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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No.: 1
Name of Issuer: Foothill Independent Bancorp
Title of Class of Securities: Common Stock, $.01 par value
CUSIP Number: 344905104
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Bennett Lindenbaum, c/o Basswood Partners, 52 Forest Avenue,
Paramus, NJ 07652; (201) 843-3644
(Date of Event which Requires Filing of this Statement)
February 3, 1997
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of
Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following line 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
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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CUSIP No.: 344905104
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Basswood Partners, L.P.
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
8. Shared Voting Power:
311,608
9. Sole Dispositive Power:
10. Shared Dispositive Power:
311,608
11. Aggregate Amount Beneficially Owned by Each Reporting Person
311,608
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares
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13. Percent of Class Represented by Amount in Row (11)
6.89%
14. Type of Reporting Person
PN
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CUSIP No.: 344905104
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Matthew Lindenbaum ###-##-####
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
U.S.A.
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
8. Shared Voting Power:
311,608
9. Sole Dispositive Power:
10. Shared Dispositive Power:
311,608
11. Aggregate Amount Beneficially Owned by Each Reporting Person
311,608
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares
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13. Percent of Class Represented by Amount in Row (11)
6.89%
14. Type of Reporting Person
IN
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CUSIP No.: 344905104
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Bennett Lindenbaum ###-##-####
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
U.S.A.
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
8. Shared Voting Power:
311,608
9. Sole Dispositive Power:
10. Shared Dispositive Power:
311,608
11. Aggregate Amount Beneficially Owned by Each Reporting Person
311,608
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares
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13. Percent of Class Represented by Amount in Row (11)
6.89%
14. Type of Reporting Person
IN
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The purpose of this Amendment No. 1 to the previously filed
Schedule 13D is to report that the ownership of Basswood
Partners, L.P., Matthew Lindenbaum and Bennett Lindenbaum
(together, the "Reporting Persons") in the Common Stock, $.01 par
value (the "Shares"), of Foothill Independent Bancorp (the
"Issuer") has increased from 5.83% to 6.89% of the Shares
outstanding.
Item 1. Security and Issuer
No change.
Item 2. Identity and Background
No change.
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof, the Reporting Persons are deemed
to beneficially own 311,608 Shares. All 311,608 Shares
are held by either the Partnerships, the International
Fund or the managed accounts. All the Shares were
purchased in open market transactions. The Shares were
purchased for an aggregate purchase price of
$3,161,348.15. The funds for the purchase of the Shares
held in the Partnerships, the International Fund or the
managed accounts have come from the working capital of
the Partnerships, the International Fund or the managed
accounts. The working capital of these entities
includes the proceeds of margin loans entered into in
the ordinary course of business with Goldman Sachs &
Co., such loans being secured by the securities owned by
them.
Item 4. Purpose of Transactions
No change.
Item 5. Interest in Securities of Issuer
As of the date hereof, the Reporting Persons are deemed
to be the beneficial owners of 311,608 Shares. Based on
information received from the Issuer, as of December 31,
1996 there were 4,520,590 Shares outstanding.
Therefore, the Reporting Persons are deemed to
beneficially own 6.89% of the outstanding Shares. The
Reporting Persons have the power to vote, direct the
vote, dispose of or direct the disposition of all the
Shares that they are deemed to beneficially own. All
transactions in the Shares effected by the Reporting
Persons since the most recent filing on Schedule 13D
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were effected in open-market transactions and are set
forth in Exhibit B hereto.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
No change.
Item 7. Material to be Filed as Exhibits
1. An agreement relating to the filing of a joint
statement as required by Rule 13d-1(f) under
the Securities Exchange Act of 1934 is filed
herewith as Exhibit A.
2. A description of the transactions in the
Shares that were effected by the Reporting
Persons since the most recent filing on
Schedule 13D is filed herewith as Exhibit B.
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Signature
The undersigned, after reasonable inquiry and to
the best of their knowledge and belief, certify that the
information set forth in this statement is true, complete
and correct.
BASSWOOD PARTNERS, L.P.
By: Basswood Management, Inc.,
its General Partner
By: /s/ Matthew Lindenbaum
_____________________________
Matthew Lindenbaum, President
/s/ Matthew Lindenbaum
_________________________________
Matthew Lindenbaum
/s/ Bennett Lindenbaum
_________________________________
Bennett Lindenbaum
February 13, 1997
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00705003.AG3
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Exhibit A
AGREEMENT
The undersigned agree that this Schedule 13D dated
February 13, 1997 relating to the Common Stock of Foothill
Independent Bancorp shall be filed on behalf of the
undersigned.
BASSWOOD PARTNERS, L.P.
By: Basswood Management, Inc.,
its General Partner
By: /s/ Matthew Lindenbaum
_____________________________
Matthew Lindenbaum, President
/s/ Matthew Lindenbaum
_________________________________
Matthew Lindenbaum
/s/ Bennett Lindenbaum
_________________________________
Bennett Lindenbaum
00705003.AG3
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Exhibit B
SCHEDULE OF TRANSACTIONS
Price Per Share
Date Shares Purchased or (Sold) (excluding commission)
____ ________________________ _________________
01/14/97 1,100 $11.625
01/15/97 10,000 11.6875
01/16/97 10,000 11.625
01/20/97 15,000 11.625
01/21/97 5,000 11.5
02/03/97 3,000 12
02/04/97 4,600 12
02/07/97 5,000 11.75
00705003.AG3
