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FORM 3 OMB APPROVAL
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OMB NUMBER: 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response......0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f)
of the Investment Company Act of 1940
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<S> <C> <C> <C>
(Print or Type Response)
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1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date
Carrel Welton L. Statement Trading Symbol of Original
- ---------------------------------------- (Month/Day/Year) Redding Bancorp (Month/Day/Year)
(Last) (First) (Middle) 2/2/99 ---------------------------------
c/o Redding Bancorp, 1951 Churn Creek Rd. ---------------------------- 5. Relationship of Reporting -----------------------
- ---------------------------------------- 3. IRS or Social Security Person to Issuer 7. Individual or Joint/
(Street) Number of Reporting (Check all applicable) Group Filing (Check
Redding CA 96002 Person (Voluntary) X Director 10% Owner applicable line)
- -------------------------------------- ----- ----- X Form filed by
(City) (State) (Zip) ---------------------------- Officer Other ----- One Reporting
----- (give ----- (specify Person
title below) below) Form filed by
----- More than One
---------------------------------- Reporting Person
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TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 5)
(Instr. 5)
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Common Stock 76,860(1) I By Carrel Family Living Trust
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Common Stock 180(2) I By Spouse
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (7-96)
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 2. Date Exercisable 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) and Expiration Securities Underlying sion or ship Beneficial Ownership
Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/Year (Instr. 4) Price of Deriv-
Derivative ative
Security Security:
Direct
------------------------------------------------- (D) or
Date Expira- Amount or Indirect
Exercis- tion Title Number (I)
able Date of Shares (Instr. 5)
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Stock Option (right to buy) * 4/22/08 Common Stock 27,000 $9.07 D
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Explanation of Responses:
(1) The reported shares are held by the Carrel Family Living Trust for the benefit of Welton L. Carrel and Judith Carrel. Welton
Carrel and Judith Carrel are co-trustees of the Carrel Family Living Trust.
(2) The reported shares are held by Welton L. Carrel's spouse for the benefit of their grandchildren.
* The option becomes exercisable as to 20% of the shares on 4/22/99 and vests in increments of 20% of the shares annually
thereafter such that the option will be fully exercisable on 4/22/03.
/s/ Welton L. Carrel 1/13/99
** Intentional misstatements or omissions of facts constitute Federal Criminal ------------------------------- ---------------
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). **Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number. Page 2
SEC 1473 (7-96)
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