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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Northwest Illinois Bancorp, Inc.
(Name of Issuer)
Common Stock, par value $5.00 per share
(Title of Class of Securities)
667 512 107
(CUSIP Number)
Check the following box if a fee is being paid with this statement / /.
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
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SCHEDULE 13G
CUSIP No. 667 512 107
___________________________________________________________________________
1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pioneer Financial Services, Inc.
___________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
___________________________________________________________________________
3 SEC USE ONLY
___________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
___________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF
225,207
SHARES _______________________________________________________
6 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY _______________________________________________________
7 SOLE DISPOSITIVE POWER
EACH
225,207
REPORTING _______________________________________________________
8 SHARED DISPOSITIVE POWER
PERSON WITH
0
___________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
225,207
___________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
___________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.36% as of 9/30/94
___________________________________________________________________________
12 TYPE OF REPORTING PERSON*
HC
___________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1(a) Name of Issuer:
Northwest Illinois Bancorp, Inc. ("NWIB")
Item 1(b) Address of Issuer's Principal Executive Offices:
50 West Douglas Street
Freeport, Illinois 61032
Item 2(a) Name of Person Filing:
This statement is being filed by Pioneer Financial Services, Inc.
("PFS"), a Delaware corporation, on behalf of itself and Pioneer Life
Insurance Company of Illinois, an Illinois corporation ("Pioneer
Life"), which is a wholly-owned subsidiary of PFS.
Item 2(b) Address of Principal Business Office of Pioneer Life and PFS
1750 East Golf Road
Schaumburg, Illinois 60173
Item 2(c) Citizenship:
PFS - Delaware
Pioneer Life - Illinois
Item 2(d) Title of Class of Securities:
This statement is being filed with respect to the common stock, par
value $5.00 per share, of NWIB ("NWIB Common Stock").
Item 2(e) CUSIP Number:
The CUSIP number of the NWIB Common Stock is 667 512 107.
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-
2(b), check whether the person filing is a:
(g) Parent Holding Company, in accordance with Section 240.13d-
1(b)(ii)(G)
Item 4. Ownership:
(a) Amount Beneficially Owned:
The number of shares beneficially owned by PFS is 225,207.
(b) Percent of Class:
The 225,207 shares beneficially owned by PFS constitutes
approximately 8.36% of the outstanding shares of NWIB Common
Stock.
(c) The number of shares as to which PFS has:
(i) sole power to vote or to direct the vote is 225,207;
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(ii) shared power to vote or to direct the vote is -0-;
(iii) sole power to dispose or to direct the
disposition is 225,207;
(iv) shared power to dispose or to direct the
disposition is -0-.
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company
See Exhibit 1 attached hereto.
Item 8. Identification and Classification of Member of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
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 transaction having such purpose or effect.
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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.
Dated February 10, 1995 PIONEER FINANCIAL SERVICES, INC.
/s/ Peter W. Nauert
____________________________
Chairman of the Board and
Chief Executive Officer
Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations. (See 18 U.S.C. 1001)
EXHIBIT 1
The shares of NWIB Common Stock the ownership of which is
being reported by PFS on this Schedule 13G were acquired by its
wholly-owned subsidiary Pioneer Life Insurance Company of
Illinois ("Pioneer Life"). The Item 3 classification of Pioneer
Life is an insurance company as defined in section 3(a)(19) of
the Securities Exchange Act of 1934, as amended.