Pacific Trust Bank to Buy New Branch Building from FDIC and Open Recently Acquired Branch Located in La Jolla, California

CHULA VISTA, Calif.--(BUSINESS WIRE)-- Pacific Trust Bank, a wholly-owned subsidiary of First PacTrust Bancorp, Inc. (NASDAQ: FPTB), announced today that it has entered into an agreement with the Federal Deposit Insurance Corporation to purchase a bank branch property located at 1642 West San Marcos Boulevard, in San Marcos, California. The property being purchased was formerly a bank branch owned and occupied by San Diego National Bank that previously held $98.3 million in total deposits. The purchase of the property is expected to close during the first quarter of 2011, and Pacific Trust Bank (“Pacific Trust”) anticipates opening its newest branch in that location during the second quarter of 2011, subject to regulatory approvals.

Additionally, Pacific Trust has received approval from the Office of Thrift Supervision to open the branch office located at 7877 Ivanhoe Avenue, in La Jolla, California. As previously disclosed, Pacific Trust acquired this location from the Federal Deposit Insurance Corporation during the fourth quarter of 2010. The new La Jolla branch was formerly a bank branch owned and operated by San Diego National Bank that previously held $144.8 million in total deposits. Pacific Trust Bank projects an opening of the new office during the first quarter of 2011.

Hans R. Ganz, President and Chief Executive Officer of Pacific Trust Bank, said: “We are excited for this opportunity to expand our branch network into the San Marcos area of San Diego County and to offer Pacific Trust’s quality service and financial products to the individuals, families and businesses in the Northern San Diego County area.” Mr. Ganz went on to say that “the opening of our La Jolla office will enable the bank to provide Pacific Trust’s unique suite of products and personal service experience to business and individual customers banking in La Jolla.”

Pacific Trust is headquartered in San Diego County and is a wholly-owned subsidiary of First PacTrust Bancorp, Inc.Pacific Trust currently operates nine banking offices serving primarily San Diego and Riverside Counties in California.

You can find out more information about Pacific Trust’s products, services and locations on its web site: www.pacifictrustbank.com.

Pacific Trust BankHans Ganz, President and CEO
619-691-1519 ext 4000

Source: Pacific Trust Bank