SCHEDULE 13D/A
(RULE 13d-101)
Information to be Included in Statements Filed Pursuant to Rule 13d-1(a) and
Amendments Thereto Filed Pursuant to Rule 13d-2(a)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. 17)*
WESTCORP
_______________________________________________________________________________
(Name of Issuer)
Common Stock, $1.00 Par Value
_______________________________________________________________________________
(Title of Class of Securities)
957907108
_______________________________________________________________________________
(CUSIP Number)
ERNEST S. RADY
Chairman and Chief Executive Officer
23 Pasteur
Irvine, California 92618
_______________________________________________________________________________
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 24, 2003
_______________________________________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
Note. Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. 957907108 13D Page 2 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ERNEST S. RADY AND ERNEST S. RADY TRUST
(see Item 6 for additional information)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO + IN
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 3 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EVELYN SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO + IN
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 4 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AVRETT ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 5 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SILPIT INDUSTRIES CO., LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 6 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MEMRAD HOLDINGS, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 7 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AMERICAN ASSETS, INC.
I.R.S. ID NO. 95-249-3347
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 8 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CANPAC ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 9 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN INSURANCE HOLDINGS, INC.
I.R.S. ID NO. 95-2890041
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 10 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INSURANCE COMPANY OF THE WEST
I.R.S. ID NO. 95-2769232
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 11 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EXPLORER INSURANCE COMPANY
I.R.S. ID NO. 94-2784519
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
ARIZONA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
IC
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 957907108 13D Page 12 of 27 Pages
==============================================================================
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DHM Trust
I.R.S. ID NO. 33-6003176
------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
------------------------------------------------------------------------------
3) SEC USE ONLY
------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
PF
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
------------------------------------------------------------------------------
7) SOLE VOTING POWER
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
NUMBER OF ---------------------------------------------------------------
SHARES 8) SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ---------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON
WITH SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
---------------------------------------------------------------
10) SHARED DISPOSITIVE POWER
------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [ ]
------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 53.80% (based on 51,697,293 shares outstanding)
------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON*
OO
==============================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1. Security and Issuer.
Common Stock, $1.00 par value
WESTCORP
23 Pasteur Road
Irvine, CA 92618
Item 2. Identity and Background.
ERNEST S. RADY AND ERNEST S. RADY TRUST (see Item 6 for additional information)
(a) Ernest S. Rady and Ernest S. Rady, Trustee
Mr. Rady's address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
(b) The Trust's principal business address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman
and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None.
(f) Citizenship: CANADA
EVELYN SHIRLEY RADY AND EVELYN SHIRLEY RADY TRUST
(a) Evelyn Shirley Rady and Ernest S. Rady, Trustee
Mrs. Rady's address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
(b) The Trust's principal business address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman
and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: CANADA
Page 13 of 27 Pages
AVRETT ENTERPRISES, LTD.
(a) Avrett Enterprises, Ltd.
(b) The principal business address is:
Avrett Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
SILPIT INDUSTRIES CO., LTD.
(a) Silpit Industries Co., Ltd.
(b) The principal business address is:
Silpit Industries Co., Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
MEMRAD HOLDINGS, LTD.
(a) Memrad Holdings, Ltd.
(b) The principal business address is:
Memrad Holdings, Ltd.
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
AMERICAN ASSETS, INC.
(a) American Assets, Inc.
(b) The principal business address is:
American Assets, Inc.
11455 El Camino Real, Suite 200
San Diego, California 92130-2045
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
Page 14 of 27 Pages
CANPAC ENTERPRISES, LTD.
(a) Canpac Enterprises, Ltd.
(b) The principal business address is:
Canpac Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Canadian corporation.
WESTERN INSURANCE HOLDINGS, INC.
(a) Western Insurance Holdings, Inc.
(b) The principal business address is:
Western Insurance Holdings, Inc.
11455 El Camino Real, Suite 200
San Diego, California 92130-2045
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
INSURANCE COMPANY OF THE WEST
(a) Insurance Company of the West
(b) The principal business address is:
Insurance Company of the West
11455 El Camino Real, Suite 200
San Diego, California 92130-2045
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) California corporation.
EXPLORER INSURANCE COMPANY
(a) Explorer Insurance Company
(b) The principal business address is:
Explorer Insurance Company
11455 El Camino Real, Suite 200
San Diego, California 92130-2045
(c) Current securities conviction during the last five years: None
(d) Securities Laws proceedings: None
(e) Arizona corporation.
DHM TRUST
(a) DHM Trust, Ernest S. Rady, Trustee
Mr. Rady's address is:
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
(b) The Trust's principal business address is:
11455 El Camino Real
San Diego, CA 92130-2045
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman
and Chief Executive Officer of the Issuer and is an executive
officer and/or director of many of the reporting parties included in
the Schedule 13D.
(d) Current conviction during last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: Canada
Identification of Members of the Group
Ernest Rady
(a) Ernest Rady
The Ernest S. Rady Trust
(a) Ernest S. Rady, Trustee (see Item 6 for additional information)
Page 15 of 27 Pages
The Evelyn Shirley Rady Trust
(a) Ernest S. Rady, Trustee
Avrett Enterprises, Ltd.
(a) Avrett Enterprises, Ltd.
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
Sylvia Silverberg President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Vice President, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Ernest S. Rady Vice President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Silpit Industries Co., Ltd.
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
(a) Silpit Industries Co., Ltd.
David S. Kaufman President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Page 16 of 27 Pages
Evelyn Rady Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Sylvia Silverberg Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Allan Kaufman Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Memrad Holdings, Ltd.
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
(a) Memrad Holdings, Ltd.
Ernest S. Rady President, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Marjorie Blankstein Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Morley Blankstein Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Mindel Olenick Assistant Secretary,
903-213 Notre Dame Avenue Director
Winnipeg, Manitoba
Canada R3B 1N3
Thomas Z. Olenick Vice President
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Page 17 of 27 Pages
Brian Hirsch Secretary
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
American Assets, Inc.
(a) American Assets, Inc., a California corporation
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
Ernest S. Rady Chairman of the Board, President
11455 El Camino Real, Suite 200
San Diego, CA 92130
Harry M. Rady Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
John W. Chamberlain Chief Executive Officer, Senior
11455 El Camino Real, Suite 200 Executive Vice President, Director
San Diego, CA 92130-2045
Allen Garrett Executive Vice President,
11455 El Camino Real, Suite 200 Residential Properties
San Diego, CA 92130-2045
James R. Cronemeyer Vice President,
11455 El Camino Real, Suite 200 Commercial Properties
San Diego, CA 92130-2045
Jerry Gammieri Vice President - Construction
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Robert F. Barton Exec. Vice President, Chief Financial
11455 El Camino Real, Suite 200 Officer & Secretary
San Diego, CA 92130-2045
Christopher A. Seaman Vice President, General
11455 El Camino Real, Suite 200 Counsel
San Diego, CA 92130-2045
Page 18 of 27 Pages
Canpac Enterprises, Ltd.
(a) Canpac Enterprises, Ltd.
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
Ernest S. Rady President, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Brian Hirsch Secretary, Treasurer, Director
903-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
David S. Kaufman Director
11455 El Camino Real #200
San Diego, CA 92130-2045
Western Insurance Holdings, Inc.
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
(a) Western Insurance Holdings, Inc.
Ernest S. Rady Chairman of the Board, President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer,
11455 El Camino Real, Suite 200 Director
San Diego, CA 92130-2045
James W. Austin III Secretary
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Mary E. Cannon Assistant Secretary
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Harry M. Rady Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
John L. Hannum Executive Vice President, Surety
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Page 19 of 27 Pages
Insurance Company of the West
(a) Insurance Company of the West
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
Ernest S. Rady Chairman of the Board,
11455 El Camino Real, Suite 200 President, Director
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Richard S. King Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Arne D. Wagner Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Bruce N. Moore Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
James B. Rathbun Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Charles E. Scribner Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Fredericka Taubitz Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
John L. Hannum Executive Vice President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Kevin M. Prior Senior Vice President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Harry M. Rady Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Page 20 of 27 Pages
James W. Austin III Senior Vice President, Secretary and
11455 El Camino Real, Suite 200 General Counsel
San Diego, CA 92130-2045
Gene P. Irizarry Senior Vice President, Chief Operating Officer
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Dennis E. Osgood Senior Vice President
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Page 21 of 27 Pages
Explorer Insurance Company
(a) Explorer Insurance Company
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
Ernest S. Rady Chairman of the Board, President, Director
11455 Camino Real, Suite 200
San Diego, CA 92130-2045
Bernard M. Feldman Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Frederick Bernard Tisovic Executive Vice President, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
James W. Austin III Director, Assistant Secretary
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
H. Michael Freet Senior Vice President, Treasurer, Director
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
John L. Hannum Executive Vice President, Surety
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Mary E. Cannon Secretary
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Page 22 of 27 Pages
DHM Trust
(a) Ernest S. Rady Trustee
DHM TRUST
(a) DHM Trust
Names and Addresses of Officers
and Directors as of November 24, 2003 Title
------------------------------------- -----
Ernest S. Rady Trustee
11455 El Camino Real, Suite 200
San Diego, CA 92130-2045
Item 3. Source and Amount of Funds and Other Consideration.
The consideration paid for the securities purchased was cash from
working capital.
Item 4. Purpose of Transaction.
Investment.
Item 5. Interest in Securities of the Issuer
This filing is for the cumulative share holdings of an affiliated group as
of the close of business on November 24, 2003. The various entities named in
this Schedule 13D directly or indirectly collectively owned, as of such date,
27,814,622 outstanding shares of Common Stock of the Issuer. As of November 24,
2003, there are 138,419 options exercisable by members of the affiliated group
within 60 days. On November 24, 2003, the Issuer closed an underwritten public
offering in which 5,450,000 shares of Common Stock were sold to the public. On
November 25, 2003, the underwriters exercised their option for an additional
817,500 shares of Common Stock which shares were sold and issued to the
underwriter on December 1, 2003. Details regarding this public offering can be
found in Westcorp's Prospectus, dated November 18, 2003. As of the close of
business on December 1, 2003, the various entities named in this Schedule D
directly or indirectly owned 53.80% of the outstanding shares of Common Stock of
the Issuer, including 72,427 shares (.14%) indirectly owned by Ernest S. Rady in
the WESTCORP ESOP and 401k. Exhibit A attached hereto and incorporated by this
reference herein depicts the relationship among the various affiliated companies
in the "Rady" group. There is no formal agreement to vote or dispose of the
shares of the issuer in a particular manner. The dispositive and voting power of
each of the trusts and companies shown on Exhibit A is made independent of each
other, except to the extent that Mr. and Mrs. Rady may be trustees,
shareholders, officers and/or directors of the various companies and in that
respect are able to control the disposition and voting of the shares of the
Issuer owned by each such company.
Page 23 of 27 Pages
Item 5. (continued)
The following securities transactions occurred in the sixty (60) day
period preceding November 24, 2003:
No.
Date of Shares Purchaser Price
----------------- --------- -------------------------- --------
11/24/2003 72,500 American Assets, Inc. $34.39
11/24/2003 70,000 Ernest Rady Trust $34.39
11/24/2003 5,000 Evelyn Shirley Rady Trust $34.39
11/24/2003 25,000 DHM Trust $34.39
All shares purchased on November 24, 2003 were acquired from the underwriters at
a price equal to the price offered to the public pursuant to the underwritten
public offering exclusive of the underwriting discounts. Details regarding
the public offering can be found in Westcorp's Prospectus dated as of November
24, 2003.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
SEE DISCUSSION UNDER ITEM 5 ABOVE
Additionally, pursuant to the provisions of the Ernest S. Rady Trust,
the Evelyn S. Rady Trust and the DHM Trust, Ernest S. Rady, as trustee, has the
power to sell, buy, retain, invest and reinvest the assets of these trusts,
which include the shares of the Issuer's Common Stock. Further, Ernest S. Rady,
the sole trustee of the Ernest S. Rady Trust ("Rady Trust"), transferred the
majority of the Rady Trust's equity interest in each of Memrad Holdings, Ltd.
("Memrad"), American Assets, Inc. ("AAI"), and CANPAC Enterprises, Ltd.
("CANPAC" and together with Memrad and AAI, collectively, the "Transfer
Companies") to a newly formed annuity trust ("Annuity Trust"). This equity
transfer was accomplished through the issuance of non-voting securities by each
of the Transfer Companies. Ernest S. Rady, as the sole trustee of the Rady
Trust, retained all voting shares of each Transfer Company and, thereby, the
right to vote and direct the investment of the shares of common stock of Issuer
held by each of the Transfer Companies. Further, Ernest Rady, as the sole
trustee of the Annuity Trust, may vote and direct the investment of the Annuity
Trust's assets. Under Rule 13d-3(a) of the Exchange Act of 1934, as amended
("Act"), Ernest S. Rady, as trustee of the Rady Trust, is, therefore, deemed to
be the indirect beneficial owner of all of the securities of Issuer owned by the
Transfer Companies. For continuity of reporting and for ease of comprehension of
this report, the reporting parties hereunder have consolidated the holdings of
the Rady Trust and the Annuity Trust, the sum of which is reported by the Rady
Trust on Exhibit A.
Item 7. Material to be Filed as Exhibits.
Exhibit "A", Holding Company Structure, Westcorp, December 2, 2003.
Page 24 of 27 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Ernest Rady
Dated: December , 2003 /s/ ERNEST RADY
--------------------------------------
Ernest Rady
Ernest S. Rady Trust
Dated: December , 2003 /s/ ERNEST S. RADY
--------------------------------------
Ernest S. Rady, Trustee
Evelyn Shirley Rady Trust
Dated: December , 2003 /s/ ERNEST S. RADY
--------------------------------------
Ernest S. Rady, Trustee
American Assets, Inc.
Dated: December , 2003 By: /s/ ERNEST S. RADY
----------------------------------
Ernest S. Rady, Chairman
Avrett Enterprises, Ltd.
Dated: December , 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Vice President
Canpac Enterprises, Ltd.
Dated: December , 2003 By: /s/ ERNEST S. RADY
----------------------------------
Ernest S. Rady, President
Insurance Company of the West
Dated: December , 2003 By: /s/ ERNEST S. RADY
----------------------------------
Ernest S. Rady, Chairman
Page 25 of 27 Pages
Memrad Holdings, Ltd.
Dated: December , 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, President
Silpit Industries Co., Ltd.
Dated: December , 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Chairman
Western Insurance Holdings, Inc.
Dated: December , 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Chairman
Explorer Insurance Inc.
Dated: December , 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Chairman
DHM Trust
Dated: December , 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady, Trustee
Ernest S. Rady
Dated: December , 2003 By: /s/ ERNEST S. RADY
-----------------------------------
Ernest S. Rady
Evelyn Shirley Rady
Dated: December , 2003 By: /s/ EVELYN SHIRLEY RADY
-----------------------------------
Evelyn Shirley Rady
Page 26 of 27 Pages
EXHIBIT A
HOLDING COMPANY STRUCTURE
WESTCORP
AS OF DECEMBER 2, 2003
----------------- -----------------
-----------ERNEST RADY TRUST------------ /------EVELYN RADY TRUST
/ --- (see Item 6) ---- / / -----------------------------
/ / ----------------- / / / ----------------- /
/ / / / / / / /
/ / / 47.00% / 62.46%/ / /50.00% /
/ / / / / / / /
/ / ---------------------/ / / ------------------------ /
/ / MEMRAD HOLDINGS, LTD./ / / AVRETT ENTERPRISES, LTD.------ /
/ / ---------------------/ / / ------------------------ / /
/ / / / / /25.94% / / /
/ / / 11.69% / / / / /
/ / / / / / / 35.90% / /
/ / / / / / / / /
/ / / / / / -------------------------- 2.17% /
/ 10.58% / / / /---SILPIT INDUSTRIES CO. LTD. / /
/ / / / / -------------------------- / /
/ / / / / / 25.36% / /
/ / / / / ------------------------ / /
/ / /56.61% / /-----------CANPAC ENTERPRISES, LTD.---- /
/ / / / ------------------------ /
/ 8.38% / / / / /
/ / / /-----------------------------/------ 0.73% ------------- /
/ / / --------------------- / / / DHM TRUST /
/ / -------AMERICAN ASSETS, INC.--16.70%-------- / /------------ /
/ ---------------- / / / /
/ --------------------- / / / /
/ / / 86.89% / / / /
/ ------------------ -------------------------- / / / 0.56%
/ / / / / / /
/ /36.38% -------------------------- / /
/ / WESTERN INSURANCE HOLDINGS / /
/ / -------------------------- / /
/ / / / /
/ / / 100% / /
/ / / / /
/ / ----------------------------- / /
/ / ---------------------------------INSURANCE COMPANY OF THE WEST / /
/ / / ----------------------------- / /
/ / /7.36% / / /
/ / / / 100% / /
/ / / / / /
/ / / -------------------------- / /
/ / / ---------- 0.05% ----------------EXPLORER INSURANCE COMPANY / 0.93% /
/ / / / -------------------------- / /
/ / / / / /
/ ----------------- / /
--------------WESTCORP----------------------------------------------------------------------------
-----------------
/
/ 100%
/
-----------------
WESTERN FINANCIAL
BANK
-----------------
Page 27 of 27 Pages