FORM 10-Q
                                     
                    SECURITIES AND EXCHANGE COMMISSION
                                     
                           WASHINGTON, DC. 20549
                                     

(Mark One)
( X )     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF SECURITIES
          EXCHANGE ACT OF 1934

For the quarterly period ended   September 30, 1995
                                    OR
(   )     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
          SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________________ to _____________________.

Commission File Number   0-13528
                                   Pacific Capital Bancorp
                    (Exact name of registrant as specified in its charter)

                       California                             77-0003875
               (State or other jurisdiction of              (I.R.S.
          Employer
                incorporation or organization)           Identification
          Number)
                       1001 S. Main Street, Salinas, California   93901
                         (Address of principal executive offices)
                                        (Zip Code)

                                     (408)  757-4900
                    (Registrant's telephone number, including area code)

                                          N/A
                    (Former name, former address and former fiscal year, if
                                   changed since last report)
     Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.

Yes   X        No
                   APPLICABLE ONLY TO CORPORATE ISSUERS:

     Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.

                                            Outstanding at
     Class                                 October 28, 1995
     Common stock, no par value            2,480,470 Shares

This report contains a total of 19 pages.
<PAGE>

                      PART I - FINANCIAL INFORMATION
                                     
ITEM 1                                                  PAGE

PACIFIC CAPITAL BANCORP AND
SUBSIDIARIES FINANCIAL STATEMENTS

     CONSOLIDATED BALANCE SHEETS                           3
     
     CONSOLIDATED STATEMENTS OF INCOME                   4-5
     
     CONSOLIDATED STATEMENTS OF CASH FLOWS                 6
     
     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS            7
     
     
ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS                   8 - 15



                        PART II - OTHER INFORMATION
                                     
ITEM 6

EXHIBITS AND REPORTS ON FORM 8-K                          16

SIGNATURES                                                17
<PAGE>
                      PART I - FINANCIAL INFORMATION
                 PACIFIC CAPITAL BANCORP AND SUBSIDIARIES
                        CONSOLIDATED BALANCE SHEETS
                                (UNAUDITED)
                   (IN THOUSANDS, EXCEPT SHARE AMOUNTS)
                                          September 30,  December 31,
Assets                                         1995          1994
                                                                     
Cash and due from banks                          $23,683      $26,301
Federal funds sold and other short term           
investments                                       29,353       15,961  
      Total cash and equivalents                  53,036       42,262
Investment securities:                                               
   Available-for-sale securities, at fair value   46,435       22,258
   Held-to-maturity securities, at                                   
amortized cost (fair value of $46,769 and         46,954       64,131
$62,367, respectively)
                                                                     
Loans available for sale at cost, which            3,621        2,301
approximates market
Loans:                                                               
   Commercial                                     40,121       43,783
   Consumer                                       11,377       11,328
   Real estate - mortgage                        121,991      116,630
   Real estate - construction                     18,463       22,539
   Bankers' acceptances & commercial                 399          709
paper
   Other                                           5,593        6,090
   Less deferred loan fees                         (326)        (299)
      Total loans                                197,618      200,780
   Less allowance for possible loan losses       (2,245)      (2,438)
      Net loans                                  195,373      198,342
Premises and equipment, net                        7,306        7,238
Accrued interest receivable and other,             7,750        7,347
net
Total assets                                    $360,475     $343,879
                                                ========     ========        
Liabilities and shareholders' equity                                 
Deposits:                                                            
   Demand, non-interest bearing                  $68,678      $70,638
   Demand, interest bearing                       55,425       53,410
   Savings and money market                      107,392      122,816
   Time certificates                              84,352       56,365
      Total deposits                             315,847      303,229
                                                                     
Accrued interest payable and other                 2,749        1,900
liabilities
Total liabilities                                318,596      305,129
                                                                     
Shareholders' equity:                                                
Preferred stock; 20,000,000 shares                     -            -
authorized and unissued
Common stock, no par value; 20,000,000                               
shares authorized;
   2,480,470 and 2,476,517 shares issued                             
and outstanding at
   September 30, 1995 and at December             28,102       28,056
31, 1994, respectively
Retained earnings                                 13,843       10,850
Net unrealized  losses on available-for-            (66)        (156)
sale securities
Total shareholders' equity                        41,879       38,750
Total liabilities and shareholders'equity       $360,475     $343,879
                                                ========     ========
See accompanying notes to consolidated financial statements
<PAGE>
                 PACIFIC CAPITAL BANCORP AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF INCOME
                                (UNAUDITED)
            (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
                                     
                                         Nine months    Nine months
                                            ended          ended
                                        September 30,  September 30,
                                             1995           1994
Interest income:                                                     
   Interest and fees on loans                  $15,353        $12,615
   Interest on investment securities             2,870          2,962
   Interest on federal funds sold                  832            505
     Total interest income                      19,055         16,082
Interest expense:                                                    
   Demand, interest bearing                        422            405
   Savings                                       2,082          2,081
   Time certificates                             2,513          1,245
   Other                                             0              2
     Total interest expense                      5,017          3,733
     Net interest income                        14,038         12,349
 Provision for possible loan losses                  0              0
Net interest income after provision             14,038         12,349
for possible loan losses
                                                                     
Other income:                                                        
   Service charges                               1,074          1,048
   Gain on sale of loans                            15            112
   Mortgage banking fees                            95            129
   Net loss on securities transactions            (18)           (17)
   Other                                           264            322
     Total other income                          1,430          1,594
                                                                     
Other expenses:                                                      
   Salaries and benefits                         4,852          4,491
   Occupancy                                     1,024            945
   Equipment                                       772            781
   Advertising and promotion                       326            343
   Stationary and supplies                         229            200
   Legal and professional fees                     409            495
   Regulatory assessments                          373            562
   Other operating                               1,069          1,120
     Total other expenses                        9,054          8,937
                                                                     
Earnings before income taxes                     6,414          5,006
                                                                     
Income taxes                                     2,491          1,889
                                                                     
Net income                                      $3,923         $3,117
                                                ======         ======        
Net income per share                             $1.51          $1.25
                                                ======         ======      
                                                                     
Weighted average shares outstanding          2,592,459      2,497,751
See accompanying notes to consolidated financial statements
<PAGE>                                     
                                     
                 PACIFIC CAPITAL BANCORP AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF INCOME
                                (UNAUDITED)
            (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
                                     
                                         Three months   Three months
                                            ended           ended
                                        September 30,   September 30,
                                             1995           1994
Interest income:                                                     
   Interest and fees on loans                  $ 5,108         $4,524
   Interest on investment securities             1,125          1,025
   Interest on federal funds sold                  373            248
     Total interest income                       6,606          5,797
Interest expense:                                                    
   Demand, interest bearing                        145            139
   Savings                                         706            730
   Time certificates                             1,074            488
   Other                                             0               
     Total interest expense                      1,925          1,357
     Net interest income                         4,681          4,440
 Provision for possible loan losses                  0              0
Net interest income after provision              4,681          4,440
for possible loan losses
                                                                     
Other income:                                                        
   Service charges                                 351            353
   Gain (loss) on sale of loans                    (1)            110
   Mortgage banking fees                            40             37
   Net loss on securities transactions             (4)           (34)
   Other                                            92            136
     Total other income                            478            602
                                                                     
Other expenses:                                                      
   Salaries and benefits                         1,645          1,588
   Occupancy                                       369            317
   Equipment                                       281            250
   Advertising and promotion                       134            136
   Stationary and supplies                          75             70
   Legal and professional fees                     131            183
   Regulatory assessments                          (1)            175
   Other operating                                 375            403
     Total other expenses                        3,009          3,122
                                                                     
Earnings before income taxes                     2,150          1,920
                                                                     
Income taxes                                       839            741
                                                                     
Net income                                      $1,311         $1,179
                                                ======         ======         
Net income per share                             $0.51          $0.47
                                                ======         ======        
                                                                     
Weighted average shares outstanding          2,590,916      2,498,531
See accompanying notes to consolidated financial statements
<PAGE>                                     
                                     
                 PACIFIC CAPITAL BANCORP AND SUBSIDIARIES
                   CONSOLIDATED STATEMENT OF CASH FLOWS
    For the Nine Months Ended September 30, 1995 and September 30, 1994
                                (UNAUDITED)
                              (IN THOUSANDS)
                                     
                                         September 30,  September 30,
                                                  1995           1994
                                                                     
Cash flows from operating activities:                                
Net income                                      $3,923         $3,117
Adjustments to reconcile net income to                               
net cash provided by
     operating activities:                                           
   Depreciation and amortization                   677          1,169
   Provision for possible loan losses                0              0
   Gain on sale of investment securities, net       18             17
   Net originations of loans held for sale     (1,320)          1,752
   Gain on sale of loans                          (16)          (112)
   Deferral of loan origination fees              (11)           (40)
   Change in accrued interest                    
receivable and other assets                      (313)          (545) 
   Change in accrued interest payable             
and other liabilities                              865            246 
Net cash provided by  operating activities       3,823          5,604
                                                                     
Investing activities:                                                
   Net change in loans                           2,980       (15,056)
   Maturities of investment securities          14,736         12,740
   Purchases of investment securities         (46,620)       (23,549)
   Proceeds from sale of available-for-        
sale securities                                 24,839         13,494 
   Capital expenditures, net                     (718)          (426)
Net cash provided used in investing activities (4,783)       (12,797)
                                                                      
Financing activities:                                                
   Net increase (decrease) in deposits          12,618         27,633
   Cash paid for retirement of stock             (111)          (718)
   Proceeds from exercise of options               157            801
   Cash paid for dividends                       (930)          (710)
Net cash provided by financing activities       11,734         27,006
                                                                     
Net increase in cash and equivalents            10,774         19,813
Cash and equivalents beginning of period        42,262         25,297
Cash and equivalents at end of period          $53,036        $45,110
                                               =======        =======        
Supplemental disclosures of cash flow                                
information:
    Cash paid during the period                                      
     Interest                                    5,707          3,774
     Income taxes                                2,525          1,348
     Release of guarantee of ESOP note               0            212
                                                                     
See accompanying notes to consolidated financial statements
                                     
<PAGE>                                     
                 PACIFIC CAPITAL BANCORP AND SUBSIDIARIES
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                (UNAUDITED)

Note 1 -  Basis of Presentation

In the opinion   of  the  Company,  the  unaudited  consolidated  financial
          statements, prepared on the accrual basis of accounting,  contain
          all adjustments (consisting of only normal recurring adjustments)
          which  are necessary to present fairly the financial position  of
          the  Company and subsidiaries at September 30, 1995 and  December
          31,  1994,  the  results of its operations and the statements  of
          cash flows for the periods ended September 30, 1995 and 1994.

Certain information   and  footnote  disclosures  normally   presented   in
          financial   statements  prepared  in  accordance  with  generally
          accepted accounting principles have been omitted.  The results of
          operations  for  the  period ended September  30,  1995  are  not
          necessarily indicative of the operating results for the full year
          ending December 31, 1995.

In May 1993, the Financial Accounting Standards Board ("FASB") issued SFAS
No. 114, "Accounting by Creditors for Impairment of a Loan." This statement 
addresses the accounting treatment of certain impaired loans. In October 1994
the FASB issued SFAS No. 118, "Accounting by Creditors for Impairment of a
Loan - Income Recognition and Disclosures." SFAS No. 118 amends SFAS No. 114
to allow a creditor to use existing methods for recognizing interest income
on an impaired loan. Both of these statements apply to financial statements
for fiscal years beginning after



Note 2 -  Consolidation
          
          The consolidated financial statements include the accounts of the
          Company and its wholly-owned subsidiaries, First National Bank of
          Central  California, (the "Bank"), and Pacific  Capital  Services
          Corporation,  an inactive subsidiary.  All material  intercompany
          accounts and transactions have been eliminated in consolidation.

Note 3 -  Loans to Directors

In the ordinary course of business, the Company has made loans to directors
          of   the  Company  which  at  September  30,  1995  amounted   to
          approximately $4,100,000.
<PAGE>
Note 4 -  Commitments
          
          The  Company  had  outstanding  standby  letters  of  credit   of
          approximately $1,342,000 at September 30, 1995.

Note 5 -  Net Income Per Share and Dividends

Net income  per   share  is computed using the weighted average  number  of
          shares  of  common and common equivalent shares  outstanding  (as
          adjusted retroactively to reflect the 5% stock dividend  paid  on
          December 1, 1994).  On January 24, 1995, April 25, 1995, and July
          25,  1995 the Company declared a $ 0.125 per share quarterly cash
          dividend  to shareholders of record on March 15, 1995,  June  15,
          1995,  and  September 15, 1995 payable March 30, 1995,  June  30,
          1995, and September 30, 1995.

Note 6 -  Taxes

As of September  30,  1995,  the  Company  has  a  deferred  tax  asset  of
          approximately $1,843,000.  The asset results primarily  from  the
          provisions for possible loan losses and depreciation of  premises
          and  equipment, which are recognized in the financial  statements
          but  are  not  yet deductible for income tax reporting  purposes.
          Based on the Company's earnings history, management believes  the
          temporary  differences which created the deferred tax asset  will
          reverse during future periods.
                                     
                                     
                 PACIFIC CAPITAL BANCORP AND SUBSIDIARIES
                   MANAGEMENT'S DISCUSSION AND ANALYSIS
                                    OF
               FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Overview of Changes in the Financial Statements

     Net income for the nine months ended September 30, 1995 was $3,923,000
or  $1.51  per share compared to $3,117,000 or $1.25 per share  during  the
same  period in 1994. This 26% increase in net income is due mainly  to  an
increase  in  the Company's net interest margin which has resulted  from  a
rising  interest  rate environment in which the Company's interest  earning
assets  have  repriced faster than deposits. Net interest income  increased
$1,689,000  or  13.7%  in the first nine months of  1995  compared  to  the
comparable period in 1994.

      Outstanding  loans  were  $197,618,000 compared  to  $200,780,000  at
December  31,  1994,  a  $3,162,000 or  1.6%  decrease.   The  decrease  in
outstanding  loans  from December 31, 1994 to September 30,  1995  resulted
primarily  from  decreases in real estate construction and commercial  non-
mortgage  loans  partially offset by an increase in  real  estate  mortgage
loans of $5,361,000.

      Federal  Funds Sold and Investment Securities at September  30,  1995
were $122,742,000, a $20,392,000 or  19.9% increase from December 31, 1994.
This was primarily due to the increase in total deposits which resulted  in
a increase in cash invested in Federal Funds and investment securities.
<PAGE>
      The  Company's total deposits at September 30, 1995 were $315,847,000
compared  to  $303,229,000  at December 31, 1994,  a  $12,618,000  or  4.2%
increase.   Non-interest  bearing  demand  deposits  decreased  $1,960,000,
interest bearing demand deposits increased $2,015,000 and savings and money
market  deposit accounts decreased $15,424,000 in the first nine months  of
1995. Certificates of deposit increased by $27,987,000 or 49.7% during  the
first  nine  months of 1995.  Management believes that these  are  deposits
which  certain retail customers have transferred from savings  accounts  to
certificates  due  to  the increased interest rate on  certificates  versus
savings accounts. The loan to deposit ratio at September 30, 1995 was 62.7%
compared to 66.2% at December 31, 1994.  The Company's total assets  as  of
September 30, 1995 increased 4.8% compared to year end 1994.


Loans

      Outstanding  total loans averaged $201,345,000 for the  period  ended
September  30, 1995 compared to $187,656,000 for the period ended September
30,  1994, an increase of $13,689,000, or 7.3%. This increase in  loans  is
due to increased loan demand from qualified borrowers and is reflective  of
the  economic  recovery in most of the primary markets  which  the  Company
serves.  The  Company lends primarily to small and medium sized  businesses
within  its  markets,  which  are comprised  principally  of  the  Salinas,
Watsonville,  Monterey and Carmel areas.  A majority of the Company's  loan
portfolio   consists  of  loans  secured  by  commercial,  industrial   and
residential real estate.


Quality of Loans

      The  Company  follows  the  policy of discontinuing  the  accrual  of
interest  income  and reversing any accrued and unpaid  interest  when  the
payment  of  principal or interest is 90 days past due unless the  loan  is
both well-secured and in the process of collection.

      The  composition  of non-performing loans as of September  30,  1995,
December  31,  1994, and September 30, 1994 is summarized in the  following
table.

                            Nonperforming Loans
                          (Dollars in Thousands)
                                     
                       September  30,   December 31,   September  30,
                            1995            1994            1994
Accruing loans
past due 90 days
or more
   Commercial             $    0          $    0          $    0
   Consumer                    0               7               0
   Real Estate               423               0               0
Total                        423          $    7          $    0

Nonaccrual loans
   Commercial                229             993           1,096
   Consumer                  151             194             152
   Real Estate               834             836             953
Total                     $1,214          $2,023          $2,201

Total Nonperforming
Loans                     $1,637          $2,030          $2,201

Nonperforming Loans
To Total Loans              0.83%           1.01%         1.13%

Allowance For Possible
Loan Losses To Total
Non Performing Loans      137.14%         120.10%         110.22%
<PAGE>
      The  Company does not expect to sustain losses from any of  the  Non-
Performing  Loans  in  excess  of that specifically  provided  for  in  the
allowance for possible loan losses.

      In  addition to the above, the Company holds four Other  Real  Estate
Owned  (OREO)  properties, which aggregate $889,000.   In  all  cases,  the
amount recorded represented the lesser of the loan balance or current  fair
value  obtained  from a current appraisal less anticipated  selling  costs;
therefore, any identified loss has already been recognized.

      Inherent in the lending function is the fact that loan losses will be
experienced  and  that the risk of loss will vary with  the  type  of  loan
extended  and  the  creditworthiness  of  the  borrower.   To  reflect  the
estimated  risks of loss associated with its loan portfolio, additions  are
made  to  the Company's allowance for possible loan losses.  As an integral
part of this process, the allowance for possible loan losses is subject  to
review  and  possible adjustment as a result of management's assessment  of
risk  or  regulatory examinations conducted by governmental agencies.   The
Company's  entire  allowance is a valuation allocation  created  by  direct
charges against operations through the provision for possible loan losses.

      The provision for possible loan losses charged against operations  is
based  upon  the actual net loan losses incurred plus an amount  for  other
factors  which, in management's judgment, deserve recognition in estimating
possible  loan losses.  The Company evaluates the adequacy of its allowance
for possible loan losses on a quarterly basis.  For the last several years,
the  Company has also contracted with an independent loan review consulting
firm  to  evaluate overall credit quality and the adequacy of the allowance
for possible loan losses.  Both internal and external evaluations take into
account   the  following:   specific  loan  conditions  as  determined   by
management; the historical relationship between charge-offs and  the  level
of the allowance; the estimated future loss in all significant loans; known
deterioration  in  concentrations of credit, certain classes  of  loans  or
pledged collateral; historical loss experience based on volume and types of
loans;  the  results of any independent review or evaluation  of  the  loan
portfolio quality conducted by or at the direction of Company management or
by  bank  regulatory  agencies; trends in portfolio  volume,  maturity  and
composition;   off-balance  sheet  credit  risk;  volume  and   trends   in
delinquencies  and  nonaccruals; lending policies and procedures  including
those  for charge-off, collection and recovery; national and local economic
conditions  and  their  affects  on  specific  local  industries;  and  the
experience,  ability  and  depth of lending management  and  staff.   These
factors are essentially judgmental and may not be reduced to a mathematical
formula.
<PAGE>
      The  Company closely monitors the local markets in which it  conducts
its lending activities.  The overall increase in loan demand from qualified
borrowers  during  the  past year is indicative of a  stabilizing  economic
climate.

      The  table  set  forth below summarizes the actual  loan  losses  and
provision  for  possible losses for the periods ended September  30,  1995,
December 31, 1994, and September 30, 1994.

                       Charge-Off/Recovery Activity
                          (Dollars in Thousands)
                                     
                        Nine months         Year        Nine months
                           Ended           Ended           Ended
                     September 30, 1995December 31,1994September 30, 1994

Total Loans Outstanding  $197,618        $200,780        $195,607

Average Net Loans        $201,345        $190,721        $187,656

Allowance Balance
Beginning Of Period        2,438           2,507           2,507

  Charge-Offs By Loan Category
    Commercial              114             175             105
    Consumer                 49             108              72
    Real Estate             130              21              19
    Other                     0               0               0
    Total                $  293          $  304         $   196
  
  Recoveries By Loan Category
    Commercial               28              85              78
    Consumer                 29              30              25
    Real Estate              43              20              12
    Other                     0               0               0
    Total               $   100          $  135           $ 115

Net Charge-Offs           $  193          $  169          $   81

Provision Charged
To Expense                     0             100               0

Allowance Balance
End Of Period            $ 2,245         $ 2,438         $ 2,426

Allowance For Possible
Loan Losses
To Total Loans              1.14%           1.21%           1.24%

Annualized Net Charge-
Offs To Average Loans       0.13%           0.09%           0.06%
<PAGE>
      The  Company did not provide an additional provision to the allowance
for  possible loan losses for the nine months ended September 30, 1995,  or
September  30,  1994,  primarily  due to the  Company's  recognition  of  a
stabilization  of  the  local  economy,  resulting  in  a  lower  level  of
classified loans and the reduced potential of future charge-offs.

      The  provision for possible loan losses charged against  earnings  is
based  upon an analysis of the actual migration of loans to losses plus  an
amount   for  other  factors  which,  in  management's  judgment,   deserve
recognition in estimating possible loan losses. While these factors  cannot
be  reduced  to  a mathematical formula, it is management's view  that  the
allowance  for possible loan losses of $2,245,000 or 1.14% of  total  loans
was adequate as of September 30, 1995.

Results of Operations
                   Nine months Ended September 30, 1995
                               Compared with
                   Nine months Ended September 30, 1994

     Net income of  $3,923,000 for the nine months ended September 30, 1995
increased  by $806,000 or 25.9% as compared to the same 1994  period.   The
increase in net income for the period was due primarily to an  increase  in
net  interest  income  of  $1,689,000 which was  the  result  of  increased
interest  rates  on loans without an equivalent increase in interest  rates
paid on deposits. This increase in net interest income was partially offset
by  a  decrease in other income of $164,000 and a slight increase in  other
expenses of  $117,000.
     
     Included in net income for the nine months ended September 30, 1995 is
a  $173,000  pre-tax refund from the Federal Deposit Insurance  Corporation
("FDIC").  This refund represents the overpayments made for FDIC  insurance
for  June  of  1995 and the third quarter of 1995 after the Bank  Insurance
Fund  ("BIF") was fully recapitalized. Upon full capitalization, assessment
rates  dropped  from a range of $.23 to $.31 per $100 in  insured  deposits
down  to a range of $.04 to $.31 per $100 in insured deposits. This  refund
represents  the rate reduction for the Bank retroactive to the end  of  May
1995. Net income for the nine months ended September 30, 1995 excluding the
BIF  refund was $3,817,000, an increase of  $700,000 or 18.3% over the same
period in 1994.
     
     The  average balance of interest earning assets during the nine months
ended  September 30, 1995 was $298,156,000, a $10,766,000 or 3.7%  increase
over  the  comparable 1994 period.  The Company's average yield on  earning
assets  for  the  nine months ended September 30, 1995  increased  to  8.5%
compared  to  7.5% during the comparable period in 1994.  The  increase  in
average  yields  is due to higher interest rates on adjustable  rate  loans
within  the loan portfolio due to the several rate increases in  the  Prime
Rate  over  the  latter  part  of  1994. Total  interest  income  increased
$2,973,000  or 18.5% for the nine months ended September 30, 1995  compared
to  the same 1994 period due to an increase in average assets coupled  with
increased average yields.
<PAGE>     
     Average  deposits for the Company for the nine months ended  September
30,  1995 were $289,997,000, a $6,780,000 or 2.4% increase compared to  the
period  ended September 30, 1994.  The Company's average cost of funds  for
the  nine  months  ended September 30, 1995 was 3.0% which  yielded  a  net
interest margin of 6.3%.  This compares to an average cost of funds of 2.3%
and  a   net  interest  margin  of 5.8% for  the  comparable  1994  period.
Interest expense of $5,018,000 for the nine months ended September 30, 1995
was $1,284,000 or 34.4% over  the comparable 1994 period due to an increase
in  average interest bearing deposits of $3,118,000 and an increase in  the
average  rate paid on deposits of 0.7%.  Net interest income for  the  nine
months  ended September 30, 1995 increased $1,689,000 or 13.7% and resulted
from the increase of $2,973,000 in total interest income and an increase of
$1,284,000  in total interest expense.
     
     The  Company  did not make any additional provisions to the  allowance
for possible loan loss for the nine months ended  September 30, 1995 or for
the  same period in 1994.  The analysis of the loan portfolio completed  by
the  Company  indicates  that  the current allowance  for  loan  losses  is
adequate based on the Company's calculated provision requirements.
     
     Total  loans  charged-off net of recoveries for the nine months  ended
September  30,  1995  amounted  to $193,000  compared  to  $81,000  net  of
recoveries for the same period in 1994.  Annualized net loan charge-offs as
a  percentage of average loans for the nine months ended September 30, 1995
was  0.13% compared to 0.06% for the nine months ended September  30,  1994
and .09% for the year ended December 31, 1994.
     
     Total  other income was $1,430,000 for the nine months ended September
30, 1995, a $164,000 or 10.3% decrease compared to the same period of 1994.
Gains  on  sales  of  loans decreased $97,000 from the  nine  months  ended
September  30,  1994 due to relatively low levels of loan  sales  in  1995.
Income  from  mortgage banking fees decreased $34,000 for the  nine  months
ended September 30, 1995 due to a slowdown in mortgage refinancing activity
from 1994 levels.  Other variances include service charges  which increased
by  $26,000  from  1994 and other income which fell below  1994  levels  by
$58,000.
     
     Salaries and benefits expense for the nine months ended September  30,
1995  was $4,852,000, a $361,000 or 8.0% increase over the comparable  1994
period.  This variance resulted primarily from normal salary increases,  an
increase  in  health insurance premiums, and an increase in  the  Company's
contributions  to  the  Bonus  and Employee Stock  Ownership  Program.  The
Company  employed 158 full time equivalent employees at September 30,  1995
compared to 155 full time equivalent employees at December 31, 1994 and 156
full time equivalent employees at September 30, 1994.
     
     Total  other expenses, excluding salaries and benefits, for  the  nine
months  ended  September  30,  1995, was $4,202,000,  a  $244,000  or  5,5%
decrease from the comparable 1994 period.  This decrease was primarily  the
result  of the refund received by the Company in September 1995 of $173,000
from  the Bank Insurance Fund ("BIF") due to the recapitalization  of  BIF.
Other variances include occupancy which increased $79,000 due primarily  to
the  expense of temporary branch facilities due to expansion of the Salinas
main office, and legal and professional fees which decreased $86,000 due to
decreased usage of legal counsel in 1995.
     
     Applicable  income  taxes  of $2,491,000 for  the  nine  months  ended
September  30,  1995 were $602,000, or 31.9% more than the comparable  1994
period.   The  Company's  effective tax rate  for  the  nine  months  ended
September 30, 1995 was 38.8% compared to 37.7% for the same period in 1994.
<PAGE>
Results of Operations
                   Three Months Ended September 30, 1995
                               Compared with
                   Three Months Ended September 30, 1994

     Net  income  of   $1,311,000 for the three months ended September  30,
1995  increased by $132,000 or 11.2% as compared to the same  1994  period.
The increase in net income for the period was due primarily to an  increase
in  net  interest  income  of $241,000 which was the  result  of  increased
interest  rates  on loans without an equivalent increase in interest  rates
paid  on  deposits.  Other  income decreased for  the  three  months  ended
September 30, 1995 by $124,000 compared to the third quarter of 1994  while
other expenses decreased by  $113,000 or 3.6%.
     
     Included  in net income for the three months ended September 30,  1995
is a $173,000 pre-tax refund from the Federal Deposit Insurance Corporation
("FDIC").  This refund represents the overpayments made for FDIC  insurance
for  June  of  1995 and the third quarter of 1995 after the Bank  Insurance
Fund  ("BIF") was fully recapitalized. Upon full capitalization, assessment
rates  dropped  from a range of $.23 to $.31 per $100 in  insured  deposits
down  to a range of $.04 to $.31 per $100 in insured deposits. This  refund
represents  the rate reduction for the Bank retroactive to the end  of  May
1995.  Net  income for the three months ended September 30, 1995  excluding
the  BIF  refund was $1,205,000, an increase of  $26,000 or 2.2%  over  the
same period in 1994.
     
     The average balance of interest earning assets during the three months
ended September 30, 1995 was $312,059,000, a $13,036,000  increase over the
comparable 1994 period.  The Company's average yield on earning assets  for
the  three  months ended September 30, 1995 increased to 8.4%  compared  to
7.8%  during the comparable period in 1994. The increase in average  yields
is  due  to higher interest rates on adjustable rate loans within the  loan
portfolio  due  to the several rate increases in the Prime  Rate  over  the
latter  part  of  1994  and one in January of 1995. Total  interest  income
increased $809,000 or 14.0% for the three months ended September  30,  1995
compared to the same 1994 period due to an increase in average yields.
     
     Average  deposits  for the Company for the three  month  period  ended
September  30,  1995  were  $303,397,000, a  $7,955,000  or  2.7%  increase
compared  to  the  three months ended September 30,  1994.   The  Company's
average  cost  of funds for the three months ended September 30,  1995  was
3.2%  which  yielded a net interest margin of 6.0%.  This  compares  to  an
average cost of funds of 2.4% and an identical net interest margin of  6.0%
for  the same period in 1994. Interest expense of $1,925,000 for the  three
months  ended September 30, 1995 was $568,000 or 41.9% over  the comparable
1994  period  due  to an increase in average interest bearing  deposits  of
$6,563,000  and an increase in the average rate paid on deposits  of  0.8%.
Net  interest  income for the three month period ended September  30,  1995
increased  $241,000 or 5.4% and resulted from the increase of  $809,000  in
total  interest  income  and an increase of $568,000   in  total   interest
expense.
     
     Total  loan  charge-offs net of recoveries for the three months  ended
September  30,  1995  amounted to $114,000,  compared  to  $65,000  net  of
recoveries for the same period in 1994.  Annualized net loan charge-offs as
a percentage of average loans for the three months ended September 30, 1995
was 0.23% compared to 0.14% for the three months ended September 30, 1994.
     
     Total  other income was $478,000 for the three months ended  September
30, 1995, a $124,000 or 20.6% decrease compared to the same period of 1994.
Gains on sale of loans decreased by $111,000 from the third quarter of 1994
due  to  high  sales  activity in 1994. Net gains on  sales  of  securities
increased  by $30,000 due to decreased sales activity in the third  quarter
of  1995. Other variances include mortgage banking fees which increased  by
$3,000  and other income which decreased $44,000 from the third quarter  of
1994.
<PAGE>     
     Salaries and benefits expense for the three months ended September 30,
1995  was  $1,645,000, a $57,000 or 3.6% increase over the comparable  1994
period, and resulted primarily from normal salary increases and an increase
in  the  Company's contributions to the Bonus and Employee Stock  Ownership
Program.
     
     Total  other expenses, excluding salaries and benefits, for the  three
months  ended  September  30, 1995, was $1,364,000,  a  $170,000  or  11.1%
decrease  from the comparable 1994 period. This decrease was primarily  the
result  of the refund received by the Company in September 1995 of $173,000
from  the Bank Insurance Fund ("BIF") due to the recapitalization  of  BIF.
Other  variances include occupancy expense which increased $52,000  due  to
the  expense  of  temporary branch facilities due to the expansion  of  the
Salinas  main  office.  Equipment  expense  increased  $31,000,  legal  and
professional fees decreased by $52,000 for the three months ended September
30,  1995  and  other expense decreased $28,000 from the third  quarter  of
1994.
     
     Applicable  income  taxes  of  $839,000 for  the  three  months  ended
September  30,  1995 were $98,000, or 13.2% more than the  comparable  1994
period.   The  Company's  effective tax rate for  the  three  months  ended
September 30, 1995 was 39.0% compared to 38.6% for the same period in 1994.


Liquidity Management

       Liquidity  represents  the  ability  of  the  Company  to  meet  the
requirements of customer borrowing needs as well as fluctuations in deposit
flows.

      Core  deposits,  which include demand, savings and  interest  bearing
demand  accounts,  money market accounts and time  deposits  of  less  than
$100,000, provide a relatively stable funding base.  Core deposits averaged
$158,984,000 or 45.9% of average total assets during the three months ended
September  30, 1995, as compared to $156,753,000 or 48.2% of average  total
assets for the fiscal year ended December 31, 1994.  At September 30,  1995
core  deposits  were  $161,627,000 or 44.8% of total  assets,  compared  to
$154,515,000 or 44.9% of total assets at year end 1994.

      The  Company's principal sources of asset liquidity are cash and cash
due  from banks, Federal Funds sold, short term investments, loans held for
sale  and available-for-sale investment securities.  At September 30,  1995
these  sources represented $103,092,000 or 32.6% of total deposits compared
to  $66,821,000 or 22.0% at year end 1994.  This increase in liquidity  for
the  nine  months  ended  September 30, 1995  resulted  primarily  from  an
increase  in  Federal Funds sold, short term investments and available-for-
sale securities.

      In  the opinion of management, there are sufficient resources to meet
the liquidity needs of the Company at present and projected future levels.

Capital Resources

      Capital  management  is a continuous process  of  providing  adequate
capital for current needs and anticipated future growth.  Capital serves as
a  source  of  funds  for the acquisition of fixed  and  other  assets  and
protects  depositors  against potential losses.  As  the  Company's  assets
increase, so do its capital requirements.

      The  Company  and  the  Bank are subject  to  Federal  Reserve  Board
guidelines   and   regulations   of  the  Comptroller   of   the   Currency
("Comptroller"),  respectively, governing capital  adequacy.   The  Federal
Reserve  Board  has  established  final  risk-based  and  leverage  capital
guidelines  for  bank  holding  companies  which  are  the  same   as   the
Comptroller's capital regulations for national banks.
<PAGE>
      The  Federal  Reserve  Board  capital  guidelines  for  bank  holding
companies  and the Comptroller's regulations for national banks  set  total
capital requirements and define capital in terms of "core capital elements"
(comprising Tier 1 capital) and "supplemental capital elements" (comprising
Tier  2  capital).  Tier 1 capital is generally defined as the sum  of  the
core  capital elements less goodwill.  The following items are  defined  as
core   capital   elements:    common   stockholders'   equity,   qualifying
noncumulative  perpetual  preferred stock, and minority  interests  in  the
equity   accounts  of  consolidated  subsidiaries.   Supplementary  capital
elements include:  allowance for loan and lease losses (which cannot exceed
1.25%  of an institution's risk weighted assets), perpetual preferred stock
not  qualifying as core capital, hybrid capital instruments  and  mandatory
convertible  debt instruments, and term subordinated debt and intermediate-
term  preferred stock.  The maximum amount of supplemental capital elements
which qualifies as Tier 2 capital is limited to 100% of Tier 1 capital, net
of goodwill.

      Risk-based  capital  ratios are calculated with  reference  to  risk-
weighted  assets, including both on and off-balance sheet exposures,  which
are  multiplied  by  certain risk weights assigned by the  Federal  Reserve
Board to those assets.  Both bank holding companies and national banks  are
required  to maintain a minimum ratio of qualifying total capital to  risk-
weighted  assets of 8%, at least one-half of which must be in the  form  of
Tier  1 capital.  There are presently four risk-weight categories:  0%  for
cash   and  unconditionally  guaranteed  government  securities;  20%   for
conditionally   guaranteed  government  securities;  50%   for   performing
residential  real  estate  loans secured  by  first  liens;  and  100%  for
commercial loans.

      The Federal Reserve Board and the Comptroller also have established a
minimum  leverage  ratio  of 3% Tier I capital to  total  assets  for  bank
holding  companies  and  national  banks that  have  received  the  highest
composite  regulatory rating and are not anticipating or  experiencing  any
significant growth.  All other institutions will be required to maintain  a
leverage ratio of at least 100 to 200 basis points above the 3% minimum.

      The  following tables show the Company's and the Company's risk-based
and leverage capital ratios as of September 30, 1995 and December 31, 1994.
As  indicated  in  these  tables, the Company's and the  Company's  capital
ratios  significantly  exceeded  the minimum  capital  levels  required  by
current federal regulations.  Management believes that the Company and  the
Company will continue to meet their respective minimum capital requirements
in the foreseeable future.
                         Risk Based Capital Ratio
                          (Dollars in Thousands)
                                (Unaudited)
                                   Pacific Capital Bancorp
                          September 30, 1995        December 31, 1994
                           Amount       Ratio        Amount       Ratio

Tier 1 Capital             $41,879   18.15%          $38,750    16.83%

Tier 1 Capital Minimum
     Requirement             9,228     4.00%           9,208     4.00%

Excess                     $32,651    14.15%         $29,542    12.83%

Total Capital              $44,124    19.13%         $41,188    17.89%

Total Capital Minimum
     Requirement            18,457     8.00%          18,416     8.00%

Excess                     $25,667    11.13%         $22,772     9.89%

Risk Adjusted Assets             $230,710                  $230,202
<PAGE>
                          First National Bank of Central California
                          September 30, 1995        December 31, 1994
                           Amount       Ratio        Amount       Ratio

Tier 1 Capital             $39,433   17.27%          $35,244    15.55%

Tier 1 Capital Minimum
     Requirement             9,135     4.00%           9,066     4.00%

Excess                     $30,298    13.27%         $26,178    11.55%

Total Capital              $41,678    18.25%         $37,682    16.63%

Total Capital Minimum
     Requirement            18,270     8.00%          18,132     8.00%

Excess                     $23,408    10.25%         $19,550     8.63%

Risk Adjusted Assets             $228,371                  $226,652
                                     
                              Leverage Ratio
                          (Dollars in Thousands)
                                (Unaudited)

                                    Pacific Capital Bancorp
                          September 30, 1995         December 31, 1994
                          Amount       Ratio         Amount        Ratio

Tier 1 Capital to Average
     Total Assets        $41,879    12.04%           $38,750    11.38%

Minimum Leverage        $10,433 to  3.00% to       $10,212 to   3.00% to
     Requirement         $17,388     5.00%           $17,020     5.00%

Excess                  $24,491 to  7.04% to       $21,730 to   6.38% to
                         $31,446     9.04%           $28,538     8.38%

Average Total Assets            $347,763                   $340,401

                           First National Bank of Central California
                          September 30, 1995         December 31, 1994
                          Amount       Ratio         Amount        Ratio

Tier 1 Capital to Average
     Total Assets        $39,433    11.40%           $35,244    10.45%

Minimum Leverage        $10,374 to  3.00% to       $10,114 to   3.00% to
     Requirement         $17,290     5.00%           $16,856     5.00%

Excess                  $22,144 to  6.40% to       $18,388 to   5.45% to
                         $29,059     8.40%           $25,130     7.45%

Average Total Assets            $345,790                   $337,121

      Federal banking laws impose restrictions upon the amount of dividends
the Bank may declare to the Company.  Federal laws also impose restrictions
upon  the  amount  of loans or advances that the Bank  may  extend  to  the
Company.  In management's opinion, these do not affect the ability  of  the
Company to meet its cash obligations.
     
<PAGE>
Item 6.   Exhibits and Reports on Form 8-K

          (a)  Exhibits
          
               None
          
          (b)  Reports on Form 8-K
               
               A report on Form 8-K dated February 28, 1995, was filed with
               the Commission on March 21, 1995, reporting under Item 5 --
               Other Events -  The stock repurchase program was amended to
               increase the price per share at which the Company will
               repurchase shares from $18.00 per share to $22.00 per share
               of not more than 300,000 shares of the Company's outstanding
               common stock at an aggregate purchase price not to exceed
               $5,000,000.
               
               A report on Form 8-K dated August 22, 1995, was filed with
               the Commission on August 22, 1995, reporting under Item 5 --
               Other Events -  The stock repurchase program was amended to
               increase the price per share at which the Company will
               repurchase shares from $22.00 per share to $24.00 per share
               of not more than 300,000 shares of the Company's outstanding
               common stock at an aggregate purchase price not to exceed
               $5,000,000.
               
<PAGE>                                     
                                SIGNATURES
                                     

      Pursuant to the requirements 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.



Date __October 30, 1995_______          /S/    D. Vernon Horton
                                        D. Vernon Horton
                                        Chief Executive Officer





Date __October 30, 1995_______          /S/    Dennis A. DeCius
                                        Dennis A. DeCius
                                        Executive Vice President
                                        Chief Financial Officer