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                                    FORM 8-K

                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.   20549

                                 CURRENT REPORT

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


     Date of Report (Date of earliest event reported): March 16, 1998


                             St. Paul Bancorp, Inc.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)



Delaware                          01-15580                        36-3504665
- --------------------------------------------------------------------------------
(State or other                   (Commission                     (IRS Employer
jurisdiction of                   File Number)                    Identification
incorporation)                                                     No.)



6700 West North Avenue
Chicago, Illinois                                                    60707
- --------------------------------------------------------------------------------
(Address of principal executive office)                            (Zip Code)


       Registrant's telephone number, including area code: (773) 622-5000
                                                           --------------


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






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Item 5. Other Events

     St. Paul Bancorp, Inc. (the "Company") announced on March 16, 1998 that
its annual meeting of stockholders will be held on Wednesday, May 6, 1998 at
10:00 a.m. at the Drury Lane Oakbrook, 100 Drury Lane, Oakbrook Terrace,
Illinois 60181.  The record date for the meeting will be March 17, 1998.  In
accordance with the Company's bylaws, stockholders who wish to present business
at the annual meeting or to nominate directors are required to give notice to
the Company and provide information specified in the bylaws no later than April
6, 1998.

     A copy of the press release dated March 16, 1998 is attached as an
exhibit.




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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.


                                               ST. PAUL BANCORP, INC.   
                                               ---------------------------
                                               (Registrant)             
                                                                        
                                                                        
                                               /s/ Patrick J. Agnew     
                                               ---------------------------
                                               Patrick J. Agnew         
                                               President                




Attest:



/s/ Clifford M. Sladnick
- ---------------------------
Clifford M. Sladnick
Senior Vice President, General Counsel
and Corporate Secretary



Date: March 17, 1998

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