Bailout Bank Bio: Heritage Oaks Bancorp

May 28, 2009 | 2 min read | Print Article

Heritage Oaks Bancorp is a holding company that owns all of the outstanding common stock of Heritage Oaks Bank (the Bank). Heritage Oaks Bank is a state bank headquartered in Paso Robles, California with a branch office in Paso Robles, two branches in San Luis Obispo, one branch office in Cambria, one branch office in Arroyo Grande, three branch offices in Santa Maria, one branch office in Atascadero and one branch office in Morro Bay, one branch office in Templeton, one branch office in San Miguel, and two branch offices in Santa Barbara. The Bank conducts a commercial banking business in San Luis Obispo and Santa Barbara, including accepting demand, savings and time deposits, and making commercial, real estate, small business administration, agricultural, credit card and consumer loans. The company was founded in 1983.

In January Heritage Oaks announced that it would participate in the Treasury Department’s Capital Purchase Program. Under the program the company received $21 million in exchange for preferred stock.

Resources

Bank Bio Chart | Financial Documents | Federal contracts

Lobbying reports | Political Contributions | Related Articles

Bailout Bank Bio: Heritage Oaks Bancorp


Federal Equity Investment	$21 million
Total Revenue	$56.4 million (2008) $50.5 million (2007)
Net Income	$1.6 million (2008) $6.9 million (2007)
Number of Employees	242
Corporate Headquarters	Paso Robles, California
Business Sector	Bank
Officers and Directors	Ward, Lawrence, President, Chief Executive Officer, Director of the Company and Bank Morris, Michael, Chairman of the Board of the company and Bank Other Officers and Directors
Corporate Website	http://www.heritageoaksbancorp.com/
Executive Compensation	Heritage Oaks