UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | May 26, 2011 |
First PacTrust Bancorp, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Maryland | 000-49806 | 04-3639825 |
_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
610 Bay Boulevard, Chula Vista, California | 91910 | |
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
Registrants telephone number, including area code: | (619) 691-1519 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
A press release was issued on May 26, 2011 announcing the declaration of a $0.11 per share quarterly cash dividend, payable on July 1, 2011
to shareholders of record as of June 10, 2011.
Item 9.01 Financial Statements and Exhibits.
Press Release dated May 26, 2011
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
First PacTrust Bancorp, Inc. | ||||
May 26, 2011 | By: |
/s/ James P. Sheehy
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Name: James P. Sheehy | ||||
Title: Executive Vice President - Secretary |
Exhibit Index
Exhibit No. | Description | |
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99.1
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Press Release dated May 26, 2011 |
FIRST PACTRUST BANCORP, INC.
FOR IMMEDIATE RELEASE
May 26, 2011
First PacTrust Bancorp, Inc. Announces Quarterly Dividend Increase
CHULA VISTA, CA May 26, 2011 First PacTrust Bancorp, Inc. (NASDAQ: FPTB), the holding company for Pacific Trust Bank (the Bank), announced today that its Board of Directors has declared a quarterly cash dividend of eleven cents ($0.110) per share on its outstanding common stock. The dividend will be payable on July 1, 2011 to shareholders of record as of June 10, 2011.
Gregory Mitchell, President and Chief Executive Officer of the Company, said Following completion of a review of our strong capital position and long-term earnings prospects, the Board of Directors elected to increase our cash dividend from $0.105 to $0.110 per share. Based upon the closing price of $15.44 on May 25, 2011, this increased dividend rate results in an annualized dividend yield of 2.85%.
Mr. Mitchell noted that this will be the first cash dividend that is subject to the Companys new Dividend Reinvestment Plan, in which all registered shareholders participate unless an opt-out form is submitted by the shareholder to the Companys transfer agent, Registrar and Transfer Company, by June 7, 2011 (three business days prior to the dividend record date). The Company will reinvest DRIP participant cash dividends by purchasing stock from the Company at a 3% discount from the applicable market price.
The Companys stock is traded on the NASDAQ Global Market under the symbol FPTB. First PacTrust Bancorp, Inc. is the parent holding company of Pacific Trust Bank and is headquartered in Chula Vista, California. Pacific Trust Bank currently operates through ten banking offices serving primarily San Diego and Riverside Counties in California. Pacific Trust Bank 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.
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 Companys filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and the Company 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.
Contact:
First PacTrust Bancorp, Inc.
Gregory A. Mitchell, President and CEO
Phone: (619) 691-1519 x-4474