-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DEwJiEKe322D3YXR8cdwptQltGSE8EkGjSLuOzzZGYe1n65D8l3nswu1D7shZI/d dJX2gr54JNLi9FwCBZyXfg== 0000912057-00-012611.txt : 20000322 0000912057-00-012611.hdr.sgml : 20000322 ACCESSION NUMBER: 0000912057-00-012611 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000320 ITEM INFORMATION: FILED AS OF DATE: 20000321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MID-STATE BANCSHARES CENTRAL INDEX KEY: 0001027324 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 770442667 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-23925 FILM NUMBER: 574422 BUSINESS ADDRESS: STREET 1: 1026 GRAND AVE CITY: ARROYO GRANDE STATE: CA ZIP: 93420 BUSINESS PHONE: 8054737700 MAIL ADDRESS: STREET 1: 1026 GRAND AVE CITY: ARROYO GRANDE STATE: CA ZIP: 93420 FORMER COMPANY: FORMER CONFORMED NAME: MID STATE BANCSHARES DATE OF NAME CHANGE: 19980820 FORMER COMPANY: FORMER CONFORMED NAME: BSM BANCORP DATE OF NAME CHANGE: 19961121 8-K 1 FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 20, 2000 MID-STATE BANCSHARES ---------------------------------------------- (Name of Small Business Issuer in its Charter) CALIFORNIA 000-23925 77-0442667 - -------------------------------- ------------- -------------------- (State or Other Jurisdiction of (File Number) (I.R.S. Employer Incorporation or Organization) Identification No.) 1026 GRAND AVE. ARROYO GRANDE, CA 93420 - ---------------------------------------- --------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, including area code: (805) 473-7700 Page 1 of 5 Pages Exhibit Index Page 4 ITEM 5. OTHER EVENTS On March 20, 2000, Carrol R. Pruett, Chairman and Chief Executive Officer of Mid-State Bancshares, announced that the Board of Directors has authorized a stock repurchase program for up to five percent (5%) of its outstanding shares. Based on the current outstanding shares, the buyback may result in the purchase of up to approximately 565,000 shares. These repurchases will be made from time to time by the Company in the open market or in block purchases or in privately negotiated transactions in compliance with the Securities and Exchange Commission (SEC) rules. The program will begin in April 2000 and is expected to be effective for one year. Please refer to the Press Release dated March 20, 2000, attached hereto and made a part hereof. Page 2 of 5 Pages Exhibit Index Page 4 SIGNATURES 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 hereunto duly authorized. Date: March 20, 2000 MID-STATE BANCSHARES By: /s/ JAMES G. STATHOS ----------------------- James G. Stathos Executive Vice President Chief Financial Officer By: /s/ CARROL R. PRUETT ----------------------- Carrol R. Pruett Chairman of the Board, President and Chief Executive Officer Page 3 of 5 Pages Exhibit Index Page 4 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION PAGE NO. - ----------- ----------- -------- 20 Press Release announcing Mid-State Bancshares Stock Repurchase Program 5 Page 4 of 5 Pages Exhibit Index Page EX-20 2 EXHIBIT 20 EXHIBIT 20 [MID-STATE LOGO] MID-STATE BANCSHARES NEWS RELEASE - -------------------------------------------------------------------------------- DATE: March 20, 2000 PHONE NUMBER: 805/473-7700 CONTACT: James G. Stathos NASDAQ SYMBOL: "MDST" TITLE: EVP/Chief Financial Officer WEBSITE: www.midstatebank.com MID-STATE BANCSHARES ANNOUNCES STOCK REPURCHASE PROGRAM ARROYO GRANDE, CALIFORNIA - Carrol R. Pruett, Chairman and Chief Executive Officer of Mid-State Bancshares (Nasdaq\NMS: MDST) announced today that the Board of Directors has authorized a stock repurchase program for up to five percent (5%) of its outstanding shares. Based on the current outstanding shares, the buyback may result in the purchase of up to approximately 565,000 shares. These repurchases will be made from time to time by the Company in the open market or in block purchases or in privately negotiated transactions in compliance with Securities and Exchange Commission (SEC) rules. The program will begin in April 2000 and is expected to be effective for one year. Mr. Pruett stated that "The Board of Directors considers Mid-State Bancshares' stock to be an attractive investment of corporate funds, and in the best interest of our shareholders. The buyback will reduce the number of outstanding shares, and fewer shares will result in better earnings per share (EPS) and a corresponding improvement in the return on equity of the Bank." Mid-State Bancshares is the parent holding company for Mid-State Bank, its wholly owned subsidiary. The Bank currently operates thirty-three commercial banking offices in San Luis Obispo, Santa Barbara, and Ventura counties. At December 31, 1999 the Company had total assets of $1.35 billion and total shareholders' equity of $160 million. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words, "estimate," "potential," "belief," and similar expressions may be included in, but are not limited to various filings made by the Company with the SEC, news releases or oral statements made with the approval of an authorized executive officer of the Company. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, the effects of future performance from increased competition that offers competitive loan and investment products, and local economic conditions that could affect loan demand. For nearly 40 years, Mid-State Bank has provided its customers with a friendly, home-based, community oriented bank. With assets of $1.4 billion and 33 office locations, Mid-State Bank employs over 750 San Luis Obispo, Santa Barbara, and Ventura County residents. Mid-State Bank . . . PARTNERS IN YOUR COMMUNITY SINCE 1961. # # # -----END PRIVACY-ENHANCED MESSAGE-----