-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MuppWVxe6yTidI+3rD4xulFgroScL6khJqyhd3aTtZK7MbnzHJRvDpRRpkuED1Q4 2dOz5lnWd1mW2lGSwQC/Pw== 0000950168-98-000467.txt : 19980218 0000950168-98-000467.hdr.sgml : 19980218 ACCESSION NUMBER: 0000950168-98-000467 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980217 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FOUR OAKS FINCORP INC CENTRAL INDEX KEY: 0001040799 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 562028446 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-53393 FILM NUMBER: 98541055 BUSINESS ADDRESS: STREET 1: 6144 US 301 SOUTH STREET 2: P O BOX 309 CITY: FOUR OAKS STATE: NC ZIP: 27524 BUSINESS PHONE: 9199632177 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STURDIVANT JOSAPHINE L CENTRAL INDEX KEY: 0001054933 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: C/O FOUR OAKS FINCORP INC STREET 2: 6144 US 301 SOUTH CITY: FOUR OAKS STATE: NC ZIP: 27534 BUSINESS PHONE: 9199632177 MAIL ADDRESS: STREET 1: C/O FOUR OAKS FINCORP INC STREET 2: 6144 US 301 SOUTH CITY: FOUR OAKS STATE: NC ZIP: 27534 SC 13G 1 SCHEDULE 13G -JOSEPHINE L. STURDIVANT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. _______)* FOUR OAKS FINCORP, INC. (Name of Issuer) COMMON STOCK, $1.00 PAR VALUE (Title of Class of Securities) 350891 10 7 (CUSIP Number) * 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). (Continued on following page(s)) Page 1 of 5 Pages - --------------------------- ------------------- CUSIP No. 350891 10 7 13G Page 2 of 5 Pages - --------------------------- ------------------- - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Josephine L. Sturdivant - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- 5) SOLE VOTING POWER NUMBER OF 45,351 SHARES ----------------------------------------------------- BENEFICIALLY 6) SHARED VOTING POWER OWNED BY 1,842 EACH ----------------------------------------------------- REPORTING 7) SOLE DISPOSITIVE POWER PERSON 45,351 WITH ----------------------------------------------------- 8) SHARED DISPOSITIVE POWER 1,842 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 52,486 - -------------------------------------------------------------------------------- 10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.0% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- - --------------------------- ------------------- CUSIP No. 350891 10 7 13G Page 3 of 5 Pages - --------------------------- ------------------- Item 1. (a) Name of Issuer Four Oaks Fincorp, Inc. (b) Address of Issuer's Principal Executive Offices 6144 US 301 South Four Oaks, North Carolina 27524 Item 2. (a) Name of Person Filing This statement is filed by Josephine L. Sturdivant. (b) Address of Principal Business Office or, if none, Residence 5426 Hampton Road Fayetteville, North Carolina 28311 (c) Citizenship: United States of America (d) Title of Class of Securities Common stock, par value $1.00 per share (e) CUSIP Number 350891 10 7 Item 3. Not applicable. Item 4. Ownership (a) Amount Beneficially Owned: On July 1, 1997, Four Oaks Bank & Trust Company (the "Bank") reorganized into a bank holding company structure (the "Reorganization"). As a result of the Reorganization, Four Oaks Fincorp, Inc. is the sole shareholder of the Bank. Pursuant to the Reorganization, the Bank's Common Stock was converted, on a share-for-share basis, into Common Stock of Four Oaks Fincorp, Inc. The Bank's Common Stock was registered under Section 12(g) of the Act. Pursuant to the Reorganization, Four Oaks Fincorp, Inc. filed a Current Report on Form 8-K12G-3 as the successor - --------------------------- ------------------- CUSIP No. 350891 10 7 13G Page 4 of 5 Pages - --------------------------- ------------------- issuer of the Bank under Rule 12g-3 promulgated under the Act. Effective July 1, 1997, Four Oaks Fincorp, Inc. began filing reports with the Securities and Exchange Commission pursuant to the Act. While a holder of more than 5% of the outstanding shares of the Bank's Common Stock, the Reporting Person filed Form F-11A with the Federal Deposit Insurance Corporation. Pursuant to the Reorganization, the Reporting Person's shares of Bank Common Stock were converted, on a share-for-share basis, into shares of Common Stock of Four Oaks Fincorp, Inc. As of December 31, 1997, the Reporting Person beneficially owned 52,486 shares of Common Stock of Four Oaks Fincorp, Inc. which includes 5,293 shares owned by her spouse individually and 1,842 shares owned jointly by the Reporting Person and her spouse. The Reporting Person declares that the filing of this Schedule 13G shall not be construed as an admission that she is, for purposes of Section 13(d) or Section 13(g) of the Act, the beneficial owner of any of the shares of Common Stock of the issuer owned of record by her spouse. The Reporting Person has no power to vote, direct the voting of, dispose of, or direct the disposition of such shares owned by her spouse. (b) Percent of Class: Such 52,486 shares of Common Stock are 6.0% of the 873,605 shares of Common Stock outstanding as of December 31, 1997. (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 45,351 (ii) shared power to vote or to direct the vote: 1,842 (iii) sole power to dispose or to direct the disposition of: 45,351 (iv) shared power to dispose or to direct the disposition of: 1,842 Item 5. Ownership of Five Percent or Less of a Class Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person As stated above, the Reporting Person's spouse owns 5,293 shares of Common Stock of the Issuer individually and has the right to receive dividends and proceeds from the sale of such securities. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company Not applicable. - --------------------------- ------------------- CUSIP No. 350891 10 7 13G Page 5 of 5 Pages - --------------------------- ------------------- Item 8. Identification and Classification of Members of the Group Not applicable. Item 9. Notice of Dissolution of Group Not applicable. Item 10. Certification Not applicable. Signature. 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: February 13, 1998 Signature: /s/ Josephine L. Sturdivant -------------------------------------- Name/Title: Josephine L. Sturdivant -----END PRIVACY-ENHANCED MESSAGE-----