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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): SEPTEMBER 30, 1999
PACIFIC CREST CAPITAL, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 95-4437818
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification number)
COMMISSION FILE NUMBER: 0-22732
30343 CANWOOD STREET
AGOURA HILLS, CALIFORNIA 91301
(Address of principal executive offices and zip code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (818) 865-3300
NOT APPLICABLE
(Former name or former address, if changed since last report)
<PAGE>
ITEM 1. CHANGES IN CONTROL OF REGISTRANT
Not Applicable
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Not Applicable
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not Applicable
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not Applicable
ITEM 5. OTHER EVENTS.
Attached hereto as Exhibit 99.1 is a Press Release dated September 30, 1999
with respect to an application filed by the Registrant's wholly owned
subsidiary, Pacific Crest Bank (the "Bank"), with the California Department of
Financial Institutions by which the Bank requested approval to convert from a
California-chartered industrial bank to a California-chartered commercial bank
(the "Conversion Application"). The press release also indicated that in
connection with the Conversion Application, the Registrant filed an application
with the Federal Reserve Board to become a registered bank holding company.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not Applicable
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements - Not Applicable
(b) Pro Forma Financial Information - Not Applicable
(c) Exhibits
99.1 Press Release dated September 30, 1999.
ITEM 8. CHANGE IN FISCAL YEAR
Not Applicable
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S
Not Applicable.
SIGNATURES
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.
PACIFIC CREST CAPITAL, INC.
(Registrant)
Date: October 7, 1999 By:
Lyle C. Lodwick
Executive Vice President
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EXHIBIT INDEX
99.1 Press Release dated September 30, 1999.
<PAGE>
EXHIBIT 99.1
Press Release dated September 30, 1999
<PAGE>
CONTACT: LYLE LODWICK PACIFIC CREST CAPITAL, INC.
EXECUTIVE VICE PRESIDENT 30343 CANWOOD STREET
818-865-3300 AGOURA HILLS, CA 91301
PACIFIC CREST
CAPITAL, INC.
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NEWS
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PACIFIC CREST CAPITAL, INC. ANNOUNCES FILING OF APPLICATION TO CONVERT
SUBSIDIARY, PACIFIC CREST BANK, TO COMMERCIAL BANK
Agoura Hills, California, September 30,1999...Pacific Crest Capital, Inc.
(NASDAQ NMS-PCCI) today reported that its subsidiary, Pacific Crest Bank, has
filed an application with the California Department of Financial Institutions
("DFI") to convert its charter from a California state chartered industrial bank
to a California state chartered commercial bank.
Lyle Lodwick, Executive Vice President, stated that "The primary motivation
for seeking the charter change is because the commercial bank charter permits
full-service checking accounts, whereas the industrial bank charter does not. We
believe full-service checking account options are desirable for our customers
and will enable the company to progress to a full-service on-line banking system
in the future."
The company also reported that in order to effectuate the bank charter
change, Pacific Crest Capital, Inc., the parent company of Pacific Crest Bank,
must register as a bank holding company. Pacific Crest Capital, Inc. has filed
an application with the Federal Reserve Board to become a bank holding company.
Subject to approval of the charter change, the DFI and the Federal Deposit
Insurance Corporation ("FDIC") will continue to regulate Pacific Crest Bank, and
Pacific Crest Capital, Inc. will be regulated by the Federal Reserve Board.
Conditional upon regulatory approvals, the company anticipates that the
charter conversion will occur in the fourth quarter of 1999.
The comments in this press release regarding the regulatory applications
may constitute forward-looking statements under Section 27A of the Securities
Act and Section 21E of the Securities and Exchange Act. The company cautions
that forward-looking statements include certain risks and uncertainties. Such
risks include the possibility that appropriate regulatory approvals will not be
obtained, or if regulatory approvals are obtained, that Pacific Crest Bank would
have difficulty or lack of success in implementing on-line banking and checking
account products in the future.
Pacific Crest Capital, Inc. is a financial institution holding company that
offers specialized lending and deposit programs through its FDIC-insured
California state chartered industrial bank, Pacific Crest Bank. For over 25
years, Pacific Crest Bank has specialized in providing fast and flexible
financing to California's small businesses, entrepreneurs and investors.
Products offered include customized commercial real estate loans, commercial
real estate construction loans, loans guaranteed by the Small Business
Administration, and specialized FDIC-insured savings programs. Pacific Crest
Bank is headquartered in Agoura Hills, California and operates three California
deposit gathering branches located in Beverly Hills, Encino and San Diego and
has loan production offices in Northern and Southern California; Portland,
Oregon; Seattle, Washington, and Phoenix, Arizona.
Previously released company press releases, SEC reports and other
information are available on the Company's Web page on the Internet at
http://www.paccrest.com.
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