VIST Financial Receives Treasury Approval to Participate in the Capital Purchase Program
November 24 2008 - 9:14AM
PR Newswire (US)
WYOMISSING, Pa., Nov. 24 /PRNewswire-FirstCall/ -- VIST Financial
Corp. (NASDAQ:VIST) announced today that the US Treasury granted
preliminary approval to VIST for $25 million in capital as part of
the U.S. Treasury Department's Capital Purchase Program. "We
believe that participation in the Capital Purchase Program, which
is targeted to qualifying financial institutions, is in the best
interest of our shareholders," said Robert D. Davis, President and
Chief Executive Officer, VIST Financial. "While we are
well-capitalized at the bank and holding company levels, the $25
million which is a low-cost option for generating capital, will
further strengthen our balance sheet, fund future growth
opportunities within our core banking and fee-based businesses and
support our current operations," he added. Under the Capital
Purchase Program, the Department of the Treasury plans to purchase
up to $250 billion of senior preferred shares on a voluntary basis
as part of an overall initiative to encourage U.S. financial
institutions to build capital to increase the flow of financing to
U.S. businesses and consumers and support the U.S. economy. VIST
Financial is a diversified financial services company headquartered
in Wyomissing, PA, offering banking, insurance, investments, wealth
management, and title insurance services throughout Berks, Southern
Schuylkill, Montgomery, Delaware, and Philadelphia Counties. This
release may contain forward-looking statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, estimates, and intentions that are subject to
significant risks and uncertainties, and are subject to change
based on various factors, some of which are beyond the Company's
control. The Company does not undertake to update any
forward-looking statement, whether written or oral, that may be
made from time to time by or on behalf of the Company. DATASOURCE:
VIST Financial Corp. CONTACT: Robert D. Davis, President and Chief
Executive Officer, +1-610-603-7212, or Edward C. Barrett, Executive
Vice President & Chief Financial Officer, +1-610-603-7251, both
of VIST Financial Corp. Web site: http://www.vistfc.com/
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