SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
LIFE 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)
531932 10 1
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(CUSIP Number)
Page 1 of 5 Pages
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[CUSIP NO. 531932 10 1] [Page 2 of 5 Pages]
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Life Bancorp, Inc. Employee Stock Ownership Plan Trust
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE VOTING POWER
0
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6. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SHARED VOTING POWER
573,158
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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE DISPOSITIVE POWER
0
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SHARED DISPOSITIVE POWER
573,158
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
573,158
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Excludes 299,692 shares held in the ESOP Trust which have been allocated to
the accounts of participating employees. The ESOP disclaims beneficial
ownership of such allocated shares. [ X ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.82%
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12. TYPE OF REPORTING PERSON
EP
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[CUSIP NO. 531932 10 1] [Page 3 of 5 Pages]
Item 1(a) Name of Issuer:
Life Bancorp, Inc.
Item 1(b) Address of Issuer's Principal Executive Office:
109 East Main Street
Norfolk, Virginia 23510
Item 2(a) Name of Person Filing:
Life Bancorp, Inc. Employee Stock Ownership Plan Trust.
Item 2(b) Address of Principal Business office or, if None, Residence:
Life Bancorp, Inc.
109 East Main Street
Norfolk, Virginia 23510
Item 2(c) Citizenship:
United States
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e) CUSIP Number:
531932 10 1
Item 3. If this statement is filed pursuant to Rules 13-d(b), or 13D-2(b),
check whether the person filing is a:
(f) [X] Employee Benefit Plan, Pension Plan Fund which is subject
to the provisions of the Employee Retirement Income Security
Act of 1974.
Item 4. Ownership.
(a) Amount beneficially owned:
573,158
(b) Percent of class:
5.82%
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[CUSIP NO. 531932 10 1] [Page 3 of 5 Pages]
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 0
(ii) Shared power to vote or to direct the vote 573,158
(iii) Sole power to dispose or to direct the disposition of 0
(iv) Shared power to dispose or to direct the disposition
of 573,158
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.
Edward E. Cunningham, Tollie W. Rich, Jr. and William J. Fanney are the
trustees ("Trustees") of the trust (the "Trust") created pursuant to the Life
Bancorp, Inc. Employee Stock Ownership Plan ("ESOP") which holds 573,158 shares
of common stock which have not been allocated to the accounts of participating
employees to date, and will be voted by the Trustees pursuant to the terms of
the ESOP and may be deemed to be beneficially owned by the Trust. In addition, a
total of 299,692 shares held in the Trust have been allocated to the accounts of
participating employees to date and the Trust disclaims beneficial ownership of
such allocated shares.
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.
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certification.
By signing below, We certify that, to the best of our 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 purpose or effect.
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[CUSIP NO. 531932 10 1] [Page 5 of 5 Pages]
SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
Statement on Schedule 13G is true, complete and correct.
LIFE BANCORP, INC. EMPLOYEE STOCK
OWNERSHIP PLAN TRUST
Date: February 13, 1997 By: /s/ Edward E. Cunningham
Edward E. Cunningham
Trustee for the Life Bancorp, Inc. Employee
Stock Ownership Plan Trust
Date: February 13, 1997 By: /s/ Tollie W. Rich, Jr.
Tollie W. Rich, Jr.
Trustee for the Life Bancorp, Inc. Employee
Stock Ownership Plan Trust
Date: February 13, 1997 By: /s/ William J. Fanney
William J. Fanney
Trustee for the Life Bancorp, Inc. Employee
Stock Ownership Plan Trust
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