Attached files

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EX-32.2 - EX-32.2 - NORTHERN CALIFORNIA BANCORP INCa11-13155_1ex32d2.htm
EX-31.1 - EX-31.1 - NORTHERN CALIFORNIA BANCORP INCa11-13155_1ex31d1.htm
EX-32.1 - EX-32.1 - NORTHERN CALIFORNIA BANCORP INCa11-13155_1ex32d1.htm
EX-31.2 - EX-31.2 - NORTHERN CALIFORNIA BANCORP INCa11-13155_1ex31d2.htm

 

 

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 10-Q/A

 

Amendment No. 1

 

x      Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934

 

for the quarterly period ended March 31, 2011

 

o         Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934 (No fee required)

 

for the period from               to                

 

Commission File Number 0-27666

 

NORTHERN CALIFORNIA BANCORP, INC.

(Name of Small Business Issuer in its Charter)

 

Incorporated in the State of California

IRS Employer Identification Number 77-0421107

Address:  601 Munras Avenue, Monterey, CA  93940

Telephone: (831) 649-4600

 

Check whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities 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  x  No  o

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes  o  No  o

 

Indicate by check mark whether the registrant is an accelerated filer, a non-accelerated filer, or a smaller reporting company (as defined in Rule 12b-2 of the Act).

 

Large accelerated filer o

 

Accelerated filer o

 

 

 

Non-accelerated filer o

 

Smaller reporting company x

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.  Yes  o  No  x

 

As of May 24, 2011, the Corporation had 1,785,891 shares of common stock outstanding.

 

 

 



 

Northern California Bancorp (the “Corporation”) amends its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2011 (filed on May 16, 2011), as set forth in this Form 10-Q/A (Amendment No. 1) to correct the table appearing in Note 7 (LOANS AND ALLOWANCE FOR LOAN LOSSES) to the Corporation’s unaudited consolidated financial statements for the quarter ended March 31, 2011 which summarizes the Bank’s investment in loans for which impairment has been recognized.  The first column of this table was inadvertently corrupted during the EDGAR conversion.  The disclosures contained in the other Items of the Form 10-Q are not amended and this Amendment No. 1 does not reflect events occurring after the original filing of the Quarterly Report on Form 10-Q, and does not modify or update those disclosures as presented in the Form 10-Q except to the extent set forth herein. Capitalized terms used herein and not defined shall have the meaning ascribed to such terms in the originally filed Form 10-Q.

 



 

(NOTE 7) LOANS AND ALLOWANCE FOR LOAN LOSSES

 

The following tables summarize the Bank’s investment in loans for which impairment has been recognized as of and for the three months ended March 31, 2011 and as of and for the year ended December 31, 2010.  Impaired loans consist of the loans on non-accrual status.

 

 

 

March 31, 2011

 

 

 

Recorded
Investment

 

Unpaid Principal
Balance

 

Related
Allowance

 

Average
Recorded
Investment

 

Interest Income
Recognized

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

Construction and land:

 

 

 

 

 

 

 

 

 

 

 

Land

 

$

265

 

$

265

 

$

 

$

265

 

$

 

One to four residential:

 

 

 

 

 

 

 

 

 

 

 

First Liens

 

1,178

 

1,178

 

 

1,255

 

 

Junior Liens

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

Secured

 

3,189

 

3,189

 

 

3,189

 

 

Consumer

 

 

 

 

 

 

SBA:

 

 

 

 

 

 

 

 

 

 

 

SBA, unguaranteed portion held for investment

 

 

 

 

 

 

SBA. guaranteed portion

 

1,564

 

1,564

 

 

1,631

 

 

 

 

 

 

 

 

 

 

 

 

 

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

Construction and land:

 

 

 

 

 

 

 

 

 

 

 

Land

 

1,596

 

1,596

 

106

 

1,596

 

 

Commercial real estate

 

851

 

889

 

60

 

894

 

 

One to four residential:

 

 

 

 

 

 

 

 

 

 

 

First Liens

 

810

 

810

 

43

 

810

 

 

Junior Liens

 

146

 

162

 

40

 

162

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

Secured

 

282

 

327

 

53

 

327

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

SBA:

 

 

 

 

 

 

SBA, unguaranteed portion held for investment

 

280

 

346

 

37

 

280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total:

 

 

 

 

 

 

 

 

 

 

 

Construction and land

 

$

1,861

 

$

1,861

 

$

106

 

$

1,861

 

$

 

Commercial Real Estate

 

851

 

889

 

60

 

894

 

 

One to four residential First Lien

 

1,988

 

1,988

 

43

 

2,065

 

 

One to four residential Junior Lien

 

146

 

162

 

40

 

162

 

 

Commercial and industrial

 

3,471

 

3,516

 

53

 

3,516

 

 

Consumer

 

 

 

 

 

 

SBA Unguaranteed portion

 

280

 

346

 

37

 

280

 

 

SBA Guaranteed portion

 

1,564

 

1,564

 

 

1,631

 

 

 

 

$

10,161

 

$

10,326

 

$

339

 

$

10,409

 

$

 

 

1



 

Item 6.  Exhibits

 

A.

 

EXHIBITS

 

 

 

 

 

 

 

31.1

Certification of the Chief Executive Officer of Northern California Bancorp, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

 

 

 

 

 

31.2

Certification of the Chief Financial Officer of Northern California Bancorp, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

 

 

 

 

 

32.1

Certification of the Chief Executive Officer of Northern California Bancorp, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 

 

 

 

 

 

32.2

Certification of the Chief Financial Officer of Northern California Bancorp, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

NORTHERN CALIFORNIA BANCORP, INC.

 

 

Date: May 24, 2011

By:

/s/ Charles T. Chrietzberg, Jr.

 

Charles T. Chrietzberg, Jr.

 

Chairman of the Board &

 

Chief Executive Officer

 

 

 

 

Date: May 24, 2011

By:

/s/ Bruce N. Warner

 

Bruce N. Warner

 

Chief Financial Officer and

 

Principal Accounting Officer

 

2