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                       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) May 22, 1995


                                ELDORADO BANCORP
               --------------------------------------------------
               (Exact name of Registrant as specified in charter)


      California                      1-9709                 95-3642383
- ------------------------------     -------------       --------------------
 (State or other jurisdiction       (Commission          (I.R.S. Employer
    of incorporation)               File Number)        Identification No.)


      17752 East 17th Street, Tustin California                92680
      -----------------------------------------        --------------------
       (Address of principal executive offices)              (Zip code)


 Registrant's telephone number, including area code (714) 832-4204

                                 
                                  Not Applicable
         -------------------------------------------------------------
         (Former name or former address, if changed since last report)



                               Page 1 of 100 Pages
                 Exhibit Index on Sequentially Numbered Page 4
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ITEM 5.       OTHER EVENTS

       On May 22, 1995, Eldorado Bancorp (the "Company") entered into a
definitive merger agreement pursuant to which the Company's wholly- owned
subsidiary, Eldorado Bank, will acquire, by merger, all of the outstanding
shares of common stock of Mariners Bancorp and Mariners Bancorp's wholly-owned
subsidiary, Mariners Bank, will be merged with and into Eldorado Bank, which
will be the surviving bank in that merger.  In the merger between Eldorado Bank
and Mariners Bancorp, the shareholders of Mariners Bancorp will receive one
share of common stock of the Company and $7.30 in cash, subject to certain
adjustments, for each of their shares of common stock of Mariners Bancorp.  The
completion of the transaction is subject to certain conditions, including
obtaining approval of the shareholders of the Company and Mariners Bancorp and
approval of applicable regulatory agencies.


ITEM 7.       EXHIBITS

              (c)   EXHIBITS.

              Exhibit Number

                     2.0          Agreement and Plan of Reorganization and
                                  Merger dated as of May 22, 1995, by and among
                                  Eldorado Bancorp, a California corporation,
                                  Eldorado Bank, a California state chartered
                                  bank, Mariners Bancorp, a California
                                  corporation and Mariners Bank, a California
                                  state chartered bank.

                    99.0          Press Release dated May 22, 1995.



                                                           Page 2 of 100 Pages
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                                   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.

                                      ELDORADO BANCORP



Date:  May 25, 1995                   By:   /s/ DAVID R. BROWN
                                          -------------------------------------
                                          David R. Brown,
                                          Executive Vice President




                                      
                                                            Page 3 of 100 Pages
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                                 EXHIBIT INDEX



The following exhibits are attached hereto and incorporated herein by reference:



                                                                   Sequentially
Exhibit Number                    Description                      Numbered Page
- --------------                    -----------                      -------------
                                                                   
    2.0           Agreement and Plan of Reorganization and Merger         5
                  dated as of May 22, 1995, by and among
                  Eldorado Bancorp, a California corporation
                  Eldorado Bank, a California state chartered
                  bank, Mariners Bancorp, a California
                  corporation and Mariners Bank, a California
                  state chartered bank.*

   99.0           Press Release dated May 22, 1995.                      99




*   Schedules omitted.  The Registrant shall furnish supplementally to the
    Securities and Exchange Commission a copy of any omitted schedule upon
    request.





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