FC Financial definition
Examples of FC Financial in a sentence
Through its subsidiary FC Financial, First National Bank provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas.
NATURE OF OPERATIONS AND CONTINUANCE OF BUSINESS FC Financial Services, Inc.
FC Financial is an asset-based lender and factoring company with 40 employees and lending production offices in Phoenix, Arizona, Los Angeles and Orange, California, and Houston and Dallas, Texas.
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Immediately following the completion of the acquisition, it is anticipated that FC Financial will become an operating subsidiary of First National Bank, a wholly-owned subsidiary of First Community Bancorp headquartered in San Diego, California.
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With 25% of FC Financial’s business already located in Southern California, we expect our branch network and referral ability to further stimulate FC Financial’s growth.” ▇▇▇▇▇ ▇▇▇▇▇▇▇, President and CEO of FC Financial commented, “We have had a relationship with First Community Bancorp for several years, and this transaction is the culmination of our efforts in cultivating that relationship.
As of December 31, 2003, on a pro forma consolidated basis with Harbor and FC Financial, First Community would have approximately $2.7 billion in assets with 35 branches throughout Southern California.
First Community Bancorp (Nasdaq: FCBP) today announced the signing of a definitive agreement to acquire for $40 million in cash all of the outstanding common stock and options of First Community Financial Corp., or FC Financial, a privately-held commercial finance company based in Phoenix, Arizona with approximately $80 million in assets as of December 31, 2003.
We are very enthusiastic about the opportunities that lie ahead for FC Financial as a part of First Community Bancorp and First National Bank and our employees and executive team are excited to join such a terrific organization.” First Community also announced today that it has received proceeds of $59.7 million from a $60.0 million participation in a pooled trust preferred stock offering.