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First Coastal Capital Trust, 11 7/8% Cumul Trust Preferred Securities
Ticker Symbol: FCSTO* CUSIP: 31969P405 Exchange: OTCBB
* NOTE: This security is no longer trading as of 6/25/2007
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QUANTUMONLINE.COM SECURITY DESCRIPTION: First Coastal Capital Trust, 11 7/8% Cumulative Trust Preferred Securities, offering price $20 per share, guaranteed by First Coastal Bancshares (OTCBB: FCLA), redeemable at the issuer's option on or after 12/31/2001 at $21.60 per share declining to $20 by 12/31/2004 (see schedule on page 7 of the prospectus), plus accrued and unpaid dividends, maturing 12/31/2028, distributions of 11 7/8% ($2.375) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15th day prior to the payment date. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 11 7/8% Junior Subordinated Deferrable Interest Debentures due 12/31/2028 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (FCST)
Notes: June 25, 2007. (NASDAQ:CVBF) Christopher D. Myers, President and Chief Executive Officer of CVB Financial Corp. and its principal subsidiary, Citizens Business Bank, reported that their previously announced merger with First Coastal Bank, N.A. has been completed. The definitive agreement provides that each outstanding share of First Coastal Bancshares will be converted into $276.73 in cash or $276.73 in value of CVB Financial Corp. common stock (based on a volume weighted average trading price for a period of 20 trading days prior to consummation of the merger) at the election of First Coastal Bancshares shareholders. The total purchase price of approximately $35 million will be paid half in cash and half in CVB Financial Corp. stock.
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IPO - 3/3/1999 - 300,000 Shares @ $20.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: FCLAO Changed: 7/08/2003
Market Value $4.7 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 275 Main Street, El Segundo, CA 90245 |
| Main Phone Number |
888-296-2250 |
| Fax Number |
310-322-2411 |
| Investor Contact (COO)
Deborah Marsten
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888-296-2250
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| Toll Free Phone Number |
888-296-2250 |
| CEO - Don M. Griffith |
COO - Deborah A. Marsten |
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