- Achieved a return on average assets of 1.1% for the first quarter 2011 compared with 1.3% for the fourth quarter of 2010;
- Improved net interest margins to 3.99% for the first quarter of 2011 compared with 3.76% for the fourth quarter of 2010;
- Grew regulatory capital ratios to 11.1% and 17.3% for Tier 1 Leverage and Total Risk-Based Capital ratios, respectively.
Pacific Capital Bancorp (Nasdaq: PCBC), a community bank holding company (“the Company”), reported net income of $16.8 million, or $0.51 per diluted share for the three months ended March 31, 2011, compared with $20.8 million, or $0.68 per diluted share, for the three months ended December 31, 2010. This brings total net income to $42.5 million or $1.36 per diluted share, since the closing of the $500 million investment from a wholly-owned subsidiary of Ford Financial Fund, L.P. on August 31, 2010 (“Transaction Date”). First Quarter Highlights