<PAGE>
Securities and Exchange Commission,
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
COAST BANCORP
- --------------------------------------------------------------------------------
Name of Issuer
Common Stock, no par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
190297101
- --------------------------------------------------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement / /. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
- --------------------------------------------------------------------------------
CUSIP NO. 190297101
- --------------------------------------------------------------------------------
(1) Names of reporting persons . . . . . . . . . . . . Richard E. Alderson
S.S. or IRS. Identification Nos. of above persons . . . ###-##-####
- --------------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group (a)
(See Instructions) (b)
- --------------------------------------------------------------------------------
(3) SEC use only . . . . . . . . . . . . . . . . . . .
- --------------------------------------------------------------------------------
(4) Citizenship or place of organization . . . . . . . U.S.A.
- --------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting
person with:
(5) Sole voting power . . . . . . . . . . . . . . . . 167,281
(6) Shared voting power . . . . . . . . . . . . . . .
(7) Sole dispositive power . . . . . . . . . . . . . .
(8) Shared dispositive power . . . . . . . . . . . . .
- --------------------------------------------------------------------------------
(9) Aggregate amount beneficially owned by each 167,281
reporting person.
- --------------------------------------------------------------------------------
1 of 4 Pages
<PAGE>
- --------------------------------------------------------------------------------
(10) Check if the aggregate amount in Row (9) excludes
certain shares (see instructions). . .
- --------------------------------------------------------------------------------
(11) Percent of class represented by amount in Row (9) 7.6%
- --------------------------------------------------------------------------------
(12) Type of reporting person (see instructions) IN
- --------------------------------------------------------------------------------
C. The item numbers and captions of the items shall be included but the
text of the items is to be omitted. The answers to the items shall be so
prepared as to indicate clearly the coverage of the items without referring to
the text of the items. Answer every item. If an item is inapplicable or the
answer is in the negative, so state.
ITEM 1(a) Name of issuer: Coast Bancorp
------------------------------------------------------
ITEM 1(b) Address of issuer's principal executive offices:
740 Front Street, Santa Cruz, California 95060
- --------------------------------------------------------------------------------
ITEM 2(a) Name of person filing: Richard E. Alderson
-----------------------------------------------
ITEM 2(b) Address or principal business office or, if none, residence:
4542 Arana Creek Way, Santa Cruz, California 95065
- --------------------------------------------------------------------------------
ITEM 2(c) Citizenship: U.S.A.
---------------------------------------------------------
ITEM 2(d) Title of class of securities: Common Stock, no par value
------------------------------------------
ITEM 2(e) CUSIP No.: 190297101
-----------------------------------------------------------
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) / / Employee benefit plan, pension fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or endowment fund; see Section 240.13d-1(b)(1)(ii)(F).
(g) / / Parent holding company, in accordance with Section 240.13d-
1(b)(ii)(G).
(h) / / Group, in accordance with Section 240.13d-1(b)(1)(ii)(H).
2 of 4 Pages
<PAGE>
ITEM 4. OWNERSHIP. If the percent of the class owned, as of December 31 of
the year covered by the statement, or as of the last day of any month described
in Rule 13d-1(b)(2), if applicable, exceeds 5 percent, provide the following
information as of that date and identify those shares which there is a right to
acquire.
(a) Amount beneficially owned 167,281(1/)
---------------------------------------------
(b) Percent of class: 7.6%
-----------------------------------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 167,281
-----------------------
(ii) Shared power to vote or to direct the vote
----------------------
(iii) Sole power to dispose or to direct the disposition of
----------
(iv) Shares power to dispose or to direct the disposition of
----------
ITEM 5. OWNERSHIP OF 5 PERCENT OR LESS OF A CLASS. 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 5 percent of the class of
securities, check the following / /.
ITEM 6. OWNERSHIP OF MORE THAN 5 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.
- ------------------------------
(1/) Includes an option for 4,000 shares which is presently exercisable.
3 of 4 Pages
<PAGE>
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 purposes 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.
Dated: February 5, 1997 /s/RICHARD E. ALDERSON
---------------------------------------------
Richard E. Alderson
4 of 4 Pages
