UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
Commission File Number 000-24532
NOTIFICATION OF LATE FILING
/X/Form 10-K / / Form 20-F / / Form 11-K / / Form 10-Q / / Form N-SAR
For Period Ended: [December 31, 1998]
[ ]Transition Report on Form 10-K [ ]Transition Report on Form N-SAR
[ ]Transition Report on Form 20-F
[ ]Transition Report on Form 11-K
[ ]Transition Report on Form 10-Q
For the Transition Period Ended: [ ]
Read Instruction Sheet Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates: Not Applicable
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PART I
REGISTRANT INFORMATION
Full Name of Registrant: FLAG Financial Corporation
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Former Name if Applicable: N/A
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Address of Principal Executive Office
(Street and Number): 101 North Greenwood Street
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City, State and Zip Code: LaGrange, Georgia 30240
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PART II
RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate)
(a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense; [ ]
(b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be filed on
or before the fifteenth calendar day following the prescribed due date; or the
subject quarterly report of transition report on Form 10-Q, or portion thereof,
will be filed on or before the fifth calendar day following the prescribed due
date; and [X]
(c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable. [ ]
PART III
NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K,
10-Q, N-SAR, or the Transition report or portion thereof, could not be filed
within the prescribed time period.
The Registrant's Form 10-K for the year ended December 31, 1998 cannot be
timely filed for the following reasons:
The Registrant edgarizes its filings in-house. One of the two employees
trained to convert documents to Edgar and file documents with the Securities and
Exchange Commission recently left the Registrant for another opportunity. The
Registrant was unable to train additional personnel prior to this filing
deadline. The Registrant anticipated that it would be able to satisfy its filing
requirements for Form 10-K using the remaining Edgar-trained person. However,
unforeseen delays in finalizing the Registrant's Annual Report shortened the
time allotted to edgarize the Form 10-K. The Registrant was not able to satisfy
the filing deadline without unreasonable effort and expense. The Registrant will
be able to satisfy its filing requirements on or before April 15, 1999 and will
train additional personnel in order to avoid this problem in the future.
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PART IV
OTHER INFORMATION
(1) Name and telephone number of persons to contact in regard to this
notification.
Lynn M. Sumlin
Powell, Goldstein, Frazer & Murphy LLP (404) 572-4514
(Attorneys for Company) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If answer is no,
identify report(s).
/ X / Yes / / No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
/ / Yes / X / No
If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
<PAGE>
FLAG Financial Corporation
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: April 1, 1999 By:/S/John S. Holle
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John S. Holle
Chairman of the Board
