5 1 sff5203.txt ----------- ------------------------------ |FORM 5 | OMB APPROVAL ----------- ------------------------------ ___ Check this box if no longer subject to OMB Number 3235-0362 Section 16. Form 4 or Form 5 obligations Expires: January 31, 2005 may continue. See Instruction 1(b) Estimated average burden hours per response ....... 1.0 ------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP [_] Form 3 Holdings Reported [_] Form 4 Transactions Reported 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(f) of the Investment Company Act of 1940 ____________________________________________________________________________ 1. Name and Address of Reporting Person* Frank Stephen Z. ______________________________________________________________________________ (Last) (First) (Middle) 225 Franklin Street, 20th Floor ______________________________________________________________________________ (Street) Boston MA 02110 ____________________________________________________________________________ (City) (State) (Zip) ____________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Detwiler, Mitchell & Co. (Nasdaq: DMCO) ____________________________________________________________________________ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ____________________________________________________________________________ 4. Statement for Month/Year 12/2002 ____________________________________________________________________________ 5. If Amendment, Date of Original (Month/Day/Year) ============================================================================ 6. Relationship of Reporting Person to Issuer (Check all applicable) [ ] Director [_] 10% Owner [X] Officer (give title below) [_] Other (specify below) Chief Legal Officer and Secretary ____________________________________________________________________________ 7. Individual or Joint/Group Filing (Check applicable line) [X] Form filed by 1 Reporting Person [_] Form filed by more than 1 Reporting Person ____________________________________________________________________________ ============================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ============================================================================

5. 6. 4. ~~Amount~~5. of Owner- Securities Acquired (A) or ~~Securities~~Amount of ship 3. Disposed of (D) ~~Beneficially~~Securities Form: 7. Transaction (Instr. 3, 4 and 5) ~~Owned~~Beneficially ~~at End~~ Direct Nature of 1. 2. 32a. Code -------------------------- ofOwned ~~Issuer's~~at End (D) or Indirect 1.Title ~~Transaction~~of Transaction Deemed execution (Instr. 8) (A) Price ~~Fiscal~~of ~~Year~~Month Indirect Beneficial ~~Title of~~ Security Date ~~Code~~date (if any) ---------- Amount or (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) (~~Instr. 8~~mm/dd/yy) Code V (D) and 4) (Instr. 4) (Instr. 4) ----------------------------------------------------------------------------------------------------------- ----------- ------------------------------------------------------------------------------------------------ ---------------------- Common Stock 12/31 n/a J V 2,241(1) A Various 16,263(2) I 401K Plan 2002 ------------------------------------------------------------------------------------- --------------------------------- -------------------------------------------------------------------------- -------------------------------------------- --------------------------------------------------------------- -------------------------------------------------------~~----------------------------------------------------~~ ----------------------------------------------------------------------------------------------------------- -----------~~------------------------------------------------------------------------------------------------~~ ======================================================================================================================

Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) =============================================================================

10. 9. Owner- Number ship 2. of Form 2.Con- Deriv- of ~~Conver~~11. ver- 5. 7. ative Deriv- ~~11.~~Na- sion Number of Title and Amount Secur- ative ~~Nature~~ture or Derivative 6. of Underlying 8. ities Secur- of Exer- 3A. 4. Securities Date Securities Price Bene- ity: In- cise 3. Deemed Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- 4.Exec- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action ~~Trans-~~ution Code of (D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date ~~action~~Date, (Instr.(Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ ~~Code~~if any 8) 4 and 5) Date Expira- Number ity ~~Year~~Month (I) ship Security Secur- Day/ (~~Instr.~~Month/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (~~Instr~~Ins. (Instr. 3) ity Year) 8Day/Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Incentive $01.~~7188~~00 1211/0506/ A 3,375 11/06/ 11/06/ Common 3,375 $1.00 3,375 D Stock 2002 2002 2007 Stock Option (right to buy)(3) --------------------------------------------------------------------------------------------------------------------- Non-Qual- $1.01 11/12/ A ~~200~~50,000 11/12/~~05/~~ 11/12/~~05/~~ Common ~~200~~50,000 $01.~~7188~~01 ~~200~~50,000 D ~~Stock~~ified 2001* ~~2010~~2002 2005 Stock Stock Option (right to buy)(3) --------------------------------------------------------------------------------------------------------------------- Incentive $4.00 6/22/ 12,500 12/13/ 6/22/ Common 12,500 $4.00 12,500 D Stock 2000 2000 2010 Stock Option (right to buy)(3) --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- =====================================================================================================================

Explanation of Responses: (1) Reported transaction includes 2,241 shares contributed to Reporting Persons 401K Plan in by employer in matching contributions. Stock purchased by employer on open market at various times throughout the year in dollar amounts equal to 50% of total contributions made by Reporting Person per year not to exceed 6% of such contributions. (2) Total includes 3,763 shares held in 401(k) Plan of issuer as of December 31, 2002 representing matching contributions to Reporting Person's account since inception. (3) Previously reported. /s/ Stephen Z. Frank 2/14/2003 --------------------------------------------- -------------------- **Signature of Reporting Person Date Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * 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). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

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