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): December 22, 1998
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 December 22, 1998, Martin R. Sorensen, President, Chief Executive
Officer and Director of North Valley Bancorp and its subsidiary, North
Valley Bank, entered into a termination agreement providing for his
resignation from all positions held with the Bank and Bancorp. Attached
hereto as Exhibit 99 is the press release of North Valley Bancorp dated
December 14, 1998, 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 December 14, 1998.
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: January 4, 1999 Chief Financial Officer
Exhibit 99
PRESS RELEASE
For Immediate Release
December 14, 1998
Redding, California -- The Board of Directors of North Valley Bancorp
(NASDAQ: NOVB) has announced that President and CEO Martin R. Sorensen has
advised them of his intended resignation as President and CEO. The Board of
Directors is working with Mr. Sorensen to insure a smooth transition of
management and appreciates his professionalism and efforts to achieve the
future success of the Company.
North Valley Bancorp's principal subsidiary, North Valley Bank, operates
twelve commercial banking offices in Shasta and Trinity Counties in Northern
California, including two in-store supermarket branches and a Business Banking
Center. The Company is headquartered in Redding.
For Further Information Please Contact:
Sharon Benson
Senior Vice President & Chief Financial Officer
or
Rudolph V. Balma
Chairman of the Board
880 E. Cypress Ave.
Redding, CA 96002
(530) 221-8400
FAX 222-1768
