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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) AUGUST 25, 1997
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CROWN NORTHCORP, INC.
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-22936 22-3172740
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(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1251 DUBLIN ROAD, COLUMBUS, OHIO 43215
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (614) 488-1169
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NOT APPLICABLE
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
Crown NorthCorp, Inc. (the "Company") has entered into a letter of
intent to acquire all of the stock of AMI Capital, Inc. ("AMI") in
exchange for cash, debt and stock of the Company. The transaction is
subject to final approval of a definitive agreement by the boards of
directors of the Company and ULLICO, Inc. (the parent of AMI), certain
regulatory approvals and other matters.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA INFORMATION AND EXHIBITS
(c) Exhibits
1. Press release issued by the Company and ULLICO, Inc. August 26, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
CROWN NORTHCORP, INC.
By: /s/ Stephen W. Brown
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Stephen W. Brown
Secretary
Date: August 26, 1997
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INDEX TO EXHIBITS
1. Press release issued by the Company and ULLICO, Inc. August 26, 1997.
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EXHIBIT 1
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NEWS RELEASE
August 26, 1997 Direct Inquiries to:
Stephen Brown, Secretary
Crown NorthCorp, Inc.
614/488-1169
CROWN NORTHCORP ANNOUNCES PLANS TO ACQUIRE
AMI CAPITAL, INC.
COLUMBUS, OHIO--CROWN NORTHCORP (ASET-NASDAQ)--Crown NorthCorp, Inc.
and ULLICO, Inc., have signed a letter of intent for Crown to acquire AMI
Capital, Inc., a ULLICO subsidiary based in Bethesda, Maryland. AMI originates
and services multifamily mortgage loans, primarily for Fannie Mae's Delegated
Underwriting and Servicing program. Crown would acquire all of the stock of AMI
in exchange for cash, debt and Crown stock. A ULLICO representative would
become a member of Crown's Board of Directors. The transaction is subject to
final approval of a definitive agreement by the boards of Crown and ULLICO,
certain regulatory approvals and other matters.
In making the joint announcement, Ronald E. Roark, Chairman and Chief
Executive Officer of Crown, said "The acquisition of AMI will be an important
step in the implementation of Crown's business plan to establish Crown as a
vertically integrated specialty financial services firm. AMI's market presence
and reputation will significantly enhance Crown's mortgage origination
capability as well as the company's loan servicing and mortgage securitization
businesses." Michael R. Steed, Executive Vice President of ULLICO, noted "We
are excited about the opportunities this transaction presents. We look forward
to working with Crown to help it become a provider of comprehensive loan
origination and other services to the commercial real estate industry."
Crown operates through its Columbus, Ohio headquarters and five other offices
in the United States and Europe. In addition to its Bethesda headquarters, AMI
has an office in Florida.
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http://www.crownnorthcorp.com
