SOURCE: Vineyard National Bancorp

February 07, 2007 17:00 ET

Vineyard National Bancorp Establishes SFR Luxury Construction Lending Group in Northern California

CORONA, CA -- (MARKET WIRE) -- February 7, 2007 -- Vineyard National Bancorp (NASDAQ: VNBC) and Vineyard Bank, N.A. ("Vineyard") announced today its further expansion within Northern California through the hiring of Natalie Taaffe as executive vice president and the establishment of a luxury single family residential construction lending office. The office has been established in Santa Clara County which is within the Silicon Valley region of Northern California.

Santa Clara County is part of the company's continued strategic initiative of building upon the existing franchise in order to broaden the reach of its product lines and expand the markets in which it serves. Luxury residential construction lending is a well-developed specialty line within Vineyard. The focus of this loan production office will be to expand Vineyard's presence in this lending specialty, within this new geographic market, through very experienced staff.

Natalie Taaffe has joined Vineyard as executive vice president and will lead the new loan production office. Taaffe is a fifth generation resident of Los Altos, whose family was involved in the establishment of this area. Prior to her arrival, Taaffe was the executive vice president and construction lending manager for Bridge Bank, where she started the construction and real estate lending division in 2001. Over the course of the previous six years, her efforts produced over $1 billion in new construction commitments. Taaffe has been a construction lender and division manager in the Los Altos area for 15 years and a banker for 25 years.

"We are delighted to have Natalie on our team. With her many years of experience in construction lending and her high level of underwriting standards, she is a valuable addition and the perfect catalyst for launching our efforts in Santa Clara," stated Norman Morales, president and chief executive officer. "Natalie's extensive family history within Los Altos will be an anchor for Vineyard's community focus as we establish and build client relationships."

Vineyard has established a temporary office at the Pacific Business Center, 2225 E. Bayshore Road in the city of Palo Alto; Ms. Taaffe can be reached at (650) 521-6988. Vineyard plans to have a permanent office located in the city of Los Altos by June of this year.

Of California's 10 cities and communities with the highest median home prices during December 2006, Los Altos ranked number one. Also making the top ten were the cities of Manhattan Beach, Rancho Palos Verdes and Santa Monica, which fall within the numerous cities serviced by Vineyard's construction loan team in Southern California. The housing stock within Santa Clara and San Mateo counties includes thousands of older properties suitable for major rehabilitation or full ground up construction, which is a principal focus of this new loan production office. Vineyard believes the greater Los Altos area to be a desirable geographic market in which to expand other of its specialties as well. The Silicon Valley is a vibrant area of the state with limited available housing, and typically much greater demand than supply of housing. The area leads the nation in residents with higher education degrees produced from local institutions of higher education which include Stanford, University of California at Berkeley, Santa Clara University and San Francisco State University.

About Vineyard National Bancorp

Vineyard National Bancorp ("the company") is a $2.3 billion financial holding company headquartered in Corona, and the parent company of Vineyard, also headquartered in Corona. Vineyard operates through 16 full-service banking centers and five loan production offices in the counties of Los Angeles, Marin, Monterey, Orange, Riverside, San Bernardino, San Diego, Santa Clara and Ventura, Calif. The company's common stock is traded on the NASDAQ Global Market System under the symbol "VNBC." For additional information on the company visit or for additional information on Vineyard and to access internet banking, please visit

This press release may contain forward-looking statements as referenced in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may vary. Factors which could cause actual results to differ from these forward-looking statements include changes in the competitive marketplace, changes in the interest rate environment, economic conditions, outcome of pending litigation, risks associated with credit quality and other factors discussed in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.