SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 1)*
First Independence Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
32054B103
(CUSIP Number)
Jeffrey L. Gendell
200 Park Avenue, Suite 3900, New York, New York 10166 (212) 692-3695
(Name, address and telephone number of person
authorized to receive notices and communications)
February 7, 2000
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 9 Pages)
________________
*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 purposes 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)
CUSIP No. 32054B103 13D Page 2 of 9 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Financial Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC, 00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
72,800
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
72,800
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
72,800
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.84%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 32054B103 13D Page 3 of 9 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Management, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
72,800
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
72,800
____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
72,800
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.84%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
00
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 32054B103 13D Page 4 of 9 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Overseas Associates, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
20,900
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
20,900
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
20,900
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.96%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IA
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 32054B103 13D Page 5 of 9 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Jeffrey L. Gendell
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-43-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
93,700
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-43-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
93,700
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
93,743
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.81%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 32054B103 13D Page 6 of 9 Pages
Item 1. Security and Issuer.
The Schedule 13D (the "Schedule 13D") filed on January 9, 1998 by (i)
Tontine Financial Partners, L.P., a Delaware limited partnership ("TFP"); (ii)
Tontine Management, L.L.C., a limited liability company organized under the
laws of the State of Delaware ("TM"); (iii) Tontine Overseas Associates, Ltd.,
a limited liability company organized under the laws of the State of Delaware
("TOA"), which serves as investment manager to TFP Overseas Fund, Ltd.
("TFPO"), a company organized under the laws of the Cayman Islands, with
respect to the shares of Common Stock directly owned by TFPO; and (iv) Jeffrey
L. Gendell ("Mr. Gendell", and together with TFP, TFPO, TOA and TM, the
"Reporting Persons"), relating to the common stock, par value $0.01 (the
"Common Stock") of First Independence Corporation (the "Company"), is hereby
amended by this Amendment No. 1. to the Schedule D. The Company's principal
executive offices are located at Myrtle & Sixth Street, Independence, KS
67301.
* * * * *
Item 3. Source and Amount of Funds and Other Consideration.
Item 3 is hereby amended and restated as follows:
The net investment cost (including commissions, if any) of the shares of
Common Stock directly owned by TFP, TFPO and Mr. Gendell is approximately
$997,386, $308,725 and $405, respectively. Neither TM nor TOA owns directly
any shares of Common Stock.
The shares of Common Stock purchased by TFP, TFPO and Mr. Gendell were
purchased with working capital and on margin.
TFP's, TFPO's and Mr. Gendell's margin transactions are with ING Barings
Furman Selz LLC, on such firm's usual terms and conditions. All or part of the
shares of Common Stock directly owned by TFP, TFPO or Mr. Gendell may from time
to time be pledged with one or more banking institutions or brokerage firms as
collateral for loans made by such bank(s) or brokerage firm(s) to TFP, TFPO or
Mr. Gendell, as the case may be. Such loans bear interest at a rate based upon
the broker's call rate from time to time in effect. Such indebtedness may be
refinanced with other banks or broker-dealers.
* * * * *
Item 5. Interest in Securities of the Issuer.
A. Tontine Financial Partners, L.P.
(a) Aggregate number of shares beneficially owned: 72,800
Percentage: 6.84% The percentages used herein and in
the rest of Item 5 are calculated based upon the 1,063,730 shares of Common
Stock issued and outstanding as of December 6, 1999 as set forth in the
Company's Form 10-KSB for the fiscal year ended September 30, 1999.
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 72,800
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 72,800
(c) TFP did not enter into any transactions in the Common Stock
of the Company within the last sixty days.
CUSIP No. 32054B103 13D Page 7 of 9 Pages
(d) TM, the general partner of TFP, has the power to direct the
affairs of TFP, including decisions respecting the disposition of the proceeds
from the sale of the shares. Mr. Gendell is the Managing Member of TM and in
that capacity directs its operations.
B. Tontine Management, L.L.C.
(a) Aggregate number of shares beneficially owned: 72,800
Percentage: 6.84%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 72,800
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 72,800
(c) TM did not enter into any transactions in the Common Stock
of the Company within the last sixty days.
(d) Mr. Gendell is the Managing Member of TM, and has the power
to direct the affairs of TFP, including decisions respecting the disposition of
proceeds from the sale of shares with respect to TFP.
C. Tontine Overseas Associates, L.L.C.
(a) Aggregate number of shares beneficially owned: 20,900
Percentage: 1.96%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 20,900
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 20,900
(c) TOA did not enter into any transactions in the Common Stock
of the Company within the last sixty days.
(d) Each of the clients of TOA has the power to direct the
receipt of dividends from or the proceeds of sale of such shares.
(e) Not Applicable.
D. Jeffrey L. Gendell.
(a) Aggregate number of shares beneficially owned: 93,743
Percentage: 8.81%
(b) 1. Sole power to vote or direct vote: -43-
2. Shared power to vote or direct vote: 93,700
3. Sole power to dispose or direct the disposition: -43-
4. Shared power to dispose or direct the disposition: 93,700
(c) The trading dates, number of shares of Common Stock purchased
or sold and the price per share for all transactions in the Common Stock within
the last sixty days by Mr. Gendell, which were all in the open market, are set
forth in Schedule A and are incorporated by reference.
(d) Not applicable.
CUSIP No. 32054B103 13D Page 8 of 9 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: February 10, 2000
/s/ JEFFREY L. GENDELL
Jeffrey L. Gendell, individually, and as
managing member of
Tontine Management, L.L.C.,
general partner of
Tontine Financial Partners, L.P.,
and as managing member of
Tontine Overseas Associates, L.L.C.
CUSIP No. 32054B103 13D Page 9 of 9 Pages
Schedule A
Jeffrey Gendell
Price Per Share
Date of Number of Shares (including commissions,
Transaction Purchased/(Sold) if any)
02/07/00 (10,572) $9.94
SRZNY\686853v1
