PSBC Pacific State Bancorp (CE)

0.0002

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Share Name	Share Symbol	Market	Type
Pacific State Bancorp (CE)	USOTC:PSBC	OTCMarkets	Common Stock

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	0.0002						0.00	00:00:00

Fed Orders Pacific State, Mercantile Bancorps To Boost Capital

24/02/2010 4:31pm

Dow Jones News

Pacific State Bancorp (CE) (USOTC:PSBC)
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In separate enforcement actions released Wednesday, the U.S. Federal Reserve is ordering Stockton, Calif.-based Pacific State Bancorp (PSBC) and Quincy, Ill-based Mercantile Bancorp (MBR) to submit plans aimed at maintaining sufficient capital.

The Fed also is prohibiting both companies from paying dividends or issuing new debt without its prior approval.

Additionally, the Fed is requiring Pacific State to submit a plan to strengthen its management of credit risk and to submit a business plan aimed at boosting the bank's earnings and overall financial condition.

-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629; meena.thiruvengadam@dowjones.com