Section16Direct Section 16, Form 4
Form 4

FORM 4

[ ]Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Files pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person

James Lokey
1026 East Grand Avenue
Arroyo Grande, CA 93420 US

2. Issuer Name and Ticker or Trading Symbol

Mid-State Bancshares (MDST)

6. Relationship of Reporting Person(s) to Issuer

Director
Officer

________________________
President/Chief Executive Officer

 3. IRS or Social Security Number of Reporting Person (voluntary)

4. Statement for Month/Day/Year

5/1/2003

7. Individual or Joint/Group Filing

 Form filed by One Reporting Person

5. If Amendment, Date of Original (Month/Day/Yr)

Original Date

N/A
 

Table I-Non-Derivative Securities Acquired,Disposed of, or Beneficially Owned

1. Title of Security2. Transaction Date
(Month/Day/Year)
2A. Deemed
Execution Date
if any
(Month/Day/Year)		 3. Transaction
Code		4. Securities Acquired (A)
or Disposed of (D)		5. Amount of Securities
Beneficially Owned
Following Reported
Transaction(s)		6. Ownership Form:
Direct (D) or
Indirect (I)		7. Nature of Indirect
Beneficial
Ownership
Code
V
Amount
(A) or (D)
Price
Common Stock
05/01/2003
P
25.66314 Shrs
A
$18.528910
15,799.543850 Shrs
D/401(k) Plan
Common Stock
05/01/2003
P
51.32628 Shrs
A
$18.529105
15,850.870130 Shrs
D/401(k) Plan
Table II-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Derivative Security2. Conversion
or Exercise
Price of
Derivative
Security 		3. Transaction
Date
(Month/Day/Year)
3A. Deemed
Execution Date
if any
(Month/Day/Year)		4. Transaction Code5. Number of Derivative
Securities Acquired
(A) or Disposed of (D) 		6. Date Exercisable
and Ex-piration Date
(Month/Day/Year)		7. Title and Amount of
Underlying Securities		8. Price of
Derivative
Security		9. Number of
Derivative
Securities
Beneficially
Owned
Following
Reported
Transaction(s)		10. Ownership
Form of
Derivative
Security:
Direct(D)or
Indirect (I) 		11. Nature
of Indirect
Beneficial
Ownership
Code
V
(A)
(D)
Date
Exercisable		Expiration
Date		TitleAmount or
Number of
Shares
Explanation of Responses

**Intentional misstatements or omissions of facts constiute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15U.S.C. 78ff(a).

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

 

Signature of Reporting Person:
Date: 5/2/2003