SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
AMENDMENT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
UNITED TRUST, INC.
(Exact Name of Registrant as specified in its Charter)
0-16867
File No.
The undersigned registrant hereby amends the December 31, 1995 filing of Form
10-K to include Exhibit 27, the Financial Data Schedule. This amendment is
also reflected on the index page.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.
UNITED TRUST, INC.
(Registrant)
By: /s/ James E. Melville
James E. Melville
Senior Executive Vice President
and Chief Financial Officer
Date: April 16, 1996
This report contains
6 pages
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number
3(a) (1) Amended Articles of Incorporation for the Company dated
November 20, 1987.
3(b) (1) Amended Articles of Incorporation for the Company dated
December 6, 1991.
3(c) (1) Amended Articles of Incorporation for the Company dated
March 30, 1993.
3(d) (1) Code of By-Laws for the Company.
10(a) (1) Compromise and Settlement Agreement dates as of February 27,
1991, among First Commonwealth Corporation, Universal
Guaranty Life Insurance Company, Alliance Life Insurance
Company, Roosevelt National Life Insurance Company of
America, Abraham Lincoln Insurance Company, Appalachian Life
Insurance Company, Liberty American Assurance Company, and
Farmers and Ranchers Life Insurance Company, and Southshore
Holding Corp., Public Investors, Inc., Fidelity Fire and
Casualty Insurance Company, Insurance Premium Assistance
Company, Agency Premium Assistance Company, Coastal Loans
Acquisition Company, Bob F. Shamburger, Gary E. Jackson,
Leonard H. Aucoin, Dennis J. Lafont, William Joel Herron and
Jerry Palmer
10(b) (1) Credit Agreement dated as of December 11, 1989 among First
Commonwealth Corporation, Commonwealth Industries
Corporation, Investors Trust, Inc., Universal Guaranty
Investment Company, John K. Cantrell, Mildred G. Cantrell
and First Bank of Gladstone
10(c) (1) Guaranty Agreement among Commonwealth Industries
Corporation, Investors Trust, Inc. and Universal Guaranty
Investment Company dated as of December 11, 1989
10(d) (1) Security Agreement-Pledge dated as of December 11, 1989
between First Commonwealth Corporation and First Bank of
Gladstone
10(e) (1) Security Agreement-Pledge dated as of December 11, 1989
between Commonwealth Industries Corporation and First Bank
of Gladstone
10(f) (1) Security Agreement-Pledge dated as of December 11, 1989
between Universal Guaranty Investment Company and First Bank
of Gladstone
10(g) (1) Security Agreement-Pledge dated as of December 11, 1989
between Investors Trust, Inc. and First Bank of Gladstone
10(h) (1) Amendment to the Credit Agreement dated as of May 31, 1991
among First Commonwealth Corporation, Commonwealth
Industries Corporation, Investors Trust, Inc., Universal
Guaranty Investment Company, John K. Cantrell,, Mildred G.
Cantrell, and the Banks
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number
10(i) (1) Confirmation of Guaranty Agreement dated as of May 31, 1991
by Commonwealth Industries Corporation, Investors Trust,
Inc. and Universal Guaranty Investment Company
10(j) (1) Confirmation of Security Agreement-Pledge dated as of May
31, 1991 by Universal Guaranty Investment Company
10(k) (1) Confirmation of Security Agreement-Pledge dated as of May
31, 1991 by First Commonwealth Corporation
10(l) (1) Confirmation of Security Agreement-Pledge dated as of May
31, 1991 by Commonwealth Industries Corporation
10(m) (1) Confirmation of Security Agreement-Pledge dated as of May
31, 1991 by Investors Trust, Inc.
10(n) (1) Second Amendment to Credit Agreement dated as of June 12,
1992 among First Commonwealth Corporation, Commonwealth
Industries Corporation, Investors Trust, Inc., Universal
Guaranty Investment Company, John K. Cantrell, Mildred G.
Cantrell, United Trust Group, Inc. and the Banks
10(o) (1) Confirmation of Guaranty Agreement dated as of June 16, 1992
by Commonwealth Industries Corporation, Investors Trust,
Inc. and Universal Guaranty Investment Company
10(p) (1) Confirmation of Security Agreement-Pledge dated as of June
16, 1992 by Commonwealth Industries Corporation
10(q) (1) Amendment and Confirmation of Security Agreement-Pledge
dated as of June 16, 1992 by First Commonwealth Corporation
10(r) (1) Amendment and Confirmation of Security Agreement-Pledge
dated as of June 16, 1992 by Investors Trust, Inc.
10(s) (1) Amendment and Confirmation of Security Agreement-Pledge
dated as of June 16, 1992 by Universal Guaranty Investment
Company
10(t) (1) Pledge Agreement dated as of June 16, 1992 by United Trust
Group, Inc.
10(u) (1) Note Purchase Agreement dated as of June 16, 1992 by United
Trust Group, Inc.
10(v) (1) $1,909,882.00 Term Note of First Commonwealth Corporation to
Massachusetts General Life Insurance Company dated as of
June 16, 1992
10(w) (1) $6,909,867.00 Term Note of First Commonwealth Corporation to
Philadelphia Life Insurance Company dated as of June 16,
1992
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number
10(x) (1) $5,453,509.30 Term Note of First Commonwealth Corporation to
First Bank of Gladstone dated as of June 16, 1992
10(y) (1) $879,588.60 Term Note of First Commonwealth Corporation to
Citizens Bank & Trust Co. dated as of June 16, 1992
10(z) (1) $1,847,153.10 Term Note of First Commonwealth Corporation to
Bank of St. Joseph dated as of June 16, 1992
10(aa) (1) Subcontract Agreement dated September 1, 1990 between United
Trust, Inc. and United Income, Inc.
10(bb) (1) Service Agreement dated November 8, 1989 between United
Security Assurance Company and United Income, Inc.
10(cc) (1) Management and Consultant Agreement dated as of January 1,
1993 between First Commonwealth Corporation and Universal
Guaranty Life Insurance Company
10(dd) (1) Management Agreement dated December 20, 1981 among
Commonwealth Industries Corporation, Executive National Life
Insurance Company (now known as Investors Trust Assurance
Company) and Abraham Lincoln Insurance Company
10(ee) (1) Reinsurance Agreement dated January 1, 1991 between
Universal Guaranty Life Insurance Company and Republic-
Vanguard Life Insurance Company
10(ff) (1) Reinsurance Agreement dated July 1, 1992 between United
Security Assurance Company and Life Reassurance Corporation
of America
10(gg) (1) United Trust, Inc. Stock Option Plan
10(hh) (1) Board Resolution adopting United Trust, Inc.'s Officer
Incentive Fund
10(ii) (1) Employment Agreement dated as of April 15, 1993 between
Larry E. Ryherd and First Commonwealth Corporation and
United Trust, Inc.
10(jj) (1) Employment Agreement dated as of April 15, 1993 between
Thomas F. Morrow and First Commonwealth Corporation and
United Trust, Inc.
10(kk) (1) Employment Agreement dated as of April 15, 1993 between
James E. Melville and First Commonwealth Corporation and
United Trust, Inc.
10(ll) (1) Employment Agreement dated as of June 16, 1992 between
George E. Francis and First Commonwealth Corporation
10(mm) (1) Amendment Number One to Employment Agreement dated as of
April 15, 1993 between George E. Francis and First
Commonwealth Corporation
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number
10(nn) (1) Consulting Arrangement entered into June 15, 1987 between
Robert E. Cook and United Trust, Inc.
10(oo) (1) Agreement dated June 16, 1992 between John K. Cantrell and
First Commonwealth Corporation
10(pp) (1) Termination Agreement dated as of January 29, 1993 between
Scott J. Engebritson and United Trust, Inc., United
Fidelity, Inc., United Income, Inc., First Commonwealth
Corporation and United Security Assurance Company
10(qq) (1) Stock Purchase Agreement dated February 20, 1992 between
United Trust Group, Inc. and Sellers
10(rr) (1) Amendment No. One dated April 20, 1992 to the Stock Purchase
Agreement between the Sellers and United Trust Group, Inc.
10(ss) (1) Security Agreement dated June 16, 1992 between United Trust
Group, Inc. and the Sellers
10(tt) (1) Stock Purchase Agreement dated June 16, 1992 between United
Trust Group, Inc. and First Commonwealth Corporation
27 Financial Data Schedule
Footnote
(1) Incorporated by reference from the Company's Annual Report
on Form 10-K, File No. 0-5392, as of December 31, 1993.
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<ARTICLE> 7
<S> <C> <C>
<PERIOD-TYPE> YEAR YEAR
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1994
<PERIOD-END> DEC-31-1995 DEC-31-1994
<DEBT-HELD-FOR-SALE> 3,226,175 3,337,672
<DEBT-CARRYING-VALUE> 191,074,220 183,792,794
<DEBT-MARKET-VALUE> 197,006,257 171,935,030
<EQUITIES> 1,946,481 911,012
<MORTGAGE> 13,891,762 15,822,056
<REAL-ESTATE> 11,978,575 11,737,847
<TOTAL-INVEST> 244,815,985 237,820,114
<CASH> 12,528,025 11,697,067
<RECOVER-REINSURE> 14,401,901 13,919,626
<DEFERRED-ACQUISITION> 11,436,728 10,634,476
<TOTAL-ASSETS> 356,392,695 360,258,123
<POLICY-LOSSES> 0 0
<UNEARNED-PREMIUMS> 0 0
<POLICY-OTHER> 243,044,963 234,875,800
<POLICY-HOLDER-FUNDS> 18,751,982 17,438,768
<NOTES-PAYABLE> 214,474,285 220,532,893
0 0
0 0
<COMMON> 373,519 373,119
<OTHER-SE> 18,648,737 21,495,976
<TOTAL-LIABILITY-AND-EQUITY> 356,392,695 360,258,123
29,998,125 32,404,489
<INVESTMENT-INCOME> 15,456,224 14,368,446
<INVESTMENT-GAINS> (124,235) (1,436,521)
<OTHER-INCOME> 4,538,970 3,870,214
<BENEFITS> 29,855,764 29,661,234
<UNDERWRITING-AMORTIZATION> 4,907,653 4,060,425
<UNDERWRITING-OTHER> 26,481,487 18,984,366
<INCOME-PRETAX> (11,375,820) (3,499,397)
<INCOME-TAX> (4,571,028) (1,965,084)
<INCOME-CONTINUING> (3,001,245) (1,623,600)
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> (3,001,245) (1,623,600)
<EPS-PRIMARY> (.16) (.09)
<EPS-DILUTED> (.16) (.09)
<RESERVE-OPEN> 0 0
<PROVISION-CURRENT> 0 0
<PROVISION-PRIOR> 0 0
<PAYMENTS-CURRENT> 0 0
<PAYMENTS-PRIOR> 0 0
<RESERVE-CLOSE> 0 0
<CUMULATIVE-DEFICIENCY> 0 0
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