EX-99
2
ex99-07022013_120711.htm
Secconnect.com
First PacTrust Bancorp
, Inc.
Completes Acquisition of
The Private
Bank
of California
-
First PacTrust
'
s total assets exceed $3 billion with branches throughout Southern California and loan production offices in five western states.
-
The Private Bank of California merged into First PacTrust
'
s subsidiary Beach Business Bank, with the resulting bank named The Private Bank of California.
-
Transaction is expected to be immediately accretive to core earnings.
IRVINE, California, July 1, 2013
-
First PacTrust Bancorp, Inc
. (Nasdaq: BANC) (
"
First PacTrust
"
), the multi-bank holding company for Pacific Trust Bank and Beach Business Bank (
"
Beach
"
), today announced that First PacTrust has completed the acquisition of The Private Bank of California. The acquisition was accomplished by merging The Private Bank of California into Beach. Upon closing of the transaction, Beach was renamed
"
The Private Bank of California.
"
Steven Sugarman
,
C
hief
E
xecutive
O
fficer
of First PacTrust
, stated
"
We are thrilled to welcome The Private Bank of California and its talented employees to our organization. The closing of this transaction is an important step for
First PacTrust, which
now exceeds $3 billion in
consolidated
assets
. First PacTrust is increasingly well positioned to serve
the banking needs of the
most attractive
depositors
in the most
desirable
markets
of
Los Angeles, Orange and San Diego counties.
"
FIG Partners, LLC act
ed
as financial adviser to First PacTrust and Wachtell, Lipton, Rosen & Katz serv
ed
as legal counsel for this transaction. Milestone Advisors act
ed
as financial adviser to The Private Bank of California and King, Holmes, Paterno & Berliner, LLP serv
ed
as its legal counsel.
About First PacTrust Bancorp
Based in Irvine, Calif., First
PacTrust
Bancorp, Inc.
is the
multi-bank holding company of Pacific Trust Bank and
The Private Bank of California
,
with assets that
exceed
$3 billion operating
banking offices in
California
'
s
Los Angeles, Orange, San Diego and Riverside counties, and loan production offices in California, Arizona, Oregon, Montana and Washington.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the
"
Safe-Harbor
"
provisions 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 First PacTrust
'
s filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and the First PacTrust undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made.
Source: First PacTrust Bancorp, Inc.
Investor Relations Inquiries:
First PacTrust Bancorp, Inc.
Richard Herrin, 949-236-5300

EX - 99 2 ex99 - 07022013 _ 120711 . htm Secconnect.com First PacTrust Bancorp , Inc . Completes Acquisition of The Private Bank of California - First PacTrust ' s total assets exceed $ 3 billion with branches throughout Southern California and loan production offices in five western states . - The Private Bank of California merged into First PacTrust ' s subsidiary Beach Business Bank , with the resulting bank named The Private Bank of California . - Transaction is expected to be immediately accretive to core earnings . IRVINE , California , July 1 , 2013 - First PacTrust Bancorp , Inc . ( Nasdaq : BANC ) ( " First PacTrust " ) , the multi - bank holding company for Pacific Trust Bank and Beach Business Bank ( " Beach " ) , today announced that First PacTrust has completed the acquisition of The Private Bank of California . The acquisition was accomplished by merging The Private Bank of California into Beach . Upon closing of the transaction , Beach was renamed " The Private Bank of California . " Steven Sugarman , C hief E xecutive O fficer of First PacTrust , stated " We are thrilled to welcome The Private Bank of California and its talented employees to our organization . The closing of this transaction is an important step for First PacTrust , which now exceeds $ 3 billion in consolidated assets . First PacTrust is increasingly well positioned to serve the banking needs of the most attractive depositors in the most desirable markets of Los Angeles , Orange and San Diego counties . " FIG Partners , LLC act ed as financial adviser to First PacTrust and Wachtell , Lipton , Rosen & Katz serv ed as legal counsel for this transaction . Milestone Advisors act ed as financial adviser to The Private Bank of California and King , Holmes , Paterno & Berliner , LLP serv ed as its legal counsel . About First PacTrust Bancorp Based in Irvine , Calif . , First PacTrust Bancorp , Inc . is the multi - bank holding company of Pacific Trust Bank and The Private Bank of California , with assets that exceed $ 3 billion operating banking offices in California ' s Los Angeles , Orange , San Diego and Riverside counties , and loan production offices in California , Arizona , Oregon , Montana and Washington . Forward - Looking Statements This press release includes forward - looking statements within the meaning of the " Safe - Harbor " provisions 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 First PacTrust ' s filings with the Securities and Exchange Commission . You should not place undue reliance on forward - looking statements and the First PacTrust undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward - looking statement is made . Source : First PacTrust Bancorp , Inc . Investor Relations Inquiries : First PacTrust Bancorp , Inc . Richard Herrin , 949 - 236 - 5300
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