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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
STATE FINANCIAL SERVICES CORPORATION
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(Name of Issuer)
Common Stock, $0.10 par value
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(Title of Class of Securities)
856855 10 1
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(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 purposes 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 Notes).
(Continued on the following page(s))
Page 1 of 4 Pages
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CUSIP NO. 856855 10 1 13G PAGE 2 OF 4 PAGES
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1) Name of Reporting Person and S.S. or I.R.S. Identification No. of Above
Person
STATE FINANCIAL SERVICES CORPORATION
EMPLOYEE STOCK OWNERSHIP PLAN 39-1489983 / PN 003
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2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3) SEC Use Only
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4) Citizenship or Place of Organization:
State Financial Services Corporation - Hales Corners, Wisconsin, USA
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Number of Shares 5) Sole Voting Power 92,462
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Beneficially 6) Shared Voting Power 179,444
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Owned by Each 7) Sole Dispositive Power 92,462
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Reporting Person With: 8) Shared Dispositive Power -0-
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9) Aggregate Amount Beneficially Owned by Each Reporting Person
179,444
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10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
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11) Percent of Class Represented by Amount in Row 9
5.6%
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12) Type of Reporting Person (See Instructions)
State Financial Services Corporation
Employee Stock Ownership Plan (EP)
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CUSIP NO. 856855 10 1 13G PAGE 3 OF 4 PAGES
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ITEM 1(A). NAME OF ISSUER:
State Financial Services Corporation
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
10708 W. Janesville Road
Hales Corners, WI 53130
ITEM 2(A). NAME OF PERSON FILING:
State Financial Services Corporation
Employee Stock Ownership Plan
ITEM 2(B). ADDRESS OF PRINCIPAL OFFICE:
10708 W. Janesville Road
Hales Corners, WI 53130
ITEM 2(C). CITIZENSHIP:
State Financial Services Corporation - Hales Corners,
Wisconsin, USA
ITEM 2(D). TITLE OF CLASS OF SECURITIES
Common Stock
ITEM 2(E). CUSIP NUMBER:
856855 10 1
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON FILING IS A:
(f)[X] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee Retirement
Income Security Act of 1974, or Endowment Fund; see
Rule 13d-1(b)(1)(ii)(F)
<TABLE>
<CAPTION>
<S> <C> <C>
ITEM 4. OWNERSHIP:
(a) Amount Beneficially Owned: 179,444
(b) Percent of Class 5.6%
(c) Number of shares as to which such person has:
(I) Sole power to vote or to direct the vote 92,462
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(ii) Shared power to vote or to direct the vote 179,444
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(iii) Sole power to dispose or to direct the disposition of 92,462
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(iv) Shared power to dispose or to direct the disposition of --------
</TABLE>
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
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CUSIP NO. 856855 10 1 13G PAGE 4 OF 4 PAGES
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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, 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 issue of such securities and
were not acquired in connection with or as a participant in
any transaction having such purposes or effect.
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.
STATE FINANCIAL SERVICES CORPORATION
EMPLOYEE STOCK OWNERSHIP PLAN
February 9, 1998
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Date
/s/ Michael A. Reindl
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Signature
Michael A. Reindl, Senior Vice President, Controller and Chief Financial Officer
STATE FINANCIAL SERVICES CORPORATION
