<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
California Financial Holding Company
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
130219-10-8
(CUSIP Number)
Kenneth L. Guernsey
Cooley Godward LLP
One Maritime Plaza, 20th Floor
San Francisco, CA 94111
(415) 693-2000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 9, 1996
(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.)
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
Exhibit Index located at Page 12.
(Continued on following pages)
(Page 1 of 13 Pages)
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 130219-10-8 PAGE 2 OF 13 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Cortopassi Family Trust
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 138,000
REPORTING
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
138,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
138,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.92%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 130219-10-8 PAGE 3 OF 13 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS LICO Brands, Inc.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 138,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
138,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
138,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.92%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 130219-10-8 PAGE 4 OF 13 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON DACCO, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 138,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
138,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
138,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.92%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
SCHEDULE 13D
CUSIP NO. 130219-10-8 PAGE 5 OF 13 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS VICOR, LLC
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* (See Instructions)
WC,OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 138,000
REPORTING
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
138,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
138,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.92%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
<PAGE> 6
SCHEDULE 13D
CUSIP NO. 130219-10-8 PAGE 6 OF 13 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Capecchio Foundation
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 138,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
138,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
138,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.92%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
Item 1: Security and Issuer.
Class of Securities: Common Stock, $0.01 par value
Issuer: California Financial Holding Company
("Issuer")
Principal Address: 501 West Weber
Stockton, CA 95203
Telephone: (209) 948-6870
Item 2: Identity and Background.
(a) Reporting Persons:
i. Cortopassi Family Trust ("CFT");
ii. LICO Brands, Inc. ("LBI");
iii. DACCO, Inc. ("DI");
iv. VICOR, LLC ("VL").
v. Capecchio Foundation ("CF").
(b) Principal Business Address:
11292 North Alpine Road
Stockton, CA 95212
(c) Principal Occupation/Principal Business:
CFT: Investments
LBI: Investments
DI: Investments
VL: Investments
CF: Charity
(d) None.
(e) None.
(f) Not applicable.
Item 3: Source and Amount of Funds or Other Consideration.
The shares of Common Stock of Issuer reported as beneficially owned by
CFT in Item 5 have been purchased with personal funds and borrowings from Smith
Barney secured by marketable securities. CFT has paid a total of $197,813
(including broker's commissions and fees) in separate transactions for these
shares.
Page 7 of 13 Pages
<PAGE> 8
During the 60-day period prior to December 27, 1996, CFT disposed of
69,000 shares of the Common Stock of Issuer in separate transactions as follows:
<TABLE>
<CAPTION>
Date of Sale Number of Shares Total Proceeds*
------------ ---------------- ---------------
<S> <C> <C>
12/02/96 20,000 $ 576,246
12/10/96 3,000 85,882
12/11/96 5,000 143,271
12/12/96 2,000 57,193
12/18/96 14,000 403,254
12/27/96 25,000 (Donation to CF)
</TABLE>
The shares of Common Stock of Issuer reported as beneficially owned by
LBI in Item 5 have been purchased with working capital and borrowings from Smith
Barney secured by marketable securities. LBI has paid a total of $664,939
(including broker's commissions and fees) in separate transactions for these
shares.
During the 60-day period prior to December 27, 1996, LBI disposed of
13,000 shares of the Common Stock of Issuer in the following transaction:
<TABLE>
<CAPTION>
Date of Sale Number of Shares Total Proceeds*
------------ ---------------- ---------------
<S> <C> <C>
12/18/96 13,000 $ 374,435
</TABLE>
The shares of Common Stock of Issuer reported as beneficially owned by
DI in Item 5 have been purchased with working capital and borrowings from Smith
Barney secured by marketable securities. DI has paid a total of $616,376
(including broker's commissions and fees) in separate transactions for these
shares.
During the 60-day period prior to December 27, 1996, DI disposed of
61,000 shares of the Common Stock of Issuer in separate transactions as follows:
<TABLE>
<CAPTION>
Date of Sale Number of Shares Total Proceeds*
------------ ---------------- ---------------
<S> <C> <C>
12/02/96 20,000 $ 576,246
12/12/96 31,000 889,309
12/18/96 10,000 287,980
</TABLE>
- ----------
* Includes broker's commissions and fees.
Page 8 of 13 Pages
<PAGE> 9
The shares of Common Stock of Issuer reported as beneficially owned by
VL in Item 5 have been purchased from DI with working capital and borrowings
from Smith Barney secured by marketable securities. VL paid $830,000 for these
shares in one transaction.
During the 60-day period prior to December 27, 1996, VL disposed of
32,000 shares of the Common Stock of Issuer in separate transactions as follows:
<TABLE>
<CAPTION>
Date of Sale Number of Shares Total Proceeds*
------------ ---------------- ---------------
<S> <C> <C>
12/06/96 6,000 $ 172,706
12/09/96 2,000 57,442
12/10/96 2,000 57,193
12/20/96 20,000 576,164
12/27/96 2,000 57,438
</TABLE>
The shares of Common Stock of Issuer reported as beneficially owned by
CF in Item 5 were received as a donation from CFT on December 27, 1996. CFT
paid $326,041 for such shares.
Item 4: Purpose of Transaction.
Reporting Persons acquired the securities of Issuer for purposes of
investment.
Subject to applicable legal requirements, Reporting Persons may
purchase additional shares of Common Stock from time to time in open market or
in private transactions, depending on their evaluation of Issuer's business,
prospects and financial condition, the market for the Common Stock, other
developments concerning Issuer, the reaction of Issuer to Reporting Person's
ownership of Common Stock, other opportunities available to Reporting Persons,
and general economic, money market and stock market conditions. In addition,
depending upon the factors referred to above, Reporting Persons may dispose of
all or a portion of their shares of Common Stock at any time.
Other than as described in this Item 4, Reporting Persons do not have
any plan or proposal relating to, or that would result in, any event described
in (a)-(j) of this Item 4. However, Reporting Persons reserve the right to take
such action as they may deem appropriate with respect to any or all of such
matters.
Following the transactions reported hereby, Reporting Persons no longer
beneficially own more than 5% of the outstanding shares of Issuer's Common
Stock. Accordingly, no further amendments to this Schedule 13D will be filed.
- ----------
* Includes broker's commissions and fees.
Page 9 of 13 Pages
<PAGE> 10
Item 5: Interest in Securities of the Issuer.
(a) and (b) According to the Issuer's most recent Form 10-Q, 4,720,970 shares of
stock were outstanding as of September 30, 1996. The Reporting Persons affirm
membership in a group. Therefore, each Reporting Person is deemed to have
beneficial ownership of an aggregate of 138,000 shares of Issuer's stock, which
is 2.92% of the outstanding shares of Issuer's stock.
<TABLE>
<CAPTION>
CFT LBI DI VL CF
--- --- -- -- --
<S> <C> <C> <C> <C> <C>
Beneficial Ownership 138,000 138,000 138,000 138,000 138,000
Percentage of Class 2.92% 2.92% 2.92% 2.92% 2.92%
Sole Voting Power -0- -0- -0- -0- -0-
Shared Voting Power 138,000 138,000 138,000 138,000 138,000
Sole Dispositive Power -0- -0- -0- -0- -0-
Shared Dispositive Power 138,000 138,000 138,000 138,000 138,000
</TABLE>
(c) See Item 3 above.
(d) Not applicable.
(e) Not applicable.
Item 6: Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Dean A. Cortopassi is an executive officer, managing member or trustee
of each entity named in response to Item 2 above. With this exception, to the
best knowledge of the undersigned, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the persons named in
Item 2 and between such persons and any person with respect to any securities of
the Issuer, including but not limited to transfer or voting of any of the
securities, finder's fees, joint ventures, loan or option agreements, puts or
calls, guarantees of profits, division of profits or loss, or the giving or
withholding of proxies.
Item 7: Material to be Filed as Exhibits.
Exhibit A: Joint Filing Statement.
Page 10 of 13 Pages
<PAGE> 11
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: January 8, 1997
CORTOPASSI FAMILY TRUST
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
Trustee
LICO BRANDS, INC.
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
President
DACCO, INC.
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
President
VICOR, LLC
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
Managing Member
CAPECCHIO FOUNDATION
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
President
Page 11 of 13 Pages
<PAGE> 12
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Sequential Page
- ------- ---------------
<S> <C>
Exhibit A - Joint Filing Statement 12
</TABLE>
Page 12 of 13 Pages
<PAGE> 13
EXHIBIT A
Joint Filing Statement
We, the undersigned, hereby express our agreement that the attached Amendment
No. 1 to Schedule 13D is filed on behalf of each of us.
Date: January 8, 1997
CORTOPASSI FAMILY TRUST
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
Trustee
LICO BRANDS, INC.
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
President
DACCO, INC.
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
President
VICOR, LLC
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
Managing Member
CAPECCHIO FOUNDATION
By: DEAN A. CORTOPASSI
------------------------------
Dean A. Cortopassi
President
Page 13 of 13 Pages
