Capital Corp Of The West (CCOW) 8-K Other Events

Exhibit 99.1
Monthly Report of Operations
Period ended May 31, 2009

UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF CALIFORNIA

In re:	Capital Corp of the West	Case no. [ILLEGIBLE]
		MONTHLY REPORT OF OPERATIONS

 MONTH ENDING 5/11-5/31 2009

Debtor in possession hereby submits its Monthly Report on the Cash Basis of accounting.

CASH BASIS

     Attached hereto are the following schedules:

A.	Cash Receipts and Cash Disbursements	X
B.	Summary of Receipts & Disbursements to Date	X
C.	Balance in Debtor in Possession Account	N/A
D.	Balance in Tax Account	N/A
E.	Balance in Citibank                     Account	N/A
F.	Post Petition Debts	N/A
G.	Accounts Receivable Balance	N/A
H.	Inventory Balance	N/A
I.	Federal and State Taxes	N/A
J.	Monthly Operating Statement Questionnaire	X
K.	Other Appropriate Schedules	X

     NOTES:  Schedules A, B, C, F, I & JMUSTbe filed.

Attach Schedules D, E, G, H & K if they are maintained in the ordinary course of the business.

(MOR-1:6/90)

SCHEDULE A
CASH RECEIPTS AND DISBURSEMENTS

RECEIPTS

Cash sales		N/A
Rents collected		N/A
Accounts receivable collected		—
Other receipts (describe):
a.
b.
1.                                        TOTAL RECEIPTS			$	—
DISBURSEMENTS
Payments to vendors for merchandise		N/A
Net payroll paid		30,885.90
Payroll taxes paid/deposited to tax account:
Employee withholdings		N/A
Employer portion		N/A
Sales taxes paid/deposited to tax account		N/A
Other disbursements (describe):
a.	NONE
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.
Miscellaneous (attach listing)
Living allowance or draw		N/A
2.                                         TOTAL DISBURSEMENTS			$	30,885.90
3.                 Receipts OVER or (UNDER) disbursements			$	(30,885.90	)

(MOR-1:6/90)

SCHEDULE B
SUMMARY OF CASH TRANSACTIONS
SINCE FILING PETITION

4.	Total receipts to date	$	-
	(Prior month Schedule B line 4 plus current month Schedule A line 1)
5.	Total disbursements to date	$	-
	(Prior month Schedule B line 5 plus current month Schedule A line 2)
6.	Net receipts over (under) disbursements	$	-

SCHEDULE C - SEE ATTACHED SPREADSHEET
BALANCE IN DEBTOR IN POSSESSION ACCOUNT

Balance at end of last month	$	-
Net transactions for this month (Line 3 - Schedule A)		-
Balance at end of this month	$	-

SCHEDULE D - SEE ATTACHED SPREADSHEET
BALANCE IN TAX ACCOUNT

Balance at end of last month	$	-
Add deposits from general account		-
Subtotal	$	-
Deduct payments to taxing agencies
Balance at end of this month	$	-

SCHEDULE E - SEE ATTACHED SPREADSHEET
BALANCE IN  Citibank          ACCOUNT

Balance at end of last month	$	-
Add deposits from general account
Subtotal	$	-
Deduct disbursements
Balance at end of this month	$	-

(MOR-1:6/90)

SCHEDULE F
POST PETITION DEBTS

Balance at end of last month -----------Not Applicable	$	-
Add debts incurred this month
Subtotal	$	-
Deduct payments made this month on this balance		-
Subtotal	$	-
Adjustments(Explain on separate sheet)		-
Balance at end of this month.(Attach listing)	$	-

SCHEDULE G
ACCOUNTS RECEIVABLE BALANCE

Balance of receivables at end of last month -----------Not Applicable	$	-
Add new receivables for this month		-
Subtotal	$	-
Deduct accounts collected(From Schedule A)		-
Subtotal	$	-
Adjustments(Explain on separate sheet)		-
Balance at end of this month(Attach listing)	$	-

SCHEDULE H
INVENTORY AND COST OF GOODS SOLD

Inventory balance at end of last month -----------Not Applicable	$	-
Add merchandise purchase		-
Total inventory available		-
Adjustments (Explain on separate sheet)		-
Less inventory balance at end of this month		-
Total (Cost of goods sold)	$	-

(MOR-1:6/90)

SCHEDULE I
FEDERAL AND STATE TAXES

1.     Tax balance at end of last month -----------Not Applicable   $ -

PAYROLL TAX LIABILITY THIS MONTH:

Period: o Weekly o Biweekly o Semimonthly o Monthly

Fed. Employer or S.S. #                                                 EDD ID#      

Withholdings:
Federal income tax	$	-
FICA withheld
State income tax
State disability
Employer tax liability:
FICA
Federal unemployment
State unemployment

2.               Total payroll taxes due   $ -

SALES TAX LIABILITY THIS MONTH:

     State Board of Equalization ID#                                             

Sales tax liability	$	-
Other (excise, city, business, etc.)

3.                Total sales taxes due     $ -

SUMMARY OF TAX PAYMENTS MADE THIS MONTH:

Payee	Date Paid	Bank Acct. #	Check #	Amount
				$	-

4.                Total payments made	$	-
Tax balance at end of this month(add line 1+2+3 less line 4)	$	-

(MOR-1:6/90)

0

SCHEDULE J
MONTHLY OPERATING STATEMENT QUESTIONNAIRE

		Yes	No	N/A
1.	Copies of checkbooks or receipts and disbursements listings attached:
	Debtor in possession account(Activated As Of June 5)		X
	Tax account			X
	Other account(Citibank Pre-DIP A/C # 203084249)	X
2.	Listing of unpaid post-petition debts			N/A
	(include unpaid professional fees and interest owed)
3.	Have any payments been made to secured creditors or lessors?		X
	(If yes - attach listing of payments made)
4.	(a) Have any payments been made to officers, shareholders, insiders,	X
	relatives or professionals?See Attached Payroll Summaries
	(If yes - attach listing of payments made)
	(b) Were these payments approved by the court?		X
5.	(a) Have any payments been made on prepetition debts?		X
	(If yes - attach listing of payments made)
	(b) Were these payments approved by the court?
6.	Do you carry insurance coverage of any kind?	X
	Attach copies of declaration pages(Data Previously Provided)
	Note: If you have previously submitted copies of declaration pages &
	there have been no changes in coverage initial here (no copies needed)
7.	Have U.S. Trustee quarterly fees been paid?		X
	(If yes - attach listing of payments made)
	(If no - attach explanation)               Fees Not Yet Due

DECLARATION OF DEBTOR

I certify under penalty of perjury that the foregoing is true and correct.

Executed on	June 12, 2009	/s/ David A. Heaberlin
	��
		(Signature) Debtor in Possession

I have reviewed the Monthly Report of Operations and, after making reasonable inquiry, believe that the information is true and correct.

          /s/ David A. Heaberlin(Signature of Preparer)
(Attorney or Accountant)

(MOR-1:6/90)

Capital Corp of the West
09-14298-B-11F

Cash/Bank Account	Beginning Balance						Transfers		Ending Balance
Bank & Acct #	11-May-09		Receipts		Disbursements		in (+)/out (-)		31-May-09
Citibank A/C # 203084249	$	6,735,188.17			$	30,885.90			$	6,704,302.27
	$	-							$	-
Citibank DIP Accounts (Active as of June 4, 2009):	$	-							$	-
Operating A/C # 9951707360	$	-							$	-
Federal Itax Refund A/C#9951707387	$	-							$	-
California Tax Refund A/C # 9951707416	$	-							$	-
Insurance Refund A/C # 9951 707424	$	-							$	-
	$	-							$	-
Total	$	6,735,188.17	$	-	$	30,885.90	$	-	$	6,704,302.27

Notes:
1.	All cash accounts (including petty cash) should be reflected on spreadsheet
2.	Transfers must total zero
3.	Total ending cash on hand must be supported by detailed registers, bank recs, balance sheet, etc.
4.	Net change in cash (receipts less disbursements) must be supported by detailed registers and Schedule A.
5.	Schedules C, D and/or E need not be completed if this spreadsheet is used. Notation should be made on Schedules C, D and/or E to “see attached spreadsheet.”
6.	Beg balance must agree with the prior month’s ending balance or, for the first month only, this amount should agree with the cash on hand as of the filing date.

	Capital Corp of the West
	Profit & Loss
Cash Basis	May 11 - 31, 2009

	May 11 - 31, 09
Income		0.00
Expense
Compensation Costs		30,885.90
Total Expense		30,885.90
Net Income		-30,885.90

Page 1

	Capital Corp of the West
	Profit & Loss Detail
Cash Basis	May 11 - 31, 2009

Type	Date	Name	Memo	Split	Original A...		Paid Amount
Income
Expense
Compensation Costs
Check	5/15/2009	Administaff	Week Ending May 15	Citibank		8,473.20		8,473.20
Check	5/22/2009	Administaff	Week Ending May 22	Citibank		11,206.35		11,206.35
Check	5/29/2009	Administaff	Week Ending May 29	Citibank		11,206.35		11,206.35
Total Compensation Costs								30,885.90
Total Expense								30,885.90
Net Income								-30,885.90

WebPayroll - Invoice Report Page 1 of 1

Invoice Report

CAPITAL CORP OF THE WEST(2606900)	Invoice #: 2943270
2801 G ST	Payroll Date: 05/15/2009
MERCED, CA95340-2133	Payroll #: 1
Payroll Contact: DAVID A HEABERLIN	Payroll Type: REGULAR - 1
Report Date: 5/12/2009	Period: 05/9/2009 through 05/15/2009

Billing Groups:
No.	Name	No. EEs		Service Fee %	Payroll Gross		Total Cost
0	UNASSIGNED		1	5.92		$8,000.00		$8,473.20
Total Summary:			1			$8,000.00		$8,473.20
Total additional charges or credits:								$0.00
Payroll amount due from client:								$8,473.20
TOTAL amount due from client:								$8,473.20
Due to Direct Deposit with ePayStub enrollment in this client number, the debit date for this payroll is paydate.

Check #

Check#

Employees

Status

Non DD

DD

Prev/Curr

W/C Code

W/C State

Benefits

Service Fee

Payroll Gross

HEABERLIN, DAVID

DD/EP

0

0 / 0

8810C

CA

S

5.92

%

$8,000.00

Direct Deposit Gross Pay:

$ 8,000.00

Check Gross Pay:

$  0.00

Non DD	NonDirect Deposit	E	Employee Coverage
DD	Direct Deposit	S	Employee & Spouse Coverage
D	Dental Only	C	Employee & Child Coverage
NH	New Hire	F	Employee & Family Coverage
EP	EPaystub	K	Employee & Children Coverage
C	W/C Cap	W	Coverage Waived
		I	Coverage Not Available

WebPayroll - Invoice Report Page 1 of 1

Invoice Report

CAPITAL CORP OF THE WEST(2606900)	Invoice #: 2947392
2801 G ST	Payroll Date: 05/22/2009
MERCED, CA95340-2133	Payroll #: 1
Payroll Contact: DAVID A HEABERLIN	Payroll Type: REGULAR - 1
Report Date: 5/20/2009	Period: 05/16/2009 through 05/22/2009

Billing Groups:
No.	Name	No. EEs		Service Fee %	Payroll Gross		Total Cost
0	UNASSIGNED		2	6.73		$10,500.00		$11,206.35
Total Summary:			2			$10,500.00		$11,206.35
Total additional charges or credits:								$0.00
Payroll amount due from client:								$11,206.35
TOTAL amount due from client:								$11,206.35
Due to Direct Deposit with ePayStub enrollment in this client number, the debit date for this payroll is paydate.

Check #

Check#

Employees

Status

Non DD

DD

Prev/Curr

W/C Code

W/C State

Benefits

Service Fee

Payroll Gross

CUPP, RICHARD

DD/EP

0

0 / 0

8810C

CA

I

9.33

%

$2,500.00

HEABERLIN, DAVID

DD/EP

0

0 / 0

8810C

CA

S

5.92

%

$8,000.00

Direct Deposit Gross Pay:

$ 10,500.00

Check Gross Pay:

$  0.00

Non DD	NonDirect Deposit	E	Employee Coverage
DD	Direct Deposit	S	Employee & Spouse Coverage
D	Dental Only	C	Employee & Child Coverage
NH	New Hire	F	Employee & Family Coverage
EP	EPaystub	K	Employee & Children Coverage
C	W/C Cap	W	Coverage Waived
		I	Coverage Not Available

WebPayroll - Invoice Report Page 1 of 1

Invoice Report

CAPITAL CORP OF THE WEST(2606900)	Invoice #: 2953234
2801 G ST	Payroll Date: 05/29/2009
MERCED, CA95340-2133	Payroll #: 1
Payroll Contact: DAVID A HEABERLIN	Payroll Type: REGULAR - 1
Report Date: 5/26/2009	Period: 05/23/2009 through 05/29/2009

Billing Groups:
No.	Name	No. EEs		Service Fee %	Payroll Gross		Total Cost
0	UNASSIGNED		2	6.73		$10,500.00		$11,206.35
Total Summary:			2			$10,500.00		$11,206.35
Total additional charges or credits:								$0.00
Payroll amount due from client:								$11,206.35
TOTAL amount due from client:								$11,206.35
Due to Direct Deposit with ePayStub enrollment in this client number, the debit date for this payroll is paydate.

Check #

Check#

Employees

Status

Non DD

DD

Prev/Curr

W/C Code

W/C State

Benefits

Service Fee

Payroll Gross

CUPP, RICHARD

DD/EP

0

0 / 0

8810C

CA

I

9.33

%

$2,500.00

HEABERLIN, DAVID

DD/EP

0

0 / 0

8810C

CA

S

5.92

%

$8,000.00

Direct Deposit Gross Pay:

$ 10,500.00

Check Gross Pay:

$  0.00

Non DD	NonDirect Deposit	E	Employee Coverage
DD	Direct Deposit	S	Employee & Spouse Coverage
D	Dental Only	C	Employee & Child Coverage
NH	New Hire	F	Employee & Family Coverage
EP	EPaystub	K	Employee & Children Coverage
C	W/C Cap	W	Coverage Waived
		I	Coverage Not Available

Capital Corp of the West
Balance Sheet

As of May 11, 2009

Cash Basis

	May 11, 09
ASSETS
Current Assets
Checking/Savings
Citibank			6,735,188.17
Total Checking/Savings			6,735,188.17
Total Current Assets			6,735,188.17
Fixed Assets
Furniture and Equipment
Computers		4,299.75
Furniture		1,662.38
Total Furniture and Equipment			5,962.13
Total Fixed Assets			5,962.13
TOTAL ASSETS			6,741,150.30
LIABILITIES & EQUITY
Liabilities
Long Term Liabilities
Trust Preferred Securities
County Statutory Trust 1		6,186,000.00
County Statutory Trust II		10,310,000.00
County Statutory Trust III		15,464,000.00
County Statutory Trust IV		25,774,000.00
Total Trust Preferred Securities			57,734,000.00
Total Long Term Liabilities			57,734,000.00
Total Liabilities			57,734,000.00
Equity
Opening Balance Equity			-57,734,000.00
Net Income			6,741,150.30
Total Equity			-50,992,849.70
TOTAL LIABILITIES & EQUITY			6,741,150.30

Page 1

Capital Corp of the West
Balance Sheet

As of May 31, 2009

Cash Basis

	May 31, 09
ASSETS
Current Assets
Checking/Savings
Citibank			6,704,302.27
Total Checking/Savings			6,704,302.27
Total Current Assets			6,704,302.27
Fixed Assets
Furniture and Equipment
Computers		4,299.75
Furniture		1,662.38
Total Furniture and Equipment			5,962.13
Total Fixed Assets			5,962.13
TOTAL ASSETS			6,710,264.40
LIABILITIES & EQUITY
Liabilities
Long Term Liabilities
Trust Preferred Securities
County Statutory Trust I		6,186,000.00
County Statutory Trust II		10,310,000.00
County Statutory Trust III		15,464,000.00
County Statutory Trust IV		25,774,000.00
Total Trust Preferred Securities			57,734,000.00
Total Long Term Liabilities			57,734,000.00
Total Liabilities			57,734,000.00
Equity
Opening Balance Equity			-57,734,000.00
Net Income			6,710,264.40
Total Equity			-51,023,735.60
TOTAL LIABILITIES & EQUITY			6,710,264.40

Page 1

	Citibank, N.A.     983
	P.O. Box 26892			320815/R1/20F013/0
	San Francisco, CA 94126-6892			013
				CITIBANK, N.A.
				Account
				203084249
				Statement Period
		CAPITAL CORP OF THE WEST		May 1 - May 31, 2009 Relationship Manager
		2801 G STREET		US SERVICE CENTER
		MERCED               CA 95340		1 -877-528-0990
				Page 1 of 6

CitiBusiness^® ACCOUNT AS OF MAY 31, 2009

Relationship Summary:
Checking	$	6,704,302.27
Savings		---
Investments		---
(not FDIC insured)
Checking Plus		---

WHEN PLANNING THAT NEXT GETAWAY
Plan on Citibank’s World Wallet® Service to make ordering Foreign Currency easier than ever.
You have a wide variety of Foreign Currencies,delivered right to
your door or place of business.
(Anywhere in the Continental U.S). Visit your nearest Financial
Center or Call 1-800-756-7050
Limits/Fees apply.

SERVICE CHARGE SUMMARY FROM APRIL 1, 2009 THRU APRIL 30, 2009

Type of Charge	No./Units		Price/Unit		Amount
CITIBUSINESS CHECKING # 203084249
Average Daily Collected Balance						$6,553,011.08
DEPOSIT SERVICES
MONTHLY MAINTENANCE FEE		1		15.0000		15.00
CHECKS PAID		14		.1400		1.96
DEPOSIT TICKETS		2		1.2500		2.50
ITEMS DEPOSITED		1		.1000		0.10
CITIBUSINESS ONLINE
CASH MANAGER SUITE		1		52.0000		52.00
TRANSFER SERVICES
INCOMING WIRE TRANSFER		4		10.0000		40.00
AUTOMATED CLEARING HOUSE (ACH)
ACH DEBIT RECEIVED		4		.1100		0.44
Total Charges for Services						$112.00
Average collected balances						$6,553,011.08
Less 10% reserve requirement						$655,301.10
Balances eligible for Earnings Credit						$5,897,709.98
Balances Required to Offset Service Charges						$227,136.00
Earnings Credit allowance at 0.60000%						$112.00	1
Charges Subject to Earnings Credit						$112.00
Net Service Charge						$0.00

 1   - Maximum Earnings Credit cannot exceed monthly fees eligible for offset

CAPITAL CORP OF THE WEST	Account 203084249	Page 2 of 6	320816/R1/20F013/0
	Statement Period - May 1 - May 31, 2009

     CHECKING ACTIVITY

CitiBusiness Checking
0203084249	Beginning Balance:	$	6,962,125.46
	Ending Balance:	$	6,704,302.27

Date		Description		Debits		Credits		Balance
	5/01	ACH DEBIT			11,246.61				6,950,878.85
		ADMINISTAFF COMP PAYROLL 0002606900     May 01
	5/05	DEPOSIT					50,530.00		7,001,408.85
	5/05	CHECK NO:	1037		806.01				7,000,602.84
	5/05	CHECK NO:	1038		146,272.73				6,854,330.11
	5/05	CHECK NO:	1039		500.00				6,853,830.11
	5/05	CHECK NO:	1041		400.00				6,853,430.11
	5/06	CHECK NO:	1017		600.00				6,852,830.11
	5/06	CHECK NO:	1042		400.00				6,852,430.11
	5/06	CHECK NO:	1033		220.00				6,852,210.11
	5/06	CHECK NO:	1044		200.00				6,852,010.11
	5/07	DEPOSIT					359.31		6,852,369.42
	5/07	CHECK NO:	1035		3,164.50				6,849,204.92
	5/08	ACH DEBIT			11,202.94				6,838,001.98
		ADMINISTAFF COMP PAYROLL 0002606900     May 08
	5/11	DOM WIRE OUT			64,577.23				6,773,424.75
	5/11	DOM WIRE OUT			27,487.19				6,745,937.56
	5/11	CBUSOL TRANSFER DEBIT			7,388.60				6,738,548.96
		WIRE TO ADP
	5/11	CBUSOL TRANSFER DEBIT			975.00				6,737,573.96
		WIRE TO JAS Development Cop
	5/14	CHECK NO:	1049		1,280.00				6,736,293.96
	5/14	CHECK NO:	1050		305.79				6,735,988.17
	5/15	ACH DEBIT			8,473.20				6,727,514.97
		ADMINISTAFF COMP PAYROLL 0002606900     May 15
	5/15	CHECK NO:	1043		400.00				6,727,114.97
	5/22	ACH DEBIT			11,206.35				6,715,908.62
		ADMINISTAFF COMP PAYROLL 0002606900     May 22
	5/22	CHECK NO:	1040		400.00				6,715,508,62
	5/29	ACH DEBIT			11,206.35				6,704,302.27
		ADMINISTAFF COMP PAYROLL 0002606900     May 29
		Total Debits /Credits			308,712.50		50,889.31

	Checks Paid
Check		Date		Amount		Check		Date		Amount		Check		Date		Amount		Check			Date		Amount
1017			5/06		600.00		1038		5/05		146,272.73		1041		5/05		400.00		1044			5/06		200.00
1033*			5/06		220.00		1039		5/05		500.00		1042		5/06		400.00		1049	*		5/14		1,280.00
1035*			5/07		3,164.50		1040		5/22		400.00		1043		5/15		400.00		1050			5/14		305.79
1037*			5/05		806.01

* Indicates gap in check number sequence Number Checks Paid: 13 Totaling: $ 154,949.03

     CUSTOMER SERVICE INFORMATION

IF YOU HAVE QUESTIONS ON:	YOU CAN CALL:	YOU CAN WRITE:
Checking	877-528-0990* (For Speech and Hearing Impaired Customers Only TDD: 800-945-0258)	Citibank, N.A. P.O. Box 26892 San Francisco, CA 94126-6892

For change in address, call your account officer or visit your branch.

*To ensure quality service, calls are randomly monitored.