SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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)1
Park Bancorp, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
700164106
(CUSIP Number)
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<F1>
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>
CUSIP No. 700164106 13G Page 2 of 5 Pages
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Park Bancorp, Inc.
Park Federal Savings Bank Employee Stock Ownership Plan
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
186,545
6. SHARED VOTING POWER
29,554
7. SOLE DISPOSITIVE POWER
216,099
8. SHARED DISPOSITIVE POWER
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
216,099
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.28% of 2,328,328 shares of Common Stock outstanding as of
February 13, 1998
12. TYPE OF REPORTING PERSON
EP
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CUSIP No. 700164106 13G Page 3 of 5 Pages
ITEM 1(A). NAME OF ISSUER:
Park Bancorp, Inc.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
5400 S. Pulaski, Chicago, Illinois 60632
ITEM 2(A). NAME OF PERSON FILING:
Park Federal Savings Bank Employee Stock Ownership Plan
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
5400 S. Pulaski, Chicago, Illinois 60632
ITEM 2(C). CITIZENSHIP:
Employee benefit plan of Delaware corporation
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2(E). CUSIP NUMBER:
700164106
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR 13D-2(B),
CHECK WHETHER THE PERSON FILING IS A:
(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,
(e) [ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940,
(f) [X] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see 13d-1(b)(1)(ii)(F),
(g) [ ] Parent Holding Company, in accordance with
Rule 13d-(b)(ii)(G); see Item 7,
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
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CUSIP No. 700164106 13G Page 4 of 5 Pages
ITEM 4. OWNERSHIP.
(a) Amount beneficially owned:
216,099
(b) Percent of class:
9.28%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 186,545
(ii) Shared power to vote or direct the vote: 29,554
(iii) Sole power to dispose or to direct the
disposition of: 216,099
(iv) Shared power to dispose or to direct the
disposition of: 0
The reporting person is an employee stock ownership plan under the
Employee Retirement Income Security Act of 1974, as amended ("ERISA") with
individual accounts for the accrued benefits of participating employees and
their beneficiaries. The reporting person is administered by an ESOP Committee
("ESOP Committee") and its assets are held in trust by a trustee ("Plan
Trustee"). The number of shares listed as beneficially owned represents the
entire number of shares of Common Stock held by the reporting person as of
February 12, 1998. As of February 12, 1998, 29,554 shares of Common Stock had
been allocated to individual accounts established for participating employees
and their beneficiaries, and 186,545 of such shares were held, unallocated, for
allocation in future years. The reporting person has shared voting power with
respect to 212,870 shares and sole voting power with respect to 3,229 shares. In
general, participating employees and their beneficiaries have the power and
authority to direct the Trustee as to the voting of shares of Common Stock
allocated to their individual accounts. The reporting person has sole
dispositive power with respect to 216,099 shares. In limited circumstances,
ERISA may confer upon the Plan Trustee the power and duty to control the voting
and tendering of Common Stock allocated to the accounts of participating
employees and beneficiaries who fail to exercise their voting and/or tender
rights.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not Applicable.
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CUSIP No. 700164106 13G Page 5 of 5 Pages
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.
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 participation in any transaction having
such 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.
PARK FEDERAL SAVINGS BANK EMPLOYEE STOCK
OWNERSHIP PLAN
By: ESOP COMMITTEE
/s/ David A. Remijas
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(Signature)
David A. Remijas/President
-----------------------------
(Name/Title)
/s/ Richard J. Remijas, Jr.
-----------------------------
(Signature)
Richard J. Remijas, Jr./
Executive Vice President
-----------------------------
(Name/Title)
/s/ Steven J. Pokrak
-----------------------------
(Signature)
Steven J. Pokrak/Treasurer
-----------------------------
(Name/Title)
