UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)
ATHENS BANCSHARES CORPORATION
Common Stock, par value $0.01 per share
(Title of Class of Securities)
047042106
Mr. John Wm. Palmer
PL Capital, LLC
47 E Chicago Avenue
Suite 336
Naperville, IL 60540
(630) 848-1340
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 27, 2013
(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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), (f) or (g), check the following box £.
Explanatory Note
With this amendment, the PL Capital Group (as defined below) is amending the disclosures to report that it no longer holds more than 5% of the Common Stock (as defined below) of Athens Bancshares Corporation. So, upon the filing of this amendment, the PL Capital Group, and each person that comprises the PL Capital Group, will cease to be a reporting person with regard to the Common Stock.
| Item 1. | Security and Issuer |
The initial Schedule 13D, dated August 8, 2011, was filed with the Securities and Exchange Commission on August 15, 2011 (the “Initial Schedule 13D”) and related to the common stock, par value $0.01 per share (“Common Stock”), of Athens Bancshares Corporation (the “Company”). The address of the principal executive offices of the Company is 106 Washington Avenue, Athens, TN 37303.
This Amendment No. 1 to the Initial Schedule 13D (this “Amended Schedule 13D”) is being filed to reflect the fact that the PL Capital Group no longer holds more than 5% of the Common Stock of the Company.
| Item 2. | Identity and Background |
This Amended Schedule 13D is being filed jointly by the parties identified below. All of the filers of this Amended Schedule 13D are collectively the “PL Capital Group.” The joint filing agreement of the members of the PL Capital Group was attached to the Initial Schedule 13D.
● | Financial Edge Fund, L.P., a Delaware limited partnership (“Financial Edge Fund”); |
| Financial Edge-Strategic Fund, L.P., a Delaware limited partnership (“Financial Edge Strategic”); |
● | PL Capital Focused Fund, L.P., a Delaware limited partnership (“Focused Fund”); |
● | PL Capital, LLC, a Delaware limited liability company (“PL Capital”) and General Partner of Financial Edge Fund, Financial Edge Strategic and Focused Fund; |
● | PL Capital Advisors, LLC, a Delaware limited liability company (“PL Capital Advisors”), and the investment advisor to Financial Edge Fund, Financial Edge Strategic, Focused Fund and Goodbody/PL Capital, L.P.; |
● | Goodbody/PL Capital, L.P., a Delaware limited partnership (“Goodbody/PL LP”); |
CUSIP No. 047042106 | Page 15 of 24 Pages |
● | Goodbody/PL Capital, LLC (“Goodbody/PL LLC”), a Delaware limited liability company and General Partner of Goodbody/PL LP; |
● | John W. Palmer, as (1) a Managing Member of PL Capital, PL Capital Advisors and Goodbody/PL LLC; (2) an individual (through his IRA); and (3) Custodian for Jack Palmer Under the Illinois Uniform Transfer to Minors Act (“Jack Palmer UTMA”). |
● | Jack Palmer UTMA, an Illinois custodial account, of which Mr. Palmer’s minor child, Jack Palmer, is the beneficiary; |
● | Richard Lashley, as (1) a Managing Member of PL Capital, PL Capital Advisors and Goodbody/PL LLC; (2) an individual; and (3) holder of certain discretionary authority over an account held by Dr. Robin Lashley, his sister; |
● | Beth Lashley, as an individual; and |
● | Dr. Robin Lashley, as an individual. |
(a)-(c) This statement is filed by Mr. John W. Palmer and Mr. Richard J. Lashley, with respect to the shares of Common Stock beneficially owned by them, as follows:
| | (1) | shares of Common Stock held in the name of Financial Edge Fund, Financial Edge Strategic and Focused Fund, in Mr. Palmer’s and Mr. Lashley’s capacity as Managing Members of (A) PL Capital, the General Partner of Financial Edge Fund, Financial Edge Strategic and Focused Fund, and (B) PL Capital Advisors, the investment advisor for Financial Edge Fund, Financial Edge Strategic and Focused Fund; |
| | (2) | shares of Common Stock held in the name of Goodbody/PL LP, in Mr. Palmer’s and Mr. Lashley’s capacity as Managing Members of (A) Goodbody/PL LLC, the General Partner of Goodbody/PL LP and (B) PL Capital Advisors, the investment advisor for Goodbody/PL LP; |
| | (3) | shares of Common Stock held by Mr. Palmer as (A) an individual (through his IRA); and (B) as Custodian for the Jack Palmer UTMA; |
| | (4) | shares of Common Stock held by Mr. Lashley as: (A) an individual jointly with his spouse Beth Lashley; (B) a holder of certain discretionary authority over an account held by his sister Dr. Robin Lashley; and |
| | (5) | shares of Common Stock held by Beth Lashley as an individual jointly with her spouse Richard Lashley. |
CUSIP No. 047042106 | Page 16 of 24 Pages |
The business address of Financial Edge Fund, Financial Edge Strategic, Focused Fund, PL Capital, PL Capital Advisors, Goodbody/PL LP, Goodbody/PL LLC, Dr. Robin Lashley, John Palmer, Jack Palmer UTMA, Beth Lashley and Richard Lashley is c/o PL Capital, 47 E Chicago Avenue, Suite 336, Naperville, Illinois 60540. Each of Financial Edge Fund, Financial Edge Strategic, PL Capital, Goodbody/PL LP, PL Capital Advisors and Goodbody/PL LLC are engaged in various interests, including investments.
The principal employment of Messrs. Palmer and Lashley is investment management with each of PL Capital, PL Capital Advisors and Goodbody/PL LLC.
The principal employment of Dr. Robin Lashley is college professor at Kent State University, Tuscarawas Campus, 330 University Drive NE, New Philadelphia, Ohio 44663.
Beth Lashley is a certified public accountant (inactive) who is not currently employed.
(d) During the past five years, no member of the PL Capital Group has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the past five years, no member of the PL Capital Group has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
(f) Each natural person who is a member of the PL Capital Group is a citizen of the United States.
| Item 3. | Source and Amount of Funds or Other Consideration |
In aggregate, the PL Capital Group owns 10,500 shares of Common Stock of the Company acquired at an aggregate cost of $105,000.
The amount of funds expended by John Palmer to acquire the 10,500 shares of Common Stock he holds in his IRA is $105,000. Such funds were provided from his available personal funds.
| Item 4. | Purpose of Transaction |
The PL Capital Group owns 10,500 shares or 0.5% of the Company, based upon the Company’s aggregate outstanding 2,083,791 shares as reported in a Form 10-Q filed on November 8, 2013.
The PL Capital Group reduced their percentage ownership in the Company below 5% ownership and will no longer file Schedule 13Ds with respect to the Company.
Members of the PL Capital Group may make further purchases of shares of Common Stock, although the PL Capital Group has no present intention of doing so. Mr. Palmer may dispose of any or all the shares of Common Stock held by his IRA.
CUSIP No. 047042106 | Page 17 of 24 Pages |
| Item 5. | Interest in Securities of the Company |
The percentages used in this Amended Schedule 13D are calculated based upon the number of outstanding shares of Common Stock as of November 4, 2013, as reported in the Company’s Form 10-Q filed on November 8, 2013. In this Form 10-Q, the Company reported 2,083,791 outstanding shares of Common Stock.
The PL Capital Group made transactions in the Common Stock within the past 60 days as noted below:
(a)-(b) See cover page.
| | (c) | Financial Edge Fund made the following sale (on the open market), and no purchases, of Common Stock in the past 60 days: |
| Date | Number of Shares (Sold) | Price Per Share | Total Proceeds |
| 11/27/2013 | (69,378) | $20.00 | $1,380,622 |
| | (d) | Because Messrs. Palmer and Lashley are the Managing Members of PL Capital, the General Partner of Financial Edge Fund, they have the power to direct the affairs of Financial Edge Fund, including the voting and disposition of shares of Common Stock held in the name of Financial Edge Fund. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Financial Edge Fund. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and dispositive power over the shares of Common Stock that Financial Edge Fund holds. |
| (B) | Financial Edge Strategic |
(a)-(b) See cover page.
| | (c) | Financial Edge Strategic made the following sale (on the open market), and no purchases, of Common Stock in the past 60 days: |
| Date | Number of Shares (Sold) | Price Per Share | Total Proceeds |
| 11/27/2013 | (21,185) | $20.00 | $421,581 |
| | (d) | Because Messrs. Palmer and Lashley are the Managing Members of PL Capital, the General Partner of Financial Edge Strategic, they have the power to direct the affairs of Financial Edge Strategic, including the voting and disposition of shares of Common Stock held in the name of Financial Edge Strategic. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Financial Edge Strategic. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and dispositive power over the shares of Common Stock that Financial Edge Strategic holds. |
CUSIP No. 047042106 | Page 18 of 24 Pages |
(C) Goodbody/PL LP
(a)-(b) See cover page.
| | (c) | Goodbody/PL LP made the following sale (on the open market), and no purchases, of Common Stock in the past 60 days: |
| Date | Number of Shares (Sold) | Price Per Share | Total Proceeds |
| 11/27/2013 | (7,114) | $20.00 | $141,568 |
| | (d) | Goodbody/PL LLC is the General Partner of Goodbody/PL LP. Because Messrs. Palmer and Lashley are the Managing Members of Goodbody/PL LLC, they have the power to direct the affairs of Goodbody/PL LP. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Goodbody/PL LP. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and dispositive power over the shares of Common Stock held by Goodbody/PL LP. |
(D) Focused Fund
(a)-(b) See cover page.
| | (c) | Focused Fund made the following sale (on the open market), and no purchases, of Common Stock, in the past 60 days: |
| Date | Number of Shares (Sold) | Price Per Share | Total Proceeds |
| 11/27/2013 | (20,050) | $20.00 | $398,995 |
| | (d) | Because Messrs. Palmer and Lashley are the Managing Members of PL Capital, the General Partner of Focused Fund, they have the power to direct the affairs of Focused Fund, including the voting and disposition of shares of Common Stock held in the name of Focused Fund. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Focused Fund. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and dispositive power over the shares of Common Stock that Focused Fund holds. |
CUSIP No. 047042106 | Page 19 of 24 Pages |
(E) PL Capital
(a)-(b) See cover page.
| | (c) | PL Capital has made no purchases or sales of Common Stock directly. |
| | (d) | PL Capital is the General Partner of Financial Edge Fund and Financial Edge Strategic. Because Messrs. Palmer and Lashley are the Managing Members of PL Capital, they have the power to direct the affairs of PL Capital. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and dispositive power with PL Capital over the shares of Common Stock held by Financial Edge Fund and Financial Edge Strategic. |
(F) PL Capital Advisors
(a)-(b) See cover page.
| | (c) | PL Capital Advisors has made no purchases or sales of Common Stock directly. |
| | (d) | PL Capital Advisors is the investment advisor to Financial Edge Fund, Financial Edge Strategic, Focused Fund and Goodbody/PL LP. Because they are the Managing Members of PL Capital Advisors, Mr. Palmer and Mr. Lashley have the power to direct the affairs of PL Capital Advisors. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and dispositive power with PL Capital Advisors over the shares of Common Stock held by Financial Edge Fund, Financial Edge Strategic, Focused Fund and Goodbody/PL LP. |
(G) Goodbody/PL LLC
(a)-(b) See cover page.
| | (c) | Goodbody/PL LLC has made no purchases or sales of Common Stock directly. |
| | (d) | Goodbody/PL LLC is the General Partner of Goodbody/PL LP. Because Messrs. Palmer and Lashley are the Managing Members of Goodbody/PL LLC, they have the power to direct the affairs of Goodbody/PL LLC. Mr. Palmer and Mr. Lashley are also the Managing Members of PL Capital Advisors, the investment advisor of Goodbody/PL LP. Therefore, Mr. Palmer and Mr. Lashley are deemed to share voting and dispositive power over the shares of Common Stock held by Goodbody/PL LP. |
CUSIP No. 047042106 | Page 20 of 24 Pages |
(H) John W. Palmer
(a)-(b) See cover page.
| | (c) | John W. Palmer made the following sale (on the open market), and no purchases, of Common Stock, in the past 60 days: |
| Date | Number of Shares (Sold) | Price Per Share | Total Proceeds |
| 11/27/2013 | (12,450) | $20.00 | $247,755 |
(I) Richard J. Lashley
(a)-(b) See cover page.
| | (c) | Mr. Lashley made no purchases or sales of Common Stock in the past 60 days. |
(J) Dr. Robin Lashley
(a)-(b) See cover page.
| | (c) | Dr. Lashley made no purchases or sales of Common Stock in the past 60 days. |
(K) Jack Palmer UTMA
(a)-(b) See cover page.
| | (c) | The Jack Palmer UTMA made the following sale (on the open market), and no purchases, of Common Stock, in the past 60 days: |
| Date | Number of Shares (Sold) | Price Per Share | Total Proceeds |
| 11/27/2013 | (12,050) | $20.00 | $239,795 |
(L) Beth Lashley
(a)-(b) See cover page.
| | (c) | Beth Lashley made no purchases or sales of Common Stock in the past 60 days. |
CUSIP No. 047042106 | Page 21 of 24 Pages |
| Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Company. |
With respect to Financial Edge Fund, Financial Edge Strategic and Focused Fund, PL Capital is entitled to an allocation of a portion of profits, if any. With respect to Financial Edge Fund, Financial Edge Strategic, Focused Fund and Goodbody/PL LP, PL Capital Advisors is entitled to a management fee based upon a percentage of total capital. With respect to Goodbody/PL LP, Goodbody/PL LLC is entitled to an allocation of a portion of profits, if any.
Other than the foregoing arrangements and the Joint Filing Agreement filed as Exhibit 1 to the Initial Schedule 13D, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 hereof and between such persons and any person with respect to any securities of the Company.
| Item 7. | Material to be Filed as Exhibits. |
| Exhibit No. | Description |
| | |
1 | Joint Filing Agreement.* |
______________________
*Previously filed.
