-----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, SAEGqpj8umpkhfFOmpF0cKQgv9W4GTA+xu6rDay8//kr4D0nAkEPJ6gzP2Hz/jQP d8VseshLVhPcLv14bl4UIw== 0000950152-08-000213.txt : 20080111 0000950152-08-000213.hdr.sgml : 20080111 20080111153726 ACCESSION NUMBER: 0000950152-08-000213 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20080111 DATE AS OF CHANGE: 20080111 GROUP MEMBERS: CCAG LIMITED PARTNERSHIP GROUP MEMBERS: MARK D. GROSSI GROUP MEMBERS: RICHARD M. OSBORNE GROUP MEMBERS: STEVEN A. CALABRESE GROUP MEMBERS: STEVEN A. CALABRESE PROFIT SHARING TRUST SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PVF CAPITAL CORP CENTRAL INDEX KEY: 0000928592 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 341659805 STATE OF INCORPORATION: OH FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-46740 FILM NUMBER: 08526160 BUSINESS ADDRESS: STREET 1: 30000 AURORA ROAD CITY: SOLON STATE: OH ZIP: 44139 BUSINESS PHONE: 4402487171 MAIL ADDRESS: STREET 1: 30000 AURORA ROAD CITY: SOLON STATE: OH ZIP: 44139 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AMG Investments No. 2 LLC CENTRAL INDEX KEY: 0001420528 IRS NUMBER: 000000000 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 8500 STATION STREET STREET 2: SUITE 113 CITY: MENTOR STATE: OH ZIP: 44060 BUSINESS PHONE: 440-951-1111 MAIL ADDRESS: STREET 1: 8500 STATION STREET STREET 2: SUITE 113 CITY: MENTOR STATE: OH ZIP: 44060 SC 13D/A 1 l29518asc13dza.htm PVF CAPITAL CORP. (AMG INVESTMENTS) SC 13D/A PVF CAPITAL CORP. (AMG INVESTMENTS) SC 13D/A
 

     
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 4 )*

PVF Capital Corp.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
693654 10 5
(CUSIP Number)
Marc C. Krantz, Kohrman Jackson & Krantz P.L.L., 1375 East 9th Street, 20th Floor, Cleveland, OH 44114, (216) 696-8700
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
January 4, 2008
(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. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 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).

 
 

Page 1 of 11 Pages

 

                     
CUSIP No.
  
693654 10 5 
   Page  
2 
   of   
11 

 

           
1   NAMES OF REPORTING PERSONS

AMG Investments No. 2 LLC
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Ohio
       
  7   SOLE VOTING POWER
     
NUMBER OF   467,150
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY  
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   467,150
       
WITH 10   SHARED DISPOSITIVE POWER
     
   
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  467,150
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  6.0%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO

 

                     
CUSIP No.
  
693654 10 5 
   Page  
3 
   of   
11 

 

           
1   NAMES OF REPORTING PERSONS

Richard M. Osborne
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States of America
       
  7   SOLE VOTING POWER
     
NUMBER OF  
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   467,150*
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON  
       
WITH 10   SHARED DISPOSITIVE POWER
     
    467,150*
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  467,150*
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  6.0%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
* Shares owned by AMG Investments No. 2 LLC.

 

                     
CUSIP No.
  
693654 10 5 
   Page  
4 
   of   
11 

 

           
1   NAMES OF REPORTING PERSONS

Steven A. Calabrese
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  OO
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States of America
       
  7   SOLE VOTING POWER
     
NUMBER OF   94,904(1)
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   490,830(2)
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   94,904(1)
       
WITH 10   SHARED DISPOSITIVE POWER
     
    490,830(2)
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  585,734(1)(2)
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  7.5%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
(1) Includes 44,783 shares owned by CCAG Limited Partnership and 33,942 shares owned by the Steven A. Calabrese Profit Sharing Trust.
(2) Includes 467,150 shares owned by AMG Investments No. 2 LLC, 12,930 shares owned by Mr. Calabrese’s minor children and 10,750 shares beneficially owned by Mr. Calabrese’s wife.

 

                     
CUSIP No.
  
693654 10 5 
   Page  
5 
   of   
11 

 

           
1   NAMES OF REPORTING PERSONS

CCAG Limited Partnership
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
 
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Ohio
       
  7   SOLE VOTING POWER
     
NUMBER OF   44,783
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY  
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   44,783
       
WITH 10   SHARED DISPOSITIVE POWER
     
   
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  44,783
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  0.6%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

 

                     
CUSIP No.
  
693654 10 5 
   Page  
6 
   of   
11 

 

           
1   NAMES OF REPORTING PERSONS

Steven A. Calabrese Profit Sharing Trust
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
 
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Ohio
       
  7   SOLE VOTING POWER
     
NUMBER OF   33,942
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY  
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   33,942
       
WITH 10   SHARED DISPOSITIVE POWER
     
   
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  33,942
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  0.4%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  EP

 

                     
CUSIP No.
  
693654 10 5 
   Page  
7 
   of   
11 

 

           
1   NAMES OF REPORTING PERSONS

Mark D. Grossi
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   þ 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  PF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States of America
       
  7   SOLE VOTING POWER
     
NUMBER OF   137,457
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY  
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   137,457
       
WITH 10   SHARED DISPOSITIVE POWER
     
   
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  137,457
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  1.8%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

 

                     
CUSIP No.
  
693654 10 5 
   Page  
8 
   of   
11 

Introduction.
     Pursuant to Rule 13d-1(k), this Amendment No. 4 to Schedule 13D is filed by AMG Investments No. 2 LLC (“AMG”), Richard M. Osborne, Steven A. Calabrese, CCAG Limited Partnership (“CCAG”), the Steven A. Calabrese Profit Sharing Trust (the Trust”) and Mark D. Grossi (collectively, the “Reporting Persons”) relating to shares of common stock, par value $0.01 per share (the “Shares”), of PVF Capital Corp. (the “Company”) which is the holding company for Park View Federal Savings Bank (“Park View”).
Item 3. Source and Amount of Funds or Other Consideration.
     Item 3 is amended and supplemented as follows:
     The Shares reported in Item 5(c) as having been acquired by AMG were acquired for the aggregate purchase price of approximately $1,111,580 (excluding commissions) with margin debt from Wachovia Securities. Interest on the margin debt is computed at a select rate above the rate banks charge securities brokers (“call money rate”) and is subject to change, without notice, if the call money rate changes. To the extent permitted by law, Wachovia has a lien on certain of the Shares reported herein as having been acquired by AMG.
Item 4. Purpose of Transaction.
     Item 4 is amended and supplemented as follows:
     On December 17, 2007, the Company and United Community Financial Corp. (“United Community”) announced that (1) the Office of Thrift Supervision had notified United Community that it had suspended processing the application for the approval of the proposed merger of the Company with and into United Community and the subsequent merger of Park View with United Community’s subsidiary, The Home Savings and Loan Company of Youngstown, Ohio and (2) they did not expect that the proposed merger could be completed before the end of the first quarter of 2008. Following the initial announcement of the proposed merger, the Reporting Persons had purchased the Shares as an investment because they believed that the market value of the Shares did not fully reflect the value proposed to be paid for the Company by United Community. Following the announcement of the delay in the closing of the proposed merger, the stock price of the Company, as well as United Community, fell significantly.
     The Reporting Persons believe that at current prices the shares of the Company are a good investment. The Reporting Persons may buy or sell Shares depending on whether the market under or overvalues the Company in light of the proposed merger and the possibility that it will not be consummated as a result of the announced delay.
     Mr. Osborne and Mr. Calabrese have spoken with management of the Company regarding the proposed merger with United Community and the need for the Company to make changes in the board and management in the event the proposed merger is not consummated. Mr. Osborne and Mr. Calabrese intend to continue to speak with management from time to time on these subjects and others affecting the Company and Park View.

 

 

                     
CUSIP No.
  
693654 10 5 
   Page  
9 
   of   
11 

Item 5. Interest in Securities of the Issuer.
     Items 5(a) and 5(c) are amended and supplemented as follows:
     (a) According to the most recently available filing with the Securities and Exchange Commission by the Company, there are 7,772,292 Shares outstanding.
     AMG beneficially owns 467,150 Shares, or 6.0% of the outstanding Shares. As managing members, each of Mr. Calabrese and Mr. Osborne may be deemed to beneficially own all Shares held by AMG. Mr. Osborne does not beneficially own any Shares other than as a managing member of AMG. Mr. Calabrese beneficially owns a total of 585,734 Shares, or 7.5% of the outstanding Shares, which includes 467,150 Shares owned by AMG, 16,179 Shares owned individually, 12,930 Shares owned by his minor children, 10,750 Shares owned by his wife, 44,783 Shares owned by CCAG and 33,942 Shares owned by the Trust. CCAG owns 44,783 Shares, or 0.6% of the outstanding Shares. The Trust owns 33,942 Shares, or 0.4% of the outstanding Shares. Mr. Grossi owns 137,457 Shares, or 1.8% of the outstanding Shares.
     Mr. Osborne and Mr. Calabrese determined to purchase and sell the Shares reported in Item 5(c) as having been acquired by AMG.
     (c) Since the filing of Amendment No. 3 to Schedule 13D on December 14, 2007, AMG purchased 99,773 Shares in open market transactions as set forth below:
                 
            Approximate Per Share Price
Date   Number of Shares   (Excluding Commissions)
12/17/2007
     2,000     $ 10.76  
12/17/2007
     2,498     $ 10.70  
12/17/2007
     300     $ 10.84  
12/17/2007
     100     $ 11.19  
12/17/2007
     100     $ 11.32  
12/17/2007
     1,200     $ 11.46  
12/17/2007
     1,100     $ 11.57  
12/17/2007
     1000     $ 11.64  
12/17/2007
     700     $ 11.62  
12/17/2007
     200     $ 11.70  
12/17/2007
     1,240     $ 11.90  
12/17/2007
     700     $ 11.87  
12/17/2007
     1,960     $ 11.93  
12/17/2007
     100     $ 11.92  
12/17/2007
     3,500     $ 12.00  
12/17/2007
     200     $ 11.99  
12/17/2007
     100     $ 11.94  
12/17/2007
     100     $ 11.96  
12/18/2007
     39,303     $ 12.00  
12/31/2007
     5000     $ 11.15  

 

 

                     
CUSIP No.
  
693654 10 5 
   Page  
10 
   of   
11 

                 
            Approximate Per Share Price
Date   Number of Shares   (Excluding Commissions)
1/02/2008
     1000     $ 10.98  
1/02/2008
     1000     $ 11.00  
1/03/2008
     303     $ 10.75  
1/03/2008
     1,100     $ 10.80  
1/03/2008
     900     $ 10.78  
1/04/2008
     400     $ 10.50  
1/04/2008
     100     $ 9.73  
1/04/2008
     1,400     $ 9.97  
1/04/2008
     1,500     $ 9.96  
1/04/2008
     4,800     $ 9.90  
1/04/2008
     400     $ 9.81  
1/04/2008
     1,100     $ 9.87  
1/04/2008
     74     $ 9.88  
1/04/2008
     926     $ 9.89  
1/04/2008
     1,500     $ 9.85  
1/04/2008
     1,092     $ 9.82  
1/07/2008
     400     $ 9.89  
1/07/2008
     899     $ 9.90  
1/07/2008
     200     $ 9.80  
1/07/2008
     3,201     $ 9.91  
1/07/2008
     3,544     $ 9.98  
1/08/2008
     1,100     $ 10.30  
1/08/2008
     2,000     $ 10.25  
1/08/2008
     2,000     $ 10.10  
1/09/2008
     2,000     $ 9.95  
1/09/2008
     200     $ 9.90  
1/09/2008
     1,800     $ 9.97  
1/10/2008
     1,800     $ 10.25  
1/10/2008
     1,600     $ 10.19  
1/10/2008
     33     $ 10.15  
Item 7. Material to be Filed as Exhibits.
     7.1 Joint Filing Agreement

 

 

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.
Date: January 11, 2008
         
  AMG Investments No. 2 LLC
 		  
  /s/ Richard M. Osborne    
  Richard M. Osborne, a managing member   
         
     
  /s/ Richard M. Osborne    
  Richard M. Osborne, individually   
         
     
  /s/ Steven A. Calabrese    
  Steven A. Calabrese, individually   
         
 
  Steven A. Calabrese Profit Sharing Trust
 		  
  /s/ Steven A. Calabrese    
  By: Steven A. Calabrese, co-trustee   
 
CCAG Limited Partnership
      By: TGF, Inc., its general partner
         
     
  /s/ Steven A. Calabrese    
         
     
  /s/ Mark D. Grossi    
  Mark D. Grossi, Individually   
     
 

Page 11 of 11 Pages

 

EXHIBIT INDEX
     
Exhibit Number   Description
 
    
7.1
  Joint Filing Agreement

 

EX-7.1 2 l29518aexv7w1.htm EX-7.1 EX-7.1
 

EXHIBIT 7.1
AGREEMENT OF JOINT FILING
     Pursuant to Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned persons hereby agree to file with the Securities and Exchange Commission, the Statement on Schedule 13D (the “Statement”) to which this Agreement is attached as an exhibit, and agree that such Statement, as so filed, is filed on behalf of each of them.
     This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original, and all of which together shall be deemed to constitute one and the same instrument.
     IN WITNESS WHEREOF, the undersigned have executed this Agreement.
Date: January 11, 2008
         
  AMG Investments No. 2 LLC
 		  
  /s/ Richard M. Osborne    
  Richard M. Osborne, a managing member   
         
     
  /s/ Richard M. Osborne    
  Richard M. Osborne, individually   
         
     
  /s/ Steven A. Calabrese    
  Steven A. Calabrese, individually   
         
 
  Steven A. Calabrese Profit Sharing Trust
 		  
  /s/ Steven A. Calabrese    
  By: Steven A. Calabrese, co-trustee   
     
CCAG Limited Partnership
      By: TGF, Inc., its general partner
         
  /s/ Steven A. Calabrese    
  By: Steven A. Calabrese, President   
         
     
  /s/ Mark D. Grossi    
  Mark D. Grossi, Individually   
     
 

 

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