SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
ALGIERS BANCORP, INC.
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(Name of Issuer)
Common Stock, Par Value $.01 Per Share
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(Title of Class of Securities)
015600 10 9
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(CUSIP Number)
Page 1 of 5 Pages
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CUSIP No. 015600 10 9 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Algiers Bancorp, Inc. Employee Stock Ownership Plan 72-1317594
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Louisiana
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NUMBER OF SHARES 5 SOLE VOTING POWER
BENEFICIALLY OWNED BY EACH
REPORTING PERSON WITH 43,296
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6 SHARED VOTING POWER
8,546
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7 SOLE DISPOSITIVE POWER
43,296
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8 SHARED DISPOSITIVE POWER
8,546
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,842
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.4%
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12 TYPE OF REPORTING PERSON*
EP
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CUSIP No. 015600 10 9 13G Page 3 of 5 Pages
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Item 1(a) Name of Issuer:
Algiers Bancorp, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
# 1 Westbank Expressway
New Orleans, Louisiana 70114
Item 2(a) Name of Person Filing:
Algiers Bancorp, Inc. Employee Stock Ownership Plan.
Item 2(b) Address of Principal Business Office or, if None, Residence:
Algiers Bancorp, Inc.
# 1 Westbank Expressway
New Orleans, Louisiana 70114
Item 2(c) Citizenship:
Louisiana
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01 per share Item 2(e) CUSIP Number:
015600 10 9
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(f) [ x ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974.
Item 4. Ownership.
(a) Amount beneficially owned:
51,842
(b) Percent of class: 8.4%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 43,296
(ii) Shared power to vote or to direct the vote 8,546
(iii) Sole power to dispose or to direct the disposition of
43,296
(iv) Shared power to dispose or to direct the disposition
of 8,546
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CUSIP No. 015600 10 9 13G Page 4 of 5 Pages
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The Algiers Bancorp, Inc. Employee Stock Ownership Plan Trust
("Trust") was established pursuant to the Algiers Bancorp,
Inc. Employee Stock Ownership Plan ("ESOP"). Under the terms
of the ESOP, the Trustees will generally vote the allocated
shares held in the ESOP in accordance with the instructions of
the participating employees and will generally vote
unallocated shares held in the ESOP in the same proportion for
and against proposals to stockholders as the ESOP participants
and beneficiaries actually vote shares of Common Stock
allocated to their individual accounts, subject in each case
to the fiduciary duties of the ESOP Trustess and applicable
law. Any allocated shares which either abstain on the proposal
or are not voted will be disregarded in determining the
percentage of stock voted for and against each proposal by the
participants and beneficiaries. As of December 31, 1997, 8,546
shares have been or were committed to be allocated to
participants' accounts and 43,296 shares were unallocated.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable since the reporting entity owns more than 5% of
the class.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Participants in the ESOP are entitled to receive dividends on,
and the proceeds from, the sale of the shares allocated to
their accounts. The ESOP does not own more than 5% on behalf
of another person.
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 since the reporting entity is not a member of a
group.
Item 9. Notice of Dissolution of Group.
Not applicable since the reporting entity is not a member of a
group.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
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CUSIP No. 015600 10 9 13G Page 5 of 5 Pages
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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.
ALGIERS BANCORP, INC.
EMPLOYEE STOCK OWNERSHIP PLAN TRUST
February 5, 1998 By: /s/Hugh E. Humphrey, III
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Hugh E. Humphrey, III, Trustee
February 5, 1998 By: /s/Thu Dang
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Thu Dang, Trustee
February 5, 1998 By: /s/Dennis J. McCluer
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Dennis J. McCluer, Trustee
