SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934*
(AMENDMENT NO. 3)
HF Financial Corp.
(Name of Issuer)
Common Stock, $.01 Par Value
(Title of Class of Securities)
404172108
(CUSIP Number)
Jeffrey L. Gendell
Tontine Financial Partners, L.P.
200 Park Avenue, Suite 3900, New York, New York, 10166 (212)692-3695
(Name, address and telephone number of person
authorized to receive notices and communications)
December 30, 1998
(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 [ ].
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 the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes 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).
[page 1 of 12]
<PAGE>
13D
CUSIP No. 404172108
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jeffrey L. Gendell
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
PF, 00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
6,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
283,350
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
6,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
283,350
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
289,350
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 6.1%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
[page 2 of 12]
<PAGE>
13D
CUSIP No. 404172108
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Tontine Management, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
283,350
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
283,350
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
283,350
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 6.0%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
OO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
[page 3 of 12]
<PAGE>
13D
CUSIP No. 404172108
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Tontine Financial Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC, 00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
283,350
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
283,350
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
283,350
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 6.0%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
[page 4 of 12]
<PAGE>
13D
CUSIP No. 404172108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Tontine Overseas Associates, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
00
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
-0-
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
-0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
-0-
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IA
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
[page 5 of 12]
<PAGE>
The Schedule 13D, initially filed on April 24, 1996 (the "Schedule 13D"),
by Jeffrey L. Gendell and Tontine Partners, L.P., relating to the Common Stock,
par value $.01 per share (the "Common Stock"), of HF Financial Corp., a
Delaware corporation (the "Company"), and subsequently amended by Amendment No.
1 on February 28, 1997, and Amendment No. 2 on October 31, 1997 is hereby
amended by this Amendment No. 3 to the Schedule 13D.
Item 3. Source and Amount of Funds and Other Consideration.
Item 3 is hereby amended and restated in its entirety.
The net investment cost (including commissions, if any) of the shares of
Common Stock owned directly by Mr. Gendell is approximately $34,025.
The net investment cost (including commissions, if any) of the shares of
Common Stock held by Tontine is approximately $2,636,848.
Neither TM nor TOA owns directly any shares of Common Stock.
The shares of Common Stock purchased by Mr. Gendell were purchased with
personal funds and on margin. The shares of Common Stock purchased by Tontine
and TFPO were purchased with working capital and on margin.
Mr. Gendell's margin transactions were with Prudential Securities Inc. or
ING Baring Furman Selz LLC, on such firms' usual terms and conditions.
Tontine's margin transactions were with ING Baring Furman Selz LLC, on such
firm's usual terms and conditions. All or part of the shares of Common Stock
held by Mr. Gendell or Tontine may from time to time be pledged with one or
more banking institutions or brokerage firms as collateral for loans made by
such bank(s) or brokerage firm(s) to Mr. Gendell or Tontine. Such loans bear
interest at a rate based upon the broker's call rate from time to time in
effect. Such indebtedness may be refinanced with other banks or broker-
dealers.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated in its entirety.
A. Jeffrey L. Gendell.
(a) Aggregate number of shares beneficially owned: 289,350
Percentage: 6.1%. The percentages used herein and in
the rest of Item 5 are calculated based upon the 4,753,218 shares of Common
Stock issued and outstanding as reflected in the Company's Form 10-Q for the
period ending September 30, 1998.
[page 6 of 12]
<PAGE>
(b) 1. Sole power to vote or direct vote: 6,000
2. Shared power to vote or direct vote: 283,350
3. Sole power to dispose or direct the disposition: 6,000
4. Shared power to dispose or direct the disposition: 283,350
(c) Mr. Gendell did not enter into any transactions in the Common
Stock of the Company within the last sixty days. The trading dates, number of
shares of Common Stock purchased or sold and the price per share for all
transactions in the Common Stock on behalf of Tontine and TFPO, which were all
in the open market are set forth in Schedules A and B, respectively, and are
incorporated by reference.
(d) Not applicable.
(e) Not applicable.
B. Tontine Financial Partners, L.P.
(a) Aggregate number of shares beneficially owned: 283,350.
Percentage: 6.0%.
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 283,350
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 283,350
(c) The trading dates, number of shares of Common Stock purchased
or sold and the price per share for all transactions in the Common Stock within
the last sixty days, which were all in the open market, are set forth in
Schedule A and are incorporated by reference.
(d) Tontine Management, L.L.C., the general partner of Tontine,
has the power to direct the affairs of Tontine, including decisions respecting
the disposition of the proceeds from the sale of the shares. Mr. Gendell is
the Managing Member of Tontine Management, L.L.C. and in that capacity directs
its operations.
(e) Not Applicable.
C. Tontine Management, L.L.C.
(a) Aggregate number of shares beneficially owned: 283,350
Percentage: 6.0%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 283,350
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 283,350
(c) The trading dates, number of shares of Common Stock purchased
or sold and the price per share for all transactions on behalf of Tontine in
the Common Stock within the last sixty days, which were all in the open market,
are set forth in Schedule A and are incorporated by reference.
(d) Mr. Gendell is the Managing Member of Tontine Management,
L.L.C., and has the power to direct the affairs of Tontine, including decisions
respecting the disposition of the proceeds from the sale of the shares with
respect to Tontine.
(e) Not Applicable.
[page 7 of 12]
<PAGE>
D. Tontine Overseas Associates, L.L.C.
(a) Aggregate number of shares beneficially owned: -0-
Percentage: 0%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: -0-
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: -0-
(c) The trading dates, number of shares of Common Stock purchased
or sold and the price per share for all transactions in the Common Stock on
behalf of clients (including TFPO) within the last sixty days, which were all
in the open market, are set forth in Schedule B and are incorporated by
reference.
(d) Each of the clients of TOA has the power to direct the receipt
of dividends from or the proceeds of sale of such shares.
(e) Not Applicable.
[page 8 of 12]
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: December 31, 1998 /s/ JEFFREY L. GENDELL
Jeffrey L. Gendell, individually, and as
managing member of
Tontine Management, L.L.C.,
general partner of
Tontine Financial Partners, L.P.
and as managing member of
Tontine Overseas Associates, L.L.C.
[page 9 of 12]
<PAGE>
Schedule A
TONTINE FINANCIAL PARTNERS, L.P.
Date of Price Per Share
Transaction Number of Shares (including
Purchased/(Sold) Commissions, if any)
12/30/98 74,600 18.38
[page 10 of 12]
<PAGE>
Schedule B
TONTINE OVERSEAS ASSOCIATES, L.L.C. - MANAGED ACCOUNTS
Price Per Share
Date of Number of Shares (including commissions,
Transaction Entity Purchased/(Sold) if any)
12/30/98 TFPO 50,400 18.38
[page 11 of 12]
<PAGE>
