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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20552
SCHEDULE 13D
Under the Securities Act of 1934
(Amendment No. ______________)*
Permanent Bancorp, Inc.
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(Name of Issuer)
Common Stock, Par Value $0.01 per share
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(Title of Class of Securities)
714 197 100
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(CUSIP Number)
Donald P. Weinzapfel
101 Southeast Third Street, Evansville, Indiana 47706-1227
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 31, 1998
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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(e), 13d-1(f) or 13d-1(g), check the following box __.
*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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CUSIP NO. 161 225 107 13D Page 2 of 7 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
(VOLUNTARY)
Donald P. Weinzapfel
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ___ (b) X
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING 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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7 SOLE VOTING POWER
NUMBER OF 95,559
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 22,319
EACH --------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 90,897
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10 SHARED DISPOSITIVE POWER
22,319
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
117,878
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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)
5.39%
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14 TYPE OF REPORTING PERSON
IN
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Item 1. Security and Issuer
The class of equity securities to which this statement
relates is the common stock, par value $.01 per share (the
"Common Stock"), of Permanent Bancorp, Inc. (the "Company"),
located at 101 Southeast Third Street, Evansville, Indiana 47708.
Item 2. Identity and Background
The name and address of the person filing this statement is
Donald P. Weinzapfel, 101 Southeast Third Street, Evansville,
Indiana 47706-1227. Weinzapfel is the Chairman of the Board,
President and Chief Executive Officer of the Company and the
Company's wholly owned subsidiary, Permanent Federal Savings Bank
(the "Bank"), at the address stated above. During the last five
years, Mr. Weinzapfel has not been convicted in a criminal
proceeding (excluding traffic violations or similar
misdemeanors), or been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction
which resulted in him being subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws
or being found in violation with respect to such laws.
Mr. Weinzapfel is a citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration
Mr. Weinzapfel has acquired beneficial ownership of 117,878
shares of Common Stock as follows:
(i) 27,201 shares purchased by Mr. Weinzapfel or his wife
with personal funds at an aggregate cost of $297,368.50
(including 2,415 shares acquired by Mr. Weinzapfel upon exercise
of stock options at an exercise price of $10.00 per share);
(ii) 69,000 shares underlying unexercised stock options
awarded to Mr. Weinzapfel in consideration for his service as an
officer of the Company and the Bank which are currently
exercisable;
(iii) 4,761 shares of restricted stock awarded to Mr.
Weinzapfel in consideration for his service as an officer of the
Company and the Bank;
(iv) 12,254 shares awarded as restricted stock to Mr.
Weinzapfel in consideration for his service as an officer of the
Company and Bank which are now vested; and
(v) 4,662 shares allocated to Mr. Weinzapfel's account under
the Company's Employee Stock Ownership Plan (the "ESOP").
In February 1996, Mr. Weinzapel and his wife received a loan
of approximately $50,000 from Home Federal Savings Bank, Seymour,
Indiana, for the purpose of purchasing 3,175 shares of Common
Stock. As of March 31, 1998, the principal balance of this loan
was approximately $29,296.
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Item 4. Purpose of Transaction
Except with respect to the ESOP allocations and stock
options and shares of restricted stock awarded to Mr. Weinzapfel
by the Company as compensation, all of the shares purchased
and/or acquired by Mr. Weinzapfel are for investment purposes.
Mr. Weinzapfel may, from time to time, depending upon market
conditions and other investment considerations, purchase
additional shares of the Common Stock for investment or dispose
of shares of the Common Stock. As Chairman of the Board,
President and Chief Executive Officer of the Company, Mr.
Weinzapfel regularly explores potential actions and transactions
which may be advantageous to the Company, including, but not
limited to, possible mergers, acquisitions, reorganizations or
other material changes in the business, corporate structure,
management, policies, governing instruments, capitalization,
securities or regulatory or reporting obligations of the Company.
Except as noted above, Mr. Weinzapfel has no plans or
proposals which relate to or would result in:
(a) the acquisition by any person of additional securities
of the Company, or the disposition of securities of the Company;
(b) an extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving the Company or
any of its subsidiaries;
(c) a sale or transfer of a material amount of assets of
the Company or any of its subsidiaries;
(d) any change in the present Board of Directors or
management of the Company, including any plans or proposals to
change the number or term of directors or to fill any existing
vacancies on the Board;
(e) any material change in the present capitalization or
dividend policy of the Company;
(f) any other material change in the Company's business or
corporate structure;
(g) changes in the Company's certificate of incorporation,
bylaws or instruments corresponding thereto or other actions
which may impede the acquisition of control of the Company by any
person;
(h) causing a class of securities of the Company to be
delisted from a national securities exchange or to cease to be
authorized to be quoted in an inter-quotation system of a
registered national securities association;
(i) a class of equity securities of the Company becoming
eligible for termination of registration pursuant to Section
12(g)(4) of the Securities Exchange Act of 1934; or
(j) any action similar to any of those enumerated above.
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Item 5. Interest in Securities of the Issuer
The aggregate number of shares of Common Stock beneficially
owned by Mr. Weinzapfel as of March 31, 1998 was 117,878 shares,
representing 5.39% of the shares of Common Stock outstanding. Of
these shares, Mr. Weinzapfel had sole voting power over 95,559
shares (including 4,662 shares allocated to Mr. Weinzapfel's ESOP
account over which Mr. Weinzapfel had no dispositive powers) and
sole dispositive power over 90,897 shares. The 117,878 shares
include 22,319 shares owned by or jointly with Mr. Weinzapfel's
wife, Shirley A. Weinzapfel, over which Mr. Weinzapfel may be
deemed to have shared voting and dispositive powers. The 117,878
shares also include 69,000 shares subject to stock options
exercisable as of March 31, 1998.
Mrs. Weinzapfel's address is 101 Southeast Third Street,
Evansville, Indiana 47708. During the last five years, Mrs.
Weinzapfel has not been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), or been a
party to a civil proceeding of a judicial or administrative body
of competent jurisdiction which resulted in her being subject to
a judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or
being found in violation of such laws.
Mrs. Weinzapfel is a citizen of the United States of
America.
During the 60 day period prior to March 31, 1998, Mr. and
Mrs. Weinzapfel effected the following transactions in the Common
Stock (i) on January 30, 1998, the open market purchase of 14
shares by Mrs. Weinzapfel at $27.875 per share; (ii) on January
30, 1998, the open market purchase of 53 shares by Mr. Weinzapfel
at $27.875 per share; and (iii) on January 30, 1998, the open
market purchase of 131 shares by Mr. Weinzapfel at $27.875 per
share. In addition, on March 31, 1998, an unexercised stock
option held by Mr. Weinzapfel vested and became exercisable as to
17,854 shares, and 4,761 restricted shares of Common Stock
previously awarded to Mr. Weinzapfel vested.
No other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds
from the sale of, the shares held by Mr. Weinzapfel.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to the Securities of
the Issuer
Except as noted in Item 3 with respect to the loan to Mr.
and Mrs. Weinzapfel, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) between Mr.
Weinzapfel and any other person with respect to any securities of
the issuer, including but not limited to, transfer or voting of
any of such securities, finder's fees, joint ventures, loan or
option arrangements, put or calls, guarantees of profits,
divisions of profits or loss, or the giving or withholding of
proxies. None of the Common Stock beneficially owned by Mr.
Weinzapfel is pledged or otherwise subject to a contingency the
occurrence of which would give another person voting power or
investment power over such shares.
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Item 7. Material to be Filed as Exhibits
None.
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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.
Date: May 26, 1998 /s/ Donald P. Weinzapfel
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Donald P. Weinzapfel
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