First California Financial Group, Inc.




Industry/Sector: Savings Bank/Finance
Symbol: FCAL

Video Interview of CEO C.G. Kum on TheStreet.com


About the Company:
First California Financial Corp., Inc. serves commercial and retail customers throughout Los Angeles, Orange and Ventura counties, with more than $1 billion in assets. The bank offers a full line of quality retail-banking products through 12 full-service branch offices and two loan production offices. First California was created through the merger and consolidation in 2007 of three financial institutions.

Net income rose to $2.4 million for its third quarter ended September 30, 2007, or 20 cents per diluted share, compared with third quarter 2006 net income of $1.8 million or 29 cents per diluted share. 

For the nine months of 2007, First California reported net income of $4.4 million or 41 cents per diluted share.  The per share data for 2007 reflects the increase in outstanding weighted average shares that resulted from issuing 5.9 million common shares in connection with the merger with FCB Bancorp completed in the 2007 first quarter. 

         Highlights:

  • 3Q 2007 net income of $2.4 million
  • Loan volume up sharply in September 2007
  • Asset quality remains high, no loan loss provision
  • Hired New Chief Credit Officer
  • Authorized Stock Repurchase of up to $5 million


Contacts:

First California Financial Group, Inc.
Ron Santarosa
(805) 322-9333

Ron Santarosa

The Investor Relations Company
Woody Wallace
(312) 245-2700



This website contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 as amended, and is including this statement for purposes of these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on the operations and future prospects of the Company and its wholly-owned subsidiaries include, but are not limited to, changes in: interest rates; general economic conditions; legislative/regulatory provisions; monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality of composition of the loan or investment portfolios; demand for loan products; deposit flows; competition; demand for financial services in the Company's market area; and accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Further information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission.

The Investor Relations Company, which serves as investor relations counsel to FCAL, is acting on its behalf in issuing this information. The information contained herein is not guaranteed as to accuracy or completeness, is furnished for information purposes only and is not to be construed as an offer to buy or sell securities.