UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 10-KSB/A

 

 

(Mark One)

 

 

ý

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

 

 

For the Fiscal Year Ended December 31, 2001

 

o

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

 

 

For the transition period from                           to                          

 

COMMISSION FILE NUMBER: 000-31977

 

CENTRAL VALLEY COMMUNITY BANCORP

(Name of small business issuer in its charter)

 

California

 

77-0539125

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

 

 

600 Pollasky Avenue, Clovis, California

 

93612

(Address of principal executive offices)

 

(Zip code)

 

 

 

Issuer’s telephone number (559) 298-1775

 

 

 

 

 

Securities registered under Section 12(b) of the Exchange Act:  NONE

 

 

 

 

 

Securities registered under Section 12(g) of the Exchange Act:  Common Stock, No Par Value

 

(Title of Class)

 

 

 

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  YES ý  No o

 

Check if no disclosure of delinquent filers in response to Item 405 of Regulation S-B is contained in this form, and no disclosure will be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB.  o

 

State issuer’s revenues for its most recent fiscal year: $ 19,268,691 *

 

State the aggregate market value of the voting and non-voting common equity held by nonaffiliates computed by reference to the price at which the common equity was sold, or the average bid and asked prices of such common equity, as of March 15, 2002:  $ 14,834,820 *.

 

State the number of shares of Common Stock outstanding as of March 15, 2002:  1,295,489 *

 

DOCUMENTS INCORPORATED BY REFERENCE

 

None.

 

Transitional Small Business Disclosure Format (Check one): Yes o   No ý

 


* Amount unchanged from original 10-KSB of Central Valley Community Bancorp filed with the Securities and Exchange Commission on March 21, 2002.

 

 



 

EXPLANATORY NOTE

 

The undersigned registrant hereby amends Item 9 and Item 11 of Part III of its Annual Report on Form 10-KSB for the fiscal year ended December 31, 2001, which was filed with the Securities and Exchange Commission on March 21, 2002.

 

 

TABLE OF CONTENTS

 

ITEM 9 -

DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

 

 

ITEM 11 -

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

 

 

SIGNATURES

 

2



 

PART III

 

ITEM 9 -

DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

 

Section 16(a) Beneficial Ownership Reporting Compliance

 

Section 16(a) of the Securities Exchange Act of 1934 requires the Company’s officers and directors, and persons who own more than 10% of a registered class of the Company’s equity securities, to file reports of ownership and changes in ownership with the Securities and Exchange Commission (“SEC”).  Officers, directors and greater than 10% shareholders are required by SEC regulations to furnish the Company with copies of all Section 16(a) forms they file.  To the best knowledge of the Company, the only greater than ten-percent holder of the Company’s common stock is Mr. Louis McMurray and his related interests.

 

Based solely on its review of the copies of such forms received by it, or written representations from certain reporting persons that no Forms 4 and 5 were required for those persons, the Company believes that for the 2001 fiscal year the officers and directors of the Company complied with all applicable filing requirements, except that Thomas Sommer failed to include on his initial Form 5 one transaction involving a sale of stock, which was subsequently reported on an amended Form 5, and that Director Joseph B. Weirick failed to file a Form 5 to report the sale of 2,000 shares of Company Common Stock in November 2001, which was subsequently reported on a Form 5 which was filed with the SEC on May 19, 2003.

 

ITEM 11 -

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

 

PRINCIPAL SHAREHOLDERS

 

As of March 26, 2002, no individual (including any “group”, i.e., two or more persons acting as a partnership, limited partnership, syndicate or group for the purpose of acquiring, holding or disposing of voting stock issued by the Company) known to the Company owned beneficially more than five percent (5%) of the outstanding shares of its Common Stock except as follows:

 

Name and Address
of Beneficial Owner

 

Amount and Nature of
Beneficial Ownership

 

Percent
of Class

 

Daniel N. Cunningham
2517 West Shaw, Suite 109
Fresno, CA 93711

 

108,693

(1)

8.38

%

 

 

 

 

 

 

Steven D. McDonald
2975 S. MacDonough Road
Sanger, CA 93657

 

96,590

(2)

7.41

%

 

 

 

 

 

 

Louis McMurray
P.O. Box 569
Fresno, CA 93709

 

151,495

(3)

11.57

%

 

 

 

 

 

 

Financial Institutions Partners II, L.P.
and Hovde Capital, L.L.C.
1629 Colonial Parkway
Inverness, IL 60067

 

104,336

(3)

7.96

%

 

 

 

 

 

 

Donald H. Bruegman
198 Trout Lake Drive
Sanger, CA 93657

 

66,450

(5)

5.07

%

 

3



 


(1)           Includes 21,780 shares held as trustee for the Bradley and Joanne Quinn Living Trust as to which Mr. Cunningham disclaims beneficial ownership and 30,627 shares held under a power of attorney executed in favor of Mr. Cunningham by Eric Quinn as to which Mr. Cunningham disclaims beneficial ownership.  Also includes 1,000 shares which may be acquired within 60 days of the Record Date upon the exercise of options granted pursuant to the Central Valley Community Bancorp 2000 Stock Option Plan (the “2000 Plan”).

(2)           Includes 4,075 shares held as custodian for Mr. McDonald’s minor children, 402 shares held by Mr. McDonald’s spouse, 5,159 shares held in a family trust, 6,598 shares which may be acquired which may be acquired within 60 days of the Record Date upon the exercise of options granted pursuant to the Clovis Community Bank 1992 Stock Option Plan (the “1992 Plan”), and 1,000 shares which may be acquired within 60 days of the Record Date upon the exercise of options granted pursuant to the 2000 Plan.

(3)           Includes 13,134 shares held as Trustee of the Charles McMurray Living Trust, 13,137 shares held as Trustee of the Jed McMurray Living Trust, 100,528 shares held as Trustee of the Louis McMurray Living Trust, 10,500 shares held as Trustee of the Lou and Dena McMurray Living Trust, 13,196 shares which may be acquired within 60 days of the Record Date upon the exercise of options granted pursuant to the 1992 Plan and 1,000 shares which may be acquired within 60 days of the Record Date upon the exercise of options granted pursuant to the 2000 Plan.

(4)           Based on information contained in an Acquisition Statement under Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), dated November 9, 1998 received by the Company’s wholly-owned subsidiary, Clovis Community Bank (the “Bank”) from Financial Institutions Partners II, L.P. and Hovde Capital, L.L.C., which Acquisition Statement states that Hovde Capital, L.L.C. is the general partner of Financial Institutions Partners II, L.P.

(5)           Based on information contained in the most recent Acquisition Statement under Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) known to the Company to have been filed by Mr. Bruegman with the Federal Deposit Insurance Corporation (“FDIC”).

 

SECURITY OWNERSHIP OF MANAGEMENT

 

The following table sets forth certain information with respect to those persons nominated by the Board of Directors for election as director at the 2003 Annual Meeting of Shareholders of the Company, and certain Executive Officers of the Company and the Bank, including Daniel J. Doyle, President and Chief Executive Officer, Gayle Graham, Senior Vice President and Chief Financial Officer, Gary Quisenberry, Senior Vice President, Commercial and Business Banking, Thomas L. Sommer, Senior Vice President and Credit Administrator, and Shirley Wilburn, Senior Vice President, Consumer and Retail Banking (the “Named Executive Officers”), as well as with respect to all directors and executive officers as a group. All of the shares shown in the following table are owned both of record and beneficially except as indicated in the notes to the table. There is no family relationship between any of the directors or principal officers other than Sidney B. Cox and Wanda L. Rogers who are brother and sister.

 

4



 

Directors and Nominees, and
Officers

 

Age

 

Positions Held With the
Company

 

Director
or Officer
Since

 

Shares Beneficially Owned
as of March 26, 2002

 

Number

 

Percent
of Class

Sidney B. Cox

 

71

 

Director

 

2000

 

12,450

(1)

 

*

 

 

 

 

 

 

 

 

 

 

 

 

Daniel N. Cunningham

 

65

 

Chairman of the Board and Director

 

2000

 

108,693

(2)

8.38

%

 

 

 

 

 

 

 

 

 

 

 

 

Edwin S. Darden Jr.

 

57

 

Director

 

2001

 

7,100

 

 

*

 

 

 

 

 

 

 

 

 

 

 

 

Daniel J. Doyle

 

55

 

President, Chief Executive Officer and Director

 

2000

 

40,335

(3)

3.03

%

 

 

 

 

 

 

 

 

 

 

 

 

Gayle Graham

 

55

 

Senior Vice President and Chief Financial Officer

 

2000

 

7,053

(4)

 

*

 

 

 

 

 

 

 

 

 

 

 

 

Steven D. McDonald

 

52

 

Director

 

2000

 

96,590

(5)

7.41

%

 

 

 

 

 

 

 

 

 

 

 

 

Louis McMurray

 

55

 

Director

 

2000

 

151,495

(6)

11.57

%

 

 

 

 

 

 

 

 

 

 

 

 

Gary Quisenberry

 

50

 

Senior Vice President, Commercial and Business Banking(11)

 

2000

 

3,200

(7)

 

*

 

 

 

 

 

 

 

 

 

 

 

 

Wanda L. Rogers

 

69

 

Director

 

2000

 

43,607

(1)

3.36

%

 

 

 

 

 

 

 

 

 

 

 

 

William S. Smittcamp

 

49

 

Director

 

2000

 

28,152

(1)

2.17

%

 

 

 

 

 

 

 

 

 

 

 

 

Thomas L. Sommer

 

54

 

Senior Vice President and Credit Administrator

 

2000

 

14,199

(8)

2.17

%

 

 

 

 

 

 

 

 

 

 

 

 

Joseph B. Weirick

 

63

 

Director

 

2000

 

37,274

(9)

2.87

%

 

 

 

 

 

 

 

 

 

 

 

 

Shirley Wilburn

 

59

 

Senior Vice President, Consumer and Retail Banking(11)

 

2000

 

1,600

(10)

 

*

 

 

 

 

 

 

 

 

 

 

 

 

All directors and executive officers of the Company and the Bank as a group (13 in number)

 

 

 

 

 

 

 

551,748

 

40.19

%

 


* Beneficial ownership does not exceed one percent of common stock outstanding.

 

(1) Includes 1,000 shares which may be acquired upon the exercise of options granted pursuant to the 2000 Plan.

 

(2) See Principal Shareholders, note (1).

 

5



 

(3) Includes 9,375 shares which may be acquired upon the exercise of options granted pursuant to the 1992 Plan. Also, includes 24,900 shares which may be acquired upon the exercise of options granted pursuant to the 2000 Plan.

 

(4) Includes 1,000 shares which may be acquired upon the exercise of options granted pursuant to the 1992 Plan. Also includes 6,053 shares which may be acquired upon the exercise of options granted pursuant to the 2000 Plan.

 

(5) See Principal Shareholders, note (2).

 

(6) See Principal Shareholders, note (3).

 

(7) Includes 3,200 shares which may be acquired upon the exercise of options granted pursuant to the 1992 Plan.

 

(8) Includes 2,600 shares which may be acquired upon the exercise of options granted pursuant to the 1992 Plan. Also includes 1,720 shares which may be acquired upon exercise of options granted pursuant to the 2000 Plan.

 

(9) Includes 1,529 shares owned of record by Mr. Weirick’s wife, 7,922 shares owned of record by a minor child and 1,000 shares which may be acquired upon the exercise of options granted pursuant to the 2000 Plan.

 

(10) Includes 1,600 shares which may be acquired upon the exercise of options granted pursuant to the 1992 Plan.

 

(11) Mr. Quisenberry and Mrs. Wilburn are officers of the Bank only.

 

SIGNATURES

 

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

CENTRAL VALLEY COMMUNITY BANCORP

 

 

 

 

Date: May 20, 2003

By:

/s/ Daniel J. Doyle

 

 

 

Daniel J. Doyle

 

 

President and Chief Executive Officer

 

 

(principal executive officer)

 

6



 

I, Daniel J. Doyle, certify that:

 

1.               I have reviewed this annual report on Form 10-KSB/A of CENTRAL VALLEY COMMUNITY BANCORP; and

 

2.               Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report.

 

 

/s/ Daniel J. Doyle

 

Date: May 20, 2003

Daniel J. Doyle,

 

President and Chief Executive Officer and Director (principal executive officer)

 

 

I, Gayle Graham, certify that:

 

1.               I have reviewed this annual report on Form 10-KSB/A of CENTRAL VALLEY COMMUNITY BANCORP; and

 

2.               Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report.

 

 

/s/ Gayle Graham

 

Date: May 20, 2003

Gayle Graham,

 

Senior Vice President and Chief Financial Officer

(principal accounting officer and principal financial officer)

 

7