PFF BANCORP INC - FORM 8-K - EX-99.1

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8-K - FORM 8-K - PFF BANCORP INC	d309983d8k.htm

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

IN THE DISTRICT OF DELAWARE


In re	PFF Bancorp, Inc.	Case No.	08-13127
		Reporting Period:	1/1/12 – 1/31/12

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.


REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached	Affidavit / Supplement Attached
Schedule of Cash Receipts and Disbursements	MOR-1	YES
Bank Reconciliation (or copies of debtor’s bank reconciliations)	MOR-1a	YES
Schedule of Professional Fees Paid	MOR-1b	YES
Copies of bank statements		YES
Cash disbursements journals		YES
Statement of Operations	MOR-2	YES
Balance Sheet	MOR-3	YES
Status of Post-petition Taxes	MOR-4	YES
Copies of IRS Form 6123 or payment receipt		N/A
Copies of tax returns filed during reporting period		N/A
Summary of Unpaid Post-petition Debts	MOR-4	YES
Listing of aged accounts payable	MOR-4	YES
Accounts Receivable Reconciliation and Aging	MOR-5	YES
Debtor Questionnaire	MOR-5	YES

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


Signature of Debtor		Date

Signature of Joint Debtor		Date

/s/ Kevin McCarthy		February 15, 2012
Signature of Authorized Individual*		Date

Kevin McCarthy		CEO
Printed Name of Authorized Individual		Title of Authorized Individual

*	Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.


In re	PFF Bancorp, Inc.	Case No.	08-13127
		Reporting Period:	1/1/12 – 1/31/12

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the “CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CONT)]


	BANK ACCOUNTS								CURRENT MONTH				CUMULATIVE FILING TO DATE
	OPER.			PAYROLL	TAX			OTHER	ACTUAL			PROJECTED	ACTUAL		PROJECTED
CASH BEGINNING OF MONTH	$	13,701.36			$	42,328,441.43			$	42,342,142.79			$	3,637,884.57
RECEIPTS
CASH SALES
ACCOUNTS RECEIVABLE
LOANS AND ADVANCES													$	1,033,315.22
SALE OF ASSETS
OTHER (ATTACH LIST)	$	97,317.95	¹		$	8.26	²		$	97,326.21			$	45,388,311.52
TRANSFERS (FROM DIP ACCTS)
													$	45,771,737.45
TOTAL RECEIPTS	$	97,317.95			$	8.26			$	97,326.21			$	92,193,364.19
DISBURSEMENTS
NET PAYROLL	$	40,306.50							$	40,306.50			$	742,079.17
PAYROLL TAXES
SALES, USE & OTHER TAXES
INVENTORY PURCHASES
SECURED RENTAL/LEASES
INSURANCE
ADMINISTRATIVE	$	58,581.81			$	6,000.00			$	64,581.81			$	1,184,298.29
SELLING
OTHER (ATTACH LIST)													$	1,486,086.27
OWNER DRAW*
TRANSFERS (TO DIP ACCTS)
													$	45,771,737.45
PROFESSIONAL FEES													$	4,270,542.88
U.S. TRUSTEE QUARTERLY FEES	$	8,450.00							$	8,450.00			$	50,374.01
COURT COSTS
TOTAL DISBURSEMENTS	$	107,338.31			$	6,000.00			$	113,338.31			$	53,505,118.07
NET CASH FLOW
(RECEIPTS LESS DISBURSEMENTS)	($	10,020.36	)		($	5,991.74	)		($	16,012.10	)		$	38,688,246.12
CASH - END OF MONTH	$	3,681.00			$	42,322,449.69			$	42,326,130.69			$	42,326,130.69

*	COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED


DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS	$	113,338.31
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS	$
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)	$
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES	$	113,338.31

¹	Transfers from Diversified Builder Services $97,317.95

²	Interest received $8.26


Account		9146
Account Name		PFF Bancorp, Inc.
Reconciliation As of Date		1/31/12


Balance per Bank				$	12,910.00

Deposits in Transit
Date			Amount
	Total
Outstanding Checks
Check #			Amount
1436		$	8,450.00
1437		$	800.00
	Total			($	9,250.00	)
Other (List)
ADP charge on bank not on books				$	21.00
Balance per Books				$	3,681.00


Account		1900
Account Name		PFF Bancorp, Inc. – FDIC QSF
Reconciliation As of Date		1/31/12


Balance per Bank		$	42,322,449.69

Deposits in Transit

Date

Amount

Total

Outstanding Checks

Check #

Amount

Total

Other (List)

Balance per Books

42,322,449.69


In re	PFF Bancorp, Inc.	Case No.	08-13127
		Reporting Period:	1/1/12 – 1/31/12

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month.


Payee	Period Covered	Amount Covered	Payor	Check		Amount Paid		Year-To-Date
Payee	Period Covered	Amount Covered	Payor	Number	Date	Fees	Expenses	Fees		Expenses
Paul, Hastings LLP								$	1,997,643.56	$	24,982.85
JH Cohn								$	726,866.80	$	5,472.15
Blank Rome								$	1,167,570.20	$	30,697.85
Richards Layton & Finger								$	251,248.88	$	4,778.68
Flaster Greenberg								$	58,570.28	$	2,711.63


Bank of America LOGO	Account Number	9146
	01 01 149 01 M0000 E#	4
CUSTOMER CONNECTION	Last Statement:	12/30/2011
BANK OF AMERICA, N.A.	This Statement:	01/31/2012
DALLAS, TEXAS 75283-2406
	Customer Service
	1-800-342-7722
PFF BANCORP, INC
DEBTOR IN POSSESSION #08-13127-KJC
OPERATING ACCOUNT
2058 N. MILLS AVE #139 CLAREMONT CA 91711	Page 1 of 3
	Bankruptcy Case Number: 0813127KJC

CUSTOMER CONNECTION ECONOMY CHECKING

Account Summary Information


Statement Period 12/31/2011 – 01/31/2012		Statement Beginning Balance	$	17,739.93
Number of Deposits/Credits	3	Amount of Deposits/Credits	$	154,329.40
Number of Checks	5	Amount of Checks	$	137,674.31
Number of Other Debits	6	Amount of Other Debits	$	21,485.02
		Statement Ending Balance	$	12,910.00
Number of Enclosures	4
		Service Charge	$	5.10

Deposits and Credits


Date Posted	Customer Reference		Amount		Description	Bank Reference
01/04			$	96,011.45	CA BANKING CENTER DEPOSIT		20505760511267
01/09		1433	$	57,011.45	Return Check Return – Check Number 1433 Effective Date is 01/06/2012		09938100004
01/17			$	1,306.50	CA BANKING CENTER DEPOSIT		297105760016627

Withdrawals and Debits


Checks

Check Number	Amount		Date Posted		Bank Reference		Check Number			Amount		Date Posted		Bank Reference
1432	$	4,108.71		01/04		6692304857		1435		$	57,011.45		01/18		1082127194
1433	$	57,011.45		01/06		1082846033		10074	*	$	18,952.42		01/17		8992296732
1434	$	590.28		01/06		9892307891


Other Debits
Date Posted	Customer Reference		Amount		Description	Bank Reference
01/09			$	21,354.08	ADP TX/FINCL SVC DES:ADP – TAX ID:E2Z8V 010901A01 INDN:PFF BANCORP INC CO ID:1223006057 CCD		06013254654
01/13		1	$	5.00	ACCOUNT INQUIRY		09939900038
01/19			$	53.94	ADP PAYROLL FEES DES: ADP – FEES ID: 13Z8V 6330938 INDN: PFF BANCORP INC CO ID: 9659605001 CCD		18003176105
01/25			$	50.90	ADP PAYROLL FEES DES: ADP – FEES ID: 13Z8V 6330939 INDN: PFF BANCORP INC CO ID: 9659605001 CCD		24003016884
01/30			$	21.00	ADP TX/FINCL SVC DES:ADP – TAX ID:E2Z8V 2714284VV INDN:PFF BANCORP INC CO ID:1223006057 CCD		27009583312
01/31			$	0.10	FDIC ASSESSMENT


Daily Balances
Date	Ledger Balance		Collected Balance		Date		Ledger Balance		Collected Balance
12/30	$	17,739.93	$	17,739.93		01/06	$	109,052.39	$	13,040.94
01/04	$	109,642.67	$	13,631.22		01/09	$	87,698.31	$	81,937.63

*	The preceding check(s) is still outstanding or has been included in a previous statement or is included in the ‘Other Debits’ section as an ACH paperless transaction.

Bank of America LOGO

Account Number

9146

01 01 149 01 M0000 E#

CUSTOMER CONNECTION

Last Statement:

12/30/2011

BANK OF AMERICA, N.A.

This Statement:

01/31/2012

DALLAS, TEXAS 75283-2406

Customer Service

1-800-342-7722

PFF BANCORP, INC

DEBTOR IN POSSESSION #08-13127-KJC

OPERATING ACCOUNT

2058 N. MILLS AVE #139

CLAREMONT CA 91711

Page 2 of 3

FORM MOR-1b

(04/07

)

Bankruptcy Case Number: 0813127KJC


CUSTOMER CONNECTION ECONOMY CHECKING

Daily Balances
Date	Ledger Balance	Collected Balance	Date	Ledger Balance	Collected Balance
01/10	$87,698.31	$87,698.31	01/20	$12,982.00	$12,903.61
01/13	$87,693.31	$87,693.31	01/23	$12,982.00	$12,982.00
01/17	$70,047.39	$68,740.89	01/25	$12,931.10	$12,931.10
01/18	$13,035.94	$11,729.44	01/30	$12,910.10	$12,910.10
01/19	$12,982.00	$11,675.50	01/31	$12,910.00	$12,910.00

Bank of America LOGO

Account Number

9146

01 01 149 01 M0000 E#

CUSTOMER CONNECTION

Last Statement:

12/30/2011

BANK OF AMERICA, N.A.

This Statement:

01/31/2012

DALLAS, TEXAS 75283-2406

Customer Service

1-800-342-7722

PFF BANCORP, INC

DEBTOR IN POSSESSION #08-13127-KJC

OPERATING ACCOUNT

2058 N. MILLS AVE #139

CLAREMONT CA 91711

Page 3 of 3

FORM MOR-1b

(04/07

)

Bankruptcy Case Number: 0813127KJC

IMPORTANT INFORMATION

CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.

TERMS AND CONDITIONS. All deposits to, withdrawals from, or other transactions pertaining to your account(s) are subject to the terms and conditions of the agreement you received when you opened your account and any amendments thereto. Amendments to the agreement may be made from time to time in the manner stated therein.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS. If you think your statement or receipt is wrong or if you need more information about an electronic transfer (e.g., ATM transactions, direct deposits or withdrawals, point-of-sale transactions) on the statement or receipt, telephone or write us at the address or number listed on the front of this statement as soon you can. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.

*	Tell us your name and account number

*	Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information

*	Tell us the dollar amount of the suspected error.

For consumer accounts used primarily for personal, family or household purposes, we will investigate your complaint and will correct any error promptly. If we take more than 10 business days (20 business days if you are a new customer, for electronic transfers occurring during the first 30 days after the first deposit is made to your account), to do this, we will re-credit your account for the amount you think is in error so that you will have use of the money during the time it takes us to complete our investigation.

For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.

DIRECT DEPOSITS.

If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you may call us at the telephone number listed on the front of this statement to find out if the deposit was made as scheduled.

REPORTING OTHER PROBLEMS.

You must examine your statement carefully and promptly. You are in the best position to discover errors and unauthorized transactions on your account. If you fail to notify us in writing of suspected problems or unauthorized transactions within the time periods specified in the deposit agreement (which periods are no more than 60 days after we make the statement available to you and in some cases are 30 days or less), we are not liable to you for, and you agree not to make a claim against us for the problems or unauthorized transactions.

CTS CMES SPECIALIZED PRODS MN

CORPORATE TRUST SERVICES

MAC N9311-110 SPECIALIZED PRODUCTS

625 MARQUETTE AVE, 11TH FLOOR

MINNEAPOLIS, MN 55402-2308

PFF BANCORP FDIC QSF

ACCOUNT NUMBER 83671900

MONTHLY STATEMENT

JANUARY 1, 2012 THROUGH JANUARY 31, 2012


		ACCOUNT MANAGER: DAVID BERGSTROM TELEPHONE NUMBER: 612-667-7390

FEDERAL DEPOSIT INSURANCE CORP 3501 FAIRFAX DRIVE ARLINGTON, VIRGINIA 22226 ATTN: B. AMON JAMES		ADMINISTRATOR: DAVID PICKETT TELEPHONE NUMBER: (612) 667-9099

TABLE OF CONTENTS

FOR THE PERIOD ENDED JANUARY 1, 2012 THROUGH JANUARY 31, 2012

PFF BANCORP FDIC QSF

ACCOUNT NUMBER 83671900


REPORT NAME	PAGE NUMBER
ASSET SUMMARY		1
STATEMENT OF ASSETS		2
CASH SUMMARY		3
STATEMENT OF TRANSACTIONS		4
CASH MANAGEMENT TRANSACTION JOURNAL		5


				PAGE 1

ASSET SUMMARY				PFF BANCORP FDIC QSF
AS OF JANUARY 31, 2012				ACCOUNT NUMBER 83671900

ASSET SUMMARY


INVESTMENT CATEGORY	COST VALUE		MARKET VALUE		UNREALIZED GAIN/LOSS		ACCRUED INCOME
CASH	$	0.00	$	0.00
CASH EQUIVALENTS	$	43,322,449.69	$	42,325,351.23	$	2,901.54	$	4.11

TOTAL INVESTMENTS	$	43,322,449.69	$	42,325,351.23	$	2,901.54	$	4.11


				PAGE 2

STATEMENT OF ASSETS				PFF BANCORP FDIC QSF
AS OF JANUARY 31, 2012				ACCOUNT NUMBER 83671900

STATEMENT OF ASSETS


PAR VALUE / SHARES	DESCRIPTION	COST VALUE / UNIT COST		MARKET VALUE / UNIT PRICE		UNREALIZED GAIN / LOSS		ACCRUED INCOME
CASH EQUIVALENTS
$20,925,000	US TREASURY BILL DTD 06/30/11 06/28/2012 CUSIP 9127953W9	$	20,915,618.63 99.955	$	20,918,931.75 99.971	$	3,313.12	$	0.00
$21,167,000	US TREASURY BILL DTD 09/22/11 03/22/2012 CUSIP 9127955E7	$	21,165,929.89 99.995	$	21,165,518.31 99.993	$	411.58-	$	0.00
$240,901.17	WFB MONEY MARKET DEPOSIT ACCOUNT CUSIP 999491905	$	240,901.17 1.000	$	240,901.17 1.000	$	0.00	$	4.11

TOTAL CASH EQUIVALENTS		$	42,322,449.69	$	42,325,351.23	$	2,901.54	$	4.11

TOTAL INVESTMENTS		$	42,322,449.69	$	42,325,351.23	$	2,901.54	$	4.11


				PAGE 3

CASH SUMMARY				PFF BANCORP FDIC QSF
FOR THE PERIOD JANUARY 1, 2012 THROUGH JANUARY 31, 2012				ACCOUNT NUMBER 83671900

CASH SUMMARY


DESCRIPTION	PRINCIPAL CASH		INCOME CASH
BEGINNING BALANCE	$	8.05-	$	8.05

RECEIPTS

NET INTEREST COLLECTED	$	0.00	$	4.19
CASH MANAGEMENT SALES	$	6,000.00	$	0.00

TOTAL CASH RECEIPTS	$	6,000.00	$	4.19

DISBURSEMENTS

INVESTMENT MANAGEMENT EXPENSES	$	6,000.00-	$	0.00
CASH MANAGEMENT PURCHASES	$	4.19-	$	0.00

TOTAL CASH DISBURSEMENTS	$	6,004.19-	$	0.00

ENDING BALANCE	$	12.24-	$	12.24


				PAGE 4

STATEMENT OF TRANSACTIONS				PFF BANCORP FDIC QSF
FOR THE PERIOD JANUARY 1, 2012 THROUGH JANUARY 31, 2012				ACCOUNT NUMBER 83671900

STATEMENT OF TRANSACTIONS


DATE	PAR VALUE / SHARES		DESCRIPTION	PRINCIPAL CASH		INCOME CASH		COST VALUE		REALIZED GAIN/LOSS
			BEGINNING BALANCE		$8.05-		$8.05		$42,328,445.50

01/03/12			INTEREST RECEIVED WFB MONEY MARKET DEPOSIT ACCOUNT CUSIP 999491905 INTEREST FROM 12/1/11 TO 12/31/11			$	4.19
01/10/12			TRUSTEE FEE PAID TO WELLS FARGO FEES WF CTS FEES & EXPENSES – INVOICE #807496	$	6,000.00-
01/31/12	$	4.19	CASH SWEEP PURCHASES FOR STMT PERIOD WFB MONEY MARKET DEPOSIT ACCOUNT CUSIP 999491905 1 TRANSACTION	$	4.19-			$	4.19
01/31/12	$	6,000.00-	CASH SWEEP PURCHASES FOR STMT PERIOD WEB MONEY MARKET DEPOSIT ACCOUNT CUSIP 999491905 1 TRANSACTION	$	6,000.00			$	6,000.00-
			ENDING BALANCE		$12.24-		$12.24		$42,322,449.69


				PAGE 5

STATEMENT OF TRANSACTIONS				PFF BANCORP FDIC QSF
FOR THE PERIOD JANUARY 1, 2012 THROUGH JANUARY 31, 2012				ACCOUNT NUMBER 83671900

STATEMENT OF TRANSACTIONS

DATE

PAR VALUE / SHARES

DESCRIPTION

PRINCIPAL CASH

INCOME CASH

01/03/12

4.19

PURCHASED

WFB MONEY MARKET DEPOSIT ACCOUNT

4.19-

01/10/10

6,000.00

SOLD

WFB MONEY MARKET DEPOSIT ACCOUNT

6,000.00

WFB MONEY MARKET DEPOSIT ACCOUNT

TOTAL PURCHASES/DEPOSITS

$4.19-

$0.00

TOTAL SALES/WITHDRAWALS

$6,000.00

$0.00

PFF Bancorp, Inc.

Transaction Detail by Account

January 2012


	Date	Type	Num	Name	Memo/Description	Split	Amount		Balance
B of A Checking
	01/02/2012	Journal Entry	612			-SPLIT-		-590.28		-590.28
	01/02/2012	Journal Entry	614			-SPLIT-		-57,011.45		-57,601.73
	01/02/2012	Journal Entry	611			-SPLIT-		96,011.45		38,409.72
	01/03/2012	Journal Entry	615			-SPLIT-		-70.14		38,339.58
	01/05/2012	Journal Entry	617			-SPLIT-		-40,360.44		-2,020.86
	01/06/2012	Journal Entry	621			-SPLIT-		1,306.50		-714.36
	01/06/2012	Journal Entry	619			-SPLIT-		-50.90		-765.26
	01/27/2012	Journal Entry	631			-SPLIT-		-800.00		-1,565.26
	01/27/2012	Journal Entry	630			-SPLIT-		-8,450.00		-10,015.26
	01/31/2012	Journal Entry	635			-SPLIT-		-5.10		-10,020.36

Total for B of A Checking								-10,020.36
PFF Bancorp FDIC QSF
	01/03/2012	Journal Entry	637			-SPLIT-		4.07		4.07
	01/31/2012	Journal Entry	638			-SPLIT-		-6,000.00		-5,995.93
	01/31/2012	Journal Entry	639			-SPLIT-		4.19		-5,991.74

Total for PFF Bancorp FDIC QSF								-5,991.74
Post Petition Unpaid - BR
	01/17/2012	Journal Entry	629			-SPLIT-		82,345.68		82,345.68
	01/31/2012	Journal Entry	641			-SPLIT-		134,688.62		217,034.30

Total for Post Petition Unpaid - BR								217,034.30
Post Petition Unpaid - JH C
	01/17/2012	Journal Entry	627			-SPLIT-		18,344.38		18,344.38

Total for Post Petition Unpaid - JH C								18,344.38
Post Petition Unpaid - KCC
	01/27/2012	Journal Entry	633			-SPLIT-		3,229.50		3,229.50

Total for Post Petition Unpaid - KCC								3,229.50
Post Petition Unpaid - McCarthy
	01/02/2012	Journal Entry	612			-SPLIT-		-590.28		-590.28
	01/05/2012	Journal Entry	617			-SPLIT-		-37,000.00		-37,590.28
	01/13/2012	Journal Entry	624			-SPLIT-		5,936.53		-31,653.75
	01/27/2012	Journal Entry	632			-SPLIT-		5,318.81		-26,334.94

Total for Post Petition Unpaid - McCarthy								-26,334.94
Post Petition Unpaid - MOGR
	01/31/2012	Journal Entry	643			-SPLIT-		27,535.84		27,535.84

Total for Post Petition Unpaid - MOGR								27,535.84
Post Petition Unpaid - PH
	01/10/2012	Journal Entry	623			-SPLIT-		121,605.40		121,605.40

Total for Post Petition Unpaid - PH								121,605.40
Post Petition Unpaid - Pure Comp

Date

Type

Num

Name

Memo/Description

Split

Amount

Balance

01/13/2012

Journal Entry

625

-SPLIT-

1,291.00

Total for Post Petition Unpaid - Pure Comp

1,291.00

Post Petition Unpaid - RLF

01/06/2012

Journal Entry

620

-SPLIT-

22,732.33

01/10/2012

Journal Entry

622

-SPLIT-

-3,000.00

19,732.33

01/31/2012

Journal Entry

640

-SPLIT-

19,828.62

39,560.95

Total for Post Petition Unpaid - RLF

39,560.95

Post Petition Unpaid - Talbott

01/02/2012

Journal Entry

614

-SPLIT-

-57,011.95

01/14/2012

Journal Entry

626

-SPLIT-

8,423.13

-48,588.82

01/28/2012

Journal Entry

636

-SPLIT-

5,577.94

-43,010.88

Total for Post Petition Unpaid - Talbott

-43,010.88

Post Petition Due To DBS

01/02/2012

Journal Entry

611

-SPLIT-

96,011.45

01/06/2012

Journal Entry

621

-SPLIT-

1,306.50

97,317.95

Total for Post Petition Due To DBS

97,317.95

Interest Income

01/03/2012

Journal Entry

637

-SPLIT-

4.07

01/31/2012

Journal Entry

639

-SPLIT-

4.19

8.26

Total for Interest Income

8.26

Bank Charges

01/03/2012

Journal Entry

615

-SPLIT-

70.14

01/31/2012

Journal Entry

638

-SPLIT-

6,000.00

6,070.14

01/31/2012

Journal Entry

635

-SPLIT-

5.10

6,075.24

Total for Bank Charges

6,075.24

Contractor - Talbott

01/02/2012

Journal Entry

614

-SPLIT-

-0.50

01/14/2012

Journal Entry

626

-SPLIT-

8,062.50

8,062.00

01/28/2012

Journal Entry

636

-SPLIT-

5,500.00

13,562.00

Total for Contractor - Talbott

13,562.00

Contractor - Talbott - Expenses

01/14/2012

Journal Entry

626

-SPLIT-

360.63

01/28/2012

Journal Entry

636

-SPLIT-

77.94

438.57

Total for Contractor - Talbott - Expenses

438.57

Kurtzman Carson

01/27/2012

Journal Entry

633

-SPLIT-

3,229.50

Total for Kurtzman Carson

3,229.50

Legal & Professional Fees

01/27/2012

Journal Entry

631

-SPLIT-

800.00

Total for Legal & Professional Fees

800.00

Office Expenses

01/05/2012

Journal Entry

617

-SPLIT-

53.94

01/06/2012

Journal Entry

619

-SPLIT-

50.90

104.84

01/13/2012

Journal Entry

625

-SPLIT-

1,291.00

1,395.84

Total for Office Expenses

1,395.84

Payroll

Date

Type

Num

Name

Memo/Description

Split

Amount

Balance

01/05/2012

Journal Entry

617

-SPLIT-

3,306.50

01/13/2012

Journal Entry

624

-SPLIT-

5,875.00

9,181.50

01/27/2012

Journal Entry

632

-SPLIT-

5,250.00

14,431.50

Total for Payroll

14,431.50

Post Petition Accrued Exp - Blank Rome

01/17/2012

Journal Entry

629

-SPLIT-

82,345.68

01/31/2012

Journal Entry

641

-SPLIT-

134,688.62

217,034.30

Total for Post Petition Accrued Exp - Blank Rome

217,034.30

Post Petition Accrued Exp - JH C

01/17/2012

Journal Entry

627

-SPLIT-

18,344.38

Total for Post Petition Accrued Exp - JH C

18,344.38

Post Petition Accrued Exp - MOGR

01/31/2012

Journal Entry

643

-SPLIT-

27,535.84

Total for Post Petition Accrued Exp - MOGR

27,535.84

Post Petition Accrued Exp - PH

01/10/2012

Journal Entry

623

-SPLIT-

121,605.40

Total for Post Petition Accrued Exp - PH

121,605.40

Post Petition Accrued Exp - RLF

01/06/2012

Journal Entry

620

-SPLIT-

22,732.33

01/10/2012

Journal Entry

622

-SPLIT-

-3,000.00

19,732.33

01/31/2012

Journal Entry

640

-SPLIT-

19,828.62

39,560.95

Total for Post Petition Accrued Exp - RLF

39,560.95

Postage

01/13/2012

Journal Entry

624

-SPLIT-

33.78

01/27/2012

Journal Entry

632

-SPLIT-

17.81

51.59

Total for Postage

51.59

Travel

01/13/2012

Journal Entry

624

-SPLIT-

27.75

01/27/2012

Journal Entry

632

-SPLIT-

51.00

78.75

Total for Travel

78.75

US Trustee

01/27/2012

Journal Entry

630

-SPLIT-

8,450.00

Total for US Trustee

8,450.00


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/02/2012

Account	Debit	Credit
B of A Checking	$96,011.45
Post Petition Due to DBS		$96,011.45

Totals	$96,011.45	$96,011.45

Memo: Record Intercompany Transfer


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/02/2012

Account	Debit	Credit
Post Petition Unpaid – McCarthy	$590.28
B of A Checking		$590.28

Totals	$590.28	$590.28

Memo: Pay Post Petition Debts


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/02/2012

Account	Debit	Credit
Post Petition Unpaid – Talbott	$57,011.95
Contractor – Talbott		$0.50
B of A Checking		$57,011.45

Totals	$57,011.45	$57,011.45

Memo: Pay Post Petition Debts


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/03/2011

Account	Debit	Credit
Bank Charges	$70.14
B of A Checking		$70.14

Totals	$70.14	$70.14

Memo: B of A – Dec


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/05/2012

Account	Debit	Credit
Post Petition Unpaid – McCarthy	$37,000.00
Payroll	$3,306.50
Office Expenses	$53.94
B of A Checking		$40,360.44

Totals
	$40,360.44	$40,360.44

Memo: Accrued Payroll 9/24/11 – 12/30/11


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/06/2012

Account	Debit	Credit
B of A Checking	$1,306.50
Post Petition due to DBS		$1,306.50

Totals	$1,306.50	$1,306.50


Memo: Record intercompany transfer to pay post petition debts


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/06/2012

Account	Debit	Credit
Office Expenses	$50.90
B of A Checking		$50.90

Totals	$50.90	$50.90


Memo: W-2 Service Charge


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/27/2012

Account	Debit	Credit
Legal & Professional Fees	$800.00
B of A Checking		$800.00

Totals	$800.00	$800.00


Memo: Green Point – 2011 1099 Prep


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/27/2012

Account	Debit	Credit
US Trustee	$8,450.00
B of A Checking		$8,450.00

Totals	$8,450.00	$8,450.00


Memo: Q4’ 11 + Adjustments by UST


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/31/2012

Account	Debit	Credit
Bank Charges	$5.10
B of A Checking		$5.10

Totals	$5.10	$5.10


Memo: B of A – Jan


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/03/2012

Account	Debit	Credit
PFF Bancorp FDIC QSF	$4.07
Interest Income		$4.07

Totals	$4.07	$4.07


Memo: Interest Received


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/31/2012

Account	Debit	Credit
Bank Charges	$6,000.00
PFF Bancorp FDIC QSF		$6,000.00

Totals	$6,000.00	$6,000.00


Memo: Fees to Wells Fargo


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/31/2012

Account	Debit	Credit
PFF Bancorp FDIC QSF	$4.19
Interest Income		$4.19

Totals	$4.19	$4.19


Memo: Interest earned

PFF Bancorp, Inc.

Profit & Loss

January 2012


	Total
Income
Interest Income		8.26

Total Income	$	8.26
Expenses
Bank Charges		6,075.24
Contractor - Talbott		13,562.00
Contractor - Talbott - Expenses		438.57
Kurtzman Carson		3,229.50
Legal & Professional Fees		800.00
Office Expenses		1,395.84
Payroll		14,431.50
Post Petition Accrued Exp - Blank Rome		217,034.30
Post Petition Accrued Exp - JH C		18,344.38
Post Petition Accrued Exp - MOGR		27,535.84
Post Petition Accrued Exp - PH		121,605.40
Post Petition Accrued Exp - RLF		39,560.95
Postage		51.59
Travel		78.75
US Trustee		8,450.00

Total Expenses	$	472,593.86

Net Operating Income	-$	472,585.60

Net Income	-$	472,585.60

PFF Bancorp, Inc.

Profit & Loss

December 5, 2008 – January 31, 2012


	Total
Income
Interest Income		33,327.46
Lafferty Ch 7 Settlement		2,870.00
Refunds-Allowances		17,200.00
Settlement Funds Received		157,912.20
Workers Comp Experience Refund		10,563.00

Total Income	$	221,872.66
Expenses
Accrued Expenses		0.00
Bank Charges		13,969.02
Bank Charges - Tax A/C’s		-2,549.28
Blank Rome - Expenses		30,697.85
Blank Rome - Fees		1,167,570.20
Commissions & Fees		0.00
Contractor - Talbott		765,618.25
Contractor - Talbott - Expenses		10,420.89
Flaster Greenberg - Expenses		2,711.63
Flaster Greenberg Fees		58,570.28
Interest Expense		0.99
JH Cohn - Expenses		5,472.15
JH Cohn - Fees		726,866.80
Kurtzman Carson		276,097.21
Legal & Professional Fees		298,902.77
Office Expenses		67,212.51
Payroll		753,204.17
PHJW Expenses		24,982.85
PHJW Fees		1,997,643.56
Post Petit Prof - Pending		0.00
Post Petition Accrued Exp - Blank Rome		217,034.30
Post Petition Accrued Exp - JH C		58,346.54
Post Petition Accrued Exp - MOGR		27,535.84
Post Petition Accrued Exp - PH		151,361.41
Post Petition Accrued Exp - RLF		165,663.61
Postage		3,593.59
Progressive Reimb		-202,416.95
RLF - Fees		251,248.88
RLF Expenses		4,778.68
Supplies		383.11
Taxes & Licenses		15,653.23
Travel		17,749.75
US Trustee		50,374.01

Total Expenses	$	6,958,697.85

Net Operating Income	-$	6,736,825.19
Other Income


	Total
Funds Disb to Bancorp From Tax A/C		1,000,000.00
Other Income		125,750.46

Total Other Income	$	1,125,750.46
Other Expenses
Charge Off Invest in PFF B&T		142,517,693.00
Miscellaneous		2,000.20

Total Other Expenses	$	142,519,693.20

Net Other Income	-$	141,393,942.74

Net Income	-$	148,130,767.93

PFF Bancorp, Inc.

Balance Sheet

As of January 31, 2012


	Total
ASSETS
Current Assets
Bank Accounts
B of A Checking		3,681.00
Checking		0.00
Citigroup Margin		700,000.00
M&I Bank Account		1,000,000.00
Money Market -Tax Refund		0.00
Paine Webber Business Svcs.		0.00
PFF Bancorp FDIC QSF		42,322,449.69
Trust Inv A/C		0.00
Wells Fargo Tax Escrow		0.00

Total Bank Accounts	$	44,026,130.69
Other Current Assets
Prepaid - Moffett		4,060.00

Total Other Current Assets	$	4,060.00

Total Current Assets	$	44,030,190.69
Other Assets
Accrued Interest		5,666.00
Accum Comp Gain/Loss 1		136,845.00
Accum Comp Gain/Loss 2		-3,531,160.00
Capital SERP PFF		-377,518.00
Capital Stock Investment		0.00
Common Stock Dist. Def. Comp		1,389,015.00
Common Stock Dist. SERP		641,438.00
Deferred Costs - JR SUB		91,654.00
Interest Receivable		82,351.00
Investment in PFF Real Estate Svcs.		55,000.00
Investment in Trust I		928,000.00
Investment in Trust II		774,000.00
Investment in Trust III		928,000.00
Investment with Subsidiaries		1,307,442.00
Kurtzman Carson Retainer		15,000.00
Net Income/Loss		0.00
Net Income/Loss - DBS		16,886,374.00
Net Income/Loss - GIA		730,807.00
Net Income/Loss - PFF RESI		-29,275.00
Net Income/Loss DBS correction		-33,772,748.00
PFF B&T Cash Dividend		0.00
PFF FAS 115		1,228,035.00


	Total
Prepaid Expenses		33,000.00
Prepaid OTS Assessment		6,357.00
Progressive - Tail		0.00
RLF Retainer		65,940.94
Stock Options Granted		24,911,967.00
Travellers Tail		0.00
US Treasury Bonds - HTM		0.00
US Treasury Bonds - UNAM		953.00
US Treasury Bonds Mkt Value		13,329.00
Valuation Allowance		-1,500,413.00

Total Other Assets	$	11,020,059.94

TOTAL ASSETS	$	55,050,250.63

LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable
Post Petition Debts		0.00
Post Petition Unpaid - BR		217,034.30
Post Petition Unpaid - JH C		58,346.54
Post Petition Unpaid - KCC		22,981.80
Post Petition Unpaid - McCarthy		11,255.34
Post Petition Unpaid - MOGR		27,535.84
Post Petition Unpaid - PH		151,361.41
Post Petition Unpaid - Pure Comp		6,961.90
Post Petition Unpaid - RLF		165,663.61
Post Petition Unpaid - Talbott		14,001.07

Total Accounts Payable	$	675,141.81
Other Current Liabilities
Accrued Expenses Payable		0.00
Due to FDIC - Taxes		0.00
Post Petition Due To DBS		97,317.95
Suspense - NOL Carryback		42,332,157.45

Total Other Current Liabilities	$	42,429,475.40

Total Current Liabilities	$	43,104,617.21
Long Term Liabilities
Accrued Tax Fees		6,311.00
Deferred FIT		-128,004.00
Deferred SIT		-1,378,007.00
FAS 115 FIT		4,132.00
FAS 115 SIT		1,466.00
Intercompany Payable		15.00
Interest Payable - JR SUB Debt		2,743,922.00
Interest Payable - M&I		-106,985.00
Interest Payable - Other Notes		-304,034.00


	Total
Interest Payable - Secured Borrowings		80,821.00
Interest Payable - Swap Fixed		452,506.00
Interest Payable - Swap Variable		-364,583.00
JR SUB Debt I		30,928,000.00
JR SUB Debt II		25,774,000.00
JR SUB Debt III		30,928,000.00
JR SUB Debt MTM		779,740.00
Notes Payable - DBS		-19,280,093.00
Notes Payable M&I		44,000,000.00
Other Accrued Liabilities		2,806,000.00
Secured Borrowings		486,849.00

Total Long Term Liabilities	$	117,430,056.00

Total Liabilities	$	160,534,673.21
Equity
APIC Equity Incentive Plan		5,565,899.00
APIC ESOP		28,709,074.00
APIC Preferred Stock		6,990,000.00
APIC Retained Earnings		-53,645,740.00
APIC SERP		-377,518.00
APIC Stock Options Granted		24,901,591.00
APIC Treasury		-113,220,689.00
APIC Valuation Def Tax		10,376.00
Common Stock		224,811.00
Common Stock Aquired		-86,371.00
Common Stock Dist Def Comp		1,389,015.00
Common Stock Dist SERP		641,438.00
Dividends		81,713,632.00
ISO Stock Options FAS 123R		326,562.00
NQ Stock Options FAS 123R		700,675.00
Opening Balance Equity		-163,427,263.00
Other Comprehensive Earnings		-2,152,951.00
Paid-In Capital or Surplus		224,451,453.00
Preferred Stock		10,000.00
Retained Earnings		-147,617,142.57
Net Income		-591,274.01

Total Equity	-$	105,484,422.58

TOTAL LIABILITIES AND EQUITY	$	55,050,250.63


In re	PFF Bancorp, Inc.	Case No.	08-13127
		Reporting Period:	1/1/12 – 1/31/12

STATUS OF POSTPETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.

Federal

Beginning

Tax Liability

Amount
Withheld or
Accrued

Amount
Paid

Date Paid

Check No.
T

Ending
Tax
Liability

Withholding

NONE

FICA-Employee

NONE

FICA-Employer

NONE

Unemployment

NONE

Income

NONE

Other:

NONE

Total Federal Taxes

NONE

State and Local

Withholding

NONE

Sales

NONE

Excise

NONE

Unemployment

NONE

Real Property

NONE

Personal Property

NONE

Other:

NONE

Total State and Local

NONE

Total Taxes

NONE

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.


Number of Days Past Due
	Current		0-30	31-60		61-90		Over 90		Total
Accounts Payable	$	42,958.25		$	3,229.50	$	6,302.78	$	19,120.42	$	71,610.95
Wages Payable	$	11,125.00								$	11,125.00
Taxes Payable
Rent/Leases-Building
Rent/Leases-Equipment
Secured Debt/Adequate Protection Payments
Professional Fees				$	19,828.62	$	163,967.43	$	408,609.81	$	592,405.86
Amounts Due to Insiders^*
Other: Contractor
Other:
Total Postpetition Debts	$	54,083.25		$	23,058.12	$	170,270.21	$	427,730.23	$	675,141.81

Explain how and when the Debtor intends to pay any past-due postpetition debts.

Amounts will be paid upon release of tax refund monies held in suspense pending authorization from FDIC.

^*“Insider” is defined in 11 U.S.C. Section 101(31).

Post Petition Debts


Firm	Description		Requested		Authorized		Expenses		Total Due
Paul Hastings		4/1/11 - 6/30/11	$	21,287.00	$	17,029.60	$	276.61	$	17,306.21
		7/1/11 - 7/31/11	$	15,560.00	$	12,448.00	$	1.80	$	12,449.80
		8/1/11 - 11/30/11	$	151,524.50	$	121,219.60	$	385.80	$	121,605.40
RLF		4/1/11 - 4/30/11	$	19,180.50	$	15,344.40	$	200.02	$	15,544.42
		5/1/11 - 5/31/11	$	17,422.50	$	13,938.00	$	188.19	$	14,126.19
		6/1/11 - 6/30/11	$	17,975.00	$	14,380.00	$	338.81	$	14,718.81
		7/1/11 - 7/31/11	$	23,334.00	$	18,667.20	$	265.48	$	18,932.68
		8/1/11 - 8/31/11	$	20,128.49	$	15,916.80	$	232.49	$	16,149.29
		9/1/11 - 9/30/11	$	31,607.00	$	25,285.50	$	158.28	$	25,443.78
		10/1/11 - 10/31/11	$	22,550.00	$	18,040.00	$	147.49	$	18,187.49
		11/1/11 - 11/30/11	$	28,090.50	$	22,472.40	$	259.93	$	22,732.33
		12/1/11 - 12/31/11	$	24,646.00	$	19,716.80	$	111.82	$	19,828.62
JH Cohn		4/1/11 - 4/30/11	$	19,588.00	$	15,670.40	$	11.52	$	15,681.92
		5/1/11 - 5/31/11	$	14,013.00	$	11,210.40	$	15.60	$	11,226.00
		6/1/11 - 6/30/11	$	6,134.00	$	4,907.20	$	0.00	$	4,907.20
		7/1/11 - 7/31/11	$	10,223.00	$	8,178.40	$	8.64	$	8,187.04
		8/1/11 - 8/31/11	$	3,445.00	$	2,756.00	$	14.76	$	2,770.76
		9/1/11 - 9/30/11	$	8,132.00	$	6,505.60	$	8.90	$	6,514.50
		10/1/11 - 10/31/11	$	7,739.00	$	6,191.20	$	9.52	$	6,200.72
		11/1/11 - 11/30/11	$	3,573.00	$	2,858.40	$	0.00	$	2,858.40
Blank Rome		4/1/11 - 7/31/11	$	165,826.00	$	132,660.80	$	2,027.82	$	134,688.62
		8/1/11 - 9/30/11	$	40,467.00	$	32,373.60	$	313.30	$	32,686.90
		10/1/11 - 10/31/11	$	40,523.00	$	32,418.40	$	469.08	$	32,887.48
		11/1/11 - 11/30/11	$	20,779.50	$	16,623.60	$	147.70	$	16,771.30
Kurtzman Carson		9/1/11 - 9/30/11		NA	$	7,922.00	$	3,390.11	$	11,312.11
		10/1/11 - 10/31/11		NA	$	3,452.00	$	759.01	$	4,211.01
		11/1/11 - 11/30/11		NA	$	2,823.00	$	1,406.18	$	4,229.18
		12/1/11 - 12/31/11		NA	$	2,384.50	$	845.00	$	3,229.50
RR Donnelley		10/4/2011		NA	$	2,123.10	$	0.00	$	2,123.10
		10/31/2011		NA	$	1,474.20	$	0.00	$	1,474.20
		12/2/2011		NA	$	1,247.40	$	0.00	$	1,247.40
		12/2/2011		NA	$	826.20	$	0.00	$	826.20
		1/23/2012		NA	$	1,291.00	$	0.00	$	1,291.00

Post Petition Debts


Firm	Description		Requested	Authorized		Expenses		Total Due
Moffett & Grigorian		6/30/11 - 1/31/12	NA					$	27,535.84
McCarthy		12/31/11 - 1/13/12	NA	$	5,875.00	$	61.53	$	5,936.53
		1/14/12 - 1/27/12	NA	$	5,250.00	$	68.81	$	5,318.81
Talbott		1/1/12 - 1/14/12	NA	$	8,062.50	$	360.63	$	8,423.13
		1/15/12 - 1/28/12	NA	$	5,500.00	$	77.94	$	5,577.94
Total								$	675,141.81


In re PFF Bancorp, Inc.		08-13127
Debtor		1/1/12 – 1/31/12

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING


Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period					NONE
+ Amounts billed during the period					NONE
- Amounts collected during the period					NONE
Total Accounts Receivable at the end of the reporting period					NONE
Accounts Receivable Aging
0 - 30 days old					NONE
31 -60 days old					NONE
61 - 90 days old					NONE
91+ days old					NONE
Total Accounts Receivable					NONE
Amount considered uncollectible (Bad Debt)					NONE
Accounts Receivable (Net)					NONE

DEBTOR QUESTIONNAIRE


Must be completed each month	Yes	No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		X
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		X
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	X
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X

UNITED STATES BANKRUPTCY COURT

IN THE DISTRICT OF DELAWARE


In re	Glencrest Investment Advisors, Inc.	Case No.	08-13128
		Reporting Period:	1/1/12 - 1/31/12

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.


REQUIRED DOCUMENTS	Form No.		Document Attached	Explanation Attached	Affidavit / Supplement Attached
Schedule of Cash Receipts and Disbursements		MOR-1	YES
Bank Reconciliation (or copies of debtor’s bank reconciliations)		MOR-1a	YES
Schedule of Professional Fees Paid		MOR-1b	YES
Copies of bank statements			YES
Cash disbursements journals			YES
Statement of Operations		MOR-2	YES
Balance Sheet		MOR-3	YES
Status of Post-petition Taxes		MOR-4	YES
Copies of IRS Form 6123 or payment receipt			N/A
Copies of tax returns filed during reporting period			N/A
Summary of Unpaid Post-petition Debts		MOR-4	YES
Listing of aged accounts payable		MOR-4	YES
Accounts Receivable Reconciliation and Aging		MOR-5	YES
Debtor Questionnaire		MOR-5	YES

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


Signature of Debtor		Date

Signature of Joint Debtor		Date

/s/ Kevin McCarthy		February 15, 2012
Signature of Authorized Individual*		Date

Kevin McCarthy		CEO
Printed Name of Authorized Individual		Title of Authorized Individual

*	Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.


In re	Glencrest Investment Advisors, Inc.	Case No.	08-13128
		Reporting Period:	1/1/12 - 1/31/12

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS


	BANK ACCOUNTS						CURRENT MONTH			CUMULATIVE FILING TO DATE
	OPER.			PAYROLL	TAX	OTHER	ACTUAL		PROJECTED	ACTUAL		PROJECTED
CASH BEGINNING OF MONTH	$	93,072.83					$	93,072.83		$	31,278.00
CASH SALES										$	3,516.02
ACCOUNTS RECEIVABLE
LOANS AND ADVANCES
SALE OF ASSETS										$	30,277.00
OTHER (ATTACH LIST)		1,087.83	¹				$	1,087.83		$	66,470.29
TRANSFERS (FROM DIP ACCTS)										$	196,027.42
TOTAL RECEIPTS	$	1,087.83					$	1,087.83		$	296,290.73
NET PAYROLL										$	27,609.67
PAYROLL TAXES
SALES, USE & OTHER TAXES
INVENTORY PURCHASES
SECURED RENTAL/LEASES										$	124,519.58
INSURANCE
ADMINISTRATIVE	$	551.44					$	551.44		$	71,860.26
SELLING
OTHER (ATTACH LIST)
OWNER DRAW*
TRANSFERS (TO DIP ACCTS)										$	4,445.00
PROFESSIONAL FEES
U.S. TRUSTEE QUARTERLY FEES	$	325.00					$	325.00		$	5,850.00
COURT COSTS
TOTAL DISBURSEMENTS	$	876.44					$	876.44		$	234,284.51
NET CASH FLOW
(RECEIPTS LESS DISBURSEMENTS)	$	211.39					$	211.39		$	62,006.22
CASH - END OF MONTH	$	93,284.22					$	93,284.22		$	93,284.22

*	COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED


DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS	$	211.39
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS	$
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)	$
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES	$	211.39

¹	CA Financial Partners – November & December 2011 $1,087.83


Account		9162
Account Name		Glencrest Investment Advisors, Inc.
Reconciliation As of Date		1/31/12


Balance per Bank					$	93,609.22
Deposits in Transit
Date		Amount
	Total
Outstanding Checks
Check # 1152		Amount	$	325.00
	Total				($	325.00	)
Other (List)
Balance per Books					$	93,284.22


In re Glencrest Investment Advisors, Inc.	Case No.	08-13128
	Reporting Period:	1/1/12 - 1/31/12

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month.

Payee

Period
Covered

Amount
Covered

Payor

Check

Amount Paid

Year-To-Date

Number

Date

Fees

Expenses

Fees

Expenses

NONE


Bank of America LOGO	Account Number	9162
	01 01 149 01 M0000 E#	2
CUSTOMER CONNECTION	Last Statement:	12/30/2011
BANK OF AMERICA, N.A.	This Statement:	01/31/2012
DALLAS, TEXAS 75283-2406
	Customer Service
	1-800-342-7722
GLENCREST INVESTMENT ADVISORS, INC.
DEBTOR IN POSSESSION #08-13128
OPERATING ACCOUNT	Page 1 of 2
2058 N. MILLS AVE #139
CLAREMONT CA 91711	Bankruptcy Case Number: 0813128

CUSTOMER CONNECTION ECONOMY CHECKING

Account Summary Information


Statement Period 12/31/2011 – 01/31/2012		Statement Beginning Balance	$	93,622.11
Number of Deposits/Credits	1	Amount of Deposits/Credits	$	1,087.83
Number of Checks	2	Amount of Checks	$	1,100.00
Number of Other Debits	1	Amount of Other Debits	$	0.72
		Statement Ending Balance	$	93,609.22
Number of Enclosures	2
		Service Charge	$	0.72

Deposits and Credits

Date Posted

Customer
Reference

Amount

Description

Bank
Reference

01/12

1,087.83

CA BANKING CENTER DEPOSIT

299705560703934

Withdrawals and Debits

Checks

Check Number

Amount

Date
Posted

Bank
Reference

Check
Number

Amount

Date
Posted

Bank
Reference

1151

550.00

01/03

6192103285

1153

550.00

01/30

7092316299


Other Debits
Date Posted	Customer Reference	Amount		Description	Bank Reference
01/31		$	0.72	FDIC ASSESSMENT


Daily Balances
Date	Ledger Balance		Collected Balance		Date		Ledger Balance		Collected Balance
12/30	$	93,622.11	$	93,622.11		01/19	$	94,159.94	$	94,159.94
01/03	$	93,072.11	$	93,072.11		01/30	$	93,609.94	$	93,609.94
01/12	$	94,159.94	$	93,072.11		01/31	$	93,609.22	$	93,609.22
01/18	$	94,159.94	$	94,094.68

*	The preceding check(s) is still outstanding or has been included in a previous statement or is included in the ‘Other Debits’ section as an ACH paperless transaction.


	Account Number		9162
CUSTOMER CONNECTION	01 01 149 01 M0000 E#		2
BANK OF AMERICA, N.A.	Last Statement:	12/30/2011
DALLAS, TEXAS 75283-2406	This Statement:	01/31/2012
	Customer Service
	1-800-342-7722
GLENCREST INVESTMENT ADVISORS, INC.

	Page 2 of 2

	Bankruptcy Case Number: 0813128

IMPORTANT INFORMATION

CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.

*	Tell us your name and account number

*	Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information

*	Tell us the dollar amount of the suspected error.

For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.

DIRECT DEPOSITS.

REPORTING OTHER PROBLEMS.

Glencrest Investment Advisors, Inc.

Transaction Detail by Account

January 2012

Date

Type

Num

Name

Memo/Description

Split

Amount

Balance

B of A Checking

01/03/2012

Journal Entry

294

-SPLIT-

-0.72

01/10/2012

Journal Entry

295

-SPLIT-

1,087.83

1,087.11

01/21/2012

Journal Entry

296

-SPLIT-

-550.00

537.11

01/27/2012

Journal Entry

297

-SPLIT-

-325.00

212.11

01/31/2012

Journal Entry

299

-SPLIT-

-0.72

211.39

Total for B of A Checking

211.39

CA Financial Ptnr Income

01/10/2012

Journal Entry

295

-SPLIT-

1,087.83

Total for CA Financial Ptnr Income

1,087.83

Bank Charges

01/03/2012

Journal Entry

294

-SPLIT-

0.72

01/31/2012

Journal Entry

299

-SPLIT-

0.72

1.44

Total for Bank Charges

1.44

Reliable Self Storage

01/21/2012

Journal Entry

296

-SPLIT-

550.00

Total for Reliable Self Storage

550.00

US Trustee

01/27/2012

Journal Entry

297

-SPLIT-

325.00

Total for US Trustee

325.00


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/03/2012

Account	Debit	Credit
Bank Charges	$0.72
B of A Checking		$0.72

Totals	$0.72	$0.72

Memo: B of A – Dec


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/10/2012

Account	Debit	Credit
B of A Checking	$1,087.83
CA Financial Ptnr Income		$1,087.83

Totals	$1,087.83	$1,087.83

Memo: Nov & Dec ’11 (33 & 34 of 48)


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/21/2012

Account	Debit	Credit
Reliable Self Storage	$550.00
B of A Checking		$550.00

Totals	$550.00	$550.00

Memo: Feb ‘12


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/27/2012

Account	Debit	Credit
US Trustee	$325.00
B of A Checking		$325.00

Totals	$325.00	$325.00

Memo: Q4 ‘11


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/31/2012

Account	Debit	Credit
Bank Charges	$0.72
B of A Checking		$0.72

Totals	$0.72	$0.72

Memo: B of A – Jan

Glencrest Investment Advisors, Inc.

Profit & Loss

January 2012


	Total
Income
CA Financial Ptnr Income		1,087.83

Total Income	$	1,087.83
Expenses
Bank Charges		1.44
Reliable Self Storage		550.00
US Trustee		325.00

Total Expenses	$	876.44

Net Operating Income	$	211.39

Net Income	$	211.39

Glencrest Investment Advisors, Inc.

Profit & Loss

December 5, 2008 – January 31, 2012


	Total
Income
Ameritrade Close Out		22,111.54
CA Financial Ptnr Income		18,099.44
Fees Billed		3,723.54
Misc Asset Sales - Claremont		30,277.00
Rental Income Palm Desert		27,573.93
Sublease - PFF		6,279.10
Trailer Income		3,263.56

Total Income	$	111,328.11
Expenses
Bank Charges		620.80
Computek I.T.		1,275.00
I 365 Data Storage		20,751.64
Janitorial - Claremont		1,720.00
Janitorial - Palm Desert		560.00
Legal & Professional Fees		-7,097.45
Office Expenses		4,028.35
Other General and Admin Expenses		4,141.78
Payroll Expenses		27,603.90
Reliable Self Storage		17,587.74
Rent - Claremont		93,547.58
Rent - Palm Desert		32,194.67
Supplies		-233.34
Taxes & Licenses		2,480.41
US Trustee		5,850.00
Utilities		2,500.98
Utilities - Gas Co		939.56
Utilities - Phone and Data		13,180.03
Utilities - SCE		7,260.65
Utilities - Siemens		848.52
Utilities - Water		15.14

Total Expenses	$	229,775.96

Net Operating Income	-$	118,447.85
Other Income
Other Income		12,419.88

Total Other Income	$	12,419.88
Other Expenses
Miscellaneous		54.11

Total Other Expenses	$	54.11

Net Other Income	$	12,365.77

Net Income	-$	106,082.08

Glencrest Investment Advisors, Inc.

Balance Sheet

As of January 31, 2012


	Total
ASSETS
Current Assets
Bank Accounts
B of A Checking		93,284.22
PFF Checking		0.00
Prepaid Rent - Claremont		0.00

Total Bank Accounts	$	93,284.22

Total Current Assets	$	93,284.22
Other Assets
Advances to Trust		80,000.00
Lease Deposit		0.00
Net Income/Loss GIS		58,822.00
Prepaid - Other		17,680.08
Prepaid A/P		23,437.00
Prepaid Rent & CAM - Claremont		0.00
Prepaid Rent - Palm Desert		0.00
Prin Rec FHLMC SEC Fixed		2,916.92
Property & Equipment		492,486.00
Utility Deposit		0.00
Valuation Allowance		-43,570.00

Total Other Assets	$	631,772.00

TOTAL ASSETS	$	725,056.22

LIABILITIES AND EQUITY
Liabilities
Long Term Liabilities
125 Deductions		5,150.00
401K		469.00
Accrued Payroll		8,000.00
Accrued Vacation		34,313.00
Deferred Federal Inc Tax		93,597.00
Deferred State Franchise Tax		-137,167.00
Employer FICA Tax Payable		27.00
Fed Inc Tax W/H		178.00
Federal Employee FICA		27.00
Intercompany Payable		14,433.00
MISC Unapplied Funds		-224.00
Other Accrued Liability		40,000.00
State Tax W/H		34.00
Sublease Deposit		1.00

Total Long Term Liabilities	$	58,838.00

Total Liabilities	$	58,838.00


	Total
Equity
APIC		6,870,597.00
APIC - Retained Earnings		-6,206,986.00
Common Stock		3.00
Opening Balance Equity		-1.00
Retained Earnings		2,428.32
Net Income		176.90

Total Equity	$	666,218.22

TOTAL LIABILITIES AND EQUITY	$	725,056.22


In re	Glencrest Investment Advisors, Inc.	Case No.	08-13128
		Reporting Period:	1/1/12 – 1/31/12

STATUS OF POSTPETITION TAXES

Federal

Beginning

Tax Liability

Amount Withheld or
Accrued

Amount

Paid

Date Paid

Check No.

Ending

Tax

Liability

Withholding

NONE

FICA-Employee

NONE

FICA-Employer

NONE

Unemployment

NONE

Income

NONE

Other:

NONE

Total Federal Taxes

NONE

State and Local

Withholding

NONE

Sales

NONE

Excise

NONE

Unemployment

NONE

Real Property

NONE

Personal Property

NONE

Other:

NONE

Total State and Local

NONE

Total Taxes

NONE

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

Number of Days Past Due

Current

0-30

31-60

61-90

Over 90

Total

Accounts Payable

NONE

Wages Payable

NONE

Taxes Payable

NONE

Rent/Leases-Building

NONE

Rent/Leases-Equipment

NONE

Secured Debt/Adequate Protection Payments

NONE

Professional Fees

NONE

Amounts Due to Insiders^*

NONE

Other:

NONE

Other:

NONE

Total Postpetition Debts

NONE

Explain how and when the Debtor intends to pay any past-due postpetition debts.

*	“Insider” is defined in 11 U.S.C. Section 101(31).


In re Glencrest Investment Advisors, Inc.		08-13128
Debtor		1/1/12 – 1/31/12

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING


Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period				NONE
+ Amounts billed during the period				NONE
- Amounts collected during the period				NONE
Total Accounts Receivable at the end of the reporting period				NONE
Accounts Receivable Aging
0 - 30 days old				NONE
31 -60 days old				NONE
61 - 90 days old				NONE
91+ days old				NONE
Total Accounts Receivable				NONE
Amount considered uncollectible (Bad Debt)				NONE
Accounts Receivable (Net)				NONE

DEBTOR QUESTIONNAIRE


Must be completed each month	Yes	No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		X
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		X
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	X
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X

UNITED STATES BANKRUPTCY COURT

IN THE DISTRICT OF DELAWARE


In re	Glencrest Insurance Services, Inc.	Case No.	08-13131
		Reporting Period:	1/1/12 - 1/31/12

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.


REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached	Affidavit / Supplement Attached
Schedule of Cash Receipts and Disbursements	MOR-1	YES
Bank Reconciliation (or copies of debtor’s bank reconciliations)	MOR-1a	YES
Schedule of Professional Fees Paid	MOR-1b	YES
Copies of bank statements		YES
Cash disbursements journals		YES
Statement of Operations	MOR-2	YES
Balance Sheet	MOR-3	YES
Status of Post-petition Taxes	MOR-4	YES
Copies of IRS Form 6123 or payment receipt		N/A
Copies of tax returns filed during reporting period		N/A
Summary of Unpaid Post-petition Debts	MOR-4	YES
Listing of aged accounts payable	MOR-4	YES
Accounts Receivable Reconciliation and Aging	MOR-5	YES
Debtor Questionnaire	MOR-5	YES

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


Signature of Debtor		Date

Signature of Joint Debtor		Date

/s/ Kevin McCarthy		February 15, 2012
Signature of Authorized Individual*		Date

Kevin McCarthy		CEO
Printed Name of Authorized Individual		Title of Authorized Individual

*	Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.


In re	Glencrest Insurance Services, Inc.	Case No.	08-13131
		Reporting Period:	1/1/12 - 1/31/12

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS


	BANK ACCOUNTS						CURRENT MONTH				CUMULATIVE FILING TO DATE
	OPER.			PAYROLL	TAX	OTHER	ACTUAL			PROJECTED	ACTUAL		PROJECTED
CASH BEGINNING OF MONTH	$	91,196.37					$	91,196.37			$	44,046.24
RECEIPTS
CASH SALES											$	51,132.26
ACCOUNTS RECEIVABLE
LOANS AND ADVANCES
SALE OF ASSETS											$	307.22
OTHER (ATTACH LIST)
TRANSFERS (FROM DIP ACCTS)
TOTAL RECEIPTS											$	51,439.48
DISBURSEMENTS
NET PAYROLL
PAYROLL TAXES
SALES, USE & OTHER TAXES
INVENTORY PURCHASES
SECURED RENTAL/LEASES
INSURANCE
ADMINISTRATIVE	$	1.40					$	1.40			$	390.75
SELLING
OTHER (ATTACH LIST)
OWNER DRAW*
TRANSFERS (TO DIP ACCTS)
PROFESSIONAL FEES
U.S. TRUSTEE QUARTERLY FEES	$	325.00					$	325.00			$	4,225.00
COURT COSTS
TOTAL DISBURSEMENTS	$	326.40					$	326.40			$	4,615.75
NET CASH FLOW
(RECEIPTS LESS DISBURSEMENTS)	($	326.40	)				($	326.40	)		$	46,823.73
CASH - END OF MONTH	$	90,869.97					$	90,869.97			$	90,869.97

*	COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED


DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS	$	326.40
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS	$
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)	$
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES	$	326.40


Account		8202
Account Name		Glencrest Insurance Services, Inc.
Reconciliation As of Date		1/31/12


Balance per Bank			$	91,194.97

Deposits in Transit
Date		Amount
	Total
Outstanding Checks
Check # 1015		Amount $325.00
	Total		($	325.00	)
Other (List)

Balance per Books			$	90,869.97


In re Glencrest Insurance Services, Inc.	Case No.	08-13131
	Reporting Period:	1/1/12 -1/31/12

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month.

Payee

Period
Covered

Amount
Covered

Payor

Check

Amount Paid

Year-To-Date

Number

Date

Fees

Expenses

Fees

Expenses

NONE


Bank of America LOGO	Account Number	8202
	01 01 149 01 M0000 E#	0
CUSTOMER CONNECTION	Last Statement:	12/30/2011
BANK OF AMERICA, N.A.	This Statement:	01/31/2012
DALLAS, TEXAS 75283-2406
	Customer Service
	1-800-342-7722
GLENCREST INSURANCE SERVICES, INC.
DEBTOR IN POSSESSION #08-13131
2058 N. MILLS AVE #139	Page 1 of 3
CLAREMONT CA 91711
	Bankruptcy Case Number: 0813131

CUSTOMER CONNECTION ECONOMY CHECKING

Account Summary Information


Statement Period 12/31/2011 – 01/31/2012		Statement Beginning Balance	$	91,195.67
Number of Deposits/Credits	0	Amount of Deposits/Credits	$	0.00
Number of Checks	0	Amount of Checks	$	0.00
Number of Other Debits	1	Amount of Other Debits	$	0.70
		Statement Ending Balance	$	91,194.97
Number of Enclosures	0
		Service Charge	$	0.70


Withdrawals and Debits
Other Debits
Date Posted	Customer Reference	Amount		Description	Bank Reference
01/31		$	0.70	FDIC ASSESSMENT


	Daily Balances
Date	Ledger Balance		Collected Balance		Date		Ledger Balance		Collected Balance
12/30	$	91,195.67	$	90,940.42		01/05	$	91,195.67	$	91,195.67
01/04	$	91,195.67	$	91,180.37		01/31	$	91,194.97	$	91,194.97


	Account Number	8202
CUSTOMER CONNECTION	01 01 149 01 M0000 E#	0
BANK OF AMERICA, N.A.	Last Statement:	12/30/2011
DALLAS, TEXAS 75283-2406	This Statement:	01/31/2012
	Customer Service
	1-800-342-7722

GLENCREST INSURANCE SERVICES, INC.
	Page 2 of 2
	Bankruptcy Case Number: 0813131

IMPORTANT INFORMATION

CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.

*	Tell us your name and account number

*	Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information

*	Tell us the dollar amount of the suspected error.

For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.

DIRECT DEPOSITS.

REPORTING OTHER PROBLEMS.

Glencrest Insurance Services, Inc.

Transaction Detail by Account

January 2012

Date

Type

Num

Name

Memo/Description

Split

Amount

Balance

B of A Checking

01/03/2012

Journal Entry

124

-SPLIT-

-0.70

01/27/2012

Journal Entry

125

-SPLIT-

-325.00

-325.70

01/31/2012

Journal Entry

126

-SPLIT-

-0.70

-326.40

Total for B of A Checking

-326.40

Bank Charges

01/03/2012

Journal Entry

124

-SPLIT-

0.70

01/31/2012

Journal Entry

126

-SPLIT-

0.70

1.40

Total for Bank Charges

1.40

US Trustee

01/27/2012

Journal Entry

125

-SPLIT-

325.00

Total for US Trustee

325.00


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/03/2012

Account	Debit	Credit
Bank Charges	$0.70
B of A Checking		$0.70

Totals	$0.70	$0.70

Memo: B of A – Dec


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/27/2012

Account	Debit	Credit
US Trustee	$325.00
B of A Checking		$325.00

Totals	$325.00	$325.00

Memo: Q4 ‘11


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/31/2012

Account	Debit	Credit
Bank Charges	$0.70
B of A Checking		$0.70

Totals	$0.70	$0.70

Memo: B of A – Jan

Glencrest Insurance Services, Inc.

Profit & Loss

January 2012


	Total
Income
Total Income
Expenses
Bank Charges		1.40
US Trustee		325.00

Total Expenses	$	326.40

Net Operating Income	-$	326.40

Net Income	-$	326.40

Glencrest Insurance Services, Inc.

Profit & Loss

December 5, 2008 – January 31, 2012


	Total
Income
Fees Billed		51,132.26

Total Income	$	51,132.26
Expenses
Bank Charges		390.75
Taxes & Licenses		0.00
US Trustee		4,225.00

Total Expenses	$	4,615.75

Net Operating Income	$	46,516.51
Other Income
Other Income		307.22

Total Other Income	$	307.22

Net Other Income	$	307.22

Net Income	$	46,823.73

Glencrest Insurance Services, Inc.

Balance Sheet

As of January 31, 2012


	Total
ASSETS
Current Assets
Bank Accounts
B of A Checking		90,869.97
Operating Acct		0.00
PFF Checking		0.00

Total Bank Accounts	$	90,869.97

Total Current Assets	$	90,869.97
Other Assets
Prepaid Expenses and Other Assets		36,194.00
Property & Equipment		16,201.00

Total Other Assets	$	52,395.00

TOTAL ASSETS	$	143,264.97

LIABILITIES AND EQUITY
Liabilities
Long Term Liabilities
Deferred Tax		36,194.00
Fees Payable		-322.00

Total Long Term Liabilities	$	35,872.00

Total Liabilities	$	35,872.00
Equity
APIC - R/E Dividends Paid		-5,440,000.00
APIC - Retained Earnings		5,480,569.00
Common Stock		20,000.00
Opening Balance Equity		0.24
Retained Earnings		46,895.58
Net Income		-71.85

Total Equity	$	107,392.97

TOTAL LIABILITIES AND EQUITY	$	143,264.97


In re	Glencrest Insurance Services, Inc.	Case No.	08-13131
		Reporting Period:	1/1/12 - 1/31/12

STATUS OF POSTPETITION TAXES

Federal

Beginning
Tax Liability

Amount
Withheld or
Accrued

Amount Paid

Date Paid

Check No. T

Ending Tax
Liability

Withholding

NONE

FICA-Employee

NONE

FICA-Employer

NONE

Unemployment

NONE

Income

NONE

Other:

NONE

Total Federal Taxes

NONE

State and Local

Withholding

NONE

Sales

NONE

Excise

NONE

Unemployment

NONE

Real Property

NONE

Personal Property

NONE

Other:

NONE

Total State and Local

NONE

Total Taxes

NONE

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

Number of Days Past Due

Current

0-30

31-60

61-90

Over 90

Total

Accounts Payable

NONE

Wages Payable

NONE

Taxes Payable

NONE

Rent/Leases-Building

NONE

Rent/Leases-Equipment

NONE

Secured Debt/Adequate Protection Payments

NONE

Professional Fees

NONE

Amounts Due to Insiders^*

NONE

Other:

NONE

Other:

NONE

Total Postpetition Debts

NONE

Explain how and when the Debtor intends to pay any past-due postpetition debts.

*	“Insider” is defined in 11 U.S.C. Section 101(31).


In re Glencrest Insurance Services, Inc.		08-13131
Debtor		12/1-1/31/12

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING


Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period				NONE
+ Amounts billed during the period				NONE
- Amounts collected during the period				NONE
Total Accounts Receivable at the end of the reporting period				NONE
Accounts Receivable Aging
0 - 30 days old				NONE
31 -60 days old				NONE
61 - 90 days old				NONE
91+ days old				NONE
Total Accounts Receivable				NONE
Amount considered uncollectible (Bad Debt)				NONE
Accounts Receivable (Net)				NONE

DEBTOR QUESTIONNAIRE


Must be completed each month	Yes	No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		X
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		X
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	X
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X

UNITED STATES BANKRUPTCY COURT

IN THE DISTRICT OF DELAWARE


In re	Diversified Builder Services, Inc.	Case No.	08-13129
		Reporting Period:	1/1/12 - 1/31/12

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.

REQUIRED DOCUMENTS

Form No.

Document
Attached

Explanation
Attached

Affidavit /
Supplement
Attached

Schedule of Cash Receipts and Disbursements

MOR-1

YES

Bank Reconciliation (or copies of debtor’s bank reconciliations)

MOR-1a

YES

Schedule of Professional Fees Paid

MOR-1b

YES

Copies of bank statements

YES

Cash disbursements journals

YES

Statement of Operations

MOR-2

YES

Balance Sheet

MOR-3

YES

Status of Post-petition Taxes

MOR-4

YES

Copies of IRS Form 6123 or payment receipt

N/A

Copies of tax returns filed during reporting period

N/A

Summary of Unpaid Post-petition Debts

MOR-4

YES

Listing of aged accounts payable

MOR-4

YES

Accounts Receivable Reconciliation and Aging

MOR-5

YES

Debtor Questionnaire

MOR-5

YES

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


Signature of Debtor		Date

Signature of Joint Debtor		Date

/s/ Kevin McCarthy		February 15, 2012
Signature of Authorized Individual*		Date

Kevin McCarthy		CEO
Printed Name of Authorized Individual		Title of Authorized Individual

*	Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.


In re	Diversified Builder Services, Inc.	Case No.	08-13129
		Reporting Period:	1/1/12 - 1/31/12

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS


	BANK ACCOUNTS						CURRENT MONTH				CUMULATIVE FILING TO DATE
	OPER.			PAYROLL	TAX	OTHER	ACTUAL			PROJECTED	ACTUAL		PROJECTED
CASH BEGINNING OF MONTH	$	1,834,945.98					$	1,834,945.98			$	1,186,035.00
RECEIPTS
CASH SALES
ACCOUNTS RECEIVABLE
LOANS AND ADVANCES
SALE OF ASSETS											$	350,000.00
OTHER (ATTACH LIST)											$	333,082.20
TRANSFERS (FROM DIP ACCTS)
TOTAL RECEIPTS											$	683,082.20
DISBURSEMENTS
NET PAYROLL
PAYROLL TAXES
SALES, USE & OTHER TAXES
INVENTORY PURCHASES
SECURED RENTAL/LEASES
INSURANCE
ADMINISTRATIVE	$	27.51					$	27.51			$	30,199.39
SELLING
OTHER (ATTACH LIST)
TRANSFER TO BANCORP	$	97,317.95					$	97,317.95			$	97,317.95
OWNER DRAW*
TRANSFERS (TO DIP ACCTS)
PROFESSIONAL FEES
U.S. TRUSTEE QUARTERLY FEES	$	650.00					$	650.00			$	4,550.00
COURT COSTS
TOTAL DISBURSEMENTS	$	97,995.46					$	97,995.46			$	132,166.68
NET CASH FLOW
(RECEIPTS LESS DISBURSEMENTS)	($	97,995.46	)				($	97,995.46	)		$	550,915.52
CASH - END OF MONTH	$	1,736,950.52					$	1,736,950.52			$	1,736,950.52

*	COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED


DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS	$	97,995.46
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS	$	97,317.95
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)	$
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES	$	677.51

Account 9188

Account Name Diversified Builder Services, Inc.

Reconciliation As of Date 1/31/12


Balance per Bank				$	1,737,600.52

Deposits in Transit Date		Amount
	Total
Outstanding Checks
Check # 1028		Amount	$650.00
	Total				($650.00)
Other (List)

Balance per Books				$	1,736,950.52


In re Diversified Builder Services, Inc.	Case No.	08-13129
	Reporting Period:	1/1/12 - 1/31/12

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month.

Payee

Period
Covered

Amount
Covered

Payor

Check

Amount Paid

Year-To-Date

Number

Date

Fees

Expenses

Fees

Expenses

NONE


Bank of America LOGO	Account Number 9188
	01 01 149 01 M0000 E#	2
CUSTOMER CONNECTION	Last Statement:	12/30/2011
BANK OF AMERICA, N.A.	This Statement:	01/31/2012
DALLAS, TEXAS 75283-2406
	Customer Service
	1-800-342-7722
DIVERSIFIED BUILDER SERVICES, INC.
DEBTOR IN POSSESSION #08-13129
OPERATING ACCOUNT	Page 1 of 2
2058 N. MILLS AVE #139
CLAREMONT CA 91711	Bankruptcy Case Number: 0813129

CUSTOMER CONNECTION ECONOMY CHECKING

Account Summary Information


Statement Period 12/31/2011 – 01/31/2012		Statement Beginning Balance	$	1,834,931.85
Number of Deposits/Credits	0	Amount of Deposits/Credits	$	0.00
Number of Checks	2	Amount of Checks	$	97,317.95
Number of Other Debits	1	Amount of Other Debits	$	13.38
		Statement Ending Balance	$	1,737,600.52
Number of Enclosures	2
		Service Charge	$	13.38

Deposits and Credits

Withdrawals and Debits

Checks

Check

Number

Amount

Date
Posted

Bank

Reference

Check

Number

Amount

Date

Posted

Bank
Reference

1018

96,011.45

01/04

6692770010

1019

1,306.50

01/18

9492319335

Other Debits

Date

Posted

Customer
Reference

Amount

Description

Bank
Reference

01/31

13.38

FDIC ASSESSMENT


Daily Balances
Date	Ledger Balance		Collected Balance		Date		Ledger Balance		Collected Balance
12/30	$	1,834,931.85	$	1,834,931.85		01/18	$	1,737,613.90	$	1,737,613.90
01/04	$	1,738,920.40	$	1,738,920.40		01/31	$	1,737,600.52	$	1,737,600.52


	Account Number	9188
CUSTOMER CONNECTION	01 01 149 01 M0000 E#	2
BANK OF AMERICA, N.A.	Last Statement:	12/30/2011
DALLAS, TEXAS 75283-2406	This Statement:	01/31/2012

	Customer Service
	1-800-342-7722
DIVERSIFIED BUILDER SERVICES, INC.
	Page 2 of 2
		Bankruptcy Case Number: 0813129

IMPORTANT INFORMATION

CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.

*	Tell us your name and account number

*	Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information

*	Tell us the dollar amount of the suspected error.

For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.

DIRECT DEPOSITS.

REPORTING OTHER PROBLEMS.

Diversified Builder Services, Inc.

Transaction Detail by Account

January 2012

Date

Type

Num

Name

Memo/
Description

Split

Amount

Balance

B of A Checking

01/02/2012

Journal Entry

-SPLIT-

-96,011.45

01/03/2012

Journal Entry

-SPLIT-

-14.13

-96,025.58

01/06/2012

Journal Entry

-SPLIT-

-1,306.50

-97,332.08

01/27/2012

Journal Entry

-SPLIT-

-650.00

-97,982.08

01/31/2012

Journal Entry

-SPLIT-

-13.38

-97,995.46

Total for B of A Checking

-97,995.46

Post Petition Due From PFF Bancorp

01/02/2012

Journal Entry

-SPLIT-

96,011.45

01/06/2012

Journal Entry

-SPLIT-

1,306.50

97,317.95

Total for Post Petition Due From PFF Bancorp

97,317.95

Bank Charges

01/03/2012

Journal Entry

-SPLIT-

14.13

01/31/2012

Journal Entry

-SPLIT-

13.38

27.51

Total for Bank Charges

27.51

U S Trustee

01/27/2012

Journal Entry

-SPLIT-

650.00

Total for U S Trustee

650.00


Journal Entry		Adjusting Journal Entry: Recent

Date: 01/02/2012

Account	Debit	Credit
Post Petition due from PFF Bancorp	$96,011.45
B of A Checking		$96,011.45

Totals	$96,011.45	$96,011.45

Memo: Record Intercompany Transfer


Journal Entry		Adjusting Journal Entry: Recent

Date: 01/03/2012

Account	Debit	Credit
Bank Charges	$14.13
B of A Checking		$14.13

Totals	$14.13	$14.13

Memo: B of A – Dec


Journal Entry		Adjusting Journal Entry: Recent

Date: 01/06/2012

Account	Debit	Credit
Post Petition due from PFF Bancorp	$1,306.50
B of A Checking		$1,306.50

Totals	$1,306.50	$1,306.50

Memo: Intercompany transfer for post petition debt payments


Journal Entry		Adjusting Journal Entry: Recent

Date: 01/27/2012

Account	Debit	Credit
US Trustee	$650.00
B of A Checking		$650.00

Totals	$650.00	$650.00

Memo: Q4 ‘11


Journal Entry		Adjusting Journal Entry: Recent

Date: 01/31/2012

Account	Debit	Credit
Bank Charges	$13.38
B of A Checking		$13.38

Totals	$13.38	$13.38

Memo: B of A - Jan

Diversified Builder Services, Inc.

Profit & Loss

January 2012


	Total
Income
Total Income
Expenses
Bank Charges		27.51
U S Trustee		650.00

Total Expenses	$	677.51

Net Operating Income	-$	677.51

Net Income	-$	677.51

Diversified Builder Services, Inc.

Profit & Loss

December 5, 2008 – January 31, 2012


	Total
Income
Lafferty Ch 7 Settlement		105,902.97
Lafferty Tax Refunds		227,179.23

Total Income	$	333,082.20
Expenses
Appraisal Services		1,000.00
Bank Charges		858.00
Moffett & Grigorian Fees		28,341.39
Taxes & Licenses		0.00
U S Trustee		4,550.00

Total Expenses	$	34,749.39

Net Operating Income	$	298,332.81
Other Income
Other Income		-99.34

Total Other Income	-$	99.34

Net Other Income	-$	99.34

Net Income	$	298,233.47

Diversified Builder Services, Inc.

Balance Sheet

As of January 31, 2012


	Total
ASSETS
Current Assets
Bank Accounts
B of A Checking		1,736,950.52
PFF Checking		0.00
PFF Checking - 10102		0.00

Total Bank Accounts	$	1,736,950.52
Other Current Assets
Post Petition Due From PFF Bancorp		97,317.95

Total Other Current Assets	$	97,317.95

Total Current Assets	$	1,834,268.47
Other Assets
100% Loan Loss - Comm Loans - MI		-300,000.00
Accounts Receivable		288,500.00
Commercial LOC - MI		4,300,000.00
Commercial LOC Contra Asset - CLS		-1,050.00
Def Income - Comm Non Accr		-217,552.00
Partial Charge-Offs Comm. Unsecured		-2,579,081.00
Property & Equipment		7,489.00
Val Allow - FIT Deferred Taxes		1,951,021.00
Val Allow - SIT Deferred Taxes		-6,886,601.00

Total Other Assets	-$	3,437,274.00

TOTAL ASSETS	-$	1,603,005.53

LIABILITIES AND EQUITY
Liabilities
Long Term Liabilities
Accrued Interest - Notes Payable		304,034.00
DBS Insurance Payable		160.00
Deferred Fed Income Taxes		1,951,021.00
Deferred Income		288,500.00
Deferred State Inc Taxes		-6,886,601.00
Intercompany Payable		6.00
Notes Payable		19,280,093.00

Total Long Term Liabilities	$	14,937,213.00

Total Liabilities	$	14,937,213.00
Equity
APIC		28,000,000.00


	Total
APIC - Retained Earnings		-44,838,453.00
Opening Balance Equity		1.00
Retained Earnings		298,985.33
Net Income		-751.86

Total Equity	-$	16,540,218.53

TOTAL LIABILITIES AND EQUITY	-$	1,603,005.53


In re	Diversified Builder Services, Inc.	Case No.	08-13129
		Reporting Period:	1/1/12 - 1/31/12

STATUS OF POSTPETITION TAXES

Federal

Beginning
Tax Liability

Amount
Withheld or
Accrued

Amount
Paid

Date Paid

Check No.
T

Ending
Tax
Liability

Withholding

NONE

FICA-Employee

NONE

FICA-Employer

NONE

Unemployment

NONE

Income

NONE

Other:

NONE

Total Federal Taxes

NONE

State and Local

Withholding

NONE

Sales

NONE

Excise

NONE

Unemployment

NONE

Real Property

NONE

Personal Property

NONE

Other:

NONE

Total State and Local

NONE

Total Taxes

NONE

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

Number of Days Past Due

Current

0-30

31-60

61-90

Over 90

Total

Accounts Payable

NONE

Wages Payable

NONE

Taxes Payable

NONE

Rent/Leases-Building

NONE

Rent/Leases-Equipment

NONE

Secured Debt/Adequate Protection Payments

NONE

Professional Fees

NONE

Amounts Due to Insiders^*

NONE

Other:

NONE

Other:

NONE

Total Postpetition Debts

NONE

Explain how and when the Debtor intends to pay any past-due postpetition debts.

*	“Insider” is defined in 11 U.S.C. Section 101(31).


In re Diversified Builder Services, Inc.		08-13129
Debtor		1/1/12-1/31/12

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING


Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period					$4,300,000.00
- Amounts charged off during the period
- Amounts collected during the period
Total Accounts Receivable at the end of the reporting period					$4,300,000.00
Accounts Receivable Aging
0 - 30 days old
31 - 60 days old
61 - 90 days old
91+ days old					$4,300,000.00
Total Accounts Receivable					$4,300,000.00
Amount considered uncollectible (Bad Debt)					$2,579,081.00
Accounts Receivable (Net)					$1,720,911.00

DEBTOR QUESTIONNAIRE


Must be completed each month	Yes	No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		X
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		X
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	X
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X

UNITED STATES BANKRUPTCY COURT

IN THE DISTRICT OF DELAWARE


In re	PFF Real Estate Services, Inc.	Case No.	08-13130
		Reporting Period:	1/1/12 - 1/31/12

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

Submit copy of report to any official committee appointed in the case.

REQUIRED DOCUMENTS

Form No.

Document
Attached

Explanation
Attached

Affidavit /
Supplement
Attached

Schedule of Cash Receipts and Disbursements

MOR-1

YES

Bank Reconciliation (or copies of debtor’s bank reconciliations)

MOR-1a

YES

Schedule of Professional Fees Paid

MOR-1b

YES

Copies of bank statements

YES

Cash disbursements journals

YES

Statement of Operations

MOR-2

YES

Balance Sheet

MOR-3

YES

Status of Post-petition Taxes

MOR-4

YES

Copies of IRS Form 6123 or payment receipt

N/A

Copies of tax returns filed during reporting period

N/A

Summary of Unpaid Post-petition Debts

MOR-4

YES

Listing of aged accounts payable

MOR-4

YES

Accounts Receivable Reconciliation and Aging

MOR-5

YES

Debtor Questionnaire

MOR-5

YES

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


Signature of Debtor		Date

Signature of Joint Debtor		Date

/s/ Kevin McCarthy Signature of Authorized Individual*		February 15, 2012 Date

Kevin McCarthy Printed Name of Authorized Individual		CEO Title of Authorized Individual

*	Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.


In re	PFF Real Estate Services, Inc.	Case No.	08-13130
		Reporting Period:	1/1/12 - 1/31/12

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS


	BANK ACCOUNTS						CURRENT MONTH				CUMULATIVE FILING TO DATE
	OPER.			PAYROLL	TAX	OTHER	ACTUAL			PROJECTED	ACTUAL			PROJECTED
CASH BEGINNING OF MONTH	$	21,555.70					$	21,555.70			$	25,725.04
RECEIPTS
CASH SALES
ACCOUNTS RECEIVABLE
LOANS AND ADVANCES
SALE OF ASSETS
OTHER (ATTACH LIST)
TRANSFERS (FROM DIP ACCTS)
TOTAL RECEIPTS
DISBURSEMENTS
NET PAYROLL
PAYROLL TAXES
SALES, USE & OTHER TAXES
INVENTORY PURCHASES
SECURED RENTAL/LEASES
INSURANCE
ADMINISTRATIVE	$	0.34					$	0.34			$	269.68
SELLING
OTHER (ATTACH LIST)
OWNER DRAW*
TRANSFERS (TO DIP ACCTS)
PROFESSIONAL FEES
U.S. TRUSTEE QUARTERLY FEES	$	325.00					$	325.00			$	4,225.00
COURT COSTS
TOTAL DISBURSEMENTS	$	325.34					$	325.34			$	4,494.68
NET CASH FLOW
(RECEIPTS LESS DISBURSEMENTS)	($	325.34	)				($	325.34	)		($	4,494.68	)
CASH - END OF MONTH	$	21,230.36					$	21,230.36			$	21,230.36

*	COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED


DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS	$	325.34
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS	$
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)	$
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES	$	325.34

Account 8192

Account Name PFF Real Estate Services, Inc.

Reconciliation As of Date 1/31/12

Balance per Bank

21,555.36

Deposits in Transit

Date

Amount

Total

Outstanding Checks

Check # 1014

Amount

325.00

Total

($325.00)

Other (List)

Balance per Books

21,230.36


In re PFF Real Estate Services, Inc.	Case No.	08-13130
	Reporting Period:	1/1/12 - 1/31/12

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month.

Payee

Period
Covered

Amount
Covered

Payor

Check

Amount Paid

Year-To-Date

Number

Date

Fees

Expenses

Fees

Expenses

NONE


Bank of America LOGO	Account Number	8192
	01 01 149 01 M0000 E#	0
CUSTOMER CONNECTION	Last Statement:	12/30/2011
BANK OF AMERICA, N.A.	This Statement:	01/31/2012
DALLAS, TEXAS 75283-2406
	Customer Service
	1-800-342-7722
PFF REAL ESTATE SERVICES, INC.
DEBTOR IN POSSESSION #08-13130
2058 N. MILLS AVE #139	Page 1 of 2
CLAREMONT CA 91711
	Bankruptcy Case Number: 0813130

CUSTOMER CONNECTION ECONOMY CHECKING

Account Summary Information


Statement Period 12/31/2011 – 01/31/2012		Statement Beginning Balance	$	21,555.53
Number of Deposits/Credits	0	Amount of Deposits/Credits	$	0.00
Number of Checks	0	Amount of Checks	$	0.00
Number of Other Debits	1	Amount of Other Debits	$	0.17
		Statement Ending Balance	$	21,555.36
Number of Enclosures	0
		Service Charge	$	0.17

Withdrawals and Debits

Other Debits

Date

Posted

Customer
Reference

Amount

Description

Bank
Reference

01/31

0.17

FDIC ASSESSMENT


Daily Balances
Date	Ledger Balance		Collected Balance		Date		Ledger Balance		Collected Balance
12/30	$	21,555.53	$	21,555.53		01/31	$	21,555.36	$	21,555.36


	Account Number	8192
CUSTOMER CONNECTION	01 01 149 01 M0000 E#	0
BANK OF AMERICA, N.A.	Last Statement:	12/30/2011
DALLAS, TEXAS 75283-2406	This Statement:	01/31/2012

	Customer Service
	1-800-342-7722

PFF REAL ESTATE SERVICES, INC.
	Page 2 of 2

	Bankruptcy Case Number: 0813130

IMPORTANT INFORMATION

CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.

*	Tell us your name and account number

*	Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information

*	Tell us the dollar amount of the suspected error.

For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.

DIRECT DEPOSITS.

REPORTING OTHER PROBLEMS.

PFF Real Estate Services, Inc.

Transaction Detail by Account

January 2012

Date

Type

Num

Name

Memo/Description

Split

Amount

Balance

B of A Checking

01/03/2012

Journal Entry

-SPLIT-

-0.17

01/27/2012

Journal Entry

-SPLIT-

-325.00

-325.17

01/31/2012

Journal Entry

-SPLIT-

-0.17

-325.34

Total for B of A Checking

-325.34

Bank Charges

01/03/2012

Journal Entry

-SPLIT-

0.17

01/31/2012

Journal Entry

-SPLIT-

0.17

0.34

Total for Bank Charges

0.34

U S Trustee

01/27/2012

Journal Entry

-SPLIT-

325.00

Total for U S Trustee

325.00


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/03/2012

Account	Debit	Credit
Bank Charges	$0.17
B of A Checking		$0.17

Totals	$0.17	$0.17

Memo: B of A – Dec


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/27/2012

Account	Debit	Credit
US Trustee	$325.00
B of A Checking		$325.00

Totals	$325.00	$325.00

Memo: Q4 ‘11


Journal Entry
		Adjusting Journal Entry: Recent
Date: 01/31/2012

Account	Debit	Credit
Bank Charges	$0.17
B of A Checking		$0.17

Totals	$0.17	$0.17

Memo: B of A – Jan

PFF Real Estate Services, Inc.

Profit & Loss

January 2012


	Total
Income
Total Income
Expenses
Bank Charges		0.34
U S Trustee		325.00

Total Expenses	$	325.34

Net Operating Income	-$	325.34

Net Income	-$	325.34

PFF Real Estate Services, Inc.

Profit & Loss

December 5, 2008 – January 31, 2012


	Total
Income
Total Income
Expenses
Bank Charges		269.68
U S Trustee		4,225.00

Total Expenses	$	4,494.68

Net Operating Income	-$	4,494.68
Other Income
Other Income		0.04

Total Other Income	$	0.04

Net Other Income	$	0.04

Net Income	-$	4,494.64

PFF Real Estate Services, Inc.

Balance Sheet

As of January 31, 2012


	Total
ASSETS
Current Assets
Bank Accounts
B of A Checking		21,230.36
PFF Checking		0.00

Total Bank Accounts	$	21,230.36

Total Current Assets	$	21,230.36

TOTAL ASSETS	$	21,230.36

LIABILITIES AND EQUITY
Liabilities
Total Liabilities
Equity
APIC - Retained Earnings		-29,275.00
Common Stock		55,000.00
Opening Balance Equity		0.00
Retained Earnings		-4,169.13
Net Income		-325.51

Total Equity	$	21,230.36

TOTAL LIABILITIES AND EQUITY	$	21,230.36


In re	PFF Real Estate Services, Inc.	Case No.	08-13130
		Reporting Period:	1/1/12 - 1/31/12

STATUS OF POSTPETITION TAXES

Federal

Beginning
Tax Liability

Amount
Withheld or
Accrued

Amount Paid

Date Paid

Check No.
T

Ending Tax
Liability

Withholding

NONE

FICA-Employee

NONE

FICA-Employer

NONE

Unemployment

NONE

Income

NONE

Other:

NONE

Total Federal Taxes

NONE

State and Local

Withholding

NONE

Sales

NONE

Excise

NONE

Unemployment

NONE

Real Property

NONE

Personal Property

NONE

Other:

NONE

Total State and Local

NONE

Total Taxes

NONE

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

Number of Days Past Due

Current

0-30

31-60

61-90

Over 90

Total

Accounts Payable

NONE

Wages Payable

NONE

Taxes Payable

NONE

Rent/Leases-Building

NONE

Rent/Leases-Equipment

NONE

Secured Debt/Adequate Protection Payments

NONE

Professional Fees

NONE

Amounts Due to Insiders^*

NONE

Other:

NONE

Other:

NONE

Total Postpetition Debts

NONE

Explain how and when the Debtor intends to pay any past-due postpetition debts.

*	“Insider” is defined in 11 U.S.C. Section 101(31).


In re PFF Real Estate Services,Inc.		08-13130
Debtor		1/1/12 – 1/31/12

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING


Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period				NONE
+ Amounts billed during the period				NONE
- Amounts collected during the period				NONE
Total Accounts Receivable at the end of the reporting period				NONE
Accounts Receivable Aging
0 - 30 days old				NONE
31 -60 days old				NONE
61 - 90 days old				NONE
91+ days old				NONE
Total Accounts Receivable				NONE
Amount considered uncollectible (Bad Debt)				NONE
Accounts Receivable (Net)				NONE

DEBTOR QUESTIONNAIRE


Must be completed each month	Yes	No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		X
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		X
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	X
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X

PFF BANCORP INC - FORM 8-K - EX-99.1 - March 9, 2012

Attached files