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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. 1 )*
Northeast Bancorp
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $ 1.00 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
663904100
--------------------------------------------------------------------------------
(CUSIP Number)
Mr. Terry Maltese, Sandler O'Neill Asset Management LLC,
780 Third Avenue, 30th Floor, New York, NY 10017 (212) 486-7300
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
February 26, 2002
--------------------------------------------------------------------------------
(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 13 pages.
----- ----
Exhibit Index located on Page SEC 1746 (12-91)
---
SCHEDULE 13D
----------------------------------- -----------------------------------
CUSIP No. 663904100 Page 2 of 13 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
---------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY --------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
OWNED BY
170,000
EACH
--------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH --------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
170,000
---------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
170,000
---------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_]
---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
---------------------------------------------------------------------------------------------------------------------------------
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.
2 of 9
----------------------------------- -----------------------------------
CUSIP No. 663904100 Page 3 of 13 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
---------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY --------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
OWNED BY
152,500
EACH
--------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH --------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
152,500
---------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
152,500
---------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_]
---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.9%
---------------------------------------------------------------------------------------------------------------------------------
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.
3 of 9
----------------------------------- -----------------------------------
CUSIP No. 663904100 Page 4 of 13 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
---------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY --------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
OWNED BY
10,800
EACH
--------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH --------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,800
---------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,800
---------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_]
---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
---------------------------------------------------------------------------------------------------------------------------------
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.
4 of 9
----------------------------------- -----------------------------------
CUSIP No. 663904100 Page 5 of 13 Pages
------------------------- ----- -----
----------------------------------- -----------------------------------
---------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Partners 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
---------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY --------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
OWNED BY
37,900
EACH
--------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH --------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
37,900
---------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
37,900
---------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_]
---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
---------------------------------------------------------------------------------------------------------------------------------
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.
5 of 9
----------------------------------- -----------------------------------
CUSIP No. 663904100 Page 6 of 13 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
---------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY --------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
OWNED BY
16,400
EACH
--------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH --------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
16,400
---------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,400
---------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_]
---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
---------------------------------------------------------------------------------------------------------------------------------
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.
6 of 9
----------------------------------- -----------------------------------
CUSIP No. 663904100 Page 7 of 13 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
---------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY --------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
OWNED BY
87,400
EACH
--------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH --------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
87,400
---------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
87,400
---------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_]
---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.4%
---------------------------------------------------------------------------------------------------------------------------------
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.
7 of 9
----------------------------------- -----------------------------------
CUSIP No. 663904100 Page 8 of 13 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
Delaware
---------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY --------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
OWNED BY
17,500
EACH
--------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH --------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
17,500
---------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,500
---------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_]
---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
---------------------------------------------------------------------------------------------------------------------------------
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.
8 of 9
----------------------------------- -----------------------------------
CUSIP No. 663904100 Page 9 of 13 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
---------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY --------------------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
OWNED BY
170,000
EACH
--------------------------------------------------------------------------------------------------------
REPORTING PERSON 9 SOLE DISPOSITIVE POWER
WITH --------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
170,000
---------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
170,000
---------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_]
---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
---------------------------------------------------------------------------------------------------------------------------------
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.
9 of 9
This Amendment No. 1 to Schedule 13D relating to Northeast Bancorp (the
"Issuer") is being filed on behalf of the undersigned to amend the Schedule 13D
dated April 20, 2001 (the "Schedule 13D'). Terms defined in the Schedule 13D and
not defined herein have the same meaning as in the Schedule 13D.
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, MPII, MHFII and MO is $104,868, $161,969,
$371,000, $886,539 and $170,037, respectively. Such shares were purchased with
the investment capital of the respective entities.
Item 5. Interest in Securities of the Issuer.
(a) Based upon an aggregate of 2,578,300 shares of Common Stock outstanding, as
set forth in the Issuer's Quarterly Report on Form 10-Q for the quarter ended
December 31, 2001, as of the close of business on February 26, 2002:
(i) MP beneficially owned 10,800 shares of Common Stock, constituting
approximately 0.4% of the shares outstanding.
(ii) MHF beneficially owned 16,400 shares of Common Stock, constituting
approximately 0.6% of the shares outstanding.
(iii) MPII beneficially owned 37,900 shares of Common Stock, constituting
approximately 1.5% of the shares outstanding.
(iv) MHFII beneficially owned 87,400 shares of Common Stock, constituting
approximately 3.4% of the shares outstanding.
(v) MO beneficially owned 17,500 shares of Common Stock, constituting
approximately 0.7% of the shares outstanding.
(vi) SOAM owned directly no shares of Common Stock. By reason of its
position as management company for MP, MHF, MPII, MHFII and MO, under
the provisions of Rule 13d-3, SOAM may be deemed to beneficially own
the 10,800 shares owned by MP, the 16,400 shares owned by MHF, the
37,900 shares owned by MPII, the 87,400 shares owned by MHFII and the
17,500 shares owned by MO, or an aggregate of 170,000 shares of Common
Stock, constituting approximately 6.6% of the shares outstanding.
(vii) Holdings owned directly no shares of Common Stock. By reason of its
position as general partner of MP, MHF, MPII and MHFII, under the
provisions of Rule 13d-3 of the Securities and Exchange Commission
("Rule 13d-3"), Holdings may be deemed to beneficially own the 10,800
shares owned by MP, the 16,400 shares owned by MHF, the 37,900 shares
owned by MPII, and the 87,400 shares owned by MHFII, or an aggregate of
152,500 shares of Common Stock, constituting approximately 5.9% of the
shares outstanding.
Page 10 of 13
(viii) 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 10,800 shares owned by MP, the 16,400 shares
owned by MHF, the 37,900 shares owned by MPII, the 87,400 shares owned
by MHFII and the 17,500 shares owned by MO, or an aggregate of 170,000
shares of Common Stock, constituting approximately 6.6% of the shares
outstanding.
(ix) In the aggregate, the Reporting Persons beneficially own an aggregate
of 170,000 shares of Common Stock, constituting approximately 6.6% of
the shares outstanding.
(ix) 2WTC 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 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. MO
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
MO. 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 sixty days prior to February 26, 2002, MP effected the following
transaction in the Common Stock in open market transactions with brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
02/26/02 Bought 400 $13.360
During the sixty days prior to February 26, 2002, MHF effected the
following transaction in the Common Stock in open market transactions with
brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
02/26/02 Bought 900 $13.360
Page 11 of 13
During the sixty days prior to February 26, 2002, MPII effected the
following transaction in the Common Stock in open market transactions with
brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
02/26/02 Bought 1,800 $13.360
During the sixty days prior to February 26, 2002, MHFII effected the
following transactions in the Common Stock in open market transactions with
brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
02/26/02 Bought 4,900 $13.360
01/04/02 Bought 5,000 $12.680
During the sixty days prior to February 26, 2002, MO effected the
following transaction in the Common Stock in open market transactions with
brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
02/26/02 Bought 900 $13.360
(d) Not applicable.
(e) Not applicable.
Page 12 of 13
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: March 7, 2002
MALTA PARTNERS, L.P. MALTA HEDGE FUND, L.P.
By: SOAM Holdings, LLC, By: SOAM Holdings, LLC,
the sole general partner the sole general partner
By: /s/ Terry Maltese By: /s/ Terry Maltese
------------------------------------ ------------------------------------------------
Terry Maltese Terry Maltese
President President
MALTA PARTNERS II, L.P. MALTA HEDGE FUND II, L.P.
By: SOAM Holdings, LLC, By: SOAM Holdings, LLC,
the sole general partner the sole general partner
By: /s Terry Maltese By: /s/ Terry Maltese
----------------------------------- ----------------------------------------------
Terry Maltese Terry Maltese
President President
MALTA OFFSHORE, LTD Sandler O'Neill Asset Management LLC
By: Sandler O'Neill Asset Management LLC
By: /s/ Terry Maltese By: /s/ Terry Maltese
---------------------------------- -----------------------------------------------
Terry Maltese Terry Maltese
President President
SOAM Holdings, LLC Terry Maltese
By: /s/ Terry Maltese /s/ Terry Maltese
---------------------------------- -----------------------------------
Terry Maltese Terry Maltese
President
Page 13 of 13