SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES
13d- 1(b) (c), AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b).
Amendment No. 3
Falmouth Bancorp, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
306763-10-3
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(CUSIP Number)
N/A
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Date of Event which Requires Filing of this Statement
Check the appropriate box to designate the rule pursuant to which the
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).
CUSIP No. 306763-10-3 13G
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1 NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
Falmouth Co-operative Bank
Employee Stock Ownership Plan and Trust
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Employee benefit plan of Delaware corporation.
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5 SOLE VOTING POWER
0
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 48,008
OWNED BY --------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH: --------------------------------------------------
8 SHARED DISPOSITIVE POWER
84,582
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
84,582
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.26% of 1,023,838 shares of Common Stock outstanding as of
December 31, 2000.
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12 TYPE OF REPORTING PERSON*
EP
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1(a)
Name of Issuer: Falmouth Bancorp, Inc.
Item 1(b)
Address of Issuer's Principal Executive Offices: 20 Davis Straits
Falmouth, Massachusetts 02540
Item 2(a)
Name of Person Filing: Falmouth Co-operative Bank
Employee Stock Ownership Plan and Trust
Trustees:
Item 2(b)
Address of Principal Business Office
or, if none, Residence: 20 Davis Straits
Falmouth, Massachusetts 02540
Item 2(c)
Citizenship: Employee benefit plan of Delaware corporation.
Item 2(d)
Title of Class of Securities: Common stock, par value $0.01 per share
("Common Stock").
Item 2(e)
CUSIP Number: 306763-10-13
Item 3
The person filing is:
(f) [X] An employee benefit plan or endowment fund
in accordance with [SECTION]240.13d-1(b)(1)(ii)(F).
Item 4
Ownership:
The following information with respect to the Plan's ownership of
Common Stock is provided as of December 31, 2000. None of the shares set
forth below constitute shares the beneficial ownership of which the Plan had
the right to acquire within 60 days following such date.
(a) Amount Beneficially Owned 84,582
(b) Percent of Class 8.26%
(c) Number of shares as to which
the person has:
(i) sole power to vote or to
direct the vote 0
(ii) shared power to vote or to
direct the vote 48,008
(iii) sole power to dispose or to
direct the disposition of 0
(iv) shared power to dispose or to
direct the disposition of 84,582
The reporting person is an employee stock ownership plan and trust under the
Employee Retirement Income Security Act of 1974, as amended ("ERISA") with
individual accounts for the accrued benefits of participating employees and
their beneficiaries. The reporting person is administered by an ESOP
Committee ("ESOP Committee") and its assets are held in trust ("ESOP Trust")
by three individual trustees ("Plan Trustees"). The number of shares listed
as beneficially owned represents the entire number of shares of Common Stock
held in the ESOP Trust by the Plan Trustees, as of December 31, 2000. As of
September 30, 2000, 36,574 of such shares of Common Stock had been allocated
to individual accounts established for participating employees and their
beneficiaries, and 48,008 of such shares were held, unallocated, for
allocation in future years. In general, participating employees and their
beneficiaries have the power and authority to direct the voting of shares of
Common Stock allocated to their individual accounts. Such allocated shares
are, therefore, not included as shares over which the reporting person has
sole or shared voting power. The reporting person, through the Plan
Trustees, has shared voting power over unallocated Common Stock. Any
unallocated Common Stock is generally required to be voted by the Plan
Trustees in the same proportion as Common Stock which has been allocated to
Participants is directed to be voted. The reporting person, through the Plan
Trustees has shared dispositive power over all unallocated Common Stock held
by the reporting person. The reporting person, acting through the Plan
Trustees shares dispositive power over allocated Common Stock with
participating employees and their beneficiaries, who have the right to
determine whether Common Stock allocated to their respective accounts will
be tendered in response to a tender offer but otherwise have no dispositive
power. Any unallocated Common Stock is generally required to be tendered by
the Plan Trustees in the same proportion as Common Stock which has been
allocated to Participants is directed to be tendered. In limited
circumstances, ERISA may confer upon the Plan Trustees the power and duty to
control the voting and tendering of Common Stock allocated to the accounts
of participating employees and beneficiaries who fail to exercise their
voting and/or tender rights. The reporting person disclaims voting power
with respect to such allocated Common Stock.
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 o.
Item 6
Ownership of More than Five Percent on Behalf of Another Person:
Dividends declared on Common Stock held by the Plan which have been
allocated to the account of a Participant are allocated to the account of
such Participant. Such dividends may be held and invested in the same manner
as funds generally held or invested by the Plan which are not invested in
Common Stock or distributed to Participants in accordance with and at such
time as provided in the Plan Document. Participants may receive, or direct
the receipt of, proceeds of the sale of Common Stock held by the Plan and
allocated to their accounts to the extent they have become vested in such
Common Stock and at such times as provided in the Plan Document. No
Participant has the right to receive or the power to direct the receipt of
dividends on, or the proceeds of the sale of, more than 5% of the Common
Stock issued and outstanding as of the date hereof.
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:
The reporting person is an employee benefit plan subject to the
provisions of the Employee Retirement Income Security Act of 1974, as
amended.
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 and are held 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.
Date: February 9, 2001
FALMOUTH CO-OPERATIVE BANK EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST
By: /s/ Gardner L. Lewis
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Gardner L. Lewis - Trustee
By: /s/ William E. Newton
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William E. Newton - Trustee
By: /s/ John J. Lynch, Jr.
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John J. Lynch, Jr. - Trustee