-----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, U1Di0fPSCxp0yXT7qKIc0HF3Z5n6WaCxFZ4N5CHDDqw1iJl3dz/MeifaEemXG7SA tcrEcuZbx1teSQrpgulPiw== 0001047469-98-001353.txt : 19980119 0001047469-98-001353.hdr.sgml : 19980119 ACCESSION NUMBER: 0001047469-98-001353 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980116 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980116 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BSM BANCORP CENTRAL INDEX KEY: 0001027324 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-16951 FILM NUMBER: 98508369 BUSINESS ADDRESS: STREET 1: P O BOX 6090 CITY: SANTA MARIA STATE: CA ZIP: 93456-6090 MAIL ADDRESS: STREET 1: P O BOX 6090 CITY: SANTA MARIA STATE: CA ZIP: 93456-6090 8-K 1 FORM 8-K 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): January 16, 1998 BSM BANCORP (Exact name of registrant as specified in its charter) California 333-16951 No. 77-0442667 (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) 2739 Santa Maria Way, Santa Maria, California 93455 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (805) 937-8551 Not applicable (Former name or former address, if changed since last report) Item 5: OTHER EVENTS Attached hereto as Exhibit 99 is a Press Release announcing: (1) BSM Bancorp's financial results for the year ended December 31, 1997. Final audited financial statements with additional analysis will be filed as part of the Company's Form 10-K in March, 1998. (2) An increase in BSM Bancorp's common stock dividend. Item 7: FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits 99 (1) Copy of the aforementioned Press Release. SIGNATURE 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, on January 16, 1998. BSM BANCORP By: /s/ F. Dean Fletcher ------------------------ F. Dean Fletcher Executive Vice President Chief Financial Officer EX-99 2 EXHIBIT 99 EXHIBIT 99 FOR IMMEDIATE RELEASE January 16, 1998 For additional information contact: William Hares, President/CEO, ph. 937-8551, ext.300 LOCAL BANK BEGINS ITS 20TH YEAR WITH RECORD BREAKING EARNINGS As the Bank of Santa Maria enters its twentieth year serving local communities, earnings and assets reached an all time high. "It's gratifying to see that there still is a place for a good community bank here on the Central Coast, particularly with the rapid changes occurring in the banking industry." stated William Hares, President/CEO. 1997 end of year figures for BSM Bancorp, the parent company of Bank of Santa Maria, reveal a 7% growth in assets from $321.4 million in 1996 to $344.4 million in 1997. Income went up to $4.2 million in 1997 from $3.5 million in 1996, a 21% increase; and loans and deposits both grew approximately 7 % from 1996 to 1997. "This past year the Bank has made a tremendous effort to expand services and to fill the void left by the larger banks, especially in the small business and home lending area. The Bank added staff and a wide range of products at the beginning of the year to our mortgage department, with the result of approximately $20,000,000 loaned to local home buyers in the last eight months. For local business, the Bank established a microenterprise fund and expanded our SBA program, which includes the addition of the new, one page SBA Low Doc program. Local business received a total of $3,021,000 in SBA guaranteed loans from the Bank in 1997. The Bank of Santa Maria also introduced home computer banking, and added two branches in Lompoc and Atascadero. "All in all, it's been one heck of a year!" concluded William Hares. The Directors of BSM Bancorp are sharing last year's success with shareholders by granting a cash dividend of $.30 per share payable to shareholders of record as of January 26, 1998, and payable on February 6, 1998 - a 50% increase from the last dividend paid in July. The Bank of Santa Maria was founded by a group of local businessmen in 1978, and has become one of the Central Coast's most successful community banks with 13 branches employing over two hundred people from Lompoc to Paso Robles. -----END PRIVACY-ENHANCED MESSAGE-----