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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
FMS FINANCIAL CORPORTION
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
302509104
(CUSIP Number)
Tom Topley, Corporate Secretary
3 Sunset Road, Burlington, NJ 08016
Tel. 609 386 2400
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
MARCH 1, 2000
(Date of Event which Requires Filing of this Statement)
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SCHEDULE 13D
CUSIP No. 302509104
1. Name of Reporting Person
S.S. or IRS Indentification No. of Above Person
Frances E. Yates ###-##-####
Edward Arthur Ackerman ###-##-####
2. Check the Appropriate Box if a Member of a Group.
(No check mark here)
3. SEC USE ONLY
4. SOURCE OF FUNDS (See Instructions)
PF, BK, WC, OO
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
(No check mark here)
6. Citizenship or Place of Organization
United States of America
7. Number of Shares Beneficially Owned by each Reporting Person with
sole voting power
Frances Yates 388,500 shares
Edward Ackerman 60,000 shares
8. Shared voting power
148,200 shares
9. Sole dispositive power
Frances Yates 388,500 shares
Edward Ackerman 60,000 shares
10. Shared dispositive power
148,200 shares
11. Aggregate amount Beneficially Owned by Each Reporting Person
596,700 shares
12. Check if the aggregate amount in row (11) excludes certain shares
(no check mark here)
13. Percent of Class represented by amount in Row (11)
8.4%
14. Type of reporting person
IN
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Item 1. Security in Issuer.
-------------------
Common Stock of FMS Financial Corporation
3 Sunset Road
Burlington, New Jersey 08016
Item 2. Identity and Background.
------------------------
I. (a) Frances E. Yates
(b) 11 Norumbega Drive
Camden, ME 04843
(c) Nutritionist
(d) No convictions in any criminal proceedings.
(e) No violations of federal and state securities laws;
no findings, judgments, decrees or final orders
concerning federal and state securities laws.
Frances E. Yates is a citizen of the United States
of America
(a) Edward A. Ackerman
(b) 11 Norumbega Drive
Camden, ME 04843
(c) Writer
(d) No convictions in any criminal proceedings.
(e) No violations of federal and state securities laws;
no findings, judgments, decrees or final orders
concerning federal and state securities laws.
Edward A. Ackerman is a citizen of the United States of
America
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Item 3. Source and Amount of Funds or Other Consideration
-------------------------------------------------
All funds used in the purchase of shares by Frances E. Yates,
and her children Lucas Ackerman and Russell Ackerman have
been from the personal funds of the individuals named above.
These funds were in the amount of $1,752,457.85.
The funds used in the purchase of shares by Edward A.
Ackerman have been from a personal bank loan acquired from
Camden National Bank of Camden, Maine in the amount of $100,000.
An additional sum of $76,000 was borrowed on margin from Smith
Barney. The total dollars invested by Ned Ackerman in FMS
Financial Corporation was $229,237.
The aggregate total amount expended for the purchases reported
here is $1,981,694.85.
Item 4. Purpose of Transaction
----------------------
All shares of FMS Financial Corporation owned by the reporting
persons are held as long term investments.
Item 5. Interest in Securities of Issuer
--------------------------------
(a) Reporting person Frances E. Yates is the direct owner
of 388,500 shares of Issuer's common stock. These shares are
held either directly or in street name in reporting person's
investment accounts. Frances E. Yates has sole power to direct
the voting and the disposition of these shares.
In the past 60 days, reporting person Frances E.Yates has
purchased 1,500 shares of FMS Financial Corporation in her
personal account.
Reporting person Frances E. Yates and her nephew Roy Yates are
trustees for the Lucas and Russell Ackerman Trust dated
December 1, 1980. This Trust has purchased 14,700 shares of
Issuer's common stock. These shares are held either directly or
in street name in the 1980 Trust account. Reporting person Frances
Yates or Roy Yates has power to direct the voting or disposition
of these shares.
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The 1980 Trust account purchased no new shares in the past 60
days.
Reporting person, Frances E. Yates is custodian for Lucas Ackerman
personal stock account and Russell Ackerman personal stock account
and purchased a total of 600 shares of FMS Financial Corporation
on March 16, 1994 in the amount of $13,986.36. These shares are
held either directly of in street name, and Frances Yates has power
to direct the voting or disposition of these shares.
Reporting person, Frances E. Yates and her nephew Roy Yates are
trustees with attorney Arthur Strout of Rockland, Maine in an
independent account titled F.E. YATES TRUST US 9 JUNE 1989 for the
benefit of Lucas and Russell Ackerman. This trust account purchased
1000 shares of FMS Financial Corportaion on August 25, 1994 in
the amount of $23,208.13; 4,000 shares of FMS Financial Corporation
on October 6,1994 in the amount of $96,515.67; and 3,000 shares of
FMS Financial Corporation on October 7, 1994 in the amount of
$72,420.13.
My husband, Edward A. Ackerman is the direct owner of 60,000 shares
of Issuer's common stock. These shares are held either directly or
in street name in the investment account of Edward A. Ackerman. He
has sole power to direct the voting and dispostion of those shares.
Edward A. Ackerman disclaims beneficial ownership of any shares other
than the 60,000 shares he owns.
Reporting person, Frances E. Yates disclaims beneficial ownership of
any shares other than the 596,700 shares of issuer disclosed above.
The family represented by Frances Yates, Edward Ackerman, Russell
Ackerman, and Lucas Ackerman, together own 8.4% of Issuer's common
stock.
No other persons have any rights or powers relative to the reporting
persons' holding of the shares of issuer, nor to any of the proceeds
or dividends deriving from the holdings.
Item 5. (e) (does not apply)
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Item 6. Contracts, Arrangements, Understandings or Relationships with
-------------------------------------------------------------
Respect to Securities of Issuer.
--------------------------------
There are no contract, arrangements, understandings, or
relationships of any kind between the reporting person and any
other persons or parties with regard to these holdings.
Item 7. Material to be Filed as Exhibits
--------------------------------
No material is filed as exhibit hereto.
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.
Dated: March 1, 2000 Frances E. Yates
March 1, 2000 Edward A. Ackerman
