San Joaquin Bancorp announced that Stephen Annis resigned as Chief Operating Officer of the company. On October 16, 2009, Mark Taylor resigned as Chief Financial Officer of the company.

Effective as of October 4, 2009, San Joaquin Bancorp board of directors adopted the Amended and Restated Bylaws as follows: Article II. Section 2.5. Manner of Giving Notice. The first sentence of this provision was amended to provide that, in addition to the methods previously listed, notice of any meeting of shareholders may also be provided in any other manner permitted by law; Article II. Section 2.14. Notice of Action Taken by Written Consent without a Meeting. This second sentence of this provision was conformed to be consistent with section 2.5; Article III. Section 3.2. Number and Qualification of Directors. This exact number of directors of the Registrant was changed to eight (8). No other portions of this provision were changed from the prior provision; Article III. Section 3.8. Annual Meetings. This provision was revised to include a clarification providing that the annual organizational meeting of the board of directors may include, in the board’s discretion, the designation of a Chairman of the Board and/or a Vice Chair; Article III. Section 3.10. Special Meetings. This provision was changed to provide that in addition to the Chairman of the Board, the President or the Secretary, special meetings of the board of directors may be called by the Vice Chair; Article IV. Section 4.1. Committees of Directors. The first sentence of this provision was changed to provide that the Vice Chair may, in the absence of the Chairman of the Board, recommend to the Board of Directors one or more committees or designate one or more alternate members of any committee; Article IV. Section 4.2. Meetings and Action of Committees. This provision was changed to clarify the procedures and rules for committee meetings; Article V. Section 5.1. Officers. The first sentence of this provision was changed to provide that the officers of the company shall be a President, a Secretary and a Chief Financial Officer, in addition to other officers appointed in accordance with the Restated Bylaws. As a result of this change, the Chairman of the Board is no longer listed as an officer; Article V. Section 5.3. Subordinate Officers. The first sentence of this provision was changed to clarify that the Vice Chair of the Board may be empowered by the board of directors to appoint officers; Article V. Section 5.6. Chairman of the Board. New sentences were added to the existing provision to provide that the Chairman of the Board shall be designated at the annual organizational meeting of the board of directors and shall serve at the pleasure of the board and that the board of directors may at any time designate a new Chairman in the event any incumbent resigns, retires, dies, becomes disabled or is removed; Article V. Section 5.7. Vice Chairman and/or Chief Executive Officer. This provision was changed to clarify the powers of the Vice Chair in the absence of the Chairman of the Board and the powers of the Chief Executive Officer (who is not also the President), if any, in the absence of the Chairman and the Vice Chair; Article V. Section 5.8. President. The second sentence was changed to clarify the authority of the President to preside at meetings of the board of directors and shareholders in the absence of the Chairman of the Board or the Vice Chair.

San Joaquin Bancorp announced new strategic initiatives designed to further enhance the company's senior leadership team and governance policies, including a restructuring of its Board of Directors and the Board of Directors of its banking subsidiary, San Joaquin Bank, and the establishment of a new Corporate Governance and Nominating Committee. As part of these new strategic initiatives, the Board of San Joaquin Bancorp: Plans to elevate Bancorp's current Vice Chair, Rogers Brandon, to become Chairman of the Board of Bancorp and the Bank; Established a new Corporate Governance and Nominating Committee comprised of Louis Barbich, who is presently the Chair of Bancorp's Audit Committee, Director Melvin Atkinson and Vice Chair Rogers Brandon, as Committee Chairman; Named Stephen Annis, Bancorp's former Chief Financial Officer, as the Executive Vice President and Chief Operating Officer of Bancorp and the Bank; and Promoted Mark Taylor, the Bank's Vice President--Finance, to Senior Vice President and Chief Financial Officer of Bancorp and the Bank. New Corporate Governance and Nominating Committee Formed to Further Enhance Governance Policies and Augment Boards of Bancorp and the Bank. The Board's newly established Corporate Governance and Nominating Committee will play a critical role in overseeing matters of corporate governance for the Bancorp Board, including formulating and recommending governance principles and policies. The new committee will be charged with enhancing the quality of nominees to the board and ensuring the integrity of the nominating process, and will immediately begin identifying and evaluating new directors to augment the existing Boards of Bank and Bancorp. The Committee will be chaired by the incoming Chairman of the Board, Rogers Brandon, who is the President of American General Media in Bakersfield and a member of Bancorp's Compensation Committee. Other committee members will include: Melvin Atkinson, 54, who has been a member of the Bank's board since 2005 and of Bancorp's board since 2006. He is currently a member of Bancorp's Audit Committee and the President and Chairman of the Board of M.D. Atkinson Company Inc., a professional property management service company and Louis Barbich, 65, Chair of Bancorp's Audit Committee and Chairman of Barbich, Hooper, King, Dill, Hoffman Accountancy Corporation, where he has practiced since 1982. Mr. Barbich, a certified public accountant, has served as a director of the Bank since 1990 and a director of Bancorp since its formation in 2006.