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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A-1
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 11, 1998
MID-STATE BANCSHARES
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(Name of Small Business Issuer in its Charter)
CALIFORNIA 333-16951 77-0442667
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(State or Other Jurisdiction of (File Number) (I.R.S. Employer
Incorporation or Organization) Identification No.)
1026 GRAND AVE. ARROYO GRANDE, CA 93420
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including area code: (805) 473-7700
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(Former Name or Former Address, if changed since last report)
Page 1 of 5 Pages
Exhibit Index Page 4
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ITEM 5. OTHER EVENTS
On November 11, 1998, at its regular meeting of the Board of Directors
of Mid-State Bancshares, the Board declared a twelve cents per-share quarterly
cash dividend for all shareholders of record on December 31, 1998, payable on or
before January 22, 1999. The Board also adopted a new policy declaring a
quarterly dividend instead of the semi-annual dividends authorized in the past.
Please refer to the Press Release dated November 17, 1998 attached hereto and
made a part hereof.
Page 2 of 5 Pages
Exhibit Index Page 4
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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.
Date: February 18, 1999 MID-STATE BANCSHARES
By: /s/ James G. Stathos
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James G. Stathos
Executive Vice President
Chief Financial Officer
By: /s/ Carrol R. Pruett
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Carrol R. Pruett
President and Chief Executive Officer
Page 3 of 5 Pages
Exhibit Index Page 4
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE NO.
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20 Press Release announcing quarter cash dividend 5
and change in dividend policy to quarterly dividend
instead of semi-annual dividends
Page 4 of 5 Pages
Exhibit Index Page
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[GRAPHIC] MID-STATE BANCSHARES
NEWS RELEASE MEMBER FDIC
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FOR IMMEDIATE RELEASE TOTAL PAGES: 1
DATE: NOVEMBER 17, 1998
CONTACT: James G. Stathos
TITLE: Chief Financial Officer
PHONE NUMBER: 805/473-6803
NASDAQ SYMBOL: "MDST"
WEBSITE ADDRESS: www.midstatebank.com
MID-STATE BANK ANNOUNCES $0.12 PER-SHARE QUARTERLY CASH DIVIDEND
ARROYO GRANDE - Mid-State Bancshares President Carrol R. Pruett announced
that the Board of Directors of the Company has declared a twelve cents per-share
quarterly cash dividend for all shareholders of record on December 31, 1998. At
their meeting held on November 11, 1998, the Board of Directors established a
new policy declaring a quarterly dividend instead of the semi-annual dividends
authorized in the past
Executive Vice President and Chief Financial Officer James G. Stathos
states, "After recording a solid third quarter performance, we are pleased to be
able to pay this dividend to our shareholders. This action provides us the
opportunity to thank them for their loyal and continued support."
This payment represents the 62nd cash or stock dividend paid by Bancshares
or its subsidiary, Mid-State Bank. Based on 10,072,984 shares of outstanding
stock on November 13, 1998, the dividend results in payment of $1.2 million,
which will be distributed to the approximate 3,200 shareholders on January 22,
1999.
For nearly 40 years, Mid-State Bank has provided its customers with a
friendly, home-based, community oriented bank. With assets of $1.2 billion and
28 office locations, Mid-State Bank employs over 700 San Luis Obispo and Santa
Barbara County residents. Mid-State Bank...PARTNERS IN YOUR COMMUNITY since
1961.
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