United States
Securities and Exchange Commission
Washington DC 20549
Schedule 13D/A
Under the Securities and Exchange Act of 1934
(Amendment No. 1)
Wilshire Financial Services Group Inc
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(Name of Issuer)
Common Stock, Par Value $.01
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Title of Class of Securities
971867205
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(CUSIP Number)
Howard Amster, 23811 Chagrin Blvd., suite 200
Beachwood Ohio 44122-5525 (216) 595-1047
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
8/30/2000
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(Date of Event Which Requires Filing of this Statement)
If this filing person has previously filed a statement on Schedule 13G to
report this 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 to the
subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page.
This 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)
Cusip No 971867207 13D Amendment #1 Page 2
1 Name of Reporting Person HOWARD AMSTER
2 If a member group a) / /
b) /X/
3 SEC Use only
4 Source of Funds PF
5 Check if Disclosure
6 Citizenship USA
Number of Shares 7 Sole Voting 1,263,000
8 Shared Voting 170,000
9 Sole Dispositive 1,263,000
10 Shared Dispositive 170,000
11 Aggregate Amount Beneficially owned 1,433,000
12 Check if Aggregate Amount (11) Excludes Certain Shares
13 Percent of Class Represented by amount in row (11) 7.15%
14 Type of Reporting Person IN
Cusip No 971867205 13D Amendment #1 Page 3
1 Name of Reporting Person Amster Trading Company
2 If a member group a) / /
b) /X/
3 SEC Use only
4 Source of Funds WC
5 Check if Disclosure
6 Citizenship or Place of Organization USA
Number of Shares 7 Sole Voting
8 Shared Voting 170,000
9 Sole Dispositive
10 Shared Dispositive 170,000
11 Aggregate Amount Beneficially owned 170,000
12 Check if Aggregate Amount (11) Excludes Certain Shares
13 Percent of Class Represented by amount in row (11) .85%
14 Type of Reporting Person CO
Cusip No 971867205 13D Amendment #1 Page 4
1 Name of Reporting Person Ramat Securities Ltd
2 If a member group a) / /
b) /X/
3 SEC Use only
4 Source of Funds WC
5 Check if Disclosure
6 Citizenship or Place of Organization USA
Number of shares 7 Sole Voting 165,700
8 Shared Voting
9 Sole Dispositive 165,700
10 Shared Dispositive
11 Aggregate Amount Beneficially owned 165,700
12 Check if Aggregate Amount (11) Excludes Certain Shares
13 Percent of Class Represented by amount in row (11) .83%
14 Type of Reporting Person BD
SCHEDULE 13D/ AMENDMENT #1
CUSIP 971867205 WILSHIRE FINANCIAL SERVICES GROUP INC.
There are no changes to the Schedule 13D, as amended except as follows:
Item 3. Source and Amount of Funds or Other Consideration
Howard Amster, in his individual retirement accounts purchased
additional shares with personal funds without borrowing. The total
consideration for the purchases is $ 219,340.75.
Amster Trading Company purchased additional shares with working capital without
borrowing. The total consideration for the purchase is $ 78,750.00.
Ramat Securities Ltd purchased additional shares with working capital without
borrowing. The total consideration of the purchases is $ 28,370.55.
Item 5. Interest in Securities of the Issuer
(a)(b) The aggregate amount owned by the Reporting Persons is 1,598,700
shares or 7.98 % of the outstanding shares.
Howard Amster in his individual retirement accounts owns
1,263,000 shares or 6.3 % of the outstanding shares.
Amster Trading company owns 170,000 shares or 0.85 % of the outstanding shares.
Ramat Securities Ltd owns 165,700 shares or 0.83 % of the outstanding shares.
(c) Trades executed on the over-the-counter bulletin board as
an open market transaction.
<TABLE> <CAPTION>
<S> <C> <C>
Identity Date Shares Price Executing broker
Howard Amster's 5/10/00 125,000 1.1875 Bear Stearns
Individual Retirement 5/12/00 5,000 1.25 Bear Stearns
Accounts 7/27/00 53,000 1.2185 Friedman, Billings
Amster Trading 8/30/00 70,000 1.125 Friedman, Billings
Company
Ramat Securities Ltd Shares bought
5/8/00 2,000 1.1637 Jefferies & Co
5/9/00 2,000 1.1637 Jefferies & Co
5/10/00 3,000 1.1612 Jefferies & Co
5/15/00 2,000 1.2575 Jefferies & Co
5/17/00 2,000 1.2575 Jefferies & Co
5/18/00 2,000 1.2575 Jefferies & Co
7/25/00 3,500 1.1875 Bear Stearns
7/27/00 7,000 1.2187 Friedman, Billings
Shares sold
5/19/00 500 1.1875 Bear Stearns
5/22/00 2,400 1.1875 Bear Stearns
5/22/00 1,400 1.25 Bear Stearns
5/25/00 2,000 1.8125 Bear Stearns
5/25/00 1,500 1.875 Bear Stearns
</TABLE>
Signature After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in
this statement is true, complete and correct.
Date: 8/31/00 Howard Amster Amster Trading Company Ramat Securities Ltd
