SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
__________
SCHEDULE
13D
[Rule
13d-101]
INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO
§ 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§
240.13d-2(a)
(Amendment
No. __)*
Pamrapo
Bancorp, Inc.
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(Name
of Issuer)
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Common
Stock, $0.01 par value per share
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(Title
of Class of Securities)
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697738102
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(CUSIP
Number)
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Michael
M. Horn, Esq.
McCarter
& English LLP
Four
Gateway Center
100
Mulberry Street
Newark,
New Jersey 07102
(973)
639-2029
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(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
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January
12, 2010
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(Date
of Event Which Requires Filing of this
Statement)
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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), 13d-1(f) or 13d-1(g), check the following
box.
x
Note:
Schedules filed in
paper format shall include a signed original and five copies of the schedule,
including all exhibits. See · 240.13d-7 for other parties to whom copies are to
be sent.
*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 disclosures provided in a prior cover page.
The
information required on 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
(the "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.:
697738102
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1.
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NAME
OF REPORTING PERSON: William J. Campbell
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2.
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)
x
(b)
o
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3.
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SEC
USE ONLY
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4.
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SOURCE
OF FUNDS: PF
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5.
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CHECK
IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or
2(e):
Yes
o
No
x
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6.
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CITIZENSHIP
OR PLACE OF ORGANIZATION: United States
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7.
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SOLE
VOTING POWER: 436,044
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8.
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SHARED
VOTING POWER: 164,569 (see footnote 1)
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9.
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SOLE
DISPOSITIVE POWER: 436,044
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10.
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SHARED
DISPOSITIVE POWER: 164,569 (see footnote 1)
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11.
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 600,613 (see footnote
1)
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12.
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: Yes
o
No
x
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13.
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 12.2% (see footnote
2)
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14.
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TYPE
OF REPORTING PERSON: IN
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(1) For
purposes of Section 13(d), William J. Campbell may be deemed to beneficially own
an aggregate of 600,613 shares of common stock of Pamrapo Bancorp, Inc.,
consisting of (a) 293,317 shares held by Mr. Campbell directly, (b) 15,301
shares held in a 401(k) plan account, (c) 25 shares held in an ESOP account, (d)
127,401 shares held in an IRA account, and (e) 164,569 shares held by The
William J. Campbell Grantor Retained Annuity Trust of which Donald D. Campbell
and Eugene Campbell are the co-trustees.
(2) Based
upon an aggregate of 4,935,542 shares outstanding at January 11,
2010.
CUS
IP NO.:
697738102
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1.
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NAME
OF REPORTING PERSON: William J. Campbell Grantor Retained Annuity Trust,
EIN #20-6797934
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2.
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)
x
(b)
o
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3.
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SEC
USE ONLY
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4.
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SOURCE
OF FUNDS: AF
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5.
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CHECK
IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or
2(e):
Yes
o
No
x
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6.
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CITIZENSHIP
OR PLACE OF ORGANIZATION: Florida
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7.
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SOLE
VOTING POWER: 0 shares
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8.
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SHARED
VOTING POWER: 164,569 (see footnote 1)
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9.
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SOLE
DISPOSITIVE POWER: 0 shares
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10.
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SHARED
DISPOSITIVE POWER: 164,569 (see footnote 1)
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11.
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 164,569
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12.
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: Yes
o
No
x
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13.
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 3.33% (see footnote
2)
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14.
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TYPE
OF REPORTING PERSON: OO
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(1) For
purposes of Section 13(d), William J. Campbell may be deemed to beneficially own
the 164,569 shares of common stock of Pamrapo Bancorp, Inc. held by the William
J. Campbell Grantor Retained Annuity Trust. Donald D. Campbell and
Eugene Campbell are the co-trustees of the William J. Campbell Grantor Retained
Annuity Trust.
(2) Based
upon an aggregate of 4,935,542 shares outstanding at January 11,
2010.
ITEM
1.
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SECURITY
AND ISSUER.
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The securities to which this statement
relates are shares of common stock, par value $0.01 per share (the “Common
Stock”), of Pamrapo Bancorp, Inc., a New Jersey corporation (the
“Issuer”). The principal executive offices of the Issuer are located
at 611 Avenue C, Bayonne, New Jersey 07002.
ITEM
2.
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IDENTITY
AND BACKGROUND.
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This statement is filed by William J.
Campbell, the former President and Chief Executive Officer of the
Issuer. Mr. Campbell, who is now retired, resides at 801 Avenue C,
Bayonne, New Jersey 07002. Mr. Campbell is a United States
citizen.
This statement is also filed by The
William J. Campbell Grantor Retained Annuity Trust (EIN No. 20-6797934) (the
“Trust” and, together with William J. Campbell, the “Reporting
Persons”). The business address of the Trust is c/o William J.
Campbell, 801 Avenue C, Bayonne, New Jersey 07002. The
Trust was established under the laws of the State of Florida by William J.
Campbell pursuant to a Trust Agreement dated January 30, 2006 (the “Trust
Agreement”). Mr. Campbell first contributed shares of Common Stock of
the Issuer to the Trust on or about January 30, 2006. Donald D.
Campbell and Eugene Campbell, who are brothers of William J. Campbell, are the
co-trustees (the “Trustees”) of the Trust. The sole property of the
Trust is 164,569 shares of Common Stock (the “Trust Shares”). In
accordance with the terms of the Trust Agreement, during his lifetime, William
J. Campbell retains the right to request that the Trustees (a) either vote or
abstain from voting the Trust Shares as William J. Campbell requests and (b)
deliver the Trust Shares to William J. Campbell provided that William J.
Campbell delivers to the Trustees in substitution for the Trust Shares money or
other property having an equivalent value to the Trust
Shares. William J. Campbell is entitled to receive annual annuity
payments from the Trust on January 30
th
of each
year during the term of the Trust. Since the present value of the
Trust is insufficient to cover in full the annuity payment due on January 30,
2010, the Trust will terminate as of January 30, 2010 and the Trust Shares will
be transferred from the Trust to William J. Campbell.
Donald D. Campbell is an attorney in
private practice with the law firm, Campbell & Campbell. Donald
D. Campbell’s business address and the business address of his law firm,
Campbell & Campbell, is 599 Avenue C, Bayonne, New
Jersey 07002. Donald D. Campbell is a United States
citizen.
Eugene Campbell’s principal occupation
is as President of Eugene P. Campbell & Associates. The principal
business of Eugene P. Campbell & Associates is general management
consulting. Eugene Campbell’s business address and the business
address of his employer, Eugene P. Campbell & Associates, is Eugene P.
Campbell & Associates, 1720 Route 34, P.O. Box 1170, Wall, New
Jersey 07719. Eugene Campbell is a United States
citizen.
None of the Reporting Persons has,
during the last five years, been (i) convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of which it or he was or is subject to a judgment, decree or
final order enjoining future violation of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any
violations with respect to such laws.
ITEM
3.
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SOURCE
AND AMOUNT OF FUNDS OR OTHER
CONSIDERATION.
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Mr. Campbell has utilized personal
funds to acquire those shares of Common Stock identified under Paragraph (a) of
Item 5 hereunder through purchases made by him in the Issuer’s 401(k) and ESOP
plan, Mr. Campbell’s IRA and open market or private transactions.
ITEM
4.
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PURPOSE
OF TRANSACTION.
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(a) Mr. Campbell holds all
shares of Common Stock reported herein as beneficially owned by him in order to
seek appreciation thereof. Mr. Campbell intends to continue to review
his holdings of Common Stock and may subsequently from time to time acquire
additional shares of Common Stock. On the other hand, Mr. Campbell
may determine from time to time to dispose of shares of Common Stock which he
now owns or may hereafter acquire. Mr. Campbell may also determine to
transfer additional shares of Common Stock to a trust or make charitable and
other gifts of shares of Common Stock. In reaching any conclusions as
to the foregoing, Mr. Campbell will take into account various factors, including
the Issuer’s business and prospects, general economic conditions, money and
stock market conditions and personal liquidity requirements.
(b) On February 11, 2010, a
special meeting of shareholders (the “Special Meeting”) of the Issuer will be
held for the purpose of seeking the approval by the shareholders of an Agreement
and Plan of Merger dated as of June 29, 2009 (the “Merger Agreement”) between
the Issuer and BCB Bancorp, Inc. The merger (the “Merger”)
contemplated by the Merger Agreement will, if completed, merge the
Issuer out of existence. Mr. Campbell is opposed to the Merger and,
on January 12, 2010, Mr. Campbell filed a preliminary proxy statement and other
proxy materials with the SEC with respect to the Special Meeting. In
his proxy materials, Mr. Campbell indicates the reasons why he believes the
Merger is not in the best interests of the Issuer’s shareholders and urges the
shareholders to vote against the adoption of the Merger
Agreement. Mr. Campbell does not propose to the Issuer’s shareholders
that they adopt any specific transaction as an alternative to the Merger nor
does he propose to the shareholders that they approve any changes in the present
board of directors or management of the Issuer.
Except as stated in response to this
Item 4, Mr. Campbell does not have any plans or proposals which relate to or
would result in any other action specified in clauses (a) through (j) of Item 4
of Schedule 13D.
ITEM
5.
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INTEREST
IN SECURITIES OF THE ISSUER.
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(a) As of January 20, 2010,
William J. Campbell beneficially owned, for purposes of Rule 13d-3 under the
Exchange Act , 600,613 shares of Common Stock, consisting of (i) an aggregate of
293,317 shares of Common Stock held by Mr. Campbell directly, (ii) an aggregate
of 15,301 shares of Common Stock held in Mr. Campbell’s account under the
Issuer’s 401(k) Plan, (iii) an aggregate of 25 shares of Common stock
held in Mr. Campbell’s account under the Issuer’s Employee Stock Ownership Plan,
(iv) an aggregate of 127,401 shares of Common Stock held in Mr. Campbell’s
Individual Retirement Account, and (v) an aggregate of 164,569 shares (the
“Trust Shares”) held by The William J. Campbell Grantor Retained Annuity Trust
(the “Trust”), of which Donald D. Campbell and Eugene Campbell, who are brothers
of William J. Campbell, are the co-trustees (the “Trustees”). To the
best of the knowledge of Mr. Campbell, the aggregate shares of Common Stock
beneficially owned by him as of January 20, 2010 constitute 12.2% of the issued
and outstanding shares of Common Stock. To the best of the knowledge
of the Trustees, the aggregate shares of Common Stock held by the Trust as of
January 20, 2010 constitute 3.33% of the issued and outstanding share of Common
Stock.
(b) Mr. Campbell has sole power to vote
or to direct the vote of, and sole power to dispose or to direct the disposition
of, 436,044 shares of Common Stock. Pursuant to the terms and
provisions of the Trust Agreement dated January 30, 2006 establishing the
William J. Campbell Grantor Retained Annuity Trust (the “Trust Agreement”), the
Trustees have the power to vote or to direct the vote of, and the power to
dispose or to direct the disposition of the Trust Shares, subject to the right
of William J. Campbell, during his lifetime, to request that the Trustees (i)
either vote or abstain from voting the Trust Shares as William J. Campbell
requests and (ii) deliver the Trust Shares to William J. Campbell provided that
William J. Campbell delivers to the Trustees in substitution for the Trust
Shares money or other property having an equivalent value to the Trust
Shares. William J. Campbell is entitled to receive annual annuity
payments from the Trust on January 30
th
of each
year during the term of the Trust. Since the present value of the
Trust is insufficient to cover in full the annuity payment due on January 30,
2010, the Trust will terminate as of January 30, 2010 and the Trust Shares will
be transferred from the Trust to William J. Campbell.
(c) During the 60 days prior
to the filing of this Statement on Schedule 13D, neither Mr. Campbell nor the
Trust effected any transactions in the Common Stock.
(d) The Trust has the right
to receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the Trust Shares. No such interest in such
dividends or proceeds relates to more than 5% of the issued and outstanding
Common stock.
(e) Not
applicable.
ITEM
6.
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CONTRACTS,
ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES
OF THE ISSUER.
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Not applicable.
ITEM
7.
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MATERIALS
TO BE FILED AS EXHIBITS.
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Not applicable.
SIGNATURES
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:
January 20, 2010
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/s/
William J. Campbell
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William J. Campbell
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The
William J. Campbell Grantor Retained Annuity Trust
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By:
/s/Donald D. Campbell
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Name:
Donald D. Campbell
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Title: Co-Trustee
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By:
/s/Eugene Campbell
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Name: Eugene
Campbell
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Title: Co-Trustee
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