<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the Quarterly Period Ended SEPTEMBER 30, 1997
OR
[_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the Transition Period from __________ To _________
COMMISSION FILE NUMBER: 0-23146
REDFED BANCORP INC.
(Exact name of registrant as specified in its charter)
DELAWARE 33-0588105
(State or other jurisdiction of (I.R.S. employer identification no.)
incorporation or organization)
300 EAST STATE STREET, REDLANDS, CALIFORNIA 92373
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (909) 335-3551
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
filing requirements for the past 90 days.
[X] YES [_] NO
The Registrant had 7,413,908 shares of common stock outstanding at
September 30, 1997.
<PAGE>
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
-----------------
The Company is named as a defendant in a wrongful termination lawsuit
filed on August 14, 1996 in the San Bernardino County Superior Court by
a former senior officer who elected to take early retirement in August
of 1995. A settlement has been reached in that matter, and it is
expected to be dismissed prior to the end of the fourth quarter of
1997. The amount involved in the settlement is not material to the
operations of the Company.
The Company is also named as a defendant in a lawsuit filed on January
9, 1996 in the San Bernardino County Superior Court by a bonding
company, which alleges that the Company is bound to reimburse it for
certain sums paid by the bonding company to complete a construction
project formerly financed by the Company. The lawsuit seeks an
unspecified amount of damages. The Company has denied any liability and
has engaged outside counsel to defend it.
The Company is not involved in any other pending legal proceedings
other than routine legal proceedings occurring in the ordinary course
of business. All of such legal proceedings in the aggregate are
believed by management to be immaterial to the Company.
Items 2, 3, 4 and 5 are not applicable.
Item 6. Exhibits and Reports on Form 8-K
--------------------------------
(a) Exhibits - 11 - Computations of Earnings Per Share
Exhibits - 27.1 - Financial Data Schedule
(b) Reports on Form 8-K - No reports on Form 8-K were filed by the
registrant during the nine months ended September 30, 1997
20
<PAGE>
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 thereunto duly authorized.
Dated: November 13, 1997 REDFED BANCORP INC.
By: /s/ Anne Bacon
------------------------------
Anne Bacon
President and
Chief Executive Officer
By: /s/ David C. Gray, CPA
-------------------------------
David C. Gray, CPA
Treasurer and Chief
Financial Officer
21
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND THE CONSOLIDATED STATEMENT OF INCOME FILED AS
PART OF THE QUARTERLY REPORT ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH ANNUAL REPORT ON FORM 10-K
</LEGEND>
<CIK> 0000916605
<NAME> REDLANDS FEDERAL BANK
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> SEP-30-1997
<CASH> 26,476
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 0
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 17,677
<INVESTMENTS-CARRYING> 37,977
<INVESTMENTS-MARKET> 0<F1>
<LOANS> 842,989
<ALLOWANCE> 7,803
<TOTAL-ASSETS> 967,309
<DEPOSITS> 835,704
<SHORT-TERM> 0
<LIABILITIES-OTHER> 16,699
<LONG-TERM> 34,418
0
0
<COMMON> 74
<OTHER-SE> 80,414
<TOTAL-LIABILITIES-AND-EQUITY> 967,309
<INTEREST-LOAN> 44,241
<INTEREST-INVEST> 4,329
<INTEREST-OTHER> 0
<INTEREST-TOTAL> 48,570
<INTEREST-DEPOSIT> 26,099
<INTEREST-EXPENSE> 26,626
<INTEREST-INCOME-NET> 21,944
<LOAN-LOSSES> 800
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 18,720
<INCOME-PRETAX> 7,570
<INCOME-PRE-EXTRAORDINARY> 7,570
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 7,567
<EPS-PRIMARY> 1.03
<EPS-DILUTED> 1.03
<YIELD-ACTUAL> .075
<LOANS-NON> 7,619
<LOANS-PAST> 0
<LOANS-TROUBLED> 4,624
<LOANS-PROBLEM> 7,130
<ALLOWANCE-OPEN> 9,114
<CHARGE-OFFS> 1,668
<RECOVERIES> 74
<ALLOWANCE-CLOSE> 7,803
<ALLOWANCE-DOMESTIC> 7,803
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 0
<FN>
<F1>THIS INFORMATION IS NOT DISCLOSED IN THE FORM 10-Q
</FN>
</TABLE>
