SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(b)
(Amendment No. _______)1
PENNWOOD BANCORP, INC.
_____________________________________________________________________________
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
_____________________________________________________________________________
(Title of Class of Securities)
708904 10 7
_____________________________________________________________________________
(CUSIP Number)
June 30, 1999
_____________________________________________________________________________
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
Rule 13d-1(b)
X Rule 13d-1(c)
Rule 13d-1(d)
_______________________________
1
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 the disclosures provided
in a prior cover page.
The information required in 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 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).
Page 1 of 5 Pages
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Paul S. Pieffer
_____________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
_____________________________________________________________________________
3. SEC USE ONLY
_____________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 31,389
BENEFICIALLY _____________________________________________________
OWNED BY EACH
REPORTING 6. SHARED VOTING POWER
PERSON WITH 4,814
_____________________________________________________
7. SOLE DISPOSITIVE POWER
31,389
_____________________________________________________
8. SHARED DISPOSITIVE POWER
4,814
_____________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
36,203
_____________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
X
_____________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.5%
_____________________________________________________________________________
12. TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
Page 2 of 5 Pages
Item 1(a) Name of Issuer:
Pennwood Bancorp, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
683 Lincoln Avenue
Pittsburgh, Pennsylvania 15202.
Item 2(a) Name of Person Filing:
Paul S. Pieffer. Mr. Pieffer is the President and Chief
Executive Officer of the Issuer.
Item 2(b) Address of Principal Business Office or, if None, Residence:
Pennwood Bancorp, Inc.
683 Lincoln Avenue
Pittsburgh, Pennsylvania 15202.
Item 2(c) Citizenship:
United States.
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01 per share.
Item 2(e) CUSIP Number:
708904 10 7
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or
13d-2(b) or (c), Check Whether the Person Filing is:
This statement is filed pursuant to Rule 13d-1(c). X
Page 3 of 5 Pages
Item 4. Ownership.
(a) Paul S. Pieffer (the "Reporting Person") beneficially
owns 36,203 shares of the common stock par value $.01 per
share, of Pennwood Bancorp, Inc. (the "Issuer").
(b) The 36,203 shares held by the Reporting Person represents
approximately 6.5% of the class.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 31,389
(ii) Shared power to vote or to direct the vote 4,814
(iii) Sole power to dispose or to direct the disposition
of 31,389
(iv) Shared power to dispose or to direct the disposition
of 4,814
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Page 4 of 5 Pages
Item 10. Certification.
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above 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.
SIGNATURE
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.
October 15, 1999 By: /s/ Paul S. Pieffer
______________________
Paul S. Pieffer
Page 5 of 5 Pages
