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UNITED STATES
SECURlTIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 16)*
IBS FINANCIAL CORP.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
44922Q105
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(CUSIP Number)
Lawrence B. Seidman, 100 Misty Lane, Parsippany, NJ 07054 (201) 560-1400
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
February 17, 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-l(f) or (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. should be filed with the
Commission. See Rule 13d-7(b) 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).
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The statement on Schedule 13D which was filed on September 8, 1995,
Amendment #1 which was filed on November 6, 1995, Amendment #2 which was filed
on November 16, 1995, Amendment #3 which was filed on December 7, 1995,
Amendment #4 which was filed on February 5, 1996, Amendment #5 which was filed
on March 18, 1996, Amendment #6 which was filed on June 13, 1996, Amendment #7
which was filed on October 11, 1996, Amendment #8 which was filed on November
19, 1996, Amendment #9 which was filed on December 16, 1996, Amendment #10 which
was filed on January 28, 1997 and Amendment #11 which was filed on June 26,
1997, Amendment #12 which was filed on July 2, 1997, Amendment #13 which was
filed on July 29, 1997, Amendment #14 which was filed on August 19, 1997 and
Amendment #15 which was filed on September 3, 1997 on behalf of Seidman,
Associates, L.L.C. ("SAL"), Seidman and Associates II, L.L.C. ("SAL II"),
Federal Holdings, L.L.C., ("Federal"), Seidman Investment Partnership ("SIP"),
L.P., Lawrence B. Seidman, Individually ("Seidman"), The Benchmark Company, Inc.
("TBCI"), Benchmark Partners LP ("Partners"), Richard Whitman, Individually
("Whitman"), Lorraine DiPaolo ("DiPaolo"), Individually, Ernest Beier, Jr.,
Individually ("Beier") and Dennis Pollack, Individually ("Pollack")
(collectively, the "Reporting Persons") with respect to the Reporting Persons'
beneficial ownership of shares of Common Stock, $.01 par value (the "Shares"),
of IBS Financial Corp., a New Jersey Corporation (the "Issuer"), is hereby
amended as set forth below. Such Statement on Schedule 13D is hereinafter
referred to as the "Schedule 13D". Terms used herein which are defined in the
Schedule 13D shall have their respective meanings set forth in the Schedule 13D.
2. Identity and Background
Item 2 is amended as follows:
(a) Brant Cali
(b) 11 Commerce Drive, Cranford, New Jersey 07016
(c) Executive Vice President, Mack-Cali Real Estate Corporation
(Public REIT)
(d) *See below.
(e) *See below.
(f) U.S.A.
(a) Jonna Cali
(b) 11 Commerce Drive, Cranford, New Jersey 07016
(c) Unemployed
(d) *See below.
(e) *See below.
(f) U.S.A.
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(a) Rose Cali
(b) 11 Commerce Drive, Cranford, New Jersey 07016
(c) Unemployed
(d) *See below.
(e) *See below.
(f) U.S.A.
(a) Christopher Cali
(b) 11 Commerce Drive, Cranford, New Jersey 07016
(c) Part-Time Musician
(d) *See below.
(e) *See below.
(f) U.S.A.
(a) John R. Cali
(b) 11 Commerce Drive, Cranford, New Jersey 07016
(c) Executive Vice President, Mack-Cali Real Estate Corporation
(Public REIT)
(d) *See below.
(e) *See below.
(f) U.S.A.
(a) Angela Cali Kloby
(b) 11 Commerce Drive, Cranford, New Jersey 07016
(c) Unemployed
(d) *See below.
(e) *See below.
(f) U.S.A.
(a) Jonna Cali
(b) 11 Commerce Drive, Cranford, New Jersey 07016
(c) Unemployed
(d) *See below.
(e) *See below.
(f) U.S.A.
Seidcal & Associates, LLC ("Seidcal") is a Member of SAL and SAL II. All of
the above individuals are the Members of Seidcal.
(a) Kevin Moore
(b) One Rockefeller Plaza, 31st Floor, New York, NY 10020
(c) Senior Vice President, Clark Estates, Inc.
(d) *See below.
(e) *See below.
(f) U.S.A.
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*During the last five years none of the above-named individuals (i) has
been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to, a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
3. Source or Amount of Funds of Other Consideration
SAL owns 184,950 shares of the Issuer and SAL II owns 57,803 shares. None of the
Seidcal Members own any shares personally, but may be deemed to have a
beneficial interest in the shares of the Issuer owned by SAL and SAL II because
they are members of Seidcal. The purchase of Common Stock by SAL and SAL II were
in margin accounts carried by Bear Stearns Securities Corp. In addition to the
Common Stock of the Issuer, SAL and SAL II owns other securities in these
accounts. This extension of credit was extended in the ordinary course of
business. As of February 17, 1998, SAL has a margin balance of $95,022.43 and
SAL II has no margin balance.
Federal Holdings, LLC owns 94,846 shares of the Issuer. Kevin Moore does not own
any shares personally, but may be deemed to have a beneficial interest in the
shares of the Issuer owned by Federal Holdings, LLC ("Federal")
4. Purpose of Transaction
Amendment No. 16 is being filed principally to describe information concerning
Seidcal and Federal.
5. Interest in Securities of the Issuer
The schedule below describes transactions in the Common Stock effected by the
Reporting Persons from December 16, 1997 to February 17, 1998. Except as set
forth in this Item 5, none of the Reporting Persons owns beneficially or has a
right to acquire beneficial ownership of any Common Stock, and except as set
forth in this Item 5, none of the Reporting Persons has effected transactions in
the Common Stock during the past sixty (60) days.
The Reporting Persons own in total 793,614 shares of the Issuer.
Trade No of Total
Dat Shares Price Cost/(Proceeds) Entity
12/16/97 (132) 17.25 (2,277.00) TBCI
12/22/97 (100) 18.188 (1,818.75) TBCI
12/22/97 (2,500) 18.188 (45,468.75) SEID
12/22/97 (2,500) 18.188 (45,468.75) SEIDII
12/31/97 (6,500) 17.625 (114,562.50) TBCI
12/31/97 (4,500) 17.625 (79,312.50) TCBI
1/2/98 (1,150) 17.50 (20,125.00) TCBI
1/2/98 (2,000) 17.63 (35,250.00) SEID
1/6/98 (632) 17.25 (10,902.00) TCBI
1/23/98 3,600 16.05 57,782.00 SIP
1/23/98 (885) 15.83 (14,012.00) TCBI
2/13/98 (72) 16.50 (1,188.00) TCBI
(d) N/A
(e) N/A
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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.
February 20, 1998 ss/Richard Whitman
Richard Whitman, President
The Benchmark Company, Inc.
February 20, 1998 ss/Brant Cali
Brant Cali, Member
Seidcal & Associates, LLC
February 20, 1998 ss/Kevin Moore
Kevin Moore, Administrative
Manager
Federal Holdings, Inc.
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JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree to the joint filing with each other of
the attached statement on Schedule 13D and to all amendments to such statement
and that such Statement and all amendments to such statement is made on behalf
of each of them.
In addition the undersigned hereby appoints Richard Whitman as
attorney-in-fact for the undersigned with authority to execute and deliver on
behalf of the undersigned any and all documents (including any amendments
thereto) required to be filed by the undersigned or otherwise executed and
delivered by the undersigned pursuant to the Securities Exchange Act of 1934, as
amended, all other federal, state and local securities and corporation laws, and
all regulations promulgated thereunder.
IN WITNESS WHEREOF, the undersigned hereby execute this agreement on
February 20, 1998.
February 20, 1998 ss/Richard Whitman
Date Richard Whitman, President
The Benchmark Company, Inc.
February 20, 1998 ss/Brant Cali
Date Brant Cali, Member
Seidcal & Associates, LLC
February 20, 1998 ss/Kevin Moore
Date Kevin Moore, Administrative
Manager
Federal Holdings, Inc.
