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UNITED STATES OMB APPROVAL
SECURITIES AND EXCHANGE COMMISSION ------------------------------
Washington, D.C. 20549 OMB Number 3235-0145
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Placer Sierra Bancshares
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
726079106
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(CUSIP Number)
May 31, 2006
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|x| Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
PAGE 1 OF 11 PAGES
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CUSIP No. 726079106 13G Page 2 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
Manulife Financial Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
N/A
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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5 SOLE VOTING POWER
-0-
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Number of 6 SHARED VOTING POWER
Shares
Beneficially -0-
Owned by --------------------------------------------------------
Each 7 SOLE DISPOSITIVE POWER
Reporting
Person -0-
With --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None, except through its indirect, wholly-owned subsidiaries, MFC
Global Investment Management (U.S.A.) Limited, John Hancock
Advisers, LLC, Sovereign Asset Management LLC, and Independence
Investments LLC. Independence Investments LLC ceased being a
subsidiary following the close of business on May 31, 2006.
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
See line 9 above.
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12 TYPE OF REPORTING PERSON*
HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 2 OF 11 PAGES
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CUSIP No. 726079106 13G Page 3 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
MFC Global Investment Management (U.S.A.) Limited
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
N/A
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
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5 SOLE VOTING POWER
787
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Number of 6 SHARED VOTING POWER
Shares
Beneficially -0-
Owned by --------------------------------------------------------
Each 7 SOLE DISPOSITIVE POWER
Reporting
Person 787
With --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
787
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.005%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 3 OF 11 PAGES
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CUSIP No. 726079106 13G Page 4 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
Independence Investments, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
N/A
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
573,353
--------------------------------------------------------
Number of 6 SHARED VOTING POWER
Shares
Beneficially 127,000
Owned by --------------------------------------------------------
Each 7 SOLE DISPOSITIVE POWER
Reporting
Person 700,353
With --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
700,353
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.639%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 4 OF 11 PAGES
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CUSIP No. 726079106 13G Page 5 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
John Hancock Advisers, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
N/A
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
-0-
--------------------------------------------------------
Number of 6 SHARED VOTING POWER
Shares
Beneficially 181,000
Owned by --------------------------------------------------------
Each 7 SOLE DISPOSITIVE POWER
Reporting
Person -0-
With --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
54,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
181,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.199%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 5 OF 11 PAGES
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CUSIP No. 726079106 13G Page 6 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
Sovereign Asset Management LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
N/A
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
-0-
--------------------------------------------------------
Number of 6 SHARED VOTING POWER
Shares
Beneficially 54,000
Owned by --------------------------------------------------------
Each 7 SOLE DISPOSITIVE POWER
Reporting
Person -0-
With --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
54,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
54,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.358%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 6 OF 11 PAGES
This amendment is being filed pursuant to Rule 13d-2 as the aggregate
holdings of all reporting persons have decreased by more than 5% of the
outstanding shares of the Issuer.
This Amendment No. 2 to Schedule 13G also amends the initial Schedule 13G,
and the Amendment No. 1 thereto, relating to the Common Stock of the Issuer
filed with the Securities and Exchange Commission on September 7, 2005 and
February 8, 2006, respectively, primarily to correct double counting of shares.
As a result of such double counting, the initial filing on Schedule 13G was
erroneously made on September 7, 2005 (at which time the aggregate holdings of
all reporting persons did not exceed 10% of the outstanding shares) rather than
by December 10, 2006, as the first month end at which the holdings exceeded 10%
was November 30, 2005.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
Item 1(a) Name of Issuer:
Placer Sierra Bancshares
Item 1(b) Address of Issuer's Principal Executive Offices:
525 J Street
Sacramento California 95814
Item 2(a) Name of Person Filing:
This filing is made on behalf of Manulife Financial Corporation
("MFC"), and MFC's indirect, wholly-owned subsidiaries, MFC
Global Investment Management (U.S.A.) Limited ("MFC Global"),
Independence Investments, LLC ("IIA"), John Hancock Advisers,
LLC ("JHA") and Sovereign Asset Management LLC ("SAM").
Item 2(b) Address of the Principal Offices:
The principal business offices of MFC and MFC Global are located
at 200 Bloor Street, East, Toronto, Ontario, Canada, M4W 1E5;
IIA is located at 53 State Street, Boston, MA 02109; JHA is
located at 601 Congress Street, Boston, Massachusetts 02210; SAM
is located at 101 Huntington Avenue, Boston, Massachusetts. IIA
ceased being a subsidiary of MFC following the close of business
on May 31, 2006.
Item 2(c) Citizenship:
MFC and MFC Global are organized and exist under the laws of
Canada.
IIA, JHA and SAM are organized and exist under the laws of the
State of Delaware.
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
726079106
Item 3 If the Statement is being filed pursuant to Rule 13d-1(b), or
13d-2(b), check whether the person filing is a:
MFC: (g) (X) Parent Holding Company, in accordance with
ss.240.13d-1(b)(ii)(G).
MFC Global: (e) (X) Investment Adviser registered under ss.203
of the Investment Advisers Act of 1940.
PAGE 7 OF 11 PAGES
IIA: (e) (X) Investment Adviser registered under ss.203
of the Investment Advisers Act of 1940.
JHA: (e) (X) Investment Adviser registered under ss.203
of the Investment Advisers Act of 1940.
SAM: (e) (X) Investment Adviser registered under ss.203
of the Investment Advisers Act of 1940.
Item 4 Ownership:
(a) Amount Beneficially Owned: MFC Global has beneficial
ownership of 787 shares of Common Stock, IIA has
beneficial ownership of 700,353 shares of Common Stock
(including 127,000 shares held by IIA with respect to
which JHA has shared voting and investment discretion),
JHA has beneficial ownership of 181,000 shares of Common
Stock (including 127,000 shares held by IIA with respect
to which JHA has shared voting and investment discretion
and 54,000 shares for which SAM has shared voting and
investment discretion) and SAM has beneficial ownership of
54,000 shares of Common Stock. Through its
parent-subsidiary relationship to MFC Global, IIA, JHA and
SAM, MFC may be deemed to have beneficial ownership of
these same shares.
(b) Percent of Class: Of the 15,096,778 shares outstanding
as of May 5, 2006, according to the issuer's quarterly
report on form 10-Q for the period ended March 31,
2006, MFC Global held .005%, IIA held 4.639%, JHA held
1.199% and SAM held .358%. The aggregate percentage
held as of May 31, 2006 (after eliminating double
counting as a result of shared investment or voting
discretion) by all reporting persons was 5.002%.
The Schedule 13-G filing on September 7, 2005 and the
Schedule 13-G amendment filed on February 14, 2006 are
corrected as follows:
Of the 14,993,473 shares outstanding as of October 25,
2005 according to the issuer's quarterly report on Form
10-Q for the period ended September 30, 2005, the
aggregate percentage held by all of the reporting persons
(after eliminating double counting as a result of shared
voting) was 10.995% as of December 31, 2005. After
eliminating double counting, the percent held by all of
the reporting persons as of August 31, 2005 was 8.36% so
the initial Schedule 13G should not have been filed at
that time but by December 10, 2005, as on November 30,
2006 the holdings were 10.125%, which was the first month
end at which the holdings exceeded 10%.
(c) Number of shares as to which the person has:
As of May 31, 2006
------------------- ------------------- ------------------- ------------------- -------------------
Holder Sole Voting Shared Voting Sole Dispositive Shared Dispositive
------------------- ------------------- ------------------- ------------------- -------------------
MFC 0 0 0 0
------------------- ------------------- ------------------- ------------------- -------------------
MFC Global 787 0 787 0
------------------- ------------------- ------------------- ------------------- -------------------
IIA 573,353 127,000 700,353 0
------------------- ------------------- ------------------- ------------------- -------------------
JHA 0 181,000 0 54,000
------------------- ------------------- ------------------- ------------------- -------------------
SAM 0 54,000 0 54,000
------------------- ------------------- ------------------- ------------------- -------------------
PAGE 8 OF 11 PAGES
The Schedule 13-G filing on September 7, 2005 is corrected as follows:
As of August 31, 2005
------------------- ------------------- ------------------- ------------------- -------------------
Holder Sole Voting Shared Voting Sole Dispositive Shared Dispositive
------------------- ------------------- ------------------- ------------------- -------------------
MFC 0 0 0 0
------------------- ------------------- ------------------- ------------------- -------------------
MFC Global 498 0 498 0
------------------- ------------------- ------------------- ------------------- -------------------
IIA 931,000 265,500 1,196,500 0
------------------- ------------------- ------------------- ------------------- -------------------
JHA 54,000 265,500 54,000 0
------------------- ------------------- ------------------- ------------------- -------------------
SAM 0 0 0 0
------------------- ------------------- ------------------- ------------------- -------------------
The Schedule 13-G amendment filed on February 14, 2006 is corrected as follows:
As of December 31, 2005
------------------- ------------------- ------------------- ------------------- -------------------
Holder Sole Voting Shared Voting Sole Dispositive Shared Dispositive
------------------- ------------------- ------------------- ------------------- -------------------
MFC 0 0 0 0
------------------- ------------------- ------------------- ------------------- -------------------
MFC Global 787 0 787 0
------------------- ------------------- ------------------- ------------------- -------------------
IIA 1,335,100 258,700 1,593,800 0
------------------- ------------------- ------------------- ------------------- -------------------
JHA 54,000 258,700 54,000 0
------------------- ------------------- ------------------- ------------------- -------------------
SAM 0 0 0 0
------------------- ------------------- ------------------- ------------------- -------------------
Item 5 Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following (X).
Following the sale of Independence Investment LLC after the
close of business on May 31, 2006, the aggregate number of
shares beneficially owned by Manulife Financial Corporation and
its remaining subsidiaries dropped to less than 3% of the
Issuer's outstanding shares.
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
Not applicable.
Item 7 Identification and Classification of the Subsidiary which
Acquired the Security Being Reported on by the Parent Holding
Company:
See Items 3 and 4 above.
Item 8 Identification and Classification of Members of the Group:
Not applicable.
Item 9 Notice of Dissolution of a Group:
Not applicable.
Item 10 Certification:
By signing below the undersigned certifies that, to the best of
its knowledge and belief, the securities referred to above were
acquired and are held in the ordinary course of business and
were not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
PAGE 9 OF 11 PAGES
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Manulife Financial Corporation
By: /s/ Angela Shaffer
Name: Angela Shaffer
Dated: June 09, 2006 Title: Vice President and Corporate Secretary
MFC Global Investment Management (U.S.A.) Limited
By: /s/ Norman Light
Name: Norman Light
Dated: June 09, 2006 Title: Chief Financial Officer
Independence Investments, LLC
By: /s/ Patricia Thompson
Name: Patricia Thompson
Dated: June 09, 2006 Title: Chief Compliance Officer
John Hancock Advisers, LLC
By: /s/ Al Ouellette
Name: Al Ouellette
Dated: June 09, 2006 Title: Assistant Vice President and Senior Counsel
Sovereign Asset Management LLC
By: /s/ Al Ouellette
Name: Al Ouellette
Dated: June 09, 2006 Title: Assistant Vice President and Senior Counsel
PAGE 10 OF 11 PAGES
EXHIBIT A
JOINT FILING AGREEMENT
Manulife Financial Corporation, MFC Global Investment Management (U.S.A.)
Limited, Independence Investments, LLC, John Hancock Advisers, LLC and Sovereign
Asset Management LLC agree that the Schedule 13G (Amendment No. 2) to which this
Agreement is attached, relating to the Common Stock of Placer Sierra Bancshares
is filed on behalf of each of them.
Manulife Financial Corporation
By: /s/ Angela Shaffer
Name: Angela Shaffer
Dated: June 09, 2006 Title: Vice President and Corporate Secretary
MFC Global Investment Management (U.S.A.) Limited
By: /s/ Norman Light
Name: Norman Light
Dated: June 09, 2006 Title: Chief Financial Officer
Independence Investments, LLC
By: /s/ Patricia Thompson
Name: Patricia Thompson
Dated: June 09, 2006 Title: Chief Compliance Officer
John Hancock Advisers, LLC
By: /s/ Al Ouellette
Name: Al Ouellette
Dated: June 09, 2006 Title: Assistant Vice President and Senior Counsel
Sovereign Asset Management LLC
By: /s/ Al Ouellette
Name: Al Ouellette
Dated: June 09, 2006 Title: Assistant Vice President and Senior Counsel
PAGE 11 OF 11 PAGES