PFF Bancorp's stock dropped almost 10 percent to close at $1.18 on Monday afternoon -- 97 percent lower than it was valued in the summer of 2006.

Could shares of the Rancho Cucamonga-based holding company drop to 99 cents?

"It's certainly headed in that direction," said Joseph Gladue, banking analyst with Los Angeles-based Riley & Company, Inc. "It's not that far from it, in dollar terms."

However, a proposed $460 million capital infusion may boost investor optimism and keep PFF's stock from hitting the $1 mark.

Details haven't been disclosed on the potential deal, but shareholders would be required to approve an increase in the number of common stock shares issued.

The bank has until June 16 to pay off a $44 million overdue loan from an undisclosed lender.

A boost of capital would help pay for this, and it might return the bank's position with the Federal Reserve from "well capitalized" to "above well capitalized."

"They're under some time pressure to get their capital raised by the 16th," Gladue said.

PFF wrote off millions of dollars in loan losses over the last couple of quarters because it loaned money to housing developers who can't repay what they borrowed.

PFF Bancorp is the holding company for Pomona First Federal Bank & Trust, a 116-year-old institution.