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First PacTrust Bancorp, Inc. Announces 2nd Quarter 2012 Results August 6, 2012

First PacTrust Bancorp, Inc. (“Bancorp” or the “Company”) (Nasdaq: BANC), the holding company for Pacific Trust Bank (“Bank”), announced today results for the quarter and six months ended June 30, 2012. For the quarter ended June 30, 2012, the Company reported a net loss of $0.7 million and a net loss to common shareholders of $1.1 million. The decline in net income of $1.3 million, when compared to the $0.4 million of net income reported by the Company for the linked quarter ended March 31, 2012, was primarily due to an increase in noninterest expenses of $1.7 million. This increase was largely comprised of $1.1 million in expenses relating to growth initiatives, including a $0.4 million increase in professional services expense, $0.2 million in fees for the pending acquisition of Gateway Bancorp, $0.3 of salaries and benefits expense associated with an increase in temporary help and a $0.3 million increase in occupancy expense associated with rent for the Company’s Irvine headquarters which included additional space for consolidation of the certain personnel in connection with the Company’s pending acquisitions. Noninterest expense also increased compared with the first quarter of 2012 as a result of a $0.1 million increase in other real estate owned (“OREO”) valuation allowance during the second quarter of 2012 and a $0.3 million net gain on sale of OREO during the first quarter of 2012. For the six months ended June 30, 2012, the Company reported a net loss of $0.4 million and a net loss to common shareholders of $1.1 million.

Total assets increased by $32.0 million to $1.12 billion or 3.0%, during the three month period ended June 30, 2012. Since December 31, 2012, total assets have increased $116.1 million, or 11.6%. The growth during the second quarter of 2012 was largely due to a $15.6 million increase in investment securities and a $15.0 million increase in cash and cash equivalents, which was primarily funded with net proceeds of the issuance by the Company in April 2012 of $33.0 million in 7.50% senior notes.

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