FORM 11-K
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the Fiscal Year Ended December 31, 1999 OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
Commission File Number: 0-26993
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
EverTrust Financial Group, Inc.
401(k) Employee Savings and Profit Sharing Plan and Trust
B. Name of issuer of the securities held pursuant to the plan and the
address of its principle executive office:
EverTrust Financial Group, Inc.
2707 Colby Avenue, Suite 600
Everett, Washington 98201
REQUIRED INFORMATION
1) Statement of net assets available for benefits
2) Statement of changes in net assets available for benefits
See Attached Statement
This plan is exempt under ERISA from filing audited financial
statements.
Signatures
The Plan. Pursuant to the requirements of the Securities and Exchange
Act of 1934, the trustee has duly caused this annual report to be signed on
its behalf by the undersigned hereunto duly authorized.
/s/ Nancy Elliott
---------------------------------------
Trustee, EverTrust Financial Group, Inc.
401(k) Employee Savings and Profit Sharing Plan and Trust
By: /s/ Nancy Elliott
---------------------------------------
Nancy Elliott (name)
Human Resources, Director (title)
EverTrust Financial Group, Inc. (bank)
Date: 9/15/00
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EverTrust Financial Group
401(K)
For the period 1/1/99-12/31/99
Settlement w/Accruals Statement of changes in net assets
Cost Market Value
Net Assets at
beginning of period $4,108,003.18 $4,322,324.15
***Increases***
Contributions
from employer
cash $147,908.63
from employee $ 57,258.18
employee rollover
cash $ 4,238.32
401(k) $149,287.53 $ 358,692.66 $ 358,692.66
Earnings on investments
interest $63,720.47
dividends $76,179.46 $ 139,899.93 $ 139,899.93
Realized Gain
from investments sold $ 301,946.04 $ 301,946.04
Additions
securities received $ 570,360.00 $ 552,564.76
Unrealized apprecia
tion $ 60,657.12
Total Increases $1,370,898.63 $1,413,760.51
- --------------- ------------- -------------
***Decreases***
Distributions
Miscellaneous
Payments $ 629,900.00 $ 629,900.00
To plan participants
benefit payments
cash $ 344,447.50 $ 344,447.50
Commissions, Fees &
Expenses
US Bank fees $20,620.27
custodian $ 7,227.07 $ 27,847.34 $ 27,847.34
Total Decreases $1,002,194.84 $1,002,194.84
- --------------- ------------- -------------
Net assets at end
of period $4,476,706.97 $4,733,889.82
EverTrust Financial Group
401(k)
Close of Business 12/31/99
Settlement/Accruals Summary of Investments
No. of Total cost Total Market Percent of Estimated % Return
Holdings Value Value Annual Income on Value
cash equivalents 1 $ 102,833.00 $ 102,833.00 2.17% $ 5,575.00 5.00%
fixed income
Corporate & other 1 $ 661,877.29 $ 640,671.51 13.53% $36,762.00 5.70%
*Total fixed income 1 $ 661,877.29 $ 640,671.51 13.53% $36,762.00 5.70%
common stock 6 $3,771,381.17 $3,989,769.80 84.29% $39,818.00 1.00%
*Total Securities 8 $4,476,091.46 $4,733,274.31 99.99% $82,155.00 1.70%
cash balance $ 2.60 $ 2.60
accrued income $ 612.91 $ 912.91 0.01%
*Total assets $4,476,706.97 $4,733,889.82 100% $82,155.00
EverTrust Financial Group
401(k)
For the period 2/1/98 - 12/31/98
Settlement w/Accruals Statement of changes in net assets
Cost Market Value
Net Assets at beginning of
period $3,515,995.22 $4,099,356.48
***Increases***
Contributions
from employer
cash $ 78,516.53
from employee $ 41,967.52
employee rollover
cash $ 42,616.17
401(k) $106,752.72 $ 269,852.94 $ 269,852.94
Earnings on investments
interest $ 2,934.98
dividends $ 77,452.80 $ 80,387.78 $ 80,387.78
Realized Gain
from investments sold $ 462,686.54 $ 462,686.54
Additions
securities received
Unrealized appreciation
Total Increases $ 812,927.26 $ 812,927.26
- --------------- ------------- -------------
***Decreases***
Distributions
Miscellaneous Payments
To plan participants
benefit payments
cash $ 196,360.14 $ 196,360.14
Unrealized Depreciation $ 369,040.29
Commissions, Fees &
Expenses
US Bank fees
custodian $ 24,559.16 $ 24,559.16
Total Decreases $ 220,919.30 $ 589,959.59
- --------------- ------------- -------------
Net assets at end
of period $4,108,003.18 $4,322,324.15
EverTrust Financial Group
401(k)
Close of Business 12/31/98
Settlement/Accruals Summary of Investments
No. of Total cost Total Market Percent of Estimated % Return Unrealized
Holdings Value Value Annual Income on Value Gain or loss
cash equivalents 1 $ 47,265.00 $ 47,265.00 1.09% $ 2,367.00 5.00%
0.00
fixed income
Corporate & other 1 $ 670,930.08 $ 686,273.37 15.88% $35,560.00 5.20%
*Total fixed income 1 $ 670,930.08 $ 686,273.37 15.88% $35,560.00 5.20%
$15,343.29
common stock 5 $3,389,595.49 $3,588,573.17 83.03% $51,570.00 1.40%
*Total Securities 7 $4,107,790.57 $4,322,111.54 100.00% $89,497.00 2.10%
cash balance $ 2.24 $ 2.24
accrued income $ 210.37 $ 210.37
*Total assets $4,108,003.18 $4,322,324.15 100.00% $89,497.00