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): October 25, 2005 Pacific Capital Bancorp (Exact name of registrant as specified in its charter) California 0-11113 95-3673456 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 1021 Anacapa Street, Santa Barbara, CA 93101 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (805) 564-6405 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 (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events. On October 25, 2005 Pacific Capital Bancorp (the "Company") issued a press release announcing its financial results for the quarter and the nine months ended October 25, 2005. A copy of the press release, including unaudited financial information released as a part thereof, is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Company will include detailed financial statements and additional analyses for the quarterly period ended October 25, 2005, as part of its Form 10-Q covering that period. The press release contains financial information determined by methods other than in accordance with Generally Accepted Accounting Principles ("GAAP") for the United States. Management uses these non-GAAP measures in their analysis of the business and its performance. In particular, net interest income, net interest margin and operating efficiency are calculated on a fully tax-equivalent basis ("FTE") and the Company has amounts and ratios computed by excluding the assets, liabilities, and results of operation for the Company refund loan and transfer programs. Management believes that the measures calculated on a FTE basis provide a useful picture of net interest income, net interest margin and operating efficiency for comparative purposes. Net interest income and net interest margin on a FTE basis is determined by adjusting net interest income to reflect tax-exempt interest income on an equivalent before-tax basis. The efficiency ratio also uses net interest income on a FTE basis. The assets, liabilities, and results of operations of the Company's refund programs are reported in its periodic filings with the SEC as a segment of its business. Because these are unusual activities, users of the financial statements have indicated that they are interested in information for the Company exclusive of these programs so that they may compare the results of operations with financial institutions that have no comparable programs. The amounts and ratios may generally be computed from the information provided in the note to its financial statements that discloses segment information, but are computed and included in the press release for the convenience of those users. Non-GAAP information presented by other companies may not be comparable to that presented herein, since each company may define non-GAAP measures differently. Item 9.01 Financial Statements and Exhibits (c) Exhibits: Exhibit No. Description ------------------------------------------------------------- 99.1 Press release dated October 25, 2005. SIGNATURE Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. PACIFIC CAPITAL BANCORP Date: October 25, 2005 /s/ Donald Lafler ----------------- Donald Lafler Executive Vice President and Chief Financial Officer EXHIBIT INDEX Exhibit Number Description of Exhibits -------------- ----------------------- 99.1 Pacific Capital Bancorp press release dated October 25, 2005 with respect to financial results for the quarter ended September 30, 2005.