SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. __)
Professional Bancorp, Inc.
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(Name of Issuer)
Common Stock, $0.008 par value
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(Title of Class of Securities)
743112-10-4
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(CUSIP Number)
Edward E. Steiner, Esq.
Keating, Muething & Klekamp, P.L.L.
One East Fourth Street, 14th Floor
Cincinnati, Ohio 45202
(513) 579-6468
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 8, 2000
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(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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ]
(Continued on the following pages)
<PAGE>
CUSIP No.743112-10-4 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
George J. Budig
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF 43,000
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 95,000
REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
43,000
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10 SHARED DISPOSITIVE POWER
95,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
138,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 743112-10-4 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
George E. Fern Co.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
X
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF 95,000
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 43,000
REPORTING --------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
95,000
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
43,000
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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)
6.8%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer.
This Schedule 13D relates to the Common Stock of Professional Bancorp,
Inc., a Pennsylvania corporation ("Professional"). Professional's principal
executive offices are located at 606 Broadway, Santa Monica, California 90401.
Item 2. Identity and Background.
George J. Budig
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(a) George J. Budig
(b) 1100 Gest Street, Cincinnati, Ohio 45203
(c) Mr. Budig is a 50% shareholder, a director and the President of
George E. Fern Co. which is engaged in the business of providing
convention services. He conducts his investment activities from
the address listed in (b) above.
(d) Mr. Budig, during the last five years, has not been convicted in
a criminal proceeding, excluding traffic violations or similar
misdemeanors.
(e) Mr. Budig, during the last five years, has not been a party to a
civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in Mr. Budig being at any
time subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any
violation with respect to such laws.
(f) United States citizen.
George E. Fern Co.
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(a) George E. Fern Co.
(b) 1100 Gest Street, Cincinnati, Ohio 45203
(c) George E. Fern Co. is engaged in the business of providing
convention and exposition services.
(d) George E. Fern Co., during the last five years, has not been
convicted in a criminal proceeding, excluding traffic violations
or similar misdemeanors.
(e) George E. Fern Co., during the last five years, has not been a
party to a civil proceeding of a judicial or administrative body
of competent jurisdiction which resulted in George E. Fern Co.
being at any time subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or
finding any violation with respect to such laws.
(f) Ohio corporation.
Item 3. Source and Amount of Funds or Other Consideration.
Mr. Budig and George E. Fern Co. have utilized personal funds in connection
with acquisitions to date of the Common Stock.
Item 4. Purpose of Transaction.
Mr. Budig and George E. Fern Co. own the securities reported in this
Schedule 13D for investment purposes. Mr. Budig and George E. Fern Co. may also
acquire additional securities of Professional from time-to-time. They will
monitor their investment in Professional and, in the future, may make additional
acquisitions or dispositions of that stock.
<PAGE>
Except as set forth above, they do not have any plans or proposals which
relate to or would result in:
4.1 The acquisition by any person of additional securities of the issuer,
or the disposition of securities of the issuer;
4.2 An extraordinary corporation transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
4.3 A sale or transfer of a material amount of assets of the issuer or of
any of its subsidiaries;
4.4 Any change in the present board of directors or management of the
issuer, including any plans or proposals to change the number or term
of directors or to fill any existing vacancies on the board;
4.5 Any material change in the present capitalization or dividend policy
of the issuer;
4.6 Any other material change in the issuer's business or corporate
structure;
4.7 Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the issuer by any person;
4.8 Causing a class of securities of the issuer to be delisted from a
national securities exchange or to cease to be authorized to be quoted
in an inter-dealer quotation system of a registered national
securities association;
4.9 A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act;
or
4.10 Any action similar to any of those enumerated above.
Item 5. Interest in Securities of Issuer.
I. George J. Budig
(a) See page 2, nos. 11 and 13.
(b) See page 2, nos. 7-10.
(c) All of the following trades were made in the last 60 days:
Date Transaction Number of Shares Price
------- ----------- ---------------- ------------
6/8/00 Buy 11,000 $3.56/sh
6/12/00 Buy 3,000 $4.85/sh
6/13/00 Buy 9,000 $4.00/sh
6/15/00 Buy 4,000 $3.875/sh
6/16/00 Buy 1,000 $3.50/sh
6/20/00 Buy 2,000 $3.50/sh
6/21/00 Buy 2,000 $3.5625/sh
6/27/00 Buy 2,000 $3.625/sh
6/29/00 Buy 6,000 $3.50/sh
7/11/00 Buy 3,000 $4.25/sh
All transactions were made in the open market.
<PAGE>
(d) None.
(e) Not Applicable.
II. George E. Fern Co.
(a) See page 3, nos. 11 and 13.
(b) See page 3, nos. 7-10.
(c) All of the following trades were made in the last 60 days:
None
(d) None.
(e) Not Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with respect
to Securities of the Issuer.
It is understood that Mr. Budig and George E. Fern Co. will vote their
shares together and act in concert with respect to their objectives as to
Professional.
Item 7. Material to be filed as Exhibits.
1. Powers of Attorney executed in connection with filings under the
Securities Exchange Act of 1934
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
Dated: July 12, 2000 /s/ George J. Budig
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George J. Budig
GEORGE E. FERN CO.
By: /s/ George J. Budig
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George J. Budig
President
<PAGE>
EXHIBIT 1.1
POWER OF ATTORNEY
I, GEORGE J. BUDIG, hereby appoint EDWARD E. STEINER and F. MARK REUTER, or
either of them, as my true and lawful attorney-in-fact to sign on my behalf
individually and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand this 12th day of July,
2000.
/s/ George J. Budig
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GEORGE J. BUDIG
<PAGE>
EXHIBIT 1.2
POWER OF ATTORNEY
As President of GEORGE E. FERN CO., I, GEORGE J. BUDIG, hereby appoint
EDWARD E. STEINER and F. MARK REUTER, or either of them, as the true and lawful
attorney-in-fact of George E. Fern Co. to sign on its behalf individually and to
file with the Securities and Exchange Commission any schedules or other filings
or amendments thereto made by George E. Fern Co. pursuant to Section 13(d) of
the Securities and Exchange Act of 1934.
IN WITNESS WHEREOF, I have hereunto set my hand on behalf of GEORGE E. FERN
CO. this 12th day of July, 2000.
GEORGE E. FERN CO.
By: /s/ George J. Budig
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George J. Budig
President
