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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _______)*
Penn Treaty American Corp.
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(Name of Issuer)
Penn Treaty American Corp., Common Stock par value .1
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(Title of Class of Securities)
707874103
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(CUSIP Number)
Check the following box if a legal fee is being paid with this statement [X]. (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-17).
*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 containing 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).
Page 1 of 8 pages
SEC 1745 (2-95)
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CUSIP NO. 707874103 13G Page 2 of 4 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Emerald Advisers, Inc.
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2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
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3 SEC Use Only
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4 Citizenship or Place of Organization
Pennsylvania
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5 Sole Voting Power
92,400
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Number of Shares 6 Shared Voting Power
Beneficially
Owned by Each
Reporting Person
With 0
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7 Sole Dispositive Power
190,800
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8 Shared Dispositive Power
0
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
190,800
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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
6.2%
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12 Type of Reporting Person*
IA
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Schedule 13G Page 3 of 4
Emerald Advisers, Inc.
Item 1.
(a) The name of the issuer is Penn Treaty American Corp.
(b) The address of issuer's principal executive offices is 3440 Lehigh
Street, Allentown, PA 18103
Item 2.
(a) The name of the person filing is Emerald Advisers, Inc.
(b) The principal business office of the person filing is 1857 William
Penn Way, Lancaster, Pennsylvania 17601
(c) The state of organization is Pennsylvania
(d) The title of the class of security is common stock par value .1
(e) The CUSIP number is 707874103
Item 3.
(e) The person filing is an Investment Adviser registered under
section 203 of the Investment Advisers Act of 1940.
Item 4.
(a) The amount beneficially owned is 190,800.
(b) The percent of class is 6.2% .
(c)(i) The number of shares as to which Emerald Advisers, Inc. has sole
voting power is 92,400.
(c)(ii) The number of shares as to which Emerald Advisers, Inc. has shared
voting power is 0.
(c)(iii) The number of shares as to which Emerald Advisers, Inc. has sole
dispositive power is 190,800.
(c)(iv) The number of shares as to which Emerald Advisers, Inc. holds
shared dispositive power is 0.
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Schedule 13G Page 4 of 4
Emerald Advisers, Inc.
Item 5.
Not applicable.
Item 6.
Other persons have the right to receive and/or the power to direct the
receipt of dividends from, and the proceeds from the sale of, such securities.
Of these persons, no person has the right to receive and/or the power to direct
the receipt of dividends from, or the proceeds from the sale of, more than five
percent of such securities.
Item 7.
Not applicable.
Item 8.
Not applicable.
Item 9.
Not applicable.
Item 10.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
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.
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Date
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Signature
Scott L. Rehr, Senior Vice President
