SOURCE: First California Financial Group

December 21, 2007 16:00 ET

First California Selects New Headquarters Location

LOS ANGELES, CA--(Marketwire - December 21, 2007) - First California Financial Group, Inc. (NASDAQ: FCAL) announced that its bank subsidiary, First California Bank, has signed a 10-year lease agreement for 22,000 square feet of office space for its headquarters in the Westlake Park Place, 3057 Townsgate Road, in Westlake Village, Cal. Following the March 2007 merger of three banks that created First California Financial, the company has been looking for an optimal headquarters facility. The building leased by First California is scheduled for completion in first quarter 2008.

"The new headquarters will enable us to centralize a number of operations and activities and be more efficient," said C. G. Kum, president and CEO. "We have located corporate activities in several of our buildings until we found the right central facility to suit our needs. We also believe a headquarters location in the fast-growing Conejo Valley Technology Corridor will generate business opportunities and facilitate our company's growth and access to key communities."

Westlake Park Place is an eight-building complex adjacent to US Highway 101, a main artery for most of the communities served by First California's 12 full-service branches. Westlake Village is close to FCAL's most northern locations in Camarillo, Thousand Oaks, Ventura and Simi Valley, and closer to its southerly locations in Encino, Century City and Torrance than the previous corporate headquarters in Camarillo.

The location offers state-of-the-art technology and telecommunications to support First California's operations, convenient free parking, attractive Mediterranean style architecture and the latest in energy efficient design and mechanicals. Upon receiving regulatory approval, First California will move its headquarters to this facility.

About First California

First California Financial Group, Inc. (NASDAQ: FCAL) is an emerging force in Southern California banking. With assets exceeding $1 billion, the company operates throughout Southern California, primarily under the First California Bank brand. The bank's focus is the commercial market, particularly small and middle-sized businesses and commercial real estate, development and construction concerns. With a commitment to provide the best client service available in its markets, the bank offers a full line of quality commercial banking products through 12 full-service branch offices and one loan production office. The holding company's website can be accessed at www.fcalgroup.com. For additional information on First California Bank's products and services, visit www.fcbank.com.

Forward-Looking Information

This press release contains certain forward-looking information about First California that is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, and include statements related to the hiring of a new executive vice president and chief credit officer and his incorporation into the management team of First California, the operation and oversight of First California's credit administration department and opportunities to grow First California's loan portfolio. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of First California. First California cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking statements. Risks and uncertainties include, but are not limited to, the impact of the current national and regional economy on small business loan demand in Southern California, loan delinquency rates, the ability of First California and its subsidiaries to retain customers, interest rate fluctuations and the impact on margins, demographic changes, demand for the products and services of First California and its subsidiaries, as well as their ability to attract and retain qualified people, competition with other banks and financial institutions, and other factors. If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, First California's results could differ materially from those expressed in, or implied or projected by such forward-looking statements. First California assumes no obligation to update such forward-looking statements. For a more complete discussion of risks and uncertainties, investors and security holders are urged to read the section titled "Risk Factors" in First California's Annual Report on Form 10-K and any other reports filed by it with the Securities and Exchange Commission ("SEC"). The documents filed by First California with the SEC may be obtained at the SEC's website at www.sec.gov. These documents may also be obtained free of charge from First California by directing a request to: First California Financial Group, Inc., 1880 Century Park East, Suite 800, Los Angeles, CA 90067. Attention: Investor Relations. Telephone (310) 282-6703.

Contact Information

  • At the Company:
    Ron Santarosa
    805-322-9333

    At The Investor Relations Company:
    Tad Gage or Woody Wallace
    312-245-2700

    Corporate Headquarters Address:
    1880 Century Park East, Suite 800
    Los Angeles, CA 90067