Capital Corp of the West issued a warning that if it is unable to raise capital, its ability to continue as a going concern could be impaired.
In filings made with the Securities and Exchange Commission this week, the bank holding company updated its "safe harbor" statements, which offer guidance about the risks related to forward-looking statements made by the company.
Capital Corp warned that factors that "may cause future performance to vary significantly from current expectations" include the company's ability to remain a going concern "if it is unable to raise capital."
The company announced on Wednesday that it plans to apply for the Treasury Department's TARP Capital Purchase Program. If its application is approved, the company said, it could sell up to $46 million of senior preferred stock to the government under certain circumstances.
Shares of the Merced, Calif., company closed Thursday at $1.98, down six cents.