<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
SCHEDULE 13D
UNDER THE EXCHANGE ACT OF 1934
(Amendment No. 4 )
---
BANK PLUS CORPORATION
---------------------
(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
----------------------------
(Title and Class of Securities)
064446107
---------
(CUSIP Number)
Richard J. Perry, Jr., Esquire
Perry & Associates, P.C.
1826 Jefferson Place, N.W.
Washington, D. C. 20036
(202) 775-8109
-----------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
December 7, 1998
-----------------------
(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.)
Exhibit Index at page 23
Page 1 of 26 Pages
<PAGE> 2
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
CUSIP NUMBER 064446107 PAGE 2 OF 26 PAGES
--- ----
- -------------------------------------------------------------------------------
<S> <C>
1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF
ABOVE PERSON
Financial Institution Partners, L.P. / 52-1899611
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
- -------------------------------------------------------------------------------
3. SOURCE OF FUNDS
WC OO
- -------------------------------------------------------------------------------
4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e)
NO
- -------------------------------------------------------------------------------
5. CITIZENSHIP OR PLACE OF ORIGIN
Organized: State of Delaware
- -------------------------------------------------------------------------------
NUMBER OF 6. SOLE VOTING POWER
SHARES
OWNED BY -------------------------------------------------------------
EACH 7. SHARED VOTING POWER
REPORTING 917,100 SHARES
PERSON WITH -------------------------------------------------------------
8. SOLE DISPOSITIVE POWER
-------------------------------------------------------------
9. SHARED DISPOSITIVE POWER
917,100 SHARES
- -------------------------------------------------------------------------------
10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
917,100 SHARES
- -------------------------------------------------------------------------------
11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES?
NO
- -------------------------------------------------------------------------------
12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
4.72%
- -------------------------------------------------------------------------------
13. TYPE OF REPORTING PERSON
PN
- -------------------------------------------------------------------------------
</TABLE>
Page 2 of 26 Pages
<PAGE> 3
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
CUSIP NUMBER 064446107 PAGE 3 OF 26 PAGES
--- ----
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<S> <C>
1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF
ABOVE PERSON
Hovde Capital, Inc. / 52-1891904
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
- -------------------------------------------------------------------------------
3. SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e)
NO
- -------------------------------------------------------------------------------
5. CITIZENSHIP OR PLACE OF ORIGIN
Incorporated: State of Delaware
- -------------------------------------------------------------------------------
NUMBER OF 6. SOLE VOTING POWER
SHARES
OWNED BY -------------------------------------------------------------
EACH 7. SHARED VOTING POWER
REPORTING 917,100 SHARES
PERSON WITH -------------------------------------------------------------
8. SOLE DISPOSITIVE POWER
-------------------------------------------------------------
9. SHARED DISPOSITIVE POWER
917,100 SHARES
- -------------------------------------------------------------------------------
10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
917,100 SHARES
- -------------------------------------------------------------------------------
11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES?
NO
- -------------------------------------------------------------------------------
12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
4.72%
- -------------------------------------------------------------------------------
13. TYPE OF REPORTING PERSON
CO
- -------------------------------------------------------------------------------
</TABLE>
Page 3 of 26 Pages
<PAGE> 4
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
CUSIP NUMBER 064446107 PAGE 4 OF 26 PAGES
--- ----
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<S> <C>
1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF
ABOVE PERSON
Financial Institution Partners II, L.P. / 36-4131559
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
- -------------------------------------------------------------------------------
3. SOURCE OF FUNDS
WC OO
- -------------------------------------------------------------------------------
74. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e)
NO
- -------------------------------------------------------------------------------
5. CITIZENSHIP OR PLACE OF ORIGIN
Organized: State of Delaware
- -------------------------------------------------------------------------------
NUMBER OF 6. SOLE VOTING POWER
SHARES
OWNED BY -------------------------------------------------------------
EACH 7. SHARED VOTING POWER
REPORTING 808,967 SHARES
PERSON WITH -------------------------------------------------------------
8. SOLE DISPOSITIVE POWER
-------------------------------------------------------------
9. SHARED DISPOSITIVE POWER
808,967 SHARES
- -------------------------------------------------------------------------------
10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
808,967 SHARES
- -------------------------------------------------------------------------------
11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES?
NO
- -------------------------------------------------------------------------------
12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
4.17%
- -------------------------------------------------------------------------------
13. TYPE OF REPORTING PERSON
PN
- -------------------------------------------------------------------------------
</TABLE>
Page 4 of 26 Pages
<PAGE> 5
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
CUSIP NUMBER 064446107 PAGE 5 OF 26 PAGES
--- ----
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<S> <C>
1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF
ABOVE PERSON
Hovde Capital, L.L.C. / 91-1825712
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
- -------------------------------------------------------------------------------
3. SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e)
NO
- -------------------------------------------------------------------------------
5. CITIZENSHIP OR PLACE OF ORIGIN
Organized: State of Nevada
- -------------------------------------------------------------------------------
NUMBER OF 6. SOLE VOTING POWER
SHARES
OWNED BY -------------------------------------------------------------
EACH 7. SHARED VOTING POWER
REPORTING 808,967 SHARES
PERSON WITH -------------------------------------------------------------
8. SOLE DISPOSITIVE POWER
-------------------------------------------------------------
9. SHARED DISPOSITIVE POWER
808,967 SHARES
- -------------------------------------------------------------------------------
10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
808,967 SHARES
- -------------------------------------------------------------------------------
11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES?
NO
- -------------------------------------------------------------------------------
12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
4.17%
- -------------------------------------------------------------------------------
13. TYPE OF REPORTING PERSON
CO
- -------------------------------------------------------------------------------
</TABLE>
Page 5 of 26 Pages
<PAGE> 6
<TABLE>
<CAPTION>
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CUSIP NUMBER 064446107 PAGE 6 OF 26 PAGES
--- ----
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<S> <C>
1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF
ABOVE PERSON
Hancock Park Acquisition, L.P. / 36-4081806
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
- -------------------------------------------------------------------------------
3. SOURCE OF FUNDS
WC OO
- -------------------------------------------------------------------------------
4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e)
NO
- -------------------------------------------------------------------------------
5. CITIZENSHIP OR PLACE OF ORIGIN
Organized: State of Delaware
- -------------------------------------------------------------------------------
NUMBER OF 6. SOLE VOTING POWER
SHARES
OWNED BY -------------------------------------------------------------
EACH 7. SHARED VOTING POWER
REPORTING 651,260 SHARES
PERSON WITH -------------------------------------------------------------
8. SOLE DISPOSITIVE POWER
-------------------------------------------------------------
9. SHARED DISPOSITIVE POWER
651,260 SHARES
- -------------------------------------------------------------------------------
10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
651,260 SHARES
- -------------------------------------------------------------------------------
11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES?
NO
- -------------------------------------------------------------------------------
12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
3.35%
- -------------------------------------------------------------------------------
13. TYPE OF REPORTING PERSON
PN
- -------------------------------------------------------------------------------
</TABLE>
Page 6 of 26 Pages
<PAGE> 7
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
CUSIP NUMBER 064446107 PAGE 7 OF 26 PAGES
--- ----
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<S> <C>
1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF
ABOVE PERSON
Hancock Park Acquisition, L.L.C. / 36-4068512
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
- -------------------------------------------------------------------------------
3. SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e)
NO
- -------------------------------------------------------------------------------
5. CITIZENSHIP OR PLACE OF ORIGIN
Organized: State of Illinois
- -------------------------------------------------------------------------------
NUMBER OF 6. SOLE VOTING POWER
SHARES
OWNED BY -------------------------------------------------------------
EACH 7. SHARED VOTING POWER
REPORTING 651,260 SHARES
PERSON WITH -------------------------------------------------------------
8. SOLE DISPOSITIVE POWER
-------------------------------------------------------------
9. SHARED DISPOSITIVE POWER
651,260 SHARES
- -------------------------------------------------------------------------------
10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
651,260 SHARES
- -------------------------------------------------------------------------------
11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES?
NO
- -------------------------------------------------------------------------------
12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
3.35%
- -------------------------------------------------------------------------------
13. TYPE OF REPORTING PERSON
CO
- -------------------------------------------------------------------------------
</TABLE>
Page 7 of 26 Pages
<PAGE> 8
<TABLE>
<CAPTION>
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CUSIP NUMBER 064446107 PAGE 8 OF 26 PAGES
--- ----
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<S> <C>
1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF
ABOVE PERSON
Western Acquisition Partners, L.P. / 36-4081807
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
- -------------------------------------------------------------------------------
3. SOURCE OF FUNDS
WC OO
- -------------------------------------------------------------------------------
4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e)
NO
- -------------------------------------------------------------------------------
5. CITIZENSHIP OR PLACE OF ORIGIN
Organized: State of Delaware
- -------------------------------------------------------------------------------
NUMBER OF 6. SOLE VOTING POWER
SHARES
OWNED BY -------------------------------------------------------------
EACH 7. SHARED VOTING POWER
REPORTING 140,000 SHARES
PERSON WITH -------------------------------------------------------------
8. SOLE DISPOSITIVE POWER
-------------------------------------------------------------
9. SHARED DISPOSITIVE POWER
140,000 SHARES
- -------------------------------------------------------------------------------
10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
140,000 SHARES
- -------------------------------------------------------------------------------
11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES?
NO
- -------------------------------------------------------------------------------
12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
0.72%
- -------------------------------------------------------------------------------
13. TYPE OF REPORTING PERSON
PN
- -------------------------------------------------------------------------------
</TABLE>
Page 8 of 26 Pages
<PAGE> 9
<TABLE>
<CAPTION>
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CUSIP NUMBER 064446107 PAGE 9 OF 26 PAGES
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<S> <C>
1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF
ABOVE PERSON
Western Acquisitions, L.L.C. / 36-4068258
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
- -------------------------------------------------------------------------------
3. SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO
ITEMS 2(d) AND 2(e)
NO
- -------------------------------------------------------------------------------
5. CITIZENSHIP OR PLACE OF ORIGIN
Organized: State of Illinois
- -------------------------------------------------------------------------------
NUMBER OF 6. SOLE VOTING POWER
SHARES
OWNED BY -------------------------------------------------------------
EACH 7. SHARED VOTING POWER
REPORTING 140,000 SHARES
PERSON WITH -------------------------------------------------------------
8. SOLE DISPOSITIVE POWER
-------------------------------------------------------------
9. SHARED DISPOSITIVE POWER
140,000 SHARES
- -------------------------------------------------------------------------------
10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
140,000 SHARES
- -------------------------------------------------------------------------------
11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES?
NO
- -------------------------------------------------------------------------------
12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
0.72%
- -------------------------------------------------------------------------------
13. TYPE OF REPORTING PERSON
CO
- -------------------------------------------------------------------------------
</TABLE>
Page 9 of 26 Pages
<PAGE> 10
ITEM 1. SECURITY AND BANK
The class of security to which this statement relates is the common
stock, par value $.01 per share (the "Shares"), of Bank Plus Corporation (the
"Company"). The address of the principal executive offices of the Company is
4565 Colorado Boulevard, Los Angeles, CA 90039.
ITEM 2. IDENTITY AND BACKGROUND
The persons filing this statement are Financial Institution Partners,
L.P., Financial Institution Partners II, L.P., Hancock Park Acquisition,
L.P., Western Acquisition Partners, L.P. (the "Limited Partnerships"), Hovde
Capital, Inc., Hovde Capital, L.L.C., Hancock Park Acquisition, L.L.C., and
Western Acquisitions, L.L.C. (the "General Partners"), who are collectively
referred to herein as the "Reporting Persons." The Limited Partnerships are
Delaware limited partnerships formed for the purpose of investing in, among
other things, the equity securities of various financial institutions. Hovde
Capital, Inc., a Delaware corporation, is the general partner of Financial
Institution Partners, L.P. Hovde Capital, L.L.C., a Nevada limited liability
company, is the general partner of Financial Institution Partners II, L.P.
Hancock Park Acquisition, L.L.C., an Illinois limited liability company, is
the general partner of Hancock Park Acquisition, L.P. Western Acquisitions,
L.L.C., an Illinois limited liability company, is the general partner of
Western Acquisition Partners, L.P.
Attached as Schedule 1 hereto and incorporated by reference herein is a
list containing the principal business and the address of its principal
business and office for the Limited Partnerships and the General Partners, as
well as information required by (a) through (f) of this Item as to each
executive officer, director and/or controlling person of the General Partners
who are Reporting Persons. The General Partners control the Limited
Partnerships.
None of the Reporting Persons or executive officers, directors or
controlling persons of the General Partners have, during the last five years,
been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is 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 of any violation with respect to
such laws.
The Reporting Persons do not believe that they constitute a "group"
within the meaning of Section 13(d)(3) of the Securities Exchange Act of
1934, as amended. Nevertheless, the Reporting Persons are making this filing
because of the possibility that they may be deemed a group, although each of
the Reporting Persons disclaims any membership in, and the existence of, such
a group. Neither the making of this filing nor any statement contained
herein shall be deemed to be an admission by any of the Reporting Persons
that a group exists.
Page 10 of 26 Pages
<PAGE> 11
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Information regarding the source and amount of funds used by the
Reporting Persons in acquiring beneficial ownership of their Shares is set
forth in Schedule 2 attached hereto and incorporated herein by reference.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons have acquired the Shares for investment purposes
and as set forth below:
(a) Each of the Reporting Persons may independently acquire additional
Shares or dispose of some or all of its Shares.
(b) The Office of Thrift Supervision ("OTS") accepted, by letter dated
November 30, 1998, a Rebuttal of Rebuttable Determination of Control Under
Part 574 (the "Rebuttal") filed by the Reporting Persons pursuant to the
Acquisition of Control Regulations (12 C.F.R. part 574), to rebut the
presumption of control of the Company that will arise when the Reporting
Persons, in concert, acquire more than 10% of the voting stock of the Company
and, thereby, become one of the Company's two largest shareholders. An
affiliate of the Reporting Persons, Pacific Financial Investors, Ltd. rather
than Hovde Acquisitions, L.L.C., filed a Rebuttal.
(c) None.
(d) None.
(e) None.
(f) None.
(g) None.
(h) None.
(i) None.
(j) None.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY
(a), (b) Schedule 3 hereto, which is incorporated by reference herein,
sets forth, as of December 14, 1998, information relating to the aggregate
number of Shares of the Company and
Page 11 of 26 Pages
<PAGE> 12
the percentage of the outstanding Shares of the Company as of such date (based
upon information provided by the Company, there are 19,419,778 Shares
outstanding as of that date) as to each of the Reporting Persons. With respect
to the Shares set forth on Schedule 3, by virtue of their control over each
respective Limited Partnership, all decisions regarding voting and disposition
of the Shares beneficially owned by each Limited Partnership are made by its
respective General Partner acting through its chief executive officer or
president. As such, the Limited Partnerships and the General Partners share
voting and investment power with respect to those Shares. None of the General
Partners, their executive officers, directors or controlling persons
beneficially owns any Shares personally or otherwise, except for the Shares
owned by the Partnerships.
(c) Schedule 4 hereto, which is incorporated by reference herein,
describes, as of December 14, 1998, transactions in the Shares effected
during the past sixty (60) days by the Reporting Persons.
(d) None.
(e) Not applicable.
Each of the Reporting Persons disclaims beneficial ownership of Shares
beneficially owned by any of the other Reporting Persons.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE COMPANY
None.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS
Exhibit A - Consent Agreement pursuant to 17 C.F.R. Section 13d-1(f)(1)
Exhibit B - [OMITTED - - FILED PURSUANT TO REQUEST FOR CONFIDENTIAL
TREATMENT] (Incorporated by reference to Amendment No. 3, filed
with the Securities and Exchange Commission (the "Commission") on
December 4, 1998)]
Exhibit C - Customer Agreement between NationsBanc Montgomery
Securities and Financial Institution Partners II, L.P.
(Incorporated by reference to Amendment No. 3, filed with the
Commission on December 4, 1998)
Exhibit D - Prime Broker Agreement between NationsBanc Montgomery
Securities and Financial Institution Partners II, L.P.
(Incorporated by reference to Amendment No. 3, filed with the
Commission on December 4, 1998)
Exhibit E - Partnership Agreement between NationsBanc Montgomery
Securities and Financial Institution Partners II, L.P.
(Incorporated by reference to Amendment No. 3, filed with the
Commission on December 4, 1998)
Page 12 of 26 Pages
<PAGE> 13
Exhibit F - Customer Agreement between NationsBanc Montgomery
Securities and Financial Institution Partners, L.P. (Incorporated
by reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit G - Prime Broker Agreement between NationsBanc Montgomery
Securities and Financial Institution Partners, L.P. (Incorporated
by reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit H - Partnership Agreement between NationsBanc Montgomery
Securities and Financial Institution Partners, L.P. (Incorporated
by reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit I - Customer Agreement between NationsBanc Montgomery
Securities and Hancock Park Acquisition, L.P. (Incorporated by
reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit J - Prime Broker Agreement between NationsBanc Montgomery
Securities and Hancock Park Acquisition, L.P. (Incorporated by
reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit K - Partnership Agreement between NationsBanc Montgomery
Securities and Hancock Park Acquisition, L.P. (Incorporated by
reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit L - Customer Agreement between NationsBanc Montgomery
Securities and Western Acquisition Partners, L.P. (Incorporated
by reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit M - Prime Broker Agreement between NationsBanc Montgomery
Securities and Western Acquisition Partners, L.P. (Incorporated
by reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit N - Partnership Agreement between NationsBanc Montgomery
Securities and Western Acquisition Partners, L.P. (Incorporated
by reference to Amendment No. 3, filed with the Commission on
December 4, 1998)
Page 13 of 26 Pages
<PAGE> 14
SIGNATURES
After reasonable inquiry and to the best of his/its knowledge and
belief, each of the undersigned Reporting Persons certifies that the
information set forth in this statement with respect to him/it is true,
complete and correct.
FINANCIAL INSTITUTION PARTNERS, L.P., by
its General Partner, HOVDE CAPITAL, INC.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: President
HOVDE CAPITAL, INC.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: President
FINANCIAL INSTITUTION PARTNERS II, L.P.,
by its General Partner, HOVDE CAPITAL,
L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Managing Member
HOVDE CAPITAL, L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Managing Member
HANCOCK PARK ACQUISITION, L.P., by its
General Partner, HANCOCK PARK
ACQUISITION, L.L.C..
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Member
Page 14 of 26 Pages
<PAGE> 15
HANCOCK PARK ACQUISITION, L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Member
WESTERN ACQUISITION PARTNERS, L.P., by
its General Partner, WESTERN
ACQUISITIONS, L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Managing Member
WESTERN ACQUISITIONS, L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Managing Member
Dated: 12/14/98
-----------------
Page 15 of 26 Pages
<PAGE> 16
SCHEDULE 1
INFORMATION RELATING TO REPORTING PERSONS
<TABLE>
<CAPTION>
PRINCIPAL BUSINESS AND
ADDRESS OF PRINCIPAL BUSINESS
NAME OR PRINCIPAL OFFICE
---- -----------------------------
<S> <C>
Financial Institution Partners, L.P. Limited partnership formed to make
investments primarily in
equity securities of
financial institutions.
1629 Colonial Parkway
Inverness, Illinois 60067
Organized: State of Delaware
Hovde Capital, Inc. Corporation formed to serve as the
general partner of Financial
Institution Partners, L.P.
1629 Colonial Parkway
Inverness, Illinois 60067
Incorporated: State of
Delaware
Financial Institution Partners II, L.P. Limited partnership formed to
make investments primarily in
equity securities of
financial institutions and
financial services companies.
1629 Colonial Parkway
Inverness, Illinois 60067
Organized: State of Delaware
Hovde Capital, L.L.C. Limited liability company
formed to serve as the
general partner of Financial
Institution Partners II, L.P.
1629 Colonial Parkway
Inverness, Illinois 60067
Organized: State of Nevada
Hancock Park Acquisition, L.P. Limited partnership formed to make
investments primarily in
equity securities of
financial institutions.
1629 Colonial Parkway
Inverness, Illinois 60067
Organized: State of Delaware
</TABLE>
Page 16 of 26 Pages
<PAGE> 17
<TABLE>
<S> <C>
Hancock Park Acquisition, L.L.C. Limited liability company
formed to serve as the
general partner of Hancock
Park Acquisition, L.P.
1629 Colonial Parkway
Inverness, Illinois 60067
Organized: State of Illinois
Western Acquisition Partners, L.P. Limited partnership formed to make
investments primarily in
equity securities of
financial institutions.
1629 Colonial Parkway
Inverness, Illinois 60067
Organized: State of Delaware
Western Acquisitions, L.L.C. Limited liability company
formed to serve as the
general partner of Western
Acquisition Partners, L.P.
1629 Colonial Parkway
Inverness, Illinois 60067
Organized: State of Illinois
</TABLE>
Page 17 of 26 Pages
<PAGE> 18
INFORMATION RELATING TO EXECUTIVE OFFICERS, DIRECTORS AND/OR
CONTROLLING PERSONS
<TABLE>
<CAPTION>
NAME PRINCIPAL OCCUPATION
ADDRESS BUSINESS ADDRESS CITIZENSHIP
- ------- ---------------- -----------
<S> <C> <C>
Steven D. Hovde(1) Investment banker U.S.
1629 Colonial Parkway Hovde Financial, Inc.
Inverness, Illinois 60067 1629 Colonial Parkway
Inverness, Illinois 60067
Investment banking firm
Eric D. Hovde(2) Investment banker U.S.
1826 Jefferson Place, NW Hovde Financial, Inc.
Washington, D.C. 20036 1826 Jefferson Place, NW
Washington, D.C. 20036
Investment banking firm
Braddock J. LaGrua(3) Investment banker U.S.
1826 Jefferson Place, NW Hovde Financial, Inc.
Washington, D.C. 20036 1826 Jefferson Place, NW
Washington, D.C. 20036
Investment banking firm
Gregory A. Mitchell(4) Investment banker U.S.
1801 Oakland Blvd., Suite 259 Hovde Financial, Inc.
Walnut, CA 94596 1801 Oakland Blvd.
Suite 250
Walnut, CA 94596
</TABLE>
- --------
(1) Steven D. Hovde is affiliated with the following Reporting Persons:
Chairman, CEO of Hovde Capital, Inc.; President, Treasurer of Hovde
Capital, L.L.C.; Executive VP, Treasurer of Hancock Park Acquisition,
L.L.C.; Executive VP, Treasurer of Western Acquisitions, L.L.C.
(2) Eric D. Hovde is affiliated with the following Reporting Persons:
President of Hovde Capital, Inc.; Chairman and CEO of Hovde Capital,
L.L.C.; President and Assistant Treasurer of Hancock Park Acquisition,
L.L.C.; President and Assistant Treasurer of Western Acquisitions,
L.L.C.
(3) Braddock J. LaGrua is affiliated with the following Reporting
Persons: Executive VP, Treasurer of Hovde Capital, Inc.
(4) Gregory A. Mitchell is affiliated with the following Reporting
Persons: VP of Hovde Capital, L.L.C.; Senior VP of Hancock Park
Acquisition, L.L.C.
Page 18 of 26 Pages
<PAGE> 19
SCHEDULE 2
The following table sets forth the amount and source of funds
used by each Reporting Person in acquiring the Shares beneficially
owned by it.
<TABLE>
<CAPTION>
AMOUNT
ORIGINALLY
TOTAL FINANCED/ SOURCE OF
NAME CONSIDERATION CURRENT BALANCE FUNDS
- ---------------------------------------------------------------------------------
<S> <C> <C> <C>
Financial $5,705,031.66 $2,691,441.06/ Working Capital/
Institution $3,013,590.60 Line of Credit*
Partners, L.P.
Hovde Capital, $5,705,031.66 $2,691,441.06/ Working Capital/
Inc. $3,013,590.60 Line of Credit of
Affiliate*
Financial $6,825,305.00 $2,426,870.52/ Working Capital/
Institution $4,398,434.48 Line of Credit**
Partners II, L.P.
Hovde Capital, $6,825,305.00 $2,426,870.52/ Working Capital/
L.L.C. $4,398,434.48 Line of Credit of
Affiliate**
Hancock Park $3,514,566.31 $1,953,756.59/ Working Capital/
Acquisition, L.P. $1,560,809.72 Line of Credit***
Hancock Park $3,514,566.31 $1,953,756.59/ Working Capital/
Acquisition, L.L.C. $1,560,809.72 Line of Credit of
Affiliate***
Western $1,551,875.00 $543,156.25/ Working Capital/
Acquisition $1,008,718.75 Line of Credit****
Partners, L.P.
Western $1,551,875.00 $543,156.25/ Working Capital/
Acquisitions, L.L.C. $1,008,718.75 Line of Credit of
Affiliate****
</TABLE>
- ----------------------
*$3,013,590.60 was financed through a line of credit with NationsBanc
Montgomery Securities at Federal Funds rate +5/8.
**$4,398,434.48 was financed through a line of credit with NationsBanc
Montgomery Securities at Federal Funds rate +5/8.
***$1,560,809.72 was financed through a line of credit with NationsBanc
Montgomery Securities at Federal Funds rate +5/8.
****$1,008,718.75 was financed through a line of credit with
NationsBanc Montgomery Securities at Federal Funds rate +5/8.
Page 19 of 26 Pages
<PAGE> 20
SCHEDULE 3
The following table sets forth the number and approximate
percentage of Shares beneficially owned by each of the Reporting
Persons. Each of the Reporting Persons has shared power to vote or to
direct the vote and to dispose or to direct the disposition of the
Shares of which each of them, respectively, possesses beneficial
ownership.
<TABLE>
<CAPTION>
APPROXIMATE
NAME NUMBER OF SHARES PERCENTAGE
- ---- ---------------- ----------
<S> <C> <C>
Financial Institution 917,100 4.72%
Partners, L.P.
Hovde Capital, Inc. 917,100 4.72%
Financial Institution 808,967 4.17%
Partners II, L.P.
Hovde Capital, L.L.C. 808,967 4.17%
Hancock Park 651,260 3.35%
Acquisition, L.P.
Hancock Park 651,260 3.35%
Acquisition, L.L.C.
Western Acquisition 140,000 0.72%
Partners, L.P.
Western Acquisitions, 140,000 0.72%
L.L.C.
- --------------------------------------------------------------------------------
Aggregate Shares Held by 2,517,327 12.96%
Reporting Persons
</TABLE>
Page 20 of 26 Pages
<PAGE> 21
SCHEDULE 4
Description of Transactions in Shares Effected within 60 Days
The Reporting Persons effected the following transactions in the Shares
within sixty (60) days of December 14, 1998:
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------
Transaction Number of Transaction Transaction Broker
Date Shares Price Type
- --------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Financial 12/11/98 25,000 $4.00 Buy Mongtomery
Institution Securities
Partners, --------------------------------------------------------------
L.P. 12/11/98 1,200 $4.00 Buy Bloomberg
Tradebook
--------------------------------------------------------------
12/10/98 100,000 $4.00 Buy Montgomery
Securities
--------------------------------------------------------------
12/10/98 6,100 $4.00 Buy Bloomberg
Tradebook
--------------------------------------------------------------
12/9/98 54,600 $3.9943 Buy Bloomberg
Tradebook
--------------------------------------------------------------
12/9/98 55,600 $3.9867 Buy Jeffries &
Co.
--------------------------------------------------------------
12/8/98 93,600 $4.0005 Buy Bloomberg
Tradebook
--------------------------------------------------------------
12/7/98 95,900 $3.9939 Buy Bloomberg
Tradebook
--------------------------------------------------------------
12/4/98 100,000 $3.9976 Buy Bloomberg
Tradebook
--------------------------------------------------------------
12/3/98 21,800 $3.9738 Buy Bloomberg
Tradebook
--------------------------------------------------------------
12/2/98 33,300 $3.9880 Buy Bloomberg
Tradebook
- --------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------
Transaction Number of Transaction Transaction Broker
Date Shares Price Type
- --------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Financial 11/24/98 186,000 $4.50 Buy Montgomery
Institution Securities
Partners --------------------------------------------------------------
II, L.P. 11/24/98 110,000 $4.4943 Buy A.T. Watley
--------------------------------------------------------------
11/19/98 40,000 $3.6484 Buy Jeffries &
Co.
--------------------------------------------------------------
11/17/98 15,000 $3.3125 Buy Jeffries &
Co.
--------------------------------------------------------------
11/12/98 15,300 $3.1875 Buy Jeffries &
Co.
- --------------------------------------------------------------------------
</TABLE>
Page 21 of 26 Pages
<PAGE> 22
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------
Transaction Number of Transaction Transaction Broker
Date Shares Price Type
- --------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Hancock 11/24/98 1,696 4.50 Sell Montgomery
Park Securities
Acquisition,--------------------------------------------------------------
L.P. 11/24/98 3,110 4.50 Sell Montgomery
Securities
--------------------------------------------------------------
11/24/98 3,194 4.50 Sell Montgomery
Securities
--------------------------------------------------------------
11/24/98 178,000 4.50 Sell Montgomery
Securities
--------------------------------------------------------------
10/14/98 402,400 $2.3125 Buy Jeffries &
Co.
- --------------------------------------------------------------------------
</TABLE>
Page 22 of 26 Pages
<PAGE> 23
EXHIBIT INDEX
Page
Exhibit A Consent Agreement to 17 C.F.R. Section 13d-1(f)(1) 25
Exhibit B [OMITTED - - FILED PURSUANT TO REQUEST
FOR CONFIDENTIAL TREATMENT] (Incorporated
by reference to Amendment No. 3, filed with the
Commission on December 4, 1998)](5)
Exhibit C - Customer Agreement between NationsBanc Montgomery
Securities and Financial Institution Partners II, L.P.
(Incorporated by reference to Amendment No. 3, filed
with the Commission on December 4, 1998)
Exhibit D - Prime Broker Agreement between NationsBanc
Montgomery Securities and Financial Institution
Partners II, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit E - Partnership Agreement between NationsBanc
Montgomery Securities and Financial Institution
Partners II, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit F - Customer Agreement between NationsBanc
Montgomery Securities and Financial Institution
Partners, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit G - Prime Broker Agreement between NationsBanc
Montgomery Securities and Financial Institution
Partners, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit H - Partnership Agreement between NationsBanc
Montgomery Securities and Financial Institution
Partners, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
- -------------------
(5) Portions of Exhibit 5 have been omitted pursuant to a request for
confidential treatment of information in accordance with Rule 24b-2 of the
Securities and Exchange Act of 1934.
Page 23 of 26 Pages
<PAGE> 24
December 4, 1998)
Exhibit I - Customer Agreement between NationsBanc
Montgomery Securities and Hancock Park
Acquisition, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit J - Prime Broker Agreement between NationsBanc
Montgomery Securities and Hancock Park
Acquisition, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit K - Partnership Agreement between NationsBanc
Montgomery Securities and Hancock Park
Acquisition, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit L - Customer Agreement between NationsBanc
Montgomery Securities and Western Acquisition
Partners, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit M - Prime Broker Agreement between NationsBanc
Montgomery Securities and Western Acquisition
Partners, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Exhibit N - Partnership Agreement between NationsBanc
Montgomery Securities and Western Acquisition
Partners, L.P. (Incorporated by reference to
Amendment No. 3, filed with the Commission on
December 4, 1998)
Page 24 of 26 Pages
<PAGE> 25
EXHIBIT A
Consent Agreement Pursuant to 17 C.F.R. Section 13d-1(f)(1)
Each of the undersigned hereby consents and agrees to the filing
on behalf of each of them of the foregoing joint statement on Schedule
13D pursuant to 17 C.F.R. 13d-1(f)(1) with respect to his/its
beneficial ownership of the shares of the Issuer.
FINANCIAL INSTITUTION PARTNERS, L.P., by
its General Partner, HOVDE CAPITAL, INC.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: President
HOVDE CAPITAL, INC.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: President
FINANCIAL INSTITUTION PARTNERS II, L.P.,
by its General Partner, HOVDE CAPITAL,
L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Managing Member
HOVDE CAPITAL, L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Managing Member
HANCOCK PARK ACQUISITION, L.P., by its
General Partner, HANCOCK PARK
ACQUISITION, L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Member
Page 25 of 26 Pages
<PAGE> 26
HANCOCK PARK ACQUISITION, L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Member
WESTERN ACQUISITION PARTNERS, L.P., by
its General Partner, WESTERN
ACQUISITIONS, L.L.C..
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Managing Member
WESTERN ACQUISITIONS, L.L.C.
By: /s/ Eric D. Hovde
----------------------------------
Eric D. Hovde
Its: Managing Member
Page 26 of 26 Pages
