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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(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. ________________)
Cecil Bancorp, Inc.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
149 841 10 8
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(CUSIP Number)
Charles F. Sposato
80 Molitor Road
Elkton, MD 21921
410-398-1234
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 22, 1997
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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 [_].
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.
(Continued on following pages)
(Page 1 of 11 Pages)
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CUSIP No. 149 841 10 8 13D Page 2 of 11 Pages
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1 NAME OF REPORTING PERSONS Charles F. Sposato
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
10,100
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 26,735
OWNED BY -----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 10,100
WITH -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
26,735
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,835
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.83%
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14 TYPE OF REPORTING PERSONS*
IN
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CUSIP No. 149 841 10 8 13D Page 3 of 11 Pages
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1 NAME OF REPORTING PERSONS Anchar, a Maryland
I.R.S. IDENTIFICATION NO. General Partnership
OF ABOVE PERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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7 SOLE VOTING POWER
-0-
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 26,735
OWNED BY -----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
26,735
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
26,735
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.69%
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14 TYPE OF REPORTING PERSONS*
PN
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CUSIP No. 149 841 10 8 13D Page 4 of 11 Pages
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1 NAME OF REPORTING PERSONS Builder's Choice, Inc. Profit Sharing
I.R.S. IDENTIFICATION NO. Retirement Trust
OF ABOVE PERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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7 SOLE VOTING POWER
10,000
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY -----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 10,000
WITH -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.13%
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14 TYPE OF REPORTING PERSONS*
EP
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CUSIP No. 149 841 10 8 13D Page 5 of 11 Pages
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1 NAME OF REPORTING PERSONS Anthony F. Sposato
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
10,000
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 26,735
OWNED BY -----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 10,000
WITH -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
26,735
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,735
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.81%
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14 TYPE OF REPORTING PERSONS*
IN
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Item 1. Security & Issuer
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This statement relates to the common stock, par value $0.01 per share (the
"Common Stock"), of Cecil Bancorp, Inc. (the "Company"). The Company's
principal executive offices are located at 127 North Street, Elkton, Maryland
21921-5547.
Item 2. Identity & Background
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(a) This statement is filed by Charles F. Sposato with respect to shares
of Common Stock beneficially owned by him; by Anchar, a Maryland general
partnership ("Anchar") with respect to the shares of Common Stock beneficially
owned by it and as to which Mr. Sposato is a 50% general partner; by Builder's
Choice Inc. Profit Sharing Retirement Trust (the "Trust") with respect to shares
of the Common Stock beneficially owned by it and as to which Mr. Sposato serves
as sole trustee; and by Anthony F. Sposato, the brother of Charles Sposato,
with respect to shares of Common Stock beneficially owned by him. Although this
statement is being filed by such persons because they may be deemed to
constitute a "group" within the meaning of Section 13(d)3 of the Securities
Exchange Act of 1934, Charles Sposato expressly disclaims beneficial ownership
of those shares of Common Stock held by the Trust other than for his benefit.
(b) The business address of Messrs. Sposato and Sposato, Anchar and the
Trust is 80 Molitor Road, Elkton, Maryland 21921-3752.
(c) Mr. Sposato operates various companies, including serving as president
of Builder's Choice, Inc. dba Ace Hardware (Elkton, Md), as a general partner in
Anchar, a real estate holdings partnership, and president of CECO Utilities,
Inc. (a water and sewer utility company). The business address of each of these
businesses is 80 Molitor Road, Elkton, Maryland 21921. The principal business
of the Trust is to fund the payments made to participants in the related Profit
Sharing Retirement Plan. Mr. Anthony Sposato serves as president of Sposato
Dental Lab, which is located at 80 Molitor Road, Elkton, Maryland, and as a
general partner in Anchar.
Messrs. Sposato and Sposato each hold a 50% general partnership interest in
Anchar and serve as general partners in the management of Anchar.
Mr. Charles Sposato serves as the sole trustee of the Trust.
(d) Neither Mr. Charles Sposato, Anchar, the Trust or Mr. Anthony Sposato
has, during the last five years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
(e) Neither Mr. Charles Sposato, Anchar, the Trust or Mr. Anthony Sposato
has, during the last five years, been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and, as a result of
such a proceeding, was, or is subject to, a judgement, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
(f) Messrs. Sposato and Sposato are each a citizen of the United States.
Anchar is a general partnership formed under the laws of the State of Maryland.
The Trust is a trust formed under the laws of the State of Maryland.
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Item 3. Source & Amount of Funds & Other Consideration
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The net investment cost (including commissions, if any) of the shares of
Common Stock owned directly by Mr. Charles Sposato is $1,550.00. The net
investment cost (including commissions, if any) of the shares of Common Stock
beneficially owned by Anchar is $468,513. The net investment cost (including
commissions, if any) of the shares of Common Stock held by the Trust is
$100,000. The net investment cost (including commissions, if any) of the shares
of Common Stock owned directly by Mr. Anthony Sposato is $100,000.
The shares of Common Stock purchased by Mr. Charles Sposato were acquired
using personal funds and not on margin. The shares of Common Stock purchased by
Anchar were acquired with working capital contributed by Messrs. Sposato and
Sposato, who each hold a 50% general partnership interest in Anchar. The shares
of Common Stock purchased by the Trust were acquired using the working capital
of the Trust using funds provided by Builder's Choice, Inc., a company owned by
Mr. Charles Sposato. The shares of Common Stock purchased by Mr. Anthony
Sposato were acquired using personal funds and not on margin.
Item 4. Purpose of Transactions
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The purpose of the acquisition of the shares of Common Stock by Mr. Charles
Sposato, Anchar, the Trust, and Mr. Anthony Sposato has been, in each case,
primarily for investment purposes, and such purchases of the Common Stock were
made in the ordinary course of business and not for the purpose of acquiring
control of the Company. Mr. Charles Sposato, Anchar, the Trust and Mr. Anthony
Sposato may make further purchases of Common Stock in the future and may dispose
of any or all shares of Common Stock at any time. Neither Mr. Charles Sposato,
Anchar, the Trust or Mr. Anthony Sposato has plans which relate to, or could
result in, any matters referred to in paragraphs (b) through (j) inclusive of
Item 4 of Schedule 13D. Such person and entity may, at any time and from time
to time, review or reconsider his or its position and formulate plans or
proposals with respect thereto, but has no present intention of doing so.
Item 5. Interest in Securities of the Issuer
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(a) Aggregate number of shares beneficially owned (and related
percentage):
(i) Charles Sposato: 36,835 shares (7.83%)
(ii) Anchar: 26,735 shares (5.69%)
(iii) The Trust: 10,000 shares (2.13%)
(iv) Anthony Sposato: 36,735 shares (7.81%)
The percentages used herein are based upon the 470,182 shares of Common
Stock outstanding as of December 29, 1997 as indicated by the Company.
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(b) Sole or shared power to vote or dispose:
(i) Charles Sposato
Sole power to vote or direct vote: 10,100 shares
Shared power to vote or direct vote: 26,735 shares
Sole power to dispose or direct disposition: 10,100 shares
Shared power to dispose or direct disposition: 36,835 shares
(ii) Anchar
Sole power to vote or direct vote: -0- shares
Shared power to vote or direct vote: 26,735 shares
Sole power to dispose or direct disposition: -0- shares
Shared power to dispose or direct disposition: 26,735 shares
(iii) The Trust
Sole power to vote or direct vote: 10,000 shares
Shared power to vote or direct vote: -0- shares
Sole power to dispose or direct disposition: 10,000 shares
Shared power to dispose or direct disposition: -0- shares
(iv) Anthony Sposato
Sole power to vote or direct vote: 10,000 shares
Shared power to vote or direct vote: 26,735 shares
Sole power to dispose or direct disposition: 10,000 shares
Shared power to dispose or direct disposition: 36,735 shares
(c) Neither Mr. Sposato nor any other party named herein has
acquired shares of the Common Stock within the last sixty days.
(d) Not applicable
(e) Not applicable
8
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Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
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to Securities of the Issuer
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Other than the Joint Acquisition Statement attached hereto as Exhibit 1,
there are no contracts, arrangements, understandings or relationships (legal or
otherwise) among the persons named in Item 2 hereof and between such persons and
any person with respect to any securities of the Company, including but not
limited to transfer or voting of any of the securities, finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
divisions of profits or loss, or the giving or withholding of proxies.
Item 7. Materials to be Filed as Exhibits
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There is filed herewith as Exhibit 1 a written agreement relating to the
filing of joint acquisition statements as required by Rule 13d-1(f)(1) under the
Securities Exchange Act of 1934, as amended.
9
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Signatures
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After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: December 30, 1997
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/s/ Charles F. Sposato
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Charles F. Sposato
Anchar, a Maryland General Partnership
By: /s/ Charles F. Sposato
------------------------------------
Charles F. Sposato
General Partner
Builder's Choice Inc. Profit Sharing Trust
By: /s/ Charles F. Sposato
-----------------------------------
Charles F. Sposato
Trustee
/s/ Anthony F. Sposato
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Anthony F. Sposato
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EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(f)(1)
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The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.
Dated: December 30, 1997
/s/ Charles F. Sposato
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Charles F. Sposato
Anchar, a Maryland General Partnership
By: /s/ Charles F. Sposato
--------------------------------------------
Charles F. Sposato
General Partner
Builder's Choice Inc. Profit Sharing Trust
By: /s/ Charles F. Sposato
--------------------------------------------
Charles F. Sposato
Trustee
/s/ Anthony F. Sposato
-------------------------------------------------
Anthony F. Sposato
11
