-----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, Me9WSK2qemwFdKdxUMiStMddTJ0HwtgwhFX09qN05jOy94WqJLQKK3o+gDk+mb3A sjltVQwZnGhpMBjn19MGpA== 0000950117-99-000292.txt : 19990217 0000950117-99-000292.hdr.sgml : 19990217 ACCESSION NUMBER: 0000950117-99-000292 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990216 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: USB HOLDING CO INC CENTRAL INDEX KEY: 0000707805 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 363197969 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-35002 FILM NUMBER: 99541536 BUSINESS ADDRESS: STREET 1: 100 DUTCH HILL RD CITY: ORANGEBURG STATE: NY ZIP: 10962 BUSINESS PHONE: 9143654600 MAIL ADDRESS: STREET 1: 100 DUTCH HILL ROAD STREET 2: 100 DUTCH HILL ROAD CITY: ORANGEBURG STATE: NY ZIP: 10962 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TORSOE KENNETH CENTRAL INDEX KEY: 0001049348 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 100 DUTCH HILL RD CITY: ORANGEBURG STATE: NY ZIP: 10962 BUSINESS PHONE: 9143654600 MAIL ADDRESS: STREET 1: USB HOLDING CO STREET 2: 100 DUTCH HILL ROAD CITY: ORANGEBURG STATE: NY ZIP: 10962 SC 13G/A 1 KENNETH J. TORSOE SC 13G/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------- SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1 (b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2 (b) (Amendment No. 3)(1) U.S.B. Holding Co., Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $0.01 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 902910108 - -------------------------------------------------------------------------------- (CUSIP Number) December 31, 1998 - -------------------------------------------------------------------------------- (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) [ ] Rule 13d-1 (c) [X] Rule 13d-1 (d) - -------- (1) 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 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 5 Pages CUSIP No. 902910108 13G Page 2 of 5 Pages --------- -- -- - -------------------------------------------------------------------------------- NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 1 Kenneth J. Torsoe - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] 2 (b) [ ] - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- SOLE VOTING POWER 5 1,502,916 shares (inclusive of 68,200 shares issuable upon the exercise of vested stock options) (see Item 4) NUMBER OF ------------------------------------------------------ SHARES SHARED VOTING POWER BENEFICIALLY 6 None OWNED BY ------------------------------------------------------ EACH SOLE DISPOSITIVE POWER REPORTING 7 1,502,916 shares (inclusive of 68,200 PERSON WITH shares issuable upon the exercise of vested stock options) (see Item 4) ------------------------------------------------------ 8 SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,502,916 shares (see Item 4) - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES 10 CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11 9.4% (see Item 4) - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 2 of 5 Pages ITEM 1(a). NAME OF ISSUER: U.S.B. Holding Co., Inc. ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 100 Dutch Hill Road, Orangeburg, NY 10962 ITEM 2(a). NAME OF PERSON FILING: Kenneth J. Torsoe ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: c/o Union State Bank, 100 Dutch Hill Road, Orangeburg, NY 10962 ITEM 2(c). CITIZENSHIP: United States ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock ITEM 2(e). CUSIP NUMBER: 902910108 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:. Not applicable. ITEM 4. OWNERSHIP. (a) Amount Beneficially Owned: 1,502,916 shares of Common Stock This amount includes: (i) 1,434,716 shares of Common Stock owned directly by Mr. Torsoe; and (ii) vested employee stock options to purchase 68,200 shares of Common Stock held by Mr. Torsoe. (b) Percent of Class: 9.4% This percentage is based upon 15,963,547 shares of Common Stock issued and outstanding as of December 31, 1998, plus the aggregate number of shares which the Reporting Person has the right to acquire within 60 days pursuant to the exercise of vested stock options. (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 1,502,916 shares of Common Stock Page 3 of 5 Pages This amount includes: (i) 1,434,716 shares of Common Stock owned directly by Mr. Torsoe; and (ii) vested employee stock options to purchase 68,200 shares of Common Stock held by Mr. Torsoe. (ii) shared power to vote or direct the vote: None (iii) sole power to dispose or to direct the disposition of: 1,502,916 shares of Common Stock This amount includes: (i) 1,434,716 shares of Common Stock owned directly by Mr. Torsoe; and (ii) vested employee stock options to purchase 68,200 shares of Common Stock held by Mr. Torsoe. (iv) shared power to dispose or to direct the disposition of: None 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. ITEM 10. CERTIFICATIONS. Not applicable. Page 4 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 12, 1999 /s/ KENNETH J. TORSOE --------------------- KENNETH J. TORSOE Page 5 of 5 Pages -----END PRIVACY-ENHANCED MESSAGE-----