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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VoRWbVd03c7Oc7GDmxcJ3RGhKjGSTtVbJzZpeaF2wF2XOCODJm87gaBXnxr6Difv
 ampHTR6FJ0kEqZdkkqKoMA==

<SEC-DOCUMENT>0001179110-03-005675.txt : 20030814
<SEC-HEADER>0001179110-03-005675.hdr.sgml : 20030814
<ACCEPTANCE-DATETIME>20030814173805
ACCESSION NUMBER:		0001179110-03-005675
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030812
FILED AS OF DATE:		20030814

ISSUER:		

	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

	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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BELLO GRACIA B
		CENTRAL INDEX KEY:			0001198891

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23925
		FILM NUMBER:		03849023

	BUSINESS ADDRESS:	
		STREET 1:		MID-STATE BANCSHARES
		STREET 2:		POST OFFICE BOX 580
		CITY:			ARROYO GRANDE
		STATE:			CA
		ZIP:			93421-0580
		BUSINESS PHONE:		8054736829

	MAIL ADDRESS:	
		STREET 1:		MID-STATE BANCSHARES
		STREET 2:		POST OFFICE BOX 580
		CITY:			ARROYO GRANDE
		STATE:			CA
		ZIP:			93421-0580
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-08-12</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001027324</issuerCik>
        <issuerName>MID-STATE BANCSHARES</issuerName>
        <issuerTradingSymbol>MDST</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001198891</rptOwnerCik>
            <rptOwnerName>BELLO GRACIA B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1026 EAST GRAND AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARROYO GRANDE</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>93420</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable></nonDerivativeTable>
<derivativeTable><derivativeTransaction><securityTitle><value>Common Stock</value>
<footnoteId id="F1"></footnoteId>
</securityTitle>
<conversionOrExercisePrice><value>15.50</value>
<footnoteId id="F2"></footnoteId>
</conversionOrExercisePrice>
<transactionDate><value>2003-08-12</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>J</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F3"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>4000</value>
<footnoteId id="F4"></footnoteId>
</transactionShares>
<transactionPricePerShare><value>15.50</value>
<footnoteId id="F2"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2003-08-12</value>
</exerciseDate>
<expirationDate><value>2008-08-12</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
<footnoteId id="F1"></footnoteId>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>20000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>20000</value>
<footnoteId id="F3"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>By Company</value>
<footnoteId id="F5"></footnoteId>
</natureOfOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">Non-Qualified Stock Option (right to buy) - 20,000 shares granted at an exercise price of $15.50 per share on August 12, 1998.  Option is now fully vested and shares are eligible for exercise until August 12, 2008.</footnote>
<footnote id="F2">Shares granted at fair market value as of August 12, 1998.</footnote>
<footnote id="F3">Under the terms of the Company's 1996 Stock Option Plan, this option grant vests 20% per year on the anniversary date of the grant for five (5) years at which time the option becomes 100% vested.  Optionee has another five (5) years from the 100% vesting anniversary date to exercise the shares in accordance with the terms and conditions of the Company's Plan.  No shares under this stock option grant have been exercised by the individual date.</footnote>
<footnote id="F4">Additional 4,000 shares vested on August 12, 2003 and are eligible for exercise by Mrs. Bello at the exercise price of $15.50 per share.  This grant is now fully vested.</footnote>
<footnote id="F5">Shares granted to Mrs. Bello by Company on August 12, 1998.  Under this grant, no shares have been exercised to date.</footnote>
</footnotes>
<ownerSignature><signatureName>Gracia B. Bello</signatureName>
<signatureDate>2003-08-14</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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