SC 13G/A 1 0001.txt 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 2)* Grand Central Financial Corp. _______________________________________________________________ (Name of Issuer) Common Stock, par value $0.01 per share _______________________________________________________________ (Title of Class of Securities) 36527S-10-2 _______________________________________________________________ (CUSIP Number) December 31, 2000 _______________________________________________________________ (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) /_/ 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). SEC 1745 (2-95) Page 1 of 5 pages 2 ________________________________________________________________________________ CUSIP NO. 36527S-10-2 13G/A Page 2 of 5 Pages ________________________________________________________________________________ ________________________________________________________________________________ 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Central Federal Savings and Loan Association of Wellsville Employee Stock Ownership Plan ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* _ (a) |_| (b) |_| ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 CITIZENSHIP OR PLACE OF ORGANIZATION State of Ohio ________________________________________________________________________________ 5 SOLE VOTING POWER NUMBER OF 159,569 SHARES ___________________________________________________________ 6 SHARED VOTING POWER BENEFICIALLY 45,844 OWNED BY ___________________________________________________________ 7 SOLE DISPOSITIVE POWER EACH 205,413 REPORTING ___________________________________________________________ 8 SHARED DISPOSITIVE POWER PERSON WITH 0 ________________________________________________________________________________ 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 205,413 ________________________________________________________________________________ 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* ________________________________________________________________________________ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.7% of 1,749,831 shares of Common Stock outstanding as of December 31, 2000. ________________________________________________________________________________ 12 TYPE OF REPORTING PERSON* EP ________________________________________________________________________________ *SEE INSTRUCTION BEFORE FILLING OUT! 3 CENTRAL FEDERAL SAVINGS AND LOAN ASSOCIATION OF WELLSVILLE EMPLOYEE STOCK OWNERSHIP PLAN SCHEDULE 13G/A Item 1(a) Name of Issuer: Grand Central Financial Corp. Item 1(b) Address of Issuer's Principal Executive Offices: 601 Main Street Wellsville, Ohio 43968 Item 2(a) Name of Person Filing: Central Federal Savings and Loan Association of Wellsville Employee Stock Ownership Plan Trustee: First Bankers Trust Company, N.A. P.O. Box 3566 Quincy, Illinois 62305 Item 2(b) Address of Principal Business Offices or, if none, Residence: 601 Main Street Wellsville, Ohio 43968 Item 2(c) Citizenship: Federally chartered stock savings institution's employee stock benefit plan organized in Ohio. Item 2(d) Title of Class of Securities: Common Stock par value $0.01 per share Item 2(e) CUSIP Number: 36527S-10-2 Item 3 The person filing this statement is an employee benefit plan which is subject to the provisions of the Employee Retirement Income Security Act of 1974. Item 4 Ownership. As of December 31, 2000, the reporting person beneficially owned 205,413 shares of the issuer. This number of shares represents 11.7% of the common stock, par value $0.01, of the issuer, based upon 1,749,831 shares of such common stock outstanding as of December 31, 2000. As of December 31, 2000, the reporting person has sole power to vote or to direct the vote of 159,569 of the shares and shares voting power over 45,844 shares. The reporting person has the sole power to dispose or direct the disposition of 205,413 shares of common stock. Page 3 of 5 pages 4 Item 5 Ownership of Five Percent or Less of a Class. N/A Item 6 Ownership of More than Five Percent on Behalf of Another Person. N/A Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. N/A Item 8 Identification and Classification of Members of the Group. N/A Item 9 Notice of Dissolution of Group. N/A SEC 1745 (2-95) Page 4 of 5 pages 5 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 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. 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. February 7, 2001 ___________________________________________________ (Date) /s/ Linda Shultz __________________________________________________ (Signature) Linda Shultz First Bankers Trust Company, N.A., as Trustee ___________________________________________________ (Name/Title) Page 5 of 5 pages