<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
Amendment No. 1 on Schedule 13G
WFS FINANCIAL INC
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Without Par Value
- -------------------------------------------------------------------------------
(Title of Class of Securities)
92923B
- -------------------------------------------------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with the 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.)
*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).
Continued on following page(s))
Page 1 of 33 Pages
<PAGE> 2
CUSIP No. 92923B 13G Page 2 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ERNEST S. RADY AND ERNEST S. RADY TRUST
Social Security No. ###-##-####
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
IN
==============================================================================
<PAGE> 3
CUSIP No. 92923B 13G Page 3 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EVELYN SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
Social Security No. ###-##-####
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
IN
==============================================================================
<PAGE> 4
CUSIP No. 92923B 13G Page 4 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN FINANCIAL BANK F.S.B.
I.R.S. ID NO. 94-2504080
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES CORPORATION (PRINCIPAL PLACE OF BUSINESS: CALIFORNIA)
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
BK
==============================================================================
<PAGE> 5
CUSIP No. 92923B 13G Page 5 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTCORP
I.R.S. ID NO. 51-0308535
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
HK
==============================================================================
<PAGE> 6
CUSIP No. 92923B 13G Page 6 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EXPLORER INSURANCE COMPANY
I.R.S. ID NO. 94-2784519
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
ARIZONA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
IC
==============================================================================
<PAGE> 7
CUSIP No. 92923B 13G Page 7 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AMERICAN ASSETS, INC.
I.R.S. ID NO. 95-249-3347
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
CO
==============================================================================
<PAGE> 8
CUSIP No. 92923B 13G Page 8 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AVRETT ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
CO
==============================================================================
<PAGE> 9
CUSIP No. 92923B 13G Page 9 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CANPAC ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
CO
==============================================================================
<PAGE> 10
CUSIP No. 92923B 13G Page 10 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INSURANCE COMPANY OF THE WEST
I.R.S. ID NO. 95-2769232
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
CO
==============================================================================
<PAGE> 11
CUSIP No. 92923B 13G Page 11 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MEMRAD HOLDINGS, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
CO
==============================================================================
<PAGE> 12
CUSIP No. 92923B 13G Page 12 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SILPIT INDUSTRIES CO., LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
CO
==============================================================================
<PAGE> 13
CUSIP No. 92923B 13G Page 13 of 33 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN INSURANCE HOLDINGS, INC.
I.R.S. ID NO. 95-2890041
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- ------------------------------------------------------------------------------
5) SOLE VOTING POWER
SEE ITEM 4 OWNERSHIP
NUMBER OF ---------------------------------------------------------------
SHARES 6) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 4 OWNERSHIP
---------------------------------------------------------------
8) SHARED DISPOSITIVE POWER
- ------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 4 OWNERSHIP
- ------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 81.29% (based on 25,684,168 shares outstanding)
- ------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON*
CO
==============================================================================
<PAGE> 14
Item 1. Security and Issuer.
Common Stock, Without Par Value
WFS FINANCIAL INC
16485 Laguna Canyon Road, Suite 250
Irvine, CA 92718
Item 2. Identity and Background.
Ernest S. Rady and Ernest S. Rady Trust
(a) Ernest S. Rady and Ernest S. Rady, Trustee
(b) Mr. Rady's residence address is:
Ernest S. Rady
8144 Prestwick Drive
La Jolla, CA 92037
The Trust's principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
(c) Mr. Rady is a Canadian citizen.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Evelyn Shirley Rady and Evelyn Shirley Rady Trust
(a) Evelyn Shirley Rady, Ernest S. Rady, Trustee
(b) Mrs. Rady's residence address is:
Evelyn Shirley Rady
8144 Prestwick Drive
La Jolla, CA 92037
The Trust's principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
(c) Mrs. Rady is a Canadian citizen.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Western Financial Bank F.S.B.
(a) WESTERN FINANCIAL BANK F.S.B.
(b) The principal business address is:
16485 Laguna Canyon Road
Irvine, California 92618-3820
(c) California corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Page 14 of 33 Pages
<PAGE> 15
Westcorp
(a) WESTCORP
(b) The principal business address is:
23 Pasteur Road
Irvine, California 92718-3804
(c) California corporation
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Explorer Insurance Company
(a) EXPLORER INSURANCE COMPANY
(b) The principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
(c) Arizona corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
American Assets, Inc.
(a) American Assets, Inc.
(b) The principal business address is:
American Assets, Inc.
11455 El Camino Real
San Diego, CA 92130-2045
(c) California corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Avrett Enterprises, Ltd.
(a) Avrett Enterprises, Ltd.
(b) The principal business address is:
Avrett Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Canadian corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Page 15 of 33 Pages
<PAGE> 16
Canpac Enterprises, Ltd.
(a) Canpac Enterprises, Ltd.
(b) The principal business address is:
Canpac Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Canadian corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Insurance Company of the West
(a) Insurance Company of the West
(b) The principal business address is:
Insurance Company of the West
11455 El Camino Real
San Diego, CA 92130-2045
(c) California corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Memrad Holdings, Ltd.
(a) Memrad Holdings, Ltd.
(b) The principal business address is:
Memrad Holdings, Ltd.
203-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
(c) Canadian corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Silpit Industries Co., Ltd.
(a) Silpit Industries Co., Ltd.
(b) The principal business address is:
Silpit Industries Co., Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) California corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Page 16 of 33 Pages
<PAGE> 17
Western Insurance Holdings, Inc.
(a) Western Insurance Holdings, Inc.
(b) The principal business address is:
Western Insurance Holdings, Inc.
11455 El Camino Real
San Diego, CA 92130-2045
(c) California corporation.
(d) Title of Class of Securities: Common Stock.
(e) CUSIP No. 92923B
Page 17 of 33 Pages
<PAGE> 18
Item 8. Identification and Classification of Members of the Group.
Ernest S. Rady and Ernest S. Rady Trust
See above
Evelyn Shirley Rady and Evelyn Shirley Rady Trust
See above
Western Financial Bank, F.S.B.
<TABLE>
<CAPTION>
(a) Western Financial Bank, F.S.B.
<S> <C>
Names and Addresses of Officers
and Directors as of December 31, 1996
(the end of the filing period) Title
Ernest S. Rady Chairman of the Board
1844 Prestwick Drive
La Jolla, California 92037
Donald H. Kasle President & Chief Executive Officer
23 Pasteur Road
Irvine, California 92718-3804
Joy Schaefer Senior Executive Vice President
23 Pasteur Road & Chief Operating Officer
Irvine, California 92718-3804
Robert E. Adams Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Terrance P. Mungon Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Harriet Burns Feller Executive Vice President, Secretary
23 Pasteur Road & General Counsel
Irvine, California 92718-3804
Lee A. Whatcott Executive Vice President
23 Pasteur Road
Irvine, California
</TABLE>
Page 18 of 33 Pages
<PAGE> 19
<TABLE>
<CAPTION>
<S> <C>
Richard W. Stephan Executive Vice President & Chief
23 Pasteur Road Information Officer
Irvine, California 92718-3804
Arthur Alvarez Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Michael Johnson Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
James E. Tecca Executive Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Gary Plooster Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Kevin Farrenkopf Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Debbie Horton Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Craig Loe Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Mark Metzinger Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
Richard Palmer Senior Vice President, Chief
16485 Laguna Canyon Road Financial Officer & Controller
Irvine, California 92618-3820
J. Keith Palmer Vice President and Treasurer
23 Pasteur Road
Irvine, California 92718-3804
Daniel Sussman Senior Vice President
16485 Laguna Canyon Road
Irvine, California 92618-3820
</TABLE>
Page 19 of 33 Pages
<PAGE> 20
<TABLE>
<S> <C>
Guy Du Bose Vice President & Associate General Counsel
23 Pasteur Road
Irvine, California 92718-3804
Joan C. Van Winkle Assistant Vice President & Assistant Secretary
23 Pasteur Road
Irvine, California 92718-3804
Judith M. Bardwick Director
23 Pasteur Road
Irvine, California 92718-3804
William J. Crawford Director
23 Pasteur Road
Irvine, California 92718-3804
Robert W. Jenkins Director
23 Pasteur Road
Irvine, California 92718-3804
Alan L. Milligan Director
23 Pasteur Road
Irvine, California 92718-3804
Stanley E. Foster Director
23 Pasteur Road
Irvine, California 92718-3804
</TABLE>
Page 20 of 33 Pages
<PAGE> 21
Westcorp
(a) Westcorp
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of December 31, 1996
(the end of the filing period) Title
------------------------------------- -----
<S> <C>
Ernest S. Rady Chairman of the Board, President
1844 Prestwick Drive and Chief Executive Officer
La Jolla, California 92037
Donald H. Kasle Senior Executive Vice President &
16485 Laguna Canyon Road Chief Administrative Officer,
Irvine, California 92618-3820 Director
Joy Schaefer Senior Executive Vice President &
23 Pasteur Road Chief Operating Officer
Irvine, California 92718-3804
Harriet Burns Feller Executive Vice President, General
23 Pasteur Road Counsel & Secretary
Irvine, California 92718-3804
Lee A. Whatcott Senior Vice President, Chief
23 Pasteur Road Financial Officer & Controller
Irvine, California 92718-3804
J. Keith Palmer Vice President & Treasurer
23 Pasteur Road
Irvine, California 92718-3804
Richard W. Stephan Senior Vice President
23 Pasteur Road
Irvine, California 92718-3804
Joan C. Van Winkle Assistant Vice President &
23 Pasteur Road Assistant Secretary
Irvine, California 92718-3804
Judith M. Bardwick Director
23 Pasteur Road
Irvine, California 92718-3804
William J. Crawford Director
23 Pasteur Road
Irvine, California 92718-3804
</TABLE>
Page 21 of 33 Pages
<PAGE> 22
<TABLE>
<S> <C>
Alan L. Milligan Director
23 Pasteur Road
Irvine, California 92718-3804
Stanley E. Foster Director
23 Pasteur Road
Irvine, California 92718-3804
</TABLE>
Explorer Insurance Company
(a) Explorer Insurance Company
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of December 31, 1996 Title
------------------------------------- -----
<S> <C>
Ernest S. Rady Chairman of the Board
8144 Prestwick Drive
La Jolla, CA 92037
Bernard M. Feldman President, Director
11455 El Camino Real
San Diego, CA 92130-2045
Frederick Bernard Tisovic Senior Vice President, Director
11455 El Camino Real
San Diego, CA 92130-2045
John L. Hannum Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
James W. Austin III Director
11455 El Camino Real
San Diego, CA 92130-2045
H. Michael Freet Treasurer, Director
11455 El Camino Real
San Diego, CA 92130-2045
E. Harned Davis Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Gene P. Irizarry Vice President
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Page 22 of 33 Pages
<PAGE> 23
<TABLE>
<S> <C>
Fariborz Rostamian Vice President
11455 El Camino Real
San Diego, CA 92130-2045
John A. DiFalco Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Mary E. Cannon Secretary
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
American Assets, Inc.
(a) American Assets, Inc., a California corporation
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of December 31, 1996 Title
------------------------------------- -----
<S> <C>
Ernest S. Rady Chairman of the Board and President
8144 Prestwick Drive
La Jolla, CA 92037
Harry M. Rady Director
11455 El Camino Real
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real
San Diego, CA 92130-2045
John W. Chamberlain Chief Executive Officer, Senior
11455 El Camino Real Executive Vice President
San Diego, CA 92130-2045
Allen Garrett Executive Vice President, Chief
11455 El Camino Real Operating Officer
San Diego, CA 92130-2045
Valerie A. McPherson Vice President, Chief Financial
11455 El Camino Real Officer, Secretary
San Diego, CA 92130-2045
James R. Cronemeyer Vice President - Commercial
11455 El Camino Real Property Management
San Diego, CA 92130-2045
</TABLE>
Page 23 of 33 Pages
<PAGE> 24
<TABLE>
<S> <C>
Richard M. McKee Vice President - Construction
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Avrett Enterprises, Ltd.
(a) Avrett Enterprises, Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of December 31, 1996 Title
------------------------------------- -----
<S> <C>
Sylvia Silverberg President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Vice President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
David A. Kaufman Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
</TABLE>
Page 24 of 33 pages
<PAGE> 25
Canpac Enterprises, Ltd.
(a) Canpac Enterprises, Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of December 31, 1996 Title
<S> <C>
Ernest S. Rady President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Brian Hirsch Secretary, Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Insurance Company of the West
(a) Insurance Company of the West
Names and Addresses of Officers
and Directors as of December 31, 1996 Title
Ernest S. Rady Chairman of the Board
8144 Prestwick Drive
La Jolla, CA 92037
Bernard M. Feldman President, Director
11455 El Camino Real
San Diego, CA 92130-2045
Richard S. King Director
11455 El Camino Real
San Diego, CA 92130-2045
Michael F. McAuliffe Director
11455 El Camino Real
San Diego, CA 92130-2045
Bruce N. Moore Director
11455 El Camino Real
San Diego, CA 92130-2045
James B. Rathbun Director
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Page 25 of 33 Pages
<PAGE> 26
Charles E. Scribner Director
11455 El Camino Real
San Diego, CA 92130-2045
David S. Kaufman Director
11455 El Camino Real
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer
11455 El Camino Real
San Diego, CA 92130-2045
John L. Hannum Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
James A. Currie Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
John A. DiFalco Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Rory Read Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Walter F.A. Prayer Senior Vice President
11455 El Camino Real
San Diego, CA 92130-2045
H. Edward Hire Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Gene P. Irizarry Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Leslie M. Obayashi Vice President
11455 El Camino Real
San Diego, CA 92130-2045
E. Harned Davis Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Page 26 of 33 Pages
<PAGE> 27
Dennis E. Osgood Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Daniel F. Reading Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Bruce J. Schryver Vice President
11455 El Camino Real
San Diego, CA 92130-2045
Samuel A. Banks, Sr. Resident Vice President
11455 El Camino Real
San Diego, CA 92130-2045
James W. Austin III Secretary, Vice President &
11455 El Camino Real General Counsel
San Diego, CA 92130-2045
Fariborz Rostamian Vice President, Controller
11455 El Camino Real
San Diego, CA 92130-2045
Memrad Holdings, Ltd.
Names and Addresses of Officers Title
and Directors as of December 31, 1996
(a) Memrad Holdings, Ltd.
Ernest S. Rady President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Marjorie Blankenstein Director, Treasurer
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Morley Blankenstein Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Page 27 of 33 Pages
<PAGE> 28
<TABLE>
<S> <C>
Mindel Olenick Assistant Secretary, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Thomas Z. Olenick Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Brian Hirsch Secretary
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
</TABLE>
Silpit Industries Co., Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of December 31, 1996 Title
------------------------------------- -----
<S> <C> <C>
(a) Silpit Industries Co., Ltd.
Ernest S. Rady Chairman of the Board
8144 Prestwick Drive
La Jolla, CA 92037
David S. Kaufman President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Director
8144 Prestwick Drive
La Jolla, CA 92037
Sylvia Silverberg Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
</TABLE>
Page 28 of 33 Pages
<PAGE> 29
Western Insurance Holdings, Inc.
<TABLE>
<CAPTION>
Names and Addresses of Officers
and Directors as of December 31, 1996 Title
------------------------------------- -----
<S> <C> <C>
(a) Western Insurance Holdings, Inc.
Ernest S. Rady Chairman of the Board
8144 Prestwick Drive
La Jolla, CA 92037
Bernard M. Feldman President, Director
11455 El Camino Real
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer,
11455 El Camino Real Director
San Diego, CA 92130-2045
James W. Austin III Secretary
11455 El Camino Real
San Diego, CA 92130-2045
</TABLE>
Page 29 of 33 Pages
<PAGE> 30
Item 3. Nature of Person.
Not Applicable. Group filing but not under Rule 13d-1(b)(2).
Item 4. Ownership.
This filing is for the cumulative share holdings of an affiliated group
as December 31, 1996. The various entities named in this Schedule 13G are owned
directly and indirectly through a series of affiliated companies which are owned
or controlled by Ernest S. Rady and Evelyn Shirley Rady (reporting hereunder).
The collective ownership, as of December 31, 1996, of 20,878,175 shares of
Common Stock of the Issuer, represents 81.29% of the 25,684,168 outstanding
shares of Common Stock of the Issuer. Exhibit A attached hereto and incorporated
by this reference herein depicts the relationship among the various affiliated
companies in the "Rady" group. There is no formal agreement to vote or dispose
of the shares of the Issuer in a particular manner. The dispositive and voting
power of each of the individuals and companies shown on Schedule A is made
independent of the other, except to the extent that Mr. and Mrs. Rady may be
shareholders, officers and/or directors of the various companies and in that
respect are able to control disposition and voting of the shares of the Issuer
owned by each such company.
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
None.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certification.
Not Applicable. Filing is made under Rule 13d-1(c).
Page 30 of 33 Pages
<PAGE> 31
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.
<TABLE>
<S> <C>
Dated: February 12, 1997 /s/ Ernest S. Rady
---------------------------------------
Ernest S. Rady
Ernest S. Rady Trust
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady Trust, Trustee
Evelyn Shirley Rady Trust
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Trustee
Dated: February 12, 1997 /s/ Evelyn Shirley Rady
---------------------------------------
Evelyn Shirley Rady
Western Financial Bank, F.S.B.
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Westcorp
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, President
Explorer Insurance Company
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
</TABLE>
Page 31 of 33 Pages
<PAGE> 32
<TABLE>
<S> <C>
American Assets, Inc.
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Avrett Enterprises, Ltd.
Dated: February 12, 1997 By: /s/ Evelyn Rady
-----------------------------------
Evelyn Rady, Vice President
Canpac Enterprises, Ltd.
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, President
Insurance Company of the West
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Memrad Holdings, Ltd.
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, President
Silpit Industries Co., Ltd.
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Western Insurance Holdings, Inc.
Dated: February 12, 1997 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
</TABLE>
Page 32 of 33 Pages
<PAGE> 33
Exhibit A
Organizational Chart of Rady Entities Beneficially
Holding Shares in WFS Financial Inc as of December 31, 1996
HOLDING COMPANY STRUCTURE
----------------- -----------------
- -----------Ernest Rady Trust----------- Evelyn Rady Trust-------
/ --- ---- / ------/-----------
/ / ----------------- / / ----------------- / /
/ / / / / / / /
/ / / 47% / / / 50% 25.9% /
/ / / / / / / /
/ / ---------------------/ / ------------------------ / /
/ / Memrad Holdings, Ltd./ / Avrett Enterprises, Ltd.------ /
/ / ---------------------/ / ------------------------ / / /
/ / / / / / / / /
/ / / 62.5% 4.75% / / / /
/ / / / / / 35.9% / / /
/ / 44.9% / / / / / /
/ / / / / -------------------------- / 2.2% /
/ 15.2% / / / Silpit Industries Co. Ltd.-- / /
/ / / / / -------------------------- / /
/ / / / / / 25.4% / /
/ / / / / ------------------------ / /
/ / / -------/-----Canpac Enterprises, Ltd.---- /
/ / / / ------------------------ /
/ / / / / /
/ / / ----------------/------ /
/ / / --------------------- / / /
7.0% / -------American Assets, Inc.-- 24.3%-- / /
/ ---------------- / /
/ --------------------- / /
/ 48.3% / 88% / /
/ ----------------------------------------- / 0.7%
/ / / / /
/ / --------------------- /
/ / Western Ins. Holdings /
/ / --------------------- /
/ / / /
/ / / 100% /
/ / / /
/ / ------------------------- /
/ / ------------ 5.8% ------- Insurance Co. of the West /
/ / / ------------------------- /
/ / / / /
/ / / / 100% /
/ / / / /
/ / / ---------------------- /
/ / / ---------- 0.1% --------- Explorer Insurance Co. /
/ / / / ---------------------- /
/ / / / /
/ -------- /
- --------------Westcorp----------------------------------------------------------
--------
/
/ 100%
/
-----------------
Western Financial
Bank F.S.B.
-----------------
Page 33 of 33 Pages
