Investors
June 30, 2010 09:00 PM Pacific Daylight Time
Golden Pacific Bank Opens in Downtown Sacramento
Sacramento Calif., - July 1, 2010 As part of their vision to Bring Community Banking to Downtown Sacramento, Golden Pacific Bank, a subsidiary of Golden Pacific Bancorp, opens its first branch in Sacramento at 980 9th Street, at the corner of 9th and J Street on Thursday, July 1, 2010. Located in the Park Tower building, the Golden Pacific Bank lobby offers views of Cesar Chavez Plaza and is primed to serve the entire Downtown Sacramento area.
The Downtown Sacramento branch will feature:
- Complete suite of business and personal financial services solutions
- Convenient location- easy access from both 9th and J Streets
- Validated parking- customers will be able to complete their banking transactions and receive validation from the Park Tower parking garage
- Financial education and insight- Golden Pacific Bank will offer instruction and demonstrations for customers on all bank products
- Community room access- Golden Pacific Bank’s “Community Room” offers a place for the public hold meetings with free Wi-Fi access
- Full mortgage department onsite- Golden Pacific’s lending team is located in the Sacramento branch to offer insight and solutions for residential mortgage needs
In the next 24 months, the Sacramento branch of Golden Pacific Bank and the entire Golden Pacific Bancorp network of banks anticipate lending in excess of $150 million in new commercial and residential loans. As a result, the Sacramento branch of Golden Pacific Bank is well positioned to serve the greater Sacramento area with custom financial solutions.
“Right now, many banks are preserving their capital, limiting the amount they will lend. This is affecting both small businesses, which rely on credit lines to maintain operations, and homebuyers who are having a hard time obtaining a mortgage,” said Golden Pacific Bank President Roy Malone. “This creates a great opportunity for us to step in and meet the needs of healthy businesses and qualified customers.”
The new branch is part of Golden Pacific Bancorp’s network of community banks that also includes 5 Gold Country Bank branches located in Yuba, Sutter, and Butte counties.
About Golden Pacific Bancorp
Golden Pacific Bancorp is a bank holding company headquartered in Sacramento, CA. Golden Pacific Bank is a division of Gold Country Bank and is wholly owned by Golden Pacific Bancorp. Gold Country Bank operates 6 branches in Yuba, Sutter, Butte, and Sacramento counties and has a 24 year history of community banking in Northern California.
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This press release contains statements which constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve the anticipated development and expansion of our business, and our intent, belief or current expectations, and that of our directors or our officers. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, our performance and implementation of our business plans, loan performance, interest rates, and regulatory matters.
May 04, 2010 04:00 PM Eastern Daylight Time
Golden Pacific Bancorp, Inc. Completes Acquisition of Gold Country Financial Services, Inc. and Gold Country Bank N.A.
SACRAMENTO, Calif.-- (BUSINESS WIRE)-- Golden Pacific Bancorp, Inc., formed for the purpose of creating a statewide network of community banks in California, received approval from the Board of Governors of the Federal Reserve System on April 15, 2010, to become a bank holding company by acquiring Gold Country Financial Services, Inc, and indirectly Gold Country Bank N.A., both of Marysville CA., pursuant to section 3(a)(1) of the Bank Holding Company Act of 1956.
On April 30, 2010, Golden Pacific Bancorp, Inc. successfully closed an all-stock merger with Gold Country Financial Services, Inc., the parent company of Gold Country Bank N.A., headquartered in Marysville, California, in accordance with the regulators’ approval and the Agreement and Plan of Reorganization and Merger by and among Gold Country Financial Services, Inc. and Golden Pacific Bancorp, Inc. dated August 6, 2009. The merger is expected to become effective upon filing with the California Secretary of State on May 3, 2010. Per the agreement, Golden Pacific Bancorp, Inc. will inject $10 million of new capital into Gold Country Bank and open a new branch located at 980 9th Street, Sacramento. The new branch is scheduled to open in June and will operate under the name of Golden Pacific Bank.
Gold Country Bank will ultimately operate as a fictitious business name of Golden Pacific Bank.
“With roughly $100 million in assets and 5 branches throughout Butte, Sutter and Yuba counties, this acquisition marks an exciting first step in our plan to create a multi-bank holding company that focuses on the customer, and partners with small to medium sized businesses that operate in our region. We intend to grow Golden Pacific Bancorp via prudent bank acquisitions and organically developing our bank franchises, while maintaining the local brand and culture of excellent customer service. This strategy allows us to increase existing bank products and services while improving efficiencies through technology and centralized operations," stated Kirk Dowdell, CEO of Golden Pacific Bancorp, Inc.
This acquisition will provide existing Gold Country Bank customers access to new products and lending opportunities, including residential and small business lending, treasury management services, and enhanced online banking.
"We are extremely fortunate to acquire an organization that has an excellent footprint, a great reputation in the community, and exceptional staff who have a history of delivering quality service. This merger will contribute a significant economic impact in the region. With an infusion of new capital, we anticipate lending in excess of $100 million in new loans over the next few years. We are excited to serve main street businesses and their customers with custom financial solutions," stated Roy Malone, President of Golden Pacific Bancorp, Inc.
This press release contains statements which constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve the anticipated development and expansion of our business, and our intent, belief or current expectations, and that of our directors or our officers. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, our performance and implementation of our business plans, loan performance, interest rates, and regulatory matters.
If interested in becoming a shareholder, please contact:
Kirk Dowdell
Golden Pacific Bancorp
Chief Executive Officer
916-414-0680
kdowdell@goldenpacificbancorp.comRoy Malone
Golden Pacific Bancorp
President
916-414-0679
rmalone@goldenpacificbancorp.comLynn Baker
Gold Country Bank
Vice President
Assistant Corporate Secretary/Human Resources
530-740-7224
lbaker@goldcountrynb.com
