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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No._______.)*
Horizon Financial Services Corporation
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(Name of Issuer)
Common Stock, Par Value $0.01 per Share
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(Title of Class of Securities)
44041Q101
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(CUSIP Number)
Gerald M. Kirke, 1776 West Lakes Parkway, West Des Moines, IA 50398
(515)246-1776
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
August 14, 1998
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(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement / /. (A fee
is not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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
disclosures provided in a prior cover page.
The information required on 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).
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CUSIP NO. 44041Q101
1) Names of Reporting Person
S.S. Identification No. of Above Person
Gerald M. Kirke ###-##-####
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) / /
(b) /X/
______________________________________________________________________________
3) SEC Use Only
______________________________________________________________________________
4) Source of Funds* PF
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
Not Applicable
______________________________________________________________________________
6) Citizenship or Place of Organization-United States of America
______________________________________________________________________________
Number of Shares 7) Sole Voting Power 85,500
Beneficially Owned
by Each Reporting
Person With 8) Shared Voting Power 0
9) Sole Dispositive Power 85,500
10) Shared Dispositive Power 0
______________________________________________________________________________
11) Aggregate Amount Beneficially Owned by Each Reporting Person 85,500
______________________________________________________________________________
12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares* / /
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row (11) 9.7%
______________________________________________________________________________
14) Type of Reporting Person*: IN
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Item 1. Security and Issuer.
The class of equity securities to which this statement relates is the Common
Stock, $0.01 par value, (the "Shares") of Horizon Financial Services
Corporation, a Delaware corporation (the "Issuer"). The Issuer's Shares are
traded over-the-counter and are traded on the NASDAQ Small Cap Market under the
symbol "HZFS." The principal executive offices of the Issuer are located at 301
First Avenue East, Oskaloosa, Iowa
Item 2. Identity and Background.
(a) through (f). This Statement is being filed by Gerald M. Kirke ("Kirke").
<TABLE>
<CAPTION>
Name Business Address Principal Occupation
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<S> <C> <C>
Gerald M. Kirke 1776 West Lakes Parkway Consultant/Private
West Des Moines, IA 50398 Investor
</TABLE>
During the past five years Kirke has not been convicted in any criminal
proceedings (excluding traffic violations or similar misdemeanors) or been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result has not been subject to a judgment, decree, or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or was found to have
violated any such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Kirke's purchases of the Shares reported on this Schedule 13D were made with
personal funds in the aggregate amount of $1,349,125.00.
Item 4. Purpose of Transaction.
The Shares purchased by Kirke have been acquired and are being held solely for
investment purposes. Kirke believes that the Shares represent an attractive
investment opportunity at this time. Kirke may make additional purchases of
Shares for investment in the open market, in privately negotiated transactions,
or from the Issuer, subject to state and federal regulatory requirements and
certain provisions of the Issuer's Certificate of Incorporation and Bylaws, and
depending on Kirke's evaluation of the Issuer's business, prospects, and
financial condition, the market for the Shares, other opportunities available to
Kirke, prospects for Kirke's own activities, general economic conditions, money
and stock market conditions, and other future developments. Depending on the
same factors, Kirke may decide to sell all or part of his investment in the
Shares, although Kirke has no current intention to do so.
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As part of Kirke's ongoing assessment of his investment in the Issuer, Kirke
reserves the right to contact and meet with management of the Issuer in the
future. As of the date of this Schedule 13D, Kirke has not engaged in
discussions with management of the Issuer.
Although Kirke's purchase of Shares has been made solely for personal investment
purposes, at some future time Kirke may decide that it is desirable to seek to
acquire the Issuer or to seek to control or otherwise influence the management
and policies of the Issuer. Kirke has not made a decision to seek to acquire
the Issuer or to seek to control or otherwise influence the management and
policies of the Issuer.
Except as otherwise set forth herein, Kirke has no present plans or proposals
that relate to or would result in:
(a) The acquisition by any person of additional securities of the Issuer, or
the disposition of securities of the Issuer;
(b) An extraordinary corporate transaction, such as a merger, reorganization,
or liquidation, involving the Issuer or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of the Issuer or any of
its subsidiaries;
(d) Any change in the present Board of Directors or management of the Issuer,
including any plans or proposals to change the number or term of directors
or to fill any existing vacancies on the Board;
(e) Any material change in the present capitalization or dividend policy of the
Issuer;
(f) Any other material change in the Issuer's business or corporate structure;
(g) Changes in the Issuer's charter, bylaws, or instruments corresponding
thereto or other actions which may impede the acquisition of control of the
Issuer by any person;
(h) Causing a class of securities of the Issuer to cease to be authorized to be
quoted in an inter-dealer quotation system of a registered national
securities association;
(i) A class of equity securities of the Issuer to become eligible for
termination of registration pursuant to Section 12(g) (4) of the Securities
Exchange Act of 1934; or
(j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
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(a) As of the date of this Schedule 13D, Kirke owns directly 85,500 Shares,
representing 9.7% of the class outstanding.
(b) Kirke has the sole power to vote or to direct the vote and the sole power
to dispose of, or to direct the disposition of, the Shares owned by him.
Kirke retains the absolute right to vote and dispose of his Shares as he
determines.
(c) The following table describes any transactions in the Shares effected
during the past 60 days, all of which, except as noted, were affected in
the open market:
SHARE TRANSACTIONS EFFECTED BY KIRKE.
<TABLE>
<CAPTION>
Date of Number of Purchase Price
Purchase Shares Purchased per Share
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<S> <C> <C>
07-06-98 7,000 $ 15.50
07-10-98 8,000 $ 15.625
07-20-98 3,700 $ 15.75
08-04-98 24,800 $ 15.75
08-14-98 42,000 $ 15.875
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TOTAL 85,500
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</TABLE>
(d) No person other than Kirke has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, the Shares
owned by Kirke.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understanding, or Relationships with Respect
to Securities of the Issuer.
Except as described in this Statement, Kirke has no contracts, arrangements,
understandings, or relationships (legal or otherwise) with any person with
respect to any securities of the Issuer, finder's fees, joint ventures, loan or
option arrangements, puts or calls, guarantees of profits, division of profits
or loss, or the giving or withholding of proxies.
Item 7. Material to Be Filed as Exhibits.
None.
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SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
Statement is true, complete, and correct.
Dated : August 21, 1998 /s/ Gerald M. Kirke
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Gerald M. Kirke
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