SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities and Exchange Act of 1934
March 6, 1997
Date of Report (Date of earliest event reported)
First Merchants Acceptance Corporation
(Exact name of registrant a specified in its charter)
Delaware 0-24686 36-3759045
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
570 Lake Cook Road
(Address of principal executive offices) (Zip Code)
847-948-9300
(Registrant's telephone number)
Item 5. Other Events.
On March 6, 1997 First Merchants Acceptance Corporation, (the "Company") issued
a press release announcing the appointment of the Company's Senior Vice
President and Chief Financial Officer; and Vice President and Chief Information
Officer. A copy of the release is attached hereto as Exhibit 99.1
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit 99.1: Press Release issued by First Merchants Acceptance
Corporation on March 6, 1997.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First Merchants Acceptance Corporation
By: s/Mitchell C Kahn
Mitchell C Kahn
President and Chief Executive Officer
Dated: March 6, 1997
<PAGE>
EXHIBIT INDEX
Sequentially-
Exhibit Numbered
No. Description Page
99.1 Press Release issued by First Merchants
Acceptance Corporation March 6, 1997...........................
Contacts: Norman Smagley
Senior Vice President & Chief Financial Officer
Tina E. Nally-Assistant
(847) 267-8777
Larry Parnell
Amen & Associates
(212) 448-4257
FOR IMMEDIATE RELEASE
First Merchants Names Chief Financial Officer and Chief Information Officer
March 6, 1997 Deerfield, IL -- Mitchell Kahn, President and Chief Executive
Officer of First Merchants Acceptance Corporation (NASDAQ:FMAC), a national
specialty finance company,today announced two senior management appointments.
Thomas R. Ehmann has been appointed Vice President and Chief Information Officer
, responsible for the company's management information system and conversion to
new automated credit scoring and management systems. Norman Smagley has been
elected Senior Vice President and Chief Financial Officer, responsible for all
financial functions, investor relations, MIS and the legal department.
"These appointments significantly enhance our management team at First Merchants
. Tom Ehmann has served the company well as Chief Financial Officer for two
years, and his financial expertise and experience fits well with our aggressive
technology strategy. Norm Smagley brings a fresh perspective and extensive
financial management experience which will be very valuable as we strengthen our
infrastructure for the future," said Mr. Kahn.
Prior to joining FMAC, Mr. Smagley served as Vice President, Finance and Chief
Financial Officer of Trans Leasing International, a publicly traded lessor of
medical and office technology equipment. Prior to Trans Leasing, Mr. Smagley
served as Vice President, Treasurer and Corporate Development at Genderm
Corporation, a venture capital-backed pharmaceutical company. He also served as
Vice President, Acquisition Finance and Vice President, Liability Management at
Heller Financial. He began his career at Amoco as a financial analyst. Mr.
Smagley received both graduate and undergraduate degrees from the University of
Pennsylvania's Wharton School of Business.
Mr. Ehmann joined First Merchants in 1992, and was named Chief Financial Officer
in June of 1995. Prior to joining the company, Mr. Ehmann served as Vice
President, Finance and Controller for the LINC Group, Inc. and its subsidiary
LINC Scientific Leasing. A Certified Public Accountant, Mr. Ehmann began his
career with KPMG Peat Marwick in Chicago.
First Merchants Acceptance Corporation is a national specialty finance company,
primarily engaged in financing the purchase of used automobiles by consumers who
have limited access to traditional sources of credit. The Company acquires
dealer-originated retail installment contracts from franchised and independent
automobile dealers and financial institutions in 37 states. First Merchants
expects to begin offering home equity and other forms of credit to its target
markets in 1997.
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