SOURCE: Desert Community Bank

August 10, 2007 16:35 ET

Desert Community Bank Announces Shareholder Approval of Merger With East West Bank

VICTORVILLE, CA--(Marketwire - August 10, 2007) - Desert Community Bank (NASDAQ: DCBK) announced today that its shareholders approved the proposed merger with East West Bank at a special meeting of the Bank's shareholders held on August 9, 2007. The closing of the merger is scheduled for August 17, 2007.

Ronald L. Wilson, Chairman, President and CEO of Desert Community Bank, commented, "We are excited to partner with East West and believe that our customers and community will benefit from the resources of East West. The combined companies will allow High Desert residents and businesses to benefit from an expanded array of deposit and loan products and services. The Desert Community Bank name will be maintained and Ron Wilson will continue to lead the DCB branches, which will operate as a division of East West."

About East West

East West Bancorp is a publicly owned company, with $10.8 billion in assets, whose stock is traded on the Nasdaq Global Select Market under the symbol "EWBC." The company's wholly owned subsidiary, East West Bank, is the second largest independent commercial bank headquartered in Los Angeles with 60 branch locations. East West Bank serves the community with 58 branch locations across Southern and Northern California and a branch location in Houston, Texas. East West Bank has two international locations in Greater China, including a full-service branch in Hong Kong and a Beijing Representative Office in China. For more information on East West Bancorp, visit the company's website at www.eastwestbank.com.

About Desert Community Bank

From its inception in March 1980, Desert Community Bank has been a leader in serving the needs of the communities in which it operates. That leadership is reflected by the involvement of DCB and its employees in the many civic and non-profit organizations that act as its partner in enhancing the quality of life for all. The success of the DCB's efforts in partnership with many community leaders is reflected in the growth of DCB to become the largest financial institution headquartered in the High Desert, with total assets of $576 million as of June 30, 2007.

DCB's nine full-service branches are located throughout the High Desert region of San Bernardino County, in the cities of Victorville, Apple Valley, Hesperia, Wrightwood, Adelanto, Barstow and Phelan. Shares of DCB's common stock are traded on the NASDAQ Global Market under the symbol "DCBK." To obtain a copy of any of DCB's public filings, or to obtain additional information, please visit DCB's website at www.dcbk.org or contact Ronald L. Wilson, President and CEO, or John G. Sullivan, Chief Financial Officer at (760) 243-2140.

Contact Information

  • Contact:
    Ronald L. Wilson
    Chairman/CEO
    (760) 243-2140