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

FORM 4

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(h) of the Investment Company Act of 1940

o	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Name and Address of Reporting
Person*

Issuer Name and Ticker or Trading
Symbol

I.R.S. Identification Number of Reporting
Person, if an entity (Voluntary)

Vanden Robert L.

(Last) (First) (Middle)

LOCAL FINANCIAL CORPORATION (LFIN)

c/o Local Financial Corporation
3601 N.W. 63rd Street

(Street)

Statement for Month/Day/Year

If Amendment, Date of Original (Month/Day/Year)

September 2002

Relationship of Reporting Person(s)
to Issuer (Check All Applicable)

Individual or Joint/Group Filing
(Check Applicable Line)

Oklahoma City, OK 73116

(City) (State) (Zip)

Director

10% Owner

Form Filed by One Reporting Person

Officer (give title below)

Form Filed by More than One Reporting Person

Other (specify below)

Reminder:		Report on a separate line for each class of securities beneficially owned directly or indirectly.

*		If the form is filed by more than one reporting person, see instruction 4(b)(v).

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

Title of Security
(Instr. 3)

Transaction
Date
(Month/Day/Year)

2A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5)

Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)
(Instr. 3 and 4)

Ownership
Form:
Direct (D) or
Indirect (I)
(Instr. 4)

Nature of
Indirect
Beneficial
Ownership
(Instr. 4)

Code

Amount

(A)
or
(D)

Price

Common Stock

2,000

Page 2

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

Title of Derivative
Security
(Instr. 3)

Conversion or Exercise
Price of Derivative
Security

Transaction
Date
(Month/Day/Year)

3A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Number of Derivative Securities
Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

Code

(A)

(D)

Options

$13.31

09/25/02

5,000

Page 3


Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued (e.g., puts, calls, warrants, options, convertible securities)

6.	Date Exercisable and Expiration Date (Month/Day/Year)		7.	Title and Amount of Underlying Securities (Instr. 3 and 4)		8.	Price of Derivative Security (Instr. 5)	9.	Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)		10.	Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11.	Nature of Indirect Beneficial Ownership (Instr. 4)

	Date Exercisable	Expiration Date		Title	Amount or Number of Shares

	(1)	09/23/08		Common Stock	25,000					25,000		D

	(1)	11/17/09		Common Stock	10,000					35,000		D

	(2)	08/23/10		Common Stock	15,000					50,000		D

	(3)	04/09/12		Common Stock	5,000					55,000		D

	(4)	09/25/07		Common Stock	5,000					60,000		D

Explanation of Responses:

(1) These options are fully vested and exercisable. Two-fifths of options are vested with 1/5 of the shares becoming vested on 11/17/2002, 1/5 on 11/17/2003 and 1/5 on 11/17/2004.

(2) Two-fifths of options are vested with 1/5 of shares becoming vested on 08/23/2003, 1/5 on 08/23/2004 and 1/5 on 08/23/2005.

(3) Options become vested with respect to 1/5 on 04/09/2003, 1/5 on 04/09/2004, 1/5 on 04/09/2005, 1/5 on 04/09/2006, and 1/5 on 04/09/2007.

(4) Options become vested with respect to 1/5 on 09/25/2003, 1/5 on 09/25/2004, 1/5 on 09/25/2005, 1/5 on 09/25/2006 and 1/5 on 09/25/2007.

/s/ Robert L. Vanden		10/22/02
**Signature of Reporting Person		Date

**		Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:		File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Page 4

VANDEN ROBERT L 4