UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): August 15, 2008
CAPITAL CORP OF THE WEST
(Exact Name of Company as Specified in Charter)
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California
(State or Other Jurisdiction
of Incorporation) | | 0-27384
(Commission File
Number) | | 77-0147763
(IRS Employer
Identification No.) |
550 West Main Street, Merced, California 95340
(Address of Principal Executive Offices) (Zip Code)
(209) 725-2200
(Company’s telephone number, including area code)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:
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| o | | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
TABLE OF CONTENTS
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| Item 5.02. | | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On August 15, 2008, Capital Corp of the West (the “Company”) announced that the Federal Reserve Bank of SF had approved the appointment of Richard Cupp as president and chief executive officer of the Company and its subsidiary County Bank effective August 15, 2008. Mr. Cupp joined the Company as a consultant on July 29, 2008, pending consideration of his appointment by the FRB. He will assume his executive duties immediately and will also join the boards of directors of both companies.
Mr. Cupp, age 68, has over 40 years of experience in the financial services industry, having held leadership roles within financial institutions of all sizes and regulatory charters. For the past 13 years, Cupp served as Chief Executive Officer of several independent commercial and savings banks and was responsible for significant improvements in operations, asset quality, regulatory and investor relations, earnings and shareholder valuation.
Since 2007 Mr. Cupp has been a member of a group organizing a de novo bank to be headquartered in Pasadena, California. From December 2002 through March 2007, he was President and Chief Executive Officer of 1st Century Bank, a newly chartered national banking institution headquartered in Los Angeles. From 1999 to 2002, he was president and chief executive officer of HF Bancorp, parent of Hemet Federal Bank.
Other banks Mr. Cupp has led include First Bank of Beverly Hills, HF Bancorp (Hemet Federal Bank) and Ventura County National Bancorp (VCNB). HF Bancorp was the largest independent banking institution in Riverside County, California, while VCNB was a multi-bank holding company whose principal subsidiary was Ventura County’s largest independent bank. From 1983 to 1993, he was Executive Vice President of CalFed, Inc., where he was responsible for CalFed’s entry into commercial banking. From 1963 to 1983, Mr. Cupp was with First Interstate Bancorp in a number of senior and executive positions.
Mr. Cupp’s terms of employment as president and chief executive officer are also subject to approval by the Federal Reserve Bank of San Francisco and will be filed as such time as his employment agreement is approved.
In light of Mr. Cupp’s approval by federal regulators and in accordance with prior announcements regarding this transition, Thomas T. Hawker announced his formal resignation as president and chief executive officer of the Company and as chief executive officer of County Bank and his resignation from the boards of directors of both companies to make way for Mr. Cupp.
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| Item 9.01. | | Financial Statements and Exhibits |
(c) Exhibits:
The exhibit list called for by this item is incorporated by reference to the Exhibit Index filed as part of this report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | Capital Corp of the West
(Company)
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| Dated: August 19, 2008 | By: | /s/ David A. Heaberlin | |
| | | David A. Heaberlin | |
| | | Executive Vice President/Chief Financial Officer | |
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Exhibit Index
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| Exhibit | | |
| Number | | Description |
| | 99.1 | | | Press release of the registrant dated August 18, 2008 |
