<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13G
Under the Securities Act of 1934
(Amendment No. 3)*
First Cherokee Bancshares, Inc
------------------------------
(Name of Issuer)
Common Stock, $1.00 par value per share
---------------------------------------
(Title of Class of Securities)
319-45P-107
------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement ___. (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-7).
*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>
SCHEDULE 13G
- -----------------------
CUSIP NO. 319-45P-107 13G
- -----------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Dennis M. Lord
###-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 33,880
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
2,860
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 33,880
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
2,860
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
36,740
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
6.1%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 5 pages
<PAGE>
SCHEDULE 13G Page 3 of 5 pages
Item 1(a). Name of issuer:
First Cherokee Bancshares, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
9860 Highway 92
Woodstock, Ga. 30188
Item 2(a). Name of Person filing:
Dennis M. Lord
Item 2(b). Address of Principal Business Office or, if None, Residence:
3155 Trickum Road
Woodstock, Ga. 30188
Item 2(c). Citizenship:
United States of America
Item 2(d). Title of Class of Securities:
Common Stock, $1.00 par value
Item 2(e). CUSIP Number:
319-45P-107
Item 3. If this statement is filed pursuant to Rules 13d-s(b), check whether the
person filing is:
Inapplicable
<PAGE>
SCHEDULE 13G Page 4 of 5 pages
Item 4. Ownership as of December 31, 1997:
(a) Amount beneficially owned: 36,740
(b) Percent of class: 6.1%*
(c) Number of shares as to which such person has
(i) sole power to vote or direct the vote: 33,880
(ii) shared power to vote or direct the vote: 2,860**
(iii) sole power to dispose or to direct the disposition of 33,880
(iv) shared power to dispose or direct the disposition of 2,860
*Adjusted to reflect 16,500 shares deemed to be beneficially
owned through the right to exercise warrants within 60 days of
December 31, 1997.
**Mr. Lord shares voting and investment power with his wife on the
indicated shares.
----------------
Item 5. Ownership of Five Percent or Less of a Class:
Inapplicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Inapplicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:
Inapplicable
Item 8. Identification and Classification of the Members of the Group:
Inapplicable
Item 9. Notice of Dissolution of Group:
Inapplicable
Item 10. Certification:
Inapplicable
<PAGE>
SCHEDULE 13G Page 5 of 5 pages
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.
Date: February 11, 1998
Signature: /s/ Dennis M. Lord
Name: Dennis M. Lord
