<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Initial Filing - Changeover From Schedule 13G Reporting
WFS FINANCIAL INC
--------------------------------------------------------
(Name of Issuer)
Common Stock, without par value
--------------------------------------------------------
(Title of Class of Securities)
92923B
--------------------------------------------------------
(CUSIP Number)
ERNEST S. RADY
President
WFS Financial Inc
23 Pasteur Road
Irvine, CA 92718-3804
--------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 14, 1997
--------------------------------------------------------
(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.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Continued on following page(s))
Page 1 of 30 Pages
<PAGE> 2
CUSIP No. 92923B 13D Page 2 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTCORP
IRS ID No. 51-0308535
- ------------------------------------------------------------------------------
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
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
HC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP No. 92923B 13D Page 3 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN FINANCIAL BANK
IRS ID No. 94-2504080
- ------------------------------------------------------------------------------
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
PRINCIPAL PLACE OF BUSINESS: CALIFORNIA
- ------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
BK
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
CUSIP No. 92923B 13D Page 4 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ERNEST S. RADY AND ERNEST S. RADY TRUST
Social Security No. ###-##-####
- ------------------------------------------------------------------------------
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
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO + IN
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
CUSIP No. 92923B 13D Page 5 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EVELYN SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
Social Security No. ###-##-####
- ------------------------------------------------------------------------------
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
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO + IN
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 6
CUSIP No. 92923B 13D Page 6 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AVRETT ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
- ------------------------------------------------------------------------------
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
CANADA
- ------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
CUSIP No. 92923B 13D Page 7 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SILPIT INDUSTRIES CO., LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
- ------------------------------------------------------------------------------
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
CANADA
- ------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 8
CUSIP No. 92923B 13D Page 8 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MEMRAD HOLDINGS, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
- ------------------------------------------------------------------------------
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
CANADA
- ------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 9
CUSIP No. 92923B 13D Page 9 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AMERICAN ASSETS, INC.
I.R.S. ID NO. 95-249-3347
- ------------------------------------------------------------------------------
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
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 10
CUSIP No. 92923B 13D Page 10 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CANPAC ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
- ------------------------------------------------------------------------------
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
CANADA
- ------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 11
CUSIP No. 92923B 13D Page 11 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN INSURANCE HOLDINGS, INC.
I.R.S. ID NO. 95-2890041
- ------------------------------------------------------------------------------
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
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 12
CUSIP No. 92923B 13D Page 12 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INSURANCE COMPANY OF THE WEST
I.R.S. ID NO. 95-2769232
- ------------------------------------------------------------------------------
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
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 13
CUSIP No. 92923B 13D Page 13 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EXPLORER INSURANCE COMPANY
I.R.S. ID NO. 94-2784519
- ------------------------------------------------------------------------------
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
ARIZONA
- ------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 14
CUSIP No. 92923B 13D Page 14 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DHM Trust
I.R.S. ID NO. 33-6003176
- ------------------------------------------------------------------------------
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
CANADA
- ------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.48% (based on 25,736,111 shares outstanding)
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 15
Item 1. Security and Issuer.
Common Stock, $1.00 par value
WFS FINANCIAL INC
23 Pasteur Road
Irvine, CA 92718-3804
WESTCORP
(a) Westcorp
(b) The principal business address is:
23 Pasteur Road
Irvine, CA 92718-3804
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) United States Corporation.
WESTERN FINANCIAL BANK
(a) Western Financial Bank
(b) The principal business address is:
16485 Laguna Canyon Road
Irvine, CA 92618-3820
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) United States Corporation.
Item 2. Identity and Background.
ERNEST S. RADY AND ERNEST S. RADY TRUST
(a) Ernest S. Rady and Ernest S. Rady, Trustee
Mr. Rady's address is:
8144 Prestwick Drive
La Jolla, CA 92037
(b) The Trust's principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman,
President and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None.
(f) Citizenship: CANADA
EVERLY SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
(a) Evelyn Shirley Rady and Ernest S. Rady, Trustee
Mrs. Rady's address is:
8144 Prestwick Drive
La Jolla, CA 92037
(b) The Trust's principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman,
President and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: CANADA
Page 15 of 30 Pages
<PAGE> 16
AVRETT ENTERPRISES, LTD.
(a) Avrett Enterprises, Ltd.
(b) The principal business address is:
Avrett Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current conviction during the last five years: None
(d) Securities laws proceedings: None
(e) Canadian corporation.
SILPIT INDUSTRIES CO., LTD.
(a) Silpit Industries Co., Ltd.
(b) The principal business address is:
Silpit Industries Co., Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
MEMRAD HOLDINGS, LTD.
(a) Memrad Holdings, Ltd.
(b) The principal business address is:
Memrad Holdings, Ltd.
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
AMERICAN ASSETS, INC.
(a) American Assets, Inc.
(b) The principal business address is:
American Assets, Inc.
11455 El Camino Real
San Diego, California 92130-2045
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
Page 16 of 30 Pages
<PAGE> 17
CANPAC ENTERPRISES, LTD.
(a) Canpac Enterprises, Ltd.
(b) The principal business address is:
Canpac Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
WESTERN INSURANCE HOLDINGS, INC.
(a) Western Insurance Holdings, Inc.
(b) The principal business address is:
Western Insurance Holdings, Inc.
11455 El Camino Real
San Diego, California 92130-2045
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
INSURANCE COMPANY OF THE WEST
(a) Insurance Company of the West
(b) The principal business address is:
Insurance Company of the West
11455 El Camino Real
San Diego, California 92130-2045
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
EXPLORER INSURANCE COMPANY
(a) Explorer Insurance Company
(b) The principal business address is:
Explorer Insurance Company
11455 El Camino Real
San Diego, California 92130-2045
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Arizona corporation.
DHM TRUST
(a) DHM Trust, Ernest S. Rady, Trustee
Mr. Rady's address is:
8144 Prestwick Drive
La Jolla, CA 92037
(b) The Trust's principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman,
President and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
the Schedule 13D.
(d) Current conviction during last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: Canada
Identification of Members of the Group
(a) Westcorp
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C>
Ernest S. Rady Chairman of the Board, President
1844 Prestwick Drive and Chief Executive Officer
La Jolla, California 92037
Donald H. Kasle Senior Executive Vice President &
16485 Laguna Canyon Road Chief Administrative Officer,
Irvine, California 92618-3820 Director
Joy Schaefer Senior Executive Vice President &
23 Pasteur Road Chief Operating Officer
Irvine, California 92718-3804
Harriet Burns Feller Executive Vice President, General
23 Pasteur Road Counsel & Secretary
Irvine, California 92718-3804
Lee A. Whatcott Senior Vice President, Chief
23 Pasteur Road Financial Officer & Controller
Irvine, California 92718-3804
J. Keith Palmer Vice President & Treasurer
23 Pasteur Road
Irvine, California 92718-3804
Richard W. Stephan Senior Vice President
23 Pasteur Road
Irvine, California 92718-3804
Joan C. Van Winkle Assistant Vice President &
23 Pasteur Road Assistant Secretary
Irvine, California 92718-3804
Judith M. Bardwick Director
23 Pasteur Road
Irvine, California 92718-3804
William J. Crawford Director
23 Pasteur Road
Irvine, California 92718-3804
Alan L. Milligan Director
23 Pasteur Road
Irvine, California 92718-3804
Stanley E. Foster Director
23 Pasteur Road
Irvine, California 92718-3804
</TABLE>
Western Financial Bank, F.S.B.
<TABLE>
<CAPTION>
(a) Western Financial Bank
<S> <C>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
Ernest S. Rady Chairman of the Board
1844 Prestwick Drive
La Jolla, California 92037
Donald H. Kasle President & Chief Executive Officer
23 Pasteur Road
Irvine, California 92718-3804
Joy Schaefer Senior Executive Vice President
23 Pasteur Road & Chief Operating Officer
Irvine, California 92718-3804
Robert E. Adams Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Terrance P. Mungon Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Harriet Burns Feller Executive Vice President, Secretary
23 Pasteur Road & General Counsel
Irvine, California 92718-3804
Lee A. Whatcott Executive Vice President
23 Pasteur Road
Irvine, California
Richard W. Stephan Executive Vice President & Chief
23 Pasteur Road Information Officer
Irvine, California 92718-3804
Arthur Alvarez Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Michael Johnson Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
James E. Tecca Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Gary Plooster Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Kevin Farrenkopf Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Debbie Horton Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Craig Loe Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Mark Metzinger Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Richard Palmer Senior Vice President, Chief
16485 Laguna Canyon Road Financial Officer & Controller
Irvine, California 92618-3820
J. Keith Palmer Vice President and Treasurer
23 Pasteur Road
Irvine, California 92718-3804
Daniel Sussman Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Guy Du Bose Vice President & Associate General Counsel
23 Pasteur Road
Irvine, California 92718-3804
Joan C. Van Winkle Assistant Vice President & Assistant Secretary
23 Pasteur Road
Irvine, California 92718-3804
Judith M. Bardwick Director
23 Pasteur Road
Irvine, California 92718-3804
William J. Crawford Director
23 Pasteur Road
Irvine, California 92718-3804
Robert W. Jenkins Director
23 Pasteur Road
Irvine, California 92718-3804
Alan L. Milligan Director
23 Pasteur Road
Irvine, California 92718-3804
Stanley E. Foster Director
23 Pasteur Road
Irvine, California 92718-3804
</TABLE>
The Ernest S. Rady Trust
(a) Ernest S. Rady, Trustee
Page 17 of 30 Pages
<PAGE> 18
Evelyn Shirley Rady
(a) Ernest S. Rady, Trustee
Avrett Enterprises, Ltd.
(a) Avrett Enterprises, Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C>
Sylvia Silverberg President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Vice President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
</TABLE>
Silpit Industries Co., Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
(a) Silpit Industries Co., Ltd.
<S> <C>
David S. Kaufman President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
G.L. Stoddart Vice President
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
</TABLE>
Page 18 of 30 Pages
<PAGE> 19
<TABLE>
<S> <C>
Evelyn Rady Director
8144 Prestwick Drive
La Jolla, CA 92037
Sylvia Silverberg Director
70 Arthur Streer
Winnipeg, Manitoba
Canada R3B 1G7
Allan Kaufman Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
</TABLE>
Memrad Holdings, Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C>
(a) Memrad Holdings, Ltd.
Ernest S. Rady President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Marjorie Blankstein Vice President, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Morley Blankstein Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Mindel Olenick Secretary, Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Thomas Z. Olenick Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
</TABLE>
Page 19 of 30 Pages
<PAGE> 20
Brian Hirsch Secretary
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
American Assets, Inc.
(a) American Assets, Inc., a California corporation
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C>
Ernest S. Rady Chairman of the Board, President
8144 Prestwick Drive
La Jolla, CA 92037
Harry M. Rady Director
11455 El Camino Real
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real
San Diego, CA 92130-2045
John J. Chamberlain Chief Executive Officer, Senior
11455 El Camino Real Executive Vice President
San Diego, CA 92130-2045
Allen Garrett Executive Vice President, Chief
11455 El Camino Real Operating Officer
San Diego, CA 92130-2045
Valerie A McPherson Vice President, Chief Financial
11455 El Camino Real Officer, Secretary
San Diego, CA 92130-2045
James R. Cronemeyer Vice President, Commercial
11455 El Camino Real Property Management
San Diego, CA 92130-2045
Richard M. McKee Vice President - Construction
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Page 20 of 30 Pages
<PAGE> 21
Canpac Enterprises, Ltd.
(a) Canpac Enterprises, Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C>
Ernest S. Rady President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Brian Hirsch Secretary, Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
</TABLE>
Western Insurance Holdings, Inc.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C> <C>
(a) Western Insurance Holdings, Inc.
Ernest S. Rady Chairman of the Board
8144 Prestwick Drive
La Jolla, CA 92037
Bernard M. Feldman President, Director
11455 El Camino Real
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer,
11455 El Camino Real Director
San Diego, CA 92130-2045
James W. Austin III Secretary
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Page 21 of 30 Pages
<PAGE> 22
Insurance Company of the West
(a) Insurance Company of the West
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C>
Ernest S. Rady Chairman of the Board
8144 Prestwick Drive
La Jolla, CA 92037
Bernard M. Feldman President, Director
11455 El Camino Real
San Diego, CA 92130-2045
Richard S. King Director
11455 El Camino Real
San Diego, CA 92130-2045
Michael F. McAuliffe Director
11455 El Camino Real
San Diego, CA 92130-2045
Bruce N. Moore Director
11455 El Camino Real
San Diego, CA 92130-2045
James B. Rathbun Director
11455 El Camino Real
San Diego, CA 92130-2045
Charles E. Scribner Director
11455 El Camino Real
San Diego, CA 92130-2045
David S. Kaufman Director
11455 El Camino Real
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer
11455 El Camino Real
San Diego, CA 92130-2045
John L. Hannum Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Page 22 of 30 Pages
<PAGE> 23
<TABLE>
<S> <C>
James A. Currie Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
John A. Difalco Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Rory Read Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Walter F.A. Prayer Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
James W. Austin III Vice President, Secretary and
11455 El Camino Real General Counsel
San Diego, CA 92130-2045
Fariborz Rostamian Vice President, Controller
11455 El Camino Real
San Diego, CA 92130-2045
H. Edward Hire Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Gene P. Irizarry Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Leslie M. Obayashi Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Samuel A. Banks, Sr. Resident Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Dennis E. Osgood Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Bruce J. Schryver Vice President
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Page 23 of 30 Pages
<PAGE> 24
<TABLE>
<S> <C>
Daniel F. Reading Vice President
11455 El Camino Real
San Diego, CA 92130-2045
E. Harned Davis Vice President
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Explorer Insurance Company
(a) Explorer Insurance Company
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C>
Ernest S. Rady Chairman of the Board
8144 Prestwick Drive
La Jolla, CA 92037
Bernard M. Feldman President, Director
11455 El Camino Real
San Diego, CA 92130-2045
Frederick Bernard Tisovic Senior Vice President, Director
11455 El Camino Real
San Diego, CA 92130-2045
James W. Austin III Director
11455 El Camino Real
San Diego, CA 92130-2045
H. Michael Freet Treasurer, Director
11455 El Camino Real
San Diego, CA 92130-2045
John L. Hannum Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Gene P. Irizarry Vice President
11455 El Camino Real
San Diego, CA 92130-2045
E. Harned Davis Vice President
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Page 24 of 30 Pages
<PAGE> 25
<TABLE>
<S> <C>
John A. Difalco Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Fariborz Rostamian Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Raimundo Ruiz Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Mary E. Cannon Secretary
11455 El Camino Real
San Diego, CA 92130-2045
DHM Trust
(a) Ernest S. Rady Trustee
</TABLE>
DHM TRUST
(a) DHM Trust
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of November 24, 1997 Title
------------------------------------- -----
<S> <C>
Ernest S. Rady Trustee
8144 Prestwick Drive
La Jolla, CA 92037
</TABLE>
Page 25 of 30 Pages
<PAGE> 26
Item 3. Source and Amount of Funds and Other Consideration.
The consideration paid for the securities purchased was cash from
working capital.
Item 4. Purpose of Transaction.
Investment.
Item 5. Interest in Securities of the Issuer.
This filing is for the cumulative share holdings of an affiliated group
as of the close of business on November 24, 1997. The various entities named in
this Schedule 13D directly or indirectly collectively owned, as of such date,
21,741,222 outstanding shares of Common Stock of the Issuer (including 27,500
shares pursuant to options exercisable by the affiliated group within 60 days),
representing 84.48% of the outstanding shares of Common Stock of the Issuer
(including 27,500 shares pursuant to the above referenced options). Exhibit A
attached hereto and incorporated by this reference herein depicts the
relationship among the various affiliated companies in the "Rady" group as well
as the ownership interests of Westcorp and Western Financial Bank (which
entities are controlled by the Rady Group). There is no formal agreement to vote
or dispose of the shares of the issuer in a particular manner. The dispositive
and voting power of each of the trusts and companies shown on Schedule A is made
independent of the other, except to the extent that Mr. and Mrs. Rady may be
shareholders, officers and/or directors of the various companies and in that
respect are able to control disposition and voting of the shares of the Issuer
owned by each such company.
The following securities transactions occurred in the sixty (60) day
period preceding November 24, 1997:
November 5, 1997: Western Financial Bank purchased 10,000 shares
November 6, 1997: Western Financial Bank purchased 5,000 shares
November 7, 1997: Western Financial Bank purchased 2,000 shares
November 12, 1997: Western Financial Bank purchased 29,000 shares
November 13, 1997: Western Financial Bank purchased 20,000 shares
November 14, 1997: Western Financial Bank purchased 148,500 shares
November 21, 1997: Western Financial Bank purchased 100,000 shares
Page 26 of 30 Pages
<PAGE> 27
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer. See discussion under
item 5, above.
Additionally, pursuant to the provisions of the Ernest S. Rady Trust and
the Evelyn S. Rady Trust, Ernest S. Rady, as trustee, has the power to sell,
buy, retain, invest and reinvest the trusts' assets, which include
the shares of the Issuer's Common Stock.
Item 7. Material to be Filed as Exhibits.
Exhibit A: Organizational Chart of Rady Entities beneficially holding
shares in WFS Financial Inc.
Page 27 of 30 Pages
<PAGE> 28
SIGNATURE
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.
Westcorp
Dated: February 10, 1998 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, President
Western Financial Bank
Dated: February 10, 1998 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Ernest S. Rady Trust
Dated: February 10, 1998 /s/ Ernest S. Rady
--------------------------------------
Ernest S. Rady, Trustee
Evelyn Shirley Rady Trust
Dated: February 10, 1998 /s/ Ernest S. Rady
--------------------------------------
Ernest S. Rady, Trustee
American Assets, Inc.
Dated: February 10, 1998 By: /s/ Ernest S. Rady
----------------------------------
Ernest S. Rady, Chairman
Avrett Enterprises, Ltd.
Dated: February 10, 1998 By: /s/ Evelyn Rady
-----------------------------------
Evelyn Rady, Vice President
Canpac Enterprises, Ltd.
Dated: February 10, 1998 By: /s/ Ernest S. Rady
----------------------------------
Ernest S. Rady, President
Insurance Company of the West
Dated: February 10, 1998 By: /s/ Ernest S. Rady
----------------------------------
Ernest S. Rady, Chairman
Page 28 of 30 Pages
<PAGE> 29
<TABLE>
<S> <C>
Memrad Holdings, Ltd.
Dated: February 10, 1998 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, President
Silpit Industries Co., Ltd.
Dated: February 10, 1998 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Western Insurance Holdings, Inc.
Dated: February 10, 1998 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Explorer Insurance Inc.
Dated: February 10, 1998 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
DHM Trust
Dated: February 10, 1998 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Trustee
</TABLE>
Page 29 of 30 Pages
<PAGE> 30
Exhibit A
Organizational Chart of Rady Entities Beneficially
Holding Shares in WFS Financial Inc. as of November 24, 1997
HOLDING COMPANY STRUCTURE
----------------- -----------------
- -----------Ernest Rady Trust----------- Evelyn Rady Trust-------
/ --- ---- / ------/-----------
/ / ----------------- / / ----------------- / /
/ / / / / / / /
/ / / 47% / / / 50% 25.9% /
/ / / / / / / /
/ / ---------------------/ / ------------------------ / /
/ / Memrad Holdings, Ltd./ / Avrett Enterprises, Ltd.------ /
/ / ---------------------/ / ------------------------ / / /
/ / / / / / / / /
/ / / 62.5% 4.75% / / / /
/ / / / / / 35.9% / / /
/ / 44.9% / / / / / /
/ / / / / -------------------------- / 2.2% /
/ 15.2% / / / Silpit Industries Co. Ltd.-- / /
/ / / / / -------------------------- / /
/ / / / / / 25.4% / /
/ / / / / ------------------------ / /
/ / / -------/-----Canpac Enterprises, Ltd.---- /
/ / / / ------------------------ /
/ / / / / /
/ / / ----------------/------ /
/ / / --------------------- / / /
7.0% / -------American Assets, Inc.-- 24.3%-- / /
/ ---------------- / /
/ --------------------- / /
/ 48.5% / 88% / /
/ ----------------------------------------- / 0.7%
/ / / / /
/ / --------------------- /
/ / Western Ins. Holdings /
/ / --------------------- /
/ / / /
/ / / 100% /
/ / / /
/ / ------------------------- /
/ / ------------ 5.8% ------- Insurance Co. of the West /
/ --------- / / ------------------------- /
/ DHM Trust / / / /
/ .007% / / / 100% /
/ --------- / / / /
/ / / / ---------------------- /
/ / / / ---------- 0.1% --------- Explorer Insurance Co. /
/ / / / / ---------------------- /
/ / / / / /
/ /--------------- /
- --------------Westcorp----------------------------------------------------------
--------
/
/ 100%
/
-----------------
Western Financial
Bank
-----------------
/
/ 83.7%
/
-----------------
WFS Financial Inc
-----------------
Page 30 of 30 Pages
