U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
American River Holdings
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
029326105
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(CUSIP Number)
December 31, 2002
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(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 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 ("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. 029326105
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1) Names of Reporting Persons
I.R.S. Identification Nos. Of Above Persons (Entities Only)
KEEFE MANAGERS, LLC
71-0885390
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2) Check The Appropriate Box If a Member of a Group (See Instructions)
(A) [ ]
(B) [ ]
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3) SEC Use Only
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4) Citizenship or Place of Organization
DELAWARE LIMITED LIABILITY COMPANY
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Number of Shares Beneficially Owned by Each Reporting Person With:
5) Sole Voting Power
131,383
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6) Shared Voting Power
0
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7) Sole Dispositive Power
131,383
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8) Shared Dispositive Power
0
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9) Aggregate Amount Beneficially Owned by Each Reporting Person
131,383
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10) Check If the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
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11) Percent of Class Represented by Amount in Row (9)
5.01%
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12) Type of Reporting Person (See Instructions)
IA, OO
Item 1. (a) Name of Issuer:
AMERICAN RIVER HOLDINGS
(b) Address of Issuer's Principal Executive Offices:
1545 River Park Drive
Sacramento, CA 95815
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Item 2. (a) - (c) NAME OF PERSON FILING; ADDRESS OF PRINCIPAL BUSINESS OFFICE
OR, IF NONE, RESIDENCE; CITIZENSHIP:
This Schedule 13G is being filed by Keefe Managers, LLC, a Delaware
limited liability company("KM, LLC"). The business address of KM, LLC is 375
Park Avenue (23rd Floor), New York, New York 10152.
(d) Title of Class of Securities
Common Stock
(e) CUSIP Number:
029326105
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Item 3. If this statement is being filed pursuant to Rule 13d-1(b) or (c), or
13d-2(b), check whether the person filing is:
(a) [ ] Broker or dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(d) [ ] Investment company registered under section 8 of the Investment
Company Act of 1940
(e) [x] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E)
(f) [ ] An employee benefit plan or endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F)
(g) [ ] A parent holding company or control person in accordance with Rule
13d-1(b)(ii)(G)
(h) [ ] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940
(j ) [ ] Group, in accordance with 13d-1(b)(1)(ii)(J)
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Item 4. Ownership:
(a) Amount Beneficially Owned: KM, LLC - 131,383
(b) Percent of Class: KM, LLC - 5.01%
(c) Number of Shares as to which such person has:
(i) Sole power to vote or direct the vote: KM, LLC - 131,383
(ii) Shared power to vote or direct the vote: KM, LLC - 0
(iii) Sole power to dispose or direct the disposition of: KM, LLC - 131,383
(iv) Shared power to dispose or direct the disposition of: KM, LLC - 0
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The ownership percentages in this Schedule 13G are based upon the 2,621,834
shares of common stock that the Issuer reported as outstanding as of November 1,
2002 per its September 30, 2002 Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission on November 4, 2002.
Item 5. Ownership of Five Percent or Less of a Class:
o 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 [ ]
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Item 6. Ownership of More than Five Percent on Behalf of Another Person:
KM, LLC has acquired all of the shares of common stock reported in this Schedule
13G as beneficially owned by it on behalf of its discretionary clients. Such
clients have the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of such securities, subject to KM,
LLC's general authority to invest and reinvest the assets in each account under
its management.
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Item 7. Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on By the Parent Holding Company
Not applicable
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Item 8. Identification and Classification of Members of the Group
Not applicable
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Item 9. Notice of Dissolution of Group
Not applicable
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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.
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.
KEEFE MANAGERS, LLC
By: /s/ William M. Kearns
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Name: William M. Kearns
Title: Co-CEO, Chairman
Date: February 20, 2003