SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-l(b), (c) AND (d) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(b)
(AMENDMENT NO. ___ )
HOMESTEAD BANCORP, INC.
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
(Title of Class of Securities)
437698 10 3
(CUSIP Number)
July 17, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
__X__ Rule 13d-l(b)
_____ Rule 13d-l(c)
_____ Rule 13d-l(d)
Page 1 of 5 Pages
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CUSIP NO. 437698 10 3 Page 2 of 5 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Homestead Bancorp, Inc. Employee Stock Ownership Plan 72-1416514
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ___
(b) ___
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Louisiana
5. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE VOTING POWER
89,563
6. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SHARED VOTING POWER
0
7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE DISPOSITIVE POWER
89,563
8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SHARED DISPOSITIVE POWER
0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
89,563
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES _____
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%
12. TYPE OF REPORTING PERSON
EP
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CUSIP NO. 437698 10 3 Page 3 of 5 Pages
Item l(a) Name of Issuer:
Homestead Bancorp, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
195 North Sixth Street
Ponchatoula, Louisiana 70454
Item 2(a) Name of Person Filing:
Homestead Bancorp, Inc. Employee Ownership Plan
Item 2(b) Address of Principal Business Office or, if None, Residence:
Homestead Bancorp, Inc.
195 North Sixth Street
Ponchatoula, Louisiana 70454
Item 2(c) Citizenship:
Louisiana
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e) CUSIP Number:
437698 10 3
Item 3. If This Statement is Filed Pursuant to Rule 13d-l(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(f) __X__ An employee benefit plan or endowment fund in
accordance with Rule 13d-l(b)(1)(ii)(F).
If this statement is filed pursuant to Rule l3d-l(c),
check this box. _____
Item 4. Ownership.
(a) Amount beneficially owned:
89,563
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CUSIP NO. 437698 10 3 Page 4 of 5 Pages
(b) Percent of class: 6.1 %
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 89,563
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the disposition of 89,563
(iv) Shared power to dispose or to direct the disposition of 0
The Homestead Bancorp, Inc. Employee Stock Ownership Plan Trust ("Trust")
was established pursuant to the Homestead Bancorp, Inc. Employee Stock
Ownership Plan ("ESOP"). Under the terms of the ESOP, the Trustees will
generally vote the allocated shares held in the ESOP in accordance with
the instructions of the participating employees and will generally vote,
unallocated shares held in the ESOP in the same proportion for and
against proposals to stockholders as the ESOP participants and
beneficiaries actually vote shares of Common Stock allocated to their
individual accounts, subject in each case to the fiduciary duties of the
ESOP Trustees and applicable law. Any allocated shares which either
abstain on the proposal or are not voted will be disregarded in
determining the percentage of stock voted for and against each proposal
by the participants and beneficiaries. The first allocation to
participants' accounts under the ESOP is being made effective as of
December 31, 1998, but the amount of such allocation has not been
finalized yet.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable since the reporting entity owns more than 5% of
the class.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Participants in the ESOP are entitled to receive dividends on, and
the proceeds from, the sale of the shares allocated to their
accounts. The ESOP does not own more than 5% on behalf of another
person.
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 since the reporting entity is not a member of a group.
Item 9. Notice of Dissolution of Group.
Not applicable since the reporting entity is not a member of a group.
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CUSIP NO. 437698 10 3 Page 5 of 5 Pages
Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in
the ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction
having that purpose 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.
HOMESTEAD BANCORP, INC.
EMPLOYEE STOCK OWNERSHIP PLAN TRUST
February 10, 1999 By: /s/ Lawrence C. Caldwell, Jr.
Lawrence C. Caldwell, Jr., Trustee
February 10, 1999 By: /s/ Dennis E. James
Dennis E. James, Trustee
February 10, 1999 By: /s/ Kelly Morse
Kelly Morse, Trustee
