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UNITED STATES OMB APPROVAL
SECURITIES AND EXCHANGE COMMISSION --------------------
Washington, D.C. 20549 OMB Number: 3235-
0145
SCHEDULE 13D --------------------
Expires: October 31,
Under the Securities Exchange Act of 1934 2002
(Amendment No._________)* --------------------
Estimated Average
burden
hours per response..
14.9
--------------------
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 #200
BEACHWOOD, OHIO 44122-5525 (216)595-1047
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
4/24/00
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(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 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).
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CUSIP No. 971867205 13D Page of Pages
--------- --- ---
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
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(3) SEC Use Only
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(4) Source of Funds*
PF
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
USA
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Number of Shares (7) Sole Voting
Beneficially Owned Power 1080000
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 100000
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(9) Sole Dispositive
Power 1080000
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(10) Shared Dispositive
Power 100000
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1330000
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
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(13) Percent of Class Represented by Amount in Row (11)
6.639%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 971867205 13D Page of Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING COMPANY
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
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(3) SEC Use Only
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(4) Source of Funds*
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
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Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 100000
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(9) Sole Dispositive
Power
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(10) Shared Dispositive
Power 100000
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
100000
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
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(13) Percent of Class Represented by Amount in Row (11)
.499%
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(14) Type of Reporting Person*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 971867205 13D Page of Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
RAMAT SECURITIES LTD
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
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(3) SEC Use Only
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(4) Source of Funds*
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 150000
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 150000
--------------------------------------------------
(10) Shared Dispositive
Power
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
150000
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.749%
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(14) Type of Reporting Person*
BD
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP 971867205
Item 1. Security and Issuer Wilshire Financial Services Group Inc.
1776 SW Madison Street
Portland, OR 97205
(503) 223-5600
Item 2. Identity and Background
Howard Amster is a 99% owner of Amster Trading Company and as such can be deemed
the beneficial owner of such entity and may be deemed to have shared voting and
dispositive power over shares owned by Amster Trading Company.
Howard Amster is a 83% owner of Ramat Securities Ltd. Howard Amster can be
deemed to be a beneficial owner of any securities owned by Ramat Securities Ltd.
but because he does not control the voting or dispositive power of any
securities owned by Ramat Securities Ltd., Mr. Amster disclaims shared voting
power and shared dispositive power of those shares.
a) Howard Amster
b) 25812 Fairmount Blvd, Beachwood, Ohio 44122
c) Present principal occupation-Financial Advisor, First Union
Securities Securities Brokerage Firm-23811 Chagrin Blvd #200,
Beachwood, Oh 44122
d) Howard Amster has not been convicted in any criminal
proceedings (excluding traffic violations or similar misdemeanors, if
any) within the last five years.
e) Howard Amster has not been a party to any civil proceedings of
a judicial or administrative body of competent jurisdiction of the type
described in Item 2 of Schedule 13D within the last five years.
f) USA
Amster Trading Company, 25812 Fairmount Blvd, Beachwood, Ohio 44122
Investments
d) Neither the officers, directors, or shareholders of Amster
Trading Company have been convicted in any criminal proceedings
(excluding traffic violations or similar misdemeanors, if any) within
the last five years.
e) Neither the officers, directors or shareholders of Amster
Trading Company have been a party to any civil proceedings of a
judicial or administrative body of competent jurisdiction of the type
described in Item 2 of Schedule 13D within the last five years.
Ramat Securities Ltd, 23811 Chagrin Blvd, Suite 200, Beachwood, Ohio 44122
Broker Dealer
d) Neither the members or unitholders of Ramat Securities Ltd
have been convicted in any criminal proceedings (excluding the traffic
violations or similar misdemeanors, if any) within the last five years.
e) Neither the members or unitholders of Ramat Securities Ltd
have been a a party to any civil proceedings of a judicial or
administrative body or competent jurisdictions of the type described in
Item 2 of Schedule 13D within the last five years.
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Item 3. Source and Amount of Funds or Other Consideration
Howard Amster, in his individual retirement accounts purchased all the Wilshire
Financial Services Group, Inc. common stock with personal funds without
borrowing. the total consideration of the purchases is $ 1,126,250.00.
Amster Trading Company purchased all the Wilshire Financial Services Group, Inc.
common stock with working capital without borrowing. The total consideration of
the purchases is $ 95,750.00.
Ramat Securities Ltd purchased all the Wilshire Financial Services Group, Inc.
common stock with working capital without borrowing. The total consideration of
the purchases is $ 143,640.00.
Item 4. Purpose of Transaction.
Howard Amster, Amster Trading Company, and Ramat Securities Ltd. acquired their
shares for purposes of investment. They may be deemed to be a group.
There are no present plans or proposals by any of the purchasers of record or
the beneficial owners as reported in this Schedule 13D which relate to or would
result in the following:
a) The acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer provided,
however, the reporting person might acquire additional shares or other
securities of the issuer or dispose of some or all of their shares
depending upon market conditions and their personal circumstances;
b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
c) A sale or transfer of a material amount of assets of the
issuer or any of its subsidiaries;
d) any change in the present board of directors or management of
the issuer, including any plans or proposals to change the number of
terms of directors or to fill any existing vacancies on the board;
e) Any material change in the present capitalization or dividend
policy of the issuer;
f) Any other material in the issuer's business or corporate
structure;
g) Changes in the issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the acquisition
of control of the issuer by any person;
h) Causing a class of securities of the issuer to be delisted
from a national securities exchange or cease to be authorized to be
quoted in an inter-dealer quotation system of a registered national
securities association;
i) A class of equity securities of the issuer becoming eligible
for termination of registration pursuant to Section 12(g)(4) of the
Act; or
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j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer
(a)(b) The aggregate amount owned by the Reporting Persons is 1,330,000
shares or 6.639 % of the outstanding shares.
Howard Amster in his individual retirement accounts owns 1,080,000 shares or
5.391 % of the outstanding shares.
Amster Trading Company owns 100,000 shares or 0.499 % of the outstanding shares.
Ramat Securities Ltd owns 150,000 shares or 0.749 % of the outstanding shares.
c) The following table reflects dates bought, shares and price. All shares
executed on the Over-The-Counter/ Bulletin Board as an Open Market Transaction
by Bear Stearns.
<TABLE>
<CAPTION>
Howard Amster's individual retirement accounts.
<S> <C> <C>
4/7/00 130,000 .9375
4/10/00 425,000 .995588
4/11/00 10,000 1.0625
4/12/00 100,000 1.09375
4/13/00 75,000 1.0642
4/14/00 10,000 1.0625
4/24/00 300,000 1.125
4/26/00 30,000 1.1179
Amster Trading Company
4/7/00 100,000 .9575
Ramat Securities Ltd
4/7/00 150,000 .9576
</TABLE>
Item 6 Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
There are no contracts, arrangements, understandings or relationships with
respect to securities of the issuer with any persons except as set forth
In items 2, 3, 5 above.
Item 7 Material to be filed as exhibits. None
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: 4/28/00
/s/ /s/ /s/
Howard Amster Amster Trading Company Ramat Securities Ltd.
