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) December 18, 2008
Heritage Oaks Bancorp
(Exact Name of Registrant as Specified in Its Charter)
California
(State or Other Jurisdiction of Incorporation)
000-25020 | 77-0388249 |
(Commission File Number) | (IRS Employer Identification No.) |
545 12th Street, Paso Robles CA | 93446 |
(Address of Principal Executive Offices) | (Zip Code) |
(805) 239-5200
(Registrant’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 registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 7.01 REGULATION FD DISCLOSURE
Paso Robles, CA – December 18, 2008 – Heritage Oaks Bancorp (NASDAQ: HEOP), parent company of Heritage Oaks Bank, today announced that as part of its continued effort to maintain loan quality and assess values of distressed assets during the current deterioration in the country’s economic environment, it has written down 23 loans made to 12 borrowers to the current fair market value of the underlying collateral. In aggregate, the Bank charged-off nearly $6.0 million in loan balances in the fourth quarter of 2008, with the majority of these charge-offs occurring during December. Of the loans that were charged-off this quarter, valuation allowances in the aggregate amount of $2.3 million had been recorded prior to September 30, 2008.
Please refer to the Press Release dated December 18, 2008 attached hereto and made part of.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 - Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |
99 | 99.1 Press Release dated December 18, 2008. |
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.
Date: December 18, 2008
Heritage Oaks Bancorp | |||
By: | /s/ Margaret Torres | ||
Margaret Torres | |||
Chief Financial Officer |
EXHIBIT INDEX
Exhibit Number | Description | |
99.1 | Press Release dated December 18, 2008. |