SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(D) of
The Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) January 28, 2000
LIFE FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-22193 33-0743196
(State or Other Jurisdiction (Commission File No.) (IRS Employer
of Incorporation) Identification No.)
10540 Magnolia Avenue, Suite B, Riverside CA 92505-1814
(Address of Principal Executive Office) (Zip Code)
(909) 637-4000
(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS
On January 28, 2000, Life Financial Corporation (the "Registrant")
announced that it had completed the sale of the Registrant's remaining residual
mortgage backed securities (the "Securities") retained from securitization and
the related mortgage servicing rights (the "Servicing Rights") owned by the
Registrant's subsidiary, LIFE Bank (the "Bank") for an amount valued at $19.3
million in cash and other consideration. On January 28, 2000, simultaneous with
the Registrant's sale of the Securities to the Bank, the Securities were sold by
the Bank to Bear Stearns & Co. Inc. and the Servicing Rights were sold to EMC
Mortgage Corporation.
ITEM 7. FINANCIAL STATEMENTS, PRO FORM FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements of business acquired
Not Applicable
(b) Proforma Financial Information
Not Applicable
(c) Exhibits
Item No. Exhibit Index
99.1 Press Release dated February 1, 2000
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
LIFE FINANCIAL CORPORATION
By: /s/ Robert K. Riley
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Robert K. Riley
President and Chief Executive Officer
February 1, 2000
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EXHIBIT INDEX
Exhibit Number Description Page No.
99.1 Press Release dated February 1, 2000 4
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