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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
PENNFIRST BANCORP, INC.
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(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE PER SHARE
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(Title of Class of Securities)
708225 10 7
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(CUSIP Number)
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Page 1 of 6 Pages
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CUSIP NO. 708225 10 7 Page 2 of 6 Pages
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1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITY ONLY)
PennFirst Bancorp, Inc. Employee Stock Ownership Plan Trust
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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
United States
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5. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE VOTING POWER
248,384
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6. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SHARED VOTING POWER
249,907
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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE DISPOSITIVE POWER
248,384
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SHARED DISPOSITIVE POWER
249,907
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
498,291
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.45%
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12. TYPE OF REPORTING PERSON
EP
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CUSIP NO. 708225 10 7 Page 3 of 6 Pages
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Item 1(a) Name of Issuer:
PennFirst Bancorp, Inc.
Item 1(b) Address of Issuer's Principal Executive Office:
600 Lawrence Avenue
Ellwood City, Pennsylvania 16117
Item 2(a) Name of Person Filing:
PennFirst Bancorp, Inc. Employee Stock Ownership Plan Trust.
Item 2(b) Address of Principal Business Office or, if None, Residence:
PennFirst Bancorp, Inc.
600 Lawrence Avenue
Ellwood City, Pennsylvania 16117
Item 2(c) Citizenship:
United States
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e) CUSIP Number:
708225 10 7
Item 3. If this statement is filed pursuant to Rules 13-d(b), or
13D-2(b), check whether the person filing is a:
[X] Employee Benefit Plan, Pension Plan Fund which is subject
to the provisions of the Employee Retirement Income Security
Act of 1974.
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CUSIP NO. 708225 10 7 Page 4 of 6 Pages
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Item 4. Ownership.
(a) Amount beneficially owned:
498,291
(b) Percent of class:
9.45%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 248,384
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(ii) Shared power to vote or to direct the vote 249,907
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(iii) Sole power to dispose or to direct the disposition of
248,384
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(iv) Shared power to dispose or to direct the disposition of
249,907
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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.
Edmund C. Smith, George William Blank, Jr., Herbert S. Skuba and
William B. Salsgiver are the trustees ("Trustees") of the trust
(the "Trust") created pursuant to the PennFirst Bancorp, Inc.
Employee Stock Ownership Plan ("ESOP") which holds 498,291 shares
of Common Stock on behalf of the ESOP, of which approximately
248,384 shares have not been allocated to the accounts of
participating employees as of December 31, 1997. Under the terms
of the ESOP, the Trustees will generally vote all allocated shares
in accordance with the instructions of the participating employees,
and allocated shares for which employees do not give instructions
will generally be voted in the same ratio on any matter as to
those shares for which instructions are given. Unallocated shares
held in the ESOP will be voted by the Trustees in accordance with
their fiduciary duties. The amounts reported herein do not include
shares of Common Stock held by the Trustees in their individual
capacity and not as Trustees.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not Applicable.
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CUSIP NO. 708225 10 7 Page 5 of 6 Pages
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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, We certify that, to the best of our 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 issuer of such
securities and were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
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CUSIP NO. 708225 10 7 Page 6 of 6 Pages
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SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of
the undersigned, the undersigned certifies that the information set forth in
this Statement on Schedule 13G is true, complete and correct.
PENNFIRST BANCORP, INC. EMPLOYEE
STOCK OWNERSHIP PLAN TRUST
Date: February 12, 1998 By: /s/ Edmund C. Smith
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Edmund C. Smith
Trustee for the PennFirst Bancorp, Inc.
Employee Stock Ownership Plan Trust
Date: February 12, 1998 By: /s/ George William Blank, Jr.
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George William Blank, Jr.
Trustee for the PennFirst Bancorp, Inc.
Employee Stock Ownership Plan Trust
Date: February 12, 1998 By: /s/ Herbert S. Skuba
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Herbert S. Skuba
Trustee for the PennFirst Bancorp, Inc.
Employee Stock Ownership Plan Trust
Date: February 12, 1998 By: /s/ William B. Salsgiver
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William B. Salsgiver
Trustee for the PennFirst Bancorp, Inc.
Employee Stock Ownership Plan Trust
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