DALLAS, March 19, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Pacific Capital Bancorp (Nasdaq:PCBC). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/PCBC
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Pacific Capital Bancorp (PCBC) is a community bank holding company providing full service banking, including consumer and commercial lending, trust and investment advisory services, and other consumer and business banking products through its subsidiaries' retail branches, commercial and wealth management centers, and other distribution channels to consumers and businesses primarily located in the central coast of California. PCBC has five wholly owned subsidiaries, Pacific Capital Bank, National Association (the Bank or PCBNA), a banking subsidiary and four unconsolidated subsidiaries. The Company operates in three segments: Community Banking, Commercial Banking and Wealth Management. In January 2010, the Company announced that it has completed the sale of its Refund Anticipation Loan (RAL) and Refund Transfer (RT) businesses (together, the Tax Division) to Santa Barbara Tax Products Group LLC.
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In the report, the analyst notes:
"The Company's net loss for the fourth quarter of 2009 was ($20.0) million, or ($0.43) per common share, compared to a net loss of ($42.9) million, or ($0.92) per common share, in the same period of the prior year.
"PCBC recently announced that Frederick W. Clough, 66, will retire as executive vice president and general counsel of the Company and its wholly owned subsidiary, Pacific Capital Bank, N.A., effective March 31, 2010. Clough will continue to serve the Company as a consultant. Clough joined PCBC in February 2001 from his position as Managing Partner of the Santa Barbara law firm of Reicker, Clough, Pfau, Pyle, McRoy & Herman, LLP, which he and his partners established in July 1996."
To read the entire report visit: http://www.stockpreacher.com/n/PCBC
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