1st Pacific Bank of California Top CDC Small Business Finance Lender Among San Diego-Based Banks; Ranking Solidifies Bank's Emergence as Major Local SBA Lender.Business Editors SAN DIEGO--(BUSINESS WIRE)--May 12, 2003 1st Pacific Bank of California The Bank of California was founded in San Francisco, California on July 5, 1864 by William Chapman Ralston. It was the first commercial bank in the Western United States, the second-richest bank in the nation, and considered instrumental in developing the American Old West. (1st Pacific Bank) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FPBS FPBS Florida Public Broadcasting Service FPBS Federação Portuguesa de Basebol e Softbol FPBS Florida Property and Business Solutions, LLC (Cocoa Beach, FL and West Sussex, UK) ) today announced that CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation Small Business Finance has named it the top-ranked community bank lender for SBA 504 loans within the San Diego district. This ranking was based on the total number of loan approvals from the period Oct. 1, 2002, through March 31, 2003. In January of this year, 1st Pacific Bank was honored by the CDC as one of the top "emerging SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government 504 lenders" in the San Diego district for the year 2002. Based on the number of total loans approved for the six months ending March 31, 2003, 1st Pacific Bank was the 4th largest community bank lender for SBA. "Since we started in SBA lending from a base of zero not much more than two years ago, our performance has certainly been gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. " stated Ron Perry, senior vice president and manager of the Bank's SBA Department. "The key for us has been the ability of our staff to utilize SBA loans as part of a totally integrated banking solution for our business and professional clients. We're not only growing our SBA loan portfolio but contributing to the overall growth of the Bank in other areas as well." CDC Small Business Finance is a not-for-profit organization working in partnership with the U.S. Small Business Administration and SBA lenders to promote local economic development, primarily through SBA 504 loan financing. In addition to the SBA 504 loan program, 1st Pacific Bank offers SBA 7(a) loans, commercial real estate loans and other forms of conventional financing. About 1st Pacific Bank of California 1st Pacific Bank is a San Diego-based, locally owned and operated financial institution with over $100 million in assets. The bank offers a full complement of business, personal and online banking products and services. Offices are located on Regents Road in the Golden Triangle area of La Jolla, Calif. and in the Tri-Cities area of Oceanside, Calif. on College Boulevard. For more information visit our Web site at www.1stpacbank.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Certain statements in this press release, including statements regarding the anticipated development and expansion of the company's business, and the intent, belief or current expectations of the company, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. |
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