UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Cascade Financial Corporation
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
14727210-8
(CUSIP Number)
Arthur W. Skotdal
c/o Douglas A. Schafer, Attorney
P.O. Box 1134, Tacoma, WA 98401
(206) 383-2167
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 27, 1997
(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(b)(3) or (4), check the following
box [ ].
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class). (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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 of 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>
Page 2 of 7
CUSIP No. 14727210-8
1. Name of Reporting Person Arthur W. Skotdal
S.S. or I.R.S. Identification ###-##-####
No. of Above Person
2. Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [X]
3. SEC Use Only
4. Source of Funds PF
5. Check Box if Disclosure of Legal [ ]
Proceedings is Required
Pursuant to Items 2(d) or 2(e)
6. Citizenship or Place of United States
Organization
Number of 7. Sole Voting Power 22,000
Shares 8. Shared Voting
Beneficially Power 102,240
Owned by 9. Sole Dispositive
Each Report- Power 22,000
ing Person 10. Shared Dispositive
With Power 102,240
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 124,240
12. Check Box if the Aggregate Amount [ ]
in Row (11) Excludes Certain Shares
13. Percent of Class Represented 6.1%
by amount in Row (11)
14. Type of Reporting Person IN
<PAGE>
Page 3 of 7
CUSIP No. 14727210-8
1. Name of Reporting Person Andrew P. Skotdal
S.S. or I.R.S. Identification ###-##-####
No. of Above Person
2. Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [X]
3. SEC Use Only
4. Source of Funds PF
5. Check Box if Disclosure of Legal [ ]
Proceedings is Required
Pursuant to Items 2(d) or 2(e)
6. Citizenship or Place of United States
Organization
Number of 7. Sole Voting Power -0-
Shares 8. Shared Voting
Beneficially Power 51,120
Owned by 9. Sole Dispositive
Each Report- Power -0-
ing Person 10. Shared Dispositive
With Power 51,120
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 51,120
12. Check Box if the Aggregate Amount [ ]
in Row (11) Excludes Certain Shares
13. Percent of Class Represented 2.5%
by amount in Row (11)
14. Type of Reporting Person IN
<PAGE>
Page 4 of 7
CUSIP No. 14727210-8
1. Name of Reporting Person Craig G. Skotdal
S.S. or I.R.S. Identification ###-##-####
No. of Above Person
2. Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [X]
3. SEC Use Only
4. Source of Funds PF
5. Check Box if Disclosure of Legal [ ]
Proceedings is Required
Pursuant to Items 2(d) or 2(e)
6. Citizenship or Place of United States
Organization
Number of 7. Sole Voting Power -0-
Shares 8. Shared Voting
Beneficially Power 51,120
Owned by 9. Sole Dispositive
Each Report- Power -0-
ing Person 10. Shared Dispositive
With Power 51,120
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 51,120
12. Check Box if the Aggregate Amount [ ]
in Row (11) Excludes Certain Shares
13. Percent of Class Represented 2.5%
by amount in Row (11)
14. Type of Reporting Person IN
<PAGE>
Page 5 of 7
ITEM 1 - SECURITY AND ISSUER.
Common stock, $0.01 par value
Cascade Financial Corporation
2828 Colby Ave.
Everett, Washington 98201
ITEM 2 - IDENTITY AND BACKGROUND
This is an electronic format Amendment No. 1 to a paper format Schedule
13D, restated in electronic format as Exhibit B hereto, dated May 13, 1994,
filed by and on behalf of the three reporting individuals, who may comprise a
group pursuant to Section 13(d)(3) of the Securities Exchange Act of 1934
though they disclaim that they are such a group or beneficially own each
other's shares. Their earlier Schedule 13D filing reported aggregate
beneficial ownership of 5.0% of the issuer, and this amendment reports 6.1%
(based upon 2,052,929 shares reported as outstanding in the issuer's last Form
10Q).
(a) Name of Group Member: Arthur W. Skotdal
(b) Address: 2910 Colby Ave., Suite 200, Everett, WA 98201
(c) Principal occupation and employer: Private investor in real estate and
president of Skotdal Enterprises, Inc., a real estate development and
management firm at 2910 Colby Ave., Suite 200, Everett, WA 98201.
(c) Criminal convictions within five years: None
(d) Securities law violations within five years: None
(e) Citizenship: U.S.A.
(a) Name of Group Member: Andrew P. Skotdal
(b) Address: 3210 Mission Beach Dr., Marysville, WA 98270
(c) Principal occupation and employer: Manager at KRKO Radio, a radio
station at 7115 Larmier Rd., Everett, WA 98208
(c) Criminal convictions within five years: None
(d) Securities law violations within five years: None
(e) Citizenship: U.S.A.
(a) Name of Group Member: Craig G. Skotdal
(b) Address: 2910 Colby Ave., Suite 300, Everett, WA 98201
(c) Principal occupation and employer: Manager at Skotdal Enterprises, Inc.,
a real estate development and management firm at 2910 Colby Ave., Suite
200, Everett, WA 98201.
(c) Criminal convictions within five years: None
(d) Securities law violations within five years: None
(e) Citizenship: U.S.A.
ITEM 3 - SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Personal funds of $33,000 were used by Arthur W. Skotdal to purchase in
the public market the 2,000 shares reported in Item 5. All individually
immaterial purchases not previously reported by the reporting persons were
also made in the public market with personal funds.
ITEM 4 - PURPOSE OF TRANSACTION
The shares were acquired solely for investment purposes. Members of the
group may acquire additional shares for investment. Members of the group have
no plans or proposals for any changes in management or directors, or
extraordinary corporate changes or transactions, concerning the issuer.
<PAGE>
Page 6 of 7
ITEM 5 - INTEREST IN THE SECURITIES OF THE ISSUER
For the group:
(a) Number of securities owned beneficially: 124,240
(Without duplicating shares deemed owned by two or more
group members.)
Percentage of class: 6.1%
Arthur W. Skotdal:
(a) Number of securities owned beneficially: 124,240
Percentage of class: 6.1%
(b) Sole voting power: 22,000
Shared voting power: 102,240
Sole dispositive power: 22,000
Shared dispositive power: 102,240
(c) Transactions in issuer's securities during past 60 days:
02/27/97 Purchased 2,000 shares at $16.50 per share through a broker.
Andrew P. Skotdal:
(a) Number of securities owned beneficially: 51,120
Percentage of class: 2.5%
(b) Sole voting power: -0-
Shared voting power: 51,120
Sole dispositive power: -0-
Shared dispositive power: 51,120
(c) Transactions in issuer's securities during past 60 days:
None.
Craig G. Skotdal:
(a) Number of securities owned beneficially: 51,120
Percentage of class: 2.5
(b) Sole voting power: -0-
Shared voting power: 51,120
Sole dispositive power: -0-
Shared dispositive power: 51,120
(c) Transactions in issuer's securities during past 60 days:
None.
For the Group:
(d) No other persons are known to have the right to receive dividends from,
or the proceeds from the sale of, any of the securities referred to in this
item.
(e) Date reporting person ceased to be 5% owner: Not applicable.
<PAGE>
Page 7 of 7
ITEM 6 - CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
There are no written agreements between the members of the group. Both
Andrew P. Skotdal and Craig G. Skotdal are of legal age, and neither resides
with their father, Arthur W. Skotdal. Because of the family relationship and
the investment advice and assistance offered by the father to his sons, the
three persons may be deemed a group under Section 13(d)(3) of the Act.
ITEM 7 - MATERIAL TO BE FILED AS EXHIBITS
Exhibit A is an agreement of the reporting persons that this statement is
filed on behalf of each of them, as required by SEC Rule 13d-1(f)(1).
Exhibit B is an electronic format restatement of the original written
format Schedule 13D, dated May 13, 1994, filed by and on behalf of the three
reporting individuals.
SIGNATURES
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.
March 14, 1997 Arthur W. Skotdal
(Date) (Signature)
March 14, 1997 Andrew P. Skotdal
(Date) (Signature)
March 14, 1997 Craig G. Skotdal
(Date) (Signature)
EXHIBIT A
AGREEMENT TO FILE JOINT SCHEDULE 13D/A
We agree, in accordance with SEC Rule 13d-1(f)(1)(iii), that the
Amendment No. 1 to Schedule 13D, to which this agreement is attached as an
exhibit, is filed on behalf of each of us.
March 14, 1997 Arthur W. Skotdal
(Date) (Signature)
March 14, 1997 Andrew P. Skotdal
(Date) (Signature)
March 14, 1997 Craig G. Skotdal
(Date) (Signature)
EXHIBIT B
Electronic format copy of paper Schedule 13D as filed at the Office of Thrift
Supervision on May 21, 1994.
<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Cascade Savings Bank, FSB
(Name of Issuer)
Common Stock, $1.00 Par Value
(Title of Class of Securities)
147352-10-8
(CUSIP Number)
Douglas A. Schafer
P.O. Box 1134, Tacoma, WA 98401
(206) 383-2167
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 13, 1994
(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(b)(3) or (4), check the following
box [ ].
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class). (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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 of 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>
Page 2 of 7
CUSIP No. 147352-10-8
1. Name of Reporting Person Arthur W. Skotdal
S.S. or I.R.S. Identification ###-##-####
No. of Above Person
2. Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [X]
3. SEC Use Only
4. Source of Funds PF
5. Check Box if Disclosure of Legal [ ]
Proceedings is Required
Pursuant to Items 2(d) or 2(e)
6. Citizenship or Place of United States
Organization
Number of 7. Sole Voting Power -0-
Shares 8. Shared Voting
Beneficially Power 51,839
Owned by 9. Sole Dispositive
Each Report- Power -0-
ing Person 10. Shared Dispositive
With Power 51,839
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 51,839
12. Check Box if the Aggregate Amount [ ]
in Row (11) Excludes Certain Shares
13. Percent of Class Represented 5.0%
by amount in Row (11)
14. Type of Reporting Person IN
<PAGE>
Page 3 of 7
CUSIP No. 147352-10-8
1. Name of Reporting Person Andrew P. Skotdal
S.S. or I.R.S. Identification ###-##-####
No. of Above Person
2. Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [X]
3. SEC Use Only
4. Source of Funds PF
5. Check Box if Disclosure of Legal [ ]
Proceedings is Required
Pursuant to Items 2(d) or 2(e)
6. Citizenship or Place of United States
Organization
Number of 7. Sole Voting Power -0-
Shares 8. Shared Voting
Beneficially Power 25,920
Owned by 9. Sole Dispositive
Each Report- Power -0-
ing Person 10. Shared Dispositive
With Power 25,920
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 25,920
12. Check Box if the Aggregate Amount [ ]
in Row (11) Excludes Certain Shares
13. Percent of Class Represented 2.5%
by amount in Row (11)
14. Type of Reporting Person IN
<PAGE>
Page 4 of 7
CUSIP No. 147352-10-8
1. Name of Reporting Person Craig G. Skotdal
S.S. or I.R.S. Identification ###-##-####
No. of Above Person
2. Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [X]
3. SEC Use Only
4. Source of Funds PF
5. Check Box if Disclosure of Legal [ ]
Proceedings is Required
Pursuant to Items 2(d) or 2(e)
6. Citizenship or Place of United States
Organization
Number of 7. Sole Voting Power -0-
Shares 8. Shared Voting
Beneficially Power 25,920
Owned by 9. Sole Dispositive
Each Report- Power -0-
ing Person 10. Shared Dispositive
With Power 25,920
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 25,920
12. Check Box if the Aggregate Amount [ ]
in Row (11) Excludes Certain Shares
13. Percent of Class Represented 2.5%
by amount in Row (11)
14. Type of Reporting Person IN
<PAGE>
Page 5 of 7
ITEM 1 - SECURITY AND ISSUER.
Common stock, $1.00 par value
Cascade Savings Bank, F.S.B.
2828 Colby Ave.
Everett, Washington 98201
ITEM 2 - IDENTITY AND BACKGROUND
This is an acquisition statement by and on behalf of three individuals
who may comprise a group pursuant to Section 13(d)(3) of the Securities
Exchange Act of 1934, though they disclaim that they are such a group or
beneficially own each other's shares.
(a) Name of Group Member: Arthur W. Skotdal
(b) Address: 2910 Colby Ave., Suite 200, Everett, WA 98201
(c) Principal occupation and employer: Private investor in real estate and
president of Skotdal Enterprises, Inc., a real estate development and
management firm at 2910 Colby Ave., Suite 200, Everett, WA 98201.
(c) Criminal convictions within five years: None
(d) Securities law violations within five years: None
(e) Citizenship: U.S.A.
(a) Name of Group Member: Andrew P. Skotdal
(b) Address: 3210 Mission Beach Dr., Marysville, WA 98270
(c) Principal occupation and employer: Manager at KRKO Radio, a radio
station at 7115 Larmier Rd., Everett, WA 98208
(c) Criminal convictions within five years: None
(d) Securities law violations within five years: None
(e) Citizenship: U.S.A.
(a) Name of Group Member: Craig G. Skotdal
(b) Address: 2910 Colby Ave., Suite 300, Everett, WA 98201
(c) Principal occupation and employer: Student
(c) Criminal convictions within five years: None
(d) Securities law violations within five years: None
(e) Citizenship: U.S.A.
ITEM 3 - SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The sum of $18,438 in personal funds was used to effect the recent
purchase of shares as reported in Item 5. Prior purchases also were made with
personal funds. Some shares were acquired by Andrew and Craig Skotdal by gift
from Arthur Skotdal.
ITEM 4 - PURPOSE OF TRANSACTION
The shares were acquired solely for investment purposes. Members of the
group may acquire additional shares for investment. Members of the group have
no plans or proposals for any changes in management or directors, or
extraordinary corporate changes or transactions, concerning the issuer.
<PAGE>
Page 6 of 7
ITEM 5 - INTEREST IN THE SECURITIES OF THE ISSUER
For the group:
(a) Number of securities owned beneficially: 51,839
(Without duplicating shares deemed owned by two or more
group members.)
Percentage of class: 5.02%
Arthur W. Skotdal:
(a) Number of securities owned beneficially: 51,839
(All of which are owned by the two other group members but
as to which he may be considered as, but disclaims,
sharing dispositive and voting power)
Percentage of class: 5.02%
(b) Sole voting power: -0-
Shared voting power: 51,839
Sole dispositive power: -0-
Shared dispositive power: 51,839
(c) Transactions in issuer's securities during past 60 days:
05/13/94 Gave 312 shares to Andrew P. Skotdal.
05/13/94 Gave 313 shares to Craig G. Skotdal.
Andrew P. Skotdal:
(a) Number of securities owned beneficially: 25,920
Percentage of class: 2.51
(b) Sole voting power: -0-
Shared voting power: 25,920
Sole dispositive power: -0-
Shared dispositive power: 25,920
(c) Transactions in issuer's securities during past 60 days:
05/13/94 Received 312 shares as gift from Arthur W. Skotdal.
05/13/94 Bought 625 shares at $14.75 per share through a broker.
Craig G. Skotdal:
(a) Number of securities owned beneficially: 25,919
Percentage of class: 2.51
(b) Sole voting power: -0-
Shared voting power: 25,919
Sole dispositive power: -0-
Shared dispositive power: 25,919
(c) Transactions in issuer's securities during past 60 days:
<PAGE>
Page 7 of 7
05/13/94 Received 313 shares as gift from Arthur W. Skotdal.
05/13/94 Bought 625 shares at $14.75 per share through a broker.
For the Group:
(d) No other persons are known to have the right to receive dividends from,
or the proceeds from the sale of, any of the securities referred to in this
item.
(e) Date reporting person ceased to be 5% owner: Not applicable.
ITEM 6 - CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE BANK
There are no written agreements between the members of the group. Both
Andrew P. Skotdal and Craig G. Skotdal are of legal age, and neither resides
with their father, Arthur W. Skotdal. Because of the family relationship and
the investment advice and assistance offered by the father to his sons, the
three persons may be deemed a group under Section 13(d)(3) of the Act.
ITEM 7 - MATERIAL TO BE FILED AS EXHIBITS
Attached as Exhibit A is an agreement of the reporting persons that this
statement is filed on behalf of each of them, as required by SEC Rule
13d-1(f)(1).
SIGNATURES
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.
May 19, 1994 Arthur W. Skotdal
(Date) (Signature)
May 19, 1994 Andrew P. Skotdal
(Date) (Signature)
May 19, 1994 Craig G. Skotdal
(Date) (Signature)
<PAGE>
EXHIBIT A
AGREEMENT TO FILE JOINT ACQUISITION STATEMENT
We agree, in accordance with SEC Rule 13d-1(f)(1), that the SEC Schedule
13D to which this agreement is attached as an exhibit is filed on behalf of
each of us.
May 19, 1994 Arthur W. Skotdal
(Date) (Signature)
May 19, 1994 Andrew P. Skotdal
(Date) (Signature)
May 19, 1994 Craig G. Skotdal
(Date) (Signature)
