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):     January 20, 2005

MISSION COMMUNITY BANCORP

(Exact name of Registrant as specified in its charter)

CALIFORNIA	333-12982	770559736
(State or other jurisdiction of incorporation)	(File Number)	(I.R.S. Employer Identification No.)
581 Higuera Street, San Luis Obispo, CA		93401
(Address of principal executive office)		(Zip Code)
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02Election of Directors

On December 20, 2004, the Registrant’s Board of Directors appointed Richard Korsgaard to serve as a member of the Board of Directors of Mission Community Bancorp, to become effective January 1, 2005. Richard Korsgaard presently serves as the Executive Vice President/Chief Credit Officer for Mission Community Bank, San Luis Obispo, California.  Mr. Korsgaard intends to retire from his position with Mission Community Bank effective March 31, 2005, at which time, he would retain his position as a member of the Board of Directors of Mission Community Bancorp.  Additionally, Mr. Korsgaard would retain his position as a member of the Board of Directors of Mission Community Bank, which also became effective January 1, 2005. Mr. Korsgaard will receive no director compensation at this time; however, upon his retirement from Mission Community Bank, he would be eligible to receive director fees at the same level as is paid to other outside Board members.  It is anticipated Mr. Korsgaard will serve as a member, or alternate member, of all Bancorp Director Committees, including the Audit Committee.

Item 9.01.Financial Statement and Exhibits

(a)	Financial statements of businesses required
	None
(b)	Pro forma financial information
	None
(c)	Exhibit
	99.1 Press Release dated January 20, 2005.

Forward Looking Statements

This Form 8-K includes forward-looking information, which is subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act ant the Private Securities Litigation Reform Act of 1995.  When the Company uses or incorporates by reference in this Annual Report on Form 10-KSB the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “commit,” “believe” and similar expressions, the Company intends to identify forward-looking statements.

2

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.

Dated:  January 20, 2005	MISSION COMMUNITY BANCORP
	By: /s/ ANITA M. ROBINSON
		Anita M. Robinson President and Chief Executive Officer

3

EX-99.1

Exhibit 99.1

PRESS RELEASE

San Luis Obispo, California

January 20, 2005

Contact:  Anita M. Robinson (805) 782-5000

Richard Korsgaard Appointed to Board of Directors

Richard Korsgaard has been appointed to serve on the Board of Directors of Mission Community Bancorp and its subsidiary Mission Community Bank.

Mr. Korsgaard joined Mission Community Bank in July 2002 as its Executive Vice President/Chief Credit Officer.  Mr. Korsgaard will be retiring from this position in March 2005, after which, he will remain on the Board of Directors of both Mission Community Bank and Mission Community Bancorp.

Commenting on his appointment, William B. Coy, Chairman stated:  “Rich’s long time knowledge and expertise will be a great asset to the ongoing development of the bank.  He is very well respected in the banking industry, and by the Directors and employees of Mission Community Bank.”

Richard Korsgaard brings a 40 year banking career to the Board of Directors, during which he has served in a number of executive management positions.  He was the Organizing President, CEO and Director of Mariner’s Bank, a highly successful bank located in South Orange County, which was acquired in 1995 by Eldorado Bank headquartered in Laguna Hills, California.  Following the acquisition, he served as a Director and executive officer of Eldorado Bank.  In 2001 Eldorado Bank was acquired by California Bank & Trust, after which he served in the position of Senior Vice President.  In early 2002, he retired from the banking industry and relocated to the Central Coast.  During this time, he became interested in Mission Community Bank’s community development banking programs, and in July 2002 joined the bank’s executive management team.

Mission Community Bancorp, a bank holding company, is sole shareholder of Mission Community Bank with offices in San Luis Obispo, Paso Robles, Arroyo Grande and Nipomo, California. The bank has also opened a new Business Banking Center which is located at 3480 South Higuera in San Luis Obispo.

Mission Community Bank is a full service bank providing loan and deposit products in San Luis Obispo and northern Santa Barbara Counties.  As a Department of the Treasury Certified Community Development Financial Institution, the bank has been the recipient of several awards for its success in small business lending and community development banking services.  Please visit www.missioncommunitybank.com for more information on Mission Community Bank.

Forward Looking Statements

This Form 8-K includes forward-looking information, which is subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act ant the Private Securities Litigation Reform Act of 1995.  When the Company uses or incorporates by reference in this Annual Report on Form 10-KSB the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “commit,” “believe” and similar expressions, the Company intends to identify forward-looking statements.