8-K

3:

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 26, 2000

ALGIERS BANCORP, INC.
(Exact name of registrant as specified in its charter)

Louisiana
(State or other jurisdiction of incorporation) 0-20911
(Commission File Number) 72-1317594
(IRS Employer Identification No.)

#1 Westbank Expressway, New Orleans, Louisiana 70114
(Address of principal executive offices) (Zip Code)

(504) 367-8221
(Registrant's telephone number, including area code)

Item 5. Other Events.

On October 26, 2000, Algiers Bancorp, Inc. issued the press release attached hereto as Exhibit 99.

Item 7. Financial Statements and Exhibits.

(a) Exhibits.

99 Press release issued by Algiers Bancorp, Inc. on October 26, 2000, announcing the suspension of the Company's quarterly dividend due to regulatory requirements.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ALGIERS BANCORP, INC.

By: /S/ FRANCIS M. MINOR

Francis M. Minor
Acting President and Chief Executive Officer

Dated: October 26, 2000

EX-99

EXHIBIT 99

CONTACT: Eugene Harris,
Executive Vice President and Chief Financial Officer
367-8221

ALGIERS BANCORP, INC. SUSPENDS DIVIDEND

NEW ORLEANS, LOUISIANA (October 26, 2000) - The Board of Directors of Algiers Bancorp, Inc. (OTC, OTCBB), responding to regulatory requirements, announced today that it has suspended payment of its quarterly 5 cent-per-share dividend for the quarter ended September 30, 2000, on the 506,348 total outstanding common stock held by its shareholders.

Acting President and Chief Executive Officer, Francis M. Minor, indicated the action was taken in response to limitations stipulated under the Supervisory Agreement which Algiers Homestead Association, the Company's subsidiary (the "Association") entered into with the Louisiana Office of Financial Institutions ("OFI") and the Federal Office of Thrift Supervision ("OTS") on April 17, 2000.

Algiers has been in discussions with OFI and OTS since the fourth quarter 1999 when on November 29, 1999 OFI and OTS issued a preliminary supervisory agreement as a result of their examination of the Association. The Association wishes to cooperate with OTS and OFI and to evidence its intent to comply with all applicable laws and regulations, and engage in safe and sound practices.

Algiers Bancorp, Inc. is the holding company of Algiers Homestead Association, a Louisiana-chartered stock savings and loan association whose market area consists of Orleans, Jefferson and Plaquemines Parishes in the New Orleans, Louisiana metropolitan statistical area.