AltaPacific Bancorp fka ABNK

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AltaPacific Bancorp Announces Share Repurchase Program

AltaPacific Bancorp (OTCBB:ABNK), the parent company of AltaPacific Bank, today announced that its Board of Directors has authorized the repurchase of up to $1 million dollars of its outstanding common shares through April 30, 2013.

Purchases made pursuant to the program will be made in either the open market or in privately negotiated transactions from time to time as permitted by federal securities laws and other legal requirements. The timing, manner, price and amount of any repurchase will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The program may be suspended or discontinued at any time.

Charles O. Hall, President and Chief Executive Officer, commented, “The primary role of the repurchase program is to provide a tool to assist with the management of the Company's capital position, while also providing liquidity for shareholders.” Continuing, Mr. Hall stated, “This announcement also demonstrates the Board's confidence in the Company's strategy, growth opportunities and financial strength.”

About AltaPacific Bancorp and AltaPacific Bank:

AltaPacific Bancorp is the parent company for AltaPacific Bank. The Company’s stock trades over the counter under the symbol ABNK. AltaPacific Bank is an independent business bank headquartered in Santa Rosa, California and has offices in Santa Rosa, Rancho Cucamonga and Covina, California. The bank is focused on meeting the specialized needs of small to medium-sized businesses and professionals throughout California. For additional information, please contact us at [phone] or online at www.apbconnect.com.

http://ih.advfn.com/p.php?pid=nmona&article=52295968

* I do not own shares of ABNK at this time.