First PacTrust Bancorp, Inc. Receives $32.0 Million of Capital From Small Business Lending Fund
First PacTrust Bancorp, Inc. (NASDAQ: FPTB) 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 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.
