Business Context and Reporting Period
This Form 8-K was filed by First PacTrust Bancorp, Inc. (not BANC OF CALIFORNIA, INC.) on February 28, 2011. The report details a corporate governance action approved by the Board of Directors effective on the filing date.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a charter amendment and contains no financial performance data.
Material Changes
The primary material change is an amendment to Section A of Article 6 of the Company's charter:
- Common Stock: Authorized shares increased from 20,000,000 to 200,000,000.
- Preferred Stock: Authorized shares increased from 5,000,000 to 50,000,000.
Guidance, Outlook, and Management Commentary
Management stated that while there are no immediate plans to issue the additional authorized shares, the amendment is intended to provide greater flexibility in implementing the Company's previously announced growth strategy. No specific financial guidance, risks, or contingencies were disclosed in this filing.
Investor Verification Checklist
- Verify the registrant name is First PacTrust Bancorp, Inc., not BANC OF CALIFORNIA, INC.
- Confirm the effective date of the charter amendment (February 28, 2011).
- Review the attached Exhibit 3.1 (Articles of Amendment) for specific legal terms.
- Check subsequent filings for any actual issuance of the newly authorized shares.