LOS ANGELES--(BUSINESS WIRE)--
Pacific City Financial Corporation (OTC Pink: PFCF), the holding company
of Pacific City Bank, today announced that its Board of Directors of the
Company declared a ten percent (10%) stock dividend on the Company’s
common stock. The stock dividend is payable on or about January 17, 2017
(the “Payable Date”) to common shareholder of record on December 30,
2016 (the “Record Date”). In accordance with Section 407 of the
California Corporations Code, the Company shall pay in cash the fair
value of fractions of a share as of the Record Date to the respective
shareholders who are otherwise entitled to a fractional share in lieu of
such fractional share.
“We are pleased to declare our third 10% stock dividend in as many years
in addition to cash dividends we have been paying as part of our ongoing
efforts to benefit our shareholder. We continue to be committed in
diligently managing of our capital for the long-term benefit of our
shareholders,” said Haeyoung Cho, President and CEO.
About Pacific City Financial Corporation
Headquartered in Los Angeles, California, Pacific City Financial
Corporation is the parent company of Pacific City Bank, a full-service
commercial bank with twelve branch offices and eight loan production
offices in Lynwood and Bellevue, Washington; Denver, Colorado; Chicago,
Illinois; Annandale, Virginia; Atlanta, Georgia; Orange County,
California; and Bayside, New York. Pacific City Bank specializes in
commercial banking for small to medium-size businesses by providing
commercial real estate loans, small business loans and lines of credit,
trade finance loans, auto loans, residential mortgage loans, and SBA
loans. Pacific City Bank serves a diverse customer base through its
branches in the Greater Los Angeles Area and Fort Lee, New Jersey and
its Loan Production Offices in seven States.
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Pacific City Financial Corporation
Timothy Chang
Executive
Vice President & Chief Financial Officer
213-210-2000
Source: Pacific City Financial Corporation