SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                  FORM 10-QSB

[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934

For the quarterly period ended: September 30, 2002

Commission File No: 0-49879

                                MISSION BANCORP
                (Name of small business as specified in charter)

                                   California
                 (State or other jurisdiction of incorporation)

                                   73-1631401
                      (IRS Employer Identification Number)

                    1330 Truxtun Avenue Bakersfield, CA 93301
                                 (661) 859-2500
          (Address and telephone number of principal executive offices)

Indicate  by  check mark whether the issuer (1) filed all reports required to be
filed  by  Section 13 or 15(d) of the Exchange Act during the past 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
           ---

State the number of shares outstanding of each of the issuer's classes of common

equity, as of the September 30, 2002 (latest practicable date):

Common Stock:     558,104

Transitional Small Business Disclosure Format (check one): YES    ; NO  X
                                                               ---


<PAGE>
<TABLE>
<CAPTION>
                                MISSION BANCORP

                                      INDEX


                                                                      PAGE
                                                                      ----
<S>                                                                   <C>
PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

Balance Sheet at September 30, 2002. . . . . . . . . . . . . . . . .     1
Statements of Operations for the Three and Nine Months Ended
  September 30, 2002 and 2001. . . . . . . . . . . . . . . . . . . .     2
Statements of Cash Flows for the Nine Months Ended
  September 30, 2002 and 2001. . . . . . . . . . . . . . . . . . . .     3
Notes to Financial Statements. . . . . . . . . . . . . . . . . . . .     4

Item 2.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations . . . . . . . . . . . . . . . . .     5

PART II - OTHER INFORMATION. . . . . . . . . . . . . . . . . . . . .     7

SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     8
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

                         MISSION BANCORP AND SUBSIDIARY
                      CONSOLIDATED CONDENSED BALANCE SHEETS
                    (UNAUDITED - DOLLAR AMOUNTS IN THOUSANDS)


                                                        September
                                                         30,2002
<S>                                                    <C>
ASSETS
------

Cash and Cash Equivalents
Cash and due from banks                                $    3,248
Federal funds sold                                         24,600
                                                       -----------

    Total Cash and Cash Equivalents                        27,848

Time deposits in Other Financial Institutions                 894
Investment securities, net                                  1,513
Federal Home Loan Bank Stock, at Cost                          14

Loans                                                      40,943
Allowance for Loan Losses                                    (699)
                                                       -----------
    Net Loans                                              40,244

Leasehold improvements, furniture, and equipment, net         297
Accrued interest receivable and other assets                  529
                                                       -----------

    TOTAL ASSETS                                       $   71,339
                                                       ===========



LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------

Deposits
  Demand deposits                                      $   18,152
  Public Funds                                             47,006
                                                       -----------

    Total Deposits                                         65,158

Accrued Interest Payable and Other Liabilities                120
                                                       -----------

    Total Liabilities                                      65,278
                                                       -----------

Shareholders' Equity

  Common Shares                                             5,610
  Accumulated Earnings                                        446
  Accumulated Other Comprehensive Income                        5
                                                       -----------

    Total Shareholders' Equity                              6,061
                                                       -----------

    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY         $   71,339
                                                       ===========
</TABLE>

The accompanying notes are an integral part of these condensed financial
statements.


<PAGE>
<TABLE>
<CAPTION>
                                MISSION BANCORP AND SUBSIDIARY
                       CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
               (UNAUDITED - DOLLAR AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)


                                For the Three Months Ended   For the Nine Months Ended
                                        September 30,              September 30,
                                --------------------------  --------------------------
                                    2002          2001          2002          2001
                                ------------  ------------  ------------  ------------
<S>                             <C>            <C>              <C>          <C>
Interest Income                 $        882  $        896  $      2,524  $      2,500
Interest Expense                         233           322           677           952
                                ------------  ------------  ------------  ------------
     Net Interest Income                 649           574         1,847         1,548
Provision for Loan Losses                  -            60           130           157
                                ------------  ------------  ------------  ------------
Net Interest Income after
     Provision for Loan Losses           649           514         1,717         1,391

Non-Interest Income                       97            55           221           166
Non-Interest Expense                     573           390         1,468         1,096
                                ------------  ------------  ------------  ------------
     Income before Taxes                 173           179           470           461
Income Taxes                              73            81           200           136
                                ------------  ------------  ------------  ------------
     Net Income                 $        100  $         98  $        270  $        325
                                ============  ============  ============  ============
Per Share Data:
     Net Income - Basic         $       0.18  $       0.18  $       0.48  $       0.58
     Net Income - Diluted       $       0.18  $       0.18  $       0.48  $       0.58
</TABLE>

The accompanying notes are an integral part of these condensed financial
statements.


<PAGE>
<TABLE>
<CAPTION>
                         MISSION BANCORP AND SUBSIDIARY
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                    (UNAUDITED - DOLLAR AMOUNTS IN THOUSANDS)

                  NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001


                                                            --------------------
                                                              2002       2001
                                                            ---------  ---------
<S>                                                         <C>        <C>
OPERATING ACTIVITIES
 Net Income                                                 $    270   $    325
 Adjustments to reconcile net income to net cash
  provided by operating activities:
   Gain on other real estate owned                                 -        (16)
   Provision for Loan Losses                                     130        157
   Depreciation and amortization                                  87         59
   Decrease (increase) in Other Assets and Int. Receivable        12          5
   Increase in deferred income taxes                             (53)         -
   Decrease in other liabilities                                (260)        26
                                                            ---------  ---------
          Net Cash Provided by Operating Activities              186        556
                                                            ---------  ---------
INVESTING ACTIVITIES
 Proceeds from maturing, called or sold investments            1,199      1,800
 Purchases of investment securities                          (13,935)   (10,352)
 Net activity in loans made to customers                         244    (11,114)
 Purchases of Premises and Equipment                            (144)      (148)
 Net Proceeds from foreclosure activity                            -         16
                                                            ---------  ---------
          Net Cash Used in Investing Activities              (12,636)   (19,798)
                                                            ---------  ---------
CASH FLOWS FROM FINANCING ACTIVITIES
 Net increase in deposits                                     14,615     19,117
 Increase (decrease) in repurchase agreements                   (336)       516
 Common stock proceeds                                            31         12
                                                            ---------  ---------
          Net Cash Provided by Financing Activities           14,310     19,645
                                                            ---------  ---------
Net Increase in Cash and Cash Equivalents                      1,860        403

Cash and Due from Banks at beginning of period                 1,388      2,178
                                                            ---------  ---------
Cash and Due from Banks at end of period                    $  3,248   $  2,581
                                                            =========  =========
</TABLE>

For purposes of reporting cash flows, cash and cash equivalents include cash on
hand and amounts due from banks.

The accompanying notes are an integral part of these condensed financial
statements.


<PAGE>
Note 1. Basis of Presentation and Disclosure

The accompanying unaudited consolidated condensed financial statements of
Mission Bancorp (the "Company") have been prepared in accordance with accounting
principles generally accepted in the United States of America for interim
financial information and with the instructions to Form 10-QSB. Accordingly,
they do not include all of the information and footnotes required by accounting
principles generally accepted in the United States of America for complete
financial statements. In the opinion of management, all adjustments (consisting
only of normal recurring accruals) considered necessary for the financial
statements not to be misleading have been included. Operating results for the
nine month period ended September 30, 2002, are not necessarily indicative of
the results that may be expected for the full year. All capitalized terms used
in these notes to consolidated condensed financial statements that are not
defined herein have the meanings given to them in such consolidated financial
statements and notes to consolidated financial statements.

All material intercompany balances and transactions have been eliminated.

The Company is a bank holding company regulated by the Federal Reserve that owns
100% of the outstanding capital stock of Mission Bank ("Bank"). The Company is
organized under the laws of the State of California, and is a member of the
Federal Reserve System whose deposits are insured by the Federal Deposit
Insurance Corporation. The Bank provides a full range of commercial banking and
consumer banking services to businesses and individuals. The Company is
regulated by the Federal Reserve and various state agencies.


Following is information about the computation of earnings per share data for
the three and nine months ended September 30, 2002 and 2001.
Income (numerator) amounts are in thousands of dollars.

<TABLE>
<CAPTION>
                                            Three Months Ended September 30, 2002
                                       ---------------------------------------------
                                           Income         Shares        Per-Share
                                        (Numerator)    (Denominator)      Amount
                                       --------------  -------------  --------------
<S>                                    <C>             <C>            <C>
Basic EPS
  Income available to common
 stockholders                          $          100        558,104  $          .18
                                                                      ==============
  Effect of dilutive securities stock
 options                                            -          3,438
                                       --------------  -------------

Diluted EPS
  Income to common stockholders        $          100        561,542  $          .18
                                                       =============  ==============


                                            Three Months Ended September 30, 2001
                                       ---------------------------------------------
                                          Income          Shares         Per-Share
                                        (Numerator)    (Denominator)      Amount
                                       --------------  -------------  --------------
Basic EPS
  Income available to common
 stockholders                          $           98        555,584  $          .18
                                                                      ==============
  Effect of dilutive securities stock
 options                                            -          3,171
                                       --------------  -------------

Diluted EPS
  Income to common stockholders        $           98        558,755  $          .18
                                                       =============  ==============


<PAGE>
                                             Nine Months Ended September 30, 2002
                                       ---------------------------------------------
                                          Income          Shares         Per-Share
                                        (Numerator)    (Denominator)      Amount
                                       --------------  -------------  --------------
Basic EPS
  Income available to common
 stockholders                          $          270        558,104  $          .48
                                                                      ==============
  Effect of dilutive securities stock
 options                                            -          3,438
                                       --------------  -------------

Diluted EPS
  Income to common stockholders        $          270        561,542  $          .48
                                                       =============  ==============


                                             Nine Months Ended September 30, 2001
                                       ---------------------------------------------
                                          Income          Shares         Per-Share
                                        (Numerator)    (Denominator)      Amount
                                       --------------  -------------  --------------
Basic EPS                              $          325        555,584  $          .58
                                                                      ==============
  Income available to common
 stockholders
  Effect of dilutive securities stock
 options                                            -          3,171
                                       --------------  -------------

Diluted EPS
  Income available to common
 stockholders                          $          325        558,755  $          .58
                                                       =============  ==============
</TABLE>


        ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The following discussion and analysis presents a review of the consolidated
condensed operating results for the three and nine month periods ending
September 30, 2002 and 2001 and financial condition at September 30, 2002 of
Mission Bancorp and its subsidiary.

DISCUSSION OF FINANCIAL CONDITION CHANGES FROM DECEMBER 31, 2001 TO SEPTEMBER
30, 2002

Total assets increased by $14.3 million or 25.1%, from $57 million at December
31, 2001, to $71.3 million at September 30, 2002. The increase was invested
principally in loans to bank customers and federal funds sold. The increase in
total assets was primarily due to an increase in new customer deposits.

Short-term investments, consisting of federal funds sold, available for sale
investments, and time deposits in other financial institutions with maturities
less than one year, increased $12.7 million, or 88.8% to $27 million at
September 30, 2002 from $14.3 million at December 31, 2001.  Net loans to bank
customers decreased $400 thousand, or 0.9% from $40.6 million at December 31,
2001 to $40.2 million at September 30, 2002.

The Allowance for Loan Losses reflects management's analysis of the level of
allowance needed to provide for reasonably foreseeable losses, based upon the
following factors: (1) the credit condition of the bank's loan customers,
including the underlying collateral, if any; (2) the general business economic
conditions; (3) the average maturity of the loan portfolio; and (4) historical
experience.  The general valuation allowance is maintained to cover losses
inherent in a portfolio of performing loans.  The specific valuation allowance
is maintained to cover losses on loans for which full collectability may not be
reasonably assured.

The Allowance for Loan Losses increased by $130 thousand or 22.8% from $569
thousand at December 31, 2001 to $699 thousand at September 30, 2002.  No loans
were charged off during the nine months ended September 30, 2002.  The Allowance
for Loan Losses was 1.70% of total loans outstanding at September 30, 2002 as
compared to 1.4% at December 31, 2001.


<PAGE>
Deposits increased $14.7 million, or 29.1% from $50.5 million at December 31,
2001 to $65.2 million at September 30, 2002.  Non-interest bearing deposits
increased $6.1 million and interest-bearing deposits increased $8.6 million.
Non-interest bearing deposits were $18.2 million at September 30, 2002 or 27.9%
of total deposits.

Interest bearing deposits at September 30, 2002

NOW accounts                       $  2,250,004
Money Market accounts                24,376,111
Savings accounts                      2,491,111
Time Certificates under $100M         6,790,921
Time Certificates over $100M         11,097,976
                                  -------------
Total Interest Bearing Deposits     $47,006,123

ASSET QUALITY AND NON-PERFORMING ASSETS

The Company's classified loans were $2,103,300 as of September 30, 2002 (5.14%
of total loans). Assets which are classified are those deemed by management as
inadequately protected by the current sound worth and paying capacity of the
obligor or of the collateral pledged, if any. Assets, which are classified, have
a well-defined weakness or weaknesses that could jeopardize the liquidation of
the debt. There are no assets currently classified as doubtful or loss.


                                            September 30, 2002
                                            ------------------
Classified Loans & Discount                    $2,103,300
Other Real Estate Owned & Repossessions        $0
Total Classified and Other                     $2,103,300
Percent Classified and Other/Total Loans              5.14%
Gross Loans & Discount                         $40,943,199


In management's best judgment, all non-performing assets are either fully
collateralized or appropriately reserved based on circumstances known at this
time.


CAPITAL

Stockholder's equity increased $300 thousand or 5.2% from $5.8 million at
December 31, 2001 to $6.1 million at September 30, 2002.  The increase is
attributable to an increase in accumulated earning of $270 thousand and
exercised common stock options of $30 thousand.

The company and subsidiary bank are subject to capital requirements administered
by regulatory banking agencies.  These agencies require the bank meet specific
capital adequacy guidelines that involve quantitative measures of their assets,
liabilities, and certain off-balance sheet items as calculated under regulatory
accounting practices.  The company and bank's capital classification is also
subject to qualitative judgment by the regulators about interest rate risk,
concentrations of credit risk, and other factors.

In accordance with risk-based capital guidelines established by the Federal
Reserve Board, the bank is required to maintain a minimum ratio of total capital
to risk weighted assets, and minimum leverage ratios included in the table
below.  In addition to maintaining capital at or above the minimum established
ratios, banks are expected to diversify risk, including minimizing interest rate
risk exposure, maintain excellent control systems, good earnings, high asset
quality, high liquidity, and in general be considered strong organizations.  The
bank's ratios are listed below.

     Capital Ratios                    September 30, 2002       Adequate
     Total risk-weighted capital             13.45%             > 8.00%
     Tier I risk-weighted capital            12.20%             > 4.00%
     Tier I leverage ratio                   8.80%              > 4.00%


<PAGE>
LIQUIDITY

The company's principal source of liquidity and funding are through its diverse
deposit base. For banks, liquidity is the ability to meet loan commitments,
withdrawals of deposit funds, and operating expenses. The level of deposits is
influenced by general interest rates, national and local economic conditions,
and competition. The company's liquidity at September 30, 2002 includes: $3.2
million in cash and due from banks; $24.6 million in overnight invested fed
funds; and other short-term investments of $2.4 million.

RESULTS OF OPERATIONS

The results of operations are compared for the three and nine months ending
September 30, 2002 to September 30, 2001. Net income for the three months and
nine months ending September 30, 2002 was $100 thousand and $270 thousand
respectively. This is compared to $98 thousand and $325 thousand for the same
periods in 2001. Earnings for the nine months ending September 30, 2002 were
impacted by the decreasing rate environment, accompanied by the banks lower loan
demand, thus pushing investments into the lower yielding fed funds. In addition,
the bank's new branch opened on June 3, 2002, continues to incur more expenses
than revenue in its early start-up phases. During the nine months ending
September 30, 2001 the bank anticipated a tax net loss carry forward from the
previous year, thus the effective tax expense rate was 29.5% as compared to the
42.5% for the nine months ending September 30, 2002. Applying the comparable tax
rate against the 2001 earnings would have produced a Net after-tax Income for
the nine months ending 2001 of $265 thousand.

NET INTEREST INCOME

Net interest income before provision for loan losses for the three and nine
months ending September 30, 2002 was $649 thousand and $1.8 million
respectively, compared to $574 thousand and $1.5 million for the same periods in
2001. This was an increase of 13.1% and 19.3% in 2002 for the three and nine
month periods over 2001.

Interest income from investment securities, fed funds, and time deposits in
other banks increased by $14 thousand for the three months ending September 30,
2002 as compared to the same period for 2001, and decreased by $16 thousand for
the nine months ending September 30, 2002 when compared to the nine months
ending September 30, 2001. The decreased earnings are due primarily to the
significantly lower rate environment during 2002, coupled with the replacement
of higher yielding matured investments with lower interest yields.

Interest and fees on loans for the three months ending September 30, 2002 and
2001 were $768 and $796 respectively. For the nine months ending September 30,
2002, interest and fees on loans increased a very moderate $39 thousand over the
same period for 2001. Although the bank experienced an increase in average loan
balances outstanding, this increase was offset by lower interest rates.

Interest expense on deposits and other borrowings decreased by $89 thousand and
$260 thousand for the three and nine month periods respectively in 2002 from the
same periods in 2001. The major contributing factor to the decrease is the
dramatic fall in interest rates from the beginning of 2001 to September 30,
2002. Although the bank experienced a $9.8 million increase in interest-bearing
deposit balances from September 30, 2001 to September 30, 2002 the majority of
the increase was in lower rate Money Market accounts.

Interest expense on savings and interest-bearing DDA accounts, including Money
Market accounts, decreased $13.6 thousand or 12.3% for the three months ending
September 30, 2002 from September 30, 2001. For the nine months ending September
30, 2002 interest expense for the same category decreased $32 thousand or 10.9%
from the same period in 2001. Interest expense on Time deposits decreased $75
thousand, or 36.7% and $227 thousand, or 35.2% respectively for the three months
and nine months ending September 30, 2002 from the same period in 2001.

OPERATING EXPENSES

Operating expenses increased by $149 thousand for the three months ending
September 30, 2002 over the same period of 2001 from $390 thousand to $539, and
by $337 thousand for the nine months ending September 30, 2002 over the same
period for 2001. Salaries and benefits increased by $80 thousand for the three
months ending September 30, 2002, and by $184 thousand for the nine months
ending September 30, 2002, over the same periods respectively for 2001. These
increases were for additional staffing brought in for the new branch, and
increases in benefit costs. Other operating expenses increased $69 for the three
months ending September 30, 2002 and $122 thousand for the nine months ending
September 30, 2002 as compared to the same periods in 2001. These increases were
from increases in depreciable assets, and start up costs for the new branch.


<PAGE>
PROVISION FOR LOAN LOSSES

Management recognizes that although its best judgment is used in underwriting
loans, industry experience dictates that a certain portion of the loan portfolio
is at risk of becoming delinquent or the bank may experience losses due to
factors beyond their control, such as changes in market conditions affecting the
credit of the borrower. Accordingly, management has established an allowance for
loan losses, which totals $699 thousand at September 30, 2002 or 1.7% of total
loans outstanding. The bank does not have any losses during or preceding this
reporting period. The bank's allowance for loan losses was analyzed and
determined to be adequate at September 30, 2002.

PROVISION FOR INCOME TAXES

The company has recorded deferred tax assets based on its estimates of future
taxable income that deductible temporary differences and carry forwards are
expected to be available to reduce such taxable income. Deferred tax assets at
September 30, 2002 are $215 thousand.


PART II -- OTHER INFORMATION

Item 1. Legal Proceedings

           None.

Item 2. Changes in Securities

           None

Item 3. Defaults Upon Senior Securities

           None.

Item 4. Submission of Matters to a Vote of Securities Holders

           None.

Item 5. Other Information

           None.

Item 6. Exhibits and reports on Form 8-K

(a) The following exhibits are filed as part of this report.
99.1  Certification of  Chief Executive Officer
99.2  Certification of Chief Financial Officer


(b) Reports on Form 8-K. The following reports on Form 8-K were filed during the
period covered by this report:

         None.


<PAGE>
                                   SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

                     MISSION BANCORP
November 4, 2002     By: /s/ Richard Fanucchi
                        ---------------------
                     Name: Richard Fanucchi
                     Title: President


Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated;

Signature                                  Title                   Date
(i)  Principal Executive Officer:        President           November 4, 2002
/s/  Richard Fanucchi
---------------------
Richard Fanucchi

(ii) Principal Accounting and      Chief Financial Officer   November 4, 2002
     Financial Officer
/s/ Craig Swenson
-----------------
Craig Swenson


EXHIBIT INDEX

99.1     Certification of Chief  Executive Officer
99.2     Certification of Chief  Financial Officer


                                  END OF FILING


<PAGE>