-----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, S8lKBqSongCEdMEFW3jWLfvxgJSYrvQq6B3svufNDe+HLI5nfMUMTPbIZm8f4EsS lPf1ZE/R9dIHGLW5A/v4Ag== 0000921085-00-000010.txt : 20000518 0000921085-00-000010.hdr.sgml : 20000518 ACCESSION NUMBER: 0000921085-00-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000515 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL COAST BANCORP CENTRAL INDEX KEY: 0000921085 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 770367061 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-25418 FILM NUMBER: 638534 BUSINESS ADDRESS: STREET 1: 301 MAIN ST CITY: SALINAS STATE: CA ZIP: 93901 BUSINESS PHONE: 4084226642 MAIL ADDRESS: STREET 1: P O BOX 450 CITY: SALINAS STATE: CA ZIP: 93902 FORMER COMPANY: FORMER CONFORMED NAME: SALINAS VALLEY BANCORP DATE OF NAME CHANGE: 19940330 8-K 1 CENTRAL COAST BANCORP- FORM 8-K 1 SECURITIES & EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15d of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 15, 2000 CENTRAL COAST BANCORP ----------------------------------------------------- (Exact name of registrant as specified in its charter) California 0-254018 77-0367061 - -------------------- ------------------- ---------------- (State or other jurisdiction of (Commission File Number) (I.R.S.Employer incorporation or organization) ID Number) 301 Main Street, Salinas, California 93901 -------------------------------------- -------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (831)422-6642 -------------- Not Applicable ------------------------------------------------------------- (Former name or former address, if changed since last report.) Page 1 of 5 The Exhibit Index is on Page 4 2 INFORMATION INCLUDED IN THE REPORT Item 5. Other Events. On May 15, 2000, CENTRAL COAST BANCORP of Salinas, California issued a press release announcing that the board of directors has authorized a stock repurchase program for up to five percent of the Company's outstanding shares. This is a new program instituted following completion of the previous five percent repurchase program announced in Ocotber 1998. The forgoing is qualified by reference to the press release attached as Exhibit-99.1. Item 7. Financial Statements and Exhibits. (a) Financial Statements. Not Applicable. (b) Pro Forma Financial Information. Not Applicable. (c) Exhibits. (99.1) Press Release dated May 15, 2000 3 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. CENTRAL COAST BANCORP Date: May 15, 2000 By: /s/ ROBERT STANBERRY ------------------- Robert Stanberry (Chief Financial Officer and Principal Accounting Officer) 4 EXHIBIT INDEX Sequential Exhibit No. Description Page No. - ----------- ----------- -------- 99.1 Press Release dated May 15, 2000 5 EX-99.1 2 STOCK REPURCHASE PLAN 5 Exhibit 99.1 For Immediate Release May 15, 2000 CENTRAL COAST BANCORP PRESS RELEASE Contact: Robert Stanberry Chief Financial Officer For Immediate Release (831) 422-6642 CENTRAL COAST BANCORP ANNOUNCES STOCK ------------------------------------- REPURCHASE PROGRAM ------------------ Salinas, California - May 15, 2000. Nick Ventimiglia, Chairman, President and CEO of Central Coast Bancorp (Nasdaq: CCBN) today announced that the board of directors has authorized a stock repurchase program for up to five percent of the Company's outstanding shares. This is a new program instituted following completion today of the previous five percent repurchase program announced in October 1998. The repurchases will be made from time to time by the Company in the open market or in block purchases in compliance with Securities and Exchange Commission (SEC) rules. Based on the current outstanding shares, up to approximately 348,000 shares may be repurchased. The program will begin immediately. Ventimiglia stated: "Repurchase of Central Coast Bancorp's stock provides value for our shareholders in that it enhances per share earnings and improves the return on equity of the Company." Central Coast Bancorp operates as a holding company for Community Bank of Central California. Community Bank, headquartered in Salinas, serves Monterey County and nearby areas with offices located in Salinas, North Salinas, Monterey, Seaside, Marina, Castroville, Gonzales and King City. The Bank has recently received regulatory approval to open a branch office in Watsonville, Santa Cruz County. The Bank provides traditional deposit, lending, mortgage and commercial products and services to business and retail customers throughout Monterey County and the California Central Coast area. Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. The reader of this press release should understand that all such forward-looking statements are subject to various uncertainties and risks that could affect their outcome. The Company's actual results could differ materially from those suggested by such forward-looking statements. Changes to such risks and uncertainties, which could impact future financial performance, include, among others; (1) competitive pressures in the banking industry; (2) changes in the interest rate environment; (3) general economic conditions, nationally, regionally and in the operating market areas of the Company and the Banks; (4) changes in the regulatory environment; (5) changes in business conditions and inflation; (6) changes in securities markets. 301 Main Street, Salinas, California 93901 -----END PRIVACY-ENHANCED MESSAGE-----