Business Context and Reporting Period
This Form 8-K is filed by First PacTrust Bancorp, Inc. (referred to in metadata as BANC OF CALIFORNIA, INC.) for the reporting period ending September 26, 2011. The filing reports on corporate governance changes regarding the departure of a principal officer.
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 personnel changes and does not contain financial statement data.
Material Changes
The primary material change reported is the departure of James Sheehy, Executive Vice President and Corporate Secretary of the Company and its Pacific Trust Bank subsidiary. Mr. Sheehy informed the Company of his intention to retire effective October 6, 2011. The filing states there were no disagreements regarding operations, policies, or practices.
Guidance, Outlook, and Management Commentary
Management announced that Richard Herrin, currently Executive Vice President and Chief Administrative Officer, will succeed Mr. Sheehy and assume the additional role of Corporate Secretary. No financial guidance, outlook, or discussion of risks and contingencies is provided in this filing.
Investor Verification Checklist
- Verify the effective date of James Sheehy's retirement (October 6, 2011).
- Confirm Richard Herrin's new dual role as Executive Vice President and Corporate Secretary.
- Review the attached press release (Exhibit 99.1) for additional context on the leadership transition.
- Note that this filing contains no financial performance data; refer to the most recent 10-Q or 10-K for financial metrics.