<PAGE>
CW&T FORM 8/31/99
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
_______________________________
Date of Report: August 31, 1999
IMPERIAL BANCORP
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
CALIFORNIA 0-7722 95-2575576
- ---------------------------- ------------------------ ----------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
9920 S. La Cienega Blvd. Inglewood, CA 90301
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (310) 417-5600
<PAGE>
Item 1. Not Applicable.
Item 2. Acquisition or Disposition of Assets
The Coroporation's subsidiary, Imperial Bank, has sold all its
remaining 5,258,570 shares of Imperial Credit Industries, Inc. in a
sale as set forth in the attached press release. The sale was
settled on August 6, 1999
Items 3-6. Not Applicable.
Item 7. Financial Statements and Exhibits.
---------------------------------
Financial statements will be filed by amendment within 60 days
(99) Press release, dated July 27, 1999, issued by the Corporation.
-2-
<PAGE>
SIGNATURE
Pursuant to the requirements 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.
IMPERIAL BANCORP
By Richard M. Baker
---------------------------------
Name: Richard M. Baker
Title: Senior Vice President, General
Counsel and Secretary
Date: August 31, 1999
-3-
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
(99) Press release, dated July 27, 1999,
issued by the Corporation.
-4-
<PAGE>
EXHIBIT 99
July 28, 1999
IMPERIAL BANK ANNOUNCES SALE OF ITS REMAINING SHARES OF IMPERIAL CREDIT
INDUSTRIES, INC.
LOS ANGELES - CA, July 27, 1999: Imperial Bank (the "Bank"), the principal
subsidiary of Imperial Bancorp (NYSE:IMP), today announced the sale of the
remaining 5,258,570 shares it owned of Imperial Credit Industries, Inc. (NASDAQ-
ICII) ("ICII") common stock for $6.00 per share. The transaction was arranged
through Friedman, Billings, Ramsey Group, Inc. The sale will result in a pretax
loss of approximately $2.8 million, which will be reported in the third quarter.
Norman P. Creighton, Vice Chairman and Chief Executive Officer of Imperial Bank,
stated, "We are pleased that with this sale of 5.3 million shares, the Bank has
completed the sale of its entire stake in ICII stock. This transaction improves
our ability to focus on the growth of our core commercial banking franchise and
its profitability."
The Bank announced its intention to sell its shares of ICII in a 13D filing with
the Securities and Exchange Commission in December 1998.
With over $6 billion in assets, Imperial Bank is one of the leading independent
business banks headquartered in California and offers a wide range of financial
services tailored to corporate customers, entrepreneurs and professionals.
Serving mid-sized businesses, Imperial Bank's strategy focuses on delivering
customized financial products and services to manufacturing, distribution,
wholesale, service, import/export, apparel and textile businesses; in addition
to some of the fastest growing industries such as emerging technology,
entertainment, residential construction, and title and escrow. Founded in 1963
by two California entrepreneurs, Imperial Bank is the principal subsidiary of
Imperial Bancorp (NYSE - IMP), with 12 regional banking offices located
throughout California; in Phoenix, Arizona; and in Denver, Colorado. In
addition, Imperial has emerging growth loan offices in Irvine, Menlo Park and
San Diego, California; Boston, Massachusetts; Austin, Texas; Reston, Virginia;
and Bellevue, Washington. Imperial can be found on the Web at
www.imperialbank.com
- --------------------
Press Inquires
Ann Abajian Robert Galea
Public Relations Director Senior Vice President
Public Relations Firm: Kaiser McEu Imperial Bank: Marketing / Public Relations
310.479.8999 310.338.6111
Address:
Imperial Bank Executive Offices
PO Box 92991
Los Angeles, California 90009-2991
800.957.8483
