<PAGE> 1
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
(Mark One)
X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- ---- EXCHANGE ACT OF 1934 (FEE REQUIRED)
For the fiscal year ended DECEMBER 31, 1997
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- ---- EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
Commission file number 33-46573
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CAPITAL HOLDINGS, INC.
----------------------
(Exact name of Registrant as specified in its Charter)
OHIO 34-1588902
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(State of incorporation) (I.R.S. Employer Identification No.)
5520 MONROE ST., SYLVANIA, OH 43560
-----------------------------------
(Address of principal executive offices, including zip code)
(419) 885-7379
--------------
(Registrant's telephone number, including area code)
SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT: NONE
SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
COMMON STOCK, WITHOUT PAR VALUE
-------------------------------
(Title of Class)
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. X
---
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. YES X NO
--- ---
The aggregate market value of the voting stock held by non-affiliates
of the Registrant at March 10, 1998 was $94,023,970.
The number of shares of Registrant's Common Stock outstanding on March
10, 1998 was 2,000,510.
DOCUMENTS INCORPORATED BY REFERENCE
-----------------------------------
Annual Report to Shareholders for fiscal year ended December 31, 1997 - Parts II
and IV.
Definitive Proxy Statement for the Annual Meeting of Shareholders to be held May
7, 1998 - Part III.
<PAGE> 2
PART IV.
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORT ON FORM 8-K
- -------- --------------------------------------------------------------
(A) INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SCHEDULES
--------------------------------------------------------
The following consolidated financial statements included in the 1997
Annual Report to Shareholders of Capital Holdings, Inc., are incorporated by
reference in ITEM 8:
Consolidated Balance Sheets at December 31, 1997 and 1996.
Consolidated Statements of Income for the years ended
December 31, 1997, 1996 and 1995.
Consolidated Statements of Shareholders' Equity for the
years ended December 31, 1997, 1996 and 1995.
Consolidated Statements of Cash Flows for the years ended
December 31, 1997, 1996 and 1995.
Notes to Consolidated Financial Statements.
Schedules are omitted because they are inapplicable, not required, or
the information is included in the consolidated financial statements or notes
thereto.
(B) REPORTS ON FORM 8-K
-------------------
None
(C) EXHIBITS
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<TABLE>
<CAPTION>
EXHIBIT NO.
-----------
<S> <C> <C>
3.1 Articles of Incorporation of Capital Holdings, Inc. *
---
3.2 Code of Regulations of Capital Holdings, Inc. *
---
3.3 Articles of Incorporation of Capital Holdings, Inc., as amended +
May 18, 1993 ---
4.0 Certificate for Common Shares of Capital Holdings, Inc. *
---
10 Nonemployee Director Stock Option Plan &
of Capital Holdings, Inc. ---
10.4 1988 Incentive Stock Option Plan of Capital Holdings, Inc. *
---
10.5 Lease between Capital Bank, N.A. and CBNA Building Company, *
a wholly-owned subsidiary of Capital Holdings, Inc. ---
10.6 Supplemental Executive Retirement Plan of Capital Holdings, Inc. $
---
13 The Company's 1997 Annual Report to Shareholders - Except
for the portions of the report expressly incorporated
by reference, the Report is furnished solely for the
information of the Commission and is not deemed
"filed" as part hereof
21 List of Subsidiaries *
---
(i) Capital Bank, N.A., a national banking
association chartered by the Office of the
Comptroller of the Currency of the United States
(ii) CBNA Building Company, an Ohio corporation
23.1 Consent of Independent Auditors
27 Financial Data Schedule
27.1 Financial Data Schedules Restated for the period end
March 31, 1996; June 30, 1996; September 30, 1996;
December 31, 1996.
</TABLE>
* Documents incorporated by reference from the Company's S-1 Registration
Statement, File Number 33-46573, effective May 8, 1992.
+ Document incorporated by reference from the Company's Annual Report on Form
10-K for the year ended December 31, 1993.
& Document incorporated by reference from the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 1995.
$ Document incorporated by reference from the Company's Annual Report on Form
10-K for the year ended December 31, 1995.
(D) FINANCIAL STATEMENT SCHEDULES
-----------------------------
None required.
<PAGE> 3
SIGNATURES
Pursuant to the requirements of Section 15(d) of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized, on the dates indicated.
CAPITAL HOLDINGS, INC.
By /s/ John S. Szuch 3/19/98
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John S. Szuch Date
Chairman and Chief Executive Officer
Director
By /s/ Robert A. Sullivan 3/19/98
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Robert A. Sullivan Date
President and Chief Operating Officer
Director
By /s/ Michael P. Killian 3/19/98
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Michael P. Killian Date
Senior Vice President and Chief Financial Officer
<PAGE> 4
Pursuant to the requirements of Section 15(d) of the Securities Exchange Act of
1934, this report has been signed below by the following persons on behalf of
Capital Holdings, Inc. and Subsidiaries and in the capacities and on the dates
indicated.
By /s/ James M. Appold 3/19/98
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James M. Appold Date
Director
By /s/ David P. Bennett 3/19/98
---------------------------------------------------------------
David P. Bennett Date
Director
By /s/ Yale M. Feniger 3/19/98
---------------------------------------------------------------
Yale M. Feniger Date
Director
By /s/ George A. Isaac, III 3/19/98
---------------------------------------------------------------
George A. Isaac, III Date
Director
By /s/ Michael C. Landin 3/19/98
---------------------------------------------------------------
Michael C. Landin Date
Director
By /s/ Ronald R. Langenderfer 3/19/98
---------------------------------------------------------------
Ronald R. Langenderfer Date
Director
<PAGE> 5
By /s/ Joel A. Levine 3/19/98
---------------------------------------------------------------
Joel A. Levine Date
Director
By /s/ W. G. Lyden, III 3/19/98
---------------------------------------------------------------
W. G. Lyden, III Date
Director
By /s/ Thomas W. Noe 3/19/98
---------------------------------------------------------------
Thomas W. Noe Date
Director
By /s/ Noel Romanoff 3/19/98
---------------------------------------------------------------
Noel Romanoff Date
Director
By /s/ James D. Sayre 3/19/98
---------------------------------------------------------------
James D. Sayre Date
Director
By /s/ James M. Tuschman 3/19/98
---------------------------------------------------------------
James M. Tuschman Date
Director
<TABLE> <S> <C>
<ARTICLE> 9
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS YEAR
<FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 DEC-31-1996 DEC-31-1997
<PERIOD-START> JAN-01-1996 JAN-01-1996 JAN-01-1996 JAN-01-1996
<PERIOD-END> MAR-31-1996 JUN-30-1996 SEP-30-1996 DEC-31-1996
<CASH> 12,722,798 13,545,102 14,801,613 13,958,201
<INT-BEARING-DEPOSITS> 0 0 411,502,915 0
<FED-FUNDS-SOLD> 0 1,000,000 0 0
<TRADING-ASSETS> 0 0 0 0
<INVESTMENTS-HELD-FOR-SALE> 144,798,517 149,876,618 157,956,741 159,209,293
<INVESTMENTS-CARRYING> 0 0 0 0
<INVESTMENTS-MARKET> 0 0 0 0
<LOANS> 328,712,547 333,465,000 354,774,471 380,160,315
<ALLOWANCE> 5,170,000 5,400,000 5,642,377 5,942,377
<TOTAL-ASSETS> 492,247,618 504,123,558 534,071,881 559,725,800
<DEPOSITS> 409,353,994 430,533,806 450,357,148 470,743,092
<SHORT-TERM> 41,838,485 31,355,031 39,829,330 42,330,560
<LIABILITIES-OTHER> 4,692,894 6,011,663 5,264,972 5,062,044
<LONG-TERM> 0 0 0 0
0 0 0 0
0 0 0 0
<COMMON> 888,864 942,024 942,025 948,754
<OTHER-SE> 35,473,381 35,281,034 37,678,406 40,641,350
<TOTAL-LIABILITIES-AND-EQUITY> 492,247,618 504,123,558 534,071,881 559,725,800
<INTEREST-LOAN> 7,135,601 14,404,668 21,995,899 29,899,157
<INTEREST-INVEST> 2,219,276 4,545,589 7,044,914 9,739,761
<INTEREST-OTHER> 8,209 55,078 75,353 0
<INTEREST-TOTAL> 9,363,086 19,005,335 29,116,166 39,638,918
<INTEREST-DEPOSIT> 4,825,083 9,709,441 14,946,819 20,450,873
<INTEREST-EXPENSE> 5,329,878 10,669,784 16,378,764 22,305,224
<INTEREST-INCOME-NET> 4,033,208 8,335,551 12,737,402 17,333,694
<LOAN-LOSSES> 210,000 440,000 680,000 980,000
<SECURITIES-GAINS> 26,523 27,926 (55,433) (55,434)
<EXPENSE-OTHER> 2,032,807 4,215,993 6,489,947 8,821,109
<INCOME-PRETAX> 2,017,232 4,145,460 6,222,232 8,406,878
<INCOME-PRE-EXTRAORDINARY> 2,017,232 4,145,460 6,222,232 8,406,878
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 1,366,232 4,145,460 4,246,232 5,725,878
<EPS-PRIMARY> .73 1.50 2.25 3.04
<EPS-DILUTED> .70 1.44 2.17 2.94
<YIELD-ACTUAL> 3.513 3.587 3.571 3.59
<LOANS-NON> 135,000 74,645 225,849 217,000
<LOANS-PAST> 50,000 9,827 14,191 237,000
<LOANS-TROUBLED> 0 0 0 0
<LOANS-PROBLEM> 0 0 0 0
<ALLOWANCE-OPEN> 4,960,000 4,960,000 4,960,000 4,960,000
<CHARGE-OFFS> 0 0 0 0
<RECOVERIES> 0 0 2,377 2,000
<ALLOWANCE-CLOSE> 5,170,000 5,400,000 5,642,377 5,942,000
<ALLOWANCE-DOMESTIC> 3,663,785 4,195,657 4,816,698 3,058,000
<ALLOWANCE-FOREIGN> 0 0 0 0
<ALLOWANCE-UNALLOCATED> 1,506,215 1,204,343 825,679 2,884,000
</TABLE>
