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OMB Approval
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OMB Number: 3235-0145
Expires:December 31, 1997
Estimated average burden
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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. 1)*
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)
David C. Burba, 2121 S. Mannheim Road, Westchester, IL 60154
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
June 26, 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
David C. Burba
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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 195,906
OWNED BY
EACH
REPORTING
PERSON
WITH
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8 SHARED VOTING POWER
6,500
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9 SOLE DISPOSITIVE POWER
179,991
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10 SHARED DISPOSITIVE POWER
22,415
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
202,406 (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)
7.6%
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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
David C. Burba
ITEM 2 (b): Address
Westco Bancorp, Inc.
2121 S. Mannheim Road
Westchester, Illinois 60154
ITEM 2(c): Principal Occupation
President and Chief Executive Officer
Westco Bancorp, Inc.
2121 S. Mannheim Road
Westchester, Illinois 60154
President and Chief Executive Officer
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)
45,001 shares purchased in the Conversion of First Federal Savings
and Loan Association of Westchester ("First Federal") from mutual to
stock form through the Issuer's Profit Plan and Trust; 2) 10,050
shares purchased in the open market; 3) 3,250 shares beneficially
owned by the Reporting Person and held by the Reporting Person's
wife for his son; 4) 3,250 shares beneficially owned by the
Reporting Person's daughter; 5) 337 shares beneficially owned by the
Reporting Person through a Keogh account; 6) 5,359 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)
7,728 unvested shares awarded pursuant to the First Federal
Recognition and Retention Plan and Trust (the "RRP"); 8) 27,612
vested shares awarded pursuant to the RRP; 9) 15,915 shares
allocated to him under the Issuer's Employee Stock Ownership Plan;
and 10) 83,904 shares awarded pursuant to options granted by the
Issuer that are exercisable or exercisable within 60 days of this
filing.
The 10,050 shares purchased on the open market were purchased with
$60,700 of personal funds on June 26, 1992, with $15,875 of personal
funds on January 22, 1993, and with $14,000 of personal funds on
January 25, 1994.
The numbers reflect a 3 for 2 stock split distributed in May 1996.
ITEM 4: Purpose of Transaction.
Describe any plans or proposals which the reporting person may have
which relate to or would result in:
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. Burba is President, Chief Executive Officer and a Director of the issuer
and, in such position, Mr. Burba 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 president and chief executive officer.
ITEM 5: Interest in Securities of the Issuer.
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ITEM 5(a): Mr. Burba is the beneficial owner of 202,406 shares representing
7.6% of the shares outstanding as of February 14, 1997.
ITEM 5(b): 195,906 Sole Voting Power
6,500 Shared Voting Power
179,991 Sole Dispositive Power
22,415 Shared Dispositive Power
ITEM 5(c): Mr. Burba has engaged in the following transactions in the issuer's
stock of which he is the beneficial owner in the last 60 days:
None
The percentage of stock of which Mr. Burba is the beneficial owner
increased as a result of stock options which vested June 26, 1996.
ITEM 5(d): Mr. Burba's daughter has the right to receive and the power to
direct the receipt of any dividends from or proceeds from the sale
of 3,250 of the shares beneficially owned by Mr. Burba. Mr. Burba's
son has the right to receive any dividends from or proceeds from the
sale of 3,250 of the shares beneficially owned by Mr. Burba.
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/ David C. Burba
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Date Signature
