UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Team Financial, Inc.
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(Name of Issuer)
Common Stock, No Par Value
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(Title of Class of Securities)
87815X109
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(CUSIP Number)
Brian T. Daly, Esq.
Millennium Management, L.L.C.
666 Fifth Avenue, 8th Floor
New York, New York 10103
(212) 841-4100
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 10, 2006
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(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 ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g) check the
following box |_|.
Page 1 of 12 Pages
SCHEDULE 13D
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CUSIP No. 87815X109
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Millenco, L.P.
13-3532932
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |X|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
216,200
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 216,200
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
216,200
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
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14 TYPE OF REPORTING PERSON
PN, BD
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Page 2 of 12 Pages
SCHEDULE 13D
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CUSIP No. 87815X109
- --------------------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Millennium Management, L.L.C.
13-3804139
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC, OO
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |X|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
216,200
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 216,200
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
216,200
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
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14 TYPE OF REPORTING PERSON
OO
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Page 3 of 12 Pages
SCHEDULE 13D
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CUSIP No. 87815X109
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Israel A. Englander
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC, OO
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) |X|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
216,200
-----------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 216,200
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
216,200
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
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14 TYPE OF REPORTING PERSON
IN
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Page 4 of 12 Pages
Explanatory Note
Item 1. Security and Issuer.
The name of the issuer is Team Financial, Inc., a Kansas corporation (the
"Issuer"). The address of the Issuer's offices is 8 West Peoria, Suite 200,
Paola, Kansas, 66071. This Schedule 13D relates to the Issuer's Common Stock,
no par value (the "Common Stock").
Item 2. Identity and Background.
(a)-(c), (f). This statement is being filed by Millenco, L.P., a Delaware
limited partnership ("Millenco"). Millenco is a broker-dealer and a member of
the American Stock Exchange and the NASDAQ. Millennium Management, L.L.C., a
Delaware limited liability company ("Millennium Management"), is the general
partner of Millenco, and consequently may be deemed to have voting control and
investment discretion over securities owned by Millenco. Israel A. Englander
("Mr. Englander") is the managing member of Millennium Management. As a result,
Mr. Englander may be deemed to be the beneficial owner of any shares deemed to
be beneficially owned by Millennium Management. The foregoing should not be
construed in and of itself as an admission by Millennium Management or Mr.
Englander as to beneficial ownership of the shares owned by Millenco.
The business address for Millenco, Millennium Management and Mr. Englander
is c/o Millennium Management, L.L.C., 666 Fifth Avenue, New York, New York
10103. Mr. Englander is a United States citizen.
Note: Millennium Partners, L.P., a Cayman Islands exempted limited
partnership ("Millennium Partners"), is a limited partner of Millenco. As a
limited partner, Millennium Partners has no investment or voting control over
Millenco or its securities positions.
(d). During the last five years, none of the Reporting Persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e). On December 1, 2005, Millennium Management and Mr. Englander,
together with Millennium Partners and certain related persons and entities,
entered into settlements with the Securities and Exchange Commission ("SEC") and
the Attorney General of the State of New York (the "NYAG") relating to
allegations that Millennium Partners had engaged in a pattern of deceptive
"market timing" of mutual fund shares in years prior to 2004 and, in the case of
the settlement with the NYAG only, had failed to take adequate steps to prevent
a trader from engaging in mutual fund "late trading" in violation of firm
policy. The parties neither admitted nor denied the allegations or findings
(except as to jurisdiction) but consented to the entry of findings. The SEC
proceedings are In the Matter of Millennium Partners, L.P., et al. Securities
Act Release No. 8639 (December 1, 2005), available at www.sec.gov.
Contemporaneously, the NYAG issued an Assurance of Discontinuance relating to
the claims and findings of that office.
Page 5 of 12 Pages
Neither the Reporting Persons nor any other party admitted or denied any
of the allegations or findings in these matters. The remedies included
disgorgement by the entities of approximately $148 million of mutual fund
trading profits, civil penalties aggregating approximately $32.15 million (with
approximately $30 million being paid by Mr. Englander), an administrative order
to cease and desist from violations of the antifraud provisions of the
Securities Act and the Securities Exchange Act, and prophylactic relief.
Item 3. Source and Amount of Funds or Other Consideration.
The amount of funds used to purchase the beneficially owned shares in the
transactions giving rise to this Schedule 13D was approximately $2,887,000
calculated on an average cost basis (excluding brokerage commissions) by
account. Millenco effects purchases of securities primarily through margin
accounts maintained for it with prime brokers, which may extend margin credit to
Millenco as and when required to open or carry positions in the margin accounts,
subject to applicable Federal margin regulations, stock exchange rules and
the prime broker's credit policies. In such instances, the positions held in the
margin accounts are pledged as collateral security for the repayment of debit
balances in the accounts.
Item 4. Purpose of Transaction.
The Reporting Persons are engaged in the investment business. In pursuing
this business, the Reporting Persons analyze the operations, capital structure
and markets of companies, including the Issuer, on a continuous basis through
analysis of documentation and discussions with knowledgeable industry and market
observers and with representatives of such companies (often at the invitation of
management). From time to time, one or more of the Reporting Persons may hold
discussions with third parties or with management of such companies in which the
Reporting Persons may suggest or take a position with respect to potential
changes in the operations, management or capital structure of such companies as
a means of enhancing shareholder value. Such suggestions or positions may relate
to one or more of the transactions specified in clauses (a) through (j) of Item
4 of Schedule 13D of the Exchange Act, including, without limitation, such
matters as disposing of or selling all or a portion of the company or acquiring
another company or business, changing operating or marketing strategies,
adopting or not adopting certain types of anti-takeover measures and
restructuring the Issuer's capitalization or dividend policy.
The Reporting Persons employ the services of a number of portfolio
managers, each of whom independently employs a separate and distinct trading
strategy. A portion of the securities of the Issuer held by the Reporting
Persons are held in accounts of the Reporting Persons managed by portfolio
managers who engage in event-, risk- or merger-arbitrage or fundamental
strategies.
Except as set forth above, the Reporting Persons do not have any present
plans or proposals that relate to or would result in any of the actions required
to be described in Item 4 of Schedule 13D. Each of the Reporting Persons may, at
any time, review or reconsider its position with respect to the Issuer and
formulate plans or proposals with respect to any of such matters, but has no
present intention of doing so.
Item 5. Interest in Securities of the Issuer.
(a) As of the date hereof, Millenco may be deemed to be the beneficial
owner of 216,200 shares of Common Stock, which represents in the aggregate
approximately 6.0% of the outstanding shares of Common Stock. The calculation
of the foregoing percentage is on the basis of an aggregate number of 3,591,084
outstanding shares of Common Stock, as reported by the Issuer on Form 8-K,
filed as of August 8, 2006.
Page 6 of 12 Pages
Millennium Management, as the general partner of Millenco, may also be
deemed to beneficially own the 216,200 shares of Common Stock beneficially owned
by Millenco.
Mr. Englander, as the managing member of Millennium Management, may also
be deemed to beneficially own the 216,200 shares of Common Stock beneficially
owned by Millenco.
The foregoing should not be construed in and of itself as an admission by
Millennium Management or Mr. Englander as to beneficial ownership of the shares
owned by Millenco.
(b) Mr. Englander may be deemed to hold the sole power to vote and to
dispose of the 216,200 shares of Common Stock described in (a) above. The
foregoing should not be construed in and of itself as an admission by Mr.
Englander as to beneficial ownership of the shares.
(c) Transactions in Common Stock during the past 60 days: Schedule A
annexed hereto lists all transactions in the Common Stock during the past 60
days by the Reporting Persons, which were all effected in the open market.
(d) No person other than the Reporting Persons is known to have the right
to receive, or the power to direct the receipt of, dividends from, or proceeds
from the sale of, the shares of Common Stock reported in this Statement.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
In connection with arrangements with its prime brokers, such prime brokers
are permitted to lend securities in Millenco's account to the extent permitted
by debit balances in such account. Millenco generally will not have any
knowledge of the actual loans made by such prime brokers. In addition, in the
ordinary course of business, Millenco (or its prime brokers) may borrow
securities to satisfy delivery obligations arising from short sales and may lend
securities to third parties, and such loans generally may be recalled upon
demand.
There are no other contracts, arrangements, understandings or
relationships among the Reporting Persons, or between the Reporting Persons and
any other person, with respect to the securities of the Issuer.
Item 7. Material to Be Filed as Exhibits.
Exhibit I: Joint Filing Agreement, dated as of August 10, 2006, by and
among Millenco, L.P., Millennium Management, L.L.C. and Israel A. Englander.
Page 7 of 12 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.
Dated: August 10, 2006
MILLENCO, L.P.
By: Millennium Management, L.L.C.
its general partner
By: /s/ David Nolan
-------------------------------------------
Name: David Nolan
Title: Executive Vice President
MILLENNIUM MANAGEMENT, L.L.C.
By: /s/ David Nolan
-------------------------------------------
Name: David Nolan
Title: Executive Vice President
/s/ Israel A. Englander
-------------------------------------------
Israel A. Englander
Page 8 of 12 Pages
EXHIBIT I
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule
13D filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the shares
of Common Stock, no par value, of Team Financial, Inc., a Kansas corporation,
is being filed, and all amendments thereto will be filed, on behalf of each
of the persons and entities named below in accordance with Rule 13d-1(k) under
the Securities Exchange Act of 1934, as amended. This Agreement may be executed
in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.
Dated: August 10, 2006
MILLENCO, L.P.
By: Millennium Management, L.L.C.
its general partner
By: /s/ David Nolan
----------------------------------------
Name: David Nolan
Title: Executive Vice President
MILLENNIUM MANAGEMENT, L.L.C.
By: /s/ David Nolan
---------------------------------------
Name: David Nolan
Title: Executive Vice President
/s/ Israel A. Englander
----------------------------------------
Israel A. Englander
Page 9 of 12 Pages
Schedule A
Transactions in the Common Stock During the Past 60 Days:
----------------------------------------
|Date of | Quantity |Price Per |
|Transaction |Purchased | Share |
| | (Sold) | |
----------------------------------------
7/10/2006 (1502) 14.9
7/10/2006 (502) 14.9
7/10/2006 (502) 14.9
7/10/2006 (400) 14.9
7/10/2006 (300) 15.01
7/10/2006 (300) 15.01
7/10/2006 (300) 15.01
7/10/2006 (298) 14.9
7/10/2006 (234) 15.01
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (200) 14.9
7/10/2006 (198) 14.9
7/10/2006 (98) 14.9
7/10/2006 (66) 15.01
7/11/2006 (600) 15
7/11/2006 (600) 15
7/11/2006 (530) 15
7/11/2006 (200) 15
7/11/2006 (200) 15
7/11/2006 (200) 15
7/11/2006 (100) 15
7/11/2006 (100) 15.01
7/18/2006 (400) 14.55
7/18/2006 (300) 14.55
7/18/2006 (200) 14.2
7/18/2006 (200) 14.2
Page 11 of 12 Pages
7/18/2006 (200) 14.2
7/18/2006 (200) 14.2
7/18/2006 (200) 14.2
7/18/2006 (200) 14.3
7/18/2006 (200) 14.31
7/18/2006 (200) 14.33
7/18/2006 (200) 14.55
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.2
7/18/2006 (100) 14.21
7/18/2006 (100) 14.21
7/18/2006 (100) 14.23
7/18/2006 (100) 14.31
7/18/2006 (100) 14.31
7/18/2006 (100) 14.31
7/18/2006 (100) 14.32
7/18/2006 (100) 14.32
7/18/2006 (100) 14.32
7/18/2006 (100) 14.32
7/18/2006 (100) 14.32
7/18/2006 (100) 14.32
7/18/2006 (100) 14.32
7/18/2006 (100) 14.33
7/18/2006 (100) 14.35
7/18/2006 (100) 14.51
7/18/2006 (100) 14.52
7/18/2006 (70) 14.2
7/19/2006 (100) 14.55
7/19/2006 (100) 14.65
7/19/2006 (100) 14.74
7/24/2006 (500) 15
7/24/2006 (400) 15
Page 10 of 12 Pages
7/24/2006 (400) 15
7/24/2006 (300) 15
7/24/2006 (300) 15
7/24/2006 (300) 15
7/24/2006 (300) 15.01
7/24/2006 (200) 15
7/24/2006 (200) 15
7/24/2006 (200) 15
7/24/2006 (200) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15
7/24/2006 (100) 15.01
7/24/2006 (98) 15
7/24/2006 (2) 15.01
8/1/2006 (200) 15.05
8/1/2006 (200) 15.05
8/1/2006 (100) 15.05
Note: All such transactions were effected by Millenco.
Page 12 of 12 Pages