<PAGE> 1
Filed Pursuant to Rule 424(b)(3)
Registration Statement No. 333-43727
<TABLE>
<S> <C> <C>
[LOCAL FINANICAL LOGO] LOCAL FINANCIAL CORPORATION
SUPPLEMENT NO. 6 TO PROSPECTUS
DATED APRIL 20, 1998
</TABLE>
This supplement No. 6 (this "Supplement") to the Local Financial Corporation
("Local Financial") prospectus dated April 20, 1998 (as previously supplemented,
the "Prospectus") supplements and amends the information set forth under the
heading "Selling Shareholders" in the Prospectus. This Supplement adds the
following persons and information about the number of shares of Common Stock and
principal amount of Senior Notes owned and offered by such persons to the table
of Selling Shareholders listed in the Prospectus. Capitalized terms used but not
defined in this Supplement are used as defined in the Prospectus.
<TABLE>
<CAPTION>
NUMBER OF SHARES OF PRINCIPAL AMOUNT OF
COMMON STOCK SENIOR NOTES BENEFICIALLY
BENEFICIALLY OWNED AND OWNED AND OFFERED
NAME OF SELLING HOLDER OFFERED HEREBY HEREBY
---------------------- ---------------------- -------------------------
<S> <C> <C>
David N. Brown.............................................. -- 100,000
College Retirement Equities Fund............................ 65,000 --
Financial Stocks Private Equity Fund 1998 L.P. ............. 1,257,300 --
Gross Foundation, Inc. ..................................... 20,000 --
Hawaii State Employees Retirement System.................... 49,200 --
Key L.C. ................................................... 20,000 --
Lorraine -- Urethane Employee Pension Voluntary
Contribution.............................................. 10,000 --
Putnam Funds Trust -- Putnam High Yield Trust II............ 1,300,000 --
Putnam High Yield Fixed Income Fund, LLC.................... 200,000 --
Seneca Capital.............................................. 30,000 --
Valarian Associates, L.P. .................................. 50,000 --
Dean V. and Barbara O. White................................ 50,000 --
</TABLE>
The Prospectus, together with this Prospectus Supplement No. 6, constitutes
the prospectus required to be delivered by Section 5(b) of the Securities Act of
1933, as amended, with respect to offers and sales of the Notes and the Company
Common Stock. All references in the Prospectus to "this Prospectus" are hereby
amended to read "this Prospectus (as supplemented and amended)."
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
THE DATE OF THIS SUPPLEMENT IS DECEMBER 30, 1998.