SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(MARK ONE)
|X| Annual Report under Section 13 or 15(d) of the Securities Exchange Act
of 1934
For the fiscal year ended December 31, 2000
OR
|_| Transition Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from _______________ to _______________
Commission File No. 333-83597
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SUPERIOR BANK FSB (SERIES 2000-2)
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(Exact name of registrant as specified in its charter)
UNITED STATES 36-1414142
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
ONE LINCOLN CENTRE
OAKBROOK TERRACE, ILLINOIS 60181
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 630 916-4000
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Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange
Title of each class on which registered
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NONE NOT APPLICABLE
Securities registered pursuant to Section 12(g) of the Act:
NONE
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(Title of Class)
Indicate by check mark whether the registrant: (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes X No
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Documents Incorporated by Reference:
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The following documents filed pursuant to Rule 424(b) under the Securities Act
of 1933, as amended, are incorporated by reference into Part I of this Form
10-K: the Prospectus Supplement dated June 23, 2000 together with the Prospectus
dated August 9, 1999.
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SUPERIOR BANK FSB (SERIES 2000-2)
FORM 10-K
TABLE OF CONTENTS
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Page
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Part I
Item 1. Business............................................................................ 1
Item 2. Properties.......................................................................... 1
Item 3. Legal Proceedings................................................................... 1
Item 4. Submission of Matters to a Vote of Security Holders................................. 1
Part II
Item 5. Market for Registrant's Common Equity
and Related Stockholder Matters................................................. 1
Item 6. Selected Financial Data............................................................. 1
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations............................................. 2
Item 7A. Quantitative and Qualitative Disclosures About
Market Risk..................................................................... 2
Item 8. Financial Statements and Supplementary Data......................................... 2
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure................................................. 2
Part III
Item 10. Directors and Executive Officers of the Registrant.................................. 2
Item 11. Executive Compensation.............................................................. 2
Item 12. Security Ownership of Certain Beneficial
Owners and Management........................................................... 2
Item 13. Certain Relationships and Related Transactions...................................... 4
Part IV
Item 14. Exhibits, Financial Statement Schedules
and Reports on Form 8-K......................................................... 4
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PART I
ITEM 1 BUSINESS.
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Not applicable.
ITEM 2 PROPERTIES.
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Not applicable.
ITEM 3 LEGAL PROCEEDINGS.
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There were no material legal proceedings involving either the
Mortgage Pool, the Indenture Trustee, the custodian, the Servicer or the
Registrant with respect to the Mortgage Pool, other than ordinary routine
litigation incidental to the duties of the Indenture Trustee, the custodian, the
Servicer or the Registrant under the Sale and Servicing Agreement.
ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
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No matter was submitted to a vote of security holders during
the fourth quarter of the fiscal year ended December 31, 2000.
PART II
ITEM 5 MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS.
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(a) There is no established trading market for the Notes.
(b) As of December 31, 2000, with respect to Series
2000-2 there were four (4) holders of record of the Registrant's Class 1A Notes
and there were ten (10) holders of record of the Registrant's Class 2A Notes.
This does not reflect the number of persons who hold
their notes in nominee or "street" name through various brokerage firms.
ITEM 6 SELECTED FINANCIAL DATA.
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Not applicable.
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ITEM 7 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS
AND RESULTS OF OPERATIONS.
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Not applicable.
ITEM 7A QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
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Not applicable.
ITEM 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
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Not applicable.
ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE.
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Not applicable since there was no change of accountants or
disagreements on any matter of accounting principles or practices of financial
disclosure.
PART III
ITEM 10 DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.
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Not applicable.
ITEM 11 EXECUTIVE COMPENSATION.
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Not applicable.
ITEM 12 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT.
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The following table provides information, as of December 31,
2000 with respect to the ownership by each person or group of persons, known by
the Registrant to be a record owner of 5% or more of each class of the 2000-2
Series of Notes. This does not reflect the persons who hold their notes in
nominee or "street" name.
Except as set forth below, the Registrant is not aware of any
record owner of more than 5% of the Notes as of the close of business on
December 31, 2000.
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Percent of Class of
Principal Amount of Notes Outstanding (by
Series and Class Notes Owned aggregate principal balance
of Notes Name and Address of Record or Percentage Interest)
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<S> <C> <C> <C>
2000-2
Class 1A Bankers Trust Company $30,000,000 11.28%
648 Grassmere Park Drive
Nashville, Tennessee 37211
Firstar Bank, N.A $83,000,000 31.20%
425 Walnut Street
Cincinnati, Ohio 45202
Merrill Lynch, Pierce Fenner $143,000,000 53.76%
& Smith Safekeeping
4 Corporate Place
Corporate Park 287
Piscataway, New Jersey 08855
Class 2A Bankers Trust Company $93,300,000 33.32%
(See Above)
Chase Manhattan Bank $14,400,000 5%
4 New York Plaza
New York, New York 10004
Citibank, N.A. $20,000,000 7.14%
3800 Citicorp Center Tampa
Tampa, Florida 33610-9122
Merrill Lynch, Pierce Fenner $31,895,000 11.39%
& Smith, Inc.
4 Corporate Place
Corporate Park 287
Piscataway, New Jersey 08855
Northern Trust Company $57,775,000 20.63%
801 S. Canal
Chicago, Illinois 60607
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State Street Bank and Trust Company $44,040,000 15.73%
1776 Heritage Drive
Global Corporate Action Unit JAB 5NW
No. Quincy, Massachusetts 02171
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ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
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Not applicable.
PART IV
ITEM 14 EXHIBITS, FINANCIAL STATEMENTS SCHEDULES AND REPORTS ON FORM
8-K.
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Not applicable.
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SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED
PURSUANT TO SECTION 15(D) BY REGISTRANTS WHICH HAVE NOT
REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
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No annual report, proxy statement, form of proxy or other
soliciting material has been sent to Noteholders, and the Registrant does not
contemplate sending any such materials subsequent to the filing of this report.
<PAGE>
SIGNATURES
Subject to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
SUPERIOR BANK FSB
(Registrant and as Depositor)
By: /s/ William C. Bracken
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William C. Bracken
Senior Vice President and
Chief Financial Officer
Date: January 17, 2001
Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons and in the
capacities and on the date indicated.
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<CAPTION>
Name Title Date
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<S> <C> <C>
* President, Director January 17, 2001
--------------------------------
(Neal T. Halleran)
/s/ William C. Bracken Senior Vice President and January 17, 2001
---------------------- Chief Financial Officer
(William C. Bracken) (Principal Financial and
Accounting Officer)
* Director January 17, 2001
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(Monte Kurs)
* Director January 17, 2001
--------------------------------
(Nelson L. Stephenson)
* Director January 17, 2001
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(Glen Miller)
* Director January 17, 2001
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(Marc A. Weisman)
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*By: /s/ William C. Bracken
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William C. Bracken
Attorney-in-fact
