<PAGE>

                                                                SEC File Number
                                                                   2-95465-S

                                     UNITED STATES
                          SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C. 20549

                                      FORM 12b-25

                              NOTIFICATION OF LATE FILING

(CHECK ONE):  /X/Form 10-K / /Form 20-F / /Form 11-K / /Form 10-Q / /Form N-SAR

                 For Period Ended:         March 31, 1999
                                  --------------------------------------------
                 /  / Transition Report on Form 10-K
                 /  / Transition Report on Form 20-F
                 /  / Transition Report on Form 11-K
                 /  / Transition Report on Form 10-Q
                 /  / Transition Report on Form N-SAR
                 For the Transition Period Ended:
                                                 ------------------------------
-------------------------------------------------------------------------------
  READ INSTRUCTION (ON BACK PAGE) BEFORE PREPARING FORM. PLEASE PRINT OR TYPE.
    NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS
               VERIFIED ANY INFORMATION CONTAINED HEREIN.
-------------------------------------------------------------------------------

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

 Part II, Items 6 and 8; Selected Financial Data and Financial Statement and
                           Supplementary Data.
-------------------------------------------------------------------------------
PART I -- REGISTRANT INFORMATION
-------------------------------------------------------------------------------
Full Name of Registrant

                  WESTAR FINANCIAL SERVICES INCORPORATED
               (successor to REPUBLIC LEASING INCORPORATED)
-------------------------------------------------------------------------------
Former Name if Applicable

-------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)

                     The Republic Building, Suite 300
-------------------------------------------------------------------------------
City, State and Zip Code

                         Olympia, Washington 98501
-------------------------------------------------------------------------------
PART II -- RULES 12b-25(b) AND (c)
-------------------------------------------------------------------------------
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate)

/X/    (a)  The reasons described in reasonable detail in Part III of this
            form could not be eliminated without unreasonable effort or
            expense;
/X/    (b)  The subject annual report, semi-annual report, transition report
            on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof,
            will be filed on or before the fifteenth calendar day following
            the prescribed due date; or the subject quarterly report of
            transition report on Form 10-Q, or portion thereof will be filed
            on or before the fifth calendar day following the prescribed due
            date; and
/X/    (c)  The accountant's statement or other exhibit required by Rule
            12b-25(c) has been attached if applicable.
-------------------------------------------------------------------------------
PART III -- NARRATIVE
-------------------------------------------------------------------------------
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period:

The information required by Items 6 and 8 of Part II has not been filed with
the registrant's report on Form 10-K for the year ended March 31, 1999.
Registrant is unable to file this information without unreasonable effort and
expense for the reasons set forth below.

The registrant terminated its previous independent auditors on March 11, 1999
and formally engaged BDO Seidman, LLP on June 6, 1999. The Company's new
independent auditors are unable to complete their audit and furnish the
required opinion on a timely filing as they were not provided access to the
predecessor auditor's working papers until June 23, 1999 and, as a result,
have not yet had sufficient time to complete their auditing procedures and
inquires.

-------------------------------------------------------------------------------
PART IV -- OTHER INFORMATION
-------------------------------------------------------------------------------
(1) Name and telephone number of person to contact in regard to this
    notification

          Name: R. W. Christensen, Jr., President
          Telephone Number: (360) 754-6227
-------------------------------------------------------------------------------
(2) Have all other periodic reports required under Section 13 or 15(d) of the
    Securities Exchange Act of 1934 or Section 30 of the Investment Company
    Act of 1940 during the preceding 12 months or for such shorter period
    that the registrant was required to file such report(s) been filed? If
    answer is no, identify report(s).                           /X/ Yes  / / No

(3) Is it anticipated that any significant change in results of operations
    from the corresponding period for the last fiscal year will be reflected
    by the earnings statements to be included in the subject report or
    portion thereof?                                            /X/ Yes  / / No

    If so, attach an explanation of the anticipated change, both narratively
    and quantitatively, and, if appropriate, state the reasons why a reasonable
    estimate of the results cannot be made.

Westar Financial Services, Inc. has caused this notification to be signed on
its behalf by the undersigned thereunto duly authorized.

    Date  June 29, 1999                By /s/ R. W. Christensen, Jr.
         ----------------------------     ----------------------------------
                                          R. W. Christensen, Jr., President

Exhibit 1: Letter dated June 30, 1999, from BDO Seidman, LLP to Securities
and Exchange Commission.

<PAGE>

INSTRUCTION: The form may be signed by an executive officer of the registrant
or by any other duly authorized representative. The name and title of the
person signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.

____________________________________ATTENTION__________________________________

  INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL
                      VIOLATIONS (SEE 18 U.S.C. 1001).
_______________________________________________________________________________


                             GENERAL INSTRUCTIONS

1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General
   Rules and Regulations under the Securities Exchange Act of 1934.

2. One signed original and four conformed copies of this form and amendments
   thereto must be completed and filed with the Securities and Exchange
   Commission, Washington, D.C. 20549, in accordance with Rule O-3 of the
   General Rules and Regulations under the Act. The information contained in
   or filed with the form will be made a matter of public record in the
   Commission files.

3. A manually signed copy of the form and amendments thereto shall be filed
   with each national securities exchange on which any class of securities of
   the registrant is registered.

4. Amendments to the notifications must also be filed on form 12b-25 but need
   not restate information that has been correctly furnished. The form shall
   be clearly identified as an amended notification.

5. ELECTRONIC FILERS. This form shall not be used by electronic filers unable
   to timely file a report solely due to electronic difficulties. Filers unable
   to submit a report within the time period prescribed due to difficulties in
   electronic filing should comply with either Rule 201 or Rule 202 of
   Regulation S-T (Section 232.201 or Section 232.202 of this chapter) or apply
   for an adjustment in filing date pursuant to Rule 13(b) of Regulation S-T
   (Section 232.13(b) of this chapter).