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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 4, 1998
Commission file number 2-76555
ELDORADO BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Delaware 33-0720548
(State or other jurisdiction of (I.R.S. Employer or
incorporation or organization) Identification No.)
24012 Calle de la Plata, Suite 150, Laguna Hills, California 92653
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(Address of principal executive offices) (Zip Code)
(949) 699-4344
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(Registrant's telephone number, including area code)
COMMERCE SECURITY BANCORP, INC.
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On September 4, 1998, Commerce Security Bancorp, Inc. changed its name to
Eldorado Bancshares, Inc. (the "Company"). The Company's ticker symbol has
been changed to "ELBI".
On September 4, 1998, the Board of Directors of the Company announced a
two-for-one reverse stock split of its common stock. As a result of the
reverse split, the total number of shares of common stock outstanding was
reduced from 18,347,397 shares to 9,173,699 shares, (subject to any
adjustments for fractional shares).
Coincidental with the two-for-one reverse split, the Company converted its
"Special Common Stock" and "Class B Common Stock" to "Common Stock",
eliminating the liquidation preferences formally afforded the holders of the
"Special Common Stock".
Of the 4,825,718 shares of common stock designated as "Special Common Stock"
prior to the reverse split, 463,913 shares were designated as "Non-voting
Special Common Stock". These shares were converted to "Non-voting Common
Stock", eliminating the liquidation preference but retaining the non-voting
limitation. With the exception of these shares, the remaining shares of
"Common Stock" will retain the right to one vote per share.
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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 hereunto duly authorized.
ELDORADO BANCSHARES, INC.
September 18, 1998 By: /s/ John L. Gordon
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John L. Gordon
Senior Vice President
Chief Financial Officer
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