-----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,
 FXWFOOTz/nEl6MLCXc8EAhVdBgPOA/jmevkqjfl5LPTMn4Lt1ov3ajhcVfXyp7W+
 R9pIF/Lm2t/WrgKX17Re5A==

<SEC-DOCUMENT>0001179110-04-001082.txt : 20040113
<SEC-HEADER>0001179110-04-001082.hdr.sgml : 20040113
<ACCEPTANCE-DATETIME>20040113151843
ACCESSION NUMBER:		0001179110-04-001082
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040109
FILED AS OF DATE:		20040113

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:			LAGOMARSINO ROBERT J
		CENTRAL INDEX KEY:			0001198897

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23925
		FILM NUMBER:		04522674

	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>2004-01-09</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001027324</issuerCik>
        <issuerName>MID-STATE BANCSHARES</issuerName>
        <issuerTradingSymbol>MDST</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001198897</rptOwnerCik>
            <rptOwnerName>LAGOMARSINO ROBERT J</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>15.95</value>
<footnoteId id="F2"></footnoteId>
</conversionOrExercisePrice>
<transactionDate><value>2004-01-09</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>15.95</value>
<footnoteId id="F2"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2003-01-09</value>
</exerciseDate>
<expirationDate><value>2012-01-09</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
<footnoteId id="F1"></footnoteId>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>20000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>4000</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 $15.95 per share on January 9, 2002.  The option is now 40% vested with 4,000 shares eligible for exercise by Mr. Lagomarsino.</footnote>
<footnote id="F2">Shares granted at fair market value as of the market's closing on January 9, 2002.</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.  Mr. Lagomarsino exercised 4,000 shares of this grant on June 12, 2003 (Form 4 filed June 13, 2003).</footnote>
<footnote id="F4">Additional 4,000 shares vested on January 9, 2004 and are eligible for exercise by Mr. Lagomarsino at the exercise price of $15.95 per share.</footnote>
<footnote id="F5">Shares granted to Mr. Lagomarsino by Company on January 9, 2002.  </footnote>
</footnotes>
<ownerSignature><signatureName>Robert J. Lagomarsino</signatureName>
<signatureDate>2004-01-13</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----