SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under
The Securities Exchange Act of 1934
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GOLDEN ISLES FINANCIAL HOLDINGS, INC.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
381087105
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(CUSIP Number)
Michael J. Kistler
4 Sorghum Lane
Savannah, Georgia 31411
(912) 598-7583
_________________________________________________________________
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March __, 2000
_________________________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement
on Schedule 13G to report the acquisition
that is the Subject of this Schedule 13D, and is filing this
schedule because of Section 240.13d-
1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
[ ]
CUSIP No. 381087105
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1. Names of Reporting Persons. Social Security
Numbers or I.R.S. Identification
Numbers of above persons (entities only).
Michael J. Kistler
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2. Check the Appropriate Box if a Member of a
Group (See Instructions)
(a) Not Applicable
(b) Not Applicable
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3. SEC Use Only
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4. Source of Funds (See Instructions)
PF and BK
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5. Check if Disclosure of Legal Proceedings Is
Required Pursuant to Items 2(d) or 2(e)
Not Applicable
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6. Citizenship or Place of Organization
United States of America
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7. Sole Voting Power 158,920
Number of
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Shares
Beneficially 8.
Shared Voting Power 0
Owned By
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_
Each
Reporting 9. Sole
Dispositive Power 158,920
Person
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_
With
10. Shared
Dispositive Power 0
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11. Aggregate Amount Beneficially Owned by Each
Reporting Person
158,920
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12. Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See
Instructions).
Not Applicable
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13. Percent of Class Represented by Amount in Row
(11)
6.35%
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14. Type of Reporting Person (See Instructions)
IN
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Item 1. Security and Issuer.
This statement relates to the No Par Value Common Stock of
Golden Isles Financial Holdings,
Inc., a Georgia corporation ("GIFH"). The principal executive
offices of GIFH are located at 3811
Frederica Road, St. Simons Island, Georgia 31522.
Item 2. Identity and Background.
(a) The name of the person filing this statement is
Michael J. Kistler.
(b) Mr. Kistler's business address is 340 Eisenhower
Drive, Suite 320, Savannah, Georgia
31406.
(c) Mr. Kistler is currently employed as a real
estate developer. The name and address of
the company in which Mr. Kistler is employed is
Development Associates, Inc., 340
Eisenhower Drive, Suite 320, Savannah, Georgia 31406.
(d) Mr. Kistler has not, during the last five years,
been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
(e) Mr. Kistler has not, during the last five years,
been a party to a civil proceeding as a
result of which he was or is subject to a judgment,
decree, or final order enjoining future
violations of, or prohibiting or mandating activities
subject to, federal or state securities
laws or finding any violation with respect to such laws.
(f) Mr. Kistler is a citizen of the United States of
America.
Item 3. Source and Amount of Funds or Other
Consideration.
The total cost of the shares of Common Stock in GIFH purchased
by Mr. Kistler was
$1,191,896.30. Mr. Kistler utilized personal funds and funds
borrowed from AmeriBank, N.A.
pursuant to the terms of a promissory note dated June 25, 1999 in
the principal amount of
$1,000,500, and secured by a pledge of real property collateral
and by a pledge of Mr. Kistler's
brokerage account with Sterne, Agee & Leach to purchase the
Common Stock in GIFH.
Item 4. Purpose of Transaction.
The purpose of the acquisition by Mr. Kistler of the shares of
Common Stock of GIFH was to
make a long term investment in GIFH. Mr. Kistler plans to
continue to acquire shares of Common
Stock of GIFH as a long term investment in GIFH. Mr. Kistler
does intend to become a member of
the Board of Directors of GIFH. Mr. Kistler does not have any
present plans or proposals which
would result in:
(a) The disposition of securities of GIFH;
(b) An extraordinary corporate transaction, such as a
merger, reorganization or liquidation,
involving GIFH or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets
of GIFH or any of its subsidiaries;
(d) Except as set forth above, any change in the
present board of directors or management
of GIFH, including any plans or proposals to change the
number or term of directors or
to fill any existing vacancies on the board;
(e) Any material change in the present capitalization
or dividend policy of GIFH;
(f) Any other material change in the business or
corporate structure of GIFH;
(g) Changes in the charter or bylaws of GIFH or
instruments corresponding thereto or other
actions which may impede the acquisition of control of
GIFH by any person;
(h) Causing a class of securities of GIFH to be
delisted from a national securities exchange
or to cease to be authorized to be quoted in an
inter-dealer quotation system of a
registered national securities association;
(i) A class of securities of GIFH becoming eligible
for termination of registration pursuant
to Section 12(g)(4) of the Securities Exchange Act of
1934; or
(j) Any action similar to any of those enumerated
above.
Although Mr. Kistler does not have any present plans to effect
any of the foregoing, Mr. Kistler
would consider any such proposal.
Item 5. Interest in Securities of the Issuer.
(a) The aggregate number of shares of Common Stock of
GIFH beneficially owned by Mr.
Kistler is 158,920. The 158,920 shares of Common Stock
of GIFH beneficially owned
by Mr. Kistler constitutes 6.35 percent of the issued and
outstanding shares of the
Common Stock of GIFH;
(b) Mr. Kistler has the sole power to vote, and sole
power to dispose of, the shares
described in paragraph (a) above;
(c) Mr. Kistler, through his registered broker,
Sterne, Agee & Leach, in Savannah, Georgia
has effected the following acquisitions of shares of
Common Stock of GIFH since the
filing of the Schedule 13D by Mr. Kistler:
Date of Transaction
Number of Shares Acquired
Price Per Share
November 29, 1999
2,000
$7.85
December 2, 1999
8,000
$7.54
December 7, 1999
1,000
$6.98
December 9, 1999
2,000
$6.98
December 9, 1999
1,000
$6.98
December 13, 1999
1,000
$6.85
December 30, 1999
2,000
$6.98
January 3, 2000
1,500
$6.98
January 6, 2000
2,300
$6.98
January 26, 2000
4,700
$6.85
February 17, 2000
600
$6.10
February 18, 2000
400
$6.10
(d) No other person is known to have the right to
receive or the power to direct the receipt
of dividends from, or proceeds from the sale of, the
shares of Common Stock of GIFH
described in paragraph (a) above; and
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to
Securities of the Issuer.
Certain of the shares of Common Stock of GIFH beneficially
owned by Mr. Kistler are held
in a brokerage account which has been pledged to AmeriBank, N.A.
as security for the repayment
of a promissory note executed by Mr. Kistler in favor of
AmeriBank, N.A., as discussed in Item 3.
There are no other contracts, arrangements, understandings or
relationships (legal or otherwise)
between Mr. Kistler and any other person with respect to any
securities of GIFH.
Item 7. Material to Be Filed as Exhibits
Exhibit A A copy of the Promissory Note dated
June 25, 1999 by Mr. Kistler in favor
of AmeriBank in the principal amount of
$1,000,500 was attached to the
original Schedule 13D filed by Mr. Kistler.
Exhibit B A copy of the Pledge Agreement
dated June 28, 1999 between Mr. Kistler
and AmeriBank was attached to the original
Schedule 13D filed by Mr.
Kistler.
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.
March __, 2000
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Date
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Signature
Michael J. Kistler
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Name/Title
