UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) ~~June~~October 1928, ~~2007~~2008

CANYON BANCORP

(Exact name of registrant as specified in its charter)

California

333-135607

20-4346215

(State or other jurisdiction of

incorporation or organization)

(Commission File No.)

(I.R.S. Employee

Identification No.)

1711 E. Palm Canyon Drive, Palm Springs, CA 92264

(Address of principal executive offices) ~~(Zip code)~~

(Zip code)

(760) 325-4442

(Registrant’s telephone number including area code)

~~(Former name or former address, if changed since last report)~~ Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 53.02 ~~DEPARTURE~~RECENT SALE OF ~~DIRECTORS~~UNREGISTERED ~~OR CERTAIN OFFICERS~~SECURITIES; ~~ELECTION~~USE OF ~~DIRECTORS;~~PROCEEDS ~~APPOINTMENT~~FROM OFREGISTERED ~~CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS~~SECURITIES

On ~~June~~October 1928, ~~2007~~2008, the ~~Board~~Company of(“Canyon ~~Directors~~Bancorp”) ofsold ~~Canyon~~an ~~National~~aggregate ~~Bank~~of ~~approved~~413,691 anshares ~~Amendment~~of toits ~~the~~common ~~Salary~~stock ~~Continuation~~for ~~Agreement~~a ~~dated~~purchase ~~May 15,~~price ~~2006 between~~of ~~Canyon~~$9.50 ~~National~~per ~~Bank~~share ~~and~~to ~~Stephen~~certain G.of ~~Hoffmann~~its directors, ~~the~~executive ~~President~~officers and its ~~Chief~~principal ~~Executive~~shareholder, ~~Officer~~the ofAgua ~~Canyon~~Caliente ~~National~~Band ~~Bank.~~of ~~Pursuant~~Cahuilla ~~to the Agreement~~Indians, asin ~~amended,~~a ~~Mr. Hoffmann~~private ~~will~~placement beof ~~entitled~~its tosecurities. aThe ~~retirement~~purchase ~~benefit~~price ~~vesting~~of at the ~~rate~~shares ofwas $~~12,000~~ 9.50 per ~~year for 2006~~share, ~~2007 and 2008,~~ or aan ~~maximum~~aggregate ~~benefit~~ of $363,930,000, ~~per~~the ~~year~~fair ~~payable~~market invalue ~~monthly~~of ~~installments~~the ~~following~~shares ~~his~~as ~~severance~~determined by ~~from~~the ~~employment~~Board ~~after~~of heDirectors ~~attains~~of ~~normal~~the ~~retirement age~~Company. ~~The~~As ~~vesting~~part ~~requirement~~of ~~for~~its ~~the~~determination ~~2006~~of ~~benefit,~~the ~~which~~fair ~~required that~~market ~~Canyon~~value, ~~National~~the ~~Bank~~board ~~achieve~~received from an ~~annul~~independent ~~return~~investment onbank ~~beginning~~a ~~equity~~valuation ofreport atthat ~~least~~provided ~~15%,~~the ~~was~~board ~~previously~~with ~~met,~~a ~~and~~range ~~Mr. Hoffmann’s~~of ~~2006~~values ~~plan~~for ~~benefit~~the ~~has vested~~shares. The ~~amendment~~Company intends to ~~the~~downstream ~~Salary~~a ~~Continuation~~significant ~~Agreement~~portion ~~(i) removes~~of the ~~requirement of~~proceeds ~~future~~from ~~performance~~the ~~goals~~private inplacement ~~order~~to ~~for~~its Mrwholly-owned subsidiary, Canyon National Bank. ~~Hoffmann~~ toThe ~~vest~~securities were sold in ~~his~~a ~~2007~~private ~~and~~placement ~~2008~~transaction ~~plan~~exempt ~~benefit,~~from ~~and~~registration ~~(ii) adds~~under ~~language~~the tofederal securities ~~comply~~law ~~with~~pursuant to Section ~~409~~4(A2) of the ~~Internal~~Securities ~~Revenue~~Act ~~Code~~of ~~relating~~1933, toas ~~nonqualified deferred compensation plans~~amended.

ITEM 9.01

FINANCIAL STATEMENTS AND EXHIBITS

(c)

Exhibits

ExhibitNumber		Description
10.17		First Amendment to Salary Continuation Agreement dated June 19, 2007 between Stephen G. Hoffmann and Canyon National Bank.
99.1		Press Release dated October 31, 2008

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit Index

Exhibit No.		Exhibit Title
10.17		First Amendment to Salary Continuation Agreement dated June 19, 2007 by and between Stephen G. Hoffmann and Canyon National Bank
99.1		Press Release dated October 31, 2008

Dated: June 21, 2007

CANYON BANCORP

Dated: November 3, 2008

CANYON BANCORP

~~/s/ Jonathan J. Wick~~By:

/s/ Jonathan J. Wick

Jonathan J. Wick, Chief Operating Officer, Executive Vice President and Chief Financial Officer

Jonathan J. Wick, Executive Vice President and Chief Financial Officer

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