First PacTrust Bancorp, Inc. Receives $32.0 Million of Capital From Small Business Lending Fund
30 Agosto 2011 - 10:00PM
Business Wire
First PacTrust Bancorp, Inc. (NASDAQ:FPTB), the holding company
for Pacific Trust Bank (the “Bank”), today announced that it has
received an investment of $32.0 million in the Company’s preferred
stock from the United States Department of the Treasury under the
Small Business Lending Fund (the “SBLF”). The SBLF is a $30 billion
voluntary program intended to encourage small business lending by
providing capital to qualified community banks at favorable
rates.
“We are pleased to have completed the SBLF capital infusion in
support of our small business lending operations,” commented
Gregory A. Mitchell, President and CEO. Mr. Mitchell added, “We
believe our participation in the SBLF program is a great
opportunity for the Company and the Bank to continue to meet the
credit needs of the small business community and also to benefit
our stockholders.”
As of June 30, 2011, the Company had consolidated total assets
of $882.3 million and stockholders’ equity of $160.5 million. The
Company’s book value per share was $13.91 as of June 30, 2011,
based upon 11,520,067 shares of common stock outstanding as of that
date.
About the Company
First PacTrust Bancorp, Inc. is the parent holding company of
Pacific Trust Bank and is headquartered in Chula Vista, California.
The Bank currently operates through 11 banking offices serving
primarily San Diego and Riverside Counties in California. The Bank
provides customers with the convenience of banking at more than
4,300 branch locations throughout the United States as part of the
CU Services Network and 28,000 fee-free ATM locations through the
CO-OP ATM Network.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are necessarily subject to risk and
uncertainty and actual results could differ materially from those
anticipated due to various factors, including those set forth from
time to time in the Company's filings with the Securities and
Exchange Commission. You should not place undue reliance on
forward-looking statements and the Company undertakes no obligation
to update any such statements to reflect circumstances or events
that occur after the dates on which the forward-looking statements
are made.
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