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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
Pacific Crest Capital, Inc.
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- -------------------------------------------------------------------------------
(Title of Class of Securities)
694166109
-------------------------------------------------------------------
(CUSIP Number)
Mr. Terry Maltese, Sandler O'Neill Asset Management LLC,
712 Fifth Avenue - 22nd Floor, New York, NY 10019 (212) 974-1700
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
July 14, 1997
-------------------------------------------------------------------
(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).
Page 1 of 9 pages.
No Exhibits are filed herewith.
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 694166109 PAGE 2 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sandler O'Neill Asset Management LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 198,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
198,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
198,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 694166109 PAGE 3 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SOAM Holdings, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 198,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
198,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
198,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 694166109 PAGE 4 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 140,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
140,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
140,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 5
SCHEDULE 13D
CUSIP NO. 694166109 PAGE 5 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Hedge Fund, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 58,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
58,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
58,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 6
SCHEDULE 13D
CUSIP NO. 694166109 PAGE 6 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Terry Maltese
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 198,000
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
198,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
198,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 7
This Amendment No. 1 to Schedule 13D relating to Pacific Crest Capital,
Inc. is being filed on behalf of the undersigned to amend the Schedule 13D filed
by the undersigned dated June 17, 1997 (the "Schedule 13D"). Terms defined in
the Schedule 13D and not defined herein have the same meaning as in the Schedule
13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS.
ITEM 3 OF THE SCHEDULE 13D IS HEREBY AMENDED IN ITS ENTIRETY TO READ AS
FOLLOWS:
The net investment cost (including commissions, if any) of the shares
of Common Stock held by MP and MHF is $1,687,218 and $693,343, respectively.
Such shares were purchased with the investment capital of the respective
entities.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
ITEM 5(a) OF THE SCHEDULE 13D IS HEREBY AMENDED IN ITS ENTIRETY TO READ
AS FOLLOWS:
(a) Based upon an aggregate of 2,967,367 shares of Common Stock outstanding, as
set forth in the Issuer's Quarterly Report on Form 10-Q for the quarter ended
March 31, 1997, as of the close of business on July 18, 1997:
(i) MP beneficially owned 140,000 shares of Common Stock,
constituting approximately 4.7% of the shares
outstanding.
(ii) MHF beneficially owned 58,000 shares of Common Stock,
constituting approximately 2.0% of the shares outstanding.
(iii) Holdings owned directly no shares of Common Stock. By
reason of its position as general partner of MP and MHF,
under the provisions of Rule 13d-3 of the Securities and
Exchange Commission ("Rule 13d-3"), Holdings may be
deemed to beneficially own the 140,000 shares owned by MP
and the 58,000 shares owned by MHF, or an aggregate of
198,000 shares of Common Stock, constituting
approximately 6.7% of the shares outstanding.
(iv) SOAM owned directly no shares of Common Stock. By reason
of its position as management company for MP and MHC,
under the provisions of Rule 13d-3, SOAM may be deemed to
beneficially own the 140,000 shares owned by MP and the
58,000 shares owned by MHF, or an aggregate of 198,000
shares of Common Stock, constituting approximately 6.7%
of the shares outstanding.
Page 7 of 9
<PAGE> 8
(v) Mr. Maltese directly owned no shares of Common Stock. By
reason of his position as President of Holdings and SOAM,
Mr. Maltese may be deemed to beneficially own the 140,000
shares owned by MP and the 58,000 shares owned by MHF, or
an aggregate of 198,000 shares of Common Stock, constituting
approximately 6.7% of the shares outstanding.
(vi) In the aggregate, the Reporting Persons beneficially owned an
aggregate of 198,000 shares of Common Stock, constituting
approximately 6.7% of the shares outstanding.
(vii) 2WTC directly owned no shares of Common Stock.
ITEM 5(c) OF THE SCHEDULE 13D IS HEREBY AMENDED BY ADDING THE
FOLLOWING:
(c) Since the date of the filing of the Schedule 13D, MP effected the following
transactions in the Common Stock in open market transactions with brokers:
<TABLE>
<CAPTION>
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
<C> <C> <C> <C>
7/09/97 Bought 3,500 $13.125
7/14/97 Bought 17,500 13.125
</TABLE>
Since the date of the filing of the Schedule 13D, MHF effected the
following transactions in the Common Stock in open market transactions with
brokers:
<TABLE>
<CAPTION>
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
<C> <C> <C> <C>
7/09/97 Bought 1,500 $13.125
7/14/97 Bought 7,500 13.125
</TABLE>
Page 8 of 9
<PAGE> 9
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: July 22, 1997
MALTA PARTNERS, L.P.
By: SOAM Holdings, LLC,
the sole general partner
By:/s/ Terry Maltese
-------------------------------------
Terry Maltese
President
MALTA HEDGE FUND, L.P.
By: SOAM Holdings, LLC,
the sole general partner
By:/s/ Terry Maltese
-------------------------------------
Terry Maltese
President
SOAM Holdings, LLC
By:/s/ Terry Maltese
-------------------------------------
Terry Maltese
President
Sandler O'Neill Asset Management LLC
By:/s/ Terry Maltese
-------------------------------------
Terry Maltese
President
By:/s/ Terry Maltese
-------------------------------------
Terry Maltese
Page 9 of 9
