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): December 29, 2004

PLACER SIERRA BANCSHARES

(Exact Name of Registrant as Specified in Charter)

California	0-50652	94-3411134
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

525 J Street, Sacramento, California 95814	95814
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (916) 554-4750

(Former Name or Former Address, if Changed Since Last Report) Not Applicable

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 (see General Instruction A.2. below):

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

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

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

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

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

Effective January 1, 2005, Sandra Smoley and Christi Black will be elected to the Board of Directors of Placer Sierra Bancshares (NasdaqNMS: PLSB). Ms. Smoley will serve on the Compensation Committee of the Board of Directors. Ms. Black will serve on the Governance and Nominating Committee of the Board of Directors.

Item 9.01 Financial Statements and Exhibits

99.1 December 29, 2004, press release.

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.

	Placer Sierra Bancshares
Date: December 30, 2004	By:	/s/ Ronald Bachli
	Name:	Ronald Bachli
	Title:	Chairman and Chief Executive Officer (principal executive officer)

EXHIBIT INDEX

Exhibit Number	Description
99.1	December 29, 2004, press release.

EX-99.1

Exhibit 99.1

News Release

FOR IMMEDIATE RELEASE

December 29, 2004

Media Contacts:

Ronald Bachli

President and CEO

Placer Sierra Bancshares

916.554.4700

PLACER SIERRA BANCSHARES ELECTS SMOLEY

AND BLACK TO BOARD OF DIRECTORS

Sacramento, Calif., December 29, 2004 — Placer Sierra Bancshares (Nasdaq: PLSB), a $1.9 billion commercial banking company serving the Central and Southern California markets, announced today it has elected Sandra Smoley and Christi Black to its Board of Directors.

Smoley brings over 30 years of experience dealing with local and state government agencies. Currently president and chief executive officer of The Sandy Smoley Group, a health-care consulting firm in Sacramento, Smoley has held several positions for the State of California, including a four-year appointment to the California Medical Assistance Commission in 1999. In addition, Smoley was instrumental in developing legislature which resulted in a comprehensive welfare reform program, among many other accomplishments while secretary of the Health and Welfare Agency for the State of California in the 1990s. Smoley has served on numerous boards throughout her career, including those of California banks.

“We are very fortunate to have Sandy Smoley on our Board. She brings a strong understanding of both the economic and social condition of our region. Among her many

attributes are the negotiation and consensus-building skills important for a director of such a fast-paced organization. Sandy also has a dynamic personality and is very well respected in the capitol region,” said Randy Reynoso, President and Chief Operating Officer of Placer Sierra Bancshares.

Christi Black has 20 years’ experience in marketing communications, social marketing and public affairs in California. She began her career in higher education, teaching at community colleges before moving to non-profit management. After gaining valuable experience in community development, public affairs and program operations, she transferred this expertise into forming a successful consulting practice that catered to government agencies, policy collaboratives and non-profit organizations.

Black joined Ogilvy Public Relations Worldwide, one of the country’s Top 10 largest agencies, when Ogilvy acquired her company in 2001. She manages client accounts throughout California and serves on Ogilvy’s international management committee. Black is respected in the industry as a successful business owner, an insightful strategic planner, and an expert on managing social marketing programs to reach ethnically and geographically diverse populations.

“Ms. Black and Ms. Smoley add a depth and breadth to our board which will help to take this company to the next level. We want our company to continually strive for excellence by being innovative and forward thinking. It’s critical to our success that we understand and connect with the communities we serve. Christi and Sandy bring the right kind of thinking and experience to help make that happen,” said Ron Bachli, Chairman and Chief Executive Officer of Placer Sierra Bancshares.

With the addition of Ms. Smoley and Ms. Black, Placer Sierra Bancshares now has 8 directors, 7 of whom are independent.

About Placer Sierra Bancshares

Placer Sierra Bancshares is a Northern California-based bank holding company for Placer Sierra Bank with 31 branches in an eight-county area of Northern California, including Placer, Sacramento, El Dorado, Sierra, Nevada, Amador, San Joaquin and Calaveras counties and 9 branches in Southern California’s Orange and Los Angeles counties. Placer Sierra Bank and its divisions, Sacramento Commercial Bank, Bank of Orange County and Bank of Lodi, offers its customers the resources of a large financial institution and the resourcefulness and superior customer service of a community bank.

Placer Sierra Bank offers a broad array of deposit products and services for both commercial and retail customers. These products include electronic banking, cash management services, electronic bill payment and investment services with an emphasis on relationship banking. Placer Sierra Bank also provides competitive loan products such as commercial loans and lines of credit, commercial real estate loans, Small Business Administration loans, residential mortgage loans, home equity lines of credit and construction loans. For more information, please visit www.placersierrabank.com.

Placer Sierra Bancshares is publicly traded on NASDAQ under the stock symbol PLSB. For more information about Placer Sierra Bancshares, please visit www.placersierrabancshares.com.

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