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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
/X/ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended March 31, 1997, OR
/ / Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the Transition Period from ____________ to
____________.
Commission File Number: 333-23525
TEHAMA BANCORP
(Exact name of registrant as specified in its charter)
CALIFORNIA 91-1775524
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
239 SOUTH MAIN STREET, RED BLUFF, CALIFORNIA 96080
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code): (916) 528-3000
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Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes_______ No _X_____
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.
Common Stock, No Par Value: 100 shares outstanding (April 28, 1997)
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PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
TEHAMA BANCORP AND SUBSIDIARY
Consolidated Balance Sheet
March 31, 1997
Assets
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Cash $1,000
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Total Assets $1,000
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Shareholder's Equity
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Common Stock, No Par Value, 4,000,000 shares
authorized, 100 shares issued $1,000
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Total Shareholder's Equity $1,000
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Notes to Consolidated Balance Sheet
(1) ORGANIZATION
Tehama Bancorp (the "Company") was incorporated January 15, 1977 under the
laws of the state of California for the purpose of becoming a bank holding
company for Tehama Bank (the "Bank"). The Company, the Bank and Tehama Merger
Corporation, a California corporation and wholly owned subsidiary of the Company
(the "Subsidiary") entered into a Plan of Reorganization and Merger Agreement
dated as of February 12, 1997 (the "Merger Agreement"), pursuant to the terms of
which the Bank will become a wholly owned subsidiary of the Company, with the
present stockholders of the Bank receiving one share of the common stock of the
Company for each share of the common stock of the Bank held by them (the
"Merger"). Consummation of the transaction contemplated by the Merger Agreement
is conditioned upon approval by various state and federal agencies and by the
shareholders of the Bank. During the period prior to the completion of the
Merger, the Company and the Subsidiary will be inactive corporations.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
As of the date of this report, the Merger has not yet been consummated, and
the Company has not conducted any business, does not lease or own any property,
and has not paid any remuneration to any employee or director.
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PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
As of the date of this report, there are no material legal proceedings
against the Company.
ITEM 2. CHANGES IN SECURITIES
As of the date of this report, only 100 shares of the Company's common
stock are outstanding, there is no market for the common stock, and no dividends
have been paid on the common stock.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
As of the date of this report, there are no defaults or delinquencies
relating to the Company.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
As of the date of this report, no matter has been submitted to a vote of
security holders.
ITEM 5. OTHER INFORMATION
Not applicable.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
As of the date of this report, no reports on Form 8-K have been filed
during the quarter for which this report is filed.
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SIGNATURES
Pursuant to the requirements of Section 13 of the Securities Exchange Act
of 1934, the registrant has caused this Report on Form 10-Q for the quarterly
period ended March 31, 1997, to be signed on its behalf by the undersigned,
thereunto duly authorized.
TEHAMA BANCORP
Date: April 28, 1997 /s/ Frank S. Onions
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Frank S. Onions
Senior Vice President and
Chief Financial Officer
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