SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
LONG ISLAND SAVINGS BANK
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
542662101
(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 I; 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 page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 1a 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).
(Continued on following page(s))
<PAGE>
Page 2 of 4 Pages
CUSIP No. 542662101
U.S. TRUST CO. OF CALIFORNIA, N.A.
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above
Persons
Long Island Savings Bank ESOP
Tax Id# 11-1018890
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
515 S Flower St. #2800 Los Angeles, CA 90071
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Number of shares Beneficially (5) Sole Voting Power
Owned by each Reporting ----------------------------------
Person with (6) Share Voting Power
2,046,583
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(7) Sole Dispositive Power
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(8) Shared Dispositive Power
2,046,583
----------------------------------
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
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(10) Check Box if the Aggregate Amount in Row (9) Exclude Certain Shares*
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(11) Percent of Class Represented by Amount in Row (8) 8.5%
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(12) Type of Reporting Person*
E. P.
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*SEE INSTRUCTION BEFORE FILLING OUT
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Page 3 of 4 Pages
ITEM 1(A) Name of Issuer
Long Island Savings Bank
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ITEM 1(B) Address of Issuer's Principal Executive Office
201 Old Country Road
Melville, N.Y. 11747
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ITEM 2(A) Name of Person(s) Filing
U.S. Trust Co. of California, N.A.
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ITEM 2(B) Address Of Issuer's Principal Executive Offices
515 S Flower St. #2800 Los Angeles, CA 90071
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ITEM 2(C) Citizenship
USA
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ITEM 2(D) Title Of Class of Securities
Common Stock
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ITEM 2(E) Cusip Number
542662101
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ITEM 3. If This Statement Is Filed Pursuant To Rules 130-1(B), Or 130-2(B),
Check Whether The Person Filing Is a
(a) / / Broker or Dealer registered under Section 15 of the
Act
(b) / / Bank as defined in section 3(a)(6) of the Act
(c) / / Insurance Company as defined in section 3(a) (19) of
the Act
(d) / / Investment Company registered under section 9 of the
Investment Company Act
(e) / / Investment Adviser registered under section 203 of
the Investment Advisers Act of 1940
(f) /X/ Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or Endowment
Fund; see rule 13d-(b)(1)(11)(F)
(g) / / Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(6) (Note: See Item 7)
(h) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
<PAGE>
Page 4 of 4 Pages
ITEM 4. Ownership
(a) Amount Beneficially Owned
2,046,583
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(b) Percent of Class
8.5%
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(c) Number of shares as to which such person has: (i) sole power
to vote or direct the vote
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(ii) shared power to vote or direct the vote
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(iii) sole power to dispose or direct the disposition of
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(iv) shared power to dispose or to direct disposition of
------------------------------------------------------------
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this Statement is being filed to report the fact that as of the
data hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following / /
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ITEM 6. Ownership of More Than Five Percent on Behalf of Another Person
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ITEM 7. Identification and Classification of the Subsidiary which Acquired
the Security being Reported on by the Parent Holding Company
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ITEM 8. Identification and Classification of Members of the Group
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ITEM 9 Notice of Dissolution of Group
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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.
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.
January 30, 1998
(Date)
/s/ Terry J. Colberg
(Signature)
Terry J. Colberg, V.P.
(Name/Title) U.S. Trust Co. of California,NA
As Investment Manager of the
Employer Securities in the ESOP
