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Where is the Money?

Eye on the Bailout

Companies » Bank (Public)

Pacific Capital Bancorp

$195,045,000
Committed
1.2%
of Bank bailout commitment
0.1% >
of total bailout commitment.
Disbursed $195,045,000
Returned $0
Revenue to Gov't $2,107,396
Net Outstanding $192,937,604

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Map: Corporate headquarters of Pacific Capital Bancorp.
Santa Barbara, Calif.
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On 8/31/2010, following the completion of the conditions related to Pacific Capital Bancorp's (Pacific Capital) capital plan, Treasury exchanged its $180,634,000 of Preferred Stock in Pacific Capital for $195,045,000 of Mandatorily Convertible Preferred Stock (MCP), which is equivalent to the initial investment amount of $180,634,000, plus $14,411,000 of
capitalized previously accrued and unpaid dividends. Subject to the fulfillment by Pacific Capital of certain conditions, including regulatory approval and the completion of an increase in authorized shares available for conversion, the MCP may be subject to early conversion into common stock at the option of Pacific Capital on or before 4/26/2011, and
otherwise in accordance with the terms of the MCP.

Events

  • $2M Revenue

    May 31, 2009 Dividends Paid Through 5/31/2009

    This amount reflects the sum of dividends paid up to 5/31/2009

    Part of Capital Purchase Program
  • $195M Bailout

    Nov. 21, 2008 Purchase - Preferred Stock w/ Warrants

    This amount changed due to Treasury's exchange of preferred stock for common stock. See note to the right.

    Part of Capital Purchase Program
    More info from www.financialstability.gov

Date Type Amount Program Description
05/31/2009 Dividend $2,107,397 CPP Dividends Paid Through 5/31/2009
11/21/2008 Purchase $195,045,000 CPP Purchase - Preferred Stock w/ Warrants

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