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                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


                                    FORM 8-K

                                 CURRENT REPORT


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


                                Date of Report:
                                 APRIL 13, 1995



                                  BKLA BANCORP


                 State or other jurisdiction of incorporation:
                                   CALIFORNIA

                            Commission File Number:
                                    0-12851

                      IRS Employer Identification Number:
                                   95-3840703

                    Address of Principal executive offices:
         8901 SANTA MONICA BOULEVARD, WEST HOLLYWOOD, CALIFORNIA  90069

                         Registrant's telephone number:
                                 (310) 550-8900


                                 NOT APPLICABLE
         (Former name or former address, if changed since last report)
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Item 1.          Changes in Control of Registrant.

                 The new controlling interest of BKLA Bancorp ("BKLA") is
                 Investors Banking Corporation ("IBC"), a bank holding company
                 located in Salem, Oregon.  The prior controlling persons of
                 BKLA were Arlen H. Andelson, Sherman Andelson, Mary Anne
                 Chalker, Irving Fuller, and Warner G. Scharff, collectively.
                 On March 29, 1995, IBC made a capital infusion in the amount
                 of $3,028,509.00 through the purchase of 2,019,006 units of
                 securities ("Unit").  Each Unit was comprised of two shares of
                 BKLA's Common Stock, no par value ("Common Stock"), and one
                 warrant, exercisable for three years after issuance, to
                 purchase Common Stock at $.75 per share.  On March 30, 1995, a
                 second capital infusion occurred whereby IBC purchased an
                 additional 346,874 Units for $520,311.00.  As a result of the
                 two capital infusion transactions on March 29 , 1995 and March
                 30, 1995, IBC purchased 4,731,760 shares of Common Stock
                 representing 79% of the total shares issued and outstanding as
                 of March 31, 1995.  The ownership of these voting securities
                 is the basis of control.  The amount and source of
                 consideration was $3,548,820.00 in cash for 2,365,880 Units.
                 There were no loans or pledges obtained by IBC for the purpose
                 of acquiring control of BKLA.

                 There are no arrangements or understandings among the former
                 control group and its associates on the one hand, and IBC.
                 The only other matter that has been agreed to is that an
                 offering of rights (Rights Offering) to purchase Common Stock
                 for the Company's shareholders other than IBC.  The Rights
                 Offering will allow the Company's shareholders, other than
                 IBC, to increase their collective ownership in the Company to
                 approximately 45%.  IBC will purchase any securities not
                 purchased by the other shareholders up to a maximum of
                 $2,000,000.00.

Item 2.          Acquisition or Disposition of Assets

                 None

Item 3.          Bankruptcy or Receivership

                 None

Item 4.          Changes in Registrant's Certifying Accountant

                 None





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Item 5.          Other Events

                 None

Item 6.          Resignations of Registrant's Directors

                 None

Item 7.          Financial Statements, Pro Forma Financial Information and
                 Exhibits

                 a and b.                  Financial Statements

                                           None

                 c.                        Exhibits

                                           None

Item 8.          Change in Fiscal Year

                 None





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                                   SIGNATURES

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



                                             BKLA BANCORP



April 12, 1995                               By:  /s/ M.J. Burford
                                                _____________________
                                                M.J. Burford 
                                                Chairman of the Board
                                                and Chief Executive Officer





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