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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 0-17292
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q
[ ] Form N-SAR
For Period Ended: September 30, 1997
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:_________________________________________
Read attached instruction sheet before preparing form. Please print or
type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification related to a portion of the filing checked above,
identify the item(s) to which the notification relates:________________________
PART I
REGISTRANT INFORMATION
Full name of registrant: Wilshire Financial Services Group Inc.
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Former name if applicable______________________________________________________
Address of principal executive office (Street and number):1776 SW Madison St.
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City, state and zip code: Portland, OR 97205
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PART II
RULE 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 box if appropriate.)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
(b) The subject annual report, semi-annual report, transition report
on Form 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be
filed on or before the 15/th/ calendar day following the
[X] prescribed due date; or the subject quarterly report on 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
The Company previously filed a Form S-4 Registration Statement with the
Securities and Exchange Commission in connection with an exchange offer for the
Company's 13% Series A Notes due 2004. The Company is currently updating such
registration statement to include financial information for the nine month
periods ended September 30, 1997 and 1996. Since the financial information for
the nine month period ended September 30, 1996 was audited in connection with
the Company's initial public offering in December 1996, the Company is also
having the financial information for the nine month period ended September 30,
1997 audited.
Arthur Andersen LLP, the Company's independent auditor, is in the process
of auditing the consolidated statements of financial condition of Wilshire
Financial Services Group Inc. and Subsidiaries as of September 30, 1997, and the
related consolidated statements, stockholder's equity and cash flows for the
quarter ended September 30, 1997 and the nine months ended September 30, 1997
for inclusion in the Company's Form S-4 Registration Statement. Arthur Andersen
LLP was unable to complete their audit by November 14, 1997 without unreasonable
effort and expense.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Chris Tassos (503) 952-7353
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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 or 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.
Wilshire Financial Services Group Inc.
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(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 17, 1997 By /s/ Chris Tassos
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Chris Tassos
Executive Vice President and
Chief Financial Officer
