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): APRIL 25, 2000
PACIFIC CAPITAL BANCORP
(Exact name of registrant as specified in its charter)
CALIFORNIA 95-3673456
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification number)
Commission file number: 0-11113
200 East Carrillo Street, Suite 300
Santa Barbara, California 93101
(Address of principal executive offices and zip code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (805) 564-6310
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ITEM 5. OTHER EVENTS.
Reference is hereby made to the Registrant's press release attached hereto
as Exhibit 99.1 which meets the requirements for filing under Item 5 and is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit No. Description
99.1 Press Release dated April 25, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
PACIFIC CAPITAL BANCORP
Dated: April 25, 2000 By:
David W. Spainhour, President
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release dated April 25, 2000
<PAGE>
EXHIBIT 99.1
April 25, 2000
PACIFIC CAPITAL BANCORP NAMES THOMAS
PRESIDENT & CEO; SPAINHOUR BECOMES CHAIRMAN
OF THE BOARD
Santa Barbara, California, April 25, 2000 -- The Board of Directors of Pacific
Capital Bancorp (Nasdaq:SABB) today announced the appointments of two members
of its Senior Leadership Team to new positions within the Company. Effective
immediately, William S. "Tom" Thomas, Jr., assumes the role of President &
Chief Executive Officer of Pacific Capital Bancorp, in addition to retaining
his duties as President & CEO of Santa Barbara Bank & Trust. Thomas succeeds
David W. Spainhour, who has been appointed Chairman of the Board of Directors
of Pacific Capital Bancorp. Spainhour remains Chairman of the Board of Santa
Barbara Bank & Trust. Thomas was formerly Vice Chairman and Chief Operating
Officer with Pacific Capital Bancorp, and Spainhour formerly held the position
of President & CEO with the Company.
Spainhour assumes the holding company chairmanship from Donald M. Anderson,
who becomes Vice Chairman of the Board of Pacific Capital Bancorp and remains
a Vice Chairman with Santa Barbara Bank & Trust.
"These appointments appropriately acknowledge the significant contributions of
Dave and Tom in bringing our Company to this tremendous level of achievement
and positioning it for continued success in the future," said Anderson, who
has been with the Company for 30 years and is widely recognized for his tenure
and contributions within the Santa Barbara business community. "Together, they
formulated a strategic vision for the continued viability and success of
independent banking along the Central Coast and successfully carried it
forward, creating one of the most unique community bank networks in the
country, and returning a sound financial performance on behalf of our
shareholders.
"They truly represent the core values, vision and mission on which Santa
Barbara Bank & Trust was founded 40 years ago, and we are fortunate to have
them lead Pacific Capital Bancorp into the new century."
Thomas, 56, joined Santa Barbara Bank & Trust in August 1994 as Senior Vice
President & Manager of the Trust & Investment Services Division. He was named
Executive Vice President & Chief Operating Officer and was appointed to the
Board of Directors of both Santa Barbara Bank & Trust and Santa Barbara
Bancorp in 1995. The following year, Thomas was promoted to President & Chief
Executive Officer of the Bank. Thomas has 31 years of banking experience,
including 16 years with Security Pacific National Bank.
Spainhour, 68, joined Santa Barbara Bank & Trust as Controller in 1966. He was
named Senior Vice President in 1973, elected to the Board of Directors in
1974, and promoted to Executive Vice President in 1980. Spainhour was elected
President of Santa Barbara Bank & Trust in 1989, and assumed the role of
Chairman of the Board in 1996.
Anderson, 72, joined Santa Barbara Bank & Trust in 1969 as Vice President and
Commercial Lending Officer. He was elected President, CEO and a Director of
the Company in 1971, and was named Chairman of the Board in 1989.
Pacific Capital Bancorp, with $3.5 billion in assets, is the parent company of
Santa Barbara Bank & Trust, First National Bank of Central California and its
affiliate South Valley National Bank, a 37-branch California community bank
network serving communities from Morgan Hill in the north to Camarillo in the
south. During the first quarter of this year, Pacific Capital Bancorp
announced acquisition agreements to acquire San Benito Bank, which operates
offices in Hollister, San Juan Bautista, and Gilroy; and Los Robles Bancorp,
parent company of Los Robles Bank, which operates banking offices in Thousand
Oaks, Westlake Village, and Camarillo.
On April 10, Pacific Capital Bancorp announced record net income of $19.8
million for the first quarter of 2000, up $5.3 million, or 36.5%, compared to
earnings in the first quarter of 1999, the highest ever increase in quarter
over quarter earnings in the Company's history.
Contact: Deborah Lewis
Public Relations
(805) 884-6680
