COLORADO STATE BANK & TRUST
13F-HR, 1999-11-12
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<PAGE>   1

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington DC 20549

                                   FORM 13F

                              FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:     September 30, 1999

Check here if Amendment [ ]; Amendment Number:

This Amendment: [ ] is a restatement.
                [ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:     Colorado State Bank & Trust
Address:  1600 Broadway
          Denver, CO 80202


Form 13F File Number:

The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:    Aaron Azari
Title:   Senior Vice President
Phone:   303-864-7220

Signature, Place, and Date of Signing:

       Aaron Azari                          Denver, CO                11/10/99
- ------------------------------          --------------------          --------
Signature                               City, State                   Date

Report Type:

[X] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
<PAGE>   2

                             FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:            0

Form 13F Information Table Entry Total:     133

Form 13F Information Table Value Total:  47,500

List of Other Included Managers:
NONE
<PAGE>   3
<TABLE>
<CAPTION>
                                                   FORM 13F INFORMATION TABLE

      ITEM 1 AND 2                         ITEM 3    ITEM 4     ITEM 5      ITEM 6       ITEM 7           ITEM 8
- -------------------------                  ------    -------- --------- --------------- -------- -------------------------
                                                                          INVESTMENT
                                                      MARKET   SHARES     DISCRETION                  VOTING AUTHORITY
                                                      VALUE      OR     SOLE  SHR OTHER          SOLE         SHARED  NONE
ISSUER AND TITLE OF CLASS                  CUSIP     (x$1000) PRINCIPAL  (A)  (B)  (C)  MANAGERS (A)           (B)    (C)
- -------------------------                  -----     -------- --------- ----  --- ----- -------- ----          ---    ----
<S>                                        <C>       <C>      <C>       <C>   <C> <C>   <C>      <C>           <C>    <C>
AT&T CORP COM                               1957109    215     4,947 SH  X                         4,947

AT&T CORP COM                               1957109    241     5,537 SH        X   X               5,537

ABBOTT LABS COM                             2824100  2,034    55,434 SH  X                        14,710              40,724

ABBOTT LABS COM                             2824100     15       400 SH        X   X                 400

AMERICAN EXPRESS CO COM                    25816109    365     2,700 SH  X                         2,700

AMERICAN HOME PRODS CORP COM               26609107    365     8,800 SH  X                         8,800

AMERICAN HOME PRODS CORP COM               26609107    104     2,500 SH        X   X               1,800                 700

AMERICAN INTL GROUP INC COM                26874107     94     1,081 SH  X                         1,081

AMERICAN INTL GROUP INC COM                26874107    126     1,452 SH        X   X               1,452

AMERITECH CORP NEW COM                     30954101    275     4,116 SH  X                         4,116

AMERITECH CORP NEW COM                     30954101    580     8,692 SH        X   X               5,792               2,900

ANHEUSER BUSCH COS INC COM                 35229103    147     2,100 SH  X                         2,100

ANHEUSER BUSCH COS INC COM                 35229103     84     1,200 SH        X   X               1,200

ATLANTIC RICHFIELD CO COM                  48825103    182     2,050 SH  X                         2,050

ATLANTIC RICHFIELD CO COM                  48825103     71       800 SH        X   X                 800

AUTOMATIC DATA PROCESSING COM              53015103    431     9,655 SH  X                         9,055                 600

BP AMOCO SPON ADR                          55622104    405     3,656 SH  X                         1,837               1,819

BP AMOCO SPON ADR                          55622104    146     1,322 SH        X   X               1,322

BANK AMER CORP                             60505104     80     1,429 SH  X                         1,404                  25
COM
BANK AMER CORP                             60505104    234     4,196 SH        X   X               4,196
COM
BELL ATLANTIC CORP COM                     77853109    358     5,312 SH  X                         5,312
</TABLE>
<PAGE>   4
<TABLE>
<S>                                        <C>       <C>      <C>       <C>   <C> <C>   <C>      <C>           <C>    <C>
BELL ATLANTIC CORP COM                     77853109    405     6,022 SH        X   X               4,022               2,000

BELLSOUTH CORP COM                         79860102    586    13,024 SH  X                        13,024

BELLSOUTH CORP COM                         79860102    570    12,668 SH        X   X               8,268               4,400

PINE CONE SYSTEMS INC                     1A0380CS9     56   140,000 SH  X                       140,000

BRISTOL MYERS SQUIBB CO COM               110122108    890    13,180 SH  X                        12,760                 420

BRISTOL MYERS SQUIBB CO COM               110122108     14       200 SH        X   X                 200

CHEVRON CORP COM                          166751107    287     3,238 SH  X                         3,238

CHEVRON CORP COM                          166751107    469     5,284 SH        X   X               5,284

CISCO SYS INC COM                         17275R102     76     1,115 SH  X                           325                 790

CISCO SYS INC COM                         17275R102    149     2,174 SH        X   X               2,174

CITIGROUP INC COM                         172967101    133     3,021 SH  X                         2,996                  25

CITIGROUP INC COM                         172967101    112     2,537 SH        X   X               2,537

COCA COLA CO COM                          191216100    424     8,795 SH  X                         8,745                  50

COCA COLA CO COM                          191216100    142     2,950 SH        X   X               2,950
</TABLE>
<PAGE>   5
<TABLE>
<S>                                        <C>       <C>      <C>       <C>   <C> <C>   <C>      <C>           <C>    <C>
COLGATE PALMOLIVE CO COM                  194162103  4,861   106,262 SH  X                       106,262

DAYTON HUDSON CORP COM                    239753106    210     3,500 SH  X                         3,500

DELL COMPUTER CORP COM                    247025109    227     5,440 SH        X   X               5,440

DU PONT E I DE NEMOURS & CO COM           263534109    183     3,032 SH  X                         3,032

DU PONT E I DE NEMOURS & CO COM           263534109     67     1,113 SH        X   X               1,113

EMERSON ELEC CO COM                       291011104    378     5,980 SH  X                         5,705                 275

EMERSON ELEC CO COM                       291011104    145     2,300 SH        X   X               1,800                 500

EXXON CORP COM                            302290101  1,146    15,079 SH  X                        15,079

EXXON CORP COM                            302290101    733     9,648 SH        X   X               9,648

FIRST UN CORP COM                         337358105    207     5,800 SH  X                         5,800

GTE CORP COM                              362320103    504     6,562 SH  X                         6,562

GTE CORP COM                              362320103    286     3,720 SH        X   X               3,720

GENERAL ELEC CO COM                       369604103  2,399    20,234 SH  X                        20,234

GENERAL ELEC CO COM                       369604103    976     8,229 SH        X   X               8,229

HEWLETT PACKARD CO COM                    428236103    167     1,840 SH  X                         1,370                 470

HEWLETT PACKARD CO COM                    428236103     36       400 SH        X   X                 400

HONEYWELL INC COM                         438506107    245     2,204 SH  X                         2,204

INGERSOLL RAND CO COM                     456866102     99     1,800 SH  X                         1,800

INGERSOLL RAND CO COM                     456866102    107     1,950 SH        X   X               1,950

INTEL CORP COM                            458140100    486     6,540 SH  X                         6,540
</TABLE>
<PAGE>   6
<TABLE>
<S>                                        <C>       <C>      <C>       <C>   <C> <C>   <C>      <C>           <C>    <C>
INTEL CORP COM                            458140100    174     2,340 SH        X   X               2,340

INTERNATIONAL BUSINESS MACHS COM          459200101    877     7,252 SH  X                         7,252

INTERNATIONAL BUSINESS MACHS COM          459200101    339     2,800 SH        X   X               2,400                 400

JOHNSON & JOHNSON COM                     478160104    148     1,616 SH  X                         1,616

JOHNSON & JOHNSON COM                     478160104    193     2,100 SH        X   X               2,100

KROGER CO COM                             501044101    145     6,580 SH  X                         6,580

KROGER CO COM                             501044101    103     4,660 SH        X   X               4,660

LEXMARK INTL GROUP INC CL A               529771107    290     3,600 SH        X   X                                   3,600

LILLY ELI & CO COM                        532457108    315     4,900 SH  X                         4,900

LUCENT TECHNOLOGIES INC COM               549463107    239     3,680 SH  X                         3,240                 440

LUCENT TECHNOLOGIES INC COM               549463107    509     7,852 SH        X   X               5,212               2,640

MCDONALDS CORP COM                        580135101    193     4,460 SH  X                         4,460

MCDONALDS CORP COM                        580135101     61     1,400 SH        X   X               1,400

MEDIAONE GROUP INC COM                    58440J104    135     1,969 SH  X                         1,969

MEDIAONE GROUP INC COM                    58440J104    136     1,995 SH        X   X               1,995

MERCK & CO INC COM                        589331107    527     8,126 SH  X                         8,106                  20

MERCK & CO INC COM                        589331107     68     1,050 SH        X   X               1,050

MICROSOFT CORP COM                        594918104    397     4,387 SH  X                         4,052                 335

MICROSOFT CORP COM                        594918104     23       250 SH        X   X                 250

MINNESOTA MNG & MFG CO COM                604059105    207     2,150 SH  X                         2,150

MINNESOTA MNG & MFG CO COM                604059105    125     1,300 SH        X   X               1,300

MOBIL CORP COM                            607059102    403     4,000 SH  X                         4,000

MOBIL CORP COM                            607059102    101     1,000 SH        X   X               1,000

MORGAN J P & CO INC COM                   616880100    324     2,837 SH  X                         2,837

MORGAN J P & CO INC COM                   616880100    120     1,050 SH        X   X                 850                 200
</TABLE>
<PAGE>   7
<TABLE>
<S>                                        <C>       <C>      <C>       <C>   <C> <C>   <C>      <C>           <C>    <C>
NEW CENTY ENERGIES INC COM                64352U103    100     2,982 SH  X                         2,982

NEW CENTY ENERGIES INC COM                64352U103    202     6,050 SH        X   X               6,050

NORFOLK SOUTHN CORP COM                   655844108    207     8,456 SH  X                         8,456

NORFOLK SOUTHN CORP COM                   655844108     54     2,200 SH        X   X                 100               2,100

NORTHERN TR CORP COM                      665859104    280     3,356 SH  X                           350               3,006

NORTHERN TR CORP COM                      665859104     33       400 SH        X   X                                     400

OCEAN ENERGY INC TEX                      67481E106    252    24,780 SH  X                        24,780
COM
OLD REP INTL CORP COM                     680223104    190    13,149 SH  X                        13,149

PAULA FINL DEL COM                        703588103    101    16,400 SH  X                        16,400

PEPSICO INC COM                           713448108    279     9,155 SH  X                         9,155

PEPSICO INC COM                           713448108     67     2,200 SH        X   X               2,200

PFIZER INC COM                            717081103    500    13,929 SH  X                        13,929

PFIZER INC COM                            717081103  1,101    30,687 SH        X   X              30,687

PITNEY BOWES INC COM                      724479100    119     1,950 SH  X                         1,950

PITNEY BOWES INC COM                      724479100    680    11,165 SH        X   X              11,165

PRIMA ENERGY CORP COM                     741901201    570    25,000 SH  X                        25,000

PRIMA ENERGY CORP COM                     741901201    582    25,506 SH        X   X              25,506

PROCTER & GAMBLE CO COM                   742718109    183     1,950 SH  X                         1,950

PROCTER & GAMBLE CO COM                   742718109    126     1,340 SH        X   X               1,340

ROYAL DUTCH PETE CO N Y REGISTRY SH       780257804    400     6,774 SH  X                         6,774
PAR N GLDR 1.25
ROYAL DUTCH PETE CO N Y REGISTRY SH       780257804    263     4,450 SH        X   X               4,450
PAR N GLDR 1.25
SBC COMMUNICATIONS INC COM                78387G103    545    10,682 SH  X                        10,182                 500

SBC COMMUNICATIONS INC COM                78387G103    467     9,144 SH        X   X               7,436               1,708

ST PAUL COS INC COM                       792860108    112     4,060 SH  X                         4,060

ST PAUL COS INC COM                       792860108  1,265    45,999 SH        X   X              45,999
</TABLE>
<PAGE>   8
<TABLE>
<S>                                        <C>       <C>      <C>       <C>   <C> <C>   <C>      <C>           <C>    <C>
SARA LEE CORP COM                         803111103    203     8,700 SH  X                         8,300                 400

SCHLUMBERGER LTD COM                      806857108     93     1,500 SH  X                         1,500

SCHLUMBERGER LTD COM                      806857108    116     1,854 SH        X   X               1,254                 600

SOLECTRON CORP COM                        834182107     86     1,200 SH  X                         1,200

SOLECTRON CORP COM                        834182107    115     1,600 SH        X   X               1,600

SOUTHWESTERN ENERGY CO COM                845467109    302    33,300 SH  X                        33,300

SPRINT CORP COM (FON GROUP)               852061100     11       200 SH  X                           200

SPRINT CORP COM (FON GROUP)               852061100    195     3,600 SH        X   X               3,600

TEXACO INC COM                            881694103    282     4,460 SH  X                         4,460

TEXACO INC COM                            881694103    106     1,675 SH        X   X               1,675

US BANCORP DEL COM                        902973106    397    13,158 SH  X                        13,158

US BANCORP DEL COM                        902973106     45     1,476 SH        X   X               1,476

USG CORP COM NEW                          903293405    424     8,896 SH  X                         8,896

UNION PAC CORP COM                        907818108     61     1,275 SH  X                         1,050                   225

UNION PAC CORP COM                        907818108    142     2,950 SH        X   X               2,950

US WEST INC NEW COM                       91273H101    129     2,266 SH  X                         2,266

US WEST INC NEW COM                       91273H101    209     3,664 SH        X   X               3,664

UNITED TECHNOLOGIES CORP COM              913017109    202     3,405 SH  X                         2,965                   440

UNITED TECHNOLOGIES CORP COM              913017109      6       100 SH        X   X                 100

VODAFONE AIRTOUCH PUBLIC LTD CO ADR       92857T107    437     1,838 SH  X                         1,838

VODAFONE AIRTOUCH PUBLIC LTD CO ADR       92857T107    336     1,414 SH        X   X                 864                   550
</TABLE>
<PAGE>   9
<TABLE>
<S>                                        <C>       <C>      <C>       <C>   <C> <C>   <C>      <C>           <C>    <C>
WACHOVIA CORP NEW COM                     929771103    393     5,000 SH  X                         5,000

WARNER LAMBERT CO COM                     934488107    100     1,500 SH  X                         1,500

WARNER LAMBERT CO COM                     934488107    535     8,064 SH        X   X               8,064

WELLS FARGO CO COM                        949746101     96     2,430 SH  X                         2,430

WELLS FARGO CO COM                        949746101  3,051    77,005 SH        X   X              76,005                 1,000

WESTERN GAS RES INC COM                   958259103    271    14,500 SH  X                        14,500
                                                    ------
FINAL TOTALS                                        47,500
</TABLE>


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