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1st Pacific Bancorp (FPBN) news stock charts

1st Pacific Bancorp (FPBN) Investment Summary:

1st Pacific Bancorp operates as the holding company for 1st Pacific Bank of California that provides commercial banking services to small and middle-market businesses and professionals in California. The company’s deposit products include personal and business checking, money market, savings, and certificates of deposit account. Its loan portfolio comprises commercial and residential real estate loans, construction loans, commercial business loans, consumer loans, and loans made or guaranteed through the Small Business Administration loan program. The company also offers cash management services and products, such as online banking, automated clearing house origination, wire transfers, daily...
www.1stpacbank.com
100 Employees
Founded in 2000

1ST PACIFIC BANCORP (FPBN:OTC Bulletin Board Market)

LAST $0.85 USD
CHANGE TODAY 0.00 0.00%
VOLUME 1.6K
As of 8:10 PM 03/19/10 All times are local (Market data is delayed by at least 15 minutes).

Snapshot of 1ST PACIFIC BANCORP (FPBN)

OPEN
$0.75
PREVIOUS CLOSE
$0.85
DAY HIGH
$0.85
DAY LOW
$0.75
52 WEEK HIGH
07/17/09 - $2.66
52 WEEK LOW
11/17/09 - $0.44
MARKET CAP
4.2M
AVERAGE VOLUME 10 D
6.0K
EPS TTM
--
SHARES OUTSTANDING
5.0M
FPBN Does Not Pay Dividends
P/E TTM
--
K = Thousands  M = Millions  B = Billions

Key developments for 1ST PACIFIC BANCORP (FPBN)

1st Pacific Bancorp Restates Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009; Announces Preliminary Earnings Results for the Fourth Quarter and Year Ended December 31, 2009; Appoints Paula J. Berggren as Executive Vice President and Chief Credit Officer

1st Pacific Bancorp restated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the reported results should reflect an additional provision for the allowance for loan losses of $8.8 million and to increase the valuation allowance for deferred tax assets by $5.3 million. The company restated a net loss of approximately $15.9 million or $3.19 diluted loss per share rather than the previously reported net loss of $1.9 million or $0.37 diluted loss per share. For the nine months, the company restated a net loss of approximately $17.2 million or $3.45 diluted loss per share rather than the previously reported net loss of $3.1 million or $0.63 diluted loss per share. The company on January 21, 2010, appointed Paula J. Berggren as executive vice president and chief credit officer. Ms. Berggren is expected to serve on the Banks Loan Committee. Ms. Berggren brings vast experience in community bank credit administration, including banks challenged by adverse economic conditions. Most recently, from 2006 to 2009, Ms. Berggren served as executive vice president and chief credit officer of First Business Bank, which previously operated under a consent order. The company announced preliminary results for the fourth quarter and year and quarter ended December 31, 2009. For the quarter, the company reported net income of approximately $1.4 million, primarily attributable to $1.6 million in tax benefits associated with a new tax law. For the year, the company reported a net loss of approximately $15.8 million.

1st Pacific Updates On Delisting Plans

1st Pacific Bancorp notified the NASDAQ Stock Market on January 27, 2010, of its intent to file a Form 25 with the Securities and Exchange Commission on February 8, 2010, to delist its Common Stock, no par value, from NASDAQ effective 10 days after the filing of the Form 25. The firm said, We have decided to voluntarily delist from NASDAQ as part of our overall strategy of conserving resources and improving cost effectiveness. As previously disclosed on December 11, 2009, we received two letters from NASDAQ notifying us that we are failing to meet the minimum bid price requirement of $1 per share for continued listing, and the minimum market value of publicly held shares requirement of at least $5,000,000. Pursuant to the Form 25, our Common Stock will no longer be traded on NASDAQ as of the tenth day after the Form 25 is filed, which we expect to be February 18, 2010. We are working with a market maker to have our Common Stock quoted on the OTC Bulletin Board. We will continue to file periodic reports with the Securities and Exchange Commission pursuant to the requirements of Section 12(g) of the Securities Exchange Act of 1934, as amended.

1st Pacific Bank of California and 1st Pacific Bancorp Announce Management Changes

1st Pacific Bancorp and 1st Pacific Bank of California announced it has appointed veteran banker John McGrath to be its President and Chief Executive Officer, effective Jan. 1, 2010. Carlson noted that he will resign as President and CEO as of Dec. 31, 2009, but will continue on in his role as Chairman of the Board of Directors of the company. McGrath is a 40-year banking veteran with deep expertise in managing banks challenged by adverse condition. He recently joined the company as a management consultant.

1st Pacific Bancorp financial resources

otc, otcbb, pinksheet, FPBN, ob 1st Pacific Bancorp

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Industry Analysis

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Price/Earnings NM Not Meaningful
Price/Sales NM Not Meaningful
Price/Book 0.7x
Price/Cash Flow NM Not Meaningful
TEV/Sales 8.0x

FPBN

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More Recent Financial News About 1st Pacific Bancorp

1st Pacific Announces Preliminary Yearend Results; Appoints New Chief Credit Officer

Quote:
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1ST PACIFIC BANCORP Files SEC form 8-K, Other Events, Financial Statements and Exhibits

Quote: Item 9.01Financial Statements and Exhibits. (d)Exhibits. 99.1Press Release issued by 1st Pacific Bancorp on January 15, 2010. CAUTION REGARDING FORWARD-LOOKING STATEMENTS This Current Report on Form 8-K, including the exhibits hereto, may contain forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this Current Report on Form 8-K are not historical facts, do not consti...
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1st Pacific Appoints New CEO; Announces Regulatory Orders, NASDAQ Notification of Delinquency

Quote: Carlson, President and Chief Executive Officer, and Chairman of the Board of 1st Pacific Bancorp and 1st Pacific Bank. "The Board and I are confident that John is well qualified to take the company forward during this challenging time in its history."Carlson noted that he will resign as President and CEO as of Dec. 31, 2009, but will continue on in his role as Chairman of the Board of Directors of the company.McGrath is a 40-year banking veteran with deep expertise in managing banks challenged b...
Read article

First Business Bank, N.A. and 1st Pacific Bancorp Announce Termination of Planned Merger

Quote: Nathan Rogge, President of First Business Bank,stated that “today’s economic and regulatory environment presentedunanticipated complications that could not be overcome, given thestructure of the transaction.” The parties have begun to explorealternative transactions that could be mutually beneficial.www.fbbank.com.www.1stpacbank.com.Forward-Looking StatementsThis release may contain forward-looking statements, which are includedin accordance with the “safe harbor” ...
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1ST PACIFIC BANCORP Files SEC form 8-K, Termination of a Material Definitive Agreement, Change in Directors or Princi

Quote: Item 9.01Financial Statements and Exhibits. (d)Exhibits. 3.1Certificate of Amendment and Restatement of Articles of Incorporation of 1st Pacific Bancorp dated and effective December 16, 2009 CAUTION REGARDING FORWARD-LOOKING STATEMENTS This Current Report on Form 8-K, including the exhibits hereto, may contain forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this C...
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1ST PACIFIC BANCORP Files SEC form 8-K, Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Other Events

Quote: The forward-looking statements in this Current Report on Form 8-K do not constitute guarantees of future performance and involve a number of factors that could cause actual results to differ materially, including risks more fully described in 1st Pacific Bancorp's most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. 1st Pacific Bancorp assumes no obligation to update any forward-looking information contained in this Current Report or with respect to the announcements...
Read article

1st Pacific Appoints New CEO; Announces Regulatory Orders, NASDAQ Notification of Delinquency

Quote: Carlson, President and Chief Executive Officer, and Chairman of the Board of 1st Pacific Bancorp and 1st Pacific Bank. "The Board and I are confident that John is well qualified to take the company forward during this challenging time in its history."Carlson noted that he will resign as President and CEO as of Dec. 31, 2009, but will continue on in his role as Chairman of the Board of Directors of the company.McGrath is a 40-year banking veteran with deep expertise in managing banks challenged b...
Read article

1st Pacific Bancorp Announces Annual Meeting Dates

Quote: 858-875-2006. About 1st Pacific Bancorp 1st Pacific Bancorp is the holding company for 1st Pacific Bank of California, San Diego's leading local business bank. The bank offers a full complement of business products and services to meet the financial needs of professional firms, small- to mid-sized businesses, their owners and the people who work there. 1st Pacific Bank has a total of eight banking offices located in San Diego County in the University Towne Center area, the Tri-Cities area of O...
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1ST PACIFIC BANCORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Change in Directors or Principal

Quote: Item 1.01Entry into a Material Definitive Agreement. As disclosed in the Current Report on Form 8-K of 1st Pacific Bancorp ("1st Pacific Bancorp") filed with the U.S. Securities and Exchange Commission ("SEC") on July 17, 2009, 1st Pacific Bancorp and its wholly-owned subsidiary, 1st Pacific Bank of California ("1st Pacific Bank"), entered into an Agreement and Plan of Merger on July 16, 2009 (the "Agreement"), with FB Bancorp and First Business Bank, Nat...
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1ST PACIFIC BANCORP Files SEC form 8-K, Termination of a Material Definitive Agreement, Change in Directors or Princi

Quote: The forward-looking statements in this Current Report on Form 8-K do not constitute guarantees of future performance and involve a number of factors that could cause actual results to differ materially, including risks more fully described in 1st Pacific Bancorp's most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. 1st Pacific Bancorp assumes no obligation to update any forward-looking information contained in this Current Report or with respect to the announcements...
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1ST PACIFIC BANCORP Files SEC form 8-K, Other Events, Financial Statements and Exhibits

Quote: Item 9.01Financial Statements and Exhibits (d) Exhibits Exhibit 99.1Press Release issued by 1st Pacific Bancorp on September 22, 2009. ADDITIONAL INFORMATION AND WHERE TO FIND IT 1st Pacific Bancorp, FB Bancorp and First Business Bank, National Association, intend to file and furnish to their respective shareholders a joint proxy statement/prospectus concerning the mergers contemplated in the Agreement. Shareholders of 1st Pacific Bancorp, FB Bancorp and First Business Bank, National Associat...
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First Business Bank, N.A. and 1st Pacific Bancorp Announce Termination of Planned Merger

Quote: {"s" : "fbbn.ob,fpbn","k" : "c10,l10,p20,t10","o" : "","j" : ""}www.fbbank.com.www.1stpacbank.com.Forward-Looking StatementsThis release may contain forward-looking statements, which are includedin accordance with the “safe harbor” provisions of the PrivateSecurities Litigation Reform Act of 1995 and, accordingly, thecautionary statements contained in 1st Pacific Bancorp’s Annual Reporton Form 10-K for the year ended Dec. 31, 2008 (See Item I -- Business,and Item 7 -- Manageme...
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1ST PACIFIC BANCORP Files SEC form 8-K, Change in Directors or Principal Officers

Quote: 1ST PACIFIC BANCORPRequest a Trial to NEW EDGAR Online Pro Form 8-K for 1ST PACIFIC BANCORP 27-Oct-2009Change in Directors or Principal OfficersPrivacy PolicyTerms of ServiceCopyright/IP PolicySend FeedbackSEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness...
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1ST PACIFIC BANCORP Files SEC form 10-Q, Quarterly Report

Quote:
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1ST PACIFIC BANCORP Files SEC form 8-K, Other Events, Financial Statements and Exhibits

Quote: The forward-looking statements in this Current Report on Form 8-K do not constitute guarantees of future performance and involve a number of factors that could cause actual results to differ materially, including risks more fully described in 1st Pacific Bancorp's most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. 1st Pacific Bancorp assumes no obligation to update any forward-looking information contained in this Current Report or with respect to the announcements...
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1ST PACIFIC BANCORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Termination of a Material Definit

Quote: Item 1.01Entry into a Definitive Material Agreement On October 28, 2009, 1st Pacific Bancorp ("1st Pacific Bancorp"), its wholly-owned subsidiary, 1st Pacific Bank of California, FB Bancorp and First Business Bank, National Association ("First Business Bank"), entered into a Termination Agreement ("Termination Agreement"), pursuant to which the parties terminated the Agreement and Plan of Merger dated July 16, 2009, between such parties (the "Merger Agreement&...
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