-----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, J3JWjSMSXrTubGt4yqQFPNDKznSwP/Xr4nhj9LgOBYpCAF8SKFcZ81YrOG2JUhG0 j/GhQmUgH/hzoZ1vxboeJQ== 0000904280-98-000276.txt : 19980916 0000904280-98-000276.hdr.sgml : 19980916 ACCESSION NUMBER: 0000904280-98-000276 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980915 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COOPERATIVE BANKSHARES INC CENTRAL INDEX KEY: 0000923529 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036] IRS NUMBER: 561886527 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-43993 FILM NUMBER: 98709702 BUSINESS ADDRESS: STREET 1: 201 MARKET ST CITY: WILMINGTON STATE: NC ZIP: 28401 BUSINESS PHONE: 9103430181 MAIL ADDRESS: STREET 1: PO BOX 600 CITY: WILMINGTON STATE: NC ZIP: 28402 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ESTATE OF WILLETTS FREDERICK JR CENTRAL INDEX KEY: 0001070411 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1103 WINDSOR DR CITY: WILMINGTON STATE: NC ZIP: 28403 BUSINESS PHONE: 9197626971 MAIL ADDRESS: STREET 1: 1103 WINDSOR DR CITY: WILMINGTON STATE: NC ZIP: 28403 SC 13D/A 1 AMENDMENT NO.2 TO SCHEDULE 13D FOR THE ESTATE OF FREDERICK WILLETTS, JR. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2) Cooperative Bankshares, Inc. -------------------------------------------------- (Name of Issuer) Common Stock, par value $1.00 per share -------------------------------------------------- (Title of Class of Securities) 216844 10 0 -------------------- (CUSIP Number) Estate of Frederick Willetts, Jr. Helen M. Willetts, Executrix Frederick Willetts, III, Executor 1103 Windsor Drive Wilmington, North Carolina 28403-2550 (919) 762-6971 ------------------------------------------------ (Name, address and telephone number of person authorized to receive notices and communications) June 10, 1998 -------------------------------------------------------- (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. [ ] CUSIP No. 216844 10 0 Page 1 of 5 Pages 1. Name of reporting person: Estate of Frederick Willetts, Jr. SSN of reporting person: ###-##-#### 2. Check the appropriate box if a member of a group: (a) [ ] (b) [ X ] 3. SEC use only: 4. Sources of funds: N/A 5. Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e): [ ] 6. Citizenship or place of organization: United States Number of 7. Sole Voting Power: 59,460 shares beneficially 8. Shared Voting Power: 0 owned by each 9. Sole Dispositive Power: 59,460 reporting person with 10. Shared Dispositive Power: 0 11. Aggregate amount beneficially owned by each reporting person: 59,460 12. Check box if the aggregate amount in Row (11) excludes certain shares: [ ] 13. Percent of class represented by amount in Row (11): 2.0% 14. Type of reporting person: OO Page 2 of 5 Pages The undersigned hereby amends the Schedule 13D as a final amendment to the filings made previously on September 19, 1994, and amendment #1 filed on February 20, 1996 pursuant to Rule 13d-2(a) under the Securities Exchange Act of 1934, as amended. Frederick Willetts, Jr. died on May 27, 1998. As a result of Mr. Willetts' death, his estate's beneficial ownership and voting and dispositive power over shares of common stock, par value $1.00 per share (the "Common Stock") of Cooperative Bankshares, Inc. (the "Issuer") has been reduced to 2.0% of the shares outstanding. Item 1. Security and Issuer - ---------------------------- The class of equity securities to which this statement relates is the Common Stock. The executive office of the Issuer is located at 201 Market Street, P.O. Box 600, Wilmington, North Carolina 28402-0600. Item 2. Identity and Background - -------------------------------- (a) Name: Estate of Frederick Willetts, Jr. (b) Address: 1103 Windsor Drive, Wilmington, North Carolina 28403-2550 (c) Present Principal Occupation: N/A (d) Criminal Proceeding Convictions: None (e) Securities Laws Proceedings: None Item 3. Source and Amount of Funds or Other Consideration - ---------------------------------------------------------- N/A Item 4. Purpose of Transaction - ------------------------------- All reported shares of the Common Stock are being held for investment purposes. The reporting person has no intention to invest in any additional shares of Common Stock. Upon the Page 3 of 5 Pages probate of the estate, all shares of Common Stock will be distributed to beneficiaries of the estate. The reporting person has no current plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer, except as described above; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer's business or corporate structure; (g) changes in the Issuer's Charter or Bylaws or other actions which may impede the acquisition of control of the Issuer by any person; (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act; or Page 4 of 5 Pages (j) any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer - --------------------------------------------- (a) The reporting person beneficially owns 59,460 shares constituting 2.0% of the total shares of Common Stock. Included in this amount are 13,332 shares which the reporting person has the right to acquire under the stock option plan of the Issuer. (b) The reporting person had sole voting and dispositive power with respect to the shares of Common Stock described in paragraph 5(a) above. (c) No transactions have occurred in the past 60 days. (d) Not applicable. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer - --------------------------------------------------------------- Not applicable. Item 7. Material to be Filed as Exhibits - ----------------------------------------- None. 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: September 11, 1998 /s/ Helen M. Willetts ------------------------------------ Helen M. Willetts, Executrix for the Estate of Frederick Willetts, Jr. Date: September 11, 1998 /s/ Frederick Willetts, III ------------------------------------- Frederick Willetts, III, Executor for the Estate of Frederick Willetts, Jr. -----END PRIVACY-ENHANCED MESSAGE-----