For Immediate Release
November 24, 2008
VIST
Financial Receives Treasury Approval to Participate in the Capital Purchase
Program
WYOMISSING, Pa. 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 Departments 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
Companys 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 Companys 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.
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.