-----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, I1gGe+Po1ZKpTyp2aAgQcjseQrI41R2ry6mCqGePAYLC1BAwqM63BF5jhHl28S6M i2PAaSpHNrI7JSdF1wZt3Q== 0001015402-03-002699.txt : 20030709 0001015402-03-002699.hdr.sgml : 20030709 20030709151247 ACCESSION NUMBER: 0001015402-03-002699 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030709 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030709 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HERITAGE OAKS BANCORP CENTRAL INDEX KEY: 0000921547 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 770388249 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25020 FILM NUMBER: 03780042 BUSINESS ADDRESS: STREET 1: 545 12TH ST CITY: PASO ROBLES STATE: CA ZIP: 93446 BUSINESS PHONE: 8052395200 MAIL ADDRESS: STREET 2: 545 12TH ST CITY: PASO ROBLES STATE: CA ZIP: 93446 8-K 1 doc1.txt FORM 8K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SPECIAL REPORT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 HERITAGE OAKS BANCORP (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) JULY 9, 2003 STATE OF INCORPORATION: California I.R.S. EMPLOYER IDENTIFICATION NO.: 77-0388249 ADDRESS OF PRINCIPAL EXECUTIVE OFFICES: 545 12th Street Paso Robles, California 93446 REGISTRANT'S TELEPHONE NUMBER: (805) 239-5200 ITEM 7. FINANCIAL STATEMENT AND EXHIBITS (c) Exhibits 99.1# A press release relating to results of operations through the end of the second quarter ended June 30, 2003. ITEM 9. REGULATION FD DISCLOSURE(THE FOLLOWING IS PROVIDED UNDER ITEM 12 OF FORM 8-K) On July 9, 2003 Heritage Oaks Bancorp announced the results of operations through the end of the second Quarter ended June 30, 2003. 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 thereunto duly authorized. Heritage Oaks Bancorp --------------------- (Registrant) Date: July 9, 2003 /s/ Lawrence P. Ward Lawrence P. Ward President and Chief Executive Officer (Principal Executive Officer) Date: July 9, 2003 /s/ Margaret Torres Margaret Torres Chief Financial Officer (Principal Financial Officer) EX-99.1 3 doc2.txt Heritage Oaks Bancorp Press Release Continued Exhibit 7(c) 99.1 FOR IMMEDIATE RELEASE 1:00 PM PT, July 9, 2003 Quarterly Earnings Press Release Lawrence P. Ward, President and CEO of Heritage Oaks Bancorp (the Company) and its subsidiary, Heritage Oaks Bank (the Bank), announced the results of operations through the end of the second quarter June 30, 2003. Mr. Ward stated "for the six months ending June 30, 2003, the Company reported earnings of $1,703,859, or $0.54 per share on a fully diluted basis. This represents a 42% improvement over earnings of $1,199,641 or $0.38 per share on a fully diluted basis for the same period in 2002. For the six months ending June 30, 2003, the Company reported Return on Average Assets ( ROAA) and Return On Average Equity (ROE) of 1.07% and 16.33%, respectively". Mr. Ward went on to say that at June 30, 2003, "the Company reported growth in assets of 24%, growth in loans net of reserves of 26%, growth in deposits of 33% and growth in equity capital of 25% over the levels at the same period in 2002. " A strong economic climate and strong loan demand are the primary drivers behind the robust growth figures. Deposit growth is also reflective of a strong real estate market driven by historically low mortgage interest rates. Below is a summary un-audited balance sheet data for the periods ending June 30: (amounts in thousands)
2002 2003 Total Assets $282,652 $349,753 Loans, net of reserves $166,825 $209,553 Deposits $217,257 $289,606 Equity Capital $ 17,525 $ 21,840
Below is summary un-audited income statement data for: (amounts in dollars)
Three Months Ending Six Months Ending June 30, June 30, 2002 2003 2002 2003 Net Interest Income $2,989,318 $3,603,149 $5,899,240 $6,947,628 Non-Interest Income $ 797,885 $ 927,178 $1,580,001 $1,828,458 Non-Interest Expense $2,677,534 $2,979,768 $5,355,930 $5,848,491 Income Tax Expense $ 328,249 $ 546,269 $ 638,670 $ 973,736 Net After Tax Income $ 631,420 $ 879,290 $1,199,641 $1,703,859
Information regarding Heritage Oaks Bancorp stock may be acquired using the call sign of HEOP or accessed on line at www.heritageoaksbank.com. Information may also be acquired by calling our market makers, Hoefer and Arnett at 1-800-346-5544; The Seidler Co at 1-800-288-2811; Wedbush Morgan Securities at 1-800-234-0480; Sandler O'Neill & Partners, L.P. at 1-800-635-6860 or by Contacting Tana Eade-Davis AVP, Shareholder Relations Officer at Heritage Oaks Bank. Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, increased profitability, continued growth, the Company's beliefs as to the adequacy of its existing and anticipated allowances for loan losses, beliefs and expectations regarding actions that may be taken by regulatory authorities having oversight of the Company's operations, interest rates and financial policies of the United States government and general economic conditions. Additional information on these and other factors that could affect financial results are included in its Securities and Exchange Commission filings. -End -----END PRIVACY-ENHANCED MESSAGE-----