SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
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. 3)*
Wyman Park Bancorporation, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
983086109
(CUSIP Number)
Jeffrey L. Gendell
200 Park Avenue, Suite 3900, New York, New York 10166 (212) 692-3695
(Name, address and telephone number of person
authorized to receive notices and communications)
March 24, 1999
(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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e),13d-1(f) or 13d-1(g), check the
following box [ ].
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-7 for other parties to whom copies
are to be sent.
(Continued on following pages)
(Page 1 of 8 Pages)
________________
*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 purposes 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)
CUSIP No. 983086109 13D Page 2 of 8 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Financial Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC, 00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
22,804
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
22,804
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
22,804
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 983086109 13D Page 3 of 8 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Management, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
22,804
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
22,804
____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
22,804
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
00
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 983086109 13D Page 4 of 8 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Jeffrey L. Gendell
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
22,804
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
22,804
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
22,804
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 983086109 13D Page 5 of 8 Pages
Item 1. Security and Issuer.
Item 1 is hereby amended and restated as follows:
The Schedule 13D filed on February 2, 1998 (the "Schedule 13D") by Tontine
Financial Partners, L.P., a Delaware limited partnership ("TFP"); Tontine
Management, L.L.C., a limited liability company organized under the laws of the
State of Delaware ("TM") and Jeffrey L. Gendell ("Mr. Gendell"), and amended by
Amendment No. 1 to the Schedule 13D on May 22, 1998, and further amended by
Amendment No. 2 to the Schedule 13D on June 22, 1998, relating to the common
stock, par value $0.01 (the "Common Stock"), of Wyman Park Bancorporation, Inc.
(the "Company") is hereby amended by this Amendment No. 3 to the Schedule 13D
to reflect the disposition of Common Stock by the Reporting Persons and to
reflect that the Reporting Persons no longer beneficially own more than 5% of
the Common Stock. The Company's principal executive offices are located at 11
West Ridgely Road, Lutherville, Maryland 21093.
* * * * *
Item 3. Source and Amount of Funds and Other Consideration.
Item 3 is hereby amended and restated as follows:
The net investment cost (including commissions, if any) of the shares of
Common Stock directly owned by TFP is approximately $320,874. Neither TM nor
Mr. Gendell owns directly any shares of Common Stock.
TFP's margin transactions are with ING Baring Furman Selz, LLC, on such
firm's usual terms and conditions. All or part of the shares of Common Stock
directly owned by TFP may from time to time be pledged with one or more banking
institutions or brokerage firms as collateral for loans made by such bank(s) or
brokerage firm(s) to TFP. Such loans bear interest at a rate based upon the
broker's call rate from time to time in effect. Such indebtedness may be
refinanced with other banks or broker-dealers.
* * * * *
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated as follows:
A. Tontine Financial Partners, L.P.
(a) Aggregate number of shares beneficially owned: 22,804
Percentage: 2.4% The percentages used herein and in
the rest of Item 5 are calculated based upon the 961,128 shares of Common Stock
issued and outstanding as of December 31, 1998 as set forth in the Company's
Form 10-QSB for the period ending December 31, 1998.
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 22,804
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 22,804
CUSIP No. 983086109 13D Page 6 of 8 Pages
(c) The trading dates, number of shares of Common Stock sold and
the price per share for all transactions in the Common Stock in the last sixty
days, which were all in the open market, are set forth in Schedule A and are
incorporated by reference.
(d) TM, the general partner of TFP, has the power to direct the
affairs of TFP, including decisions respecting the disposition of the proceeds
from the sale of the shares. Mr. Gendell is the Managing Member of TM and in
that capacity directs its operations.
(e) The date on which the Reporting Persons ceased to be the
beneficial owner of more than 5% of the Common Stock of the Company was March
24, 1999.
B. Tontine Management, L.L.C.
(a) Aggregate number of shares beneficially owned: 22,804
Percentage: 2.4%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 22,804
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 22,804
(c) TM did not enter into any transactions in the Common Stock
of the Company within the last sixty days. The trading dates, number of shares
of Common Stock purchased or sold and the price per share for all transactions
in the Common Stock within the last sixty days on behalf of TFP, which were all
in the open market, are set forth in Schedule A, and are incorporated by
reference.
(d) Not applicable.
(e) The date on which the Reporting Persons ceased to be the
beneficial owner of more than 5% of the Common Stock of the Company was March
24, 1999.
C. Jeffrey L. Gendell.
(a) Aggregate number of shares beneficially owned: 22,804
Percentage: 2.4%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 22,804
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 22,804
(c) Mr. Gendell did not enter into any transactions in the Common
Stock of the Company within the last sixty days. The trading dates, number of
shares of Common Stock purchased or sold and the price per share for all
transactions in the Common Stock within the last sixty days on behalf of TFP,
which were all in the open market, are set forth in Schedule A, and are
incorporated by reference.
(d) Not applicable.
(e) The date on which the Reporting Persons ceased to be the
beneficial owner of more than 5% of the Common Stock of the Company was March
24, 1999.
* * * * *
CUSIP No. 983086109 13D Page 7 of 8 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: March 26, 1999
/s/ JEFFREY L. GENDELL
Jeffrey L. Gendell, individually, and as
managing member of
Tontine Management, L.L.C.,
general partner of
Tontine Financial Partners, L.P.
CUSIP No. 983086109 13D Page 8 of 8 Pages
Schedule A
TONTINE FINANCIAL PARTNERS, L.P.
Price Per Share
Date of Number of Shares (including commissions,
Transaction Purchased/(Sold) if any)
02/02/99 (7,000) $11.125
03/04/99 (1,000) $11.00
03/05/99 (500) $11.00
03/24/99 (69,496) $11.24
