SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(b)
(Amendment No. _______)(1)
FIRST COMMUNITY BANCORP
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(Name of Issuer)
Common Stock, No Par Value
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(Title of Class of Securities)
31983B101
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(CUSIP Number)
October 8, 2001
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
_________________
(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
Page 1 of 7 Pages
CUSIP NO. 31983B101 Page 2 of 7 Pages
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Value Partners, Ltd. 75-2291866
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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+ 5. SOLE VOTING POWER
+
+ N/A
NUMBER OF + --------------------------------------------------------------
SHARES + 6. SHARED VOTING POWER
BENEFICIALLY +
OWNED BY EACH + 402,910
REPORTING + --------------------------------------------------------------
PERSON WITH + 7. SOLE DISPOSITIVE POWER
+
+ N/A
+ --------------------------------------------------------------
+ 8. SHARED DISPOSITIVE POWER
+
+ 402,910
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
402,910
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.6%
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12. TYPE OF REPORTING PERSON
PN
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CUSIP NO. 31983B101 Page 3 of 7 Pages
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Ewing & Partners 75-2741747
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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+ 5. SOLE VOTING POWER
+
+ N/A
NUMBER OF + --------------------------------------------------------------
SHARES + 6. SHARED VOTING POWER
BENEFICIALLY +
OWNED BY EACH + 402,910
REPORTING + --------------------------------------------------------------
PERSON WITH + 7. SOLE DISPOSITIVE POWER
+
+ N/A
+ --------------------------------------------------------------
+ 8. SHARED DISPOSITIVE POWER
+
+ 402,910
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
402,910
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.6%
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12. TYPE OF REPORTING PERSON
PN
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CUSIP NO. 31983B101 Page 4 of 7 Pages
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Timothy G. Ewing
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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+ 5. SOLE VOTING POWER
+
+ N/A
NUMBER OF + --------------------------------------------------------------
SHARES + 6. SHARED VOTING POWER
BENEFICIALLY +
OWNED BY EACH + 402,910
REPORTING + --------------------------------------------------------------
PERSON WITH + 7. SOLE DISPOSITIVE POWER
+
+ N/A
+ --------------------------------------------------------------
+ 8. SHARED DISPOSITIVE POWER
+
+ 402,910
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
402,910
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.6%
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12. TYPE OF REPORTING PERSON
IN
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CUSIP NO. 31983B101 Page 5 of 7 Pages
Item 1(a) Name of Issuer:
First Community Bancorp ("Issuer")
Item 1(b) Address of Issuer's Principal Executive Offices:
6110 El Tordo
Rancho Santa Fe, California 92067
Item 2(a) Name of Person Filing:
This statement is filed on behalf of Value Partners Ltd., a Texas
limited partnership ("VP"), Ewing Partners, a Texas general
partnership, and the general partner of VP ("EP") and Timothy G.
Ewing, the managing partner of EP.
Item 2(b) Address of Principal Business Office or, if None, Residence:
Value Partners
c/o Ewing & Partners
4514 Cole Avenue
Suite 808
Dallas, Texas 75205
Item 2(c) Citizenship:
VP is a Texas limited partnership. EP is a Texas general partnership
and Mr. Ewing is a citizen of the United States of America.
Item 2(d) Title of Class of Securities:
Common Stock, no par value ("Common Stock").
Item 2(e) CUSIP Number:
31983B101
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is:
(e) Not Applicable. [X]
CUSIP NO. 31983B101 Page 6 of 7 Pages
Item 4. Ownership.
(a) VP has the sole power to vote and dispose of the Common Stock
beneficially owned by it. VP does not share the power to vote
or to direct the vote of, or the power to dispose or to direct
the disposition of, the Common Stock owned by it. EP and Mr.
Ewing do not directly own any shares of Common Stock of the
Issuer. However, EP, as a general partner of VP, may be deemed,
for purposes of determining beneficial ownership pursuant to
Rule 13d-3, to have the shared power with VP to vote or direct
the vote of, and the shared power with VP to dispose or to direct
the disposition of, the Common Stock owned by VP. Mr. Ewing,
as a general partner and the Managing Partner of EP, may be
deemed, for purposes of determining beneficial ownership pursuant
to Rule 13d-3, to have shared power with VP to vote or to direct
the vote of, and the shared power to dispose or to direct the
disposition of, the Common stock owned by VP.
(b) The 402,910 shares held by VP represents approximately 7.6% of
the class.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 402,910
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the disposition of
402,910
(iv) Shared power to dispose or to direct the disposition of
0
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
CUSIP NO. 31983B101 Page 7 of 7 Pages
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held
in the ordinary course of business and were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any
transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
VALUE PARTNERS, LTD.
By: Ewing & Partners as General Partner
February 14, 2002 By: /s/ Timothy G. Ewing
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Timothy G. Ewing
General Partner
EWING & PARTNERS
February 14, 2002 By: /s/ Timothy G. Ewing
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Timothy G. Ewing
Managing Partner
February 14, 2002 By: /s/ Timothy G. Ewing
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Timothy G. Ewing
General Partner