Attached files
| file | filename |
|---|---|
| 8-K - IMPERIAL CAPITAL BANCORP, INC. | imp-8k031710.htm |
| EX-99.2 - IMPERIAL CAPITAL BANCORP, INC. | ex99-2.htm |
| EX-99.1 - IMPERIAL CAPITAL BANCORP, INC. | ex99-1.htm |
Exhibit
99.3
|
UNITED
STATES DEPARTMENT OF JUSTICE
OFFICE
OF THE UNITED STATES TRUSTEE
SOUTHERN
DISTRICT OF CALIFORNIA
|
|
In
Re:
IMPERIAL
CAPITAL BANCORP, INC., a Delaware corporation
Debtor(s).
|
CHAPTER
11 (BUSINESS)
CASE
NO. 3:09-bk-19431
OPERATING REPORT NO.
2
FOR
THE MONTH ENDING:
February 2010
|
I.
CASH RECEIPTS AND
DISBURSEMENTS
A.
(GENERAL
ACCOUNT**)
| 1. |
TOTAL
RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
|
$ | 0.00 | ||||
|
|
|||||||
| 2. |
LESS: TOTAL
DISBURSEMENTS PER ALL PRIOR
GENERAL
ACCOUNT REPORTS
|
$ | 17,358.84 | ||||
| 3. |
BEGINNING
BALANCE:
|
$ | 5,749,095.60 | ||||
| 4. |
RECEIPTS
DURING CURRENT PERIOD:
|
||||||
|
ACCOUNTS
RECEIVABLE - PRE-FILING
|
$ | 0.00 | |||||
|
ACCOUNTS
RECEIVABLE - POST-FILING
|
$ | 0.00 | |||||
|
GENERAL
SALES
|
$ | 0.00 | |||||
| OTHER (SPECIFY) Asset sales | $ | 860.00 | |||||
|
OTHER
(SPECIFY) Closing of accounts/Dividends
|
$ | 1,959.94 | |||||
| OTHER (SPECIFY) Tax refunds | $ | 55,747.83 | |||||
|
OTHER**
(SPECIFY) Refunds
|
$ | 18,046.13 | |||||
|
TOTAL
RECEIPTS THIS PERIOD:
|
$ | 76,613.90 | |||||
| 5. |
BALANCE:
|
$ | 5,825,709.50 |
| 6. |
LESS:
TOTAL DISBURSEMENTS DURING CURRENT PERIOD
|
|||||
|
TRANSFERS TO
OTHER DIP ACCOUNTS
|
$ | 0.00 | ||||
|
DISBURSEMENTS
|
$ | 20,423.69 | ||||
|
TOTAL
DISBURSEMENTS THIS PERIOD***:
|
$ | 20,423.69 | |||
| 7. |
ENDING
BALANCE:
|
$ | 5,805,285.81 | |||
| 8. |
GENERAL
ACCOUNT NUMBER
|
|||||
|
DEPOSITORY
NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A,
10th Floor,
Concord, CA
94520-2445
|
|
*
|
All receipts
must be deposited into the general
account.
|
Page 1 of
18
TOTAL
DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD
|
DATE
|
CHECK
NUMBER
|
PAYEE
|
PURPOSE
|
AMOUNT
|
|
02/01/10
|
1004
|
Junipers,
Inc.
|
Plant
maintenance services
|
$701.93
|
|
02/01/20
|
1005
|
Time
Warner Cable
|
Internet
services
|
$102.57
|
|
02/01/10
|
1006
|
Federal
Express
|
Shipping
services
|
$42.78
|
|
02/01/10
|
1007
|
Cristina
McNaught
|
Janitorial
services
|
$160.00
|
|
02/01/10
|
1008
|
Ace
Parking Management
|
Parking
services
|
$650.00
|
|
02/01/10
|
1010
|
Ace
Parking Management
|
Parking
services
|
$100.00
|
|
02/02/10
|
1012
|
San
Diego Gas & Electric
|
Utilities
|
$218.56
|
| 02/02/10 | 1014 | A Quality Connection |
$878.75
|
|
| 02/03/10 | 1011 | Public Storage | Storage services |
$286.62
|
| 02/03/10 | 1016 | Time Warner Cable | Internet services and installation |
$234.90
|
| 02/04/10 | 1015 | Public Storage | Storage services |
$202.13
|
| 02/04/10 | 1018 | Melanie O'Donnell | Expense reimbursement |
$284.67
|
| 02/05/10 | 1013 | U.S. Trustee | Quarterly trustee fee |
$325.00
|
| 02/08/10 | 1017 | Freedom Voice | New phone system |
$198.34
|
| 02/08/10 | 1019 | Federal Express | Shipping services |
$172.77
|
| 02/09/10 | 1024 | ADP | Payroll tax services |
$777.50
|
| 02/10/10 | 1020 | Freedom Voice | Telephone services |
$162.48
|
| 02/11/10 | 1022 | Ace Parking Management | Parking services |
$150.00
|
| 02/11/10 | 1025 |
Imperial
Capital Bancorp
(intercompany
transfer)
|
Funding payroll account |
$4,582.44
|
| 02/12/10 | 1021 | Federal Express | Shipping services |
$123.65
|
| 02/18/10 | 1023 | State Compensation | Workers compensation | $1,064.00 |
| 02/19/10 | 1029 | Takeo Sasaki | Consulting-accounting services | $3,268.00 |
| 02/22/10 | 1026 | Public Storage | Storage services | $488.75 |
| 02/22/10 | 1028 | Public Storage | Storage services | $352.04 |
| 02/23/10 | 1027 | Federal Express | Shipping services | $62.94 |
| 02/25/10 | 1030 |
Imperial
Capital Bancorp
(intercompany transfer)
|
Funding payroll account | $4,673.87 |
| 02/25/10 | 1031 | Cristiina McNaught | Janitorial services | $160.00 |
|
|
TOTAL
DISBURSEMENTS THIS
PERIOD $ 20,423.69
Add
additional pages as necessary to include all disbursements.
Page 2 of
18
GENERAL
ACCOUNT
BANK
RECONCILIATION*
|
Balance
per bank statement dated: 02/28/2010
|
$
|
5,805,285.81
|
Plus
deposits in transit (a):
|
Deposit
Date
|
Deposit
Amount
|
|
|
__________
|
$_____________
|
|
|
__________
|
$_____________
|
|
|
__________
|
$_____________
|
|
Total
deposits in transit
|
Less
outstanding checks (a):
|
Check Number
|
Check Date
|
Check Amount
|
||
|
1035
|
2/26/10
|
$213.98
|
||
| 1036 | 2/26/10 | $52.56 | ||
| 1037 | 2/26/10 | $58.80 | ||
| 1042 | 2/27/10 | $134.17 | ||
| 1043 | 2/27/10 | $57.10 | ||
| 1044 | 2/17/10 | $48.40 | ||
|
Total
outstanding checks
|
<565.01>
|
|||
|
Bank
statement adjustments**
|
||||
|
Adjusted
bank balance
|
$ | 5,804,720.80 | ||
|
*
|
It is
acceptable to attach lists of deposits in transit and outstanding checks
to this form or to replace this form with a similar
form.
|
Page 3 of
18
I.
CASH RECEIPTS AND
DISBURSEMENTS (Continued)
B.
(PAYROLL
ACCOUNT)
| 1. |
TOTAL
RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 12,642.36 | |||
| 2. |
LESS:
TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 12,626.78 | |||
| 3. |
BEGINNING
BALANCE
|
$ | 15.58 | |||
| 4. |
RECEIPTS:
TRANSFERRED FROM GENERAL
ACCOUNT
|
$ | 9,256.31 | |||
| 5. |
BALANCE
|
$ | 9,271.89 | |||
| 6. |
LESS:
DISBURSEMENTS DURING CURRENT PERIOD
|
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
|
2/11/10
|
Payroll
fee
|
NPS
Payroll Services
|
$58.00
|
|
2/11/10
|
Transfer
to payroll Services for 2/1 to 2/15 payroll
|
NPS
Payroll Services
|
$1,396.91
|
|
2/11/10
|
Transfer
to payroll for 2/1 to 2/15 payroll
|
NPS
Payroll Services
|
$3,127.53
|
| 2/25/10 | Payroll fee | NPS Payroll Services | $58.00 |
|
2/25/10
|
Transfer
to payroll for 2/16 to 2/28 payroll
|
NPS
Payroll Services
|
$1,429.49
|
|
2/25/10
|
Transfer
to payroll for 2/16/ to 2/28 payroll
|
NPS
Payroll Services
|
$3,186.38
|
|
|
|
||
|
TOTAL
DISBURSEMENTS THIS PERIOD:
|
$ | 9,256.31 | |||
| 7. |
ENDING
BALANCE:
|
$ | 15.58 | |||
| 8. |
PAYROLL
ACCOUNT NUMBER
DEPOSITORY
NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A,
10th Floor,
Concord, California
94500-2455
|
Page 4 of
18
PAYROLL
ACCOUNT
BANK
RECONCILIATION*
|
Balance
per bank statement dated: 2/28/2010
|
$ | 15.58 |
Plus
deposits in transit (a):
|
Deposit
Date
|
Deposit
Amount
|
|
__________
|
$_____________
|
|
__________
|
$_____________
|
|
__________
|
$_____________
|
|
Total
deposits in transit
|
0.00 |
Less
outstanding checks (a):
|
Check Number
|
Check Date
|
Check Amount
|
||
|
Total
outstanding checks
|
<0.00>
|
|||
|
Bank
statement adjustments**
|
||||
|
Adjusted
bank balance
|
$ | 15.58 | ||
|
*
|
It is
acceptable to attach lists of deposits in transit and outstanding checks
to this form or to replace this form with a similar
form.
|
Page 5 of
18
I. CASH
RECEIPTS AND DISBURSEMENTS (Continued)
B.
(TAX
ACCOUNT)
| 1. |
TOTAL
RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS
|
$ | 0.00 | |||
| 2. |
LESS: TOTAL
DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS
|
$ | 0.00 | |||
| 3. |
BEGINNING
BALANCE
|
$ | 0.00 | |||
| 4. |
RECEIPTS:
TRANSFERRED
FROM GENERAL ACCOUNT
|
$ | 0.00 | |||
| 5. |
BALANCE
|
$ | 0.00 | |||
| 6. |
LESS:
DISBURSEMENTS DURING CURRENT PERIOD
|
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
|
TOTAL
DISBURSEMENTS THIS PERIOD:
|
$ | 0.00 | |||
| 7. |
ENDING
BALANCE:
|
$ | 0.00 | |||
| 8. |
TAX
ACCOUNT NUMBER
|
|||||
|
DEPOSITORY
NAME AND LOCATION Bank of America, 1655 Grant St, Bldg A,
10th Floor
Concord, CA
94520-2445_______________________________________
|
D.
SUMMARY SCHEDULE OF
CASH
ENDING
BALANCE FOR PERIOD:
|
GENERAL
ACCOUNT
|
$ | 5,805,285.81 | ||
|
PAYROLL
ACCOUNT
|
$ | 15.58 | ||
|
TAX
ACCOUNT
|
$ | 0.00 | ||
|
OTHER
ACCOUNTS*: ____________
|
$ | |||
|
OTHER
MONIES*:_______________
|
$ | |||
|
PETTY
CASH**
|
$ | 250.00 | ||
|
TOTAL
CASH AVAILABLE
|
$ | 5,805,551.39 |
NOTE:
Attach copies of monthly accounts statements from financial institutions for
each account.
*Specify the fund
and the type of holding (i.e., CD, Savings Account, Investment securities,
etc.), and the depository name, location, and account
number.
Page 6 of
18
TAX
ACCOUNT
BANK
RECONCILIATION*
|
Balance
per bank statement dated:_____________________
|
$ | 0.00 |
Plus
deposits in transit (a):
|
Deposit
Date
|
Deposit
Amount
|
|
|
$
|
||
|
Total
deposits in transit
|
0.00 |
Less
outstanding checks (a):
|
Check Number
|
Check Date
|
Check Amount
|
||
|
Total
outstanding checks
|
<0.00>
|
|||
|
Bank
statement adjustments**
|
||||
|
Adjusted
bank balance
|
$ | 0.00 | ||
|
*
|
It is
acceptable to attach lists of deposits in transit and outstanding checks
to this form or to replace this form with a similar
form.
|
Page 7 of
18
II.
STATUS OF PAYMENTS TO
SECURED CREDITORS, LESSORS,
AND OTHER PARTIES TO
EXECUTORY CONTRACTS
|
CREDITOR,
LESSOR, ETC.
|
FREQUENCY
OF PAYMENTS
(Mo./Qtr.)
|
AMOUNT
OF PAYMENT
|
POST-PETITION
PAYMENTS NOT MADE (NUMBER)
|
TOTAL
DUE
|
|
|
||||
| None | ||||
|
TOTAL
DUE
|
III.
TAX
LIABILITIES
FOR THE
REPORTING PERIOD:
|
GROSS
SALES SUBJECT TO SALES TAX
|
$
|
0 |
|
TOTAL
WAGES PAID
|
$
|
9,256.31 |
|
TOTAL
POST-PETITION AMOUNTS OWING
|
AMOUNT
DELINQUENT
|
DATE
DELINQUENT AMOUNT DUE
|
|
|
FEDERAL
WITHHOLDING
|
$0.00
|
$0.00
|
|
|
STATE
WITHHOLDING
|
|
|
|
|
FICA
- EMPLOYER'S SHARE
|
|
|
|
|
FICA
- EMPLOYEE'S SHARE
|
|
|
|
|
FEDERAL
UNEMPLOYMENT
|
|
|
|
|
STATE
WITHHOLDING
|
|
|
|
|
SALES
AND USE
|
|
|
|
|
REAL
PROPERTY
|
|
|
|
|
OTHER:
(SPECIFY)
|
|
|
|
|
TOTAL:
|
|
|
Page 8 of
18
IV.
AGING OF ACCOUNTS
PAYABLE AND ACCOUNTS RECEIVABLE
|
ACCOUNTS
PAYABLE*
(POST-PETITION
ONLY)
|
ACCOUNTSRECEIVABLE
Pre-PetitionPost-Petition
|
||
|
30
days or less
|
None
|
None
|
None
|
|
31
- 60 days
|
|||
|
61
- 90 days
|
|||
|
91
- 120 days
|
|||
|
Over
120 days
|
|||
|
TOTALS:
|
|||
V.
INSURANCE
COVERAGE
|
NAME
OF CARRIER
|
AMOUNT
OF COVERAGE
|
POLICY
EXPIRATION DATE
|
PREMIUM
PAID THROUGH:
|
||
|
General
Liability
|
See
attached
|
schedule
|
|||
|
Worker
Compensation
|
|||||
|
Casualty
|
|||||
|
Vehicle
|
|||||
VI.
UNITED STATES TRUSTEE
QUARTERLY FEES
(TOTAL
PAYMENTS)
|
Qtrly
Period Ending
|
Total
Disbursements
|
Qtrly
Fees
|
Date
Paid
|
Amount
Paid
|
Qtrly
Fee Still Owing
|
|
12/31/10
|
$3,200.00
|
$325.00
|
1/29/10
|
$325.00
|
0.00
|
*Post-Petition
Accounts Payable should
not
include professionals' fees and expenses which have been incurred but not yet
awarded by the Court. Post-Petition Accounts Payable should include
professionals ' fees and expenses authorized by Court Order but which remain
unpaid as of the close of the period of the report.
Page 9 of
18
VII. SCHEDULE OF COMPENSATION
PAID TO INSIDERS
|
Name
of Insider
|
Date
of Order Authorizing Compensation
|
Authorized
Gross Compensation*
|
Gross
Compensation Paid During the Month
|
|
None
|
|||
* Please indicate how
compensation was identified in the order (e.g., $1,000/wk,
$2,500/mo)
VIII. SCHEDULE OF OTHER AMOUNTS
PAID TO INSIDERS
|
Name
of Insider
|
Date
of Order Authorizing Payment
|
Description
|
Amount
Paid During the Month
|
|
None
|
|||
On
December 18, 2009, the Federal Deposit Insurance Corporation ("FDIC") seized the
Debtor's subsidiary, Imperial Capital Bank. Due to that seizure, the
Debtor currently does not have full access to the books of account and records
or financial information that had been located on its computer hard
discs. In lieu of providing the Profit and Loss Statement and Balance
Sheet on an accrual basis, the Debtor has provided these reports on a cash
basis. The Debtor will file those statements on an accrual basis when
it obtains complete access to its books and records, which should be before the
end of February 2010.
Page 10 of
18
IX.
PROFIT AND LOSS
STATEMENT
(ACCRUAL
BASIS ONLY)
|
Current
Month
|
Cumulative Post-Petition
|
|||||||
|
Sales/Revenue:
|
||||||||
|
Gross
Sales/Revenue
|
0.00 | 0.00 | ||||||
|
Less:
Returns/Discounts
|
(0.00 | ) | (0.00 | ) | ||||
|
Net
Sales/Revenue
|
0.00 | 0.00 | ||||||
|
Cost
of Goods Sold:
|
||||||||
|
Beginning
Inventory at cost Purchases
|
0.00 | 0.00 | ||||||
|
Less:
Ending Inventory at cost
|
(0.00 | ) | (0.00 | ) | ||||
|
Cost
of Goods Sold (COGS)
|
0.00 | 0.00 | ||||||
|
Gross
Profit
|
||||||||
|
Other
Operating Income (Itemize)
|
0.00 | 0.00 | ||||||
|
Operating
Expenses:
|
||||||||
|
Payroll
- Insiders
|
0.00 | 0.00 | ||||||
|
Payroll
- Other Employees
|
8,404.75 | 19,606.41 | ||||||
|
Payroll
Taxes
|
735.56 | 2,177.31 | ||||||
|
Other
Taxes (Itemize)
|
0.00 | 0.00 | ||||||
|
Depreciation
and Amortization
|
0.00 | 0.00 | ||||||
|
Lease
Expense - Personal Property
|
0.00 | 0.00 | ||||||
|
Insurance
|
27,358.02 | 54,716.00 | ||||||
|
Telephone
and Utilities
|
1,976.81 | 4,503.88 | ||||||
|
Repairs,
Maintenance, Janitorial and Plant Services
|
163.58 | 1,025.51 | ||||||
|
Travel
and Entertainment (Itemize)
|
0.00 | 0.00 | ||||||
| Mileage and Parking | 45.29 | 45.29 | ||||||
| Airfare | 0.00 | 12,500.00 | ||||||
| Miscellaneous Operating Expenses (Itemize) | 0.00 | 0.00 | ||||||
| Insurance - Employees | (17,940.63 | ) | (13,949.01 | ) | ||||
| Workers Compensation Insurance | 1,064.00 | 1,064.00 | ||||||
| Parking Services | 150.00 | 1,450.00 | ||||||
| Storage | 1,042.92 | 1,616.16 | ||||||
| Bank Service Charges | 0.00 | 2,464.10 | ||||||
| Payroll Fees | 893.50 | 1,066.50 | ||||||
| Postage and Shipping | 417.16 | 459.94 | ||||||
| Employee Expense | 0.00 | (58.05 | ) | |||||
| Advertising | 0.00 | (1,000.00 | ) | |||||
| US Trustee Fees | 0.00 | 325.00 | ||||||
|
Total
Operating Expenses
|
24,310.96 | 88,013.04 | ||||||
|
Net
Gain/(Loss) from Operations
|
||||||||
|
Non-Operating
Income:
|
||||||||
|
Interest
on Cash Accounts
|
0.00 | (305.29 | ) | |||||
|
Gain
(Loss) on Sale of Assets
|
684.95 | (9,980.14 | ) | |||||
|
Prudential
Stock Dividends
|
0.00 | 1,332.10 | ||||||
|
Mark
to Market on CSV of Life Insurance Policies
|
47,872.70 | 136,570.40 | ||||||
|
Distribution
from ITLA Loan Securitization
|
0.00 | 0.00 | ||||||
|
Total
Non-Operating income
|
48,557.65 | 127,617.07 | ||||||
|
Non-Operating
Expenses:
|
||||||||
|
Interest
Expense
|
0.00 | 0.00 | ||||||
|
Legal
Expense
|
48,437.28 | 155,743.76 | ||||||
| Consulting - Accounting | 3,268.00 | 3,268.00 | ||||||
|
Other
(Itemize)
|
0.00 | 0.00 | ||||||
|
Total
Non-Operating Expenses
|
51,705.28 | 159,011.76 | ||||||
|
NET
INCOME/(LOSS)
|
(27,458.59 | ) | (119,407.73 | ) | ||||
(Attach
exhibit listing all itemizations required above)
Page 11 of
18
REVISED PROFIT & LOSS
STATEMENT FOR ENTIRE POSTPETITION PERIOD
Page 12 of
18
Imperial
Capital Bancorp, Inc.
Profit
& Loss
December
19, 2009 through February 28, 2010
|
Dec
19 - 31, 09
|
Jan
10
|
Feb
10
|
TOTAL
|
|||||||||||||
|
Ordinary
Income/Expense
|
||||||||||||||||
|
Income
|
||||||||||||||||
|
4310000 · INT
INC-CASH IN BANK
|
81.71 | -387.00 | 0.00 | -305.29 | ||||||||||||
|
4380000 · COMMON
STOCK DIVIDENDS
|
0.00 | 1,332.10 | 0.00 | 1,332.10 | ||||||||||||
|
Total
Income
|
81.71 | 945.10 | 0.00 | 1,026.81 | ||||||||||||
|
Net
Ordinary Income
|
81.71 | 945.10 | 0.00 | 1,026.81 | ||||||||||||
|
Other
Income/Expense
|
0.00 | -10,665.09 | 0.00 | -10,665.09 | ||||||||||||
|
Other
Income
|
||||||||||||||||
|
6200000 · GAIN/LOSS
ON INVESTMENT
|
||||||||||||||||
|
6280000 ·
GAIN/(LOSS) ON SALE/DISP-F/A
|
0.00 | 0.00 | 684.95 | 684.95 | ||||||||||||
|
6310000 · OTHER
INCOME
|
40,824.99 | 47,872.71 | 47,872.70 | 136,570.40 | ||||||||||||
|
Total Other
Income
|
40,824.99 | 37,207.62 | 48,557.65 | 126,590.26 | ||||||||||||
|
Other
Expense
7000000 · EMPLOYEE
SALARIES
|
0.00 | 11,201.66 | 8,404.75 | 19,606.41 | ||||||||||||
|
7025000 · OTHER
BENEFITS
|
0.00 | -58.05 | 0.00 | -58.05 | ||||||||||||
|
7035000 · HEALTH
INSURANCE
|
0.00 | 3,991.62 | -17,989.03 | -13,997.41 | ||||||||||||
|
7040000 · A D &
D INSURANCE
|
0.00 | 0.00 | 48.40 | 48.40 | ||||||||||||
|
7090000 · WORKERS
COMP
|
0.00 | 0.00 | 1,064.00 | 1,064.00 | ||||||||||||
|
7098000 · PAYROLL
TAXES
|
0.00 | 1,441.75 | 735.56 | 2,177.31 | ||||||||||||
|
7105000 ·
STORAGE
|
0.00 | 573.24 | 1,042.92 | 1,616.16 | ||||||||||||
|
7110000 ·
PARKING-OCC
|
0.00 | 1,300.00 | 150.00 | 1,450.00 | ||||||||||||
|
7120000 ·
UTILITIES
|
0.00 | 218.56 | 213.98 | 432.54 | ||||||||||||
|
7130000 ·
JANITORIAL
|
0.00 | 160.00 | 160.00 | 320.00 | ||||||||||||
|
7135000 · REPAIR
& MAINTENANCE
|
0.00 | 0.00 | 3.58 | 3.58 | ||||||||||||
|
7208000 · BUSINESS
PROMOTIONS/ADVERTISIN
|
0.00 | -1,000.00 | 0.00 | -1,000.00 | ||||||||||||
|
7240000 · LEGAL
FEES
|
29,476.75 | 77,829.73 | 48,437.28 | 155,743.76 | ||||||||||||
|
7260000 · DATA
PROCESSING
|
0.00 | 173.00 | 893.50 | 1,066.50 | ||||||||||||
|
7265000 ·
PROFESSIONAL SERV
|
0.00 | 0.00 | 3,268.00 | 3,268.00 | ||||||||||||
|
7280000 ·
TELEPHONE
|
0.00 | 2,308.51 | 1,762.83 | 4,071.34 | ||||||||||||
|
7285000 · STATIONERY
& SUPPLIES
|
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
|
7290000 ·
POSTAGE
|
0.00 | 42.78 | 417.16 | 459.94 | ||||||||||||
|
7295000 · DUES &
SUBSCRIPTIONS
|
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
|
7296000 · CLUB DUES
MEMBERSHIP EXECUTIV
|
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
|
7310200 ·
INSURANCE-D&O FIDU BOND EPLI
|
0.00 | 27,357.98 | 27,358.02 | 54,716.00 | ||||||||||||
|
7325000 ·
PARKING
|
0.00 | 0.00 | 24.00 | 24.00 | ||||||||||||
|
7326000 ·
MILEAGE
|
0.00 | 0.00 | 21.29 | 21.29 | ||||||||||||
|
7328000 · EMPLOYEE
RELATIONS
|
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
|
7350000 · GAS /
REPAIRS / MAINTENANCE
|
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
|
7360000 · MEETINGS
& SEMINARS
|
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
|
7366000 · TRAVEL -
LODGING
|
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
|
7367000 · TRAVEL -
AIRFARE
|
6,250.00 | 6,250.00 | 0.00 | 12,500.00 | ||||||||||||
|
7368000 · TRAVEL -
TAXI / LIMO
|
0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
|
7375000 · OFFICE
EXPENSE
|
0.00 | 701.93 | 0.00 | 701.93 | ||||||||||||
|
7390000 · BANK
SERVICE CHARGES
|
423.11 | 2,040.99 | 0.00 | 2,464.10 | ||||||||||||
|
7400000 · BANKRUPTCY
TRUSTEE FEE
|
0.00 | 325.00 | 0.00 | 325.00 | ||||||||||||
|
Total Other
Expense
|
36,149.86 | 134,858.70 | 76,016.24 | 247,024.80 | ||||||||||||
|
Net
Other Income
|
4,675.13 | -97,651.08 | -27,458.59 | -120,434.54 | ||||||||||||
|
Net
Income
|
4,756.84 | -96,705.98 | -27,458.59 | -119,407.73 | ||||||||||||
Page 13 of
18
X.
BALANCE
SHEET
(ACCRUAL
BASIS ONLY)
|
Current
Month End
|
||||||||
|
ASSETS
|
||||||||
|
Current
Assets:
|
||||||||
|
Unrestricted
Cash
|
5,804,986.38 | |||||||
| Other (Itemize) | ||||||||
|
Security
Deposit Held by Landlord
|
24,530.95 | |||||||
| Money Market Accounts | 7,362.22 | |||||||
|
Total
Current Assets
|
5,836,879.55 | |||||||
|
Other
Assets (Net of Amortization):
|
||||||||
|
Due
from Insiders
|
0.00 | |||||||
| Other (Itemize) | ||||||||
|
Cash
Improperly Withheld in former ICB
account
(City National Bank)
|
47,285.39 | |||||||
| Common Stock - Prudential Financial | 99,736.00 | |||||||
| Residual Interest in Securities | 457,481.64 | |||||||
|
Investment in
ITLA Mortgage Loan
Securitization
2002-1
|
75,000.00 | |||||||
| Invesetments in Subordinated Trusts | 2,600,000.00 | |||||||
| Automobiles | 165,350.00 | |||||||
| Furniture and Equipment | 43,824.55 | |||||||
| Accrued Interest on Subordinated Trusts | 209,803.78 | |||||||
| Current and Deferred Income Taxes | 11,364,060.75 | |||||||
| Delaware Franchise Taxes | 99,945.00 | |||||||
| Prepaid Expenses | 349,552.64 | |||||||
| Interests in Insurance Policies | 5,271,527.75 | |||||||
| Interest in Rabbi Trust Agreement | 2,012,583.08 | |||||||
| Other | 51,627.53 | |||||||
|
Total
Other Assets
|
34,823,126.07 | |||||||
| Contingent Debts owed to Debtor | 15,400,000.00 | |||||||
| Total Other Assets | 38,247,778.11 | |||||||
|
TOTAL
ASSETS
|
44,084,657.66 | |||||||
|
LIABILITIES
|
||||||||
|
Postpetition
Liabilities:
|
||||||||
|
Accounts
Payable
|
0.00 | |||||||
|
Taxes
Payable
|
0.00 | |||||||
|
Professional
fees
|
0.00 | |||||||
|
Secured
Debt
|
0.00 | |||||||
|
Total
Postpetition Liabilities
|
0.00 | |||||||
|
Prepetition
Liabilities:
|
||||||||
|
Secured
Liabilities
|
0.00 | |||||||
|
Priority
Liabilities
|
0.00 | |||||||
|
Unsecured
Liabilities
|
101,777,236.75 | |||||||
|
Total
Prepetition Liabilities
|
101,777,236.75 | |||||||
|
TOTAL
LIABILITIES
|
101,777,236.75 | |||||||
|
EQUITY:
|
||||||||
|
Prepetition
Owners' Equity
|
(57,576,013.36 | ) | ||||||
|
Postpetition
Profit/(Loss)
|
(119,407.73 | ) | ||||||
|
Direct
Charges to Equity
|
2,842.00 | |||||||
|
TOTAL
EQUITY
|
(57,692,479.09 | ) | ||||||
|
TOTAL
LIABILITIES & EQUITY
|
44,084,657.66 | |||||||
Page 14 of
18
REVISED BALANCE
SHEET FOR ENTIRE POSTPETITION PERIOD
Page 15 of
18
Imperial Capital Bancorp,
Inc.
Balance
Sheet
As of February 28,
2010
|
Dec
31, 09
|
Jan
31, 10
|
Feb
28, 10
|
||||||||||
|
ASSETS
|
||||||||||||
|
Current
Assets
|
||||||||||||
|
Checking/Savings
|
||||||||||||
|
1002000 · PETTY
CASH
|
250.00 | 250.00 | 250.00 | |||||||||
|
1005100 · BOFA - DIP
GENERAL
|
5,697,656.55 | 5,746,508.14 | 5,804,720.80 | |||||||||
|
1005200 · BOFA - DIP
PAYROLL
|
3,100.00 | 15.58 | 15.58 | |||||||||
|
1010000 · ICB BK
ACCT - MAIN
|
-15,631.72 | -42.87 | -625.59 | |||||||||
|
1010200 · ICB BK
ACCT - A/P
|
-209.57 | -65.18 | 0.00 | |||||||||
|
1010900 · ICB -
UNAUTHORIZED TRANSACTIONS
|
35,663.76 | 47,393.44 | 47,910.98 | |||||||||
|
1011030 · CASH -
BROKERAGE ACCTS
|
20,546.14 | 1,959.94 | 0.00 | |||||||||
|
1011040 · CASH-
M& I MARSHALL & ILSEY B
|
10,024.16 | 0.00 | 0.00 | |||||||||
|
1104100 · MMF
ADMIN
|
28,435.43 | 7,362.22 | 7,362.22 | |||||||||
|
Total
Checking/Savings
|
5,779,834.75 | 5,803,381.27 | 5,859,633.99 | |||||||||
|
Other Current
Assets
1109200 · COMMON
STOCK - AVAIL FOR SALE
|
107,466.69 | 95,131.00 | 99,736.00 | |||||||||
|
1109300 · RESIDUAL
INTEREST-SECURITIZED
|
484,944.56 | 457,481.64 | 457,481.64 | |||||||||
|
1200300 · INVST IN
SUB-ITLA MTG LN SEC
|
75,000.00 | 75,000.00 | 75,000.00 | |||||||||
|
1200350 · INVST IN
SUB PREFER TRUST I
|
433,000.00 | 433,000.00 | 433,000.00 | |||||||||
|
1200400 · INVST IN
SUB PREFER TRUST II
|
464,000.00 | 464,000.00 | 464,000.00 | |||||||||
|
1200500 · INVST IN
SUB PREFER TRUST III
|
619,000.00 | 619,000.00 | 619,000.00 | |||||||||
|
1200550 · INVST IN
SUB PREFER TRUST IV
|
310,000.00 | 310,000.00 | 310,000.00 | |||||||||
|
1200600 · INVST IN
SUB PREFER TRUST V
|
774,000.00 | 774,000.00 | 774,000.00 | |||||||||
|
Total Other Current
Assets
|
3,267,411.25 | 3,227,612.64 | 3,232,217.64 | |||||||||
|
Total Current
Assets
|
9,047,246.00 | 9,030,993.91 | 9,091,851.63 | |||||||||
|
Fixed
Assets
1520000 · COMPUTER
EQUIPMENT
|
185,143.43 | 185,143.43 | 185,143.43 | |||||||||
|
1520100 · COMPUTER
SOFTWARE
|
18,875.00 | 18,875.00 | 18,875.00 | |||||||||
|
1521000 · OFFICE
EQUIPMENT
|
212,228.31 | 212,228.31 | 212,228.31 | |||||||||
|
1522000 · FURN &
FIX. CAPITAL EXEC.
|
388,483.40 | 388,483.40 | 386,032.90 | |||||||||
|
1523000 ·
SIGNS
|
2,639.99 | 2,639.99 | 2,639.99 | |||||||||
|
1524000 · LEASEHOLD
IMPROVEMENTS
|
263,333.51 | 263,333.51 | 263,333.51 | |||||||||
|
1525000 · AUTOS
/EXECUTIVE
|
379,841.49 | 379,841.49 | 379,841.49 | |||||||||
|
1531500 · ACCUM
DEPREC COMPUTER EQUIPMEN
|
-169,049.73 | -169,049.73 | -169,049.73 | |||||||||
|
1531600 · ACCUM
DEPREC COMPUTER SOFTWARE
|
-18,875.00 | -18,875.00 | -18,875.00 | |||||||||
|
1531800 · ACCUM
DEPREC OFFICE EQUIPMENT
|
-206,044.65 | -206,044.65 | -206,044.65 | |||||||||
|
1532000 · ACCUM
DEPREC FURNITURE & FIXT
|
-366,761.16 | -366,761.16 | -364,485.71 | |||||||||
|
1533000 · ACCUM
DEPREC SIGNS
|
-2,639.99 | -2,639.99 | -2,639.99 | |||||||||
|
1534000 · ACCUM
DEPREC LEASEHOLD IMPROVE
|
-263,333.51 | -263,333.51 | -263,333.51 | |||||||||
|
1535000 · ACCUM
DEPREC AUTOS
|
-214,491.49 | -214,491.49 | -214,491.49 | |||||||||
|
Total Fixed
Assets
|
209,349.60 | 209,349.60 | 209,174.55 | |||||||||
|
Other
Assets
|
59,029.80 | 59,029.80 | 59,029.80 | |||||||||
|
1488000· ACCRUED
INTEREST - TRUST I
|
||||||||||||
|
1488010· ACCRUED
INTEREST - TRUST II
|
62,709.60 | 62,709.60 | 62,709.60 | |||||||||
|
1488020· ACCRUED
INTEREST - TRUST III
|
39,840.86 | 39,840.86 | 39,840.86 | |||||||||
|
1488030· ACCRUED
INTEREST - TRUST IV
|
16,245.61 | 16,245.61 | 16,245.61 | |||||||||
|
1488040· ACCRUED
INTEREST - TRUST V
|
31,977.91 | 31,977.91 | 31,977.91 | |||||||||
|
1500000· CURR FED
TAX PAY
|
1,436,649.65 | 1,436,649.65 | 1,436,649.65 | |||||||||
|
1502000· CURR STATE
TAX PAY
|
744,351.46 | 732,081.82 | 676,333.99 | |||||||||
|
1503000· CURR TAX
PAY - DELAWARE
|
99,945.00 | 99,945.00 | 99,945.00 | |||||||||
|
1550000· DEFERRED
FEDERAL TAX
|
7,964,309.81 | 7,964,178.81 | 7,962,796.81 | |||||||||
|
1552000· DEFERRED
STATE TAX
|
2,653,741.84 | 2,653,697.84 | 2,653,236.84 | |||||||||
|
1553000· DEFERRED
VALUATION ALLOWANCE
|
-10,621,755.23 | -10,621,755.23 | -10,621,755.23 | |||||||||
|
1600000· PPD
GENERAL
|
355,232.79 | 266,971.81 | 218,534.53 | |||||||||
|
1601000· PREPAID
INSURANCE
|
185,734.11 | 158,376.13 | 131,018.11 | |||||||||
|
1620000· DEPOSITS -
RENT
|
24,530.95 | 24,530.95 | 24,530.95 | |||||||||
|
1628000· TRUST
ASSETS DEFERRED COMP
|
2,012,583.08 | 2,012,583.08 | 2,012,583.08 | |||||||||
|
1628500· SERP
ASSETS
|
2,599.37 | 2,599.37 | 2,599.37 | |||||||||
|
1635000· A/R
MISC.
|
13,860.77 | 13,860.77 | 13,860.77 | |||||||||
|
1639000· A/R MASS
MUTAL-401K
|
35,167.39 | 35,167.39 | 35,167.39 | |||||||||
|
1639100· AR -CASH
SURRENDER VALUE -LIFE
|
4,734,542.34 | 4,782,415.05 | 4,830,287.75 | |||||||||
|
1639200· SPLIT
DOLLAR LIFE RECEIVABLE
|
441,240.00 | 441,240.00 | 441,240.00 | |||||||||
Page 16 of
18
Imperial Capital Bancorp,
Inc.
Balance
Sheet
As of February 28,
2010
|
Dec
31, 09
|
Jan
31, 10
|
Feb
28, 10
|
||||||||||
|
1672000 · I/CO -
RECEIVABLES
|
1,623,585.29 | 1,623,585.29 | 1,623,585.29 | |||||||||
|
1672010 · I/CO -
PAYABLES
|
-1,699,198.70 | -1,699,198.70 | -1,699,198.70 | |||||||||
|
Total Other
Assets
|
10,216,923.70 | 10,136,732.81 | 10,051,219.38 | |||||||||
|
TOTAL
ASSETS
|
19,473,519.30 | 19,377,076.32 | 19,352,245.56 | |||||||||
|
LIABILITIES
& EQUITY
Liabilities
Current
Liabilities
Accounts
Payable
|
0.00 | 0.00 | -134.17 | |||||||||
|
20000 · Accounts
Payable
|
||||||||||||
|
Total Accounts
Payable
|
0.00 | 0.00 | -134.17 | |||||||||
|
Other Current
Liabilities
|
129,293.83 | 129,293.83 | 129,293.83 | |||||||||
|
2300000 · A/P
GENERAL
|
||||||||||||
|
2320200 · ACCRUED
LIAB SALARY CON'T
PLAN
|
2,935,422.14 | 2,935,422.14 | 2,935,422.14 | |||||||||
|
2323000 · A/P 401K
PLAN
|
37,997.74 | 37,997.74 | 37,997.74 | |||||||||
|
2370000 · ACCRUED
GENERAL EXPENSES
|
20,980.00 | 20,980.00 | 20,980.00 | |||||||||
|
2376000 · ACCRUED
LEGAL
|
9,915.00 | 9,915.00 | 9,915.00 | |||||||||
|
2410200 · DEFERRED
COMPENSATION LIAB
|
4,983,833.23 | 4,983,833.23 | 4,983,833.23 | |||||||||
|
2650000 · INT ACCR
PAYALBE-TRUST I
|
1,967,618.82 | 1,967,618.82 | 1,967,618.82 | |||||||||
|
2650100 · INT ACCR
PAYABLE TRUST II
|
2,089,959.60 | 2,089,959.60 | 2,089,959.60 | |||||||||
|
2650200 · INT ACCR
PAYABLE TRUST III
|
1,327,104.74 | 1,327,104.74 | 1,327,104.74 | |||||||||
|
2650300 · INT ACCR
PAYABLE TRUST IV
|
540,297.99 | 540,297.99 | 540,297.99 | |||||||||
|
2650400 · INT ACCR
PAYABLE TRUST V
|
1,059,334.42 | 1,059,334.42 | 1,059,334.42 | |||||||||
|
Total Other Current
Liabilities
|
15,101,757.51 | 15,101,757.51 | 15,101,757.51 | |||||||||
|
Total Current
Liabilities
|
15,101,757.51 | 15,101,757.51 | 15,101,623.34 | |||||||||
|
Long Term
Liabilities
|
14,433,000.00 | 14,433,000.00 | 14,433,000.00 | |||||||||
|
2260000· INTERCO JR
SUB.SECURITY TRUST
|
||||||||||||
|
2260100· INTERCO JR
SUB. SECURITY TRUST
|
15,464,000.00 | 15,464,000.00 | 15,464,000.00 | |||||||||
|
2260200· INTERCO JR
SUBORD SEC III
|
20,619,000.00 | 20,619,000.00 | 20,619,000.00 | |||||||||
|
2260300· INTERCO JR
SUBORD SEC IV
|
10,310,000.00 | 10,310,000.00 | 10,310,000.00 | |||||||||
|
2260400· INTERCO JR
SUBORD SEC V
|
25,774,000.00 | 25,774,000.00 | 25,774,000.00 | |||||||||
|
TotalLong Term
Liabilities
|
86,600,000.00 | 86,600,000.00 | 86,600,000.00 | |||||||||
|
Total
Liabilities
|
101,701,757.51 | 101,701,757.51 | 101,701,623.34 | |||||||||
|
Equity
|
79,854.32 | 79,854.32 | 79,854.32 | |||||||||
|
3000000· CAPITAL
STOCK
|
||||||||||||
|
3000150· EARNED
COMPENSATIONFR
SERP
|
2,146,492.89 | 2,146,492.89 | 2,146,492.89 | |||||||||
|
3000200· STOCK
COMPENSATION
|
1,033,792.76 | 1,033,792.76 | 1,033,792.76 | |||||||||
|
3100000· PAID IN
SURPLUS
|
82,000,992.87 | 82,000,992.87 | 82,000,992.87 | |||||||||
|
32000· Retained
Earnings
|
0.00 | -276,022,114.53 | -276,022,114.53 | |||||||||
|
3210000· EARNED
SURPLUS
|
223,582,795.34 | 223,582,795.34 | 223,582,795.34 | |||||||||
|
3215000· UNRLZD LOSS
INVST
|
56,815.00 | 57,078.00 | 59,840.00 | |||||||||
|
3230100· OCI VAL
ALLW-UNRLD-COMM STOCK
|
15,021.92 | 15,021.92 | 15,021.92 | |||||||||
|
3300000· TREASURY
STOCK-REPURCHASE PROG
|
-110,006,061.00 | -110,006,061.00 | -110,006,061.00 | |||||||||
|
3300050· TREASURY
STOCK-SERP REPURCHASE
|
-2,144,577.63 | -2,144,577.63 | -2,144,577.63 | |||||||||
|
3300100· TREASURY
STOCK-RABBI REPURCHAS
|
-2,971,250.15 | -2,971,250.15 | -2,971,250.15 | |||||||||
|
Net
Income
|
-276,022,114.53 | -96,705.98 | -124,164.57 | |||||||||
|
Total
Equity
|
-82,228,238.21 | -82,324,681.19 | -82,349,377.78 | |||||||||
|
TOTAL
LIABILITIES & EQUITY
|
19,473,519.30 | 19,377,076.32 | 19,352,245.56 | |||||||||
Page 17 of
18
XI.
QUESTIONNAIRE
|
1.
|
Has
the debtor-in-possession made any payments on its pre-petition unsecured
debt, except as have been authorized by the
court?
|
X No.
___ Yes.
Explain_______________________________________________________________________________________
_____________________________________________________________________________________________________
|
2.
|
Has
the debtor-in-possession during this reporting period provided
compensation or remuneration to any officers, directors, principals, or
other insiders without appropriate
authorization?
|
X No.
____
Yes.
Amount, to whom, and for what period?
___________________________________________________________
_____________________________________________________________________________________________________
3. State
what progress was made during the reporting period toward filing a plan of
reorganization:
The Debtor filed for chapter
11 protection on December 18, 2009 just after the Federal Deposit Insurance
Corporation ("FDIC") seized its subsidiary, Imperial Capital
Bank. The Debtor and its Board of Directors are presently
analyzing various restructuring options to determine the best return for the
Debtor's unsecured creditors. Given that the Debtor is a public
company with substantial net operating losses, the Debtor may be able to
implement a business restructuring, rather than a chapter 11
liquidation. The Debtor believes that it will have a more definitive
idea of its chapter 11 exit plan within sixty to ninety days.
4. Describe
potential future developments which may have a significant impact on the
case.
As stated above, the Debtor
and its Board of Directors are analyzing various restructuring
options. The result of such analysis will dictate the future of the
Debtor's chapter 11 case.
|
5.
|
Attach
copies of all Orders granting relief from the automatic stay that were
entered during the reporting
period. NONE
|
6. Did
you receive any exempt income this month, which is not set forth in the
operating report?
X No.
___
Yes. Please set forth the amounts and the source of the
income.
_____________________________________________________________________________________________________
_____________________________________________________________________________________________________
_____________________________________________________________________________________________________
I, Joseph W. Kiley, III, Chief
Executive Officer, (Name and title), declare under penalty of perjury
that I have fully read and understood the foregoing debtor-in-possession
operating report and that the information contained herein is true and complete
to the best of my knowledge.
|
Date: March 19,
2010
|
/s/ Joseph W. Kiley, III
|
|||
|
Principal
for debtor-in-possession
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