FORM 4 OMB APPROVAL
OMB Number: 3235-0287
[ ] Check this box if no longer Expires: September 30, 1998
subject to Section 16. Estimated average burden
Form 4 or Form 5 obligations hours per response . . . 0.5
may continue. See Instruction 1(b).
- NEW -
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act
of 1934, Section 17(a) of the Public Utility Holding
Company Act of 1935 or Section 30(f) of the
Investment Company Act of 1940
(Print or Type Responses)
1. Name and Address of Reporting Person
Wiederhorn Andrew A.
(Last) (First) (Middle)
1776 SW Madison Street
(Street)
Portland OR 97205
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Wilshire Financial Services Group Inc. (WFSG)
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Statement for Month/Year
February 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all
applicable)
_X_ Director _X_ 10% Owner
_X_ Officer (give title below) ___ Other (specify below)
Chief Executive Officer, Secretary and Treasurer
7. Individual or Joint/Group Filing (Check Applicable Line)
___ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
FORM 4 (continued)
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially owned
1. Title of Security (Instr. 3)
(a) Common Stock
(b) Common Stock
(c) Common Stock
(d) Common Stock
(e) Common Stock
(f) Common Stock
(g) Common Stock
(h) Common Stock
2. Transaction Date(Month/Day/Year)
(b) 2/3/98
(c) 2/3/98
(d) 2/5/98
(e) 2/6/98
(f) 2/9/98
(g) 2/11/98
(h) 2/18/98
3. Transaction Code (Instr. 8)
Code V
(b) J(1)
(c) J(1)
(d) P
(e) P
(f) P
(g) P
(h) P
4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and
5)
Amount (A) or (D) Price
(a) 175,000 D $20.00
(b) 175,000 D $20.00
(c) 20,000 A $20.50
(d) 16,667 A $20.375
(e) 3,333 A $21.00
(f) 3,333 A $21.375
(g) 26,667 A $22.125
5. Amount of Securities Beneficially Owned at End of Month
(Instr. 3 and 4)
(a) 5,004
(b) 3,242,127
(c) 25,000
(g) 70,000
6. Ownership Form: Direct (D) or Indirect (I)(Instr. 4)
(a) I
(b) D
(c) I
(d) I
(e) I
(f) I
(g) I
(h) I
7. Nature of Indirect Beneficial Ownership (Instr. 4)
(a) By minor child
(b) By Partnership (2)
(c) By Corporation
(d) By Corporation
(e) By Corporation
(f) By Corporation
(g) By Corporation
SEC 1474 (7-96)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or
Beneficially Owned (e.g., puts, calls, warrants,
options, convertible securities)
1. Title of Derivative Security(Instr. 3)
Options
Options
2. Conversion or Exercise Price of Derivative Security
$11.40
$11.40
3. Transaction Date (Month/Day/Year)
4. Transaction Code (Instr. 8)
Code V
5. Number of Derivative Securities Acquired (A) or Disposed of
(D) (Instr. 3, 4, and 5)
(A) (D)
6. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
1/2/97 12/24/01
1/2/97 12/24/06
7. Title and Amount of Underlying Securities (Instr. 3 and 4)
Title Amount or Number of Shares
Common Stock 19,047
Common Stock 710,953
8. Price of Derivative Security (Instr. 5)
9. Number of Derivative Securities Beneficially Owned at End of
Month (Instr. 4)
19,047
710,953
10. Ownership Form of Derivative Security Direct (D) or Indirect
(I) (Instr. 4)
D
D
11. Nature of Indirect Beneficial Ownership (Instr. 4)
SEC 1474 (7-96)
FORM 4 (continued)
Explanation of Responses:
1. Mr. Wiederhorn disclaims beneficial interest except to the
extent of his pecuniary interest.
2. In connection with Wilshire Financial Services Group Inc.'s
offering of 3,500,000 shares of its Common Stock on February
3, 1998, each of Mr. Wiederhorn and a partnership controlled
by Mr. Wiederhorn sold 175,000 shares of Common Stock pursuant
to an over-allotment option granted to the Underwriters.
/s/ Andrew A. Wiederhorn March 9, 1998
**Signature of Reporting Person Date
Andrew A. Wiederhorn
** Intentional misstatements or omissions of facts constitute
Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be
manually signed.
If space provided is insufficient, see Instruction 6 for
procedure.
