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UNITED STATES
SECURlTIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Information to be Included in Statements Filed
Pursuant to Rule 13d-1 (a) and Amendments thereto
Filed Pursuant to Rule 13d-2(a)
(Amendment No. 17)*
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)
April 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(e) 13d-1(f) or 13d-1(g), check the following box
/ /
Note: Sschedules 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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CUSIP NO. 44922Q105
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
1 Seidman and Associates, L.L.C. 22-3343079
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC BK
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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 Jersey
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7 SOLE VOTING POWER
NUMBER OF 129,800
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SHARES
BENFICIALLY 8 SHARED VOTING POWER
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OWNED BY
9 SOLE DISPOSITIVE POWER
129,800
PERSON -----------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 129,800
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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) 1.18%
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14 TYPE OF REPORTING PERSON* OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 44922Q105
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
1 The Benchmark Company, Inc. 11-2950925
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
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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 SOLE VOTING POWER
NUMBER OF 91,854
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SHARES
BENFICIALLY 8 SHARED VOTING POWER
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OWNED BY
9 SOLE DISPOSITIVE POWER
91,854
PERSON -----------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 91,854
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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) .834%
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14 TYPE OF REPORTING PERSON* BD
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 44922Q105
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
1 Benchmark Partners, LP 11-2955345
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(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 SOLE VOTING POWER
NUMBER OF 39,492
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SHARES
BENFICIALLY 8 SHARED VOTING POWER
-------------------------------------------------------------
OWNED BY
9 SOLE DISPOSITIVE POWER
39,492
PERSON ----------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
--------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 39,492
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) .358%
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14 TYPE OF REPORTING PERSON* PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 44922Q105
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
1 Richard Whitman, Individually. ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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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
U.S.A.
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7 SOLE VOTING POWER
NUMBER OF 1,500
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SHARES
BENFICIALLY 8 SHARED VOTING POWER
131,346
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OWNED BY
9 SOLE DISPOSITIVE POWER
1,500
PERSON -----------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
131,346
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 132,846
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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) 1.206%
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14 TYPE OF REPORTING PERSON* IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 44922Q105
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
1 Lorraine Di Paolo ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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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
U.S.A.
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7 SOLE VOTING POWER
NUMBER OF 20,290
--------------------------------------------------------------
SHARES
BENFICIALLY 8 SHARED VOTING POWER
131,346
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OWNED BY
9 SOLE DISPOSITIVE POWER
20,290
PERSON -----------------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
131,346
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 151,636
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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) 1.377
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14 TYPE OF REPORTING PERSON* IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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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,
Amendment #15 which was filed on September 3, 1997, Amendment #16 which was
filed on February 24, 1998 and Amendment #17 which was filed on March 31, 1998
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.
4. Purpose of Transaction
The Reporting Persons have determined to sell the Shares in an orderly manner
from time-to-time in ordinary brokerage transactions as market conditions
permit, or in private transactions for such prices and upon such terms and
conditions as the Reporting Persons deem appropriate.
5. Interest in Securities of the Issuer
The schedule below describes transactions in the Common Stock effected by the
Reporting Persons from April 1, 1998 to April 17, 1998. The Reporting Persons
presently own less than 5% of the Issuer's outstanding shares. 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.
Total No. of
Trade Date Cost/(Proceeds) Shares Sold Price Entity
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41698 (4,504.80) (230) 19.586 TCBI
41698 (6,757.20) (345) 19.586 TCBI
41698 (4,504.80) (230) 19.586 TCBI
41698 (12,378.00) (632) 19.586 TCBI
41698 (45,048.03) (2,300) 19.586 TCBI
41698 (22,524.02) (1,150) 19.586 TCBI
41698 (6,757.20) (345) 19.586 TCBI
41698 (4,504.80) (230) 19.586 TCBI
41698 (6,757.20) (345) 19.586 TCBI
41698 (4,504.80) (230) 19.586 TCBI
41698 (12,378.00) (632) 19.586 TCBI
41698 (18,019.21) (920) 19.586 TCBI
41698 (24,776.42) (1,265) 19.586 TCBI
41698 (11,262.01) (575) 19.586 TCBI
41698 (69,041.00) (3,525) 19.586 TCBI
41698 (6,757.20) (345) 19.586 TCBI
41698 (15,766.81) (805) 19.586 TCBI
41698 (9,009.61) (460) 19.586 TCBI
41698 (12,358.83) (631) 19.586 DIPAOLO
41698 (9,910.57) (506) 19.586 TCBI
41698 (11,262.01) (575) 19.586 TCBI
41698 (14,983.37) (765) 19.586 TCBI
41698 (19,586.10) (1,000) 19.586 TCBI
41698 (19,586.10) (765) 19.586 TCBI
41698 (54,547.29) (2,785) 19.586 TCBI
41698 (11,262.01) (575) 19.586 TCBI
41698 (15,766.81) (805) 19.586 TCBI
41698 (5,875.83) (300) 19.586 TCBI
41698 (12,378.42) (632) 19.586 TCBI
41698 (14,983.37) (765) 19.586 TCBI
41698 (17,333.70) (885) 19.586 TCBI
41698 (12,730.97) (650) 19.586 TCBI
41698 (24,776.42) (1,265) 19.586 TCBI
41698 (6,757.20) (345) 19.586 TCBI
41698 (12,378.42) (632) 19.586 TCBI
41698 (12,378.42) (632) 19.586 TCBI
41698 (9,009.61) (460) 19.586 TCBI
41698 (11,262.01) (575) 19.586 TCBI
41698 (11,262.01) (575) 19.586 TCBI
41698 (17,333.70) (885) 19.586 TCBI
41698 (12,378.42) (632) 19.586 TCBI
41698 (21,388.02) (1,092) 19.586 TCBI
41698 (6,502.59) (332) 19.586 TCBI
41698 (6,502.59) (332) 19.586 TCBI
41698 (7,834.44) (400) 19.586 TCBI
41698 (5,621.21) (287) 19.586 TCBI
41698 (22,524.02) (1,150) 19.586 TCBI
41698 (9,793.05) (500) 19.586 TCBI
41698 (7,423.13) (379) 19.586 TCBI
41698 (12,828.90) (655) 19.586 TCBI
41698 (72,958.22) (3,725) 19.586 TCBI
41698 (5,915.00) (302) 19.586 TCBI
41698 (6,757.20) (345) 19.586 TCBI
41698 (22,524.02) (1,150) 19.586 DIPAOLO
41698 (9,793.05) (500) 19.586 WHITMAN
41698 (32,258.31) (1,647) 19.586 TCBI
41698 (588,137.00) (30,000) 19.750 PARTNERS
41698 (38,158.20) (1,972) 19.350 TCBI
41698 (12,229.20) (632) 19.350 TCBI
41698 (6,424.20) (332) 19.350 TCBI
41698 (12,577.50) (650) 19.350 TCBI
41698 (6,946.65 (359) 19.350 TCBI
41698 (14,802.75) (765) 19.350 TCBI
41798 (27,031.95) (1,397) 19.350 TCBI
41798 (387,000.00) (20,000) 19.350 SEID
41798 (11,571.30) (598) 19.350 DIPAOLO
41798 (27,031.95) (1,397) 19.350 TCBI
41798 (131,709.80) (6,808) 19.350 DIPAOLO
41798 (581,230.62) (30,000) 19.350 PARTNERS
(d) N/A
(e) 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.
April 17, 1998
Date Richard Whitman, President
The Benchmark Company, Inc.
April 17, 1998
Date Dennis Pollack, Individual
