-----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, Ei1tNnKZAC8jqeZCZx3kyCAYVfSs3QktuN4cqKkUXh/+yRD3isGBac3TF99YTbL7 qb+F3FvxeR5e0HNUyaar5Q== 0001193125-07-134763.txt : 20070613 0001193125-07-134763.hdr.sgml : 20070613 20070613143556 ACCESSION NUMBER: 0001193125-07-134763 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070613 DATE AS OF CHANGE: 20070613 GROUP MEMBERS: MALTA HEDGE FUND II, L.P. GROUP MEMBERS: MALTA HEDGE FUND, L.P. GROUP MEMBERS: MALTA MLC FUND, L.P. GROUP MEMBERS: MALTA MLC OFFSHORE, LTD GROUP MEMBERS: MALTA OFFSHORE, LTD GROUP MEMBERS: MALTA PARTNERS, L.P. GROUP MEMBERS: SOAM HOLDINGS, LLC GROUP MEMBERS: TERRY MALTESE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SAVANNAH BANCORP INC CENTRAL INDEX KEY: 0000860519 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 581861820 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-40998 FILM NUMBER: 07917226 BUSINESS ADDRESS: STREET 1: 25 BULL ST CITY: SAVANNAH STATE: GA ZIP: 31401 BUSINESS PHONE: 9126518200 MAIL ADDRESS: STREET 1: P O BOX 188 CITY: SAVANNAH STATE: GA ZIP: 31402-0188 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SANDLER ONEILL ASSET MANAGEMENT LLC CENTRAL INDEX KEY: 0001040762 IRS NUMBER: 133906061 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 712 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2129741700 MAIL ADDRESS: STREET 1: 712 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D 1 dsc13d.htm SCHEDULE 13D Schedule 13D

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

 

 

Under the Securities Exchange Act of 1934

(Amendment No. )*

 

 

The Savannah Bancorp, Inc.


(Name of Issuer)

 

 

Common Stock, par value $1.00 per share


(Title of Class of Securities)

 

 

804748101


(CUSIP Number)

 

 

Mr. Terry Maltese, Sandler O’Neill Asset Management LLC,

780 Third Avenue, 5th Floor, New York, NY 10017 (212) 486-7300


(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communication)

 

 

June 5, 2007


(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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box  ¨.

 

Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent.

 

* 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 disclosures provided in a prior cover page.

 

The information required on 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).

 

Page 1 of 16 pages.

    Exhibit Index located on Page 12   SEC 1746 (12-91)


SCHEDULE 13D

 

CUSIP No. 804748101

 

Page 2 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

    Sandler O’Neill Asset Management, LLC        

   
  2.  

Check the Appropriate Box if a Member of a Group*

 

 

(a)  ¨

(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.  

Citizen or Place of Organization

 

    New York

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

            330,216    


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

            330,216    

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    330,216

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

    5.66%

   
14.  

Type of Reporting Person*

 

    00

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D

 

CUSIP No. 804748101

 

Page 3 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

    SOAM Holdings, LLC        

   
  2.  

Check the Appropriate Box if a Member of a Group*

 

 

(a)  ¨

(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.  

Citizen or Place of Organization

 

    Delaware

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

            199,975    


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

            199,975    

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    199,975

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

    3.43%

   
14.  

Type of Reporting Person*

 

    00

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D

 

CUSIP No. 804748101

  Page 4 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

    Malta Partners, L.P.

   
  2.  

Check the Appropriate Box if a Member of a Group*

 

 

(a)  ¨

(b)  ¨

  3.  

SEC Use Only

 

   
  4.  

Source of Funds*

 

WC

   
  5.  

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  ¨
  6.  

Citizen or Place of Organization

 

Delaware        

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

        23,700        


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

        23,700        

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    23,700        

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

    0.41%        

   
14.  

Type of Reporting Person*

 

    PN        

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D

 

CUSIP No. 804748101

  Page 5 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

Malta Hedge Fund, L.P.        

   
  2.  

Check the Appropriate Box if a Member of a Group*

 

(a)  ¨

(b)  ¨

 

  3.  

SEC Use Only

 

   
  4.  

Source of Funds*

 

WC        

   
  5.  

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  ¨
  6.  

Citizen or Place of Organization

 

Delaware        

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

    22,550    


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

    22,550    

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

22,550        

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

0.39%        

   
14.  

Type of Reporting Person*

 

PN        

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D

 

CUSIP No. 804748101

  Page 6 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

Malta MLC Fund, L.P.        

   
  2.  

Check the Appropriate Box if a Member of a Group*

 

(a)  ¨

(b)  ¨

 

  3.  

SEC Use Only

 

   
  4.  

Source of Funds*

 

WC        

   
  5.  

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  ¨
  6.  

Citizen or Place of Organization

 

Delaware        

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

    35,200    


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

    35,200    

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

35,200        

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

0.60%        

   
14.  

Type of Reporting Person*

 

PN        

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D

 

CUSIP No. 804748101

  Page 7 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

Malta Hedge Fund II, L.P.        

   
  2.  

Check the Appropriate Box if a Member of a Group*

 

(a)  ¨

(b)  ¨

 

  3.  

SEC Use Only

 

   
  4.  

Source of Funds*

 

WC        

   
  5.  

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  ¨
  6.  

Citizen or Place of Organization

 

Delaware        

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

    118,525    


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

    118,525    

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

118,525        

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

2.03%        

   
14.  

Type of Reporting Person*

 

PN        

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D

 

CUSIP No. 804748101

 

Page 8 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

    Malta MLC Offshore, Ltd            

   
  2.   Check the Appropriate Box if a Member of a Group*  

(a)  ¨

(b)  ¨

 

  3.  

SEC Use Only

 

   
  4.  

Source of Funds*

 

    WC        

   
  5.  

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  ¨
  6.  

Citizen or Place of Organization

 

    Cayman Islands        

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

            54,016


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

            54,016

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

54,016

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

0.93%

   
14.  

Type of Reporting Person*

 

CO

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D

 

CUSIP No. 804748101

 

Page 9 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

    Malta Offshore, Ltd            

   
  2.   Check the Appropriate Box if a Member of a Group*  

(a)  ¨

(b)  ¨

 

  3.  

SEC Use Only

 

   
  4.  

Source of Funds*

 

    WC        

   
  5.  

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  ¨
  6.  

Citizen or Place of Organization

 

    Cayman Islands        

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

            76,225


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

            76,225

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

76,225

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

1.31%

   
14.  

Type of Reporting Person*

 

CO

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D

 

CUSIP No. 804748101

 

Page 10 of 16 Pages

 

  1.  

Name of Reporting Person

S.S. or I.R.S. Identification No. of above person

 

Terry Maltese

   
  2.   Check the Appropriate Box if a Member of a Group*  

(a)  ¨

(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.  

Citizen or Place of Organization

 

USA            

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7.    Sole Voting Power

 


  8.    Shared Voting Power

 

    330,216        


  9.    Sole Dispositive Power

 


10.    Shared Dispositive Power

 

    330,216        

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

330,216            

   
12.  

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*

 

 

¨

 

13.  

Percent of Class Represented by Amount in Row (11)

 

5.66%            

   
14.  

Type of Reporting Person*

 

IN        

   

 

*SEE INSTRUCTIONS BEFORE FILLING OUT!

INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7

(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


Item 1.    Security and Issuer.

 

The class of equity securities to which this statement relates is the common stock, par value $1.00 per share (“Common Stock”), of The Savannah Bancorp, Inc. (the “Issuer”), a company incorporated in Georgia, with its principal office at 25 Bull Street, Savannah, GA 31401.

 

Item 2.    Identity and Background.

 

(a)    This statement is being filed by (i) Sandler O’Neill Asset Management LLC, a New York limited liability company (“SOAM”), with respect to shares of Common Stock beneficially owned by Malta Partners, L.P., a Delaware limited partnership (“MP”), Malta Hedge Fund, L.P., a Delaware limited partnership (“MHF”), Malta Hedge Fund II, L.P., a Delaware limited partnership (“MHFII”), Malta Offshore, Ltd., a Cayman Islands company (“MO”), Malta MLC Fund, L.P., a Delaware limited partnership (“MLC”) and Malta MLC Offshore, Ltd., a Cayman Islands company (“MLCO”) (ii) SOAM Holdings, LLC, a Delaware limited liability company (“Holdings”), with respect to shares of Common Stock beneficially owned by MP, MHF, MHFII and MLC, (iii) MP, with respect to shares of Common Stock beneficially owned by it, (iv) MHF, with respect to shares of Common Stock beneficially owned by it, (v) MHFII, with respect to shares of Common Stock beneficially owned by it, (vi) MLC, with respect to shares of Common Stock beneficially owned by it, (vii) MO, with respect to shares of Common Stock beneficially owned by it, (viii) MLCO, with respect to shares of Common Stock beneficially owned by it, and (ix) Terry Maltese, with respect to shares of Common Stock beneficially owned by MP, MHF, MHFII, MLC, MLCO and MO. The foregoing persons are hereinafter sometimes referred to collectively as the “Reporting Persons” and MP, MHF, MHFII and MLC are sometimes collectively referred to herein as the “Partnerships.” Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.

 

The sole general partner of each of the Partnerships is Holdings, and administrative and management services for the Partnerships are provided by SOAM. SOAM also provides management services to MO and MLCO. The managing member and President of Holdings and SOAM is Mr. Maltese. In his capacity as President and managing member of Holdings and SOAM, Mr. Maltese exercises voting and dispositive power over all shares of Common Stock beneficially owned by MP, MHF, MHFII, MLC, MO, MLCO, SOAM and Holdings. The non-managing member of Holdings and SOAM is Sandler O’Neill Holdings LLC, a New York limited liability company (“S.O. Holdings”).

 

(b)    The address of the principal offices of each of MP, MHF, MHFII, MLC, Holdings and SOAM and the business address of Mr. Maltese is Sandler O’Neill Asset Management LLC, 780 Third Avenue, 5th Floor, New York, New York 10017. The address of the principal office of MO and MLCO is c/o BYSIS Hedge Fund Services (Cayman) Limited, P.O. Box 30362 SMB, Harbour Centre, Third Floor, George Town, Grand Cayman, Cayman Islands, British West Indies. The address of the principal office of S.O. Holdings is c/o Sandler O’Neill & Partners, L.P., 919 Third Avenue, 6th Floor, New York, New York 10022.

 

Page 11 of 16


(c)    The principal business of MP, MHF, MHFII and MLC is that of private partnerships engaged in investment in securities for its own account. The principal business of MO and MLCO is that of investment in securities for its own account. The principal business of Holdings is that of acting as general partner for the Partnerships. The principal business of SOAM is that of providing administrative and management services to the Partnerships and management services to MO and MLCO. The present principal occupation or employment of Mr. Maltese is President of SOAM and Holdings. The principal business of S.O. Holdings is investing in Holdings and SOAM.

 

(d)    During the last five years, none of MP, MHF, MHFII, MLC, MO, MLCO, Holdings, SOAM, S.O. Holdings or Mr. Maltese has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

 

(e)    During the last five years, none of MP, MHF, MHFII, MLC, MO, MLCO, Holdings, SOAM, S.O. Holdings or Mr. Maltese has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

(f)    Mr. Maltese is a U.S. citizen.

 

Item 3.    Source and Amount of Funds.

 

The net investment cost (including commissions, if any) of the shares of Common Stock held by MP, MHF, MHFII, MLC, MO and MLCO is $676,290, $643,199, $3,387,633, $878,270, $2,174,001 and $1,347,744 respectively. Such shares were purchased with the investment capital of the respective entities.

 

Item 4.    Purpose of Transaction.

 

The purpose for which the Common Stock was acquired by the Reporting Persons is for investment. As such, in the ordinary course of their business, the Reporting Persons will continuously evaluate the financial condition, results of operations, business and prospects of the Issuer, the securities markets in general and the market for the Common Stock in particular, conditions in the economy and the financial institutions industry generally and other investment opportunities, all with a view to determining whether to hold, decrease or increase its investment in the Common Stock, through open market, privately negotiated or any other transactions. In the ordinary course of evaluating its investment, representatives of the Reporting Persons may from time to time seek to (or be invited to) discuss the business and policies of the Issuer with the management of the Issuer. However, none of the Reporting Persons has any plan or proposal as of the date hereof which would relate to or result in any transaction, change or event specified in clauses (a) through (j) of Item 4 of Schedule 13D.

 

Item 5.    Interest in Securities of the Issuer.

 

(a)    Based upon an aggregate of 5,833,964 shares of Common Stock outstanding, as determined by the Issuer’s most recently available public information, as of the close of business on June 7, 2007:

 

Page 12 of 16


  (i)   MP beneficially owned 23,700 shares of Common Stock, constituting 0.41% of the shares outstanding.

 

  (ii)   MHF beneficially owned 22,550 shares of Common Stock, constituting approximately 0.39% of the shares outstanding.

 

  (iii)   MHFII beneficially owned 118,525 shares of Common Stock, constituting approximately 2.03% of the shares outstanding.

 

  (iv)   MLC beneficially owned 35,200 shares of Common Stock, constituting approximately 0.60% of the shares outstanding.

 

  (v)   MO beneficially owned 76,225 shares of Common Stock, constituting approximately 1.31% of the shares outstanding.

 

  (vi)   MLCO beneficially owned 54,016 shares of Common Stock, constituting approximately 0.93% of the shares outstanding.

 

  (vii)   SOAM owned directly no shares of Common Stock. By reason of its position as management company for MP, MHF, MHFII and MLC, and as the investment manager for MO and MLCO, under the provisions of Rule 13d-3, SOAM may be deemed to beneficially own the 23,700 shares owned by MP, the 22,550 shares owned by MHF, the 118,525 shares owned by MHFII, the 35,200 shares owned by MLC, the 76,225 shares owned by MO, the 54,016 shares owned by MLCO or an aggregate of 330,216 shares of Common Stock, constituting approximately 5.66% of the shares outstanding.

 

  (viii)   Holdings owned directly no shares of Common Stock. By reason of its position as general partner of MP, MHF, MHFII and MLC, under the provisions of Rule 13d-3 of the Securities and Exchange Commission (“Rule 13d-3”), Holdings may be deemed to beneficially own the 23,700 shares owned by MP, the 22,550 shares owned by MHF, the 118,525 shares owned by MHFII, and the 35,200 shares owned by MLC or an aggregate of 199,975 shares of Common Stock, constituting approximately 3.43% of the shares outstanding.

 

  (ix)   Mr. Maltese directly owned no shares of Common Stock. By reason of his position as President of Holdings and SOAM, Mr. Maltese may be deemed to beneficially own the 23,700 shares owned by MP, the 22,550 shares owned by MHF, the 118,525 shares owned by MHFII, the 35,200 shares owned by MLC, the 76,225 shares owned by MO and the 54,016 shares owned by MLCO, or an aggregate of 330,216 shares of Common Stock, constituting approximately 5.66% of the shares outstanding. Mr. Maltese disclaims beneficial ownership in the Issuer’s shares held by these entities except to the extent of his pecuniary interest therein.

 

  (x)   In the aggregate, the Reporting Persons beneficially own 330,216 shares of Common Stock, constituting approximately 5.66% of the shares outstanding.

 

  (xi)   S.O. Holdings directly owned no shares of Common Stock.

 

(b)        The Partnerships each have the power to dispose of and to vote the shares of Common Stock beneficially owned by it, which power may be exercised by its general partner, Holdings. Holdings is a party to a management agreement with SOAM

 

Page 13 of 16


pursuant to which SOAM shares the power to dispose of and to vote the shares of Common Stock beneficially owned by Holdings. MO has the power to dispose of and to vote the shares of Common Stock beneficially owned by it. MLCO has the power to dispose of and to vote the shares of Common Stock beneficially owned by it. Each of MO and MLCO is a party to a management agreement with SOAM pursuant to which SOAM shares the power to dispose of and to vote the shares of Common Stock beneficially owned by each of MO and MLCO. Mr. Maltese, as President and managing member of Holdings and SOAM, shares the power to dispose of and to vote the shares of Common Stock beneficially owned by the other Reporting Persons.

 

(c)        During the 60 days prior to June 7, 2007:

 

The following transactions in the Common Stock were made:

 

Transactions by MP last 60 days

         
                

Date


   Transaction

   Price

   Shares

4/24/2007

   Purchase    24.55    500

5/10/2007

   Purchase    25.85    100

5/11/2007

   Purchase    25.8      200

5/16/2007

   Purchase    25.85    1,000

5/18/2007

   Purchase    25.85    100
                

Transactions by MH last 60 days

         
                

Date


   Transaction

   Price

   Shares

4/24/2007

   Purchase    24.55    500

5/10/2007

   Purchase    25.85    100

5/11/2007

   Purchase    25.8      200

5/16/2007

   Purchase    25.85    1,000

5/18/2007

   Purchase    25.85    100
                

Transactions by MHII last 60 days

         
                

Date


   Transaction

   Price

   Shares

4/24/2007

   Purchase    24.55    2,400

4/26/2007

   Purchase    24.7      300

5/10/2007

   Purchase    25.85    500

5/11/2007

   Purchase    25.8      1,000

5/16/2007

   Purchase    25.85    5,500

5/18/2007

   Purchase    25.85    500

5/21/2007

   Purchase    25.85    300
                

Transactions by MO last 60 days

         
                

Date


   Transaction

   Price

   Shares

4/24/2007

   Purchase    24.55    1,600

4/26/2007

   Purchase    24.7      200

5/10/2007

   Purchase    25.85    300

5/11/2007

   Purchase    25.8      700

5/16/2007

   Purchase    25.85    3,500

5/18/2007

   Purchase    25.85    300

5/21/2007

   Purchase    25.85    100
                

Transactions by MLC last 60 days

         
                

Date


   Transaction

   Price

   Shares

6/5/2007

   Purchase    24.95    35,000

6/6/2007

   Purchase    25.1      200
                

Transactions by MLCO last 60 days

         
                

Date


   Transaction

   Price

   Shares

6/5/2007

   Purchase    24.95    53,716

6/6/2007

   Purchase    25.1      300

 

(d) Not applicable.

 

(e) Not applicable.

 

Item 6.    Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

 

There are no contracts, arrangements, understandings or relationships among the persons named in Item 2 or between such persons and any other person with respect to any securities of the Issuer.

 

Item 7.    Material to be Filed as Exhibits.

 

Exhibit 1   Written Agreement relating to the filing of joint acquisition statements as required by Rule 13d-1(f)(1) of the Securities and Exchange Commission

 

Page 14 of 16


SIGNATURES

 

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.

 

Dated: June 13, 2007

 

MALTA PARTNERS, L.P.

     

MALTA HEDGE FUND, L.P.

By:  

SOAM Holdings, LLC,

the sole general partner         

      By:  

SOAM Holdings, LLC,

the sole general partner

By:  

/s/ Terry Maltese


      By:  

/s/ Terry Maltese


   

Terry Maltese

President

         

Terry Maltese

President

MALTA MLC FUND, L.P.       MALTA HEDGE FUND II, L.P.
By:  

SOAM Holdings, LLC

the sole general partner        

      By:  

SOAM Holdings, LLC,

the sole general partner

By:  

/s/ Terry Maltese


      By:  

/s/ Terry Maltese


   

Terry Maltese

President

         

Terry Maltese

President

       

Sandler O’Neill Asset

MALTA OFFSHORE, LTD      

Management LLC

By:  

Sandler O’Neill Asset

Management LLC         

           
By:  

/s/ Terry Maltese


      By:  

/s/ Terry Maltese


   

Terry Maltese

President

         

Terry Maltese

President

MALTA MLC OFFSHORE, LTD.

       
By:  

Sandler O’Neill Asset

Management LLC         

     

Terry Maltese

By:  

/s/ Terry Maltese


      By:  

/s/ Terry Maltese


   

Terry Maltese

President

          Terry Maltese
         
SOAM Holdings, LLC        
By:  

/s/ Terry Maltese


           
   

Terry Maltese

President

           

 

Page 15 of 16


EXHIBIT 1

 

JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(f)(1)

 

The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning it contained herein, but shall not be responsible for the completeness and accuracy of the information concerning the other, except to the extent that it knows or has reason to believe that such information is inaccurate.

 

Dated: June 13, 2007

 

MALTA PARTNERS, L.P.

     

MALTA HEDGE FUND, L.P.

By:  

SOAM Holdings, LLC,

the sole general partner         

      By:  

SOAM Holdings, LLC,

the sole general partner

By:  

/s/ Terry Maltese


      By:  

/s/ Terry Maltese


   

Terry Maltese

President

         

Terry Maltese

President

MALTA MLC FUND, L.P.       MALTA HEDGE FUND II, L.P.
By:  

SOAM Holdings, LLC

the sole general partner        

      By:  

SOAM Holdings, LLC,

the sole general partner

By:  

/s/ Terry Maltese


      By:  

/s/ Terry Maltese


   

Terry Maltese

President

         

Terry Maltese

President

       

Sandler O’Neill Asset

MALTA OFFSHORE, LTD      

Management LLC

By:  

Sandler O’Neill Asset

Management LLC         

           
By:  

/s/ Terry Maltese


      By:  

/s/ Terry Maltese


   

Terry Maltese

President

         

Terry Maltese

President

MALTA MLC OFFSHORE, LTD.

       
By:  

Sandler O’Neill Asset

Management LLC         

     

Terry Maltese

By:  

/s/ Terry Maltese


      By:  

/s/ Terry Maltese


   

Terry Maltese

President

          Terry Maltese
         
SOAM Holdings, LLC        
By:  

/s/ Terry Maltese


           
   

Terry Maltese

President

           

 

Page 16 of 16

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