<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 3/31/99
--------------
Check here if Amendment [ ]; Amendment Number:
--------------
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings
entries.
Institutional Investment Manager Filing this Report:
Name: Laurel Trust Company
---------------------------------------------
Address: 551 Main Street
---------------------------------------------
Johnstown, PA 15901
---------------------------------------------
---------------------------------------------
Form 13F File Number: 28-07668
-----------------------------
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: Kim Craig
---------------------------------------------
Title: President and Chief Operating Officer
---------------------------------------------
Phone: 814-536-2110
---------------------------------------------
Signature, Place, and Date of Signing:
/s/ Kim Craig* Johnstown, Pennsylvania 2/15/99
- ------------------------ ----------------------------- --------------
[Signature] [City, State] [Date]
*Pursuant to Rule 12b-11(d), Mr. Kim Craig has executed a document acknowledging
and adopting the use of his typed signature on Form 13F.
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this
reporting manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this
report, and all holdings are reported by other reporting
manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the
holdings for this reporting manager are reported in this
report and a portion are reported by other reporting
manager(s).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
-------------------
Form 13F Information Table Entry Total: 71
-------------------
Form 13F Information Table Value Total: $131,209
-------------------
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file
number(s) of all institutional investment managers with respect
to which this report is filed, other than the manager filing this
report.
[If there are no entries in this list, state "NONE" and omit the
column headings and list entries.]
No. Form 13F File Number Name
1 28-07666 BT Financial Corporation
---- --------------------- ------------------------
<PAGE>
FORM 13F INFORMATION TABLE
Page 1 of 6 Name of Reporting Manager Laurel Trust Company
<TABLE>
<CAPTION>
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title of CUSIP Value ----------------------- Investment Other Voting Authority
Class (x$1000) Shares of Direction Managers -----------------
Principal SH/PRN PUT/
Amount CALL Sole Shared None
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AT&T Corporation Strategy Common 00195710P 369 4,625 X 1 4,288 0 337
- -------------------------------------------------------------------------------------------------------------------------------
Abbott Labs Common 002824100 2,320 49,571 X 1 47,902 597 1,072
- -------------------------------------------------------------------------------------------------------------------------------
Allied Signal Corporation Common 019512102 771 15,696 X 1 15,196 0 500
- -------------------------------------------------------------------------------------------------------------------------------
America Online Inc. Common 02364J104 304 2,070 X 1 2,070 0 0
- -------------------------------------------------------------------------------------------------------------------------------
American General Corp. Common 026351106 257 3,648 X 1 3,648 0 0
- -------------------------------------------------------------------------------------------------------------------------------
American Home Products Common 026609107 965 14,800 X 1 12,800 0 2,000
- -------------------------------------------------------------------------------------------------------------------------------
American International Common 026874107 2,599 21,555 X 1 20,787 278 490
Group, Inc.
- -------------------------------------------------------------------------------------------------------------------------------
Ameritech Corporation Common 030954101 234 4,067 X 1 4,067 0 0
- -------------------------------------------------------------------------------------------------------------------------------
Amgen Common 031162100 3,119 41,668 X 1 39,968 200 1,500
- -------------------------------------------------------------------------------------------------------------------------------
Ascend Communications, Inc. Common 043491109 1,868 22,333 X 1 21,462 84 787
- -------------------------------------------------------------------------------------------------------------------------------
Automatic Data Processing Common 053015103 2,592 62,658 X 1 60,753 770 1,135
Inc.
- -------------------------------------------------------------------------------------------------------------------------------
BT Financial Corporation Common 055763106 3,790 143,054 X 1 106,844 0 36,210
- -------------------------------------------------------------------------------------------------------------------------------
BT Financial Corporation Common 055763106 450 17,000 X 0 0 17,000
- -------------------------------------------------------------------------------------------------------------------------------
Bankamerica Corp. Common 06605F102 251 3,565 X 1 3,565 0 0
- -------------------------------------------------------------------------------------------------------------------------------
Bell Atlantic Corp. Common 077853109 613 11,870 X 1 11,394 0 476
- -------------------------------------------------------------------------------------------------------------------------------
PAGE 1 TOTAL 20,502
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F INFORMATION TABLE
Page 2 of 6 Name of Reporting Manager Laurel Trust Company
<TABLE>
<CAPTION>
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title of CUSIP Value ----------------------- Investment Other Voting Authority
Class (x$1000) Shares of Direction Managers -------------------
Principal SH/PRN PUT/
Amount CALL Sole Shared None
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CBS Corporation Common 12490K107 2,759 67,632 X 1 65,486 851 1,295
- ---------------------------------------------------------------------------------------------------------------------------------
Cardinal Health Inc. Common 14149Y108 3,256 49,344 X 1 48,158 547 639
- ---------------------------------------------------------------------------------------------------------------------------------
Caterpillar Incorporated Common 14912310F 616 13,418 X 1 12,676 89 653
- ---------------------------------------------------------------------------------------------------------------------------------
Caterpillar, Inc. Strategy Common 14912310P 927 20,196 X 1 19,370 199 627
- ---------------------------------------------------------------------------------------------------------------------------------
Chevron Corporation Common 16675110P 1,513 17,058 X 1 16,476 185 397
Strategy
- ---------------------------------------------------------------------------------------------------------------------------------
Cisco Systems Common 17275R102 3,819 34,861 X 1 33,882 344 635
- ---------------------------------------------------------------------------------------------------------------------------------
Citigroup Inc. Common 172967101 3,034 47,518 X 1 44,558 588 2,372
- ---------------------------------------------------------------------------------------------------------------------------------
The Coca Cola Company Common 191216100 2,953 48,126 X 1 46,660 602 864
- ---------------------------------------------------------------------------------------------------------------------------------
Computer Assoc Intl Inc. Common 204912109 759 21,367 X 1 19,192 0 2,175
- ---------------------------------------------------------------------------------------------------------------------------------
Dell Computer Corporation Common 247025109 261 6,400 X 1 6,200 0 200
- ---------------------------------------------------------------------------------------------------------------------------------
Dupont E I DeNemours Common 26353410F 611 10,527 X 1 9,951 69 507
- ---------------------------------------------------------------------------------------------------------------------------------
Dupont E I DeNemours Common 26353410P 1,751 30,176 X 1 29,334 286 556
- ---------------------------------------------------------------------------------------------------------------------------------
EMC Corporation Common 268648102 1,251 9,800 X 1 9,500 0 300
- ---------------------------------------------------------------------------------------------------------------------------------
Eastman Kodak Company Common 27746110P 947 14,833 X 1 14,271 156 406
- ---------------------------------------------------------------------------------------------------------------------------------
Eastman Kodak Co. Common 277461109 288 4,512 X 1 0 0 4,512
- ---------------------------------------------------------------------------------------------------------------------------------
Exxon Corporation Common 30229010P 2,414 34,222 X 1 33,444 262 516
- ---------------------------------------------------------------------------------------------------------------------------------
PAGE 2 TOTAL 27,159
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F
Page 3 of 6 Name of Reporting Manager Laurel Trust Company
<TABLE>
<CAPTION>
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title of CUSIP Value ----------------------- Investment Other Voting Authority
Class (x$1000) Shares of Direction Managers -------------------
Principal SH/PRN PUT/
Amount CALL Sole Shared None
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Federal Home Loan Mortgage Common 313400301 2,037 35,563 X 1 34,201 570 792
Corp.
- ------------------------------------------------------------------------------------------------------------------------------------
Federal National Mortgage Common 313586109 249 3,600 X 1 3,400 0 200
Association
- ------------------------------------------------------------------------------------------------------------------------------------
First Comwlth Finl Corp PA Common 319829107 278 13,083 X 1 3,698 0 9,385
- ------------------------------------------------------------------------------------------------------------------------------------
GTE Corp. Common 362320103 578 9,555 X 1 7,005 0 2,550
- ------------------------------------------------------------------------------------------------------------------------------------
Gannett Inc. Common 364730101 1,203 19,100 X 1 19,100 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
General Electric Company Common 369604103 2,904 26,254 X 1 25,147 504 603
- ------------------------------------------------------------------------------------------------------------------------------------
General Motors Corporation Common 37044210F 830 9,546 X 1 9,019 63 464
- ------------------------------------------------------------------------------------------------------------------------------------
General Motors Corporation Common 37044210P 1,447 16,640 X 1 16,012 165 463
- ------------------------------------------------------------------------------------------------------------------------------------
Gillette Company Common 375766102 1,635 27,527 X 1 26,615 426 486
- ------------------------------------------------------------------------------------------------------------------------------------
Goodyear Tire and Rubber Common 38255010P 918 18,452 X 1 17,693 181 578
- ------------------------------------------------------------------------------------------------------------------------------------
Huntington Bancshares, Inc. Common 446150104 3,949 27,697 X 1 89,386 0 38,311
- ------------------------------------------------------------------------------------------------------------------------------------
Illinois Tool Wks Inc. Common 452308109 1,356 21,930 X 1 21,720 110 100
- ------------------------------------------------------------------------------------------------------------------------------------
Intel Corporation Common 458140100 2,883 24,260 X 1 23,691 183 386
- ------------------------------------------------------------------------------------------------------------------------------------
International Business Common 459200101 3,663 20,667 X 1 19,771 280 616
Machines
- ------------------------------------------------------------------------------------------------------------------------------------
Johnson & Johnson Common 478160104 415 4,445 X 1 3,845 0 600
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE 3 TOTAL 24,345
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F
Page 4 of 6 Name of Reporting Manager Laurel Trust Company
<TABLE>
<CAPTION>
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title of CUSIP Value ----------------------- Investment Other Voting Authority
Class (x$1000) Shares of Direction Managers -------------------
Principal SH/PRN PUT/
Amount CALL Sole Shared None
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Lucent Technologies Common 549463107 334 3,099 X 1 3,099 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
MBNA Corporation Common 55262L100 1,998 83,750 X 1 80,713 1,115 1,922
- ------------------------------------------------------------------------------------------------------------------------------------
MCI Worldcom, Inc. Common 55268B106 219 2,481 X 1 2,481 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
McDonalds Corp Common 580135101 3,959 87,394 X 1 85,294 600 1,500
- ------------------------------------------------------------------------------------------------------------------------------------
Medtronic, Inc. Common 585055106 2,398 33,371 X 1 31,300 442 1,629
- ------------------------------------------------------------------------------------------------------------------------------------
Merck & Co Inc. Common 589331107 560 7,000 X 1 7,000 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
Merck & Co Inc. Common 589331107 214 2,680 X 1 0 0 2,680
- ------------------------------------------------------------------------------------------------------------------------------------
Merrill Lynch & Co. Common 590188108 2,813 31,790 X 1 30,820 441 529
- ------------------------------------------------------------------------------------------------------------------------------------
Microsoft Corporation Common 594918104 1,981 22,114 X 1 21,420 224 470
- ------------------------------------------------------------------------------------------------------------------------------------
S&P Mid-Cap 400 Depository Common 595635103 786 11,405 X 1 10,893 0 512
Receipts
- ------------------------------------------------------------------------------------------------------------------------------------
Minnesota Mining and Mfg Co Common 60405910P 1,037 14,660 X 1 14,113 151 396
- ------------------------------------------------------------------------------------------------------------------------------------
Morgan JP & Company Common 61688010P 1,343 10,892 X 1 10,486 138 268
- ------------------------------------------------------------------------------------------------------------------------------------
National City Corp. Common 635405103 219 3,308 X 1 3,308 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
Northern Trust Corporation Common 665859104 2,236 25,185 X 1 24,634 296 255
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE 4 TOTAL 20,097
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F
Page 5 of 6 Name of Reporting Manager Laurel Trust Company
<TABLE>
<CAPTION>
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title of CUSIP Value ----------------------- Investment Other Voting Authority
Class (x$1000) Shares of Direction Managers -----------------------
Principal SH/PRN PUT/
Amount CALL Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PNC Bank Corp. Common 693475105 212 3,830 X 1 3,330 0 500
- ------------------------------------------------------------------------------------------------------------------------------------
Peoples Heritage Financial Common 711147108 232 12,892 X 1 12,892 0 0
Group Inc.
- ------------------------------------------------------------------------------------------------------------------------------------
Pepsico Inc. Common 713448108 619 15,800 X 1 5,800 0 10,000
- ------------------------------------------------------------------------------------------------------------------------------------
Phillip Morris Company Common 71815410F 398 11,336 X 1 10,839 78 419
- ------------------------------------------------------------------------------------------------------------------------------------
Phillip Morris Company Common 71815410P 1,349 38,374 X 1 37,851 48 475
- ------------------------------------------------------------------------------------------------------------------------------------
Proctor & Gamble Co. Common 742718109 942 9,628 X 1 9,511 117 0
- ------------------------------------------------------------------------------------------------------------------------------------
Rambus Incorporated Common 750917106 328 5,100 X 1 5,100 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
S & T Bancorp, Inc. Common 783859101 230 12,032 X 1 12,032 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
S&P 500 Depository Receipts Common 78462F103 19,906 155,071 X 1 152,220 489 2,362
- ------------------------------------------------------------------------------------------------------------------------------------
Safeway, Inc. Common 786514208 2,059 40,139 X 1 38,636 523 980
- ------------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp. Common 806605101 2,675 48,424 X 1 46,743 557 1,124
- ------------------------------------------------------------------------------------------------------------------------------------
Charles Schwab Corp. Common 808513105 432 4,500 X 1 4,500 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
UST Incorporated Common 902911106 219 8,400 X 1 8,400 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
US Bancorp, Del Common 902973106 1,054 30,948 X 1 20,493 0 10,455
- ------------------------------------------------------------------------------------------------------------------------------------
Union Carbide Corp Common 90558110F 713 15,789 X 1 14,922 104 763
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE 5 TOTAL 31,368
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F
Page 6 of 6 Name of Reporting Manager Laurel Trust Company
<TABLE>
<CAPTION>
Column 1: Column 2: Column 3: Column 4: Column 5: Column 6: Column 7: Column 8:
Name of Issuer Title of CUSIP Value ----------------------- Investment Other Voting Authority
Class (x$1000) Shares of Direction Managers --------------------
Principal SH/PRN PUT/
Amount CALL Sole Shared None
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
USABankcorp Inc PA Common 917292104 1,956 133,819 X 1 102,490 0 31,329
- -----------------------------------------------------------------------------------------------------------------------------------
Wal-Mart Stores, Inc. Common 931142103 1,137 12,344 X 1 11,872 257 215
- -----------------------------------------------------------------------------------------------------------------------------------
Xerox Corporation Common 984121103 1,949 37,407 X 1 36,073 464 870
- -----------------------------------------------------------------------------------------------------------------------------------
Royal Bank Scotland Group Preferred 780097879 2,500 100,000 X 1 100,000 0 0
- -----------------------------------------------------------------------------------------------------------------------------------
Putnam Premier Income Mutual 746853100 106 14,000 X 1 14,000 0 0
Trust Sh Ben Int Funds-Fixed
Income
- -----------------------------------------------------------------------------------------------------------------------------------
MFS Inter Income Trust Sh Mutual 55273C107 90 13,615 X 1 13,615 0 0
Ben Int Funds-Fixed
Income
- ------------------------------------------------------------------------------------------------------------------------------------
PAGE 6 TOTAL 7,738
- ------------------------------------------------------------------------------------------------------------------------------------
GRAND TOTAL 131,209
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
