-----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, V8AfmhniZcgCtSnAFhfbtXmxtmdtAfh4Nkl1aKlm+bhaMs3OKozS9KH2/26LzyPT 1dtCCV+em98bhmmoic3b8A== 0001157523-07-001397.txt : 20070212 0001157523-07-001397.hdr.sgml : 20070212 20070212104516 ACCESSION NUMBER: 0001157523-07-001397 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070212 DATE AS OF CHANGE: 20070212 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TURNER WILLIAM ASHLEY CENTRAL INDEX KEY: 0001230949 FILING VALUES: FORM TYPE: SC 13G/A MAIL ADDRESS: STREET 1: 111 ALEOH COURT CITY: CLAYTON STATE: NC ZIP: 27520 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/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-53393 FILM NUMBER: 07600776 BUSINESS ADDRESS: STREET 1: 6144 US 301 SOUTH STREET 2: P O BOX 309 CITY: FOUR OAKS STATE: NC ZIP: 27524 BUSINESS PHONE: 9199632177 SC 13G/A 1 a5332190.txt FOUR OAKS FINCORP, INC. SC13G/A TURNER CUSIP No. 350891 10 7 13G/A Page 1 of 5 Pages ------------------------------ UNITED STATES OMB APPROVAL SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 -------------------------------- OMB Number: 3235-0145 Expires: February 28, 2009 Estimated average burden hours per response . . . 10.4 -------------------------------- SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 10)* -------------------------------------- FOUR OAKS FINCORP, INC. (Name of Issuer) COMMON STOCK $1.00 PAR VALUE (Title of Class of Securities) 350891 10 7 (CUSIP Number) December 31, 2006 ---------------- (Date of Event which Requires Filing of this Statement) 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. 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)) CUSIP No. 350891 10 7 13G/A 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 290,790.7751 SHARES BENEFICIALLY 6. SHARED VOTING POWER 0 OWNED BY EACH 7. SOLE DISPOSITIVE POWER 290,790.7751 REPORTING PERSON 8. SHARED DISPOSITIVE POWER 0 WITH: 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 293,226.4959(1) 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] (See Instructions) NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.6%(2) 12. TYPE OF REPORTING PERSON (See Instructions) IN - -------------------- (1) Includes 851.8604 shares owned individually by William Ashley Turner, 851.8604 shares owned individually by Debra C. Turner, and 732 shares William Ashley Turner has the right to acquire within 60 days from December 31, 2006 pursuant to the exercise of stock options. (2) Based on 4,438,913 shares outstanding as of November 1, 2006, as provided by the Issuer on its Form 10-Q filed on November 14, 2006. CUSIP No. 350891 10 7 13G/A Page 3 of 5 Pages Item 1. (a) Name of Issuer Four Oaks Fincorp, Inc. (b) Address of Issuer's Principal Executive Offices 6114 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 181 Cleveland Crossing Drive Garner, North Carolina 27529 (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 As of December 31, 2006, the Reporting Person beneficially owned 293,226.4959 shares, which includes 851.8604 shares owned by William Ashley Turner individually, 851.8604 shares owned by Debra C. Turner individually, and 732 shares that William Ashley Turner has the right to acquire within 60 days from December 31, 2006 pursuant to the exercise of stock options. 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 disclaims beneficial ownership of the shares owned by William Ashley Turner individually and Debra C. Turner individually. CUSIP No. 350891 10 7 13G/A Page 4 of 5 Pages (b) Percent of Class: Such 293,226.4959 shares of Common Stock are 6.6% of the 4,438,913 shares of Common Stock outstanding as of November 1, 2006. (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 290,790.7751 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 290,790.7751 (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 As stated above, William Ashley Turner and Debra C. Turner each own 851.8604 shares individually and have the right to receive dividends and proceeds from the sale of such shares. Also as stated above, William Ashley Turner beneficially owns 732 shares, which he has the right to acquire within 60 days from December 31, 2006 pursuant to the exercise of stock options. 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 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. CUSIP No. 350891 10 7 13G/A Page 5 of 5 Pages 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 9th, 2007 Signature: /s/ William Ashley Turner -------------------------------- Name: William Ashley Turner, in his capacity as Joint Tenant with right of survivorship /s/ Debra C. Turner -------------------------------- Name: Debra C. Turner, in her capacity as Joint Tenant with right of survivorship -----END PRIVACY-ENHANCED MESSAGE-----