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OMB Approval
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OMB Number: 3235-0145
Expires:December 31, 1997
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20552
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
Westco Bancorp, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
957504103
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(CUSIP Number)
Gregg P. Goossens, 2121 S. Mannheim Road, Westchester, IL 60154
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
December 31, 1996
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(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 |_|.
NOTE: Six copies of this statement, including all exhibits, should be filed with
the OTS. See Rule 13d-1(a) for other parties to whom copies are to be sent.
*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).
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SCHEDULE 13D
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CUSIP NO. 957504103 Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gregg P. Goossens
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
2 (b) |_|
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3 SEC USE ONLY
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4 SOURCES OF FUNDS*
SC, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 114,390
OWNED BY
EACH
REPORTING
PERSON
WITH
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8 SHARED VOTING POWER
20,250
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9 SOLE DISPOSITIVE POWER
100,053
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10 SHARED DISPOSITIVE POWER
34,587
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
134,640 (The number reflects a 3 for 2 stock split distributed in
May 1996)
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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)
5.2%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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CUSIP NO. 957504103 Page 3 of 8 Pages
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ITEM 1: Security and Issuer.
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ITEM 1 (a): Title of Class of Securities
Common Stock
ITEM 1 (b): Name and Address of the Principal Executive Office of the Issuer
Westco Bancorp, Inc.
2121 S. Mannheim Road
Westchester, Illinois 60154
ITEM 2: Identity and Background.
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ITEM 2 (a): Name
Gregg P. Goossens
ITEM 2 (b): Address
Westco Bancorp, Inc.
2121 S. Mannheim Road
Westchester, Illinois 60154
ITEM 2(c): Principal Occupation
Executive Vice President
Westco Bancorp, Inc.
2121 S. Mannheim Road
Westchester, Illinois 60154
Executive Vice President
First Federal Savings & Loan Association of Westchester
2121 S. Mannheim Road
Westchester, Illinois 60154
ITEM 2(d): Criminal Proceedings
None
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CUSIP NO. 957504103 Page 4 of 8 Pages
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ITEM 2(e): Civil Proceedings
None
ITEM 2(f): Citizenship
United States
ITEM 3: Source and Amount of Funds or Other Considerations.
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The Reporting Person currently may be deemed beneficial owner of: 1)
17,625 shares purchased in the Conversion of First Federal Savings
and Loan Association of Westchester ("First Federal") from mutual to
stock form; 2) 19,086 shares purchased in the Conversion of First
Federal from mutual to stock form through the Issuer's Profit Plan
and Trust; 3) 4,050 shares purchased in the open market; 4) 18,750
shares beneficially owned by the Reporting Person's wife; 5) 1,500
shares beneficially owned by the Reporting Person as custodian for
his daughter; 6) 2,112 received by the Reporting Person under the
Issuer's Profit Plan and Trust since the Conversion which are
purchased quarterly by the plan trustee; 7) 4,416 unvested shares
awarded pursuant to the First Federal Recognition and Retention Plan
and Trust (the "RRP"); 8) 13,020 vested shares received pursuant to
the RRP; 9) 14,337 shares allocated to him under the Issuer's
Employee Stock Ownership Plan; 10) 29,244 shares awarded pursuant to
options granted by the Issuer that are exercisable or exercisable
within 60 days of this filing; and 11) 10,500 obtained through the
exercise of options with personal funds totalling $70,000.
The 4,050 shares purchased on the open market were purchased with
$16,250 of personal funds on January 22, 1993, and with $24,300 of
personal funds on October 19, 1993, and with $10,125 of personal
funds on January 20, 1994.
The numbers reflect a 3 for 2 stock split distributed in May 1996.
ITEM 4: Purpose of Transaction.
----------------------
ITEM 4(a): The acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer;
None
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CUSIP NO. 957504103 Page 5 of 8 Pages
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ITEM 4(b): An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
None
ITEM 4(c): A sale or transfer of a material amount of assets of the issuer or
any of its subsidiaries;
None
ITEM 4(d): Any change in the present board of directors or management of the
issuer, including any plans or proposals to change the number of
term of directors or to fill any existing vacancies on the board;
None
ITEM 4(e): Any material change in the present capitalization or dividend policy
of the issuer;
None
ITEM 4(f): Any other material change in the issuer's business or corporate
structure including but not limited to, if the issuer is a
registered closed-end investment company, any plans or proposals to
make any changes in its investment policy for which a vote is
required by section 13 of the Investment Company Act of 1940;
None
ITEM 4(g): Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the issuer by any person;
None
ITEM 4(h): Causing a class of securities of the issuer to be delisted from
a national securities exchange or to cease to be authorized to be
quoted in an inter-dealer quotation system of a registered national
securities association;
None
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CUSIP NO. 957504103 Page 6 of 8 Pages
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ITEM 4(i): A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act;
or
None
ITEM 4(j): Any action similar to any of those enumerated above.
None
Mr. Goossens is Executive Vice President of the issuer and, in such position,
Mr. Goossens is considered to be a controlling person of the issuer. He has
responded to this Section 4 in his individual capacity and not in his fiduciary
capacity as the executive vice president.
ITEM 5: Interest in Securities of the Issuer.
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ITEM 5(a): Mr. Goossens is the beneficial owner of 134,640 shares representing
5.2% of the shares outstanding as of February 14, 1997.
ITEM 5(b): 114,390 Sole Voting Power
20,250 Shared Voting Power
100,053 Sole Dispositive Power
34,587 Shared Dispositive Power
ITEM 5(c): Mr. Goossens has engaged in the following transactions in the
issuer's stock of which he is the beneficial owner in the last 60
days:
None
Mr. Goossens became a 5% beneficial owner of the issuer as a result
of shares allocated from the Issuer's Employee Stock Ownership Plan
as of December 31, 1996.
ITEM 5(d): Mr. Goossens' wife has the right to receive and the power to direct
the receipt of any dividends from or proceeds from the sale of
18,750 of the shares beneficially owned by Mr. Goossens.
Mr. Goossens' daughter has the right to receive any dividends from
or proceeds from the sale of 1,500 of the shares beneficially owned
by Mr. Goossens.
ITEM 5(e): N/A
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CUSIP NO. 957504103 Page 7 of 8 Pages
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ITEM 6: Contracts, Arrangements, Understandings or Relationships with Respect
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to Securities of the Issuer.
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None
ITEM 7: Exhibits.
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None
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CUSIP NO. 957504103 Page 8 of 8 Pages
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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.
March 21, 1997 /s/ Gregg P. Goossens
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Date Signature
