-----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, WSvX1bSSm7a6XsJQj5HupbH1OgIYswKx8bvBTXhacyvoNzxsK+khRClH7LkuQwgj 5zkwO0mHRdK2H+4Dj5EyQg== 0001107416-03-000015.txt : 20030829 0001107416-03-000015.hdr.sgml : 20030829 20030829115850 ACCESSION NUMBER: 0001107416-03-000015 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030829 GROUP MEMBERS: ERIC D. HOVDE GROUP MEMBERS: FINANCIAL INSTITUTION PARTNERS III, L.P. GROUP MEMBERS: HOVDE ACQUISITION II, L.L.C. GROUP MEMBERS: HOVDE CAPITAL ADVISORS LLC GROUP MEMBERS: STEVEN D. HOVDE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: JACKSONVILLE BANCORP INC /FL/ CENTRAL INDEX KEY: 0001071264 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 593472981 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78810 FILM NUMBER: 03873102 BUSINESS ADDRESS: STREET 1: PO BOX 40466 CITY: JACKSONVILLE STATE: FL ZIP: 32203-0466 BUSINESS PHONE: 9044213040 MAIL ADDRESS: STREET 1: PO BOX 40466 CITY: JACKSONVILLE STATE: FL ZIP: 32203-0466 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FINANCIAL INSTITUTION PARTNERS III LP CENTRAL INDEX KEY: 0001107416 IRS NUMBER: 522199979 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1824 JEFFERSON PLACE NW CITY: WASHINGTON STATE: DC ZIP: 20036 SC 13D/A 1 jaxb13da1.txt 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D UNDER THE EXCHANGE ACT OF 1934 Jacksonville Bancorp, Inc. /FL/ - ------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.01 Par Value - ------------------------------------------------------------------------------- (Title of Class of Securities) 469249106 ------------------------------------------------------------------------------- (CUSIP Number) Richard J. Perry, Jr., Esquire Perry & Associates, P.C. 1826 Jefferson Place, N.W. Washington, D.C. 20036 (202) 775-8109 ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 27, 2003 ------------------------------------------------------------------------------- (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 that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.[ ] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) 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). Exhibit Index at page 14 Page 1 of 15 2
- ------------------------------------------------------------------------------- CUSIP NUMBER 469249106 - ------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Hovde Capital Advisors LLC / 03-0430205 - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)X (b) - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. SOURCE OF FUNDS (See Instructions) AF - ------------------------------------------------------------------------------- 5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [ ] - ------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Organized: State of Delaware - ------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------------------------- REPORTING 8. SHARED VOTING POWER PERSON WITH(1) 113,700 shares ---------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER 0 ---------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 113,700 shares ---------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 113,700 shares - ------------------------------------------------------------------------------- 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES. [ ] - ------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.7% - ------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON OO - ------------------------------------------------------------------------------- (1) The 113,700 shares beneficially owned by Hovde Capital Advisors LLC are as Investment Manager to Financial Institution Partners III, L.P., the direct owner.
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- ------------------------------------------------------------------------------- CUSIP NUMBER 469249106 - ------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Financial Institution Partners III, L.P. / 52-2199979 - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)X (b) - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. SOURCE OF FUNDS WC - ------------------------------------------------------------------------------- 5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e). [ ] - ------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Organized: State of Delaware - ------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------------------------- REPORTING 8. SHARED VOTING POWER PERSON WITH 113,700 shares ---------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER 0 ---------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 113,700 shares ---------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 113,700 shares - ------------------------------------------------------------------------------- 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES. [ ] - ------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.7% - ------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------- CUSIP NUMBER 469249106 - ------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Hovde Acquisition II, L.L.C. / 88-0500145 - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)X (b) - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. SOURCE OF FUNDS WC - ------------------------------------------------------------------------------- 5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e). [ ] - ------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Organized: State of Nevada - ------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------------------------- REPORTING 8. SHARED VOTING POWER PERSON WITH 32,200 shares ---------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER 0 ---------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 32,200 shares ---------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 32,200 shares - ------------------------------------------------------------------------------- 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES. [ ] - ------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.9% - ------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------
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- ------------------------------------------------------------------------------- CUSIP NUMBER 469249106 - ------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Eric D. Hovde - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)X (b) - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. SOURCE OF FUNDS AF - ------------------------------------------------------------------------------- 5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e). [ ] - ------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA - ------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------------------------- REPORTING 8. SHARED VOTING POWER PERSON WITH(2) 145,900 Shares ---------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER 0 ---------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 145,900 Shares ---------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 145,900 Shares - ------------------------------------------------------------------------------- 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES. [ ] - ------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.6% - ------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- (2) Of the 145,900 Shares beneficially owned by Eric D. Hovde, 113,700 are as President, Chief Executive Officer, and managing member of Hovde Capital Advisors LLC, the Investment Manager to Financial Institution Partners III, L.P., the direct owner, and 32,200 are as managing member and President of Hovde Acquisition II, L.L.C., the direct owner.
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- ------------------------------------------------------------------------------- CUSIP NUMBER 469249106 - ------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Steven D. Hovde - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)X (b) - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. SOURCE OF FUNDS AF - ------------------------------------------------------------------------------- 5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [ ] - ------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA - ------------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------------------------- REPORTING 8. SHARED VOTING POWER PERSON WITH(3) 145,900 Shares ---------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER 0 ---------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 145,900 Shares ---------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 145,900 Shares - ------------------------------------------------------------------------------- 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES. [ ] - ------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.6% - ------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------- (3) Of the 145,900 Shares beneficially owned by Steven D. Hovde, 113,700 are as Chairman of Hovde Capital Advisors LLC, the Investment Manager to Financial Institution Partners III, L.P., the direct owner, and 32,200 are as managing member and Executive Vice President of Hovde Acquisition II, L.L.C., the direct owner.
Page 6 of 15 7 Item 1. Security and Issuer The class of security to which this statement relates is the common stock, $.01 par value, of Jacksonville Bancorp, Inc. (the "Issuer"). The address of the principal executive offices of the Issuer is 76 South Laura Street, Suite 104, Jacksonville, Florida 32202. Item 2. Identity and Background The persons filing this statement are Financial Institution Partners III, L.P. (the "Limited Partnership"), Hovde Capital Advisors LLC (the "Investment Manager"), Hovde Acquisition II, L.L.C., Eric D. Hovde, and Steven D. Hovde who are collectively referred to herein as the "Reporting Persons." The Limited Partnership is a Delaware limited partnership formed for the purpose of investing in, among other things, the equity securities of various financial institutions and financial services companies. Hovde Capital Advisors LLC, a Delaware limited liability company, is the Investment Manager to Financial Institution Partners III, L.P., the direct owner. Hovde Acquisition II, L.L.C. is a Nevada limited liability company formed for the purpose of investing in, among other things, the equity securities of various financial institutions. Both Eric D. Hovde and Steven D. Hovde are members and officers of the Investment Manager and Hovde Acquisition II, L.L.C. Eric D. Hovde and Steven D. Hovde each may be deemed to hold beneficial interests in the Shares through ownership of an interest in, and positions as officers and/or members of the Investment Manager and Hovde Acquisition II, L.L.C. Eric D. Hovde and Steven D. Hovde are also directors and executive officers of Hovde Financial, Inc. ("Hovde Financial"). Hovde Financial does not beneficially own any of the Shares. Attached as Schedule 1 hereto and incorporated by reference herein is a list containing the principal business and the address of its principal business and offices for Hovde Acquisition II, L.L.C., the Limited Partnership and the Investment Manager as well as information required by (a) through (f) of this Item as to each executive officer, director and/or controlling person of the Investment Manager who are Reporting Persons. The Investment Manager controls Financial Institution Partners III, L.P., the direct owner. None of the Reporting Persons or executive officers, directors or controlling persons of the Investment Manager have, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding of any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration Information regarding the source and amount of funds used by the Reporting Persons in acquiring beneficial ownership of their Shares is set forth in Schedule 2 attached hereto and incorporated herein by reference. Item 4. Purpose of Transaction On July 19, 2002, the Issuer announced that it completed a secondary offering of shares of common stock (the "Offering"). As part of the Offering, the Issuer issued 225,000 purchase warrants (the "Warrants") exercisable at $13.00 for one share of common stock until September 30, 2004 (the "Expiration Date"). Of the 225,000 Warrants issued, the Reporting Persons hold 36,000 Warrants. As of the time of this filing, the Reporting Persons have not exercised any Warrants. As of August 27, 2003, the stock price of the Issuer's common stock exceeded $13.00 per share thereby making the Warrants "in the money" (the "Trigger Event"). The Reporting Persons are making this filing in the event that the Warrants issued to the Reporting Persons, as a result of the Trigger Event, are deemed to constitute shares beneficially owned by the Reporting Persons and when viewed in conjunction with the Reporting Persons acquisition of Shares, amounts to a greater than one percent increase in the Reporting Persons' beneficial ownership of the Shares. Although the Reporting Persons' acquisition of Shares did not independently result in a "material change" as defined in 17 C.F.R. Section 240.13d-2(a), the Reporting Persons are filing this Schedule 13D/A in the event that the one percent increase in beneficial ownership as a result of the combination of the Reporting Persons' acquisitions and the holding of Warrants at the Trigger Event are deemed to constitute a material change. For purposes of this filing, the Reporting Persons have included the 225,000 Warrants in their determination of shares outstanding of the Issuer. The Reporting Persons have acquired the Shares for investment purposes and as set forth below: Each of the Reporting Persons may independently acquire additional Shares or dispose of some or all of its Shares. The Reporting Persons expect to evaluate on an ongoing basis their investment in the Issuer, and may independently from time to time acquire additional Shares, dispose of Shares or formulate other purposes, plans or proposals regarding the Issuer or the Shares held by the Reporting Persons in addition to those discussed above. Any such acquisitions or dispositions may be made, subject to applicable law, in open market or privately negotiated transactions or otherwise. Except as described above, neither the Reporting Persons nor, to the knowledge of the Reporting Persons, any of the persons named in Schedule 1 hereto have any plans or proposals which relate to or would result in any of the actions or transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D. Page 7 of 15 8 Item 5. Interest in Securities of the Issuer (a), (b) Schedule 3 hereto, which is incorporated by reference herein, sets forth, as of August 29, 2003, information relating to the aggregate number of Shares of the Issuer and the percentage of the outstanding Shares of the Issuer as of such date (based upon information provided by the Issuer, there are 1,692,066 Shares outstanding as of that date, which assumes all 225,000 Warrants are treated as outstanding) as to each of the Reporting Persons. With respect to the Shares set forth on Schedule 3, by virtue of its control over the Limited Partnership, all decisions regarding voting and disposition of the Shares beneficially owned by the Limited Partnership are made by Investment Manager, acting through its chief executive officer, president, or managing members. As such, the Limited Partnership and the Investment Manager share voting and investment power with respect to the Shares. Therefore, as a result of their ownership interest in, and positions as officers and/or managers of the Investment Manager, Eric D. Hovde and Steven D. Hovde may be deemed to have beneficial ownership of the Shares. Neither the Investment Manager, nor their executive officers, or controlling persons beneficially owns any Shares personally or otherwise. (c) Schedule 4 hereto, which is incorporated by reference herein, describes, as of August 29, 2003, transactions in the Shares effected during the past sixty (60) days. (d) None. (e) Not Applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. None. Page 8 of 15 9 Item 7. Materials to be filed as Exhibits Exhibit A - Consent Agreement pursuant to 17 C.F.R. 13d-1(k)(1)(iii) Exhibit B - Options Agreement between Morgan Stanley & Co. Incorporated and Financial Institution Partners III, L.P. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit C - Customer Prime Broker Agreement between Morgan Stanley Co. Incorporated and Financial Institution Partners III, L.P. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit D - Master Securities Loan Agreement between Morgan Stanley Co. Incorporated and Financial Institution Partners III, L.P. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit E - Account Control Agreement between Morgan Stanley Co. Incorporated and Financial Institution Partners III, L.P. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit F - Account Agreement between Banc of America Securities LLC and Hovde Acquisition II, L.L.C.(Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit G - Prime Broker Agreement between Banc of America Securities LLC and Hovde Acquisition II, L.L.C. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit H - Limited Liability Company Agreement between Banc of America Securities LLC and Hovde Acquisition II, L.L.C.(Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Signatures After reasonable inquiry and to the best of his/its knowledge and belief, each of the undersigned Reporting Persons certifies that the information set forth in this statement with respect to him/it is true, complete and correct. FINANCIAL INSTITUTION PARTNERS III, L.P., by its General Partner, HOVDE CAPITAL, LTD. By: /s/ Richard J. Perry, Jr. ------------------------------------------------- Richard J. Perry, Jr. Its: Secretary HOVDE ACQUISITION II, L.L.C. By: /s/ Richard J. Perry, Jr. --------------------------------------- Richard J. Perry, Jr. Its: Secretary HOVDE CAPITAL ADVISORS LLC By: /s/ Richard J. Perry, Jr. ------------------------------------------------- Richard J. Perry, Jr. Its: Secretary ERIC D. HOVDE /s/ Eric D. Hovde ------------------------------------------------- STEVEN D. HOVDE /s/ Steven D. Hovde ------------------------------------------------- Dated: 08/29/03 Page 9 of 15 10 Schedule 1 INFORMATION RELATING TO REPORTING PERSONS
Principal Business and Address of Principal Business Name or Principal Office - ---- ------------------------------ Financial Institution Limited partnership formed to Partners III, L.P. make investments primarily in equity securities of financial institutions and financial services companies. 1824 Jefferson Place, N.W. Washington, D.C. 20036 Organized: State of Delaware Hovde Acquisition II, L.L.C. Limited liability company formed to make investments primarily in equity securities of financial institutions and financial services companies. 1824 Jefferson Place, N.W. Washington, D.C. 20036 Organized: State of Nevada Hovde Capital Advisors LLC Limited liability company and registered investment adviser formed to serve as an investment manager. 1824 Jefferson Place, N.W. Washington, D.C. 20036 Organized: State of Delaware
INFORMATION RELATING TO EXECUTIVE OFFICERS, DIRECTORS AND/OR CONTROLLING PERSONS
NAME PRINCIPAL OCCUPATION ADDRESS BUSINESS ADDRESS CITIZENSHIP - ------- -------------------- ----------- Steven D. Hovde(4) Investment banker U.S. 1629 Colonial Parkway Hovde Financial, Inc. Inverness, Illinois 60067 1629 Colonial Parkway Inverness, Illinois 60067 Investment banking firm Eric D. Hovde (5) Portfolio Manager U.S. 1826 Jefferson Place, N.W. Hovde Capital Advisors LLC Washington, D.C. 20036 1824 Jefferson Place, N.W. Washington, D.C. 20036 Registered Investment Adviser
- ------------------------------------------------------------------------------- (4) Steven D. Hovde is affiliated with the following Reporting Persons: Chairman of Hovde Capital Advisors LLC Executive Vice President and Managing Member of Hovde Acquisition II, L.L.C. (5) Eric D. Hovde is affiliated with the following Reporting Persons: President, Chief Executive Officer and Managing Member of Hovde Capital Advisors LLC President and Managing Member of Hovde Acquisition II, L.L.C. Page 10 of 15 11 SCHEDULE 2 The following table sets forth the amount and source of funds used by each Reporting Person in acquiring the Shares beneficially owned by it.
Amount Originally Total Financed/ Source of Name Consideration Current Balance Funds - ------------------------------------------------------------------------------- Financial $ 804,025.00 $0 Working Capital Institution Partners III, L.P. Hovde Acquisition $ 392,804.58 $0 Working Capital II, L.L.C. Hovde Capital $ 804,025.00 $0 Working Capital Advisors LLC Of Affiliates Eric D. Hovde $ 1,196,829.58 $0 Working Capital Of Affiliates Steven D. Hovde $ 1,196,829.58 $0 Working Capital Of Affiliates
- ------------------------------------------------------------------------------- Page 11 of 15 12 SCHEDULE 3 The following table sets forth the number and approximate percentage of Shares beneficially owned by each of the Reporting Persons. Each of the Reporting Persons has shared power to vote or to direct the vote and to dispose or to direct the disposition of the Shares of which each of them, respectively, possesses beneficial ownership.
Approximate Name Number of Shares Percentage - ---- ---------------- ----------- Financial Institution 113,700 6.7% Partners III, L.P. Hovde Capital Advisors LLC 113,700 6.7% Hovde Acquisition II, L.L.C. 32,200 1.9% Eric D. Hovde 145,900 8.6% Steven D. Hovde 145,900 8.6% - ------------------------------------------------------------------------------- Aggregate Shares Held by 145,900 8.6% Reporting Persons
Page 12 of 15 13 SCHEDULE 4 Description of Transactions in Shares Effected Within 60 Days. The Reporting Persons have effected the following transactions in the Shares within sixty (60) days and all subsequent days up to August 29, 2003:
- ------------------------------------------------------------------------------- Transaction Number of Transaction Transaction Broker Date Shares Price Type - ------------------------------------------------------------------------------- Financial 08/15/03 600 $13.53 Buy REDI Institution Partners III, L.P. Financial 08/18/03 1,000 $13.38 Buy REDI Institution Partners III, L.P. Financial 08/20/03 100 $13.53 Buy REDI Institution Partners III, L.P. Financial 08/25/03 6,000 $13.529 Buy REDI Institution Partners III, L.P. - -------------------------------------------------------------------------------
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EXHIBIT INDEX Page Exhibit A - Consent Agreement to 17 C.F.R. 13d-1(k)(1)(iii) 15 Exhibit B - Options Agreement between Morgan Stanley & Co. Incorporated and Financial Institution Partners III, L.P. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit C - Customer Prime Broker Agreement between Morgan Stanley Co. Incorporated and Financial Institution Partners III, L.P. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit D - Master Securities Loan Agreement between Morgan Stanley Co. Incorporated and Financial Institution Partners III, L.P. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit E - Account Control Agreement between Morgan Stanley Co. Incorporated and Financial Institution Partners III, L.P. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit F - Account Agreement between Banc of America Securities LLC and Hovde Acquisition II, L.L.C. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit G - Prime Broker Agreement between Banc of America Securities LLC and Hovde Acquisition II, L.L.C. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003) Exhibit H - Limited Liability Company Agreement between Banc of America Securities LLC and Hovde Acquisition II, L.L.C. (Incorporated by reference to Schedule 13D filed with the SEC on June 9, 2003)
- ------------------------------------------------------------------------------- Page 14 of 15 15 EXHIBIT A Consent Agreement Pursuant to 17 C.F.R. 13d-1(k)(1)(iii) Each of the undersigned hereby consents and agrees to the filing on behalf of each of them of the foregoing joint statement on Schedule 13D pursuant to 17 C.F.R. 13d-1(k)(1)(iii) with respect to his/its beneficial ownership of the shares of the Issuer. FINANCIAL INSTITUTION PARTNERS III, L.P., by its General Partner, HOVDE CAPITAL, LTD. By: /s/ Richard J. Perry, Jr. ------------------------------------------------- Richard J. Perry, Jr. Its: Secretary HOVDE ACQUISITION II, L.L.C. By: /s/ Richard J. Perry, Jr. --------------------------------------- Richard J. Perry, Jr. Its: Secretary HOVDE CAPITAL ADVISORS LLC By: /s/ Richard J. Perry, Jr. ------------------------------------------------- Richard J. Perry, Jr. Its: Secretary ERIC D. HOVDE /s/ Eric D. Hovde ------------------------------------------------- STEVEN D. HOVDE /s/ Steven D. Hovde ------------------------------------------------- Dated: 08/29/03 Page 15 of 15 -----END PRIVACY-ENHANCED MESSAGE-----