-----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, HBxyEfR5WHlbEurgld3H0fdvOIiehw5oLYVz4H6p234luPC/g3KyJgKoIW2+XJwG F4LhMWHL/chdX+hfPPCmrQ== 0000899078-03-000422.txt : 20030804 0000899078-03-000422.hdr.sgml : 20030804 20030804153237 ACCESSION NUMBER: 0000899078-03-000422 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030731 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MATRIX BANCORP INC CENTRAL INDEX KEY: 0000944725 STANDARD INDUSTRIAL CLASSIFICATION: MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162] IRS NUMBER: 841233716 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21231 FILM NUMBER: 03820575 MAIL ADDRESS: STREET 1: 700 17TH STREET STREET 2: SUITE 2100 CITY: DENVER STATE: CO ZIP: 80202 FORMER COMPANY: FORMER CONFORMED NAME: MATRIX CAPITAL CORP /CO/ DATE OF NAME CHANGE: 19960711 8-K 1 july182003-8k.txt 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 (or Date of Earliest Event Reported): July 31, 2003 MATRIX BANCORP, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Colorado 0-21231 84-1233716 (State or other jurisdiction of (Commission File Number) (IRS Employer incorporation or organization) Identification No.) 700 Seventeenth Street, Suite 2100 80202 Denver, Colorado - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (303) 595-9898. ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE. ----------------------------------------- On August 1, 2003, Matrix Bancorp, Inc. reported that the jury verdict rendered in the spring of 2000 against its subsidiary, Sterling Trust Company, was affirmed and reversed in part by the Court of Appeals for the Second District of Texas (Forth Worth). The Court of Appeals affirmed the jury's award for actual damages of approximately $6.2 million (plus post-judgment interest and attorney fees currently estimated to be approximately $2.3 million). Sterling Trust continues to believe that it has meritorious points of appeal and intends to vigorously appeal this decision to the Supreme Court of Texas. The Company's press release is attached as Exhibit 99.1. Forward-Looking Statements Certain statements contained in this Form 8-K that are not historical facts, including, but not limited to, statements that can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "predict," "plan," "estimate" or "continue" or the negative thereof or other variations thereon or comparable terminology are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. The actual results of future events described in such forward-looking statements in this report could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: third party claims or actions in relation to the ongoing or future bankruptcies filed by clients or customers; interest rate fluctuations; level of delinquencies; defaults and prepayments; general economic conditions; the occurrence of acts of terrorism, such as the events of September 11, 2001, or acts of war; competition; government regulation; possible future litigation; the actions or inactions of third parties; and other risks set forth in our periodic reports, filings and other public statements, including the Company's current report on Form 8-K filed with the Securities and Exchange Commission on March 14, 2001. Readers should not place undue expectations on any forward-looking statements. We are not promising to make any public announcement when we consider forward-looking statements in this document to be no longer accurate, whether a result of new information, what actually happens in the future or for any other reason. 2 ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. --------------------------------- 99.1 Press Release, dated August 1, 2003, reporting the Court of Appeals decision. 3 SIGNATURE 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, thereunto duly authorized. Dated: August 1, 2003 MATRIX BANCORP, INC. By: /s/ Allen McConnell --------------------------------------- Name: Allen McConnell ------------------------------------- Title: Senior Vice President ------------------------------------ 4 EXHIBIT INDEX Exhibit No. Description 99.1 Press Release, dated August 1, 2003, reporting the Court of Appeals decision. 5 EX-99.1 3 ex99tojul182003-8k.txt Exhibit 99.1 For more information, please contact: MATRIX David W. Kloos BANCORP Chief Financial Officer (303) 595-9898 JUDGMENT AGAINST STERLING TRUST COMPANY AFFIRMED AND REVERSED IN PART August 1, 2003 Denver, Colorado -- Matrix Bancorp, Inc. (NASDAQ: MTXC) (the "Company") today reported that the jury verdict rendered in the spring of 2000 against its subsidiary, Sterling Trust Company, was affirmed and reversed in part by the Court of Appeals for the Second District of Texas (Forth Worth). As previously disclosed, Sterling Trust was named a defendant in an action filed in July 1999 alleging breach of fiduciary duty and securities fraud. The action was tried before a jury that returned a verdict adverse to Sterling Trust with respect to two of 12 theories of liability. Sterling Trust appealed this verdict. On July 31, 2003, the Court of Appeals affirmed the jury's award for actual damages of approximately $6.2 million (plus post-judgment interest and attorney fees currently estimated to be approximately $2.3 million) but denied the punitive award of approximately $250,000. Sterling Trust continues to believe that it has meritorious points of appeal and intends to vigorously appeal this decision to the Supreme Court of Texas. Forward-Looking Statements Certain statements contained in this press release that are not historical facts, including, but not limited to, statements that can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "predict," "believe," "plan," "estimate" or "continue" or the negative thereof or other variations thereon or comparable terminology, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements in this press release could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: third party claims or actions in relation to the ongoing or future bankruptcies of the Company's customers; interest rate fluctuations; level of delinquencies; defaults and prepayments; general economic conditions; competition; government regulation; possible future litigation; the actions or inactions of third parties, including failure of the Buyer to perform its obligations under the purchase agreement relating to the sale of the wholesale production platform, and actions or inactions of those that are parties to the existing or future bankruptcies of the Company's customers or litigation related thereto; unanticipated developments in connection with the bankruptcy actions or litigation described above, including judicial variation from existing legal precedent and the decision by one or more parties to appeal decisions rendered; the risks and uncertainties discussed elsewhere in this annual report and in the Company's current report on Form 8-K, filed with the Securities and Exchange Commission on March 14, 2001; and the uncertainties set forth from time to time in the Company's periodic reports, filings and other public statements. -----END PRIVACY-ENHANCED MESSAGE-----