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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
| 1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| RANZINI JOSEPH LANGE 675 CHERRY AVENUE WAYNESBORO, VA 22980 |
X | X | ||
| Joseph L. Ranzini | 04/14/2005 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Drs. Caulkins, McKibbin & Ranzini , Inc. Profit Sharing Plan FBO: Joseph L. Ranzini placed an order to acquire 18,422 shares of common stock of the Issuer at a limit of $1.90 good till cancelled. The money manager for the pension fund (an unrelated third party not affiliated with the Issuer) manually entered the order incorrectly and purchased 12,800 shares at $2.16. The money manager is correcting the trading error, so that the ultimate purchase will be for 18,422 shares at $1.90 per share effective 2/22/2005. The transaction reported with this form is a purchase of 200 of the remaining 5,622 shares, leaving 4,722 shares to purchase under the good till cancelled order |
| (2) | Reporting Person is co-trustee of the Trust and primary beneficiary with respect to 1/5 of the assets held by the Trust. Reporting Person disclaims beneficial ownership of the shares held by trusts for which he is a primary beneficiary and this report shall not be deemed an admission that Reporting Person is the beneficial owner thereof for purposes of Section 16, or for any other reason. |
| (3) | Reporting Person is co-trustee of the Trust and primary beneficiary with respect to 1/5 of the assets held by the Trust. Reporting Person holds a 6.652% limited partnership interest in Orpheus Capital, LP, and is UTMA custodian for his two minor children for an additional 5.246%, and is co-trustee of the General Partner of the Trust (of which he is primary beneficiary with respect to 1/5 of the assets held by the Trust) that is the General Partner of Orpheus Capital, LP. This report shall not be deemed an admission that Reporting Person is the beneficial owner of the shares held by either the Trust or Orpheus Capital, LP for purposes of Section 16, or for any other reason. |