SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
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 31, 1998
FIRST ENTERPRISE FINANCIAL GROUP, INC.
(Exact Name of Registrant as Specified in Charter)
ILLINOIS 0-21075 36-3688499
(State or other (Commission File Number) (IRS Employer Identification No.)
Jurisdiction of
Incorporation)
500 DAVIS STREET, SUITE 1005
EVANSTON, ILLINOIS 60201
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: (847) 866-8665
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS
On March 31, 1998, First Enterprise Financial Group,
Inc. (the "Registrant") announced that the three companies
for which the Registrant provides servicing of motor
vehicle installment sale contracts have advised the
Registrant that each of them intends to terminate the
Registrant's servicing obligations under various Servicing
Agreements and transfer those servicing obligations to a
replacement servicing company. The Registrant has been
informed that the transfer of servicing will be concluded
during April 1998. After that time, the Registrant will
have no income to support its operations. The Registrant
does not anticipate that it will be able to obtain
additional financing for continued operations and thus will
cease all operations. Based upon preliminary indications,
the Registrant believes that it is unlikely that any assets
will remain for distribution to the common shareholders in
the event of a liquidation. The Registrant announced on
March 12, 1998 that it and its wholly owned subsidiary,
First Enterprise Acceptance Company, had each filed a
petition in the United States Bankruptcy Court for the
Northern District of Illinois for protection under Chapter
11 of the United States Bankruptcy Code.
<PAGE>
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.
FIRST ENTERPRISE FINANCIAL
GROUP, INC.
(Registrant)
By: /S/ MICHAEL P. HARRINGTON
Michael P. Harrington
President, Chief Executive Officer
and Director
Dated: April 2, 1998
