SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
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ALLIANCE BANCORP
(Name of Registrant as Specified in its Charter)
LA SALLE FINANCIAL PARTNERS, LIMITED PARTNERSHIP AND
THE COMMITTEE TO MAXIMIZE SHAREHOLDER VALUE
(Name of Person(s) Filing Proxy Statement if other than
the Registrant)
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<PAGE>
LA SALLE FINANCIAL PARTNERS, L. P.
and
The Committee to Maximize Shareholder Value
Suite 405
259 E. Michigan Avenue
Kalamazoo, Michigan 49007
June 10, 1999
TO OUR FELLOW SHAREHOLDERS:
The time before the Alliance Bancorp meeting grows short, and the most important
issue for shareholders to focus on is very straightforward: DO YOU THINK THE
ELECTION OF THE COMMITTEE'S THREE HIGHLY QUALIFIED INDEPENDENT DIRECTORS WILL
HELP INCREASE THE VALUE OF YOUR INVESTMENT IN ALLIANCE BANCORP?
NATIONALLY RECOGNIZED INDEPENDENT AUTHORITY
RECOMMENDS A VOTE FOR THE COMMITTEE'S DIRECTOR NOMINEES
You have now received many mailings about our nominees and management's.
Although we believe the issues are clear, we know that it can be confusing to
receive so much conflicting information. Institutional Shareholder Services
(ISS), is an independent organization retained by many institutional owners and
mutual funds, who collectively manage tens of billions of dollars, to help them
analyze complex voting issues and determine what is in their best interest.
After talking with both Alliance Bancorp's management and the Committee, ISS HAS
ISSUED A WRITTEN REPORT RECOMMENDING THAT ITS CLIENTS SUPPORT THE LA SALLE
NOMINEES.
$3.5 MILLION OF OUR MONEY
Of the many misimpressions management has tried to create in its recent letter
to shareholders, we would like to particularly address their statement that the
Committee nominees "have not invested one single dollar of their own funds in
Alliance Bancorp common stock." IN FACT, PETER KROSS, ONE OF THE MANAGING
PARTNERS OF LA SALLE, AND NOMINEE RICHARD NELSON HAVE A STAKE OF OVER $3.5
MILLION IN ALLIANCE BANCORP THROUGH LA SALLE FINANCIAL PARTNERS. And this
investment in Alliance wasn't accomplished through stock option exercises or
merger consideration unlike a significant portion of the Alliance shares owned
by management and the board.
WHAT IS THE TRUTH?
Management has attacked our plans and our motives. We're not surprised at this
response, given the positive reaction we've received from many shareholders.
What management HASN'T done is to provide clear answers to the question that is
of paramount concern:
<PAGE>
IS THE COMPANY REALLY NEGOTIATING A SALE? Crain's Chicago Business
reported that Kenne Bristol confirmed that Alliance is entertaining an
offer to merge or sell. Mr. Bristol denied making the statement. Later,
Mr. Bristol was reported to have said "If opportunities make sense, we're
not closed-minded to them. No one runs a company forever." What is Mr.
Bristol really saying? Moreover, if the Company really has been
consulting with "top-tier" investment banking firms in connection with
possible merger and acquisition transactions, as they now claim, why
hasn't the Company publicly announced this before now, just prior to the
annual shareholders meeting? And why haven't they announced what
investment banking firms they have retained. IS THE COMPANY REALLY
SERIOUS ABOUT CONSIDERING A SALE, OR WILL THEIR OBJECTIVES CHANGE AFTER
THE SHAREHOLDER MEETING AND THIS PROXY CONTEST ARE OVER?
Since management seems prepared to address any topic EXCEPT the one most
important to shareholders, you'll have to decide for yourself whether they are
trying to create value or win votes.
TIME IS SHORT
Because your shares are held through a brokerage firm or bank, if you wish to
support our nominees, you must do one of the following to be certain your vote
is received in time for the meeting:
* Mail the enclosed GREEN proxy card today, if it is before June 16th; or
* If it is after June 16th, mail the GREEN Proxy AND call the person
responsible for your account and ask that the firm cast your vote for the
Committee's nominees on the GREEN proxy card.
We hope you will support us by voting the GREEN proxy today. Thank you for your
attention to this important matter.
Sincerely,
La Salle Financial Partners, L. P. The Committee to Maximize
Shareholder Value
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If you have any questions, please call The Altman Group,
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our proxy solicitors, toll-free at 1-800-206-0007.
