-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LKqWhWp8fLK/W26de2cYC2amxuzU17sSaU2DTKkfmT/zg8uT6WqzTXAWxQm7eJNo +FUi3A5HbPwQcvBr5d1VwQ== 0000928385-99-002506.txt : 19990811 0000928385-99-002506.hdr.sgml : 19990811 ACCESSION NUMBER: 0000928385-99-002506 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19990728 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LIFE FINANCIAL CORP CENTRAL INDEX KEY: 0001028918 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 330743196 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-22193 FILM NUMBER: 99681899 BUSINESS ADDRESS: STREET 1: 10540 N MAGNOLIA ACE STREET 2: UNIT B CITY: RIVERSIDE STATE: CA ZIP: 92503 BUSINESS PHONE: 9098869751 MAIL ADDRESS: STREET 1: 1598 EAST HIGHLAND AVENUE CITY: SAN BERNADINO STATE: CA ZIP: 92404 8-K 1 CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 28, 1999 LIFE Financial Corporation ----------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 000-22193 330743195 - ---------------------------- --------------------- ---------------- (State or other Jurisdiction (Commission File No.) (I.R.S. Employer of Incorporation) Identification No.) 10540 N. Magnolia Ave., Suite B, 92505-1814 -------------------------------- ---------- Riverside, California (Zip Code) --------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (909) 637-4000 -------------- Not Applicable ------------------------------------------------------------ (Former name or former address, if changed since last report) Item 5. Other Events. - ---------------------- On July 28, 1999, the Registrant announced that pursuant to a board meeting on July 27, 1999, Daniel L. Perl is no longer its President and Chief Executive Officer nor President/Chief Executive Officer and Chairman of the Registrant's wholly-owned subsidiary, Life Bank. A press release regarding the announcement is attached as Exhibit 99.1. On August 2, 1999, the Registrant announced that Robert K. Riley has been named as President and Chief Executive Officer of the Registrant and its wholly owned subsidiary, Life Bank. A press release regarding the announcement is attached as Exhibit 99.2. Item 7. Final Statements, Pro Forma Final Information and Exhibits. - -------- ----------------------------------------------------------- (c) Exhibits Exhibit 99.1 Press Release dated July 28, 1999. Exhibit 99.2 Press Release dated August 2, 1999. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 10, 1999 LIFE Financial Corporation By: /s/ Robert K. Riley --------------------------------- Robert K. Riley, President and Chief Executive Officer EX-99.1 2 EXHIBIT 99.1 EXHIBIT 99.1 - ------------ RIVERSIDE, Calif. - (BUSINESS WIRE) -- July 28, 1999 -- LIFE Financial Corporation, parent of Life Bank (Nasdaq; LFCO), has announced that pursuant to the board meeting yesterday, July 27, 1999, Daniel L. Perl is no longer President/Chief Executive Officer and Chairman of Life Bank nor President and Chief Executive Officer of LIFE Financial Corporation. Ronald G. Skipper, Chairman of the Board of LIFE Financial Corporation announced today that "Business will be conducted as usual. A successor President/Chief Executive Officer, who holds shareholder value as a primary objective, will be named shortly." LIFE is headquartered in Riverside, California and operates five (5) branch banks in Southern California. The statements contained in this release that are not of historical facts are forward-looking statements based upon management's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by management. Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve risk and uncertainties. EX-99.2 3 EXHIBIT 99.2 EXHIBIT 99.2 - ------------ LIFE FINANCIAL CORPORATION NAMES ROBERT K. RILEY AS PRESIDENT and CEO of Life Financial Corporation and Life Bank Business Editors RIVERSIDE, Calif.--(BUSINESS WIRE)--Aug. 2, 1999--Life Financial Corporation (Nasdaq:LFCO) today named Robert K. Riley, President and CEO of Life Financial Corporation, and Life Bank. Riley served as a Director on the Board of Life Financial Corporation, the parent of Life Bank, from 1997 to 1999. He also held the position of Managing Director of Life Capital Markets. He will resign his current position as President and CEO of Rainier Capital Corporation, Bellevue, WA. "Bob will bring nearly 20 years of experience and association with banking and financial institutions," said Ron Skipper, Chairman of the Board of Directors at Life Financial. "He is close to the current situation, which will allow a seamless transition in management. He will bring a new energy, focus, and creativity to the company." "We will immediately begin a thorough assessment of all company business lines and their relationship to the bottom line," said Riley. "My focus from the outset will be building shareholder value." Riley who currently resides in Bellevue, WA, was born in New York City, and graduated in 1981 from Brown University, BA in Economics. His experience during 1981-1992 included positions at Bankers Trust Company, Paine Webber, Inc. and Prudential Bache Securities, Inc. encompassing commercial lending, institutional fixed income sales, portfolio/risk management strategies, and the development of an asset/liability management model for thrift institutions. More recently, during 1992-1997, Riley was President and CEO of The Millenium Group, providing consulting services to European Banks. During his tenure, Riley was able to leverage his years of experience in the United States mortgage banking and thrift environment to provide solutions based on U.S. standards. These services included the delivery of a mortgage banking/ securitization and technology platform to Artesia Banking Corporation, now an 80 billion-dollar banking institution headquartered in Brussels, Belgium. Riley also advised numerous European Banks on asset/liability management, and U.S. mortgage banking standards. Riley will be relocating to Southern California with his wife Suzanne, and son Holden. The Company conducts its business from eleven locations: the corporate headquarters and regional lending center located in Riverside, California, four additional regional lending centers located in Jacksonsville, Florida, and the metropolitan areas of Denver, Colorado; Boston, Massachusetts; and San Jose, California. The company also conducts business from the Bank's home office in San Bernardino, and additional bank branches in Riverside, Redlands, Huntington Beach and the newly opened branch in Seal Beach, California. Additionally, a consumer lending center began operations in Riverside, California in 1999. The statements contained in this release that are not of historical facts are forward-looking statements based upon management's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by management. Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve risk and uncertainties. CONTACT: Life Financial Corporation, Riverside Jeffrey L. Blake, 909/637-4096 909/637-4296 (fax) -----END PRIVACY-ENHANCED MESSAGE-----