-----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, JhK9AVvuVNT3vBULKBhnWg3wGUQX/LNxZrc4s1R7eGb2eVALSgQ5FKlxOegOA4ww BVsKrJHjNr+GefSy/AVoiQ== 0001157523-05-000996.txt : 20050203 0001157523-05-000996.hdr.sgml : 20050203 20050203080020 ACCESSION NUMBER: 0001157523-05-000996 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050203 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050203 DATE AS OF CHANGE: 20050203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA CORP CENTRAL INDEX KEY: 0000096638 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 231462070 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-14120 FILM NUMBER: 05571316 BUSINESS ADDRESS: STREET 1: P.O. BOX 844 STREET 2: WELSH & MCKEAN ROADS CITY: SPRING HOUSE STATE: PA ZIP: 19477 BUSINESS PHONE: 2154445341 MAIL ADDRESS: STREET 1: C/O WELSH & MCKEAN ROADS STREET 2: P.O. BOX 844 CITY: SPRING HOUSE STATE: PA ZIP: 19477-0844 FORMER COMPANY: FORMER CONFORMED NAME: TSO FINANCIAL CORP DATE OF NAME CHANGE: 19880306 FORMER COMPANY: FORMER CONFORMED NAME: TEACHERS SERVICE ORGANIZATION INC DATE OF NAME CHANGE: 19850812 8-K 1 a4814191.txt ADVANTA CORP. 8-K UNITED STATES 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) February 3, 2005 ---------------- Advanta Corp. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 0-14120 23-1462070 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) Welsh & McKean Roads, P.O. Box 844, Spring House, Pennsylvania 19477 - -------------------------------------------------------------- ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (215) 657-4000 -------------- - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02 Results of Operation and Financial Condition. The information in this Current Report on Form 8-K is to be considered "filed" under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). On February 3, 2005, Advanta Corp. (the "Company") issued a press release announcing that it had received final approval from the Internal Revenue Service of its settlement of certain tax disputes with Bank of America Corporation. Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. The following exhibit relating to Item 2.02 shall be deemed "filed" under the Exchange Act: 99.1 Press Release issued February 3, 2005 announcing Advanta's receipt of final approval from the Internal Revenue Service of the settlement of certain tax disputes with Bank of America Corporation. 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. Advanta Corp. --------------------------------- (Registrant) Date: February 3, 2005 By: /s/ Elizabeth Mai ----------------------------- Elizabeth H. Mai Senior Vice President, Secretary and General Counsel EXHIBIT INDEX ------------- Exhibit Description Method of Filing - ------- ----------- ---------------- 99.1 Press Release issued February 3, 2005 announcing Filed herewith Advanta's receipt of final approval from the Internal Revenue Service of the settlement of certain tax disputes with Bank of America Corporation. EX-99.1 2 a4814191ex991.txt ADVANTA CORP. EXHIBIT 99.1 Exhibit 99.1 Advanta Receives Final IRS Approval Regarding Settlement with Bank of America SPRING HOUSE, Pa.--(BUSINESS WIRE)--Feb. 3, 2005--Advanta Corp. (NASDAQ:ADVNB;ADVNA) announced today that the Internal Revenue Service has given final approval of the settlement of the tax disputes between Advanta Corp. and FleetBoston Financial Corporation, which was acquired by Bank of America Corporation (NYSE:BAC) in 2004. The settlement of the tax disputes is part of Advanta's agreement with Bank of America. As a result of the IRS approval, Advanta received $63.8 million in cash from Bank of America, representing a return of the payments that were made to Fleet in the Delaware state court litigation in early 2004. Consistent with the terms of the settlement, all outstanding litigation between the two companies is being dismissed. The settlement results in a net after-tax gain of approximately $61 million and an increase in book value of approximately $2.45 per share, as previously outlined. The impact of the settlement, which will be reflected in Advanta's first quarter 2005 results, was not included in the Company's previously announced 2005 guidance estimates. Advanta focuses on the small business market and related community, providing funding and support to the nation's small businesses through innovative products and services. Using its direct marketing and information based expertise, Advanta identifies potential customers and provides a high level of service tailored to the unique needs of small businesses. Advanta is one of the nation's largest issuers (through Advanta Bank Corp.) of MasterCard business credit cards to small businesses. Since 1951, Advanta has pioneered many of the marketing techniques common in the financial services industry today, including remote lending and direct mail, affinity and relationship marketing. Learn more about Advanta at www.advanta.com. CONTACT: Advanta Corp. Chris Curran Vice President Investor Relations 215-444-5335 ccurran@advanta.com or Jennifer Lyons Communications 215-444-5073 AdvantaCommunications@advanta.com -----END PRIVACY-ENHANCED MESSAGE-----