First Pactrust Bancorp, Inc. (NASDAQ:FPTB)
FPTB, the holding company for Pacific Trust Bank recently announced that it has received an investment of $32.0 million in the Company's preferred stock from the United States Department of the Treasury under the Small Business Lending Fund (the SBLF). The SBLF is a $30 billion voluntary program intended to encourage small business lending by providing capital to qualified community banks at favorable rates.
As of June 30, 2011, the Company had consolidated total assets of $882.3 million and stockholders' equity of $160.5 million. The Company's book value per share was $13.91 as of June 30, 2011, based upon 11,520,067 shares of common stock outstanding as of that date.
First PacTrust Bancorp, Inc. is the parent holding company of Pacific Trust Bank and is headquartered in Chula Vista, California. The Bank currently operates through 11 banking offices serving primarily San Diego and Riverside Counties in California. The Bank provides customers with the convenience of banking at more than 4,300 branch locations throughout the United States as part of the CU Services Network and 28,000 fee-free ATM locations through the CO-OP ATM Network.
For more information about First PacTrust Bancorp, Inc. please visit http://www.firstpactrustbancorp.com
Cleantech Transit, Inc. (CLNO.OB)
CLNO is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech Transit, Inc. has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as we move ahead.
In addition, the 500 KW biomass gasification facility located in Merced, California that Cleantech Transit, Inc. previously reported has successfully passed its interconnection tests and is now connected to the utility distribution grid.
The Merced plant is expected to produce enough electricity to power about 400 homes. The plant connected to the electricity grid under California's feed-in-tariff with a 15-year power purchase agreement.
Phoenix Energy is an owner/operator of small-scale distributed energy plants that produce electricity, heat and biochar in partnership with businesses in the Ag, forestry and urban biomass sectors.
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