SEC FORM 3 SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Capurro Keith Lee
(Last) (First) (Middle)
9990 DOUBLE R. BOULEVARD
(Street)
RENO NV 89521
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
01/29/2009 		3. Issuer Name and Ticker or Trading Symbol
BANK HOLDINGS [ TBHS ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 3,530 D
Common Stock 12,600(1) I By CKB, LLC
Common Stock 441(2) I By Spouse
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options 07/18/2002(3) 07/18/2012 Common Stock 12,679 $9.07 D
Stock Options 07/06/2004(4) 07/06/2014 Common Stock 4,410 $14.3 D
Stock Option 02/16/2006(5) 02/16/2016 Common Stock 1,575 $17.37 D
Stock Option 02/27/2007(6) 02/27/2017 Common Stock 2,000 $18.83 D
Explanation of Responses:
1. The reporting owner has a one-third interest in CKB, LLC and disclaims beneficial ownership of the securities to the extent of his pecuniary interest of 4,200 shares.
2. The reporting person disclaims beneficial ownership of these securties and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
3. Vesting was 2,536 shares each year for five years commencing on 7/18/2002 and concluding on 7/18/2006. The vesting period on the unvested portion of 12,679 existing stock options was accelerated on December 28, 2005 by action of the Company's Board of Directors.
4. Vesting was 882 shares each year for five years commencing on 7/6/2004 and concluding on 7/6/2008. The vesting period on the unvested portion of 4,410 existing stock options was accelerated on December 28, 2005 by action of the Company's Board of Directors.
5. The option became exercisable as to 315 shares on 2/16/2006, 315 shares on 2/16/2007, and 315 shares on 2/16/2008 and will become exercisable as to 315 shares on 2/16/2009 and 315 shares on 2/16/2010.
6. The option became exercisable as to 400 shares on 2/27/2007 and 400 shares on 2/27/2008 and will become exercisable as to 400 shares on 2/27/2009, 400 shares on 2/27/2010 and 400 shares on 2/27/2011.
Keith Lee Capurro 02/04/2009
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.