UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20552
SCHEDULE 13D
Under the Securities Act of 1934
(Amendment No. 1)*
East Texas Financial Services, Inc.
(Name of Issuer)
Common Stock, Par Value $0.01 per share
(Title of Class of Securities)
275572 10 5
(CUSIP Number)
James W. Fair and Nancy Fair
P.O. Box 689, Tyler, Texas 75710 (903) 592-3811
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
January 14, 1997
(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 this statement |_|. (A fee
is not required only if the filing 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 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).
SEC 1745 (12-91)
<PAGE>
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CUSIP NO. 275572 10 5 13D Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON (VOLUNTARY)
James W. Fair
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 12,596
BENEFICIALLY ----------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 1,652
PERSON WITH ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
12,596
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
---
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,248
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN\SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 275572 10 5 13D Page 3 of 5 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON (VOLUNTARY)
Nancy Fair
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 48,863
BENEFICIALLY ----------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING ---
PERSON WITH ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
48,863
----------------------------------------------------
10 SHARED DISPOSITIVE POWER
---
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
62,066
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
This statement amends a previous filing dated December 21, 1995 (the
"Original Filing").
Item 1. Security and Issuer
No material change.
Item 2. Identity and Background
Item 2 is hereby partially amended by adding the following: A
divorce decree with respect to James W. Fair and Nancy Fair was issued on
January 14, 1997.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is hereby partially amended at the last paragraph to reflect
the vesting of 414 restricted shares under the RRP and options to purchase 1,045
shares of the Company's Common Stock under the Stock Option Plan as of July 26,
1996.
Item 4. Purpose of Transaction
No material change.
Item 5. Interest in Securities of the Issuer
Item 5 is hereby partially amended to reflect the revised ownership
interests of the Company's Common Stock by James W. Fair and Nancy Fair as a
result of a settlement agreement in connection with the divorce decree.
The amount of shares beneficially owned by James W. Fair includes:
(i) 12,596 shares with respect to which Mr. Fair has sole voting and
dispositive/investment power; and (ii) 1,652 restricted shares awarded to Mr.
Fair pursuant to the RRP with respect to which Mr. Fair has shared voting but no
dispositive/investment power.
The amount of shares beneficially owned by Nancy Fair includes
48,863 shares with respect to which she has sole vesting and
dispositive/investment power.
As a result of the settlement agreement, James W. Fair and Nancy
Fair are no longer deemed to beneficially own shares held by the other for
purposes of this Schedule 13D. As such, neither beneficially owns more than 5.0%
of the outstanding Common Stock as of the date hereof.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
No material change.
Item 7. Material to be Filed as Exhibits
No material change.
Page 4 of 5
<PAGE>
SIGNATURES
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: March 7, 1997 By: /s/James W. Fair
----------------
James W. Fair
Date: March 7, 1997 By: /s/Nancy Fair
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Nancy Fair
Page 5 of 5
