SCHEDULE 13D/A
(Rule 13d-101)
Information to be Included in Statements Filed Pursuant to Rule 13d-1(a)
and Amendments Thereto Filed Pursuant to Rule 13d-2(a)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
WFS FINANCIAL INC
--------------------------------------------------------
(Name of Issuer)
Common Stock, without par value
--------------------------------------------------------
(Title of Class of Securities)
92923B
--------------------------------------------------------
(CUSIP Number)
ERNEST S. RADY
Chairman of the Board
WFS Financial Inc
23 Pasteur Road
Irvine, CA 92718-3804
--------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 23, 2004
--------------------------------------------------------
(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(e)(f) or (g), 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.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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).
CUSIP No. 92923B 13D Page 2 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTCORP
IRS ID No. 51-0308535
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
HC
==============================================================================
CUSIP No. 92923B 13D Page 3 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN FINANCIAL BANK
IRS ID No. 94-2504080
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
PRINCIPAL PLACE OF BUSINESS: CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
BK
==============================================================================
CUSIP No. 92923B 13D Page 4 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ERNEST S. RADY AND ERNEST S. RADY TRUST
Social Security No. 545-90-0349
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
OO + IN
==============================================================================
CUSIP No. 92923B 13D Page 5 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EVELYN SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
Social Security No. 556-88-8894
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
OO + IN
==============================================================================
CUSIP No. 92923B 13D Page 6 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AVRETT ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
CO
==============================================================================
CUSIP No. 92923B 13D Page 7 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SILPIT INDUSTRIES CO., LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
CO
==============================================================================
CUSIP No. 92923B 13D Page 8 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MEMRAD HOLDINGS, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
CO
==============================================================================
CUSIP No. 92923B 13D Page 9 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AMERICAN ASSETS, INC.
I.R.S. ID NO. 95-249-3347
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
CO
==============================================================================
CUSIP No. 92923B 13D Page 10 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CANPAC ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
CO
==============================================================================
CUSIP No. 92923B 13D Page 11 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN INSURANCE HOLDINGS, INC.
I.R.S. ID NO. 95-2890041
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
IC
==============================================================================
CUSIP No. 92923B 13D Page 12 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INSURANCE COMPANY OF THE WEST
I.R.S. ID NO. 95-2769232
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
IC
==============================================================================
CUSIP No. 92923B 13D Page 13 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EXPLORER INSURANCE COMPANY
I.R.S. ID NO. 94-2784519
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
ARIZONA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
IC
==============================================================================
CUSIP No. 92923B 13D Page 14 of 30 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DHM Trust
I.R.S. ID NO. 33-6003176
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS (See Instructions)
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (See Instructions) [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 84.03% (based on 41,035,969 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON (See Instructions)
OO
==============================================================================
Item 1. Security and Issuer.
Common Stock, no par value
WFS FINANCIAL INC
23 Pasteur Road
Irvine, CA 92718-3804
Item 2. Identity and Background.
WESTCORP
(a) Westcorp
(b) The principal business address is:
23 Pasteur
Irvine, CA 92618
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) United States Corporation.
WESTERN FINANCIAL BANK
(a) Western Financial Bank
(b) The principal business address is:
15750 Alton Parkway
Irvine, CA 92618
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) United States Corporation.
ERNEST S. RADY AND ERNEST S. RADY TRUST
(a) Ernest S. Rady and Ernest S. Rady, Trustee
Mr. Rady's address is:
8144 Prestwick Drive
La Jolla, CA 92037
(b) The Trust's principal business address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman,
President and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None.
(f) Citizenship: USA
EVELYN SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
(a) Evelyn Shirley Rady and Ernest S. Rady, Trustee
Mrs. Rady's address is:
8144 Prestwick Drive
La Jolla, CA 92037
(b) The Trust's principal business address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman,
President and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: USA
Page 15 of 30 Pages
AVRETT ENTERPRISES, LTD.
(a) Avrett Enterprises, Ltd.
(b) The principal business address is:
Avrett Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current conviction during the last five years: None
(d) Securities laws proceedings: None
(e) Canadian corporation.
SILPIT INDUSTRIES CO., LTD.
(a) Silpit Industries Co., Ltd.
(b) The principal business address is:
Silpit Industries Co., Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
MEMRAD HOLDINGS, LTD.
(a) Memrad Holdings, Ltd.
(b) The principal business address is:
Memrad Holdings, Ltd.
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
AMERICAN ASSETS, INC.
(a) American Assets, Inc.
(b) The principal business address is:
American Assets, Inc.
11455 El Camino Real
San Diego, California 92130-2045
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
Page 16 of 30 Pages
CANPAC ENTERPRISES, LTD.
(a) Canpac Enterprises, Ltd.
(b) The principal business address is:
Canpac Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
WESTERN INSURANCE HOLDINGS, INC.
(a) Western Insurance Holdings, Inc.
(b) The principal business address is:
Western Insurance Holdings, Inc.
11455 El Camino Real
San Diego, California 92130-2045
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
INSURANCE COMPANY OF THE WEST
(a) Insurance Company of the West
(b) The principal business address is:
Insurance Company of the West
11455 El Camino Real
San Diego, California 92130-2045
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
EXPLORER INSURANCE COMPANY
(a) Explorer Insurance Company
(b) The principal business address is:
Explorer Insurance Company
11455 El Camino Real
San Diego, California 92130-2045
(c) Current conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Arizona corporation.
DHM TRUST
(a) DHM Trust, Ernest S. Rady, Trustee
Mr. Rady's address is:
8144 Prestwick Drive
La Jolla, CA 92037
(b) The Trust's principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman,
President and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
the Schedule 13D.
(d) Current conviction during last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: USA
Identification of Members of the Group
(a) Westcorp
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
-------------------------------------- -----
Ernest S. Rady Chairman of the Board, Chief Executive
11455 El Camino Real Suite 200 Officer and Director
San Diego, CA 92130
Thomas Wolfe President and Director
23 Pasteur
Irvine, CA 92618
Lee A. Whatcott Executive Vice President,
23 Pasteur Chief Financial Officer and Chief Operating Officer
Irvine, CA 92618
Dawn Martin Senior Vice President and Chief
23 Pasteur Information Officer
Irvine, CA 92618
Richard Banes Vice President and Director of
23 Pasteur Audit Services
Irvine, CA 92618
Guy Du Bose Vice President, Secretary and
23 Pasteur General Counsel
Irvine, CA 9268
Mark Olson Vice President and Controller
23 Pasteur
Irvine, CA 9268
J. Keith Palmer Vice President and Treasurer
23 Pasteur
Irvine, CA 92618
Judith Bardwick Director
23 Pasteur
Irvine, CA 92618
Robert Barnum Director
23 Pasteur
Irvine, CA 92618
James Dowlan Director
23 Pasteur
Irvine, CA 92618
Duane A. Nelles Director
23 Pasteur
Irvine, CA 926818
Harry Rady Director
23 Pasteur
Irvine, CA 92618
Charles E. Scribner Director
23 Pasteur
Irvine, CA 92618-3804
Western Financial Bank
(a) Western Financial Bank
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
-------------------------------------- -----
Ernest S. Rady Chairman of the Board,
11455 El Camino Real Suite 200 Chief Executive Officer and
San Diego, CA 92130 Director
Charles E. Scribner Vice Chairman and Director
23 Pasteur
Irvine, CA 92618
James Tecca President of Commercial Banking
23 Pasteur Vice Chairman
Irvine, CA 92618
Thomas Wolfe President, Vice Chairman and Director
23 Pasteur
Irvine, CA 92618
Lee A. Whatcott Senior Executive Vice President,
23 Pasteur Chief Financial Officer and Chief
Irvine, CA 92618 Operating Officer
Dawn Martin Executive Vice President and
23 Pasteur Chief Information Officer
Irvine, CA 92618
Richard Banes Executive Vice President and
23 Pasteur Director of Audit Services
Irvine, CA 92618
Joy Bagnall Senior Vice President
23 Pasteur
Irvine, CA 92618
John DeCero Senior Vice President
23 Pasteur
Irvine, CA 92618
Guy Du Bose Senior Vice President, Secretary
23 Pasteur and General Counsel
Irvine, CA 92618
Doak Kraus Senior Vice President
23 Pasteur
Irvine, CA 92618
John Lawrence Senior Vice President
23 Pasteur
Irvine, CA 92618
Mark Olson Senior Vice President and Controller
23 Pasteur
Irvine, CA 92618
J. Keith Palmer Senior Vice President and Treasurer
23 Pasteur
Irvine, CA 92618
Shelly Chase Senior Vice President
23 Pasteur
Irvine, CA 92618
Jon Wilcox Senior Vice President
23 Pasteur
Irvine, CA 92618
Judith Bardwick Director
23 Pasteur
Irvine, CA 92618
Robert Barnum Director
23 Pasteur
Irvine, CA 92618
Duane A. Nelles Director
23 Pasteur
Irvine, CA 926818
Harry Rady Director
23 Pasteur
Irvine, CA 92618
Charles Schribner Director
23 Pasteur
Irvine, CA 92618
James Dowlan Director
23 Pasteur
Irvine, CA 92618
The Ernest S. Rady Trust
(a) Ernest S. Rady, Trustee
Page 17 of 30 Pages
Evelyn Shirley Rady
(a) Ernest S. Rady, Trustee
Avrett Enterprises, Ltd.
(a) Avrett Enterprises, Ltd.
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
-------------------------------------- -----
Sylvia Silverberg President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Vice President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Ernest S. Rady Vice President
8144 Prestwick Drive
La Jolla, CA 92037
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Silpit Industries Co., Ltd.
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
-------------------------------------- -----
(a) Silpit Industries Co., Ltd.
David S. Kaufman President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Page 18 of 30 Pages
Evelyn Rady Director
8144 Prestwick Drive
La Jolla, CA 92037
Sylvia Silverberg Director
70 Arthur Streer
Winnipeg, Manitoba
Canada R3B 1G7
Allan Kaufman Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Memrad Holdings, Ltd.
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
-------------------------------------- -----
(a) Memrad Holdings, Ltd.
Ernest S. Rady President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Marjorie Blankstein Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Morley Blankstein Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Mindel Olenick Assistant Secretary, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Thomas Z. Olenick Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Page 19 of 30 Pages
Brian Hirsch Secretary
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
American Assets, Inc.
(a) American Assets, Inc., a California corporation
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
------------------------------------- -----
Ernest S. Rady Chairman of the Board, President
8144 Prestwick Drive
La Jolla, CA 92037
Harry M. Rady Director
11455 El Camino Real #200
San Diego, CA 92130-2045
John J. Chamberlain Chief Executive Officer, Senior
11455 El Camino Real #200 Executive Vice President
San Diego, CA 92130-2045
Allen Garrett Executive Vice President, Chief
11455 El Camino Real #200 Operating Officer
San Diego, CA 92130-2045
Robert F. Barton Vice President, Chief Financial
11455 El Camino Real #200 Officer, Secretary
San Diego, CA 92130-2045
James R. Cronemeyer Executive Vice President,
11455 El Camino Real #200 Residential Properties
San Diego, CA 92130-2045
Page 20 of 30 Pages
Canpac Enterprises, Ltd.
(a) Canpac Enterprises, Ltd.
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
------------------------------------- -----
Ernest S. Rady President, Director
8144 Prestwick Drive
La Jolla, CA 92037
Brian Hirsch Secretary, Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
David S. Kaufman
11455 El Camino Real, #200 Director
San Diego, CA 92130-2045
Western Insurance Holdings, Inc.
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
------------------------------------- -----
(a) Western Insurance Holdings, Inc.
Ernest S. Rady Chairman of the Board, President
8144 Prestwick Drive
La Jolla, CA 92037
Bernard M. Feldman Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Harry Rady Director
11455 El Camino Real #200
San Diego, CA 92130-2045
John L. Hannum Executive Vice President
11455 El Camino Real #200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer,
11455 El Camino Real #200 Director
San Diego, CA 92130-2045
James W. Austin III Secretary
11455 El Camino Real #200
San Diego, CA 92130-2045
Mary E. Cannon Assistant Secretary
11455 El Camino Real #200
San Diego, CA 92130-2045
Page 21 of 30 Pages
Insurance Company of the West
(a) Insurance Company of the West
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
--------------------------------- -----
Ernest S. Rady Chairman of the Board, President,
11455 El Camino Real #200 Director
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Richard S. King Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Arne D. Wagner Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Bruce N. Moore Director
11455 El Camino Real #200
San Diego, CA 92130-2045
James B. Rathbun Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Charles E. Scribner Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Fredericka Taubitz Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Harry Rady Director
11455 El Camino Real #200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer
11455 El Camino Real #200
San Diego, CA 92130-2045
John L. Hannum Executive Vice President
11455 El Camino Real #200
San Diego, CA 92130-2045
Page 22 of 30 Pages
Kevin M. Prior Senior Vice President
11455 El Camino Real #200
San Diego, CA 92130-2045
James W. Austin III Senior Vice President, Secretary
11455 El Camino Real #200 and General Counsel
San Diego, CA 92130-2045
Gene P. Irizarry Senior Vice President
11455 El Camino Real #200
San Diego, CA 92130-2045
Dennis E. Osgood Senior Vice President
11455 El Camino Real #200
San Diego, CA 92130-2045
Page 23 of 30 Pages
Explorer Insurance Company
(a) Explorer Insurance Company
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
--------------------------------- -----
Ernest S. Rady Chairman of the Board, President,
11455 El Camino Real #200 Director
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Frederick Bernard Tisovic Executive Vice President, Director
11455 El Camino Real #200
San Diego, CA 92130-2045
James W. Austin III Director
11455 El Camino Real #200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President,
11455 El Camino Real #200 Treasurer, Director
San Diego, CA 92130-2045
John L. Hannum Executive Vice President
11455 El Camino Real #200
San Diego, CA 92130-2045
Mary E. Cannon Secretary
11455 El Camino Real #200
San Diego, CA 92130-2045
Page 24 of 30 Pages
DHM Trust
(a) Ernest S. Rady Trustee
DHM TRUST
(a) DHM Trust
Names and Addresses of Officers
and Directors as of May 24, 2004 Title
--------------------------------- -----
Ernest S. Rady Trustee
8144 Prestwick Drive
La Jolla, CA 92037
Page 25 of 30 Pages
Item 3. Source and Amount of Funds and Other Consideration.
The consideration paid for the securities purchased was cash from
working capital.
Item 4. Purpose of Transaction.
Although the purpose of the transaction was originally investment, the
affiliated group of persons executing this report, who control directly or
indirectly approximately 84% of the issuer, have determined to acquire, by
merger of the issuer into Western Financial Bank, the direct holder of that
approximately 84% of the issuer, the approximately 16% of the issuer held by
public investors. In that regard, Westcorp, Western Financial Bank and the
issuer entered into a definitive merger agreement on May 23, 2004 pursuant to
which the issuer will be merged into Western Financial Bank and all shareholder
of the issuer other than Western Financial Bank will receive 1.11 shares of
Westcorp common stock for each share of the issuer's common stock held by them.
Item 5. Interest in Securities of the Issuer.
This filing is for the cumulative share holdings of an affiliated group
as of the close of business on May 24, 2004. The various entities named in this
Schedule 13D directly or indirectly collectively owned, as of such date,
34,481,698 outstanding shares of Common Stock of the Issuer representing
approximately 84.03% of the outstanding shares of Common Stock of the Issuer. At
this date, there are 21,198 options exercisable by members of the affiliated
group within 60 days. Exhibit A attached hereto and incorporated by this
reference herein depicts the relationship among the various affiliated companies
in the "Rady" group as well as the ownership interests of Westcorp and Western
Financial Bank (which entities are controlled by the Rady Group). There is no
formal agreement to vote or dispose of the shares of the issuer in a particular
manner. The dispositive and voting power of each of the trusts and companies
shown on Exhibit A is made independent of each other, except to the extent that
Mr. and Mrs. Rady may be shareholders, officers and/or directors of the various
companies and in that respect are able to control the disposition and voting of
the shares of the Issuer owned by each such company.
No securities transactions occurred in the sixty (60) day period
preceding May 24, 2004:
Page 26 of 30 Pages
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer. See discussion under Items
4 and 5, above.
Additionally, pursuant to the provisions of the Ernest S. Rady Trust and
the Evelyn S. Rady Trust, Ernest S. Rady, as trustee, has the power to sell,
buy, retain, invest and reinvest the trusts' assets, which include shares of the
Issuer's Common Stock.
Item 7. Material to be Filed as Exhibits.
Exhibit A: Organizational Chart of Rady Entities beneficially holding
shares in WFS Financial Inc.
Page 27 of 30 Pages
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.
Westcorp
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Western Financial Bank
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Ernest S. Rady Trust
Dated: May 25, 2004 /s/ Ernest S. Rady
--------------------------------------
Ernest S. Rady, Trustee
Evelyn Shirley Rady Trust
Dated: May 25, 2004 /s/ Ernest S. Rady
--------------------------------------
Ernest S. Rady, Trustee
American Assets, Inc.
Dated: May 25, 2004 By: /s/ Ernest S. Rady
----------------------------------
Ernest S. Rady, Chairman
Avrett Enterprises, Ltd.
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Vice President
Canpac Enterprises, Ltd.
Dated: May 25, 2004 By: /s/ Ernest S. Rady
----------------------------------
Ernest S. Rady, President
Insurance Company of the West
Dated: May 25, 2004 By: /s/ Ernest S. Rady
----------------------------------
Ernest S. Rady, Chairman
Page 28 of 30 Pages
Memrad Holdings, Ltd.
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, President
Silpit Industries Co., Ltd.
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Western Insurance Holdings, Inc.
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
Explorer Insurance Inc.
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Chairman
DHM Trust
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady, Trustee
Ernest S. Rady
Dated: May 25, 2004 By: /s/ Ernest S. Rady
-----------------------------------
Ernest S. Rady
Evelyn Shirley Rady
Dated: May 25, 2004 By: /s/ Evelyn Shirley Rady
-----------------------------------
Evelyn Shirley Rady
Page 29 of 30 Pages
EXHIBIT A
ORGANIZATIONAL CHART OF RADY ENTITIES BENEFICIALLY
HOLDING SHARES IN WFS FINANCIAL INC AS OF MAY 24, 2004
----------------- ------------------
-----------ERNEST RADY------------ ---------EVELYN RADY------------------
/ / TRUST / / / TRUST / /
/ / -------------- / / /------------------------- / /
/ / / / 62.46% / / / /
/ / / 47.00% / / / / 50% / /
/ / / / / / / / /
/ / ----------------/ / ------------------------ /
/ / MEMRAD HOLDINGS,/ / / AVRETT ENTERPRISES--------/ /
/ / LTD. / / 25.9% LTD. / / /
/ / ----------------/ / /------------------------ / / /
/ / / / / / / / /
/ / / 11.69% / / 35.9% / / /
/ / / / / / / / /
/ / / / / /------------------------- / / /
/ / / / / /---SILPIT INDUSTRIES / 2.17% /
/ 9.70% / / / / CO. LTD. / / /
/ / / / / /-------------------------- / /
/ / 56.61% / / / 25.36% / /
8.24% / / / / /-------------------------- / /
/ / / / ----------CANPAC ENTERPRISES, LTD.--- /
/ / / / ------------------------ /
/ / / / / /
/ / / /-----------------------/----------/ /
/ / /-------------------/ 16.7% / / /
/ / /---AMERICAN ASSETS-/------------- / / /
/ / / INC. / / /
/ -------------------------- / /
/ / / / /
/ / / 87.12% / /
/ --------- ---------------------------- / 0.56%
/ / / / /
/ /36.38% --------------------- /
/ -------------------------------------- WESTERN INS. HOLDINGS /
/ / / --------------------- /
/ / / / /
/ /.73% / / 100% /
/ / / / /
/ / / ------------------------- /
/ / / ------------------------- INSURANCE CO. OF THE WEST /
/ ---------- / / ------------------------- /
/ DHM TRUST-- / / / /
/ ----------/ / 7.36% / 100% /
/ / / / / /
/ / / / ---------------------- /
/ 0.93% / / ------------------------- EXPLORER INSURANCE CO. /
/ / / / / 0.05% ---------------------- /
/ / / / / /
/ / -------------- /
------------- WESTCORP --------------------------------------------------
--------------
/
/ 100%
/
-----------------
WESTERN FINANCIAL
BANK
-----------------
/
/ 84.03%
/
-----------------
WFS FINANCIAL
-----------------
Page 30 of 30 Pages