SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_______________________
FORM 10-QSB/A (Amendment #1)
[ x ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission File Number 0-25484
AMTRUST CAPITAL CORP.
______________________________________________________________
(Exact name of registrant as specified in its charter)
DELAWARE 35-1940250
___________________________ _______________________________________
(State or other jurisdiction of (I.R.S. Employer Identification number)
incorporation or organization)
20 W. Fifth Street, Peru, Indiana 46970
_______________________________________________________
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (317) 472-1991
Check here whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [ x ] No [ ]
As of December 31, 1996, there were 494,355 shares of the Registrant's
common stock outstanding.
Transitional Small Disclosure (check one): Yes [ ] No [ x ]
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AMTRUST CAPITAL CORP. AND SUBSIDIARY
AMERICANTRUST FEDERAL SAVINGS BANK
CONSOLIDATED CONDENSED BALANCE SHEET
December 30, June 30,
1996 1996
----------------------------
(UNAUDITED)
ASSETS
CASH AND DUE FROM BANKS $ 1,618,806 $ 1,128,289
INTEREST-BEARING DEPOSITS 943,310 617,842
INVESTMENT SECURITIES
HELD TO MATURITY 2,291,443 2,612,885
AVAILABLE FOR SALE 12,139,629 11,919,170
----------------------------
TOTAL INVESTMENT SECURITIES 14,431,072 14,532,055
MORTGAGE LOANS HELD FOR SALE 629,635 1,508,611
LOANS 50,639,587 50,294,720
ALLOWANCE FOR LOAN LOSSES (475,757) (494,375)
----------------------------
NET LOANS 50,163,830 49,800,345
PREMISES AND EQUIPMENT 1,302,998 1,124,519
FEDERAL HOME LOAN BANK OF
INDIANAPOLIS STOCK 1,050,000 1,050,000
CASH SURRENDER VALUE-LIFE
INSURANCE POLICIES 1,118,697 1,100,203
INTEREST RECEIVABLE 353,012 378,648
DEFERRED INCOME TAX BENEFITS 196,765 326,650
CURRENT INCOME TAX REFUNDABLE 124,196 22,105
OTHER ASSETS 286,496 302,400
----------------------------
TOTAL ASSETS $ 72,218,817 $ 71,891,667
============================
LIABILITIES
DEPOSITS $ 49,777,783 $ 44,561,525
ADVANCES FROM FHLB OF
INDIANAPOLIS 14,663,466 19,500,036
INTEREST PAYABLE 100,536 83,030
OTHER LIABILITIES 300,708 535,787
----------------------------
TOTAL LIABILITIES 64,842,493 64,680,378
----------------------------
STOCKHOLDERS' EQUITY
PREFERRED STOCK ($.01 PAR VALUE)
AUTHORIZED AND UNISSUED--350,000 SHARES
COMMON STOCK ($.01 PAR VALUE)
AUTHORIZED--1,750,000 SHARES
ISSUED--580,064 SHARES 5,801 5,801
PAID IN CAPITAL 4,182,406 4,178,218
RETAINED EARNINGS-SUBSTANTIALLY
RESTRICTED 4,139,429 4,167,860
UNEARNED ESOP SHARES --
37,124 SHARES (296,992) (315,554)
TREASURY STOCK AT COST --
48,585 SHARES (496,836) (535,299)
NET UNREALIZED LOSS ON SECURITIES
AVAILABLE, NET OF TAX (157,484) (289,737)
----------------------------
TOTAL STOCKHOLDERS' EQUITY 7,376,324 7,211,289
----------------------------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 72,218,817 $ 71,891,667
============================
SEE NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
<PAGE>
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AMTRUST CAPITAL CORP.
Registrant
Date: January 21, 1997 /s/ Bruce M. Borst
__________________________
Bruce M. Borst, President, Chief
Executive Officer and Director
(Duly Authorized Officer)
Date: January 21, 1997 /s/ Jami L. Cornish
__________________________
Jami L. Cornish, Treasurer and
Chief Financial Officer
(Principal Financial Officer)
