Mission Community Bancorp announced unaudited financial results for the quarter ended March 31, 2009. For the quarter, the company has reported net income of $204,000, or $0.12 per share, compared to a net loss of $106,000 or $0.10 per share, for the same period last year. Contributing to the company's first quarter net income was $478,000 of tax benefits, $351,000 of which was due to the bank's ability under the American Recovery and Reinvestment Act of 2009 to carry back 2008's net operating losses for five prior years.

Mission Community Bancorp announced proposal of annual meeting of shareholders to be held on May 27, 2009 to amend Section 3.2 of the company's bylaws to increase the authorized range of directors on the company's Board of Directors to between eight and fifteen directors.

Mission Community Bancorp, Annual General Meeting, May 27, 2009, at 16:00 US Pacific Time. Location: EMBASSY SUITES, 333 Madonna Road, San Luis Obispo, CA 93405,United States. Agenda: To elect the following nine persons to the Board of Directors to serve until the 2010 Annual Meeting of Shareholders and until their successors are elected and have qualified: Bruce M. Breault, Anita M. Robinson, Roxanne Carr, Gary E. Stemper, William B. Coy, Brooks W. Wise, Howard N. Gould, Karl F. Wittstrom, Richard Korsgaard; to amend Section 3.2 of the Company's bylaws to increase the authorized range of directors on the company's Board of Directors to between eight and fifteen directors; to approve, on an advisory and non-binding basis, the compensation paid to the company's Named Executive Officers; and to transact such other business as may properly come before the Meeting and any adjournment or adjournments thereof.