UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1998
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: LORAIN NATIONAL BANK
Trust & Investment Management Department
Address: 457 Broadway
Lorain Ohio 44052
13F File Number:
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
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: Gerald S. Falcon
Title: Vice President, Operations
Phone: 440-244-7263
Signature, Place, and Date of Signing:
Gerald S. Falcon Lorain, Ohio 05/10/99
_______________________ ______________________ __________
(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 not entries in this list, omit this section.]
Form 13F File Number Name
28-
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[Repeat as necessary.]
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: None
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Form 13F Information Table Entry Total: 87
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Form 13F Information Table Value Total: $161,225
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(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
NONE
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(Repeat as necessary.)
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REPORT PTR289 1N LORAIN NATIONAL BANK SECURITIES AND EXCHANGE
COMMISSION FORM 13-F 05/24/99 PAGE 1
AS OF 12/31/98
- - - - - - 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>
A T & T CORP 001957109 3,441 45,423 SH
X 23,070 100 22,253
ABBOTT LABORATORIES 002824100 1,507 30,755 SH
X 16,396 14,359
AMERICAN HOME PRODUCTS CORPORATION 026609107 2,701 47,905 SH
X 33,813 14,092
AMERICAN INTERNATIONAL GROUP INC 026874107 1,534 15,880 SH
X 8,678 7,202
AMERITECH CORPORATION 030954101 1,415 22,320 SH
X 14,996 300 7,024
AMOCO CORP 031905102 683 11,412 SH
X 8,900 2,512
FORMERLY STANDARD OIL CO OF IND.
ATLANTIC RICHFIELD COMPANY 048825103 1,436 21,966 SH
X 16,716 5,250
BMC SOFTWARE INC 055921100 1,852 41,550 SH
X 17,658 600 23,292
BANK ONE CORPORATION 06423A103 858 16,799 SH
X 16,799
BANKAMERICA CORP 06605F102 207 3,441 SH
X 1,145 2,296
BELL ATLANTIC CORPORATION 077853109 1,082 20,034 SH
X 13,962 6,072
BELLSOUTH CORPORATION 079860102 2,387 47,850 SH
X 32,166 400 15,284
BESTFOODS 08658U101 1,311 24,629 SH
X 11,258 400 12,971
BRISTOL MYERS SQUIBB CO. 110122108 4,476 33,447 SH
X 22,652 350 10,445
CHEVRON CORP 166751107 1,567 18,888 SH
X 11,006 200 7,682
CISCO SYS INC 17275R102 3,635 39,162 SH
X 15,000 900 23,262
COCA COLA COMPANY 191216100 1,830 27,311 SH
X 14,643 400 12,268
WALT DISNEY COMPANY COMMON 254687106 346 11,535 SH
X 5,040 6,495
FORMERLY WALT DISNEY PRODUCTIONS
E I DU PONT DE NEMOURS & COMPANY 263534109 351 6,619 SH
X 5,204 1,415
DUKE ENERGY CORP 264399106 256 4,000 SH
X 2,900 1,100
EMERSON ELECTRIC COMPANY 291011104 1,389 22,966 SH
X 11,514 200 11,252
ENRON CORP 293561106 407 7,124 SH
X 6,848 276
EXXON CORPORATION 302290101 5,437 74,347 SH
X 55,707 600 18,040
FEDERAL NATL MTG ASSN 313586109 2,598 35,102 SH
X 19,100 16,002
FEDERATED GNMA BOND FUND 314184102 3,852 338,758 SH
X 209,627 3,881 125,250
FEDERATED INCOME TRUST 314199100 143 13,716 SH
X 6,595 4,228 2,892
FEDERATED U S GOVERNMENT SECURITIES 31428M100 476 45,185 SH
X 35,686 3,435 6,064
1 TO 3 YR INSTRUMENTS
FEDERATED U S GOVERNMENT SECURITIES 31428P103 510 46,745 SH
X 39,189 3,957 3,598
2 TO 5 YR INSTRUMENTS
FIFTH THIRD BANCORP 316773100 1,186 16,635 SH
X 9,936 6,699
FIRSTMERIT CORP 337915102 1,351 50,273 SH
X 42,898 7,375
FLEET FINANCIAL GROUP, INC 338915101 473 10,576 SH
X 10,576
FORD MOTOR COMPANY 345370100 547 9,320 SH
X 9,320
GTE CORPORATION 362320103 252 3,872 SH
X 3,872
GENERAL ELECTRIC COMPANY 369604103 7,085 69,458 SH
X 50,140 600 18,718
GILLETTE COMPANY 375766102 850 17,770 SH
X 8,370 400 9,000
HARTFORD LIFE INC 416592103 221 3,800 SH
X 100 3,700
CL A
HEALTH MGMT ASSOC INC CLASS A 421933102 681 31,509 SH
X 12,474 19,035
H J HEINZ COMPANY 423074103 878 15,501 SH
X 13,900 1,601
HERSHEY FOODS CORPORATION 427866108 470 7,550 SH
X 4,500 3,050
HEWLETT PACKARD CO 428236103 863 12,639 SH
X 4,578 200 7,861
HOME DEPOT INC 437076102 893 14,600 SH
X 2,200 600 11,800
INTEL CORPORATION 458140100 10,281 86,710 SH
X 40,250 675 45,785
INTERNATIONAL BUSINESS MACHINES 459200101 1,542 8,362 SH
X 5,412 2,950
INTERPUBLIC GROUP COS INC 460690100 1,515 19,000 SH
X 7,114 300 11,586
JOHNSON AND JOHNSON 478160104 2,088 24,893 SH
X 10,839 350 13,704
KEYCORP 493267108 1,817 56,768 SH
X 45,736 11,032
LNB BANCORP INC 502100100 11,027 397,369 SH
X 121,472 275,897
LILLY ELI & CO 532457108 2,617 29,450 SH
X 19,250 200 10,000
LINEAR TECHNOLOGY CORP 535678106 349 3,900 SH
X 348 3,552
LUCENT TECHNOLOGIES INC 549463107 7,611 69,228 SH
X 37,162 600 31,466
MBNA CORP 55262L100 625 25,200 SH
X 12,000 13,200
MEDTRONIC INC 585055106 2,252 30,316 SH
X 9,618 400 20,298
MERCK & CO. INC. 589331107 4,532 30,722 SH
X 16,912 300 13,510
MICROSOFT 594918104 12,612 90,940 SH
X 43,450 400 47,090
MOBIL CORPORATION 607059102 3,145 36,100 SH
X 17,668 300 18,132
MOLEX INC 608554101 231 6,070 SH
X 682 5,388
MOTOROLA INC 620076109 1,132 18,534 SH
X 6,475 700 11,359
FEDERATED OHIO MUNICIPAL INCOME FUND 625922307 224 19,039 SH
X 19,039
CLASS F
NATIONAL CITY CORPORATION 635405103 1,373 18,942 SH
X 18,942
NORDSON CORPORATION 655663102 888 17,294 SH
X 14,437 2,857
ORACLE CORP 68389X105 2,282 52,920 SH
X 21,325 600 30,995
PFIZER INC 717081103 4,030 32,243 SH
X 13,488 200 18,555
PIONEER HI BRED INTL INC 723686101 409 15,450 SH
X 5,850 9,600
PROCTER & GAMBLE CO 742718109 945 10,346 SH
X 6,616 330 3,400
PROGRESSIVE CORP OHIO 743315103 2,037 12,025 SH
X 6,575 5,450
RAYTHEON CO CLASS B 755111408 841 15,800 SH
X 9,300 6,500
ROYAL DUTCH PETROLEUM CO 780257804 2,281 47,650 SH
X 29,188 800 17,662
NY REG SHS 1.25
SBC COMMUNICATIONS INC 78387G103 2,310 43,078 SH
X 32,672 600 9,806
SANMINA CORP 800907107 312 4,995 SH
X 800 4,195
SARA LEE CORPORATION 803111103 2,267 80,420 SH
X 46,156 800 33,464
FORMERLY CONSOLIDATED FOODS
SCHERING-PLOUGH CORPORATION 806605101 1,362 24,656 SH
X 24,656
SOLECTRON CORP 834182107 2,977 32,033 SH
X 6,291 400 25,342
SPRINT CORP 852061100 2,558 30,404 SH
X 27,373 3,031
SPRINT CORP PCS 852061506 352 15,222 SH
X 13,772 1,450
GROUP SERIES 1
STATE STREET CORP 857477103 1,038 14,802 SH
X 9,200 5,602
STEEL DYNAMICS INC 858119100 506 43,027 SH
X 43,027
SUN MICROSYSTEMS INC 866810104 2,055 24,000 SH
X 7,300 700 16,000
SUNTRUST BANKS, INC. 867914103 1,461 19,102 SH
X 12,900 6,202
WALGREEN CO 931422109 348 5,936 SH
X 5,936
WELLS FARGO AND CO 949746101 1,100 27,555 SH
X 10,160 17,395
WRIGHT NEAR TERM BOND FUND 982349201 197 19,200 SH
X 19,200
(BFBT-NTB)
NORTHERN SAVINGS & LOAN COMPANY 996196MS7 259 5,568 SH
X 5,568
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FINAL TOTALS 161,225
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