<PAGE>
- ----------------------------------------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
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: Keystone Financial Inc.
---------------------------------------------
Address: 1315 11th Ave.
---------------------------------------------
P.O. Box 2450
---------------------------------------------
Altoona PA 16603-2450
---------------------------------------------
Form 13F File Number: 28-
-----------------
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: Bonnie E. Long
---------------------------------------------
Title: Trust Operations Officer
---------------------------------------------
Phone: (814) 944-1195
---------------------------------------------
Signature, Place, and Date of Signing:
Bonnie E. Long Altoona PA 16601 5/14/99
- ------------------------ ----------------------------- --------------
[Signature] [City, State] [Date]
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).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28-
------------------ ------------------------
[Repeat as necessary.]
- ----------------------------------------------------------------------
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers:
-------------------
Form 13F Information Table Entry Total:
-------------------
Form 13F Information Table Value Total: $
-------------------
(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
28-
---- --------------------- ----------------------
[Repeat as necessary.]
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 5H MID-STATE BANK & TRUST SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 1
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ADM TRONICS UNLIMITED INC 001004100 10 20,000 SH X X 20,000
AMR CORP DEL 001765106 378 6,460 SH X 6,460
AMR CORP DEL 001765106 47 800 SH X X 400 400
A T & T CORP 001957109 1,038 13,005 SH X 12,905 100
A T & T CORP 001957109 1,503 18,828 SH X X 14,986 3,842
AT & T CORP - LIBERTY MEDIA GROUP A 001957208 15 286 SH X 286
AT & T CORP - LIBERTY MEDIA GROUP A 001957208 1,419 26,984 SH X X 26,984
AT & T CORP - LIBERTY MEDIA GROUP B 001957307 363 6,760 SH X X 6,760
ABBOTT LABORATORIES 002824100 1,032 22,050 SH X 22,050
AIR PRODUCTS & CHEMICALS INC 009158106 541 15,800 SH X 15,800
AIRTOUCH COMMUNICATIONS INC 00949T100 333 3,447 SH X 3,447
AIRTOUCH COMMUNICATIONS INC 00949T100 171 1,772 SH X X 1,000 772
AMERICA ONLINE INC 02364J104 17 112 SH X 112
AMERICA ONLINE INC 02364J104 265 1,800 SH X X 1,800
AMERICAN EXPRESS 025816109 270 2,292 SH X 2,292
AMERICAN GENERAL CORP 026351106 247 3,500 SH X X 3,500
AMERICAN HOME PRODUCTS INC 026609107 352 5,400 SH X 5,400
AMERITECH CORP NEW 030954101 194 3,370 SH X 3,370
AMERITECH CORP NEW 030954101 577 10,016 SH X X 8,008 2,008
AMGEN INC 031162100 490 6,540 SH X 6,540
AMGEN INC 031162100 90 1,200 SH X X 800 400
ANHEUSER BUSCH COS INC 035229103 274 3,600 SH X 3,600
ATLANTIC RICHFIELD 048825103 396 5,416 SH X 5,416
ATLANTIC RICHFIELD 048825103 124 1,700 SH X X 1,000 700
BANKAMERICA CORP NEW 06605F102 943 13,358 SH X 13,358
----------
PAGE TOTAL 11,089
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 5H MID-STATE BANK & TRUST SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 2
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BELL ATLANTIC CORP 077853109 1,717 33,211 SH X 32,886 325
BELL ATLANTIC CORP 077853109 741 14,336 SH X X 9,934 4,402
BELLSOUTH CORP 079860102 371 9,262 SH X 9,262
BELLSOUTH CORP 079860102 489 12,216 SH X X 6,400 5,816
BRISTOL MYERS SQUIBB CO 110122108 1,002 15,630 SH X 15,630
BRISTOL MYERS SQUIBB CO 110122108 77 1,200 SH X X 1,200
C COR ELECTRONICS INC 125010108 38 2,200 SH X 2,200
C COR ELECTRONICS INC 125010108 1,139 66,000 SH X X 64,000 2,000
CSX CORP 126408103 309 7,944 SH X 7,944
CALLAWAY GOLF CO 131193104 107 10,500 SH X 10,500
CATERPILLAR INC 149123101 210 4,580 SH X 4,580
CATERPILLAR INC 149123101 55 1,200 SH X X 1,200
CENDANT CORP 151313103 134 8,410 SH X 8,410
CENDANT CORP 151313103 87 5,460 SH X X 5,460
CENTOCOR INC 152342101 388 10,500 SH X 10,500
CENTOCOR INC 152342101 85 2,300 SH X X 700 1,600
CHEVRON CORP 166751107 134 1,513 SH X 1,513
CHEVRON CORP 166751107 224 2,528 SH X X 2,288 240
CISCO SYSTEMS INC 17275R102 2,528 23,075 SH X 23,075
CISCO SYSTEMS INC 17275R102 438 4,000 SH X X 2,400 1,600
CITIGROUP INC 172967101 268 4,200 SH X 4,200
CITIGROUP INC 172967101 191 2,998 SH X X 2,998
COCA COLA 191216100 494 8,050 SH X 8,050
COCA COLA 191216100 270 4,392 SH X X 4,392
CONSOLIDATED EDISON INC 209115104 268 5,912 SH X 5,912
----------
PAGE TOTAL 11,764
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 5H MID-STATE BANK & TRUST SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 3
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CONSOLIDATED EDISON INC 209115104 27 600 SH X X 600
DISNEY WALT CO 254687106 160 5,125 SH X 5,125
DISNEY WALT CO 254687106 840 27,000 SH X X 24,000 3,000
DOW CHEMICAL 260543103 324 3,475 SH X 3,475
DOW CHEMICAL 260543103 140 1,500 SH X X 1,500
DUPONT E I DE NEMOURS & COMPANY 263534109 196 3,375 SH X 3,375
DUPONT E I DE NEMOURS & COMPANY 263534109 133 2,295 SH X X 1,800 495
EXXON CORP 302290101 463 6,560 SH X 6,560
EXXON CORP 302290101 1,514 21,450 SH X X 16,600 4,850
FPL GROUP INC 302571104 224 4,200 SH X 4,200
FANNIE MAE 313586109 2,382 34,400 SH X 34,400
FANNIE MAE 313586109 665 9,600 SH X X 4,700 4,900
FEDERATED #47 U.S. GOVERNMENT SEC 31428P103 218 20,321 SH X 20,321
(2-5 YRS) FUND
FIRST SENTINEL BANCORP INC 33640T103 120 15,056 SH X 15,056
FIRST UNION CORP N CAROLINA 337358105 171 3,198 SH X 3,198
FIRST UNION CORP N CAROLINA 337358105 39 725 SH X X 725
FORD MOTOR 345370100 347 6,117 SH X 6,117
FORD MOTOR 345370100 88 1,548 SH X X 600 948
GTE CORP 362320103 299 4,945 SH X 4,945
GTE CORP 362320103 184 3,040 SH X X 3,000 40
GENERAL ELECTRIC CO 369604103 4,136 37,384 SH X 37,384
GENERAL ELECTRIC CO 369604103 705 6,375 SH X X 3,400 2,975
GLIMCHER REALTY TRUST 379302102 171 11,904 SH X 11,904
GOVERNOR LIMITED DURATION 383757408 14,216 1,431,621 SH X 1,425,793 2,956 2,871
GOVERNMENT SECURITIES FUND
GOVERNOR LIMITED DURATION 383757408 615 61,949 SH X X 7,992 53,957
GOVERNMENT SECURITIES FUND
----------
PAGE TOTAL 28,377
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 5H MID-STATE BANK & TRUST SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 4
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GOVERNOR PENNSYLVANIA MUNICIPAL 383757507 31,694 3,062,177 SH X 3,062,177
BOND FUND
GOVERNOR PENNSYLVANIA MUNICIPAL 383757507 4,941 477,402 SH X X 467,057 10,344
BOND FUND
GOVERNOR INTERMEDIATE TERM INCOME 383757606 88,150 9,004,133 SH X 8,959,832 36,713 7,587
FUND
GOVERNOR INTERMEDIATE TERM INCOME 383757606 3,156 322,364 SH X X 63,860 233,869 24,633
FUND
HALLIBURTON CO 406216101 282 7,316 SH X 7,316
HALLIBURTON CO 406216101 13 350 SH X X 350
HEINZ H J CO 423074103 275 5,800 SH X 5,800
HERSHEY FOODS CORP 427866108 110 1,966 SH X 1,966
HERSHEY FOODS CORP 427866108 533 9,500 SH X X 9,000 500
INTEL CORP 458140100 4,241 35,675 SH X 35,675
INTEL CORP 458140100 380 3,200 SH X X 1,600 1,600
FEDERATED #78 INTERMEDIATE MUNI 458810108 766 71,741 SH X 71,741
FUND
INTERNATIONAL BUSINESS MACHINES 459200101 169 956 SH X 956
CORP
INTERNATIONAL BUSINESS MACHINES 459200101 35 200 SH X X 200
CORP
JOHNSON & JOHNSON 478160104 494 5,280 SH X 5,280
JOHNSON & JOHNSON 478160104 804 8,600 SH X X 6,500 2,100
KEYSTONE FINANCIAL INC 493482103 25,483 790,168 SH X 790,168
KEYSTONE FINANCIAL INC 493482103 1,434 44,455 SH X X 44,455
LILLY ELI & CO 532457108 212 2,500 SH X 2,500
LINEAR TECHNOLOGY CORP 535678106 513 10,000 SH X 10,000
LINEAR TECHNOLOGY CORP 535678106 62 1,200 SH X X 1,200
LUCENT TECHNOLOGIES INC 549463107 1,638 15,164 SH X 15,164
LUCENT TECHNOLOGIES INC 549463107 551 5,106 SH X X 2,142 2,964
MCI WORLDCOM INC 55268B106 681 7,689 SH X 7,689
MCI WORLDCOM INC 55268B106 44 500 SH X X 500
----------
PAGE TOTAL 166,661
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 5H MID-STATE BANK & TRUST SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 5
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MEDIAONE GROUP INC 58440J104 360 5,667 SH X 5,667
MEDIAONE GROUP INC 58440J104 353 5,560 SH X X 5,310 250
MERCK & COMPANY INC 589331107 1,780 22,216 SH X 22,216
MERCK & COMPANY INC 589331107 88 1,100 SH X X 800 300
MICROSOFT CORP 594918104 4,362 48,666 SH X 48,666
MICROSOFT CORP 594918104 314 3,500 SH X X 1,600 1,900
MINNESOTA MINING & MANUFACTURING 604059105 192 2,707 SH X 2,707
CO
MINNESOTA MINING & MANUFACTURING 604059105 11 150 SH X X 150
CO
MOBIL CORP 607059102 610 6,930 SH X 6,930
MOBIL CORP 607059102 396 4,500 SH X X 2,400 2,100
MONSANTO CO 611662107 772 16,800 SH X 16,800
MONSANTO CO 611662107 230 5,000 SH X X 4,400 600
MOTOROLA INC 620076109 450 6,150 SH X 6,150
MOTOROLA INC 620076109 15 200 SH X X 200
FEDERATED #311 PA MUNI INCOME FD A 625922505 225 19,032 SH X 19,032
NOSTALGIA NETWORK INC NEW 669752305 1 10,000 SH X X 10,000
OMEGA FINANCIAL CORP 682092101 230 6,908 SH X 6,908
OMEGA FINANCIAL CORP 682092101 605 18,183 SH X X 12,000 6,183
P P & L RESOURCES INC 693499105 441 17,837 SH X 17,637 200
P P & L RESOURCES INC 693499105 69 2,800 SH X X 1,200 1,600
PPG INDUSTRIES INC 693506107 559 10,915 SH X 10,915
PPG INDUSTRIES INC 693506107 12 225 SH X X 225
PEPSICO INC 713448108 974 24,850 SH X 24,850
PEPSICO INC 713448108 82 2,100 SH X X 1,000 1,100
PHARMACIA & UPJOHN INC 716941109 321 5,150 SH X 5,150
----------
PAGE TOTAL 13,452
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 5H MID-STATE BANK & TRUST SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 6
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PFIZER INC 717081103 173 1,250 SH X 1,250
PFIZER INC 717081103 35 250 SH X X 250
PHILIP MORRIS COMPANIES INC 718154107 961 27,320 SH X 27,320
PHILIP MORRIS COMPANIES INC 718154107 67 1,900 SH X X 1,000 900
PITNEY BOWES 724479100 242 3,800 SH X 3,800
PROCTER & GAMBLE CO 742718109 152 1,550 SH X 1,550
PROCTER & GAMBLE CO 742718109 157 1,600 SH X X 1,600
SBC COMMUNICATIONS INC 78387G103 1,017 21,550 SH X 21,550
SBC COMMUNICATIONS INC 78387G103 767 16,244 SH X X 10,124 6,120
SCHWAB CHARLES CORP NEW 808513105 1,485 15,450 SH X 15,450
SPRINT CORP 852061100 334 3,400 SH X 3,400
SPRINT CORP 852061100 69 700 SH X X 700
STRYKER CORP 863667101 229 4,550 SH X 4,550
SUN MICROSYSTEMS INC 866810104 253 2,025 SH X 2,025
SUN MICROSYSTEMS INC 866810104 28 225 SH X X 225
SYNCOR INTERNATIONAL CORP 87157J106 254 9,100 SH X 9,100
TEXACO INC 881694103 508 8,952 SH X 8,952
TEXACO INC 881694103 102 1,800 SH X X 800 1,000
TEXAS INSTRUMENTS INC 882508104 407 4,100 SH X 4,100
TRICON GLOBAL RESTAURANTS INC 895953107 316 4,500 SH X 4,500
TRICON GLOBAL RESTAURANTS INC 895953107 14 200 SH X X 100 100
US WEST INC NEW 91273H101 593 10,769 SH X 10,769
US WEST INC NEW 91273H101 349 6,337 SH X X 5,453 884
UNITED TECHNOLOGIES CORP 913017109 267 1,968 SH X 1,968
WAL MART STORES INC 931142103 830 9,000 SH X 9,000
----------
PAGE TOTAL 9,609
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 5H MID-STATE BANK & TRUST SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 7
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
WARNER LAMBERT CO 934488107 386 5,830 SH X 5,830
WARNER LAMBERT CO 934488107 20 300 SH X X 300
----------
PAGE TOTAL 406
FINAL TOTALS 241,358
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 51 NORTHERN CENTRAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 1
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ACM GOVERNMENT SPECTRUM FUND 000917104 82 13,500 SH X X 13,500
A T & T CORP 001957109 424 5,310 SH X 4,310 1,000
A T & T CORP 001957109 108 1,357 SH X X 1,114 243
AMERITECH CORP NEW 030954101 479 8,314 SH X 7,914 400
AMERITECH CORP NEW 030954101 113 1,968 SH X X 848 1,120
BELL ATLANTIC CORP 077853109 788 15,238 SH X 12,213 3,025
BELL ATLANTIC CORP 077853109 174 3,370 SH X X 2,890 480
BELLSOUTH CORP 079860102 231 5,776 SH X 5,776
BELLSOUTH CORP 079860102 107 2,676 SH X X 1,276 1,400
CAMPBELL SOUP CO 134429109 406 9,980 SH X 9,305 675
CAMPBELL SOUP CO 134429109 41 1,000 SH X X 1,000
CISCO SYSTEMS INC 17275R102 292 2,665 SH X 2,565 100
CISCO SYSTEMS INC 17275R102 22 200 SH X X 200
CITIZENS & NORTHERN CORP 172922106 356 10,709 SH X 10,709
COMPAQ COMPUTER CORP 204493100 428 13,520 SH X 12,495 1,025
COMPAQ COMPUTER CORP 204493100 22 700 SH X X 700
COMPUDATA SERVICES INC, COMMON 2309615Y6 0 11,778 SH X X 11,778
COMPUDATA HEALTH CORP 2309617Y4 0 39,000 SH X X 39,000
DANA CORP 235811106 258 6,791 SH X 6,213 578
DANA CORP 235811106 19 500 SH X X 500
DUPONT E I DE NEMOURS & COMPANY 263534109 389 6,692 SH X 6,467 225
DUPONT E I DE NEMOURS & COMPANY 263534109 27 470 SH X X 470
EXXON CORP 302290101 472 6,691 SH X 6,666 25
FANNIE MAE 313586109 315 4,550 SH X 4,100 450
FANNIE MAE 313586109 28 400 SH X X 400
----------
PAGE TOTAL 5,581
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 51 NORTHERN CENTRAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 2
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
FIDELITY #037 SPARTAN MUNICIPAL 316089507 214 16,805 SH X 16,805
INCOME FUND
FIRST UNION CORP N CAROLINA 337358105 966 18,070 SH X 18,020 50
FIRST UNION CORP N CAROLINA 337358105 206 3,857 SH X X 262 3,595
FLEET FINANCIAL GROUP INC NEW 338915101 249 6,625 SH X 5,700 925
FLEET FINANCIAL GROUP INC NEW 338915101 151 4,026 SH X X 4,026
FULTON FINANCIAL INC 360271100 428 18,661 SH X 18,661
GTE CORP 362320103 367 6,067 SH X 5,767 300
GTE CORP 362320103 48 800 SH X X 800
GAP INC 364760108 310 4,604 SH X 4,154 450
GAP INC 364760108 54 800 SH X X 800
GENERAL ELECTRIC CO 369604103 3,836 34,680 SH X 34,480 200
GENERAL ELECTRIC CO 369604103 1,604 14,500 SH X X 8,000 6,500
GOVERNOR LIMITED DURATION 383757408 13,672 1,376,835 SH X 1,367,015 2,860 6,959
GOVERNMENT SECURITIES FUND
GOVERNOR LIMITED DURATION 383757408 252 25,407 SH X X 2,709 21,198 1,500
GOVERNMENT SECURITIES FUND
GOVERNOR PENNSYLVANIA MUNICIPAL 383757507 30,655 2,961,790 SH X 2,902,447 59,343
BOND FUND
GOVERNOR PENNSYLVANIA MUNICIPAL 383757507 8,451 816,514 SH X X 61,081 755,433
BOND FUND
GOVERNOR INTERMEDIATE TERM INCOME 383757606 62,571 6,391,295 SH X 6,294,847 16,517 79,931
FUND
GOVERNOR INTERMEDIATE TERM INCOME 383757606 1,592 162,613 SH X X 7,282 148,803 6,527
FUND
HALLIBURTON CO 406216101 401 10,416 SH X 9,366 1,050
HALLIBURTON CO 406216101 77 2,000 SH X X 2,000
INGERSOLL RAND CO 456866102 503 10,136 SH X 10,136
INTEL CORP 458140100 242 2,035 SH X 1,985 50
INTEL CORP 458140100 24 200 SH X X 200
INTERNATIONAL BUSINESS MACHINES 459200101 642 3,620 SH X 3,620
CORP
INTERNATIONAL BUSINESS MACHINES 459200101 213 1,200 SH X X 1,200
CORP
----------
PAGE TOTAL 127,728
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 51 NORTHERN CENTRAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 3
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INTERNATIONAL PAPER CO 460146103 803 19,037 SH X 19,037
JOHNSON & JOHNSON 478160104 282 3,020 SH X 2,800 220
JOHNSON & JOHNSON 478160104 65 700 SH X X 700
KEYSTONE FINANCIAL INC 493482103 3,025 93,800 SH X 41,611 52,189
KEYSTONE FINANCIAL INC 493482103 2,265 70,232 SH X X 54,171 16,061
LOWE'S COMPANIES INC 548661107 333 5,500 SH X 4,900 600
LOWE'S COMPANIES INC 548661107 48 800 SH X X 800
LUCENT TECHNOLOGIES INC 549463107 564 5,218 SH X 5,193 25
LUCENT TECHNOLOGIES INC 549463107 122 1,128 SH X X 1,060 68
MERCK & COMPANY INC 589331107 721 9,000 SH X 9,000
MERCK & COMPANY INC 589331107 48 600 SH X X 600
MICROSOFT CORP 594918104 406 4,530 SH X 4,480 50
MICROSOFT CORP 594918104 18 200 SH X X 200
MOBIL CORP 607059102 850 9,654 SH X 9,454 200
MOBIL CORP 607059102 308 3,500 SH X X 2,400 1,100
MORGAN STANLEY DEAN WITTER & CO 617446448 548 5,487 SH X 4,887 600
MORGAN STANLEY DEAN WITTER & CO 617446448 40 400 SH X X 400
MORTON INTERNATIONAL INC NEW 619335102 274 7,455 SH X 6,930 525
MORTON INTERNATIONAL INC NEW 619335102 13 350 SH X X 350
MOTOROLA INC 620076109 327 4,470 SH X 3,970 500
MOTOROLA INC 620076109 37 500 SH X X 500
MUNIYIELD PA FD 62630V109 347 21,862 SH X X 21,862
NUVEEN PA PREMIUM INCOME MUNICIPAL 67061F101 6 420 SH X 420
FUND 2
NUVEEN PA PREMIUM INCOME MUNICIPAL 67061F101 284 20,000 SH X X 20,000
FUND 2
OMEGA FINANCIAL CORP 682092101 249 7,500 SH X X 7,500
----------
PAGE TOTAL 11,983
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 51 NORTHERN CENTRAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 4
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
P P & L RESOURCES INC 693499105 293 11,826 SH X 10,483 1,343
P P & L RESOURCES INC 693499105 57 2,300 SH X X 800 1,500
PPG INDUSTRIES INC 693506107 292 5,688 SH X 5,463 225
PPG INDUSTRIES INC 693506107 10 200 SH X X 200
PENNS WOODS BANCORP., INC. 708430103 293 4,962 SH X 4,962
PEPSICO INC 713448108 328 8,375 SH X 7,525 850
PEPSICO INC 713448108 20 500 SH X X 500
PFIZER INC 717081103 586 4,220 SH X 3,850 370
PFIZER INC 717081103 42 300 SH X X 300
PROSPERITY DEVELOPMENT COMPANY 7213760Y8 194 5 SH X 5
PROSPERITY DEVELOPMENT COMPANY 7213760Y8 705 19 SH X X 19
PROCTER & GAMBLE CO 742718109 457 4,666 SH X 4,266 400
PROCTER & GAMBLE CO 742718109 98 1,000 SH X X 1,000
ROWLAND LAND COMPANY, LTD 779665405 2,179 2,758 SH X 2,758
LIMITED PARTNERSHIP
SBC COMMUNICATIONS INC 78387G103 280 5,943 SH X 5,788 155
SBC COMMUNICATIONS INC 78387G103 60 1,266 SH X X 1,266
SEI DAILY INCOME TRUST INTERMEDIATE 783965742 159 15,790 SH X 15,790
DURATION GOVT FUND
SUN BANCORP INC 866634108 120 4,809 SH X 2,436 2,373
SUN BANCORP INC 866634108 175 7,019 SH X X 7,019
SUN MICROSYSTEMS INC 866810104 642 5,130 SH X 5,000 130
SUN MICROSYSTEMS INC 866810104 38 300 SH X X 300
US BANCORP DEL 902973106 107 3,150 SH X 2,550 600
US BANCORP DEL 902973106 417 12,249 SH X X 3,249 9,000
U S FILTER CORP 911843209 1,568 51,197 SH X 51,197
VALLEY NATIONAL BANCORP 919794107 896 35,566 SH X 35,566
----------
PAGE TOTAL 10,016
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 51 NORTHERN CENTRAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 5
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
VANGUARD #77 PA TAX-FREE INSD LONG 92204L104 598 52,796 SH X 52,796
TERM PORTFOLIO
VANGUARD #43 MUNICIPAL BOND FUND 922907308 233 20,798 SH X 20,798
LONG TERM PORTFOLIO
WARNER LAMBERT CO 934488107 496 7,490 SH X 7,390 100
WARNER LAMBERT CO 934488107 33 500 SH X X 500
----------
PAGE TOTAL 1,360
FINAL TOTALS 156,668
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 52 PENNSYLVANIA NATIONAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 1
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AFLAC CORP 001055102 490 9,000 SH X 9,000
A T & T CORP 001957109 1,190 14,904 SH X 14,904
A T & T CORP 001957109 288 3,604 SH X X 3,604
ABBOTT LABORATORIES 002824100 2,490 53,200 SH X 53,200
ABBOTT LABORATORIES 002824100 524 11,200 SH X X 11,200
AIR PRODUCTS & CHEMICALS INC 009158106 755 22,040 SH X 22,040
AMERICAN GENERAL CORP 026351106 245 3,473 SH X 3,473
AMERICAN HOME PRODUCTS INC 026609107 1,511 23,160 SH X 23,160
AMERICAN HOME PRODUCTS INC 026609107 467 7,160 SH X X 4,800 2,360
AMERITECH CORP NEW 030954101 528 9,166 SH X 9,166
AMERITECH CORP NEW 030954101 49 850 SH X X 850
ANHEUSER BUSCH COS INC 035229103 305 4,000 SH X 4,000
ATLANTIC RICHFIELD 048825103 697 9,538 SH X 9,538
ATLANTIC RICHFIELD 048825103 117 1,600 SH X X 1,600
BELL ATLANTIC CORP 077853109 1,047 20,248 SH X 20,248
BELL ATLANTIC CORP 077853109 142 2,750 SH X X 1,216 1,534
BELLSOUTH CORP 079860102 856 21,364 SH X 21,364
BELLSOUTH CORP 079860102 218 5,435 SH X X 2,340 3,095
BESTFOODS 08658U101 524 11,150 SH X 11,150
BESTFOODS 08658U101 19 400 SH X X 400
BRISTOL MYERS SQUIBB CO 110122108 816 12,728 SH X 12,728
BRISTOL MYERS SQUIBB CO 110122108 90 1,400 SH X X 1,400
CHEVRON CORP 166751107 760 8,568 SH X 8,568
CHEVRON CORP 166751107 182 2,056 SH X X 2,056
CISCO SYSTEMS INC 17275R102 649 5,925 SH X 5,925
----------
PAGE TOTAL 14,959
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 52 PENNSYLVANIA NATIONAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 2
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CITIGROUP INC 172967101 298 4,664 SH X 4,664
CITIGROUP INC 172967101 80 1,250 SH X X 1,250
COCA COLA 191216100 344 5,600 SH X 5,600
COCA COLA 191216100 4 65 SH X X 65
COLGATE-PALMOLIVE CO 194162103 291 3,158 SH X 3,158
COMMUNITY BKS INC MILLERSBURG PA 203628102 471 19,884 SH X 19,884
COMPAQ COMPUTER CORP 204493100 721 22,750 SH X 22,750
COMPAQ COMPUTER CORP 204493100 119 3,750 SH X X 3,750
COMPUTER NETWORK TECHNOLOGY CORP 204925101 323 20,000 SH X 20,000
BIOWORKS INC SERIES B 2307857Y7 50 20,000 SH X 20,000
CONV PFD
DANAHER CORP 235851102 219 4,200 SH X 4,200
DEERE & CO 244199105 232 6,000 SH X 6,000
DEERE & CO 244199105 8 200 SH X X 200
DISNEY WALT CO 254687106 229 7,349 SH X 7,349
DOVER CORP 260003108 322 9,800 SH X 9,800
DOVER CORP 260003108 302 9,200 SH X X 9,200
DOW CHEMICAL 260543103 336 3,605 SH X 3,605
DUPONT E I DE NEMOURS & COMPANY 263534109 619 10,659 SH X 10,659
EASTMAN KODAK CO 277461109 215 3,362 SH X 3,362
EMERSON ELECTRIC 291011104 298 5,630 SH X 5,630
EXXON CORP 302290101 2,927 41,475 SH X 41,475
EXXON CORP 302290101 148 2,100 SH X X 2,100
FIRST LEESPORT BANCORP 320682107 722 33,600 SH X 33,600
FIRST UNION CORP N CAROLINA 337358105 3,382 63,294 SH X 63,294
FIRST UNION CORP N CAROLINA 337358105 95 1,779 SH X X 969 810
----------
PAGE TOTAL 12,755
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 52 PENNSYLVANIA NATIONAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 3
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
FRONTIER CORP 35906P105 18 350 SH X 350
FRONTIER CORP 35906P105 830 16,000 SH X X 16,000
FULTON FINANCIAL INC 360271100 254 11,067 SH X 11,067
FULTON FINANCIAL INC 360271100 533 23,221 SH X X 23,221
GTE CORP 362320103 501 8,281 SH X 8,281
GTE CORP 362320103 47 770 SH X X 770
GENERAL ELECTRIC CO 369604103 4,822 43,590 SH X 43,590
GENERAL ELECTRIC CO 369604103 830 7,500 SH X X 7,500
GENERAL MILLS INC 370334104 209 2,772 SH X 2,772
GENERAL MOTORS CORP 370442105 212 2,440 SH X 2,440
GENERAL MOTORS CORP 370442105 94 1,076 SH X X 1,076
GENESIS HEALTH VENTURES INC 371912106 181 37,100 SH X 37,100
GILLETTE CO 375766102 717 12,066 SH X 12,066
GILLETTE CO 375766102 304 5,120 SH X X 5,120
GOVERNOR LIMITED DURATION 383757408 8,446 850,521 SH X 850,521
GOVERNMENT SECURITIES FUND
GOVERNOR LIMITED DURATION 383757408 112 11,274 SH X X 11,274
GOVERNMENT SECURITIES FUND
GOVERNOR PENNSYLVANIA MUNICIPAL 383757507 30,649 2,961,287 SH X 2,961,287
BOND FUND
GOVERNOR PENNSYLVANIA MUNICIPAL 383757507 1,346 130,009 SH X X 130,009
BOND FUND
GOVERNOR INTERMEDIATE TERM INCOME 383757606 76,178 7,781,164 SH X 7,781,164
FUND
GOVERNOR INTERMEDIATE TERM INCOME 383757606 1,141 116,562 SH X X 116,562
FUND
HARTFORD FINANCIAL SERVICES GROUP 416515104 215 3,776 SH X 3,776
INC
HARTFORD FINANCIAL SERVICES GROUP 416515104 57 1,006 SH X X 1,006
INC
HEINZ H J CO 423074103 1,604 33,862 SH X 33,862
HEINZ H J CO 423074103 287 6,050 SH X X 6,050
HERSHEY FOODS CORP 427866108 840 14,978 SH X 14,978
----------
PAGE TOTAL 130,427
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 52 PENNSYLVANIA NATIONAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 4
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
HERSHEY FOODS CORP 427866108 263 4,700 SH X X 4,700
HUTCHINSON TECHNOLOGY INC 448407106 259 10,400 SH X 10,400
INTEL CORP 458140100 1,827 15,367 SH X 15,367
INTEL CORP 458140100 95 800 SH X X 800
INTERNATIONAL BUSINESS MACHINES 459200101 264 1,488 SH X 1,488
CORP
JOHNSON & JOHNSON 478160104 905 9,679 SH X 9,679
JOHNSON & JOHNSON 478160104 19 200 SH X X 200
KEYSTONE FINANCIAL INC 493482103 17,538 543,818 SH X 543,818
KEYSTONE FINANCIAL INC 493482103 631 19,551 SH X X 19,551
LUCENT TECHNOLOGIES INC 549463107 999 9,254 SH X 9,254
LUCENT TECHNOLOGIES INC 549463107 251 2,326 SH X X 2,326
MCI WORLDCOM INC 55268B106 620 7,003 SH X 7,003
MCI WORLDCOM INC 55268B106 66 746 SH X X 746
MAIN STREET BANCORP INC 559906102 283 17,732 SH X 17,732
MCDONALDS CORP 580135101 608 13,420 SH X 13,420
MCDONALDS CORP 580135101 104 2,300 SH X X 2,300
MEDTRONIC INC 585055106 223 3,100 SH X 3,100
MERCHANTS OF SHENANDOAH BAN CORP 589224104 217 7,350 SH X 7,350
MERCK & COMPANY INC 589331107 5,036 62,846 SH X 62,846
MERCK & COMPANY INC 589331107 833 10,400 SH X X 10,400
MICROSOFT CORP 594918104 716 7,984 SH X 7,984
MOBIL CORP 607059102 900 10,231 SH X 10,231
MOBIL CORP 607059102 177 2,014 SH X X 1,564 450
MORGAN J P & CO INC 616880100 202 1,640 SH X 1,640
MORGAN J P & CO INC 616880100 12 100 SH X X 100
----------
PAGE TOTAL 33,048
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 52 PENNSYLVANIA NATIONAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 5
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MOTOROLA INC 620076109 482 6,579 SH X 6,579
FEDERATED #311 PA MUNI INCOME FD A 625922505 320 27,112 SH X 27,112
MUTUAL CONSUMER DISCOUNT CO 628247892 15 13,780 SH X 13,780
CLASS A
P P & L RESOURCES INC 693499105 1,015 41,018 SH X 41,018
P P & L RESOURCES INC 693499105 56 2,275 SH X X 2,275
PPG INDUSTRIES INC 693506107 195 3,800 SH X 3,800
PPG INDUSTRIES INC 693506107 41 800 SH X X 800
PEPSICO INC 713448108 412 10,515 SH X 10,515
PFIZER INC 717081103 902 6,502 SH X 6,502
PHILIP MORRIS COMPANIES INC 718154107 206 5,847 SH X 5,847
PHILIP MORRIS COMPANIES INC 718154107 7 200 SH X X 200
PHILLIPS PETROLEUM CO 718507106 389 8,224 SH X 8,224
PROCTER & GAMBLE CO 742718109 794 8,112 SH X 8,112
RAYTHEON CO CL B 755111408 193 3,300 SH X 3,300
RAYTHEON CO CL B 755111408 12 200 SH X X 200
SBC COMMUNICATIONS INC 78387G103 603 12,783 SH X 12,783
SBC COMMUNICATIONS INC 78387G103 46 964 SH X X 964
SARA LEE CORP 803111103 322 13,028 SH X 13,028
SARA LEE CORP 803111103 54 2,200 SH X X 2,200
SCHERING-PLOUGH CORP 806605101 1,293 23,400 SH X 23,400
SCHERING-PLOUGH CORP 806605101 221 4,000 SH X X 4,000
SCHLUMBERGER LTD 806857108 382 6,350 SH X 6,350
SCHLUMBERGER LTD 806857108 12 200 SH X X 200
SPRINT CORP 852061100 432 4,400 SH X 4,400
SUN MICROSYSTEMS INC 866810104 1,376 11,000 SH X 11,000
----------
PAGE TOTAL 9,780
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR289 52 PENNSYLVANIA NATIONAL BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 05/04/99 PAGE 6
AS OF 03/31/99
- - - - - COLUMN 1 AND 2 - - - - - - COLUMN 3 - COLUMN 4 - - -COLUMN 5 - - - - COLUMN 6- - COLUMN 7- - - - - - COLUMN 8- - - - -
INVESTMENT
MARKET DISCRETION VOTING AUTHORITY
VALUE SHS OR SH/ PUT/ SOLE SHR OTHER SOLE SHARED NONE
ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TEXTRON INC 883203101 310 4,000 SH X 4,000
TIME WARNER INC 887315109 344 4,860 SH X 4,860
UNIFI INC 904677101 258 20,264 SH X 20,264
UNION PACIFIC CORP 907818108 1,076 20,140 SH X 20,140
UNION PACIFIC CORP 907818108 75 1,400 SH X X 200 1,200
UNION PACIFIC RESOURCES GROUP 907834105 129 10,838 SH X 10,838
WAL MART STORES INC 931142103 161 1,750 SH X 1,750
WAL MART STORES INC 931142103 74 800 SH X X 800
WARNER LAMBERT CO 934488107 398 6,000 SH X 6,000
WILLIAMS COMPANIES INC 969457100 219 5,534 SH X 5,534
WILLIAMS COMPANIES INC 969457100 40 1,000 SH X X 1,000
----------
PAGE TOTAL 3,084
FINAL TOTALS 204,053
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR285 57 AMERICAN TRUST BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 03/31/99 PAGE 1
- - - - - - - 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 (THOUSANDS) PRINCIPAL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A T & T CORP 001957109 829 10,384 X 10,184 200
AIRTOUCH COMMUNICATIONS INC 00949T100 304 3,149 X 3,149
AMERICAN HOME PRODUCTS INC 026609107 784 12,014 X 12,014
AMERICAN HOME PRODUCTS INC 026609107 261 4,000 X X 4,000
AMERITECH CORP NEW 030954101 246 4,268 X 4,268
BALTIMORE GAS & ELECTRIC 059165100 227 8,950 X 8,950
BELL ATLANTIC CORP 077853109 417 8,076 X 7,976 100
BELLSOUTH CORP 079860102 479 11,950 X 11,950
CIGNA CORP 125509109 238 2,844 X X 2,844
CISCO SYSTEMS INC 17275R102 311 2,838 X 2,838
CITIGROUP INC 172967101 312 4,880 X 4,880
CITIGROUP INC 172967101 188 2,947 X X 2,947
COCA COLA 191216100 146 2,377 X 2,377
COCA COLA 191216100 1,396 22,752 X X 22,752
STEINER & STEINER GENERAL 2307706Y0 250 1 X 1
PARTNERSHIP
DELL COMPUTER CORP 247025109 289 7,080 X 7,080
DUPONT E I DE NEMOURS & COMPANY 263534109 247 4,260 X 4,260
EMC CORP MASS 268648102 206 1,610 X 1,610
EQUITY INV FUND UNIT SELECT 10 PORT 294710611 31 32,654 X 32,654
1998 SER 2
EXXON CORP 302290101 558 7,901 X 6,653 1,248
EXXON CORP 302290101 250 3,536 X X 3,536
FEDERATED U.S. GOVERNMENT SEC 31428P103 295 27,452 X 27,452
(2-5 YRS) FUND #47
FIRST UNION CORP N CAROLINA 337358105 446 8,350 X 8,350
FIRST UNITED CORP 33741H107 215 13,259 X 13,259
FIRST UNITED CORP 33741H107 109 6,685 X X 4,635 2,050
----------
COLUMN TOTALS 9,034
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR285 57 AMERICAN TRUST BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 03/31/99 PAGE 2
- - - - - - - 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 (THOUSANDS) PRINCIPAL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GENERAL ELECTRIC CO 369604103 274 2,476 X 2,476
GENERAL ELECTRIC CO 369604103 900 8,136 X X 5,736 2,400
GOVERNOR LIMITED DURATION 383757408 4,462 449,325 X 447,822 1,503
GOVERNMENT SECURITIES FUND
GOVERNOR LIMITED DURATION 383757408 10 1,045 X X 602 443
GOVERNMENT SECURITIES FUND
GOVERNOR PENNSYLVANIA MUNICIPAL 383757507 165 15,979 X 15,979
BOND FUND
GOVERNOR INTERMEDIATE TERM INCOME 383757606 17,053 1,741,828 X 1,738,404 3,424
FUND
GOVERNOR INTERMEDIATE TERM INCOME 383757606 123 12,568 X X 607 11,961
FUND
INTEL CORP 458140100 234 1,965 X 1,965
INTERNATIONAL BUSINESS MACHINES 459200101 46 260 X 260
CORP
INTERNATIONAL BUSINESS MACHINES 459200101 539 3,040 X X 3,040
CORP
KEYSTONE FINANCIAL INC 493482103 6,008 186,307 X 15,802 170,505
KEYSTONE FINANCIAL INC 493482103 49 1,506 X X 1,506
LOCKHEED MARTIN CORP 539830109 603 15,966 X 15,966
LOCKHEED MARTIN CORP 539830109 45 1,200 X X 1,200
LUCENT TECHNOLOGIES INC 549463107 1,067 9,878 X 9,450 428
MERCK & COMPANY INC 589331107 475 5,928 X 5,328 600
MICROSOFT CORP 594918104 391 4,360 X 4,360
MOBIL CORP 607059102 370 4,200 X 4,200
MOBIL CORP 607059102 35 400 X X 400
MORGAN J P & CO INC 616880100 359 2,910 X 2,910
MORGAN J P & CO INC 616880100 88 710 X X 710
PHILIP MORRIS COMPANIES INC 718154107 399 11,330 X 10,880 450
T ROWE PRICE MARYLAND TAX FREE 77957R101 442 41,501 X 41,501
BOND FUND
T ROWE PRICE MARYLAND TAX FREE 77957R101 11 1,009 X X 1,009
BOND FUND
T ROWE PRICE SHORT TERM TAX FREE 77957R606 140 27,124 X 27,124
BOND FUND
----------
COLUMN TOTALS 34,288
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
REPORT PTR285 57 AMERICAN TRUST BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F 03/31/99 PAGE 3
- - - - - - - 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 (THOUSANDS) PRINCIPAL (A) (B) (C) MANAGERS (A) (B) (C)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
T ROWE PRICE SHORT TERM TAX FREE 77957R606 11 2,083 X X 968 1,115
BOND FUND
SBC COMMUNICATIONS INC 78387G103 422 8,936 X 8,936
TEXACO INC 881694103 409 7,207 X 7,207
WILLIAMS COMPANIES INC 969457100 723 18,294 X 18,294
WILLIAMS COMPANIES INC 969457100 119 3,000 X X 1,800 1,200
XEROX CORP 984121103 1,538 29,505 X 29,505
----------
COLUMN TOTALS 3,222
FINAL TOTALS 46,544
</TABLE>