This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

First PacTrust Bancorp, Inc. Announces 3rd Quarter 2012 Results

The Company’s total assets increased by $555 million from $1.1 billion at June 30, 2012 to finish the third quarter of 2012 at $1.7 billion. The Company’s net interest margin for the third quarter of 2012 was 4.02% and its cost of interest-bearing deposits was 0.53%. Non-interest income for the quarter climbed to $19.5 million including the bargain purchase gain. Growth in non-interest income was enhanced by the acquisition of Mission Hills Mortgage Bankers on August 18, 2012, as a part of the Gateway acquisition. Mission Hills Mortgage originated approximately $110 million in single-family residential loans per month during the third quarter.

After consolidation of the net deferred tax assets of Beach Business Bank and Gateway Business Bank, the Company has recorded a net deferred tax asset of $7.4 million, net of a valuation allowance of $7.0 million as of September 30, 2012. The Company will continue to evaluate this valuation allowance each quarter.

During the third quarter of 2012, the Company announced the planned acquisition of The Private Bank of California, a $600 million (assets) bank headquartered in Century City, CA. During the third quarter of 2012, the Company also reported a quarterly dividend of $0.12 per common share, paid on October 1, 2012.

The Company plans to discuss its third quarter earnings, among other items, at its Investor Day on November 9, 2012, from 9:00 a.m. to 1:00 p.m., Pacific Time. All interested parties are welcome to attend the event at the Riviera Country Club in Los Angeles, CA or via live audio at www.firstpactrust.com or conference call at 866-503-8728, event code 68806439.

Excerpts from the Investor Day Presentation relating to third quarter earnings are available on the www.firstpactrust.com website.

About First PacTrust Bancorp

Based in Irvine, CA, First PacTrust Bancorp, Inc. is the $1.6-billion multi-bank holding company of Pacific Trust Bank and Beach Business Bank, which together operate 19 banking offices in Los Angeles, Orange, San Diego and Riverside counties, and 23 loan production offices in California, Arizona, Oregon and Washington. PacTrust Bank gives customers convenient account access choices through 30,000 surcharge-free ATM locations nationwide, as well as mobile, online and telephone banking. PacTrust Bank and Beach Business Bank provide a full range of deposit and loan services tailored to meet the needs of small-to-mid-sized businesses, professionals and individuals.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs