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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Boston Private Bancorp Inc.
_________________________________________________________________
(Name of Issuer)
Common Stock, $1.00 par value
_________________________________________________________________
(Title of Class of Securities)
101119105
_________________________________________________________________
(CUSIP Number)
John M. Stein
507 Carew Tower
441 Vine Street
Cincinnati, Ohio 45202
(513) 241-6166
_________________________________________________________________
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 25, 1998
_________________________________________________________________
(Date of Event which Requires Filing
of this Statement)
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 ___
*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).
Page 1 of 4 Pages<PAGE>
CUSIP No. 101119105 13D 2 of 4 pages
_________________________________________________________________
1) Names of Reporting Persons S.S. or I.R.S. Identification
Nos. of Above Persons
Financial Stocks Inc.
31-1437546
_________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See
Instructions)
(a) ___
(b) X
_________________________________________________________________
3) SEC Use Only
_________________________________________________________________
4) Source of Funds (See Instructions)
WC
_________________________________________________________________
5) Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) ___
_________________________________________________________________
6) Citizenship or Place of Organization
USA
_______________________________________________________________
| | |
| NUMBER OF SHARES | 7) Sole Voting Power 602,000 |
| BENEFICIALLY OWNED |_________________________________________|
| BY EACH REPORTING | 8) Shared Voting Power 54,000 |
| PERSON WITH |_________________________________________|
| | 9) Sole Dispositive Power 602,000 |
| |_________________________________________|
| | 10) Shared Dispositive Power 54,000 |
|_______________________________________________________________|
11) Aggregate Amount Beneficially Owned by Each Reporting Person
656,000
_________________________________________________________________
12) Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) ___
_________________________________________________________________
13) Percent of Class Represented by Amount in Row (11)
6.2%
_________________________________________________________________
14) Type of Reporting Person (See Instructions)
IA<PAGE>
Item 1. Security and Issuer
-------------------
This statement relates to the Common Stock $1.00 par
value ("Common Stock"), of Boston Private Bancorp Inc. (the
"Issuer"). The name and address of the principal executive
offices of the Issuer are as follows:
Boston Private Bancorp Inc.
Ten Post Office Square
Boston MA 02109
Item 5. Interest in Securities of the Issuer.
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The following table sets forth information with respect
to the shares of Common Stock of which FSI has or shares
beneficial ownership:
Percent of
Record Owner Number of Shares Outstanding
- ------------ ---------------- -----------
FSLP 602,000 (1) 5.7
Rising Stars 54,000 (2) 0.5
(1) As general partner of FSLP, FSI has sole voting power and
dispositive power with respect to these shares.
(2) As an investment advisor to Rising Stars, FSI shares voting
power and dispositive power with respect to these shares.
The following table sets forth information with respect
to all transactions with respect to the Common Stock in which FSI
has engaged in the last 60 days.
Date Shares Purchased Price Per Share
- ---- ---------------- ---------------
1/6/98 70,000 8.7143
1/9/98 35,000 8.75
2/25/98 150,000 8.25
The share purchases on January 6 and 9, 1998 were effected
in open market transactions. The shares purchased on February
25, 1998 were purchased in a public offering registered under the
Securities Act of 1933.
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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.
FINANCIAL STOCKS INC.
March 4, 1998 By: /s/ John M. Stein
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Date John M. Stein, President
