CSB FINANCIAL GROUP INC
SC 13G/A, 1998-10-13
SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G/A


                   Under the Securities Exchange Act of 1934
                               (Amendment No. 2)*




                               CSB Financial Group,Inc.
            ------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
            ------------------------------------------------------
                         (Title of Class of Securities)

                                    126289107
            ------------------------------------------------------
                                 (CUSIP Number)


                                 September 30, 1998
             ------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

     | x |      Rule 13d-1(b)

     |   |      Rule 13d-1(c)

     |   |      Rule 13d-1(d)

*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).


                        (Continued on following page(s))

                               Page 1 of 9 Pages




<PAGE> 

CUSIP NO. 126289107                 13G/A                  PAGE  2  OF 9  PAGES


1    NAME OF REPORTING PERSON
     S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.
     54-1837743


2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                         (a) [      ]
                                                         (b) [  X   ]


3    SEC USE ONLY




4    CITIZENSHIP OR PLACE OF ORGANIZATION
     Virginia


                    5    SOLE VOTING POWER
                         0



   NUMBER OF        6    SHARED VOTING POWER
    SHARES               0
 BENEFICIALLY
   OWNED BY
     EACH
   REPORTING        7    SOLE DISPOSITIVE POWER
    PERSON               0
     WITH


                    8    SHARED DISPOSITIVE POWER
                         0



9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0



10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *



11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     0.00%


12   TYPE OF REPORTING PERSON*

     HC


                      *SEE INSTRUCTION BEFORE FILLING OUT!





<PAGE>

CUSIP NO. 126289107                    13G/A               PAGE  3  OF 9  PAGES


1    NAME OF REPORTING PERSON
     S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     Eric F. Billings


2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                         (a) [      ]
                                                         (b) [  X   ]


3    SEC USE ONLY




4    CITIZENSHIP OR PLACE OF ORGANIZATION

     United States

                    5    SOLE VOTING POWER
                         0


   NUMBER OF        6    SHARED VOTING POWER
    SHARES               0
 BENEFICIALLY
   OWNED BY
     EACH
   REPORTING        7    SOLE DISPOSITIVE POWER
    PERSON               0
     WITH


                    8    SHARED DISPOSITIVE POWER
                         0



9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    0



10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *



11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     0.00%


12   TYPE OF REPORTING PERSON*

     IN


                      *SEE INSTRUCTION BEFORE FILLING OUT!



<PAGE>

CUSIP NO. 126289107                 13G/A               PAGE  4  OF 9  PAGES


1    NAME OF REPORTING PERSON
     S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     Emanuel J. Friedman


2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                         (a) [      ]
                                                         (b) [  X   ]


3    SEC USE ONLY




4    CITIZENSHIP OR PLACE OF ORGANIZATION

     United States

                    5    SOLE VOTING POWER
                         0



   NUMBER OF        6    SHARED VOTING POWER
    SHARES               0
 BENEFICIALLY
   OWNED BY
     EACH
   REPORTING        7    SOLE DISPOSITIVE POWER
    PERSON               0
     WITH


                    8    SHARED DISPOSITIVE POWER
                         0



9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0



10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *



11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     0.00%


12   TYPE OF REPORTING PERSON*

     IN


                      *SEE INSTRUCTION BEFORE FILLING OUT!





<PAGE>

CUSIP NO. 126289107                  13G/A               PAGE  5  OF 9  PAGES


1    NAME OF REPORTING PERSON
     S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     W. Russell Ramsey


2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                         (a) [      ]
                                                         (b) [  X   ]


3    SEC USE ONLY




4    CITIZENSHIP OR PLACE OF ORGANIZATION

     United States

                    5    SOLE VOTING POWER
                         0



   NUMBER OF        6    SHARED VOTING POWER
    SHARES               0
 BENEFICIALLY
   OWNED BY
     EACH
   REPORTING        7    SOLE DISPOSITIVE POWER
    PERSON               0
     WITH


                    8    SHARED DISPOSITIVE POWER
                         0



9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0



10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *



11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     0.00%


12   TYPE OF REPORTING PERSON*

     IN


                      *SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

Item 1.    (a).    Name of Issuer: CSB Financial Group, Inc.



           (b).    Address of Issuer's Principal Executive Offices:

                   200 South Poplar Street
                   Centralia, IL  62801
                   



Item 2.    (a).    Name of Person Filing:

                   FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.




           (b).    Address of Principal Business Office or, if none, Residence:

                   1001 19th Street North
                   Arlington, VA 22209-1710



                               Page 6 of 9 Pages


<PAGE>

Item 2.    (c).    Citizenship: Virginia


           (d).    Title of Class of Securities: Common Stock


           (e).    CUSIP Number: 126289107


Item 3.            If this statement is filed pursuant to sections 240.13d-1(b)
                   or 240.13d-2(b) or (c), check whether the person filing is a:

                   (a)     [ ] Broker or dealer registered under section 15 of
                               the Act (15 U.S.C. 78o);
                   (b)     [ ] Bank as defined in section 3(a)(6) of the 
                               Act (15 U.S.C. 78c);
                   (c)     [ ] Insurance company as defined in section 3(a)(19)
                               of the Act (15 U.S.C. 78c.);
                   (d)     [ ] Investment company registered under section 8 of
                               the Investment Company Act of 1940 (15 U.S.C.
                               80a-8);
                   (e)     [ ] An investment adviser in accordance with 
                               section 240.13d-1(b)(1)(ii)(E);
                   (f)     [ ] An employee benefit plan or endowment fund in 
                               accordance with section 240.13d-1(b)(1)(ii)
                               (F);
                   (g)     [X] A parent holding company or control person in 
                               accordance with section 240.13d-1(b)(1)(ii)(G);
                   (h)     [ ] A savings associations as defined in 
                               section 3(b) of the Federal Deposit Insurance 
                               Act (12 U.S.C. 1813);
                   (i)     [ ] A church plan that is excluded from the 
                               definition of an investment company under
                               section 3(c)(14) of the Investment Company Act 
                               of 1940 (15 U.S.C. 80a-3);
                   (j)     [ ] Group, in accordance with section 240.13d-1(b)(1)
                               (ii)(J).



Item 4.            Ownership.

     Provide the following information regarding the aggregate number and 
percentage of the class of securities of the issuer identified in Item 1.

           (a).    Amount beneficially owned: 0 as September 30, 1998.

           (b).    Percent of class: 0.00%


           (c).    Number of shares as to which the person has:

                   (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 the
                            disposition of                            0

                   (iv)     Shared power to dispose or to direct the
                            disposition of                                    0


                               Page 7 of 9 Pages





<PAGE>

Item 5.            Ownership of Five Percent or Less of a  Class:

                   Yes.


Item 6.            Ownership of More Than Five Percent on Behalf of Another
                   Person:

                   Not Applicable.


Item 7.            Identification and Classification of Subsidiaries which
                   Acquired the Security Being Reported on by the Parent
                   Holding Company:

                   Friedman Billings Ramsey & Co., Inc.                   3(a)

                   Friedman Billings Ramsey Investment Management, Inc.   3(e)


Item 8.            Identification and Classification of Members of the Group:

                   Not Applicable



                               Page 8 of 9 Pages





<PAGE>

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 
                   and are held in the ordinary course of business and were
                   not acquired and are not held for the purpose of or 
                   with the effect of changing or influencing  the control of
                   the issuer of the securities and were not acquired and are 
                   not held in connection  with or as a participant in any 
                   transaction having that purpose or effect.

                   In accordance with Rule 13d-4 of the Securities Exchange Act
                   of 1934, each of the persons filing this statement expressly
                   disclaim the beneficial  ownership of the securities covered
                   by this  statement and the filing of this report shall not be
                   construed  as an  admission by such persons that they are the
                   beneficial owners of such securities.

                                  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.



                                      FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.
Dated:   October 13, 1998                   By: /s/ EMANUEL J. FRIEDMAN
                                            ---------------------------------
                                            Name:  Emanuel J. Friedman
                                            Title: Chairman

Dated:   October 13, 1998                   By: /s/ ERIC F. BILLINGS
                                           ----------------------------------
                                                Eric F. Billings

Dated:   October 13, 1998                   By: /s/ EMANUEL J. FRIEDMAN
                                           ----------------------------------
                                                Emanuel J. Friedman

Dated:   October 13, 1998                   By: /s/ W. RUSSELL RAMSEY
                                           ----------------------------------
                                                W. Russell Ramsey



                               Page 9 of 9 Pages







EXHIBIT 1

      JOINT FILING AGREEMENT AMONG FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.,
         ERIC F. BILLINGS, EMANUEL J. FRIEDMAN AND W. RUSSELL RAMSEY

     WHEREAS, in accordance with Rule 13d-1(k) under the Securities and Exchange
Act of 1934 (the "Act"),  only one joint  statement and any  amendments  thereto
need to be filed  whenever  one or more  persons  are  required  to file  such a
statement or any  amendments  thereto  pursuant to Section 13(d) of the Act with
respect to the same securities, provided that said persons agree in writing that
such statement or amendments thereto is filed on behalf of each of them;

     NOW, THEREFORE, the parties hereto agree as follows:

FRIEDMAN,  BILLINGS,  RAMSEY GROUP, INC., ERIC F. BILLINGS,  EMANUEL J. FRIEDMAN
AND W. RUSSELL RAMSEY hereby agree,  in accordance  with Rule 13d-1(k) under the
Act, to file a statement on Schedule  13G relating to their  ownership of Common
Stock of the Issuer and do hereby  further  agree that said  statement  shall be
filed on behalf of each of them.

                                        FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.
Dated:   October 13, 1998                   By: /s/ EMANUEL J. FRIEDMAN
                                            ---------------------------------
                                            Name:  Emanuel J. Friedman
                                            Title: Chairman

Dated:   October 13, 1998                   By: /s/ ERIC F. BILLINGS
                                           ----------------------------------
                                                Eric F. Billings

Dated:   October 13, 1998                   By: /s/ EMANUEL J. FRIEDMAN
                                           ----------------------------------
                                                Emanuel J. Friedman

Dated:   October 13, 1998                   By: /s/ W. RUSSELL RAMSEY
                                           ----------------------------------
                                                W. Russell Ramsey


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