SOURCE: First California Financial Group

First California Financial Group

January 24, 2011 20:00 ET

First California and Federal Reserve Bank of San Francisco Terminate Informal Agreement

WESTLAKE VILLAGE, CA--(Marketwire - January 24, 2011) - First California Financial Group, Inc. (NASDAQ: FCAL), the holding company of First California Bank, today announced the termination of the informal agreement with the Federal Reserve Bank of San Francisco, which commenced on February 1, 2010. The company had agreed, among other things, to obtain regulatory approval before declaring or paying any dividends, making any payments on trust preferred securities or making any other capital distributions. First California complied fully with the agreement and had received approval to pay all dividends on the Series B Preferred Stock and all payments on its trust preferred securities.

About First California

First California Financial Group, Inc. (NASDAQ: FCAL) is the holding company of First California Bank. Celebrating 31 years of business in 2010, First California is a regional force of strength and stability in Southern California banking with assets of $1.6 billion and led by an experienced team of bankers. The company specializes in serving the comprehensive financial needs of the commercial market, particularly small- and middle-sized businesses, professional firms and commercial real estate development and construction companies. Committed to providing the best client service available in its markets, First California offers a full line of quality commercial banking products through 18 full-service branch offices in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties. The holding company's Web site can be accessed at www.fcalgroup.com. For additional information on First California Bank's products and services, visit www.fcbank.com.

Contact Information

  • For further Information:
    At the Company:
    Ron Santarosa
    805-322-9333

    At PondelWilkinson:
    Robert Jaffe
    310-279-5969

    Corporate Headquarters Address:
    3027 Townsgate Road, Suite 300
    Westlake Village, CA 91361