-----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, JaDv5MPsrzwfWc5kciisgubcYlOkMKU/Bjs32Jp5udGv5T+SPl4mfYdpxziazIGK 4dUuHsR1V7gIzSC47VMqug== 0000933769-99-000003.txt : 19990309 0000933769-99-000003.hdr.sgml : 19990309 ACCESSION NUMBER: 0000933769-99-000003 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990308 GROUP MEMBERS: FINANCIAL INSTITUTION PARTNERS I L P GROUP MEMBERS: HOVDE CAPITAL, INC. GROUP MEMBERS: STEVEN D. HOVDE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AVONDALE FINANCIAL CORP CENTRAL INDEX KEY: 0000908143 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 363895923 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-45115 FILM NUMBER: 99559846 BUSINESS ADDRESS: STREET 1: 20 N CLARK ST CITY: CHICAGO STATE: IL ZIP: 60602 BUSINESS PHONE: 3127826200 MAIL ADDRESS: STREET 1: 20 NORTH CLARK STREET CITY: CHICAGO STATE: IL ZIP: 60602 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FINANCIAL INSTITUTION PARTNERS I L P CENTRAL INDEX KEY: 0001046115 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1629 COLONIAL PARKWAY CITY: INVERNESS STATE: IL ZIP: 60067 BUSINESS PHONE: 8479916622 SC 13D/A 1 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 SCHEDULE 13D UNDER THE EXCHANGE ACT OF 1934 (Amendment No. 4 ) --- MB FINANCIAL, INC. -------------------- (Name of Issuer) COMMON STOCK ------------- (Title and Class of Securities) 55263D107 --------- (CUSIP Number) Richard J. Perry, Jr., Esquire Perry & Bagheri, 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) February 26, 1999 ----------------- (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 [ ]. Check the following box if a fee is being paid with the statement [ ]. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Page 1 of 15 Pages Exhibit Index at page 14 2
- ------------------------------------------------------------------------------- CUSIP NUMBER 55263D107 Page 2 of 15 Pages --- ---- - ------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF ABOVE PERSON Financial Institution Partners, L.P. / 52-1899611 - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) - ------------------------------------------------------------------------------- 3. SOURCE OF FUNDS WC OO - ------------------------------------------------------------------------------- 4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) NO - ------------------------------------------------------------------------------- 5. CITIZENSHIP OR PLACE OF ORIGIN Organized: State of Delaware - ------------------------------------------------------------------------------- NUMBER OF 6. SOLE VOTING POWER SHARES OWNED BY EACH ---------------------------------------------------------------- REPORTING 7. SHARED VOTING POWER PERSON WITH 264,338 SHARES ---------------------------------------------------------------- 8. SOLE DISPOSITIVE POWER ---------------------------------------------------------------- 9. SHARED DISPOSITIVE POWER 264,338 SHARES - ------------------------------------------------------------------------------- 10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 264,338 - ------------------------------------------------------------------------------- 11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES? NO - ------------------------------------------------------------------------------- 12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10) 3.8% - ------------------------------------------------------------------------------- 13. TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------
Page 2 of 15 Pages 3
- ------------------------------------------------------------------------------- CUSIP NUMBER 55263D107 Page 3 of 15 Pages --- ---- - ------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF ABOVE PERSON Hovde Capital, Inc. / 52-1891904 - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) - ------------------------------------------------------------------------------- 3. SOURCE OF FUNDS AF - ------------------------------------------------------------------------------- 4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) NO - ------------------------------------------------------------------------------- 5. CITIZENSHIP OR PLACE OF ORIGIN Incorporated: State of Delaware - ------------------------------------------------------------------------------- NUMBER OF 6. SOLE VOTING POWER SHARES OWNED BY EACH ---------------------------------------------------------------- REPORTING 7. SHARED VOTING POWER PERSON WITH 264,338 SHARES ---------------------------------------------------------------- 8. SOLE DISPOSITIVE POWER ---------------------------------------------------------------- 9. SHARED DISPOSITIVE POWER 264,338 SHARES - ------------------------------------------------------------------------------- 10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 264,338 SHARES - ------------------------------------------------------------------------------- 11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES? NO - ------------------------------------------------------------------------------- 12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10) 3.8% - ------------------------------------------------------------------------------- 13. TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------
Page 3 of 15 Pages 4
- ------------------------------------------------------------------------------- CUSIP NUMBER 55263D107 Page 4 of 15 Pages --- ---- - ------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON / S.S. OR I.R.S. IDENTIFICATION OF ABOVE PERSON Steven D. Hovde/ ###-##-#### - ------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) - ------------------------------------------------------------------------------- 3. SOURCE OF FUNDS PF OO - ------------------------------------------------------------------------------- 4. IS DISCLOSURE OF LEGAL PROCEEDING REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) NO - ------------------------------------------------------------------------------- 5. CITIZENSHIP OR PLACE OF ORIGIN U.S. - ------------------------------------------------------------------------------- NUMBER OF 6. SOLE VOTING POWER SHARES OWNED BY 18,400 EACH ---------------------------------------------------------------- REPORTING 7. SHARED VOTING POWER PERSON WITH(1) 264,338 SHARES ---------------------------------------------------------------- 8. SOLE DISPOSITIVE POWER 18,400 ---------------------------------------------------------------- 9. SHARED DISPOSITIVE POWER 264,338 SHARES - ------------------------------------------------------------------------------- 10. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 282,738 SHARES - ------------------------------------------------------------------------------- 11. DOES THE AGGREGATE AMOUNT IN BOX 10 EXCLUDE CERTAIN SHARES? NO - ------------------------------------------------------------------------------- 12. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10) 4.1% - ------------------------------------------------------------------------------- 13. TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------
(1) Of the 282,738 Shares beneficially owned by Steven D. Hovde, 264,338 of the Shares beneficially owned are as controlling shareholder/director of Hovde Capital, Inc. and 18,400 of the Shares beneficially owned are held directly. Page 4 of 15 5 Item 1. Security and Issuer The class of security to which this statement relates is the common stock (the "Shares"), of MB Financial, Inc., formerly Avondale Financial Corp. (the "Issuer"). The address of the principal executive offices of the Issuer is 1200 North Ashland Avenue, Chicago, Illinois 60622. Item 2. Identity and Background The persons filing this statement are Financial Institution Partners, L.P. (the "Limited Partnership"), Hovde Capital, Inc., 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. Hovde Capital, Inc., a Delaware corporation, is the general partner (the "General Partner") of the Limited Partnership. Steven D. Hovde is a controlling shareholders of Hovde Capital, Inc. 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 office for the Limited Partnership and the General Partner as well as information required by (a) through (f) of this Item as to each executive officer, director and/or controlling person of the General Partner who are Reporting Persons. The General Partner controls the Limited Partnership. None of the Reporting Persons or executive officers, directors or controlling persons of the General Partner has, 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. The Reporting Persons do not believe that they constitute a "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended. Nevertheless, the Reporting Persons are making this filing because of the possibility that they may be deemed a group, although each of the Reporting Persons disclaims any membership in, and the existence of, such a group. Neither the making of this filing nor any statement contained herein shall be deemed to be an admission by any of the Reporting Persons that a group exists. Page 5 of 15 6 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 The Reporting Persons have acquired the Shares for investment purposes and as set forth below: (a) Each of the Reporting Persons may independently acquire additional Shares or dispose of some or all of its Shares. (b) None. (c) None. (d) None. (e) None. (f) None. (g) None. (h) None. (i) None. (j) None. Item 5. Interest in Securities of the Issuer (a), (b) Schedule 3 hereto, which is incorporated by reference herein, sets forth, as of March 4, 1999, 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 6,986,172 Shares outstanding as of that date) 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 the General Partner acting through its chief executive officer or president. As such, the Limited Partnership and the General Partner share voting and investment power with respect to the Shares. Neither the General Partner, its executive officers, directors or controlling persons beneficially Page 6 of 15 Pages 7 owns any Shares personally or otherwise, except for the Shares beneficially owned by Steven D. Hovde. (c) Schedule 4 hereto, which is incorporated by reference herein, describes, as of March 4, 1999, transactions in the Shares effected during the past sixty (60) days by the Reporting Persons. (d) None. (e) The Reporting Persons ceased beneficial ownership of more than five percent of the Shares on February 26, 1999. Each of the Reporting Persons disclaims beneficial ownership of Shares beneficially owned by any of the other Reporting Persons. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer None. Item 7. Materials to be filed as Exhibits Exhibit A - Consent Agreement pursuant to 17 C.F.R. 13d-1(f)(1) Exhibit B - [OMITTED - - FILED PURSUANT TO REQUEST FOR CONFIDENTIAL TREATMENT (Incorporated by reference to Amendment No. 1, filed with the Securities and Exchange Commission (the "Commission") on November 30, 1998)] Exhibit C - Customer Agreement between NationsBanc Montgomery Securities and Financial Institution Partners, L.P. (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Exhibit D - Prime Broker Agreement between NationsBanc Montgomery Securities and Financial Institution Partners, L.P. (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Exhibit E - Partnership Agreement between NationsBanc Montgomery Securities and Financial Institution Partners, L.P. (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Exhibit F - Customer Agreement between NationsBanc Montgomery Securities and Steven D. Hovde. (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Exhibit G - Prime Broker Agreement between NationsBanc Montgomery Securities and Steven D. Hovde. (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Page 7 of 15 8 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, L.P., by its General Partner, HOVDE CAPITAL, INC. By: /s/ Eric D. Hovde ------------------------------------------------- Eric D. Hovde Its: President HOVDE CAPITAL, INC. By: /s/ Eric D. Hovde ------------------------------------------------- Eric D. Hovde Its: President STEVEN D. HOVDE /s/ Steven D. Hovde ------------------------------------------------- Dated: 3/4/99 ---------- Page 8 of 15 9 Schedule 1 INFORMATION RELATING TO REPORTING PERSONS
Principal Business and Address of Principal Business Name or Principal Office ---- ------------------------------ Financial Institution Partners, L.P. Limited partnership formed to make investments primarily in equity securities of financial institutions. 1629 Colonial Parkway Inverness, Illinois 60067 Organized: State of Delaware Hovde Capital, Inc. Corporation formed to serve as the general partner of Financial Institution Partners, L.P. 1629 Colonial Parkway Inverness, Illinois 60067 Incorporated: State of Delaware Steven D. Hovde Investment banker Hovde Financial, Inc. 1629 Colonial Parkway Inverness, Illinois 60067
Page 9 of 15 10 INFORMATION RELATING TO EXECUTIVE OFFICERS, DIRECTORS AND/OR CONTROLLING PERSONS
NAME PRINCIPAL OCCUPATION ADDRESS BUSINESS ADDRESS CITIZENSHIP - ------- -------------------- ----------- Steven D. Hovde(2) 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 (3) Investment banker U.S. 1826 Jefferson Place, N.W. Hovde Financial, Inc. Washington, D.C. 20036 1826 Jefferson Place, N.W. Washington, D.C. 20036 Investment banking firm
(2) Steven D. Hovde is affiliated with the following Reporting Persons: Chairman, CEO of Hovde Capital, Inc. (3) Eric D. Hovde is affiliated with the following Reporting Persons: President of Hovde Capital, Inc. 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 $3,562,947.19 $1,247,031.52/ Working Capital/ Institution $2,315,915.67 Margin Account* Partners, L.P. Hovde Capital, $3,562,947.19 $1,247,031.52/ Working Capital/ Inc. $2,315,915.67 Margin Account of Affiliate* Steven D. Hovde $287,500.00 $100,625.00/ Working Capital/ $186,875.00 Margin Account **
- ----------------------------------------------------- * $2,315,915.67 was financed through a margin account with NationsBanc Montgomery Securities at Federal Funds rate +5/8. ** $186,875.00 was financed through a margin account with NationsBanc Montgomery Securities at Federal Funds rate +5/8. 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 264,338 3.8% Partners, L.P. Hovde Capital, Inc. 264,338 3.8% Steven D. Hovde 18,400 0.3% - ------------------------------------------------------------------------------- Aggregate Shares Held by 282,738 4.1% Reporting Persons
Page 12 of 15 13 SCHEDULE 4 Description of Transactions in Shares Effected Within 60 Days. The Reporting Persons had effected the following transactions in the Shares within sixty (60) days of March 4, 1999:
- ------------------------------------------------------------------------------- Transaction Number of Transaction Transaction Broker Date Shares Price Type - ------------------------------------------------------------------------------- Financial 2/16/99 39,032 $14.50 Sell ABN Amro Institution Partners, 2/12/99 700 $14.50 Sell Bloomberg L.P. Tradebook - ------------------------------------------------------------------------------- Eric D. 2/16/99 7,500 $14.50 Sell ABN Amro Hovde - ------------------------------------------------------------------------------- Page 13 of 15 14 EXHIBIT INDEX
Page Exhibit A- Consent Agreement to 17 C.F.R. 13d-1(f)(1) 15 Exhibit B - [OMITTED - - FILED PURSUANT TO REQUEST FOR CONFIDENTIAL TREATMENT] (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998)](4) Exhibit C - Customer Agreement between NationsBanc Montgomery Securities and Financial Institution Partners, L.P. (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Exhibit D - Prime Broker Agreement between NationsBanc Montgomery Securities and Financial Institution Partners, L.P. (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Exhibit E - Partnership Agreement between NationsBanc Montgomery Securities and Financial Institution Partners, L.P. (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Exhibit F - Customer Agreement between NationsBanc Montgomery Securities and Steven D. Hovde (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998) Exhibit G - Prime Broker Agreement between NationsBanc Montgomery Securities and Steven D. Hovde (Incorporated by reference to Amendment No. 1, filed with the Commission on November 30, 1998)
- ------------------------------------------ (4) Portions of Exhibit 5 have been omitted pursuant to a request for confidential treatment of information in accordance with Rule 24b-2 of the Securities and Exchange Act of 1934. Page 14 of 15 15 EXHIBIT A Consent Agreement Pursuant to 17 C.F.R. 13d-1(f)(1) 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(f)(1) with respect to his/its beneficial ownership of the shares of the Issuer. FINANCIAL INSTITUTION PARTNERS, L.P., by its General Partner, HOVDE CAPITAL, INC. By: /s/ Eric D. Hovde ------------------------------------------------- Eric D. Hovde Its: President HOVDE CAPITAL, INC. By: /s/ Eric D. Hovde ------------------------------------------------- Eric D. Hovde Its: President STEVEN D. HOVDE /s/ Steven D. Hovde ------------------------------------------------- Dated: 3/4/99 ------ Page 15 of 15 -----END PRIVACY-ENHANCED MESSAGE-----