Business News • MarketWire • First California and Federal Reserve Bank of San Francisco Terminate Informal Agreement |
First California and Federal Reserve Bank of San Francisco Terminate Informal Agreement |
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First California and Federal Reserve Bank of San Francisco Terminate Informal Agreement
WESTLAKE VILLAGE, CA--(Marketwire - January 24, 2011) - First California Financial Group, Inc. (NASDAQ: FCAL), the holding company of First California Bank, today announced the termination of the informal agreement with the Federal Reserve Bank of San Francisco, which commenced on February 1, 2010. The company had agreed, among other things, to obtain regulatory approval before declaring or paying any dividends, making any payments on trust preferred securities or making any other capital distributions. First California complied fully with the agreement and had received approval to pay all dividends on the Series B Preferred Stock and all payments on its trust preferred securities.
View More : http://www.marketwire.com/mw/release.do?id=1384813&sourceType=3
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