<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
BYL Bancorp
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
056064108
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(CUSIP Number)
S. Alan Rosen, Esq.
Horgan, Rosen, Beckham & Coren, L.L.P.
21700 Oxnard Street, Suite 1400
Woodland Hills, California 91367
(818) 340-6100
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 7, 2000
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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(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See
Rule 13d-7 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 24
<PAGE> 2
CUSIP No. 056064108
1) Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only): Everest Partners Limited Partnership (dba Everest
Partners, L.P.)
--------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions): 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: Nevada
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Number of (7) Sole Voting Power 0
Shares -----------------------------------------------------------------
Beneficially (8) Shared Voting Power 88,000
Owned by -----------------------------------------------------------------
Each Reporting- (9) Sole Dispositive Power 0
Person -----------------------------------------------------------------
With (10) Shared Dispositive Power 88,000
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 88,000
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11): 3.47%
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14) Type of Reporting Person (See Instructions): PN
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Page 2 of 24
<PAGE> 3
CUSIP No. 056064108
1) Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only): Nick A. Becker
--------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions): PF
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6) Citizenship or Place of Organization: USA
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Number of (7) Sole Voting Power 0
Shares -----------------------------------------------------------------
Beneficially (8) Shared Voting Power 15,000
Owned by -----------------------------------------------------------------
Each Reporting- (9) Sole Dispositive Power 0
Person -----------------------------------------------------------------
With (10) Shared Dispositive Power 15,000
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person: 15,000
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11): .59%
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14) Type of Reporting Person (See Instructions): IN
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Page 3 of 24
<PAGE> 4
CUSIP No. 056064108
1) Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only): Everest Managers, LLC
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions): Not Applicable
--------------------------------------------------------------------------------
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: Nevada
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Number of (7) Sole Voting Power 0
Shares -----------------------------------------------------------------
Beneficially (8) Shared Voting Power 88,000
Owned by -----------------------------------------------------------------
Each Reporting- (9) Sole Dispositive Power 0
Person -----------------------------------------------------------------
With (10) Shared Dispositive Power 88,000
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person: 88,000
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11): 3.47%
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14) Type of Reporting Person (See Instructions): OO
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Page 4 of 24
<PAGE> 5
CUSIP No. 056064108
1) Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only): David M. W. Harvey
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------
4) Source of Funds (See Instructions): Not Applicable
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
Number of (7) Sole Voting Power 0
Shares ----------------------------------------------------------------
Beneficially (8) Shared Voting Power 88,000
Owned by ----------------------------------------------------------------
Each Reporting- (9) Sole Dispositive Power 0
Person ----------------------------------------------------------------
With (10) Shared Dispositive Power 88,000
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person: 88,000
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11): 3.47%
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14) Type of Reporting Person (See Instructions): IN
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Page 5 of 24
<PAGE> 6
CUSIP No. 056064108
1) Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only): JAM Partners, L.P.
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions): 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: Delaware
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Number of (7) Sole Voting Power 116,900
Shares ----------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by ----------------------------------------------------------------
Each Reporting- (9) Sole Dispositive Power 116,900
Person ----------------------------------------------------------------
With (10) Shared Dispositive Power
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 116,900
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11): 4.61%
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14) Type of Reporting Person (See Instructions): OO
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Page 6 of 24
<PAGE> 7
CUSIP No. 056064108
1) Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only): Seymour Jacobs
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------
4) Source of Funds (See Instructions): PF
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6) Citizenship or Place of Organization: USA
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Number of (7) Sole Voting Power 125,400
Shares ----------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by ----------------------------------------------------------------
Each Reporting- (9) Sole Dispositive Power 125,400
Person ----------------------------------------------------------------
With (10) Shared Dispositive Power
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 125,400
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11): 4.94%
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions): IN
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<PAGE> 8
Item 1: Security and Issuer.
The class of equity securities to which this Statement relates is the no
par value Common Stock (the "Shares") of BYL Bancorp, a California corporation
(the "Issuer"). The Issuer's Shares are traded on the Nasdaq National Market
System under the symbol "BOYL." The principal executive offices of the Issuer
are located at 1875 North Tustin Street, Orange, California 92865.
Item 2: Identity & Background.
(a) Names of Filing Persons:
This Schedule 13D is being jointly filed by each of the following
persons pursuant to Rule 13d-1(k)(1) promulgated by the Securities and Exchange
Commission pursuant to Section 13 of the Securities Exchange Act of 1934, as
amended (the "Act"): Everest Partners Limited Partnership (d.b.a. Everest
Partners, L.P.) (the "Everest Limited Partnership"), Everest Managers, L.L.C.
(the "Everest General Partner"), and David M. W. Harvey, the principal member of
the Everest General Partner (collectively, the "Everest Parties"), JAM Partners,
L.P. ("JAM") and Seymour Jacobs, the General Partner of JAM (collectively, the
"JAM Parties"), and Nick A. Becker ("Becker") (collectively the "Filing
Persons"). The Filing Persons have entered into a Joint Filing Agreement, dated
as of August 30, 2000, a copy of which is filed with this Schedule 13D as
Exhibit A, pursuant to which the Filing Persons have agreed to file this
Statement jointly in accordance with the provisions of Rule 13d-1(k)(1) under
the Act. The Filing Persons have agreed to act as a group for the purposes of,
among other things, amending their Schedule 13D dated August 30, 2000 to reflect
withdrawal of their request to nominate an alternative slate of directors at the
Issuer's Annual Meeting scheduled for September 30, 2000, in exchange for the
appointment of Mr. Seymour Jacobs to the Issuer's Board of Directors. (See
Exhibit B.)
(b) Residence or Business Address:
Everest Parties:
Post Office Box 3178
Gardnerville, NV 89410
JAM Parties:
One Fifth Avenue
New York, NY 10003
Becker:
15061 Springdale Street, Suite 100
Huntington Beach, CA 92649
(c) Present principal occupation or employment and the name, principal
business and address of any corporation or other organization in which such
employment is conducted:
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<PAGE> 9
The Everest Limited Partnership is a Nevada limited partnership formed
for the purpose of investing in, among other things, the equity securities of
various financial services providers. The Everest General Partner, a Nevada
limited liability company, is the general partner of the Everest Limited
Partnership. The Everest General Partner is charged with management of the
day-to-day affairs of the Everest Limited Partnership. The principal member of
the Everest General Partner is David M. W. Harvey. The Everest Limited
Partnership, the Everest General Partner, and Mr. Harvey all conduct their
business from Post Office Box 3178, Gardnerville, Nevada, 89410.
JAM Partners, L.P. is a Delaware limited partnership formed for the
purpose of investing in, among other things, the equity securities of various
financial services providers. Jacobs is the managing general partner responsible
for overseeing the day-to-day affairs of JAM. JAM conducts its activity from One
Fifth Avenue, New York, New York 10003.
Nick A. Becker, an individual, is an investor for his personal account.
He operates from his office located at 15061 Springdale Street, Suite 100,
Huntington Beach, California 92649.
(d) and (e)
During the last five years, none of the Filing Persons has been
convicted in a criminal proceeding(excluding traffic violations or similar
misdemeanors), nor have any such persons or entities been a party to any civil
proceeding of a judicial or administrative body of competent jurisdiction which
resulted in a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
or a finding of violation of any such laws.
(f) Citizenship:
The Everest Limited Partnership and the Everest General Partner are
organized under Nevada law; David M. W. Harvey is a citizen of the U.S.A.; JAM
in organized under Delaware law; and Jacobs and Becker and citizens of the
U.S.A.
Item 3: Source and Amount of Funds or Other Consideration
For the Everest Parties, the aggregate purchase price of the stock
covered by this Statement was $858,490.00. No borrowed funds were used to
purchase the stock. For the JAM Parties, the aggregate purchase price of the
stock covered by this Statement was $2,167,642. Certain shares were purchased in
a margin account. For Becker, the aggregate purchase price was $146,332.50. No
borrowed funds were used to purchase the stock.
Item 4: Purpose of Transaction
The stock that is the subject of this Schedule 13D was acquired by the
Filing Persons for the purpose of investment. Depending upon investment
strategies, the need for or availability of funds, the price of the stock, and
other considerations, each of the Filing Persons may acquire additional shares
of stock or dispose of some or all of the stock from time to time.
The Filing Persons believe the Board of Directors should immediately
pursue measures
Page 9 of 24
<PAGE> 10
which will maximize shareholder value and liquidity through the prompt sale of
the Issuer to PBOC Holdings or another purchaser.
The Issuer has agreed to commence action necessary, including all
necessary regulatory consents, to appoint Mr. Seymour Jacobs (the "Designee"),
to the Issuer's Board of Directors as a Class II director, and to the Board of
Directors of the Issuer's subsidiary, BYL Bank Group (the "Bank"). The Designee
will not be able to assume office until all required regulatory consents have
been obtained. Accordingly, from and after September 7, 2000 until such time as
all such regulatory consents have been processed, Mr. Jacobs shall have the
right to attend as an observer all meetings of the Board of Directors of each of
the Company and the Bank, and shall receive all materials distributed to the
members of such boards during that time. Within 48 hours of receipt of all
necessary regulatory consents, the Boards of Directors of the Issuer and the
Bank shall take action necessary to increase the size of the Board of Directors
of each of the Issuer and the Bank by one member and fill the vacancies created
with the Designee. Prior to expiration of the Designee's initial term of office
with the Issuer and the Bank, the Issuer will cause the Designee to be nominated
for reelection to such positions.
At present, and except as disclosed herein, the Filing Persons have no
specific plans or proposals that relate to, or could result in, any of the
matters referred to in paragraphs (a) through (j), inclusive, of Item 4 of
Schedule 13D.
Item 5: Interest in Securities of the Issuer
(a) Based on Schedule 14A filed by the Issuer, as of August 11, 2000 the
Issuer had 2,538,435 Shares issued and outstanding. The following chart reflects
the ownership of the Shares by the Filing Persons:
<TABLE>
<CAPTION>
Name Numbers of Shares Percentage
---- ----------------- ----------
<S> <C> <C>
Everest Parties 88,000 3.47%
JAM Parties 125,400 4.94%
Becker 15,000 .59%
------- ----
228,400 9.00%
</TABLE>
(b) With respect to the Everest Parties, the Everest General Partner has
the power to vote or direct the voting of and the power to dispose or to direct
the disposition of 88,000 shares of stock. Because Mr. Harvey is the controlling
person of the Everest General Partner, he may be deemed to have the indirect
power to vote or direct the vote and to dispose or direct the disposition of the
stock that is the subject of this Schedule 13D. The Everest General Partner
disclaims beneficial ownership of the stock held by the Everest Limited
Partnership. Each of Mr. Harvey and the Everest General Partner disclaims
beneficial ownership of shares of stock of the Issuer held by the other Filing
Persons.
With respect to the JAM Parties, JAM has the power to vote and to
dispose of 116,900 shares. Because Jacobs is the controlling person of JAM, he
may be deemed to have the indirect
Page 10 of 24
<PAGE> 11
power to vote and to dispose or direct the disposition of the shares held by
JAM. He also has the power to vote and dispose of 8,500 shares. Mr. Jacobs
disclaims beneficial ownership of the stock held by JAM. Each of JAM and
Jacobs disclaims beneficial ownership of shares of stock of the Issuer held by
the other Filing Persons.
Becker has shared power to vote and to dispose of 15,000 shares and
disclaims beneficial ownership of shares of stock of the Issuer held by the
other Filing Persons.
(c) Purchases in the last 60 days. See Exhibit C attached. The
transactions identified in Exhibit C were effected through one or more brokers
in the over-the-counter market.
(d) No person other than the Filing Persons has the right to receive or
the power to direct the receipt of dividends from or the proceeds from the sale
of the stock that is the subject of this Schedule 13D.
(e) Not applicable.
Item 6: Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer
Except as set forth in Exhibit B herein, none of the Filing Persons has
any contract, arrangement, understanding, or relationship (legal or otherwise)
between or among themselves and any person with respect to securities of the
Issuer, including but not limited to transfer or voting of any of the shares of
stock that are the subject of this Schedule 13D, finder's fees, joint ventures,
loan or option arrangements, puts or calls, guarantees of profits, division of
profits or losses, or the giving or withholding of proxies. The shares of stock
that are the subject of this Schedule 13D were not acquired on margin, except
for certain shares acquired by the JAM Parties.
Item 7: Material to be Filed as Exhibits
Exhibit A - Joint Filing Agreement
Exhibit B - Agreement dated September 7, 2000 by and among the Issuer;
BYL Bank Group and the Filing Persons
Exhibit C - Schedule of Purchases
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<PAGE> 12
SIGNATURE
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.
EVEREST PARTNERS LIMITED PARTNERSHIP
(d.b.a. EVEREST PARTNERS, L.P.)
By its General Partner
<TABLE>
<S> <C>
EVEREST MANAGERS, L.L.C.
Dated: September 14, 2000 By: /s/ David M. W. Harvey
----------------------------
Name: David M. W. Harvey
Title: Managing Member
EVEREST MANAGERS, L.L.C.
Dated: September 14, 2000 By: /s/ David M. W. Harvey
----------------------------
Name: David M. W. Harvey
Title: Managing Member
Dated: September 14, 2000 By: /s/ David M. W. Harvey
----------------------------
Name: David M. W. Harvey
JAM PARTNERS, L.P.
Dated: September 14, 2000 By: /s/ Seymour Jacobs, General Partner
-----------------------------------------
Name: Seymour Jacobs, General Partner
Dated: September 14, 2000 By: /s/ Seymour Jacobs
------------------------
Name: Seymour Jacobs
Dated: September 14, 2000 By: /s/ Nick A. Becker
------------------------
Name: Nick A. Becker
</TABLE>
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