UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
SECURITY FINANCIAL BANCORP, INC.
- -------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK
- -------------------------------------------------------------------------------
(Title of Class of Securities)
81424D109
- -------------------------------------------------------------------------------
(CUSIP Number)
PAUL J. DUGGAN
JACKSON BLVD FUND, LTD. - 53 W. JACKSON BOULEVARD - CHICAGO IL 60604
(312) 294-6440
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
JANUARY 19, 2000
- -------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box [ ].
Check the following box if a fee is being paid with the statement [ ]. (A
fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has
filed no amendment subsequent thereto reporting beneficial ownership of
five percent or less of such class.) (See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
<PAGE>
SCHEDULE 13D
CUSIP NO. 81424D109 PAGE 2 OF 14 PAGES
---------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paul J. Duggan
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Working Capital
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
IL
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 160,400
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
160,400
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
160,400
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.28%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 81424D109 PAGE 3 OF 14 PAGES
---------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jackson Boulevard Capital Management, Ltd.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Working Capital
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
IL
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 90,600
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
90,600
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
90,600
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.68%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 81424D109 PAGE 4 OF 14 PAGES
---------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jackson Blvd Equities, L.P.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Working Capital
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
IL
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 43,500
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
43,500
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
43,500
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.25%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 81424D109 PAGE 5 OF 14 PAGES
---------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jackson Boulevard Investments, L.P.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Working Capital
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
IL
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 27,200
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
27,200
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
27,200
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.40%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 81424D109 PAGE 6 OF 14 PAGES
---------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jackson Offshore Fund, Ltd.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Working Capital
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Tortola, B.W.I.
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 19,900
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
19,900
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
19,900
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.03%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP NO. 81424D109 PAGE 7 OF 14 PAGES
---------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jackson Boulevard Partners
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Working Capital
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
IL
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 69,800
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
69,800
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
69,800
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.60%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Page 8 of 14 Pages
This Schedule 13D filed jointly by Paul J. Duggan ("Duggan"), Jackson
Boulevard Capital Management, Ltd. ("Jackson Capital"), Jackson Boulevard
Equities, L.P. ("Jackson Equity"), Jackson Boulevard Investments, L.P. ("Jackson
Investments"), Jackson Boulevard Partners ("Jackson Partners"), and Jackson
Offshore Fund, Ltd. ("Jackson Offshore") (collectively, the "Group") on January
19, 2000, and relates to the common stock, $.01 par value (the "Common Stock"),
of Security Financial Bancorp, Inc. (the "Issuer").
Item 1. Security and Issuer
This Schedule 13D is being filed jointly by Duggan, Jackson Capital,
Jackson Equity, Jackson Investments, Jackson Partners, and Jackson Offshore and
relates to the shares of common stock of the Issuer. The address of the
principal executive offices of the Issuer is 9231 Wicker Avenue, St. John, IN
46373.
Item 2. Identity and Background
(a)-(c) Jackson Capital, a corporation incorporated under the laws of
the State of Illinois, is the sole general partner of Jackson Equity and Jackson
Investments, limited partnerships organized under the laws of the state of
Illinois and Investment Manager of Jackson Offshore, an offshore fund domiciled
in Tortola, B.W.I.
Jackson Equity, Jackson Investments, and Jackson Offshore are private
investment partnerships engaged in the purchase and sale of securities for
investment for their own accounts. Jackson Capital is in the business of serving
as the general partner of Jackson Equity, Jackson Investments, and other
investment partnerships and the Investment Manager of Jackson Offshore. Duggan
is the sole stockholder and an officer and director of Jackson Capital. Duggan's
principal occupation is money manager (through Jackson Capital) and his business
address is 53 West Jackson Boulevard, Suite 400, Chicago, IL 60604.
The business address of Jackson Capital, Jackson Equity, Jackson
Partners, Jackson Investments, Jackson Offshore and Duggan is 53 West Jackson
Boulevard, Suite 400, Chicago, IL 60604.
Jackson Partners is an Illinois General Partnership. Duggan is the
managing general partner of Jackson Partners. Jackson Partners engages in the
purchase and sales of securities for it's own account.
The joint filing agreement of the members of the Group is filed herewith
as Exhibit 1.
<PAGE>
Page 9 of 14 Pages
(d)-(e) Jackson Capital, Jackson Equity, Jackson Partners, Jackson
Investments, Jackson Offshore and Duggan have not, during the last five years,
been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors, if any), nor were either a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction as a result of which
any of them were or are subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws.
(f) Mr. Duggan is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration
As of January 28, 2000, Jackson Equity was the owner of record and the
beneficial owner of 43,500 shares acquired at a cost of $401,685. The source of
funds used by Jackson Equity to purchase the shares was Jackson Equity's working
capital. Jackson Equity, from time to time, borrows funds through customary
margin accounts with Bear Stearns Securities Corp., thus increasing its
available working capital. Jackson Equity's obligations under the margin
accounts are secured by the marginable equity securities owned by Jackson
Equity.
As of January 28, 2000, Jackson Investments was the owner of record and
the beneficial owner of 27,200 shares acquired at a cost of $251,158.50. The
source of funds used by Jackson Investments to purchase the shares was Jackson
Investment's working capital. Jackson Investments, from time to time, borrows
funds through customary margin accounts with Bear Stearns Securities Corp., thus
increasing its available working capital. Jackson Investment's obligations under
the margin accounts are secured by the marginable equity securities owned by
Jackson Investments.
As of January 28, 2000, Jackson Offshore was the owner of record and the
beneficial owner of 19,900 shares acquired at a cost of $183,676.50. The source
of funds used by Jackson Offshore to purchase the shares was Jackson Offshore's
working capital. Jackson Offshore, from time to time, borrows funds through
customary margin accounts with Bear Stearns Securities Corp., thus increasing
its available working capital. Jackson Offshore's obligations under the margin
accounts are secured by the marginable equity securities owned by Jackson
Offshore.
Jackson Capital has a 7.7% ownership interest in the funds or property
of Jackson Equity in addition to its interest as general partner of Jackson
Equity. Duggan and his wife, Deborah Duggan ("Deborah"), have invested as
limited partners in Jackson Equity.
Jackson Capital has a 4.18% ownership interest in the funds or property
of Jackson Investments in addition to its interest as general partner of Jackson
Investments.
As of January 28, 2000, Jackson Partners was the owner of record and the
beneficial owner of 69,800 shares acquired at a cost of $657,575.00. The source
of funds used by Jackson Partners to purchase the shares was Jackson Partner's
working capital. Jackson Partners, from time to time, borrows funds through
customary margin accounts with Bear Stearns Securities Corp., thus increasing
its available working capital. Jackson Partners obligations under the
<PAGE>
Page 10 of 14 Pages
margin accounts are secured by the marginable equity securities owned by Jackson
Partners. Duggan and Deborah are partners in Jackson Partners. Duggan purchased
20,000 shares in the Issuer's initial public offering (IPO) and contributed
these shares to Jackson Partners.
Item 4. Purpose of Transaction
On January 19, 2000, The Group's ownership exceeded 5% of the stock of
the Issuer. The Group has made purchases subsequently to increase its position.
All purchases are shown on Exhibit 2. Jackson Equity, Jackson Investments,
Jackson Offshore, and Jackson Partners acquired the shares for investment
purposes, and only in the ordinary course of its business or investment
activities. In the ordinary course of business, the reporting parties from time
to time evaluate holdings of securities and will continue to review the
prospects of the Issuer, and based upon such evaluation and on market
conditions, economic conditions and other relevant factors, may in the future
acquire additional shares or dispose of shares.
The Group intends to continue to evaluate the Issuer and its business
prospects and intends to consult with management of the Issuer, other
stockholders of the Common Stock or other persons to further its objectives. The
Group may make further purchases of shares of the Common Stock or may dispose of
any or all of its shares of the Common Stock at any time. At present, and except
as disclosed herein, the Group has no specific plans or proposals that relate
to, or could result in, any of the matters referred to in paragraphs (a) through
(j), inclusive, of Item 4 of Schedule 13D. The g\Group intends to continue to
explore the options available to it. The Group may, at any time or from time to
time, review or reconsider its position with respect to the Issuer and may
formulate plans with respect to matters referred to in Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) By virtue of his control over the stock personally owned by him and
that owned by Jackson Capital, Jackson Equity, Jackson Investments, Jackson
Partners and Jackson Offshore, Duggan beneficially owns all of the 160,400
shares of the common stock owned by members of the Group, constituting
approximately 8.28% of the issued and outstanding shares of the common stock,
based on the number of outstanding shares issued in the Issuer's IPO. Jackson
Equity beneficially owns 43,500 shares representing 2.25% of the outstanding
shares. Jackson Investments beneficially owns 27,200 shares representing 1.40%
of the outstanding shares. Jackson Capital beneficially owns 90,600 shares
representing 4.68% of the outstanding shares. Jackson Partners beneficially owns
69,800 shares representing 3.6% of the outstanding shares. Jackson Offshore
beneficially owns 19,900 shares representing 1.03% of the outstanding shares.
(b) Jackson Equity does not have the sole power to vote or the sole
power to dispose of any shares, rather Jackson Equity has the shared power to
vote and the shared power to dispose of 43,500 shares.
Duggan has the shared power to vote 160,400 shares and the shared
power to dispose of 160,400 shares.
<PAGE>
Page 11 of 14 Pages
Jackson Capital (as the general partner of Jackson Equity and
Jackson Investments and Investment Manager of Jackson Offshore) does not have
the sole power to vote or the sole power to dispose of any shares, rather
Jackson Capital has the shared power to vote 90,600 shares and the shared power
to dispose of 90,600 shares.
Jackson Partners has the shared power to vote or to dispose of
any of its 69,800 shares.
Jackson Investments does not have the sole power to vote or the
sole power to dispose of any shares, rather Jackson Investments has the shared
power to vote and the shared power to dispose of 27,200 shares.
Jackson Offshore does not have the sole power to vote any shares
and does not have the sole power to dispose of any shares. Jackson Offshore has
the shared power to vote 19,900 shares and the shared power to dispose of 19,900
shares.
(c) Purchases in the Last 60 Days
See Exhibit 2 attached.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Except as described above, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the persons named in
Item 2 hereof or between such persons and any other person with respect to any
securities of the Issuer, including but not limited to transfer or voting of any
other securities, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, divisions of profits or loss, or the
giving or withholding of proxies.
See Item 2 regarding disclosure of the arrangements among members of the
Group, which disclosure is incorporated herein by reference.
Item 7. Material to be Filed as Exhibits
No. Description
--- -----------
1 Joint Filing Agreement
2 Schedule of Purchases
Other. Agreement Regarding Joint Filing
The undersigned hereby agree that this statement on Schedule 13D
relating to shares of Common Stock, par value $.01 per share, of
Security Financial, be, and any amendments to this Statement will be,
filed on behalf of each of the undersigned. See Exhibit 1.
<PAGE>
Page 12 of 14 Pages
Signatures
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 31, 2000
/s/ Paul J. Duggan
----------------------------------
Paul J. Duggan, an individual
JACKSON BOULEVARD CAPITAL MANAGEMENT, LTD.
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, President
JACKSON BOULEVARD EQUITIES, L.P.
By: Jackson Boulevard Capital Management, Ltd.
General Partner
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, President
JACKSON BOULEVARD INVESTMENTS, L.P.
By: Jackson Boulevard Capital Management, Ltd.
General Partner
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, President
JACKSON OFFSHORE FUND, LTD.
By: Jackson Boulevard Capital Management, Ltd.
General Partner
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, President
JACKSON BOULEVARD PARTNERS
By: Jackson Boulevard Partners
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, Partner
<PAGE>
Page 13 of 14 Pages
Exhibit 1
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree that the Schedule 13D to which this
Joint Filing Agreement is being filed as an exhibit shall be a joint statement
filed on behalf of each of the undersigned.
Date: January 31, 2000
/s/ Paul J. Duggan
----------------------------------
Paul J. Duggan, an individual
JACKSON BOULEVARD CAPITAL MANAGEMENT, LTD.
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, President
JACKSON BOULEVARD EQUITIES, L.P.
By: Jackson Boulevard Capital Management, Ltd.
General Partner
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, President
JACKSON BOULEVARD INVESTMENTS, L.P.
By: Jackson Boulevard Capital Management, Ltd.
General Partner
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, President
JACKSON OFFSHORE FUND, LTD.
By: Jackson Boulevard Capital Management, Ltd.
General Partner
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, President
JACKSON BOULEVARD PARTNERS
By: Jackson Boulevard Partners
By: /s/ Paul J. Duggan
-------------------------------
Paul J. Duggan, Partner
<PAGE>
Page 14 of 14 Pages
Exhibit 2
Security Financial Bancorp Inc. (SFBI) - Schedule of Purchases:
Total Shares Outstanding of SFBI = 1,936,460
<TABLE>
<CAPTION>
Jackson Blvd. Equities, L.P. Jackson Offshore Fund, Ltd.
Price Price
Date Shares Cost Per Share Date Shares Cost Per Share
- ------------------------------------------------- -------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
01/05/00 10,000 93,463.00 9.3463 01/05/00 4,000 37,400.20 9.3501
01/06/00 2,500 23,384.50 9.3538 01/06/00 1,000 9,368.80 9.3688
01/06/00 3,000 28,150.00 9.3833 01/06/00 1,200 11,275.00 9.3958
01/07/00 2,500 23,175.00 9.2700 01/07/00 1,000 9,270.00 9.2700
01/14/00 4,500 41,087.50 9.1306 01/14/00 2,200 20,100.00 9.1364
01/19/00 7,000 63,462.50 9.0661 01/19/00 3,500 31,743.75 9.0696
01/25/00 7,000 63,900.00 9.1286 01/25/00 3,500 31,962.50 9.1321
01/26/00 2,800 25,925.00 9.2589 01/26/00 1,400 12,975.00 9.2679
01/28/00 4,200 39,137.50 9.3185 01/28/00 2,100 19,581.25 9.3244
--------------------------------- -----------------------------
43,500 401,685.00 9.2341 19,900 183,676.50 9.2300
JBE % ownership = 2.25% JBO % ownership = 1.03%
Jackson Blvd. Investments, L.P. Jackson Boulevard Partners
Price Price
Date Shares Cost Per Share Date Shares Cost Per Share
- ------------------------------------------------- -------------------------------------------
01/05/00 6,000 56,087.80 9.3480 01/05/00 20,000 200,000.00 10.0000 *
01/06/00 1,500 14,040.70 9.3605 01/11/00 18,000 166,500.00 9.2500
01/06/00 1,800 16,900.00 9.3889 01/14/00 4,800 43,825.00 9.1302
01/07/00 1,500 13,905.00 9.2700 01/19/00 2,500 22,681.25 9.0725
01/14/00 2,900 26,487.50 9.1336 01/19/00 5,000 45,337.50 9.0675
01/19/00 4,500 40,806.25 9.0681 01/25/00 12,000 109,525.00 9.1271
01/25/00 4,500 41,087.50 9.1306 01/26/00 3,000 27,775.00 9.2583
01/26/00 1,800 16,675.00 9.2639 01/28/00 4,500 41,931.25 9.3181
01/28/00 2,700 25,168.75 9.3218 -----------------------------
--------------------------------- 69,800 657,575.00 9.4208
27,200 251,158.50 9.2338
JBP % ownership = 3.60%
JBI % ownership = 1.40%
* Purchased in initial public offering by Paul J. Duggan.
Recap:
Total %
Shares Ownership
------------------------
JBE 43,500 2.25%
JBI 27,200 1.40%
JBO 19,900 1.03%
--------------------
EIO Total 90,600 4.68%
JBP 69,800 3.60%
--------------------
Total 160,400 8.28%
====================
</TABLE>
