UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
PACIFIC CREST CAPITAL, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
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(Title of Class of Securities)
694166109
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(CUSIP Number)
Mr. Terry Maltese,
Sandler O'Neill Asset Management LLC,
712 Fifth Avenue - 22nd Floor,
New York, NY 10019
(212) 974-1700
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(Name, Address, Telephone Number of Person Authorized
to Receive Notices and Communications)
May 19, 1998
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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).
Page 1 of 13 Pages
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CUSIP No. 694166109 Page 2 of 13 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sandler O'Neill Asset Management LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
00
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5. CHECK BOX 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
New York
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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE VOTING POWER
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED VOTING POWER
141,000
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9. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE DISPOSITIVE POWER
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10. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED DISPOSITIVE POWER
141,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
141,000
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
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14. TYPE OF REPORTING PERSON
00
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CUSIP No. 694166109 Page 3 of 13 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SOAM Holdings, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
00
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5. CHECK BOX 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
Delaware
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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE VOTING POWER
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED VOTING POWER
141,000
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9. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE DISPOSITIVE POWER
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10. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED DISPOSITIVE POWER
141,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
141,000
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
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14. TYPE OF REPORTING PERSON
00
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CUSIP No. 694166109 Page 4 of 13 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Partners, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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5. CHECK BOX 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
Delaware
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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE VOTING POWER
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED VOTING POWER
78,200
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9. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE DISPOSITIVE POWER
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10. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED DISPOSITIVE POWER
78,200
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
78,200
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
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14. TYPE OF REPORTING PERSON
PN
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CUSIP No. 694166109 Page 5 of 13 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Partners II, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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5. CHECK BOX 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
Delaware
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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE VOTING POWER
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED VOTING POWER
19,700
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9. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE DISPOSITIVE POWER
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10. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED DISPOSITIVE POWER
19,700
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
19,700
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
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14. TYPE OF REPORTING PERSON
PN
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CUSIP No. 694166109 Page 6 of 13 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Hedge Fund, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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5. CHECK BOX 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
Delaware
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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE VOTING POWER
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED VOTING POWER
36,400
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9. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE DISPOSITIVE POWER
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10. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED DISPOSITIVE POWER
36,400
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
36,400
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
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14. TYPE OF REPORTING PERSON
PN
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<PAGE>
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CUSIP No. 694166109 Page 7 of 13 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Hedge Fund II, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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5. CHECK BOX 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
Delaware
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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE VOTING POWER
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED VOTING POWER
6,700
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9. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE DISPOSITIVE POWER
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10. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED DISPOSITIVE POWER
6,700
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
6,700
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
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14. TYPE OF REPORTING PERSON
PN
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CUSIP No. 694166109 Page 8 of 13 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Terry Maltese
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
00
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5. CHECK BOX 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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7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE VOTING POWER
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8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED VOTING POWER
141,000
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9. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SOLE DISPOSITIVE POWER
- --------------------------------------------------------------------------------
10. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH SHARED DISPOSITIVE POWER
141,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
141,000
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
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14. TYPE OF REPORTING PERSON
IN
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<PAGE>
This Amendment No. 3 to Schedule 13D relating to Pacific Crest Capital,
Inc. is being filed on behalf of the undersigned to amend the Schedule 13D dated
June 17, 1997, as amended by Amendment No. 1 to the Schedule 13D dated July 22,
1997 and Amendment No. 2 to the Schedule 13D dated March 16, 1998 (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, MHF, MPII and MHFII is $926,685, $427,880,
$233,527 and $78,875, respectively. Such shares were purchased with the
investment capital of the respective entities.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is hereby amended in its entirety to read as
follows:
(a) Based upon an aggregate of 2,982,807 shares of Common Stock
outstanding, as set forth in the Issuer's Quarterly Report on Form 10-Q for
the quarter ended March 31, 1998, as of the close of business on
May 19, 1998:
(i) MP beneficially owned 78,200 shares of Common Stock,
constituting approximately 2.6% of the shares outstanding.
(ii) MPII beneficially owned 19,700 shares of Common Stock,
constituting approximately 0.7% of the shares outstanding.
(iii) MHF beneficially owned 36,400 shares of Common Stock,
constituting approximately 1.2% of the shares outstanding.
(iv) MHFII beneficially owned 6,700 shares of Common Stock,
constituting approximately 0.2% of the shares outstanding.
Page 9 of 13
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(v) Holdings owned directly no shares of Common Stock. By reason of
its position as general partner of MP, MPII, MHF and MHFII,
under the provisions of Rule 13d-3 of the Securities and
Exchange Commission ("Rule 13d-3"), Holdings may be deemed to
beneficially own the 78,200 shares owned by MP, the 19,700
shares owned by MPII, the 36,400 shares owned by MHF, and the
6,700 shares owned by MHFII or an aggregate of 141,000 shares
of Common Stock, constituting approximately 4.7% of the shares
outstanding.
(vi) SOAM owned directly no shares of Common Stock. By reason of its
position as management company for MP, MPII, MHF and MHFII,
under the provisions of Rule 13d-3, SOAM may be deemed to
beneficially own the 78,200 shares owned by MP, the 19,700
shares owned by MPII, the 36,400 shares owned by MHF, and the
6,700 shares owned by MHFII or an aggregate of 141,000 shares
of Common Stock, constituting approximately 4.7% of the shares
outstanding.
(vii) 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 78,200 shares owned by
MP, the 19,700 shares owned by MPII, the 36,400 shares owned by
MHF, and the 6,700 shares owned by MHFII or an aggregate of
141,000 shares of Common Stock, constituting approximately 4.7%
of the shares outstanding.
(viii) In the aggregate, the Reporting Persons beneficially own an
aggregate of 141,000 shares of Common Stock, constituting
approximately 4.7% of the shares outstanding.
(ix) 2WTC directly owned no shares of Common Stock.
(b) The Partnerships each have the power to dispose of and to vote
the shares of Common Stock beneficially owned by it, which power may be
exercised by its general partner, Holdings. Holdings is a party to a
management agreement with SOAM pursuant to which SOAM shares the power to
dispose of and to vote the shares of Common Stock beneficially owned by
Holdings. Mr. Maltese, as President and managing member of Holdings and
SOAM, shares the power to dispose of and to vote the shares of Common Stock
beneficially owned by the other Reporting Persons.
(c) Since the date of the filing of the Schedule 13D, MP effected the
following transactions:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
04/28/98 Sold 2,800 $20.125
05/08/98 Sold 4,200 $20.375
05/19/98 Sold 2,800 $20.125
Page 10 of 13
<PAGE>
Since the date of the filing of the Schedule 13D, MHF effected the
following transactions:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
04/28/98 Sold 1,300 $20.125
05/08/98 Sold 1,900 $20.375
05/19/98 Sold 1,300 $20.125
Since the date of the filing of the Schedule 13D, MPII effected the
following transactions:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
04/28/98 Sold 700 $20.125
05/08/98 Sold 1,000 $20.375
05/19/98 Sold 700 $20.125
Since the date of the filing of the Schedule 13D, MHFII effected the
following transactions:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
04/28/98 Sold 200 $20.125
05/08/98 Sold 400 $20.375
05/19/98 Sold 200 $20.125
(d) Not applicable.
(e) Not applicable.
Page 11 of 13
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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: May 27, 1998
MALTA PARTNERS, L.P.
By: SOAM Holdings, LLC,
the sole general partner
By: /s/ Terry Maltese
---------------------------
Terry Maltese
President
MALTA PARTNERS II, 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
MALTA HEDGE FUND II, L.P.
By: SOAM Holdings, LLC,
the sole general partner
By: /s/ Terry Maltese
---------------------------
Terry Maltese
President
Page 12 of 13
<PAGE>
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 13 of 13
