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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Haven Bancorp, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
419352-10-9
(CUSIP Number)
Check the following box if a fee is being paid with this 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).
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13G
CUSIP No. 419352-10-9 Page 2 of 6 Pages
1. NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Voluntary)
Columbia Federal Savings Bank Employee Stock Ownership Plan
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ____
(b) ____
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Employee benefit plan of a Delaware corporation.
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER 0
6. SHARED VOTING POWER 0
7. SOLE DISPOSITIVE POWER 0
8. SHARED DISPOSITIVE POWER 343,227
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON - 343,227
10. CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*
----
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.9% of 4,325,407 shares of Common Stock outstanding as of
December 31, 1996
12. TYPE OF REPORTING PERSON*
EP
*SEE INSTRUCTION BEFORE FILLING OUT!
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Page 3 of 6 Pages
ITEM 1(a)
Name of Issuer: Haven Bancorp, Inc. ("Company")
ITEM 1(b)
Address of Issuer's Principal Executive Office:
93-22 Jamaica Avenue
Woodhaven, NY 11421
ITEM 2(a)
Name of Person Filing:
ESOP Committee of the Board of Directors of Columbia Federal
Savings Bank
ITEM 2(b)
Address of Principal Business Office: c/o Haven Bancorp, Inc.
93-22 Jamaica Avenue
Woodhaven, NY 11421
ITEM 2(c)
Citizenship: Employee benefit plan of Delaware corporation.
ITEM 2(d)
Title of Class of Securities:
Common stock, par value $.01 per share ("Common Stock").
ITEM 2(e)
CUSIP Number: 419352-10-9
ITEM 3
The person filing is an:
(f) Employee Benefit Plan, or pension fund which is subject to the
provisions of the Employee Retirement Income Security Act or 1974
or an endowment fund.
ITEM 4
Ownership:
The following information with respect to the Plan's ownership of
Common Stock is provided as of December 31, 1996. None of the
shares set forth below constitute shares the beneficial ownership
of which the Plan had the right to acquire within 60 days following
such date.
(a) Amount Beneficially Owned. . . . . . 343,227
(b) Percent of Class . . . . . . . . . . . 7.9%
(c) Number of shares as to which
such person has:
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Page 4 of 6 Pages
(i) sole power to vote or to
direct the vote . . . . . . . . . . . 0
(ii) shared power to vote or to
direct the vote. . . . . . . . . . . . 0
(iii) sole power to dispose or to
direct disposition of . . . . . . . . 0
(iv) shared power to dispose or to
direct disposition of . . . . . 343,227
The Plan was adopted by the Board of Directors of the Company,
effective as of January 1, 1993, and is intended to be a tax-
qualified plan under the Internal Revenue Code of 1986. The Plan
is administered by the ESOP Committee ("Committee") of Columbia
Federal Savings Bank ("Bank"), which is a wholly-owned subsidiary
of the Company. The Committee currently consists of three
directors of the Bank, and the assets of the Plan are held in a
trust ("Trust") for which Chase Manhattan Bank serves as trustee
("Trustee").
Pursuant to the written plan document governing the Plan ("Plan
Document"), each Participant in the Plan ("Participant") is
entitled to direct the Trustee as to the manner in which Common
Stock held by the Plan and allocated to his or her account is voted
on all matters on which shareholders of the Company may vote. Any
unallocated Common Stock is generally required to be voted by the
Trustee in the same proportion as Common Stock which has been
allocated to Participants is directed to be voted. Each
Participant also has the right to direct whether Common Stock held
by the Plan and allocated to his or her account should be delivered
by the Trustee in response to a tender offer made to holders of
Common Stock and to direct the assertion of dissenters' rights with
respect to any matter in which holders of Common Stock have the
right to assert such rights. Any unallocated Common Stock is
generally required to be delivered by the Trustee in response to a
tender offer, and dissenters' rights with respect to such
unallocated Common Stock are required to be asserted, in the same
proportion as Common Stock which has been allocated to
Participants. The Committee shares dispositive power over Common
Stock held under the Plan as, pursuant to the Plan Document and
Trust Agreement, the Committee can direct the Trustee to purchase
or sell shares of Common Stock if it considers such action to be in
the interests of the Participants. Notwithstanding the foregoing,
the Trustee is required to vote or deliver, or to assert
dissenters' rights with respect to, all unallocated Common Stock in
a manner determined by the Trustee to be in the best interests of
Participants and their beneficiaries. As of December 31, 1996, of
the 343,227 shares of Common Stock held by the Plan, 123,502 were
allocated to the accounts of Participants.
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Page 5 of 6 Pages
ITEM 5
Not applicable.
ITEM 6
Dividends declared on Common Stock held by the Plan which have been
allocated to the account of a Participant are allocated to the
account of such Participant. Such dividends may be held and
invested in the same manner as funds generally held or invested by
the Plan which are not invested in Common Stock or distributed to
Participants in accordance with and at such time as provided in the
Plan Document. Participants may receive, or direct the receipt of,
proceeds of the sale of Common Stock held by the Plan and allocated
to their accounts to the extent they have become vested in such
Common Stock and at such times as provided in the Plan Document.
Dividends declared on Common Stock held by the Plan and not
allocated to the account of a Participant are used to repay any
loan made to the Plan for the purpose of enabling it to purchase
Common Stock. No Participant has the right to receive or the power
to direct the receipt of dividends on, or the proceeds of the sale
of, a number of shares held by the Plan which exceeds 5% of the
Common Stock issued and outstanding as of the date hereof.
ITEM 7
Not applicable.
ITEM 8
Not applicable.
ITEM 9
Not applicable.
ITEM 10
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.
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Page 6 of 6 Pages
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.
COLUMBIA FEDERAL SAVINGS BANK EMPLOYEE STOCK OWNERSHIP PLAN
By: ESOP Committee of Columbia Federal Savings Bank
By /s/ Robert L. Koop
------------------------ Date: February 13, 1997
Robert L. Koop
Member
By /s/ Joseph A. Ruggiere
------------------------ Date: February 13, 1997
Joseph A. Ruggiere
Member
By /s/ Robert M. Sprotte
------------------------ Date: February 13, 1997
Robert M. Sprotte
Member
