-----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, DJqQedsCXoCxItvRgYV4uGQHzX+T3MMtZsi9rRX70sTr5hgXkgax84YbYHvVtExZ 1xlxedK2S0UoUrY4TCzTow== 0000912057-00-020604.txt : 20000502 0000912057-00-020604.hdr.sgml : 20000502 ACCESSION NUMBER: 0000912057-00-020604 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000501 GROUP MEMBERS: AMSTER HOWARD GROUP MEMBERS: AMSTER TRADING CO. GROUP MEMBERS: RAMAT SECURITIES LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WILSHIRE FINANCIAL SERVICES GROUP INC CENTRAL INDEX KEY: 0001024321 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 931223879 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-49579 FILM NUMBER: 614766 BUSINESS ADDRESS: STREET 1: 1776 SW MADISON STREET CITY: PORTLAND STATE: OR ZIP: 97205 BUSINESS PHONE: 5032235600 MAIL ADDRESS: STREET 1: 776 SW MADISON ST CITY: PROTLAND STATE: OR ZIP: 97205 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AMSTER HOWARD CENTRAL INDEX KEY: 0000904853 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 25812 FAIRMONT BLVD CITY: BEACHWOOD STATE: OH ZIP: 44122 BUSINESS PHONE: 2165951047 SC 13D 1 SC 13D UNITED STATES OMB APPROVAL SECURITIES AND EXCHANGE COMMISSION -------------------- Washington, D.C. 20549 OMB Number: 3235- 0145 SCHEDULE 13D -------------------- Expires: October 31, Under the Securities Exchange Act of 1934 2002 (Amendment No._________)* -------------------- Estimated Average burden hours per response.. 14.9 -------------------- WILSHIRE FINANCIAL SERVICES GROUP INC. -------------------------------------------------------- (Name of Issuer) COMMON STOCK, PAR VALUE $.01 -------------------------------------------------------- (Title of Class of Securities) 971867205 -------------------------------------------------------- (CUSIP Number) HOWARD AMSTER, 23811 CHAGRIN BLVD #200 BEACHWOOD, OHIO 44122-5525 (216)595-1047 -------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) 4/24/00 -------------------------------------------------------- (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 / /. 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 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). CUSIP No. 971867205 13D Page of Pages --------- --- --- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons HOWARD AMSTER - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* PF - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization USA - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power 1080000 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 100000 -------------------------------------------------- (9) Sole Dispositive Power 1080000 -------------------------------------------------- (10) Shared Dispositive Power 100000 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 1330000 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 6.639% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* IN - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 971867205 13D Page of Pages --------- --- --- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons AMSTER TRADING COMPANY - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* WC - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 100000 -------------------------------------------------- (9) Sole Dispositive Power -------------------------------------------------- (10) Shared Dispositive Power 100000 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 100000 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) .499% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* CO - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 971867205 13D Page of Pages --------- --- --- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons RAMAT SECURITIES LTD - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) /X/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* WC - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Beneficially Owned Power 150000 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power -------------------------------------------------- (9) Sole Dispositive Power 150000 -------------------------------------------------- (10) Shared Dispositive Power - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 150000 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) .749% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* BD - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! SCHEDULE 13D CUSIP 971867205 Item 1. Security and Issuer Wilshire Financial Services Group Inc. 1776 SW Madison Street Portland, OR 97205 (503) 223-5600 Item 2. Identity and Background Howard Amster is a 99% owner of Amster Trading Company and as such can be deemed the beneficial owner of such entity and may be deemed to have shared voting and dispositive power over shares owned by Amster Trading Company. Howard Amster is a 83% owner of Ramat Securities Ltd. Howard Amster can be deemed to be a beneficial owner of any securities owned by Ramat Securities Ltd. but because he does not control the voting or dispositive power of any securities owned by Ramat Securities Ltd., Mr. Amster disclaims shared voting power and shared dispositive power of those shares. a) Howard Amster b) 25812 Fairmount Blvd, Beachwood, Ohio 44122 c) Present principal occupation-Financial Advisor, First Union Securities Securities Brokerage Firm-23811 Chagrin Blvd #200, Beachwood, Oh 44122 d) Howard Amster has not been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors, if any) within the last five years. e) Howard Amster has not been a party to any civil proceedings of a judicial or administrative body of competent jurisdiction of the type described in Item 2 of Schedule 13D within the last five years. f) USA Amster Trading Company, 25812 Fairmount Blvd, Beachwood, Ohio 44122 Investments d) Neither the officers, directors, or shareholders of Amster Trading Company have been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors, if any) within the last five years. e) Neither the officers, directors or shareholders of Amster Trading Company have been a party to any civil proceedings of a judicial or administrative body of competent jurisdiction of the type described in Item 2 of Schedule 13D within the last five years. Ramat Securities Ltd, 23811 Chagrin Blvd, Suite 200, Beachwood, Ohio 44122 Broker Dealer d) Neither the members or unitholders of Ramat Securities Ltd have been convicted in any criminal proceedings (excluding the traffic violations or similar misdemeanors, if any) within the last five years. e) Neither the members or unitholders of Ramat Securities Ltd have been a a party to any civil proceedings of a judicial or administrative body or competent jurisdictions of the type described in Item 2 of Schedule 13D within the last five years. Item 3. Source and Amount of Funds or Other Consideration Howard Amster, in his individual retirement accounts purchased all the Wilshire Financial Services Group, Inc. common stock with personal funds without borrowing. the total consideration of the purchases is $ 1,126,250.00. Amster Trading Company purchased all the Wilshire Financial Services Group, Inc. common stock with working capital without borrowing. The total consideration of the purchases is $ 95,750.00. Ramat Securities Ltd purchased all the Wilshire Financial Services Group, Inc. common stock with working capital without borrowing. The total consideration of the purchases is $ 143,640.00. Item 4. Purpose of Transaction. Howard Amster, Amster Trading Company, and Ramat Securities Ltd. acquired their shares for purposes of investment. They may be deemed to be a group. There are no present plans or proposals by any of the purchasers of record or the beneficial owners as reported in this Schedule 13D which relate to or would result in the following: a) The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer provided, however, the reporting person might acquire additional shares or other securities of the issuer or dispose of some or all of their shares depending upon market conditions and their personal circumstances; b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries; c) A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries; d) any change in the present board of directors or management of the issuer, including any plans or proposals to change the number of terms of directors or to fill any existing vacancies on the board; e) Any material change in the present capitalization or dividend policy of the issuer; f) Any other material in the issuer's business or corporate structure; g) Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; h) Causing a class of securities of the issuer to be delisted from a national securities exchange or cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; i) A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or j) Any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer (a)(b) The aggregate amount owned by the Reporting Persons is 1,330,000 shares or 6.639 % of the outstanding shares. Howard Amster in his individual retirement accounts owns 1,080,000 shares or 5.391 % of the outstanding shares. Amster Trading Company owns 100,000 shares or 0.499 % of the outstanding shares. Ramat Securities Ltd owns 150,000 shares or 0.749 % of the outstanding shares. c) The following table reflects dates bought, shares and price. All shares executed on the Over-The-Counter/ Bulletin Board as an Open Market Transaction by Bear Stearns.
Howard Amster's individual retirement accounts. 4/7/00 130,000 .9375 4/10/00 425,000 .995588 4/11/00 10,000 1.0625 4/12/00 100,000 1.09375 4/13/00 75,000 1.0642 4/14/00 10,000 1.0625 4/24/00 300,000 1.125 4/26/00 30,000 1.1179 Amster Trading Company 4/7/00 100,000 .9575 Ramat Securities Ltd 4/7/00 150,000 .9576
Item 6 Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. There are no contracts, arrangements, understandings or relationships with respect to securities of the issuer with any persons except as set forth In items 2, 3, 5 above. Item 7 Material to be filed as exhibits. None Signature After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Date: 4/28/00 /s/ /s/ /s/ Howard Amster Amster Trading Company Ramat Securities Ltd. -----END PRIVACY-ENHANCED MESSAGE-----