FRIEDLANDER & CO INC /ADV
SC 13G/A, 1998-02-12
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*


                            Tri-County Bancorp, Inc.
                                (Name of Issuer)

                                  Common Stock
                         (Title of Class of Securities)

                                    895452100
                                 (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.)  N/A

   *    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 disclosures provided in a prior cover
        page.

   The information required on 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).

                        (Continued on following page(s))

   CUSIP No. 895452100

     1   NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

              Friedlander & Co., Inc.     39-1396737

     2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*           (a)  [_]
                                                                     (b)  [_]


     3   SEC USE ONLY



     4   CITIZENSHIP OR PLACE OF ORGANIZATION

              Wisconsin
                     5  SOLE VOTING POWER
      NUMBER OF
                             -0-
        SHARES
                     6  SHARED VOTING POWER
     BENEFICIALLY
                             -0-
       OWNED BY

                     7  SOLE DISPOSITIVE POWER
         EACH

                             76,200
      REPORTING

        PERSON
                    8   SHARED DISPOSITIVE POWER
         WITH
                             -0-

    9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

              76,200


    10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
         SHARES*                                                          [_]



    11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

              6.53%


    12   TYPE OF REPORTING PERSON*

              IA


                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
      (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

   <PAGE>

   CUSIP No. 895452100


     1   NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

              Theodore Friedlander III     ###-##-####

     2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*           (a)  [_]
                                                                     (b)  [_]


     3   SEC USE ONLY



     4   CITIZENSHIP OR PLACE OF ORGANIZATION

              U.S.A.

                     5  SOLE VOTING POWER
      NUMBER OF 
                              9,000

                     6  SHARED VOTING POWER
                             
        SHARES
                             -0-
     BENEFICIALLY
                     7  SOLE DISPOSITIVE POWER
       OWNED BY
                             See Item 2(a) of attached schedule
         EACH

                    8   SHARED DISPOSITIVE POWER
      REPORTING

                             -0-
        PERSON

         WITH
    9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

              9,000

    10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
         SHARES*                                                          [_]




    11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

              0.77%


    12   TYPE OF REPORTING PERSON*

              HC


                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
      (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.

   <PAGE>

   Item 1.

        (a)  Name of Issuer:

             Tri-County Bancorp, Inc.

        (b)  Address of Issuer's Principal Executive Offices:

             2201 Main Street
             Torrington, Wyoming  82240

   Item 2.

        (a)  Name of Person Filing:

             Friedlander & Co., Inc. ("Friedlander") and Theodore
   Friedlander III.  Theodore Friedlander III is a controlling person of
   Friedlander and as such may be deemed to beneficially own the shares of
   Common Stock of Tri-County Bancorp., Inc. beneficially owned by
   Friedlander.  Mr. Friedlander beneficially owns less than 1% of the shares
   held by Friedlander and disclaims beneficial ownership of all other shares
   held by Friedlander.

        (b)  Address of Principal Business Office of each or, if none,
   Residence:

             322 East Michigan Street
             Suite 250
             Milwaukee, Wisconsin  53202

        (c)  Citizenship:

             Friedlander is a Wisconsin corporation and Mr. Friedlander is a
   citizen of the United States.

        (d)  Title of Class of Securities:

             Tri-County Bancorp, Inc. Common Stock

        (e)  CUSIP Number:

             895452100

   Item 3.

             If this statement is filed pursuant to Rule 13d-1(b), or
   13d-2(b), check whether the person filing is a:

             Friedlander is an Investment Adviser registered under
   Section 203 of the Investment Advisers Act of 1940.

             Theodore Friedlander III is filing as a Parent Holding Company,
   in accordance with Section 240.13d-1(b)(ii)(G), as interpreted.

   Item 4.   Ownership.

             (a)  Amount Beneficially Owned:

                  Friedlander:                  76,200

                  Theodore Friedlander III:      9,000

             (b)  Percent of Class:

                  Friedlander:                  6.53%

                  Theodore Friedlander III:     0.77%

             (c)  Number of shares as to which such person has:

                  (i)  sole power to vote or to direct the vote:

                       Friedlander:                  0

                       Theodore Friedlander III:     9,000

                  (ii) shared power to vote or to direct the vote:

                       Friedlander:                  0

                       Theodore Friedlander III:     0

                  (iii) sole power to dispose or to direct the
                        disposition of:

                       Friedlander:                  76,200

                       Theodore Friedlander III:     See Item 2(a) above

                  (iv) shared power to dispose or to direct the disposition
                       of:

                       Friedlander:                  0

                       Theodore Friedlander III:     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.

             The securities referred to in this Schedule are held for the
   accounts of discretionary clients of Friedlander & Co., Inc., who have the
   right to receive dividends from and the proceeds of the sale of such
   securities.  No such person's rights, however, relate to more than 5% of
   the class.

   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.

   Item 9.   Notice of Dissolution of Group.

             Not Applicable.

   Item 10.  Certification.

             By signing below each of the undersigned certifies that, to the
   best of its or his 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
   purposes or effect.

   Exhibits:

             1.   Agreement to file Schedule 13G jointly (Exhibit 1 to
                  Schedule 13G dated February 13, 1997 is incorporated by
                  reference).
   <PAGE>

                                    SIGNATURE

             After reasonable inquiry and to the best of its knowledge and
   belief, each of the undersigned certifies that the information set forth
   in this statement with respect to it is true, complete and correct.

             Dated:    February 12, 1998

                                      FRIEDLANDER & CO., INC.



                                      By:  /s/ Theodore Friedlander III      
                                           Theodore Friedlander III
                                           President and Secretary



                                      /s/ Theodore Friedlander III           
                                      Theodore Friedlander III


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