First California Completes Stock Offering

First California Financial Group Inc., the holding company of First California Bank, raised $41.4 million from a sale of its common stock. The company sold 16,560,000 shares at a price of $2.50 per share, which included the exercise by the underwriter of its over-allotment option. “This successful transaction represents a strong vote of confidence for First California’s sustainability and prosperity,” said C. G. Kum, president and CEO. “In addition to further strengthening our capital position to protect against an uncertain economy, this transaction provides flexibility for expansion through new growth opportunities, whether organic or acquisitive.”