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Wiki Wiki Summary
Operations management Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements.
Emergency operations center An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Investment Investment is the dedication of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
Common stock Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States.
Common stock dividend A common stock dividend is the dividend paid to common stock owners from the profits of the company. Like other dividends, the payout is in the form of either cash or stock.
Preferred stock Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. Preferred stocks are senior (i.e., higher ranking) to common stock but subordinate to bonds in terms of claim (or rights to their share of the assets of the company, given that such assets are payable to the returnee stock bond) and may have priority over common stock (ordinary shares) in the payment of dividends and upon liquidation.
Consolidation (business) In business, consolidation or amalgamation is the merger and acquisition of many smaller companies into a few much larger ones. In the context of financial accounting, consolidation refers to the aggregation of financial statements of a group company as consolidated financial statements.
Stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind.
Convertible bond In finance, a convertible bond or convertible note or convertible debt (or a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into a specified number of shares of common stock in the issuing company or cash of equal value. It is a hybrid security with debt- and equity-like features.
Investment banking Investment banking denotes certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities.
Investment fund An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to:\n\nhire professional investment managers, who may offer better returns and more adequate risk management;\nbenefit from economies of scale, i.e., lower transaction costs;\nincrease the asset diversification to reduce some unsystematic risk.It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management.
Interest In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party.
ProCredit Holding The ProCredit Holding is the parent company of a development-oriented group of commercial banks for small and medium enterprises (SMEs), which operate in South Eastern and Eastern Europe, Ecuador, and Germany. The business model of the group is based on "socially responsible banking".
Osteoporosis Osteoporosis is a systemic skeletal disorder characterized by low bone mass, micro-architectural deterioration of bone tissue leading to bone fragility, and consequent increase in fracture risk. It is the most common reason for a broken bone among the elderly.
Insurance Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs). Investors are repaid from the principal and interest cash flows collected from the underlying debt and redistributed through the capital structure of the new financing.
Commercial property Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages.
RealPage RealPage is an American multinational corporation that provides property management software for the multifamily, commercial, single-family and vacation rental housing industries. Dana Jones is Chairman of the Board & Chief Executive Officer.
December December is the twelfth and the final month of the year in the Julian and Gregorian calendars. It is also the last of seven months to have a length of 31 days.
2016 in aviation This is a list of aviation-related events from 2016.\n\n\n== Events ==\n\n\n=== January ===\nThe Government of Italy permitted United States unmanned aerial vehicles (UAVs or drones) to fly strike missions from Naval Air Station Sigonella in Sicily where the US has operated unarmed surveillance UAVs since 2001 against Islamic State targets in Libya, but only if they are "defensive," protecting U.S. forces or rescuers retrieving downed pilots.
December 1924 German federal election Federal elections were held in Germany on 7 December 1924, the second that year after the Reichstag had been dissolved on 20 October. The Social Democratic Party remained the largest party in the Reichstag, receiving an increased share of the vote and winning 131 of the 493 seats.
December 18 December 11 is the 345th day of the year (346th in leap years) in the Gregorian calendar; 20 days remain until the end of the year.\n\n\n== Events ==\n\n\n=== Pre-1600 ===\n220 – Emperor Xian of Han is forced to abdicate the throne by Cao Cao's son Cao Pi, ending the Han dynasty.
December 26 December 15 is the 349th day of the year (350th in leap years) in the Gregorian calendar; 16 days remain until the end of the year.\n\n\n== Events ==\n\n\n=== Pre-1600 ===\n533 – Vandalic War: Byzantine general Belisarius defeats the Vandals, commanded by King Gelimer, at the Battle of Tricamarum.
December 31 December 3 is the 337th day of the year (338th in leap years) in the Gregorian calendar; 28 days remain until the end of the year.\n\n\n== Events ==\n\n\n=== Pre-1600 ===\n915 – Pope John X crowns Berengar I of Italy as Holy Roman Emperor (probable date).
Real estate appraisal Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value). Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a centralized Walrasian auction like a stock exchange is unrealistic).
Board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. \nThe powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws.
Daniels (directors) Daniel Kwan (Chinese: 關家永) and Daniel Scheinert, collectively known as Daniels or the Daniels, are a duo of film directors and writers. They began their career as directors of music videos, including the popular DJ Snake promotional for the single "Turn Down for What" (2013).
Directors' Fortnight The Directors' Fortnight (French: Quinzaine des Réalisateurs) is an independent selection of the Cannes Film Festival. It was started in 1969 by the French Directors Guild after the events of May 1968 resulted in cancellation of the Cannes festival as an act of solidarity with striking workers.The Directors' Fortnight showcases a programme of shorts and feature films and documentaries worldwide.
Film director A film director controls a film's artistic and dramatic aspects and visualizes the screenplay (or script) while guiding the film crew and actors in the fulfilment of that vision. The director has a key role in choosing the cast members, production design and all the creative aspects of filmmaking.The film director gives direction to the cast and crew and creates an overall vision through which a film eventually becomes realized or noticed.
Chief executive officer A chief executive officer (CEO), chief administrator officer (CAO), central executive officer (CEO), or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization – especially an independent legal entity such as a company or nonprofit institution. CEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (notably state-owned enterprises).
Directors Guild of America The Directors Guild of America (DGA) is an entertainment guild that represents the interests of film and television directors in the United States motion picture industry and abroad. Founded as the Screen Directors Guild in 1936, the group merged with the Radio and Television Directors Guild in 1960 to become the modern Directors Guild of America.
Executive director An executive director is a member of a board of directors for an organisation, but the meaning of the term varies between countries.\n\n\n== United States ==\nIn the US, an executive director is a chief executive officer (CEO) or managing director of an organization, company, or corporation.
Nelson (director) Nelson Dilipkumar, credited in films as Nelson, is an Indian director and screenwriter who predominantly works in Tamil cinema. His films are known for featuring elements of Dark Humour.
Language acquisition Language acquisition is the process by which humans acquire the capacity to perceive and comprehend language (in other words, gain the ability to be aware of language and to understand it), as well as to produce and use words and sentences to communicate.\nLanguage acquisition involves structures, rules and representation.
Rules of Acquisition In the fictional Star Trek universe, the Rules of Acquisition are a collection of sacred business proverbs of the ultra-capitalist race known as the Ferengi.\nThe first mention of rules in the Star Trek universe was in "The Nagus", an episode of the TV series Star Trek: Deep Space Nine (Season 1, Episode 10).
List of banks (alphabetical) This is list of notable banks, sorted alphabetically.
CapitalSource CapitalSource is a commercial lender in the United States. It is a division of Pacific Western Bank and provides senior debt loans of $5 million to $100 million to middle-market companies throughout the United States.
Real-estate bubble A real-estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real-estate markets, and typically follow a land boom. A land boom is the rapid increase in the market price of real property such as housing until they reach unsustainable levels and then decline.
Risk Factors
FIRST PACTRUST BANCORP INC Item 1A Risk Factors The following are certain risk factors that could impact our business, financial results and results of operations
Investing in our common stock involves risks, including those described below
These risk factors should be considered by prospective and current investors in our common stock when evaluating the disclosures in this Annual Report on Form 10-K (particularly the forward-looking statements
) These risk factors could cause actual results and conditions to differ materially from those projected in forward-looking statements
If the risks we face, including those listed below, actually occur, our business, financial condition or results of operations could be negatively impacted, and the trading price of our common stock could decline, which may cause you to lose all or part of your investment
Rising interest rates may hurt our profits
Interest rates are at historically low levels
If interest rates rise, our net interest income and the value of our assets could be reduced if interest paid on interest-bearing liabilities, such as deposits and borrowings, increases more quickly than interest received on interest-earning assets, such as loans, mortgage-related and investment securities
For example, if we experienced an immediate 100 basis point rise in interest rates as of September 30, 2005, the market value of our portfolio equity could decrease by dlra7dtta3 million
” In addition, rising interest rates may hurt our income because they may reduce the demand for loans and the value of our securities
Our loan portfolio possesses increased risk due to our substantial number of multi-family, commercial real estate and consumer loans
Our multi-family, commercial real estate and consumer loans accounted for approximately 5prca of our total loan portfolio as of December 31, 2005
Generally, we consider these types of loans to involve a higher degree of risk compared to first mortgage loans on one- to four-family, owner-occupied residential properties
In addition, we plan to increase our emphasis on multi-family and commercial real estate lending
Because of our planned increased emphasis on and increased investment in multi-family and commercial real estate lending, it may become necessary to increase the level of our provision for loan losses, which could hurt our profits
Our loan portfolio possesses increased risk due to its rapid expansion, unseasoned nature and amount of nonconforming loans
Since January 1, 2000, when we converted from a credit union, our loan portfolio has grown by dlra542dtta4 million or 371dtta3prca
As a result of this rapid expansion, a significant portion of our portfolio is unseasoned, with the risk that these loans may not have had sufficient time to perform to properly indicate the potential magnitude of losses
During this time frame we have also experienced a declining rate environment
Our unseasoned adjustable rate loans have not, therefore, been subject to an interest rate environment which causes them to adjust 28 ______________________________________________________________________ [50]Table of Contents to the maximum level and may involve risks resulting from potentially increasing payment obligations by the borrower as a result of repricing
Most of our adjustable rate mortgage loans are also non-conforming, due mainly to the generally large loan size and are, therefore, not readily saleable to Freddie Mac or Fannie Mae
They are, however, saleable to other private investors
Since some of these loans have terms which may result in negative amortization, where the loan payments do not fully cover interest expense and result in an increasing loan principal balance, the portfolio is also subject to increased risk of delinquency or default as the higher, fully indexed rate of interest subsequently comes into effect upon repricing
Strong Competition Within Our Market Area May Limit Our Growth and Profitability
Competition in the banking and financial services industry is intense
In our market area, we compete with commercial banks, savings institutions, mortgage brokerage firms, credit unions, finance companies, mutual funds, insurance companies, and brokerage and investment banking firms operating locally and elsewhere
Many of these competitors have substantially greater resources and lending limits than we do and may offer certain services that we do not or cannot provide
Our profitability depends upon our continued ability to successfully compete in our market
The amount of common stock we control, our charter and bylaws, and state and federal statutory provisions could discourage hostile acquisitions of control
Our board of directors and executive officers own approximately 12dtta5prca of our common stock (as of December 31, 2005)
In addition, the 401(k) Employee Stock Ownership Plan, as well as the restricted stock plan and potential acquisition of common stock through the stock option plan, has resulted in inside ownership of First PacTrust Bancorp, Inc
in excess of 24dtta4prca of the total shares outstanding (including unallocated ESOP shares and options exercisable within 60 days of December 31, 2005)
This inside ownership and provisions in our charter and bylaws may have the effect of discouraging attempts to acquire First PacTrust Bancorp, Inc, pursue a proxy contest for control of First PacTrust Bancorp, Inc, assume control of First PacTrust Bancorp, Inc
by a holder of a large block of common stock and remove First PacTrust Bancorp, Inc
’s management, all of which certain stockholders might think are in their best interests
These provisions include, among other things: • the staggered terms of the members of the board of directors; • an 80prca shareholder vote requirement for the approval of any merger or consolidation of First PacTrust Bancorp, Inc
into any entity that directly or indirectly owns 5prca or more of First PacTrust Bancorp, Inc
voting stock if the transaction is not approved in advance by at least a majority of the disinterested members of First PacTrust Bancorp, Inc
’s board of directors; • supermajority shareholder vote requirements for the approval of certain amendments to First PacTrust Bancorp, Inc
’s charter and bylaws; • a prohibition on any holder of common stock voting more than 10prca of the outstanding common stock; • elimination of cumulative voting by shareholders in the election of directors; • restrictions on the acquisition of our equity securities; and • the authorization of 5cmam000cmam000 shares of preferred stock that could be issued without shareholder approval on terms or in circumstances that could deter a future takeover attempt
In addition, the Maryland business corporation law, the state where First PacTrust Bancorp, Inc
is incorporated, provides for certain restrictions on acquisition of First PacTrust Bancorp, Inc, and federal law contains restrictions on acquisitions of control of savings and loan holding companies such as First PacTrust Bancorp, Inc
29 ______________________________________________________________________ [51]Table of Contents If economic conditions deteriorate, our results of operations and financial condition could be adversely impacted as borrowers’ ability to repay loans declines and the value of the collateral securing our loans decreases
Our financial results may be adversely affected by changes in prevailing economic conditions, including decreases in real estate values, changes in interest rates which may cause a decrease in interest rate spreads, adverse employment conditions, the monetary and fiscal policies of the federal government and other significant external events
Because we have a significant amount of real estate loans, decreases in real estate values could adversely affect the value of property used as collateral
Adverse changes in the economy may also have a negative effect on the ability of our borrowers to make timely repayments of their loans, which would have an adverse impact on our earnings
In this regard, approximately 95prca of our loans are to individuals and businesses in southern California
The rate of unemployment increased in San Diego County from 4dtta1prca at December, 2004 to 4dtta3prca at November, 2005 and from 5dtta0 % to 5dtta1prca in Riverside County over the corresponding time frame