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): February 16, 1999
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)
(530) 221-8400
(Registrant's area code and telephone number)
Item 5: Other Events
On February 10, 1999, the Board of Directors appointed
Michael J. Cushman as the new President, Chief Executive Officer
and Director of the Company and its principal subsidiary, North
Valley Bank. Mr. Cushman has been promoted from his position
of Senior Vice President, Chief Business Banking Officer of the
Bank. Attached hereto as Exhibit 99 is the press release of
North Valley Bancorp dated February 16, 1999, regarding the same
subject.
Item 7: Financial Statements and Exhibits
Listed below is the Exhibit filed as part of this report.
(99) Press Release dated February 16, 1999.
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/ Sharon Benson
Sharon Benson
Senior Vice President &
Dated: February 25, 1999 Chief Financial Officer
PRESS RELEASE
For Immediate Release
February 16, 1999
NORTH VALLEY BANCORP APPOINTS NEW CHIEF EXECUTIVE OFFICER
Redding, California - Rudy V. Balma, Chairman of the Board
of Directors of North Valley Bancorp (NASDAQ: NOVB), has
announced the appointment of
Michael J. Cushman as the new President, Chief Executive
Officer, and Director of the Company and its principal
subsidiary, North Valley Bank. Mr. Cushman has been
promoted from his position of Senior Vice President, Chief
Business Banking Officer of the Bank.
Mr. Cushman has twenty-two years of banking experience, of
which twenty years were with community banks located in
Redding, California. Prior to his employment with North
Valley Bank, he was President & Chief Executive Officer of
Country National Bank which was acquired by Tri-Counties
Bank.
Mr. Cushman said: "I am very excited about the opportunity
to lead this outstanding company. North Valley Bank has
historically been a top performer among California community
banks and it is with great pride that I accept this
challenge. The Bank had a number of successes in 1998,
specifically in opening two new supermarket branches and the
Business Banking Center. Additionally, the Bank addressed
significant upgrades to our technology plan. Key objectives
for 1999 are to expand the Investment Services Department,
to further enhance our branch delivery system, and to expand
services offered through the Business Banking Center."
"Mike" and his wife have lived in Redding most of their
lives. They are well known and very active members of the
community.
For Further Information Please Contact:
Rudolph V. Balma
Chairman of the Board
or
Sharon Benson
Senior Vice President & Chief Financial Officer
880 E. Cypress Ave.
Redding, CA 96002
(530) 221-8400
FAX 222-1768
