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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File No. 0-28360
NOTIFICATION OF LATE FILING
(Check One): [_] Form 10-K [_] Form 11-K [_] Form 20-F
[X] Form 10-Q[SB] [_] Form N-SAR
For Period Ended: September 30, 1996
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[_] Transition Report on Form 10-K
[_] Transition Report on Form 20-F
[_] Transition Report on Form 11-K
[_] Transition Report on Form 10-Q
[_] Transition Report on Form N-SAR
For the Transition Period Ended:
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Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
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PART I--REGISTRANT INFORMATION
Full name of registrant: IBW Financial Corporation
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Former name if applicable: -----------------------------------------------------
Address of principal executive office (Street and Number):
4812 Georgia Avenue, N.W.
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City, State and Zip Code: Washington, D.C. 20011
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PART II--RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check appropriate box.)
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report
on Form 10-K[SB], 20-F, 11-K, Form N-SAR, or portion thereof will be
filed on or before the 15th calendar day following the prescribed due
date; or the subject quarterly report or transition report on
Form 10-Q, or portion thereof will be filed on or before the fifth
calendar day following the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by
Rule 12b-25(c) has been attached if applicable.
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PART III--NARRATIVE
State below in reasonable detail the reasons why the Form 10-K[SB],
11-K, 20-F, 10-Q, N-SAR or the transition report portion thereof could not be
filed within the prescribed time period. (Attach extra sheets if needed.)
As a result of factors beyond the control of registrant, the
finalization of the drafting and review of the Form 10-QSB which is the
subject of this notification by the responsible officers of the
registrant and legal counsel to the registrant could not be effected in
sufficient time to permit filing of the report on a timely basis.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Noel M. Gruber (301) 654-6040
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13
or 15(d) of the Securities Exchange Act of 1934 or
Section 30 of the Investment Company Act of 1940 during the
preceding 12 months for such shorter period that the
registrant was required to file such report(s) been filed?
If the answer is no, identify report(s). [X] Yes [_] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last
fiscal year will be reflected by the earnings statements to
be included in the subject report or portion thereof? [_] Yes [X] No
If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
It is anticipated that registrant's net income for the nine months ended
September 30, 1996 will be approximately $163,000 less than net income for
the comprable period in 1995, or $.31 per share, due largely to one time
costs related to termination of registrant's defined benefit pension plan,
and a special FDIC assessment imposed on a portion of the deposits held by
registrant's subsidiary bank.
IBW Financial Corporation
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(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: November 14, 1996 By: /s/ Thomas A. Wilson
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Thomas A. Wilson
Senior Vice President and Chief
Financial Officer