UNITED STATES
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):March 24, 2009
SAN JOAQUIN BANCORP (Exact name of registrant as specified in charter) |
California | 000-52165 | 20-5002515 | ||
(State or Other Jurisdiction of | (Commission File Number) | (IRS Employer Identification No.) | ||
Incorporation) |
1000 Truxtun Avenue, Bakersfield, California 93301
(Address of Principal Executive Offices) (Zip Code)
661-281-0360
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (seeGeneral Instruction A.2. below):
- Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
- Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
- Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
- Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On March 24, 2009, based upon the recommendation of independent directors on the Registrant’s Compensation Committee (the "Committee"), the Company’s Board of Directors (the "Board") approved an increase of $5,000 per month in the compensation of John Ivy, Chief Credit Officer of San Joaquin Bank, for a one-year period ending March 15, 2010. Mr. Ivy will receive the increased compensation in exchange for increased responsibilities and additional work required for special tasks relating to the Company’s loan portfolio.
All other elements of Mr. Ivy’s compensation remain unchanged.
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.
SAN JOAQUIN BANCORP By:/s/ Stephen M. Annis |
Executive Vice President and Chief Financial Officer Date: March 27, 2009 |