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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION
FORM 4 WASHINGTON, D.C. 20549
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/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
LONGER SUBJECT TO
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940
INSTRUCTION 1(b).
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1. Name and Address of Reporting Person 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person
to Issuer (Check all applicable)
Madison Bancshares Group X Director 10% Owner
Paone Salvatore Ltd. ("MADB") ---- ----
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
Person (Voluntary) July/1999 ----------------- ------------------
1120 North Bethlehem Pike
P.O. Box 280
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(Street) 5. If Amendment, (Check applicable line)
Date of Original X Form filed by one Reporting Person
(Month/Year) ---
---Form filed by more than one
Springhouse, PA 19477 Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day) ------------------------------------------- Month Indirect Owner-
(A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Common Stock 7/13/99 P 10,000 A $8.50/sh 15,000 D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
(Over) (Print or Type Responses) SEC 1474 (3/91)
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FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
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7. Title and Amount of 8. Price of 9. Number of 10. Ownership Form 11. Nature of Indirect
Underlying Securities Derivative Derivative of Derivative Beneficial Ownership
(Instr. 3 and 4) Security Securities Security: Direct (D) (Instr. 4)
(Instr. 5) Beneficially or Indirect (I)
Owned at (Instr. 4)
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Explanation of Responses:
/s/ Salvatore Paone July 10, 1999
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**Intentional misstatements or omissions of facts constitute **Signature of Reporting Person Date
Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
Page 2
SEC 1474 (3/91)
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