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Pacific Cap May Sell Tax Unit to PE Fund
3 hours ago ago from PE Hub News: All News
(Reuters) - Loss-making lender Pacific Capital Bancorp ( PCBC.O ) signed a letter of intent to sell its tax division to a private equity fund, as the company seeks to improve its depressed capital levels. The tax division, or the e-filing financial services division, offers refund anticipation loans and refund transfer tax products, the Santa Barbara, California-based company said in a statement. Pacific Capital expects to sign a ...
Related contentPacific Capital Bancorp Announces Planned Sale of Refund Anticipation Loan and Refund Transfer Businesses
4 hours ago ago from The Santa Barbara 10 - Top Ten Lists of the Best Restaurants, Businesses, Services, and Everything Else You Can Imagine in Santa Barbara, CA
SANTA BARBARA, Calif. (BUSINESS WIRE) Pacific Capital Bancorp (Nasdaq: PCBC), a community bank holding company, today announced that it plans to sell its E-Filing Financial Services Division (the Tax Division ) that offers Refund Anticipation Loan ( ) and Refund Transfer ( ) tax products as part of the Company's ongoing efforts to strengthen its capital ratios. The Company has signed a non-binding letter of intent with a private equity firm ...
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