First PacTrust Bancorp, Inc. (NASDAQ:FPTB) yesterday announced that it has received an investment of $32.0 million in First PacTrust Bancorp’s preferred stock from the United States Department of the Treasury under the Small Business Lending Fund (the “SBLF”). The SBLF is a $30 billion voluntary program intended to encourage small business lending by providing capital to qualified community banks at favorable rates.
As of June 30, 2011, First PacTrust Bancorphad consolidated total assets of $882.3 million and stockholders’ equity of $160.5 million. First PacTrust Bancorp’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.
Furthermore, First PacTrust Bancorp and Manhattan Beach, California-based Beach Business Bank, today jointly announced that they have entered into a definitive agreement pursuant to which Beach Business Bank will merge into a wholly owned subsidiary of First PacTrust.
The transaction is initially valued at approximately $37.4 million, or $9.07 per diluted share, to Beach Business Bank shareholders, representing a 53 percent premium relative to its most recent closing stock price. The First PacTrust and Beach Business Bank boards of directors have unanimously approved the transaction, which is expected to close in the first quarter of 2012.
First PacTrust Bancorp, Inc. is the parent holding company of Pacific Trust Bank and is headquartered in Chula Vista, California. First PacTrust Bancorp, Inc. currently operates through 11 banking offices serving primarily San Diego and Riverside Counties in California. First PacTrust Bancorp, Inc. provides customers with the convenience of banking at more than 4,300 branch locations throughout the United States as part of the CU Services Network and 28,000 fee-free ATM locations through the CO-OP ATM Network.
For more information about First PacTrust Bancorp, please visit: www.firstpactrustbancorp.com
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Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project. Cleantech Transit is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction approximately June 30th. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as we move ahead.
Cleantech Transit, Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects that can maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy has to offer.
For more information about Cleantech Transit, please visit: www.cleantechtransitinc.com
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China Finance Online Co., Ltd. (NASDAQ:JRJC) announced that the Company will report its 2011 second quarter and six months financial results ended June 30, 2011, after the market closes on Tuesday, August 30, 2011. The Company will host a conference call and a simultaneous webcast, on August 30, 2011 at 8:00 p.m. Eastern Time/August 31, 2011 8:00 a.m. Beijing Time. Interested parties may participate in the conference call by dialing approximately five minutes before the call start time at U.S. +1-877-847-0047, Hong Kong +852-3006-8101, Singapore +8008-523-396, or China +800-876-5011, and the pass code for all regions is 653431.
China Finance Online Co. Limited provides online financial and listed company data and information in the People Republic of China.
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Apricus Biosciences, Inc. (Nasdaq:APRI) announced that its wholly owned subsidiary, NexMed USA, has received clearance from the U.S. Food and Drug Administration (”FDA”) to market its second, over-the-counter (”OTC”) anti-itch drug, Hydrocortisone-D(TM), containing the Company’s NexACT(R) technology. “This is the second clearance by the FDA of a drug containing Apricus Bio’s NexACT(R) drug delivery technology, and as such, enhances our strategy of building out our OTC products division and creating a new revenue-generating portfolio for the Company,” explained Dr. Bassam Damaj, Chairman, President and Chief Executive Officer of Apricus Bio.”
Apricus Biosciences, Inc. engages in the design and development of pharmaceutical products and product candidates based on its patented NexACT drug delivery technology.
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Informatica Corporation (NASDAQ:INFA) announced continued momentum in the adoption of Informatica Cloud across the insurance industry. An increasing number of insurance companies rely on Informatica to address their unique challenges of integrating disparate data from a multitude of channels including adjusters, brokers, service providers, underwriters and other related parties.
Informatica Corporation provides enterprise data integration and data quality software and services worldwide. Its software solutions include a set of technologies that enable various enterprise-wide data integration initiatives.
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