- On March 12, 2012, the Company announced that it had entered into a merger agreement with UnionBanCal Corporation. Pursuant to the merger agreement, each outstanding share of the Company’s common stock will receive cash in the amount of $46.00 per share upon consummation of the Merger. The acquisition requires approval from banking regulators and is subject to other customary closing conditions, and is expected to be completed in the fourth quarter of 2012;
- Achieved a return on average assets of 1.15% and a return on average equity of 8.54% for the three months ended March 31, 2012;
- Improved net interest margins to 4.29% for the first quarter of 2012, compared with 3.99% for the first quarter of 2011; and
- Increased regulatory capital ratios to 12.8% and 20.6% for Tier 1 Leverage and Total Risk-Based Capital, respectively.
Pacific Capital Bancorp Reports First Quarter 2012 Results
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