Pacific Capital Bancorp Announces Planned Sale of Refund Anticipation Loan and Refund Transfer Businesses

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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 (“RAL”) and Refund Transfer (“RT”) 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 to sell the Tax Division

Tags: Capital, community-bank, Division, Financial, ongoing-efforts, Refund, refund-transfer, sell-its, sell-the-tax, strengthen-its, tax-products, today-announced

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Pacific Capital Bancorp Announces Planned Sale of Refund Anticipation Loan and Refund Transfer Businesses

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