HERITAGE OAKS BANCORP

HERITAGE OAKS BANCORP

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Company Overview
Heritage Oaks Bancorp is a US-based, public company that operates as a bank holding company of Heritage Oaks Bank. The company was founded in 1983 and conducts business from its headquarters located in Paso Robles, California. Its common shares are publicly traded on the NASDAQ National Market under the ticker symbol HEOP.
The company holds the securities and other equity interests of Heritage Oaks Bank for the purpose of owning a controlling interest and influencing the management decisions of this firm. It also provides group planning and strategy and in particular exercises financial control over its subsidiary, settles its general policy and appoints its top managements, and provides central services.
The company’s subsidiary, Heritage Oaks Bank provides a wide range of commercial banking services such as money market accounts, savings deposits, certificate of deposits, negotiable on withdrawal accounts, and time deposits. It also offers commercial and agricultural loans, installment loans, consumer loans, construction loans, SBA loans, credit cards, and real estate loans for single family residences or for commercial development. The bank provides its financial services to retail customers, farmers, and small to mid-sized businesses in California’s San Luis Obispo and northern Santa Barbara counties.
Business Summary
Bank Holding & Holding Company
Description and history
Heritage Oaks Bancorp is a California corporation organized in 1994 to act as a holding company of Heritage Oaks Bank (the ‘Bank’). In 1994, the Company acquired all of the outstanding common stock of the Bank in a holding company formation transaction.

The Bank was licensed by the California Department of Financial Institutions (‘DFI’) and commenced operation in January 1983. The Bank is 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. Bank conducts a commercial banking business in San Luis Obispo County and Northern Santa Barbara County, including accepting demand, savings and time deposits, and making commercial, real estate, SBA, agricultural, credit card, and consumer loans. It also offers installment note collection, issues cashier’s checks and money orders, sells travelers checks, and provides bank-by-mail, night depository, safe deposit boxes, and other customary banking services. Most of the Bank’s customers are retail customers, farmers and small to medium-sized businesses. The Bank takes real estate, listed and unlisted securities, savings and time deposits, automobiles, machinery and equipment as collateral for loans. The areas in which the Bank has directed virtually all of its lending activities are (i) commercial and agricultural loans, (ii) installment loans, (iii) construction loans, and (iv) other real estate loans or commercial loans secured by real estate.

The bank invests in obligations of U.S. government agencies and corporations, mortgage-backed securities, obligations of state and political subdivisions, and other securities.

The Company s Common Stock trades on the NASDAQ Capital Market under the symbol HEOP.

As of December 31, 2007, The Bank had 242 full-time equivalent employees. The Bank believes that its employee relations are positive.

Business Line
Operates as a bank holding company of Heritage Oaks Bank
Subsidiary
CCMS SYSTEMS INC
Advisor

IPO date
4/23/1999
US SIC Code
6712
Company Address
545 12th Street

City province or state postal code
93446, PASO ROBLES, CA
Phone: 1 (805) 239 52 00
Fax:
Country address: UNITED STATES OF AMERICA
Website url: www.heritageoaksbank.com