-----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, ATSohRANzNw8+2wLbbwYCgaqJC2seYjqsaeiSZ58LhuaUh8XJs5p2HuEhtOmwxmm M6IIJqLAEUS6uaDEiN36MQ== 0000950168-99-000358.txt : 19990215 0000950168-99-000358.hdr.sgml : 19990215 ACCESSION NUMBER: 0000950168-99-000358 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990212 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: 99536594 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: TURNER WILLIAM ASHLEY & TURNER DEBRA C JOINT TENANTS CENTRAL INDEX KEY: 0001074738 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 2256 SHOTWELL ROAD CITY: CLAYTON STATE: NC ZIP: 27520 BUSINESS PHONE: 9199632177 SC 13G 1 FOUR OAKS FINCORP, INC./TURNER SC 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* FOUR OAKS FINCORP, INC. (Name of Issuer) COMMON STOCK $1.00 PAR VALUE (Title of Class of Securities) 350891 10 7 (CUSIP Number) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c)** [ ] Rule 13d-1(d) *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. **This Schedule 13G was originally filed pursuant to Rule 13d-1(c), while this Amendment is being filed pursuant to Rule 13d-2(b). 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 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 William Ashley Turner and Debra C. Turner, Joint Tenants with right of survivorship 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 NUMBER OF 5. SOLE VOTING POWER 68,949.068 SHARES BENEFICIALLY 6. SHARED VOTING POWER -0- OWNED BY EACH 7. SOLE DISPOSITIVE POWER 68,949.068 REPORTING PERSON 8. SHARED DISPOSITIVE POWER -0- WITH: 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 69,292.73 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (See Instructions) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.13% 12. TYPE OF REPORTING PERSON (See Instructions) IN CUSIP No. 350891 10 7 13G Page 3 of 5 Pages This Amendment to Schedule 13G (the "Amendment") amends the Schedule 13G filed with the Securities and Exchange Commission on December 4, 1998 (the "Schedule 13G") jointly by William Ashley Turner and Debra C. Turner, Joint Tenants with right of survivorship (together, the "Reporting Persons"), with respect to the common stock, par value $1.00 per share ("Shares"), of Four Oaks Fincorp, Inc., a North Carolina corporation (the "Company"). Except as provided in Item 4, the Amendment amends and restates the Schedule 13G. 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) Names of Persons Filing This statement is filed by William Ashley Turner and Debra C. Turner, Joint Tenants with right of survivorship. (b) Address of Principal Business Office or, if none, Residence: 2256 Shotwell Road Clayton, North Carolina 27520 (c) Place of Organization or 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. CUSIP No. 350891 10 7 13G Page 4 of 5 Pages Item 4. Ownership (a) Amount Beneficially Owned: As of December 31, 1998, the Reporting Person beneficially owned 69,292.73 Shares which includes 171.831 shares owned by William Ashley Turner individually and 171.831 shares owned by Debra C. Turner, individually. The Reporting Person declares that the filing of this Schedule 13G shall not be construed as an admission that it is, for purposes of Section 13(d) or Section 13(g) of the Act, the beneficial owner of any of the Shares owned of record by William Ashley Turner or Debra C. Turner. The Reporting Person has no power to vote, direct the voting of, dispose of, or direct the disposition of such Shares owned by William Ashley Turner or Debra C. Turner. (b) Percent of Class: Such 69,292.73 shares of Common Stock are 5.13% of the 1,349,039 shares of Common Stock outstanding as of December 31, 1998. (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 68,949.068 (ii) shared power to vote or to direct the vote: -0- (iii) sole power to dispose or to direct the disposition of: 68,949.068 (iv) shared power to dispose or to direct the disposition of: -0- 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 Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company Not Applicable Item 8. Identification and Classification of Members of the Group Not Applicable Item 9. Notice of Dissolution of Group Not Applicable CUSIP No. 350891 10 7 13G Page 5 of 5 Pages Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 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 11, 1999 Signature: /s/ William Ashley Turner ----------------------------- Name: William Ashley Turner, in his capacity as Joint Tenant with right of survivorship Signature: /s/ Debra C. Turner ----------------------------- Name: Debra C. Turner, in her capacity as Joint Tenant with right of survivorship -----END PRIVACY-ENHANCED MESSAGE-----