UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13-G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
BUTTON GWINNETT FINANCIAL CORPORATION
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE PER SHARE
(Title of Class of Securites)
124-212-101
(CUSIP Number)
Check the following box if a fee is being paid with this
statement.
_
|_|
(A fee is not required only if the filing person: (1) has a
previous statement on file reporting beneficial ownership of more
than five percent of the class of securities described in Item 1:
and (2) has filed no amendment subsequent thereto reporting
beneficial ownership of five percent or less of such class.) (See
Rule 13d-7).
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
contining information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that Section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
1. Name of Reporting Person
S. S. or I. R. S. identification No. of Above Person
John D. Stephens
###-##-####
2. Check the appropriate box if a member of a group*
_
(a) |_|
_
(b) |_|
3. SEC Use Only
4. Citizenship or Place of Organiztion
United States of America
5. Sole Voting Power
498,267
6. Shares Voting Power
-0-
7. Sole Dispositive Power
498,267
8. Shared Dispositive Power
-0-
9. Aggregate Amount Beneficially Owned by Each Reporting Person
498,267
10. Check Box if the Aggregate Amount in Row (9) excludes Certain
Shares *
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11. Percent of Class Represented by Amount in Row 9
36.1%
12. Type of Reporting Person*
IN
Item 1(a). Name of Issuer:
Button Gwinnett Financial Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
150 South Perry Street
Lawrenceville, Georgia 30245
Item 2(a). Name of Person Filing:
John D. Stephens
Item 2(b). Address of Principal Business office, or if None,
Residence:
1899 Parker Court
Stone Mountain, GA 30087
Item 2(c). Citizenship:
United States of America
Item 2(d). Title of Class of Securities:
Common Stock, $0.01 par value
Item 2(e). CUSIP Number:
124-212-101
Item 3. If this statement is filed pursuant to Rules 13d-1(b),
or 13d-2(b), check whether the person filing is a:
Inapplicable
Item 4. Ownership:
(a) Amount beneficially owned: 498,267
(b) Percent of class: 36.1%
(c) Number of shares as to which such person has
(i) sole power to vote or direct the vote: 498,267;
(ii) shared power to vote or direct the vote: 0 ;
(iii) sold power to dispose or to direct the
disposition of: 498,267;
(iv) shared power to dispose or direct the disposition
of: 0 .
Item 5. Ownership of Five Percent or Less of a Class:
Inapplicable
Item 6. Ownership of More than Five Percent on Behalf of
Another Person:
Inapplicable
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by the
Parent Holding Company:
Inapplicable
Item 8. Identification and Classification of the Members of the
Group:
Inapplicable
Item 9. Notice of Dissolution of Group:
Inapplicable
Item 10. Certification:
Inapplicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement, is true, complete and correct.
Date: February 6, 1997
Signature: /s/
Name: John D. Stephens
