SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Under the Securities and Exchange Act of 1934
Schedule 13G
(Amendment No. 1)
BANK PLUS CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities )
064446107
(CUSIP NUMBER)
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1) Name of Reporting Person: CNA Financial Corporation
SS or IRS Identification 36-6169860
Nos. of Above Persons:
2) Check the Appropriate Box (a) (b) X
If A Member of Group
(See Instructions)
3) SEC Use Only
4) Citizenship or Place of Organization Delaware
Number of (5) Sole Voting Power 0
Shares
Beneficially Owned (6) Shared Voting Power 1,220,610*
by Each Reporting
Person With: (7) Sole Dispositive Power 0
(8) Shared Dispositive Power: 1,220,610*
9) Aggregate Amount Beneficially
Owned by Each Reporting Person 1,220,610*
10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions)
11) Percent of Class
Represented By Amount in Row 9 6.7%
12) Type of Reporting
Person (See Instructions) HC
* Under Illinois Law, assets owned by Continental Casualty Company an Illinois
insurance company, are solely under the control of the board of directors of the
insurer. The characterization of shared dispositive power with the parent
holding is made solely as a consequence of SEC interpretations regarding control
of the subsidiary. CNA Financial Corporation and Loews Corporation specifically
disclaim benefical ownership of the securities identified herein.
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1) Name of Reporting Person: Loews Corporation
SS or IRS Identification 13-2646102
Nos. of Above Persons:
2) Check the Appropriate Box (a) (b) X
If A Member of Group
(See Instructions)
3) SEC Use Only
4) Citizenship or Place of Organization Delaware
Number of (5) Sole Voting Power 0
Shares
Beneficially Owned (6) Shared Voting Power 1,220,610*
by Each Reporting
Person With: (7) Sole Dispositive Power 0
(8) Shared Dispositive Power: 1,220,610*
9) Aggregate Amount Beneficially
Owned by Each Reporting Person 1,220,610*
10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions)
11) Percent of Class
Represented By Amount in Row 9 6.7%
12) Type of Reporting
Person (See Instructions) HC
* Under Illinois Law, assets owned by Continental Casualty Company an Illinois
insurance company, are solely under the control of the board of directors of the
insurer. The characterization of shared dispositive power with the parent
holding is made solely as a consequence of SEC interpretations regarding control
of the subsidiary. CNA Financial Corporation and Loews Corporation specifically
disclaim benefical ownership of the securities identified herein.
<PAGE>
1) Name of Reporting Person: Continental Casualty Company
SS or IRS Identification 36-2114545
Nos. of Above Persons:
2) Check the Appropriate Box (a) (b) X
If A Member of Group
(See Instructions)
3) SEC Use Only
4) Citizenship or Place of Organization Delaware
Number of (5) Sole Voting Power 0
Shares
Beneficially Owned (6) Shared Voting Power 1,220,610*
by Each Reporting
Person With: (7) Sole Dispositive Power 0
(8) Shared Dispositive Power: 1,220,610*
9) Aggregate Amount Beneficially
Owned by Each Reporting Person 1,220,610*
10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions)
11) Percent of Class
Represented By Amount in Row 9 6.7%
12) Type of Reporting
Person (See Instructions) HC
* Under Illinois Law, assets owned by Continental Casualty Company an Illinois
insurance company, are solely under the control of the board of directors of the
insurer. The characterization of shared dispositive power with the parent
holding is made solely as a consequence of SEC interpretations regarding control
of the subsidiary. CNA Financial Corporation and Loews Corporation specifically
disclaim benefical ownership of the securities identified herein.
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Item 1(a) Name of Issuer. Bank Plus Corporation
Item 1(b) Address of Issuer's Principal Executive Offices
William L. Sanders
Chief Financial Officer
BANK PLUS CORPORATION
4565 Colorado Blvd.
Los Angeles, CA 90039
Item 2(a) Name of Persons Filing. Continental Casualty Company
Loews Corporation
CNA Financial Corporation
Item 2(b) Address of Principal Business Office:
Continental Casualty Company - CNA Plaza, Chicago, Illinois 60685
CNA Financial Corporation - CNA Plaza, Chicago, Illinois 60685
Loews Corporation - 667 Madison Avenue, New York, New York 10021-8087
Item 2(c) Citizenship: Continental Casualty Company - State of Illinois
CNA Financial Corporation - State of Delaware
Loews Corporation - State of Delaware
Item 2(d) Title of Class of Securities. Common Stock
Item 2(e) CUSIP Number. 064446107
Item 3 The persons filing this statement pursuant
to Rule 13-1(b) or 13d-2 are each:
(g Parent Holding Company (HC) (Relevant subsidiary is
Continental Casualty Company, an Illinois domiciled
insurance company.)
Item 4. Ownership CNA Continental
Financial Casualty
Corp. Loews Corp. Company
(a) Amount Beneficially Owned: 1,220,610* 1,220,610* 1,220,610*
(b) Percent of Class 6.7% 6.7% 6.7%
(c) Number of shares as
to which such person has
(i) sole power to vote or
to direct the vote 0 0 0
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(ii) shared power to vote
or to direct vote 1,220,610* 1,220,610* 1,220,610*
(iii) sole power to
dispose or to direct
disposition of 0 0 0
(iv) shared power to
dispose or to direct
disposition 1,220,610* 1,220,610* 1,220,610*
Item 5. Ownership of Five Percent or Less of a Class.
Inapplicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Inapplicable.
Item 7. Identification and Classification of the Subsidiary which
Acquired the Security Being Reported On By the Parent Holding
Company.
Continental Casualty Company, an Illinois insurance company (IC).
See Exhibit 1.
Item 8. Identification and Classification of Members of the Group.
Inapplicable.
Item 9. Notice of Dissolution of the Group.
Inapplicable.
* Under Illinois Law, assets owned by Continental Casualty Company an Illinois
insurance company, are solely under the control of the board of directors of the
insurer. The characterization of shared dispositive power with the parent
holding is made solely as a consequence of SEC interpretations regarding control
of the subsidiary.
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Item 10. Certification of CNA Financial Corporation.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transactions having
such purposes or effect.
After reasonable inquiry and to the best of my knowledge and believe, I
certify that the information set forth in this statement is true, complete and
correct.
March 28, 1997
Date
/s/ Donald M. Lowry
Signature
Donald M. Lowry
Senior Vice President, Secretary and General Counsel
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Item 10. Certification of Loews Corporation.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transactions having
such purposes or effect.
After reasonable inquiry and to the best of my knowledge and believe, I
certify that the information set forth in this statement is true, complete and
correct.
March 28, 1997
Date
/s/ Barry L Hirsch
Signature
Barry L. Hirsch
Senior Vice President, Secretary and General Counsel
<PAGE>
Item 10. Certification of Continental Casualty Company.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transactions having
such purposes or effect.
After reasonable inquiry and to the best of my knowledge and believe, I
certify that the information set forth in this statement is true, complete and
correct.
March 28, 1997
Date
/s/ Donald M. Lowry
Signature
Donald M. Lowry
Senior Vice President, Secretary and General Counsel
<PAGE>
Exhibit I
Loews Corporation holds in excess of 84% of the equity of CNA Financial Corp.
CNA Financial Corp. owns 100% of the relevant subsidiary, Continental Casualty
Company, an Illinois domiciled insurance company (IC). Continental Casualty
Company is the direct owner of the position being reported.
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Exhibit 2
Each of the undersigned hereby agrees that the Schedule 13G filed
herewith is filed jointly, pursuant to Rule 13d-l(f) of the Securities and
Exchange Act of 1934, as amended, on behalf of each of the undersigned.
CONTINENTAL CASUALTY COMPANY
CNA FINANCIAL CORPORATION
/s/ Donald M. Lowry
Signature
Donald M. Lowry
Senior Vice President, Secretary and General Counsel
LOEWS CORPORATION
/s/ Barry L Hirsch
Signature
Barry L. Hirsch
Senior Vice President, Secretary and General Counsel
