Pan Pacific Bank Completes First Phase Capital Raise at $5.0 Million

FREMONT, Calif., Oct. 26, 2011 /PRNewswire/ -- Pan Pacific Bank (the "Bank") (OTCBB: PPFC) announced today that it successfully completed the first phase of its private placement of the Bank's common stock on October 21, 2011.  At the first close 2,517,500 shares of common stock were offered to accredited investors for aggregate gross proceeds of $5,035,000 before expenses.  Shares were offered to certain accredited investors and institutions for $2.00 per share. Pan Pacific anticipates a se...continued PPFC  ach mortgage banks

URL: http://www.investorpoint.com/news/OTCBULLB/45560991/