-----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, I+vfl+1za7y1v4ZFZ4H2Al4cDsPqV0++eILi3NBQ9IEhhUVPsNIEdspTBKZ95nox C35yBr5nri9oWu6IOih87g== 0001171843-10-001698.txt : 20100819 0001171843-10-001698.hdr.sgml : 20100819 20100818201712 ACCESSION NUMBER: 0001171843-10-001698 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100816 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100819 DATE AS OF CHANGE: 20100818 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: 101026683 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 document.htm FORM 8-K FILING DOCUMENT

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) August 16, 2010


Heritage Oaks Bancorp
(Exact name of registrant as specified in its charter)

California   000-05020   77-0388249
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer Identification No.)


  545 12th Street, Paso Robles, CA   93446  
  (Address of principal executive offices)   (Zip Code)  

Registrant's telephone number, including area code:   805-369-5200



________________________________________________________________________________
(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:
  [   ] 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) and (c). Following receipt of all required regulatory approvals or non-objections, effective August 16, 2010, Heritage Oaks Bank (the "Bank"), the wholly owned subsidiary of Heritage Oaks Bancorp (the "Company") (NASDAQ: HEOP) promoted William Filippin, age 46, to Executive Vice President / Chief Credit Officer and Ronald Oliveira, age 54, to President. Lawrence P. Ward will continue to serve as Chief Executive Officer of the Bank and as President / Chief Executive Officer of the Company. Before his promotion, Mr. Filippin served as Senior Vice President / Commercial Lending Manager since joining the Bank in April, 2009. Prior to joining the Bank, Mr. Filippin served as Chief Credit Officer for American Principle Bank. Prior to American Principle, Mr. Filippin worked for Santa Lucia Bank for 14 years in various capacities, ultimately holding the title of Senior Vice President / Credit Administrator. As part of the promotion, Mr. Filippin received an increase in his base salary to $170,000. Otherwis e, Mr. Filippin's employment arrangement remains the same. Mr. Oliveira had been serving as Executive Vice President / Chief Credit Officer / Chief Operating Officer since he joined the Bank in July, 2009. Mr. Oliveira's compensation will remain the same as it was prior to the promotion. Prior to his appointment with the Bank, Mr. Oliveira served as Senior Vice President at Rabobank since December 2008 assisting with the expansion of both deposit and lending presence in the mid-sate region of California. Prior to that, Mr. Oliveira was Chairman at Equipoint Financial Services, a $2 billion diversified Real Estate banking institution.

On August 19, 2010, the Company announced that its Executive Vice President / Chief Financial Officer, Margaret Torres, tendered her resignation, which will be effective on August 31, 2010. The Company has instituted a search for an appropriate replacement, who will be subject to prior regulatory approval or non-objection.

A press release was issued by the Company on August 19, 2010, discussing the above management changes and is attached hereto as Exhibit 99.1, and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are being filed herewith:

Exhibit No. Description

99.1 Press Release from Heritage Oaks Bancorp dated August 19, 2010


SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

    Heritage Oaks Bancorp
(Registrant)

August 19, 2010
(Date)
  /s/ LAWRENCE P. WARD
Lawrence P. Ward
Chief Executive Officer
(Principal Executive Officer)
EX-99.1 2 newsrelease.htm PRESS RELEASE Heritage Oaks Bancorp Announces Promotion of Ronald Oliveira to President and William Filippin to Chief Credit Officer, and the Resignation of Chief Financial Officer Margaret Torres

EXHIBIT 99.1

Heritage Oaks Bancorp Announces Promotion of Ronald Oliveira to President and William Filippin to Chief Credit Officer, and the Resignation of Chief Financial Officer Margaret Torres

PASO ROBLES, Calif., Aug. 19, 2010 (GLOBE NEWSWIRE) -- Heritage Oaks Bancorp (Nasdaq:HEOP) ("Company"), the holding company of Heritage Oaks Bank (the "Bank"), today announced that following receipt of all required regulatory approvals or non-objections, effective August 16, 2010, the Bank has promoted William Filippin to Executive Vice President / Chief Credit Officer and Ronald Oliveira to President / Chief Operating Officer. Lawrence P. Ward will continue to serve as Chief Executive Officer of the Bank and as President / Chief Executive Officer of th e Company. 

Before his promotion, Mr. Filippin served the Bank as Senior Vice President / Commercial Lending Manager since joining the Bank in April, 2009. Prior to the Bank, Mr. Filippin served as Chief Credit Officer for American Principle Bank. Mr. Oliveira had been serving as Executive Vice President / Chief Credit Officer / Chief Operating Officer since he joined the Bank in July, 2009. Prior to his appointment with the Bank, Mr. Oliveira served as Senior Vice President at Rabobank since December 2008 assisting with the expansion of both its deposit and lending presence in the mid-state region of California. Prior to that, Mr. Oliveira was Chairman at Equipoint Financial Services, a $2 billion diversified Real Estate banking institution. 

Commenting on the promotions of Mr. Oliveira and Mr. Filippin, CEO Ward stated, "I am excited to announce these enhancements to our executive management team. I have worked closely with Ron and Bill over the last twelve months in a very difficult economic environment. Their expertise has helped to stabilize the Bank's asset quality and I look forward to working with them as we go forward in these challenging times."

The Company also announced that its Executive Vice President / Chief Financial Officer, Margaret Torres, tendered her resignation to be effective on August 31, 2010. The Company has instituted a search for an appropriate replacement, who will be subject to prior regulatory approval or non-objection. 

Commenting on the resignation of Ms. Torres, CEO Ward, said: "It has been my great pleasure to work side-by-side with Margaret for the last 11 years. She has been a wonderful asset to the Bank and we will all miss her. We wish her all the best in her future endeavors."

About the Company

Heritage Oaks Bancorp is the holding company for Heritage Oaks Bank which operates as Heritage Oaks Bank and Business First, a division of Heritage Oaks Bank. Heritage Oaks Bank has its headquarters plus one branch office in Paso Robles, two branch offices in San Luis Obispo, single branch offices in Cambria, Arroyo Grande, Atascadero, Templeton, San Miguel and Morro Bay and three branch offices in Santa Maria. Heritage Oaks Bank conducts commercial banking business in San Luis Obispo County and Northern Santa Barbara County. The Business First division has two branch offices in Santa Barbara. Visit Heritage Oaks Bancorp on the Web at www.heritageoaksbancorp.com.

The Heritage Oaks Bancorp logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7045

Securities Laws Matters

Statements concerning future performance, developments or events, expectations for growth, income forecasts, sales activity for collateral, 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 the Company's and Bank's ability to successfully comply with the previously announced regulatory proceedings to which they are subject, the ongoing financial crisis in the United States and the markets in which the Company operates, and the response of the federal and state government and our regulators thereto, continued growth, the Bank'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 Bank's operations, interest rates and financial policies of the United States government, continued weakness in the real estate markets within which we operate and general economic conditions. Additional information on these and other factors that could affect financial results are included in Heritage Oaks Bancorp's Securities and Exchange Commission filings. If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, Heritage Oaks Bancorp's results could differ materially from those expressed in, implied or projected by such forward-looking statements. Heritage Oaks Bancorp assumes no obligation to update such forward-looking statements.

CONTACT:  Heritage Oaks Bancorp
          Lawrence P. Ward, CEO
          (805) 369-5200
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