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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,
 LkxiD2T7Jm5snEu9d/vkjuFbHit2g1NXNp6a+gFzN9OIs1ZI2SP+zMriERxPoe/8
 bpe39TSJ+6aAZESJcLYTWQ==

<SEC-DOCUMENT>0001179110-03-007105.txt : 20030908
<SEC-HEADER>0001179110-03-007105.hdr.sgml : 20030908
<ACCEPTANCE-DATETIME>20030908192917
ACCESSION NUMBER:		0001179110-03-007105
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030908
FILED AS OF DATE:		20030908

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:			MAGUIRE STEPHEN P
		CENTRAL INDEX KEY:			0001198898

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23925
		FILM NUMBER:		03886944

	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>2003-09-08</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001027324</issuerCik>
        <issuerName>MID-STATE BANCSHARES</issuerName>
        <issuerTradingSymbol>MDST</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001198898</rptOwnerCik>
            <rptOwnerName>MAGUIRE STEPHEN P</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>16.00</value>
<footnoteId id="F2"></footnoteId>
</conversionOrExercisePrice>
<transactionDate><value>2003-09-08</value>
<footnoteId id="F3"></footnoteId>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>J</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F4"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>4000</value>
<footnoteId id="F5"></footnoteId>
</transactionShares>
<transactionPricePerShare><value>16.00</value>
<footnoteId id="F2"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2000-09-08</value>
</exerciseDate>
<expirationDate><value>2009-09-08</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
<footnoteId id="F1"></footnoteId>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>20000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>16000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>By Company</value>
<footnoteId id="F6"></footnoteId>
</natureOfOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">Non-Qualified Stock Option (right to buy) - 20,000 shares granted September 8, 1999 at an exercise price of $16.00 per share.  Additional 4,000 shares will vest on September 8, 2003, bringing the total number of shares vested and eligible for exercise by Mr. Maguire to 16,000 shares.</footnote>
<footnote id="F2">Shares granted at closing fair market value as of September 8, 1999.</footnote>
<footnote id="F3">Additional 4,000 shares vesting under this grant, bringing the total number of vested eligible shares for exercise to 16,000.</footnote>
<footnote id="F4">Under the terms of the Company's 1996 Stock Option Plan, this option 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 1996 Stock Option Plan.  To date, no shares under this stock option grant have been exercised by Mr. Maguire.</footnote>
<footnote id="F5">Additional shares vesting and available for exercise by Mr. Maguire at the exercise price of $16.00 per share.</footnote>
<footnote id="F6">Stock Option grant issued by the Company on September 8, 1999.  To date, Mr. Maguire has not exercised any shares under this grant, and the shares are held in the Company's 1996 Stock Option Plan.</footnote>
</footnotes>
<ownerSignature><signatureName>Stephen P. Maguire</signatureName>
<signatureDate>2003-09-08</signatureDate>
</ownerSignature>
</ownershipDocument>

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