-----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, B6dVeUs/GvOdMrvDxhI3zCjetrVGn4dOn/Cbb0dfe0C4JLKyZIVCHNksKVcoPzv9 F3Z6k3O13jc4ALvz37LuDg== 0000909012-02-000573.txt : 20020806 0000909012-02-000573.hdr.sgml : 20020806 20020806101042 ACCESSION NUMBER: 0000909012-02-000573 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020806 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PROGRESS FINANCIAL CORP CENTRAL INDEX KEY: 0000790183 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 232413363 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-37658 FILM NUMBER: 02720216 BUSINESS ADDRESS: STREET 1: 4 SENTRY PARKWAY SUITE 200 CITY: BLUE BELL STATE: PA ZIP: 19422-0764 BUSINESS PHONE: 6108258800 MAIL ADDRESS: STREET 1: 4 SENTRY PARKWAY STREET 2: SUITE 200 CITY: BLUE BELL STATE: PA ZIP: 19422-0764 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: EMERALD ADVISERS INC/PA CENTRAL INDEX KEY: 0001015083 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 1857 WILLIAM PENN WAY STREET 2: SUITE 203 CITY: LANCASTER STATE: PA ZIP: 17601 BUSINESS PHONE: 7173961116 SC 13G 1 t24493.txt SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 5)* PROGRESS FINANCIAL CORPORATION (Name of Issuer) COMMON STOCK, PAR VALUE $1.00 - ------------------------------------------------------------------------------ (Title of Class of Securities) 743266108 ---------------------- (CUSIP Number) JULY 31, 2002 (Date of Event Which Requires Filing of this Statement) - ------------------------------------------------------------------------------ Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ X ] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *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). SCHEDULE 13G CUSIP No. 743266108 Page 2 of 4 Pages - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Emerald Advisers, Inc. - ----------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) ______ (b) ______ - ----------------------------------------------------------------------------- 3 SEC USE ONLY - ----------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Pennsylvania - ----------------------------------------------------------------------------- 5 SOLE VOTING POWER 241,710 shares NUMBER OF SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 0 shares EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 391,431 shares WITH 8 SHARED DISPOSITIVE POWER 0 shares - ------------------------------------------------------------------------------ 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 391,431 shares - ------------------------------------------------------------------------------ 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) - ------------------------------------------------------------------------------ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.8% - ------------------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON (See Instructions) IA - -------------------------------------------------------------------------------- SCHEDULE 13G PAGE 3 OF 4 ITEM 1. (a) The name of the issuer is Progress Financial Corporation. (b) The address of the issuer's principal executive office is 4 Sentry Parkway, Suite 200, Blue Bell, PA 19422. ITEM 2. (a) The name of the person filing is Emerald Advisers, Inc. (b) The address of the principal office of the person filing is 1703 Oregon Pike, Suite 101, Lancaster, Pennsylvania 17601. (c) The state of organization is Pennsylvania. (d) The title of class of security is common stock, par value $1.00 per share. (e) The CUSIP number is 743266108. ITEM 3. The person filing is an Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940. ITEM 4. (a) The amount beneficially owned is 391,431 shares of common stock. (b) The percent of class is 5.8% based on 6,798,416 shares of common stock issued and outstanding as of April 30, 2002, as reported in the Issuer's Form 10-Q for the period ended March 31, 2002. (c)(i) The number of shares as to which Emerald Advisers, Inc. has sole voting power is 241,710. (c)(ii) The number of shares as to which Emerald Advisers, Inc. has shared voting power is 0. (c)(iii) The number of shares as to which Emerald Advisers, Inc. has sole dispositive power is 391,431. (c)(iv) The number of shares as to which Emerald Advisers, Inc. has shared dispositive power is 0. ITEM 5. This statement is NOT being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities. SCHEDULE 13G PAGE 4 OF 4 ITEM 6. Other persons have the right to receive and/or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities. ITEM 7. Not applicable. ITEM 8. Not applicable. ITEM 9. Not applicable. ITEM 10. By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE 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. AUGUST 1, 2002 ----------------------------------------- Date /S/ SCOTT L. REHR ----------------------------------------- Signature SCOTT L. REHR, EXECUTIVE VICE PRESIDENT ----------------------------------------- Name/Title -----END PRIVACY-ENHANCED MESSAGE-----