UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
X Form 10-K
For Period Ended December 31, 1998
Sec File Number 01-16934
PART 1 -- REGISTRANT INFORMATION
Full Name of Registrant
BOL BANCSHARES, INC.
Address of Principal Executive Office (Street and Number)
300 St. Charles Avenue
City, State and Zip Code
New Orleans, LA 70130
Part II -- RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to
Rule 12b-25(b). the following should be completed. (Check box if
appropriate)
(a.) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or expense;
(b.) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will
be filed on or before the fifteenth calendar day following the
X prescribed due date; or the subject quarterly report of transition
report on Form 10-Q, or portion thereof will be filed on or before
the fifth calendar day following the prescribed due date; and
(c.) The accountant's statement or other exhibit required by Rule 12b-25
(c) has been attached if applicable.
PART III--NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-
F, 11-K, 10-Q, N-SAR, or the transition report or portion
thereof, could not be filed within the prescribed time period.
Bank of Louisiana's outside CPA firm is reviewing the income
gained on the sale of a piece of ORE to determine the exact
amount that may actually be recognized for the year 1998. The
gain is pending the receipt of an updated appraisal.
PART IV-- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Peggy L. Schaefer 504 889-9466
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or
15(d) of the Securities Exchange Act of 1934 or Section 30 of the
Investment Company Act of 1940 during the preceding 12 months or
for such shorter period that the registrant was required to file
such report(s) been filed? If answer is no, identify report(s).
X Yes No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in
the subject report or portion thereof? X Yes No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
The net loss for 1997 was $1,975,000 the net income for 1998
was $506,000. When the appraisal is received, as mentioned in
PART III above, the amount of the gain on the sale (if reduced)
would be reduced by $178,000.
BOL BANCSHARES, INC.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Date 03/31/99 By /s/ Peggy L. Schaefer
Peggy L. Schaefer, Treasurer
INSTRUCTION: The form may be signed by an executive officer of
the registrant or by any other duly authorized representative.
The name and title of the person signing the form shall be typed
or printed beneath the signature. If the statement is signed on
behalf of the registrant by an authorized representative (other
than an executive officer), evidence of the representative's
authority to sign on behalf of the registrant shall be filed with
the form.
