UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 3) (1)
PFS BANCORP, INC.
______________________________________________________________________________
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
______________________________________________________________________________
(Title of Class of Securities)
69335R 10 1
______________________________________________________________________________
(CUSIP Number)
December 31, 2004
______________________________________________________________________________
(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)
____________________________
(1) 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 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).
Page 1 of 6 Pages
CUSIP NO. 69335R 10 1 13G/A Page 2 of 6 Pages
______________________________________________________________________________
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PFS Bancorp, Inc. Employee Stock Ownership Plan Trust
______________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
______________________________________________________________________________
3. SEC USE ONLY
______________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Indiana
______________________________________________________________________________
5. SOLE VOTING POWER
75,597
NUMBER OF ________________________________________________________________
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 46,073
EACH ________________________________________________________________
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON WITH
75,597
________________________________________________________________
8. SHARED DISPOSITIVE POWER
46,073
______________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
121,670
______________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
______________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.3%
______________________________________________________________________________
12. TYPE OF REPORTING PERSON
EP
______________________________________________________________________________
CUSIP NO. 69335R 10 1 13G/A Page 3 of 6 Pages
Item 1(a) Name of Issuer:
PFS Bancorp, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
Second and Bridgeway Streets
Aurora, Indiana 47001
Item 2(a) Name of Person Filing:
PFS Bancorp, Inc. Employee Stock Ownership Plan Trust
Item 2(b) Address of Principal Business Office or, if None, Residence:
PFS Bancorp, Inc.
Second and Bridgeway Streets
Aurora, Indiana 47001
Item 2(c) Citizenship:
Indiana
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e) CUSIP Number:
69335R 10 1
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b)
or (c), check whether the person filing is a:
(f) [X] An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F).
CUSIP NO. 69335R 10 1 13G/A Page 4 of 6 Pages
Item 4. Ownership.
(a) Amount beneficially owned:
121,670
(b) Percent of class: 8.3% (based upon 1,473,728 shares issued
and outstanding).
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 75,597
-----------
(ii) Shared power to vote or to direct the vote 46,073
---------
(iii) Sole power to dispose or to direct the disposition of 75,597
------
(iv) Shared power to dispose or to direct the disposition of
46,073
------
The PFS Bancorp, Inc. Employee Stock Ownership Plan Trust (the
"Trust") was established pursuant to the PFS Bancorp, Inc.
Employee Stock Ownership Plan ("ESOP"). Under the terms of the
ESOP, the Trustee must vote the allocated shares held in the ESOP
in accordance with the instructions of the participating
employees. Unallocated shares held in the ESOP generally will be
voted by the ESOP Trustee in the same proportion for and against
proposals to shareholders as the ESOP participants and
beneficiaries actually vote shares of Common Stock allocated to
their individual accounts, subject in each case to the fiduciary
duties of the ESOP trustees and applicable law. Any allocated
shares which either abstain on the proposal or are not voted will
be disregarded in determining the percentage of stock voted for
and against each proposal by the participants and beneficiaries.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable since the reporting entity owns more than 5% of the
class.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Dividends on Common Stock allocated to the accounts of
participating employees and their beneficiaries, to the extent
paid in the form of additional securities, are added to their
respective individual accounts. Dividends on Common Stock
allocated to the accounts of participating employees and their
beneficiaries, to the extent paid in cash, are, at the direction
of the Plan Administrator, either (i) credited to the respective
individual accounts, or (ii) used to pay principal and interest on
outstanding indebtedness incurred by the reporting person to
acquire Common Stock.
CUSIP NO. 69335R 10 1 13G/A Page 5 of 6 Pages
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company or
Control Person.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable since the reporting entity is not a member of a group.
Item 9. Notice of Dissolution of Group.
Not applicable since the reporting entity is not a member of a group.
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.
CUSIP NO. 69335R 10 1 13G/A Page 6 of 6 Pages
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.
PFS BANCORP, INC.
EMPLOYEE STOCK OWNERSHIP PLAN TRUST
February 7, 2005 By: /s/ Mel E. Green
----------------------------
Mel E. Green, Trustee
February 7, 2005 By: /s/ Stuart M. Suggs
----------------------------
Stuart M. Suggs, Trustee
February 7, 2005 By: /s/ Robert L. Laker
----------------------------
Robert L. Laker, Trustee