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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 and 15(d) of the
Securities Exchange Act of 1934
Date of Report:
APRIL 13, 1995
BKLA BANCORP
State or other jurisdiction of incorporation:
CALIFORNIA
Commission File Number:
0-12851
IRS Employer Identification Number:
95-3840703
Address of Principal executive offices:
8901 SANTA MONICA BOULEVARD, WEST HOLLYWOOD, CALIFORNIA 90069
Registrant's telephone number:
(310) 550-8900
NOT APPLICABLE
(Former name or former address, if changed since last report)
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Item 1. Changes in Control of Registrant.
The new controlling interest of BKLA Bancorp ("BKLA") is
Investors Banking Corporation ("IBC"), a bank holding company
located in Salem, Oregon. The prior controlling persons of
BKLA were Arlen H. Andelson, Sherman Andelson, Mary Anne
Chalker, Irving Fuller, and Warner G. Scharff, collectively.
On March 29, 1995, IBC made a capital infusion in the amount
of $3,028,509.00 through the purchase of 2,019,006 units of
securities ("Unit"). Each Unit was comprised of two shares of
BKLA's Common Stock, no par value ("Common Stock"), and one
warrant, exercisable for three years after issuance, to
purchase Common Stock at $.75 per share. On March 30, 1995, a
second capital infusion occurred whereby IBC purchased an
additional 346,874 Units for $520,311.00. As a result of the
two capital infusion transactions on March 29 , 1995 and March
30, 1995, IBC purchased 4,731,760 shares of Common Stock
representing 79% of the total shares issued and outstanding as
of March 31, 1995. The ownership of these voting securities
is the basis of control. The amount and source of
consideration was $3,548,820.00 in cash for 2,365,880 Units.
There were no loans or pledges obtained by IBC for the purpose
of acquiring control of BKLA.
There are no arrangements or understandings among the former
control group and its associates on the one hand, and IBC.
The only other matter that has been agreed to is that an
offering of rights (Rights Offering) to purchase Common Stock
for the Company's shareholders other than IBC. The Rights
Offering will allow the Company's shareholders, other than
IBC, to increase their collective ownership in the Company to
approximately 45%. IBC will purchase any securities not
purchased by the other shareholders up to a maximum of
$2,000,000.00.
Item 2. Acquisition or Disposition of Assets
None
Item 3. Bankruptcy or Receivership
None
Item 4. Changes in Registrant's Certifying Accountant
None
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Item 5. Other Events
None
Item 6. Resignations of Registrant's Directors
None
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
a and b. Financial Statements
None
c. Exhibits
None
Item 8. Change in Fiscal Year
None
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant had duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
BKLA BANCORP
April 12, 1995 By: /s/ M.J. Burford
_____________________
M.J. Burford
Chairman of the Board
and Chief Executive Officer
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