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) April 19, 2006
MID-STATE BANCSHARES
(Exact Name of registrant as specified in its charter)
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California |
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000-23925 |
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77-0442667 |
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(State or
other jurisdiction |
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(Commission |
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(IRS
Employer |
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1026 East Grand Avenue, Arroyo Grande, CA |
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93420 |
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(Address of principal executive offices) |
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(Zip Code) |
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Registrant’s telephone number, including area code (805) 473-7700
N/A
(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:
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))
SECTION 2 – FINANCIAL INFORMATION
Item 2.02 – Results of Operations and Financial Condition.
On April 19, 2006, Mid-State Bancshares reported diluted earnings of $0.38 per share for the three months ended March 31, 2006 on net income of $8.8 million. Results in the quarter were impacted by the adoption of Statement of Financial Accounting Standards (SFAS) No. 123R, “Share-Based Payment,” which changes the method of accounting for costs of stock options and other equity compensation. The adoption of the new statement resulted in increased expense which, after-tax, reduced earnings by approximately $397,000, or $0.02 per share. Net income in the comparable 2005 period prior to adoption of the new statement was $9.1 million, or $0.39 per share.
Please refer to the Press Release dated April 19, 2006, attached hereto and made a part hereof.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 - Financial Statements and Exhibits.
Exhibits
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Exhibit No. |
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Description |
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99 |
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Press Release announcing first quarter earnings – dated April 19, 2006 |
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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.
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Registrant: |
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MID-STATE BANCSHARES |
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Date: April 19, 2006 |
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/s/ JAMES W. LOKEY |
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James W. Lokey |
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President |
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Chief Executive Officer |
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By: |
/s/ JAMES G. STATHOS |
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James G. Stathos |
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Executive Vice President |
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Chief Financial Officer |
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EXHIBIT INDEX
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Exhibit No. |
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Description |
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Page No. |
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99 |
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Press Release announcing first quarter earnings – dated April 19, 2006 |
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5 |
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