-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, fgweuAOYRiEvPakz570t4V2/RL+4l1cmEYsjSqgWHKhYLkwGdj/grDpje8jj3PXM tZRhqrZfDFWnOwq68o/xjA== 0000311094-95-000010.txt : 19950609 0000311094-95-000010.hdr.sgml : 19950609 ACCESSION NUMBER: 0000311094-95-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950608 ITEM INFORMATION: Other events FILED AS OF DATE: 19950608 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESTAMERICA BANCORPORATION CENTRAL INDEX KEY: 0000311094 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 942156203 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09383 FILM NUMBER: 95545919 BUSINESS ADDRESS: STREET 1: 1108 FIFTH AVE CITY: SAN RAFAEL STATE: CA ZIP: 94901 BUSINESS PHONE: 4152578000 MAIL ADDRESS: STREET 1: 1108 FIFTH AVENUE CITY: SAN RAFAEL STATE: CA ZIP: 94901 FORMER COMPANY: FORMER CONFORMED NAME: INDEPENDENT BANKSHARES CORP DATE OF NAME CHANGE: 19830801 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: June 8, 1995 Commission File Number: 1-9383 WESTAMERICA BANCORPORATION - -------------------------- (Exact name of registrant as specified in its charter) CALIFORNIA - ---------- (State of incorporation) 94-2156203 - ---------- (I.R.S Employer Identification Number) 1108 FIFTH AVENUE, SAN RAFAEL, CALIFORNIA 94901 - ----------------------------------------------- (Address of principal executive offices and zip code) (415) 257-8000 - -------------- (Registrant's area code and telephone number) Item 5. Other Events On June 6, 1995, the merger of CapitolBank Sacramento, with and into Westamerica Bancorporation (the "Company") became effective as of the close of business. The merger, which was announced on November 17, 1994 was approved by CapitolBank Sacramento shareholders on March 9, 1995. Federal Reserve Board approval was received on April 17, 1995 and California State Banking Department approval occurred on June 2, 1995. Under the terms of the merger, each share of CapitolBank common stock will be exchanged for .0882 shares of the Company's common stock. No gain or loss for tax purposes will be recognized by CapitolBank shareholders, except with respect to cash received in lieu of fractional shares. Based on the closing price of the Company's common stock on June 6, 1995, the acquisition would be valued at approximately $13.4 million or $3.20 per CapitolBank share. CapitolBank shareholders will also be eligible to receive the Company's regularly scheduled quarterly dividend of $0.20 per share of the Company's common stock, payable on August 9, 1995. The merger will result in the issuance of approximately 370,000 shares of the Company's common stock to CapitolBank shareholders. At March 31, 1995 the Company had 9.2 million shares of common stock outstanding. At March 31, 1995, the Company had total assets of approximately $2.21 billion, shareholders' equity of approximately $192 million and net income of approximately $7.2 million year to date. At March 31, 1995, CapitolBank Sacramento had approximately $127 million in assets, $116 million in deposits, $9.9 million in shareholders' equity and net income of $300,000 year to date. The combined company will operate as a multi-bank holding company with approximately $2.3 billion in assets and 54 branches in 12 Northern California counties. Item 7: Financial Statements and Exhibits (c) Exhibits. The following is furnished in accordance with the provisions of Item 601 of Regulation S-K. (99) Press release dated June 7, 1995. SIGNATURE 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. Westamerica Bancorporation /s/ DENNIS R. HANSEN - -------------------------- Dennis R. Hansen Senior Vice President and Controller Date: June 8, 1995 INDEX TO EXHIBITS Sequentially Numbered Exhibit No. Description Page - ----------- ----------- ------------ (99) Press release dated 3 June 7, 1995 EX-99 2 EXHIBIT 99 PRESS RELEASE For Immediate Release June 7, 1995 For additional information Contact: James Barnes Westamerica Bancorporation 415-257-8018 or Randall Reynoso Westamerica Bank - Sacramento (916) 920-3996 WESTAMERICA BANCORPORATION ACQUISITION OF CAPITOLBANK SACRAMENTO COMPLETED San Rafael, CA -- Westamerica Bancorporation (NASDAQ: WABC), parent company of Westamerica Bank, Napa Valley Bank and Bank of Lake County, announced today that the proposed acquisition of CapitolBank by Westamerica Bancorporation was completed as of the close of business on Tuesday, June 6, 1995. The merger, which was announced November 17, 1994, was approved by CapitolBank Sacramento shareholders on March 9, 1995. Federal Reserve Board approval was received April 17, 1995. California State Banking Department approval occurred on June 2, 1995. Under terms of the Merger Agreement each share of CapitolBank common stock will be exchanged for .0882 shares of Westamerica common stock. No gain or loss for tax purposes will be recognized by CapitolBank shareholders, except with respect to cash received in lieu of fractional shares. Based upon Westamerica's closing stock price on June 6, 1995 the acquisition would be valued at approximately $13.4 million or $3.20 per CapitolBank share. CapitolBank shareholders will also be eligible to receive Westamerica's regularly scheduled quarterly dividend of $0.20 per share of Westamerica common stock, payable on August 9, 1995. The merger will result in the issuance of about 370,000 new shares of Westamerica common stock to CapitolBank shareholders. At March 31, 1995 Westamerica had 9.2 million outstanding shares of common stock. As previously announced, at the close of business on June 9, CapitolBank is expected to be merged into Westamerica Bank. At that time CapitolBank's branch will become Westamerica Bank's branch in downtown Sacramento. At March 31, 1995, CapitolBank had total assets of approximately $127 million and total shareholders equity of $9.9 million. Westamerica Bancorporation has also previously announced the signing of an agreement to acquire North Bay Bancorp, the parent company of Novato National Bank, which operates two branches in Marin County and one branch in Sonoma County, with assets totaling approximately $94 million at March 31, 1995. This acquisition is expected to be consummated during the third quarter of 1995. Including the CapitolBank merger, Westamerica Bancorporation operates as a multi-bank holding company with 54 branches in 12 Northern California counties. Westamerica Bank, with $1.9 billion in assets at March 31, 1995, had 42 offices in nine Northern California counties. Napa Valley Bank, with $276 million in assets, operates in Napa County with 7 offices. Bank of Lake County, with 4 offices in Lake County, had $84 million in assets at March 31, 1995. -----END PRIVACY-ENHANCED MESSAGE-----