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): June 1, 1997
NORTH VALLEY BANCORP
(Exact name of registrant as specified in its charter)
Commission File Number: 0-10652
CALIFORNIA 94-2751350
(State of incorporation) (I.R.S. Employer
identification number)
880 E. Cypress Avenue, Redding, CA 96002
(Address of principal executive offices and zip code)
(916) 221-8400
(Registrant's area code and telephone number)
Item 5: Other Events
Redding, California -- Rudy V. Balma, Chairman of the Board of Directors
of North Valley Bancorp (Nasdaq Symbol: NOVB), announced on June 9, 1997, the
appointment of James F. Cowee as Chief Executive Officer and a Director of
North Valley Bancorp and its principal subsidiary, North Valley Bank, effective
June 1, 1997. Mr. Cowee succeeds Donald V. Carter as Chief Executive Officer,
following Mr. Carter's decision to step aside because of health reasons. Mr.
Carter will remain President and a Director of North Valley Bancorp and North
Valley Bank.
In accepting Mr. Carter's decision, the Board of Directors recognizes the
contributions of Mr. Cowee, as Executive Vice President since 1986, to the
growth and success of North Valley Bank. Prior to joining North Valley Bank,
Mr. Cowee was the manager of the Redding Office of Tri Counties Bank. He
previously was a vice president of United California Bank's Oakland Main Office
and served as a general manager of Chico Aviation, Inc. Mr. Cowee said he was
honored by Don Carter's confidence in him and the opportunity to lead the
management team that Don so carefully assembled. He indicated that his mission
will be to maintain and build upon North Valley Bank's reputation of excellence
in providing service to its customers while optimizing the value of the
Corporation for its shareholders.
North Valley Bank, with total assets of approximately $265 million as of
March 31, 1997, operates nine branches, four in Redding and one each in
Anderson, Shasta Lake City, Palo Cedro, Weaverville and Hayfork. The
Corporation has 1,828,948 shares of common stock outstanding held by more than
900 shareholders.
SIGNATURE
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.
NORTH VALLEY BANCORP
By
/s/ James F. Cowee
James F. Cowee
Chief Executive Officer
Dated: June 13, 1997.
