The major shareholder in the San Francisco Co., holding company for the Bank of San Francisco, invested the first tranche of an expected $4.5 million in new capital for the company.

Putra Masagung, an Indonesion businessman and investor, bought Friday $1 million of new Series D preferred shares convertible into Class A common at about 34 cents a share, the company said. Mr. Masagung last year agreed to invest the $4.5 million in phases this year so the bank could comply with capital requirements imposed by regulators.

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