content: 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): September 15, 2003
  
  
                            Sutter Holding Company, Inc.
  
               (Exact name of registrant as specified in its charter)
  
  
  
             Delaware                   1-15733                   59-2651232
          (State or other             (Commission              (I.R.S. Employer
  jurisdiction of incorporation)      File Number)            Identification No.)
  
  
                             150 Post Street, Suite 405
                           San Francisco, California 94108
  
                 (Address of principal executive offices) (zip code)
  
                                   (415) 788-1441
                           (Registrant's telephone number,
                                including area code)
  
  
  
                         (Former name or former address, if
                            changed since last report.)
  
  
  
  <PAGE>
  
  
  Item 5.       Other Events and Regulation FD Disclosure
  
  
  On September 15, 2003, the Board of Directors of Sutter Holding Company, Inc.
  (the "Company") adopted the Sutter Holding Company, Inc. Stock Repurchase Policy
  and Program (the "Repurchase Program") for the purchase of its shares of common
  stock ("Shares"). This Repurchase Program will be in effect from the date
  adopted through February 29, 2004 (the "Program Period"). The Repurchase Program
  is intended neither to change the reporting status of the Company, nor to
  constitute any market making in the Shares, but is intended solely to permit the
  Company to make limited purchases of Shares when market prices warrant.
  
  The Company's Chief Financial Officer ("CFO") has been directed by the Board to
  monitor the trading prices of the Company's Shares. At any time that the CFO
  deems the Shares to be available for acquisition, whether in the open market or
  in a private transaction, at prices which are at a substantial discount to
  management's estimate of the Company's true asset value or going concern value,
  the CFO will consult with one or both of the Company's Co Chief Executive
  Officers ("CEO") regarding the repurchase of Shares. Any repurchase of Shares
  will be effected subject to the following conditions:
  
          1.    The CEO and CFO agree that the Shares are generally undervalued
                and the repurchase of such Shares would be in the best interests
                of the Company.
          2.    The Company has excess cash reserves available to purchase the
                Shares. Total cash used to purchase Shares under this Repurchase
                Program during the Program Period will not exceed the sum of
                $175,000. Any Company funds used to repurchase Shares will be
                legally available for stock repurchases under applicable Delaware
                and California law.
          3.    In no event will the total number of Shares purchased by the
                Company during the Program Period exceed 5% of the total number of
                Shares outstanding as of the beginning of the Program Period.
          4.    The CEO and CFO will determine that no material nonpublic
                information exists which would substantiate any claim that a
                repurchase under the Repurchase Program was effected in violation
                of 1934 Act rules and regulations prohibiting trading on material
                nonpublic information.
          5.    The CEO and CFO will determine that executing a repurchase
                transaction will not be characterized as having the intention or
                effect of manipulating the market price by inducing another party
                to buy or sell the shares, nor will it otherwise be deemed to be
                making a market in the Shares. It is understood that, due to the
                thin trading market for the Shares, management of the Company may
                not always be able to comply with the safe harbor provisions of
                Rule 10b-18 under 1934 Act. The CFO and CEO will nevertheless seek
                to comply with such safe harbor provisions in connection with any
                repurchase whenever practicable.
          6.    The CEO and CFO will not effect any repurchase by means of any
                tender offer as that term is used in the 1934 Act.
  
  Except as expressly described above, the decision whether or not to repurchase
  Shares in any particular transaction will be in the full discretion of the CEO
  and CFO.
  
  
  
  
  
  
  
  <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 hereunto duly authorized.
  
  
  
  
  Dated: September 18, 2003         SUTTER HOLDING COMPANY, INC
  
                                    By: s/ ROBERT E. DIXON
                                        ------------------
                                        Robert E. Dixon,
                                        Co-Chief Executive Officer
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
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metadata_filer: {"company-data": {"conformed-name": "SUTTER HOLDING CO INC", "cik": "0001100202", "assigned-sic": "6211", "irs-number": "753111137", "state-of-incorporation": "DE", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15733", "film-number": "03901171"}, "business-address": {"street1": "150 POST ST", "street2": "SUITE 405", "city": "SAN FRANCISCO", "state": "CA", "zip": "94108", "phone": "4157881441"}, "mail-address": {"street1": "150 POST ST", "street2": "SUITE 405", "city": "SAN FRANCISCO", "state": "CA", "zip": "94108"}, "former-company": {"former-conformed-name": "SHOCHET HOLDING CORP", "date-changed": "19991201"}}
text: 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): September 15, 2003
  
                            Sutter Holding Company, Inc.
  
               (Exact name of registrant as specified in its charter)
  
             Delaware                   1-15733                   59-2651232
          (State or other             (Commission              (I.R.S. Employer
  jurisdiction of incorporation)      File Number)            Identification No.)
  
                             150 Post Street, Suite 405
                           San Francisco, California 94108
  
                 (Address of principal executive offices) (zip code)
  
                                   (415) 788-1441
                           (Registrant's telephone number,
                                including area code)
  
                         (Former name or former address, if
                            changed since last report.)
  Item 5.       Other Events and Regulation FD Disclosure
  
  On September 15, 2003, the Board of Directors of Sutter Holding Company, Inc.
  (the "Company") adopted the Sutter Holding Company, Inc. Stock Repurchase Policy
  and Program (the "Repurchase Program") for the purchase of its shares of common
  stock ("Shares"). This Repurchase Program will be in effect from the date
  adopted through February 29, 2004 (the "Program Period"). The Repurchase Program
  is intended neither to change the reporting status of the Company, nor to
  constitute any market making in the Shares, but is intended solely to permit the
  Company to make limited purchases of Shares when market prices warrant.
  
  The Company's Chief Financial Officer ("CFO") has been directed by the Board to
  monitor the trading prices of the Company's Shares. At any time that the CFO
  deems the Shares to be available for acquisition, whether in the open market or
  in a private transaction, at prices which are at a substantial discount to
  management's estimate of the Company's true asset value or going concern value,
  the CFO will consult with one or both of the Company's Co Chief Executive
  Officers ("CEO") regarding the repurchase of Shares. Any repurchase of Shares
  will be effected subject to the following conditions:
  
          1.    The CEO and CFO agree that the Shares are generally undervalued
                and the repurchase of such Shares would be in the best interests
                of the Company.
          2.    The Company has excess cash reserves available to purchase the
                Shares. Total cash used to purchase Shares under this Repurchase
                Program during the Program Period will not exceed the sum of
                $175,000. Any Company funds used to repurchase Shares will be
                legally available for stock repurchases under applicable Delaware
                and California law.
          3.    In no event will the total number of Shares purchased by the
                Company during the Program Period exceed 5% of the total number of
                Shares outstanding as of the beginning of the Program Period.
          4.    The CEO and CFO will determine that no material nonpublic
                information exists which would substantiate any claim that a
                repurchase under the Repurchase Program was effected in violation
                of 1934 Act rules and regulations prohibiting trading on material
                nonpublic information.
          5.    The CEO and CFO will determine that executing a repurchase
                transaction will not be characterized as having the intention or
                effect of manipulating the market price by inducing another party
                to buy or sell the shares, nor will it otherwise be deemed to be
                making a market in the Shares. It is understood that, due to the
                thin trading market for the Shares, management of the Company may
                not always be able to comply with the safe harbor provisions of
                Rule 10b-18 under 1934 Act. The CFO and CEO will nevertheless seek
                to comply with such safe harbor provisions in connection with any
                repurchase whenever practicable.
          6.    The CEO and CFO will not effect any repurchase by means of any
                tender offer as that term is used in the 1934 Act.
  
  Except as expressly described above, the decision whether or not to repurchase
  Shares in any particular transaction will be in the full discretion of the CEO
  and CFO.
  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 hereunto duly authorized.
  
  Dated: September 18, 2003         SUTTER HOLDING COMPANY, INC
  
                                    By: s/ ROBERT E. DIXON
                                        ------------------
                                        Robert E. Dixon,
                                        Co-Chief Executive Officer
  
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