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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): __Form 10-K __Form 20-F X Form 11-K __Form 10-Q __Form N-SAR
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For the Plan Year ended 12-31-94 Commission File No. 0-15814
PART I - REGISTRANT INFORMATION
VENTURA COUNTY NATIONAL BANK
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
500 ESPLANADE DRIVE, 2nd FLOOR OXNARD, CALIFORNIA, 93030
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (CITY, STATE AND ZIP CODE)
PART II - RULES 12B-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
(a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, Form 11-K, Form N-SAR, or portion thereof, will
be filed on or before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report of transition
report on Form 10-Q, or portion thereof will be filed on or before the
fifth calendar day following the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
PART III - NARRATIVE
The filing of Form 11-K, annual report of employee stock purchase, savings and
similar plans pursuant to section 15(d) of the Securities Exchange Act of 1934,
has been delayed as Ventura County National Bancorp (the Company), has not
received from the 401K/ESOP ("Plan") Plan Administrator a complete summary
detailing all of the reconciling items necessary to tie out the final statements
of net assets (deficit) available for plan benefits, changes in net assets
(deficit) available for plan benefits and supplemental schedules for the Plan
year ended December 31, 1994. This information is necessary in order to
complete the FORM 11-K annual report. Additionally, as the final financial
statements for the 401K/ESOP Plan year ended December 31, 1994, are not
complete, the Independent Auditors (Deloitte & Touche) are unable to draw a
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conclusive opinion regarding the financial statements of the Plan for the year
ended December 31, 1994. As the Plan Administrator has substantially completed
the final statements of net assets (deficit) available for plan benefits,
changes in net assets (deficit) available for plan benefits and supplemental
schedules for the plan year ended December 31, 1994, and as the Company has
employed additional consultants to aid in the proper disposition of reconciling
items, it would cause the Company unreasonable effort and expense to employ
additional resources to meet the filing due date for the Form 11-K for the Plan
year ended December 31, 1994. The complete 11-K annual report will be filed no
later than the fifteenth calendar day following the June 29, 1995 deadline.
PART IV - OTHER INFORMATION
1. Name and telephone number of person to contact in regard to this notification
Simone Lagomarsino (805) 981-2765
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(Name) (Telephone Number)
2. Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months (or for such shorter) period that the
registrant was required to file such reports been filed? X Yes No
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3. Is it anticipated that any significant change in results of operations for
the corresponding period for the last fiscal year will be reflected by the
earnings statement to be included in the subject report or portion thereof?
Yes X No
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VENTURA COUNTY NATIONAL BANCORP
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: June 29, 1995 By: /s/ Simone Lagomarsino
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Simone Lagomarsino
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[LETTERHEAD OF DELOITTE & TOUCHE LLP]
June 29, 1995
Ms. Simone Lagomarsino
Chief Financial Officer
Ventura County National Bancorp
500 Esplanado Drive
Oxnard, CA 93030
Dear Ms. Lagomarsino
We have commenced our audit of the Ventura County National Bancorp Employee
Stock Ownership Plan (the "Plan") and are currently awaiting final
reconciliations of the Plan's assets from the Plan Administrator, in order to
complete our audit procedures. We anticipate completion of our audit of the Plan
by July 14, 1995.
Yours truly,
/s/ Deloitte & Touche LLP
Deloitte & Touche LLP
