SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Information Statement Pursuant to Rule 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
KSB 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)
482667 10 2
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(CUSIP Number)
Check the following box if a fee is being paid with the statement
/ /. (A fee is not required only if the filing person: (1)
has a previous statement on file reporting beneficial ownership
of more than five percent of the class of securities described in
item 1; and (2) has filed no amendment subsequent thereto
reporting beneficial ownership of five percent or less of such
class.) See (Rule 13d-7).
*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 the disclosures provided
in a prior cover page.
The information required in 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 5 Pages
<PAGE>
CUSIP NO. 482667 10 2 PAGE 2 OF 5 PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kingfield Savings Bank
Employee Stock Ownership Trust
IRS ID No. 04-3189069
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(A) / / (B) / /
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maine-chartered stock savings institution's employee benefit
plan organized in Maine.
5 SOLE VOTING POWER
18,072
Number of shares
beneficially owned 6 SHARED VOTING POWER
by each reporting
person with 22,629
7 SOLE DISPOSITIVE POWER
40,701
8 SHARES DISPOSITIVE POWER
0
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
40,701
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.9% OF 411, 055 shares of Common Stock outstanding as of
December 31, 1996.
12 TYPE IN REPORTING PERSON*
EP
<PAGE>
CUSIP NO. 482667 10 2 PAGE 3 OF 5 PAGES
Item 1(a). Name of Issuer:
KSB Bancorp, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
P.O. Box 105
Main Street
Kingfield, ME 04947
Item 2(a). Name of Person Filing:
Kingfield Savings Bank
Employee Stock Ownership Plan and Trust
Trustee: First Bankers Trust Company
Item 2(b). Address of Principal Business Office:
P.O. Box 105
Main Street
Kingfield, ME 04947
Item 2(c). Citizenship or Place of Organization:
Maine-chartered stock savings institution's employee
benefit plan organized in Maine.
Item 2(d). Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e). CUSIP Number:
482667 10 2
Item 3. Statement is Filed Pursuant To Rule 13d-1(b):
This person is an Employee Benefit Plan, Pension Fund
which is subject to the provisions of the Employee
Retirement Income Security Act of 1974; see
13d-1(b)(1)(ii)(F).
Item 4. Ownership:
As of December 31, 1996, the reporting person
beneficially owned 40,701 shares of the Issuer. This
number of shares represents 9.9% of the common stock,
par value $.01 per share, of the Issuer, based upon
411,055 shares of such common stock outstanding as
of December 31, 1996. As of December 31, 1996, the
reporting person has sole power to vote or to direct
the vote of 18,072 shares and shared power to vote
or to direct the vote of 22,629 shares. The
reporting person has sole power to dispose or to
direct the disposition of 40,701 shares of common
stock.
<PAGE>
CUSIP NO. 482667 10 2 PAGE 4 OF 5 PAGES
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:
Not applicable
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by the
Parent Holding Company:
Not applicable
Item 8. Identification and Classification of Members of the
Group:
The reporting person is an employee benefit plan
subject to the provisions of the Employee Retirement
Income Security Act of 1974.
Item 9. Notice of Dissolution of Group:
Not applicable
Item 10. Certification:
By signing below I certify that, to the best of my
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 purposes or effect.
<PAGE>
CUSIP NO. 482667 10 2 PAGE 5 OF 5 PAGES
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.
February 14, 1997 /s/ John E. Thien
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John E. Thien, Vice President/CFO
(on behalf of the Kingfield Savings
Bank Employee Stock Ownership Plan)
