UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Equality Bancorp, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
29439810
(CUSIP Number)
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 ("Act") 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).
CUSIP NO. 29439810
(1) Names of Reporting Persons I.R.S. Identification Nos. of Above
Persons (entities only):
Equality Employee Stock Ownership Plan
(2) Check the Appropriate Box if a Member of a Group (See
Instructions)
(a) [X]
(b) [ ]
(3) SEC Use Only
(4) Citizenship or Place of Organization:
Missouri
Number of Shares Beneficially Owned by Each Reporting Person
with:
(5) Sole Voting Power None
(6) Shared Voting Power 153,857
(7) Sole Dispositive Power None
(8) Shared Dispositive Power 153,857<PAGE>
(9) Aggregate Amount Beneficially Owned by Each Reporting Person:
153,857
(10) Check if the Aggregate Amount in Row 9 Excludes Certain Shares
(See Instructions)
Not Applicable.
(11) Percent of Class Represented by Amount in Row 9
6.2%
(12) Type of Reporting Person (See Instructions)
EP
SCHEDULE 13G
Item 1(a) Name of Issuer:
Equality Bancorp, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
9920 Watson Road
St. Louis, Missouri 63126
Item 2(a) Name of Person Filing:
Equality Employee Stock Ownership Plan
Item 2(b) Address of Principal Business Office:
4131 South Grand Boulevard
St. Louis, Missouri 63118
Item 2(c) Citizenship:
Missouri
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
29439810
Item 3 Check whether the person filing is a:<PAGE>
Item 3(f) X Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income
Security Act of 1974.
Item 3(h) X Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Item 3(a) (b) (c) (d) (e) (g) - not applicable.
Item 4 Ownership.
(a) Amount Beneficially Owned: 153,857
(b) Percent of Class: 6.2%
Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: None
(ii) shared power to vote or to direct the vote: 153,857
(iii) sole power to dispose or to direct the
disposition of: None
(iv) shared power to dispose or to direct the
disposition of: 153,857
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.
This Schedule 13G is being filed on behalf of the Employee
Stock Ownership Plan ("ESOP") identified in Item 2(a) by the
ESOP Committee and the ESOP Trustee both filing under the Item
3(f) and 3(h) classifications. Exhibit A contains a disclosure
of the voting and dispositive powers over shares of the issuer
held directly by these entities exclusive of those shares held by
the ESOP as well as identification of members of these groups.
Item 9 Notice of Dissolution of Group.
Not Applicable.<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 purpose or effect.<PAGE>
Signature.
After reasonable inquiry and to the best of my knowledge and
belief, as a member of the Plan Committee or as an ESOP Trustee, I
certify that the information set forth in this statement is true,
complete and correct.
/s/ Kenneth J. Hrdlicka February 12, 1998
------------------------------ -------------------
Kenneth J. Hrdlicka Date
/s/ Stacey W. Braswell February 12, 1998
----------------------------- --------------------
Stacey W. Braswell Date
/s/ Daniel C. Aubuchon February 12, 1998
----------------------------- --------------------
Daniel C. Aubuchon Date
/s/ Richard C. Fellhauer February 12, 1998
----------------------------- -------------------
Richard C. Fellhauer Date
/s/ Michael A. Deelo February 12, 1998
----------------------------- -------------------
Michael A. Deelo Date<PAGE>
Exhibit A
IDENTIFICATION OF MEMBERS OF GROUP
Shares of common stock of the issuer are held in trust for the
benefit of participating employees by the ESOP Trustee. The ESOP
Trustee shares voting and dispositive power with the ESOP Committee.
By the terms of the ESOP, the ESOP Trustee votes stock allocated to
participant accounts as directed by participants. Stock held by the
ESOP Trust, but not yet allocated is voted by the ESOP Trustee as
directed by the ESOP Committee. Investment direction is exercised by
the ESOP Trustee as directed by the ESOP Committee. The ESOP
Committee and the ESOP Trustee share voting and dispositive power with
respect to the unallocated stock held by the ESOP pursuant to their
fiduciary responsibilities under Section 404 of the Employee
Retirement Income Security Act of 1974, as amended.
Members of the ESOP Committee and their beneficial ownership of
shares of common stock of the issuer exclusive of membership on the
ESOP Committee and Trustee Committee and of shares beneficiary owned
as a Participant in the ESOP are as follows:
BENEFICIAL BENEFICIAL OWNERSHIP
NAME OWNERSHIP AS ESOP PARTICIPANT
---- ---------- --------------------
Richard C. Fellhauer 65,641 2,660
Michael A. Deelo 58,644 1,352
Kenneth J. Hrdlicka 15,830 -0-
Stacey W. Braswell 19,495 -0-
Daniel C. Aubuchon 12,829 -0-<PAGE>
