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 TO 1934

       Date of Report (Date of Earliest Event Reported): October 30, 2000

                              SIENA HOLDINGS, INC.
                ------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    Delaware
         --------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)

        1-6868                                               75-1043392
----------------------------                          --------------------------
(Commission File Number)                                   (IRS Employer
                                                        Identification No.)

5068 West Plano Parkway, Suite 300, Plano, Texas                   75093
------------------------------------------------             -----------------
    (Address of principal executive offices)                     (Zip code)

                                 (972) 381-4255
              ----------------------------------------------------
              (Registrant's telephone number, including area code)

                           Lomas Financial Corporation
          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

Item 2. ACQUISITION OR DISPOSITION OF ASSETS.

On October 30, 2000, as part of our ordinary course of business the Company
completed the sale of approximately 5.6 acres of property zoned commercial
located in Allen Texas to 75 Exchange Partners, LP, an unaffiliated partnership.
Net cash proceeds from the sale totaled approximately $1.2 million. Accordingly,
the Company expects to report a gain on the sale of approximately $800,000 in
its fiscal quarter ended December 31, 2000. This sale is consistent with the
Company's core business of real estate management, sale and development.

Item 7. FINANCIAL STATEMENTS AND EXHIBITS

        ( a )        None.

        ( b )        None.

        ( c )        None.

                                   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 thereunto duly authorized.

                                        SIENA HOLDINGS, INC.


Date: October 30, 2000                  By: /s/ W. Joseph Dryer
                                            ------------------------------------
                                        W. Joseph Dryer
                                        President
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{"company-data": {"conformed-name": "SIENA HOLDINGS INC", "cik": "0000060150", "assigned-sic": "6162", "irs-number": "751043392", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-06868", "film-number": "749457"}, "business-address": {"street1": "1600 VICEROY DR 8TH FLOOR", "city": "DALLAS", "state": "TX", "zip": "75235", "phone": "2148794000"}, "mail-address": {"street1": "1600 VICEROY DR", "street2": "8TH FLOOR", "city": "DALLAS", "state": "TX", "zip": "75235"}, "former-company": [{"former-conformed-name": "LOMAS FINANCIAL CORP", "date-changed": "19920703"}, {"former-conformed-name": "LOMAS & NETTLETON FINANCIAL CORP", "date-changed": "19881030"}]}
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 TO 1934

       Date of Report (Date of Earliest Event Reported): October 30, 2000

                              SIENA HOLDINGS, INC.
                ------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    Delaware
         --------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)

        1-6868                                               75-1043392
----------------------------                          --------------------------
(Commission File Number)                                   (IRS Employer
                                                        Identification No.)

5068 West Plano Parkway, Suite 300, Plano, Texas                   75093
------------------------------------------------             -----------------
    (Address of principal executive offices)                     (Zip code)

                                 (972) 381-4255
              ----------------------------------------------------
              (Registrant's telephone number, including area code)

                           Lomas Financial Corporation
          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

Item 2. ACQUISITION OR DISPOSITION OF ASSETS.

On October 30, 2000, as part of our ordinary course of business the Company
completed the sale of approximately 5.6 acres of property zoned commercial
located in Allen Texas to 75 Exchange Partners, LP, an unaffiliated partnership.
Net cash proceeds from the sale totaled approximately $1.2 million. Accordingly,
the Company expects to report a gain on the sale of approximately $800,000 in
its fiscal quarter ended December 31, 2000. This sale is consistent with the
Company's core business of real estate management, sale and development.

Item 7. FINANCIAL STATEMENTS AND EXHIBITS

        ( a )        None.

        ( b )        None.

        ( c )        None.

                                   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 thereunto duly authorized.

                                        SIENA HOLDINGS, INC.

Date: October 30, 2000                  By: /s/ W. Joseph Dryer
                                            ------------------------------------
                                        W. Joseph Dryer
                                        President