SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c)
AND (d) AND AMENDMENTS THERETO FILED PURSUANT
TO RULE 13d-2(b)
(Amendment No. ____)*
Bedford Bancshares, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
076014 10 9
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(CUSIP Number)
December 7, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
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* The remainder of the 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).
(Continued on following pages)
Page 1 of 5 pages
<PAGE>
CUSIP No. 076014 10 9 Page 2 of 5 Pages
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Schedule 13G
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1. Name of Reporting Person
S.S. or I.R.S. Identification Number of above person (entities only):
Harold K. Neal
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2. Check the appropriate box if a member of a group*
N/A (a) [_]
(b) [_]
3. SEC Use Only
4. Citizenship or Place of Organization: United States Citizen
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Number of Shares Beneficially Owned by Each Reporting Person with:
5. Sole Voting Power: 109,191
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6. Shared Voting Power: 8,803
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7. Sole Dispositive Power: 109,191
-------
8. Shared Dispositive Power: 8,803
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9. Aggregate Amount Beneficially Owned by Each Reporting Person: 117,994
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10. Check Box If The Aggregate Amount in Row (9) Excludes Certain
Shares* [_]
11. Percent of Class Represented by Amount in Row 9: 5.3%
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12. Type of Reporting Person*: IN
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* SEE INSTRUCTION
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CUSIP No. 076014 10 9 Page 3 of 5 Pages
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Item 1(a) Name of Issuer: Bedford Bancshares, Inc.
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Item 1(b) Address of Issuer's Principal Executive Offices:
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125 West Main Street
Bedford, Virginia 24523
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Item 2(a) Name of Person Filing: Harold K. Neal
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Item 2(b) Address of Person Filing:
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125 West Main Street
Bedford, Virginia 24523
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Item 2(c) Citizenship: United States
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Item 2(d) Title of Class of Securities: Common Stock
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Item 2(e) CUSIP Number: 076014 10 9
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Item 3 Check whether the person filing is a:
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Item 3(a)-(j) - Not Applicable
If this statement is filed pursuant to Rule 13d-1(c),
check this box [X}
Item 4(a) Amount Beneficially Owned: 117,994
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Item 4(b) Percent of Class: 5.3%
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Item 4(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 109,191*
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(ii) shared power to vote or to direct the vote 8,803**
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(iii) sole power to dispose or to direct the
disposition of 109,191*
--------
(iv) shared power to dispose or to direct the
disposition of 8,803**
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* The number of shares includes 62,818 shares that Mr. Neal may
acquire through the exercise of stock options within 60 days, for which Mr. Neal
does not presently have the power to vote.
** The number of shares includes 8,803 shares held in the employee
stock ownership plan of the Issuer's subsidiary which have been allocated to Mr.
Neal's account.
<PAGE>
CUSIP No. 076014 10 9 Page 4 of 5 Pages
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Item 5 Ownership of Five Percent or Less of Class:
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Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
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Not Applicable
Item 7 Identification and Classification of the Subsidiary Which
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Acquired the Security Being Reported on by the Parent Holding
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Company.
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Not Applicable
Item 8 Identification and Classification of Members of the Group.
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Not Applicable
Item 9 Notice of Dissolution of Group.
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Not Applicable
Item 10 Certification.
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By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
<PAGE>
CUSIP No. 076014 10 9 Page 5 of 5 Pages
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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: December 16, 1999 /s/ Harold K. Neal
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Harold K. Neal
