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Heritage Oaks Announces New Chief Financial Officer

PASO ROBLES, Calif., Jan. 11, 2013 (GLOBE NEWSWIRE) -- Simone F. Lagomarsino, President and CEO of Heritage Oaks Bancorp (Nasdaq:HEOP), announces the appointment of Mark K. Olson as Executive Vice President and Chief Financial Officer of the Company and Heritage Oaks Bank. Mr. Olson joined the company on Monday, January 7, 2013.

"Mark is a great addition to our executive management team," stated Lagomarsino. "We are very pleased to have someone with his level of experience and talent join our company. Mark's strong financial background and leadership experience are an important asset to us as we move forward."

Mr. Olson has more than 23 years of financial services industry experience. He has been involved in all aspects of finance including financial planning and analysis, accounting, budgeting, financial reporting, financial and management information systems, and corporate finance. Olson will serve as a key member of the Heritage Oaks executive team and will be responsible for directing and overseeing the company's finance and accounting functions.

He has held a number of senior financial management positions prior to joining Heritage Oaks Bancorp. Most recently, he served as Executive Vice President and CFO at Pacific Capital Bancorp and its subsidiary Santa Barbara Bank & Trust, a $6 billion community bank located on the central coast of California, until its acquisition by UnionBanCal Corporation.

Prior to Pacific Capital Bancorp, Olson served as Vice President and Finance Director at Goldman Sachs Bank, USA, a $120 billion commercial banking subsidiary of Goldman Sachs Group, Inc., the fifth largest bank holding company in the United States. He also held a number of senior financial management positions at Westcorp, a $16 billion diversified financial services holding company for Western Financial Bank, a federally chartered savings bank, and WFS Financial, a nationwide automobile finance company, prior to its acquisition by Wachovia Corporation.

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