Business Context and Reporting Period
This Form 8-K is a current report filed by First PacTrust Bancorp, Inc. (not BANC OF CALIFORNIA, INC. as indicated in metadata) on June 14, 2011. The filing reports a corporate governance event regarding the departure of a director.
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 performance data.
Material Changes
On June 14, 2011, Donald A. Whitacre resigned as a director of First PacTrust Bancorp, Inc. The filing states there were no disagreements regarding the Company's operations, policies, or practices. Mr. Whitacre will continue to serve as a director of the Company's subsidiary, Pacific Trust Bank. Independent director Jeffrey Seabold is expected to be appointed to replace Mr. Whitacre on the Audit Committee.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on financial performance, or discussion of risks and contingencies beyond the specific event of the director's resignation.
Key Facts for Investor Verification
- Donald A. Whitacre resigned as a director of First PacTrust Bancorp, Inc. on June 14, 2011.
- Mr. Whitacre remains a director of the subsidiary, Pacific Trust Bank.
- Jeffrey Seabold is expected to replace Mr. Whitacre on the Audit Committee.
- The resignation was not due to any disagreement with the Company.