-----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, ByS4io1/I1R9YYiwZNrw9d8Oshb6RtNcoYzsZfu6JeLzyJzLwcZXiYg4WPhLe26y sKbvR+JhDhzW2FFfzx1/rw== 0000950144-01-002238.txt : 20010214 0000950144-01-002238.hdr.sgml : 20010214 ACCESSION NUMBER: 0000950144-01-002238 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010213 GROUP MEMBERS: FRED TAYLOR GROUP MEMBERS: REX G. KEELING, JR. GROUP MEMBERS: SOUTHERN BANC CO INC EMPLOYEE STOCK OWNERSHIP PLAN GROUP MEMBERS: THOMAS F. DOWLING SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN BANC CO INC CENTRAL INDEX KEY: 0000946453 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 631146351 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-48433 FILM NUMBER: 1535291 BUSINESS ADDRESS: STREET 1: 221 S. 6TH STREET CITY: GADSDEN STATE: AL ZIP: 35901-4102 BUSINESS PHONE: 2565433860 MAIL ADDRESS: STREET 1: 221 S 6TH STREET CITY: GADSDEN STATE: AL ZIP: 35901-4102 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN BANC CO INC EMPLOYEE STOCK OWNERSHIP PLAN CENTRAL INDEX KEY: 0001033070 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 631146351 STATE OF INCORPORATION: AL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 221 S 6TH ST CITY: GADSDEN STATE: AL ZIP: 35901-4102 BUSINESS PHONE: 2055433860 MAIL ADDRESS: STREET 1: 221 S 6TH ST CITY: GADSDEN STATE: AL ZIP: 35901-4102 SC 13G/A 1 g66886sc13ga.txt THE SOUTHERN BANC COMPANY, INC. 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (RULE 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13D-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. 5)* The Southern Banc Company, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 842233 10 8 - -------------------------------------------------------------------------------- (CUSIP Number) N/A - -------------------------------------------------------------------------------- (Date of event which requires filing of this statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] 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). Page 1 of 7 Pages 2 CUSIP NO. 842233 10 8 13G Page 2 OF 7 Pages --------------------- ----- ----- (1) NAMES OF REPORTING PERSON: The Southern Banc Company, Inc. Employee Stock Ownership Plan I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 63-1161782 --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ x ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION State of Alabama --------------------------------------------------------------------- (5) SOLE VOTING POWER 0 NUMBER OF SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 110,285 OWNED BY EACH -------------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER 0 PERSON WITH -------------------------------------------------------- (8) SHARED DISPOSITIVE POWER 110,285 -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 110,285 --------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 10.96% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON* EP --------------------------------------------------------------------- 3 CUSIP NO. 842233 10 8 13G Page 3 of 7 Pages --------------------- ----- ----- (1) NAMES OF REPORTING PERSON: Thomas F. Dowling I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ x ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America --------------------------------------------------------------------- (5) SOLE VOTING POWER 17,712 NUMBER OF SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 71,332 OWNED BY EACH -------------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER 17,712 PERSON WITH -------------------------------------------------------- (8) SHARED DISPOSITIVE POWER 117,261 -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 134,973 --------------------------------------------------------------------- (10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 13.41% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON* IN --------------------------------------------------------------------- 4 CUSIP NO. 842233 10 8 13G PAGE 4 OF 7 PAGES --------------------- ----- ----- (1) NAMES OF REPORTING PERSON: Fred Taylor I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY) --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America --------------------------------------------------------------------- (5) SOLE VOTING POWER NUMBER OF 16,834 SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER OWNED BY 68,082 EACH -------------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER PERSON WITH 16,834 -------------------------------------------------------- (8) SHARED DISPOSITIVE POWER 114,011 -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 130,845 --------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 13% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON* IN --------------------------------------------------------------------- 5 CUSIP NO. 842233 10 8 13G PAGE 5 OF 7 PAGES --------------------- ----- ----- (1) NAME OF REPORTING PERSON: Rex G. Keeling, Jr. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (See Instructions) (b) [ X ] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America --------------------------------------------------------------------- (5) SOLE VOTING POWER 16,834 NUMBER OF SHARES -------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 67,982 OWNED BY EACH -------------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER 16,834 PERSON WITH -------------------------------------------------------- (8) SHARED DISPOSITIVE POWER 113,911 -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 130,745 --------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.99% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON* IN --------------------------------------------------------------------- 6 Page 6 of 7 Pages ITEM 1(A). NAME OF ISSUER: The Southern Banc Company, Inc. ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 221 6th Street Gadsden, Alabama 35901-4102 ITEM 2(A). NAME OF PERSON(S) FILING: The Southern Banc Company, Inc. Employee Stock Ownership Plan Trust ("ESOP"), and the following individuals who serve as its trustees: Thomas F. Dowling, Fred Taylor, and Rex G. Keeling, Jr. ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE: Same as Item 1(b). ITEM 2(C). CITIZENSHIP: See Row 4 of the second part of the cover page provided for each reporting person. ITEM 2(D). TITLE OF CLASS OF SECURITIES: Common Stock, Par Value $.01 per share. ITEM 2(E). CUSIP NUMBER: See the upper left corner of the second part of the cover page provided for each reporting person. ITEM 3. CHECK WHETHER THE PERSON FILING IS A: (f) |X| Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see 13d-1(b)(1)(ii)(F), Items (a), (b), (c), (d), (e), (g), and (h), (i), and (j) - not applicable. This Schedule 13G is being filed on behalf of the ESOP identified in Item 2(a), filing under the Item 3(f) classification, and by each trustee of the trust established pursuant to the ESOP, filing pursuant to Rule 13d-1(c) and SEC no-action letters. Exhibit A contains a disclosure of the voting and dispositive powers over shares of the issuer held directly by these entities. ITEM 4. OWNERSHIP. (a) Amount Beneficially Owned: See Row 9 of the second part of the cover page provided for each reporting person. (b) Percent of Class: See Row 11 of the second part of the cover page provided for each reporting person. (c) See Rows 5, 6, 7, and 8 of the second part of the cover page provided for each reporting person. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: |_| ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. The ESOP Committee has the power to determine whether dividends on allocated shares that are paid to the ESOP trust are distributed to participants or are used to repay the ESOP Loan. 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 acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purpose or effect. By signing below, each signatory in his individual capacity certifies that, to the best of his 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. 7 Page 7 of 7 Pages SIGNATURE: After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this agreement is true, complete and correct. THE SOUTHERN BANC COMPANY, INC. EMPLOYEE STOCK OWNERSHIP PLAN By Its Trustees: /s/ Thomas F. Dowling 2-2-01 - ------------------------------------------------ --------------------------- Thomas F. Dowling, as Trustee Date /s/ Fred Taylor 2-1-01 - ------------------------------------------------ --------------------------- Fred Taylor, as Trustee Date /s/ Rex G. Keeling, Jr. 2-5-01 - ------------------------------------------------ --------------------------- Rex G. Keeling, Jr., as Trustee Date /s/ Thomas F. Dowling 2-2-01 - ------------------------------------------------ --------------------------- Thomas F. Dowling, as an Individual Stockholder Date /s/ Fred Taylor 2-1-01 - ------------------------------------------------ --------------------------- Fred Taylor, as an Individual Stockholder Date /s/ Rex G. Keeling 2-5-01 - ------------------------------------------------ --------------------------- Rex G. Keeling Jr., as an Individual Stockholder Date
8 EXHIBIT A The trustees of the ESOP hold shares of common stock of the issuer in trust for the benefit of employees participating in the ESOP. Pursuant to Section 13.6 of the ESOP, (i) the trustees vote common stock allocated to participant accounts in accordance with instructions by participants, (ii) shares of common stock of the issuer which have not been allocated and allocated stock for which no voting direction has been received shall be voted by the trustee in the same proportion that participants direct the voting of allocated shares, and (iii) if no voting direction has been received as to allocated shares, the issuer may direct the trustees as to the voting of all unallocated shares, and if the issuer gives no direction, the trustees shall vote such shares in their sole discretion. Pursuant to Section 13.3 of the ESOP, the trustees exercise investment direction as directed by the issuer in its capacity as the ESOP Committee. Overall, the trustees must exercise voting and dispositive power with respect to the assets held by the ESOP, including common stock of the issuer, in accordance with the fiduciary responsibility requirements imposed by Section 404 of the Employee Retirement Income Security Act of 1974, as amended. -----END PRIVACY-ENHANCED MESSAGE-----