PacTrust Bank Announces Launch Of Residential Warehouse Lending Division And Correspondent Program

First PacTrust Bancorp, Inc. (NASDAQ: BANC) (“First PacTrust"), the multi-bank holding company for Pacific Trust Bank (“PacTrust Bank”) and Beach Business Bank, today provided an update concerning the launch of their new residential Warehouse Lending Division and correspondent origination program. These new business lines are expected to complement PacTrust Bank’s existing Residential Lending Division.

Zoila Price has joined PacTrust Bank as President of its Warehouse Lending Division. Ms. Price is nationally recognized in the mortgage banking industry with more than 25 years of experience, including expertise in retail, wholesale, correspondent lending, mortgage warehouse lending and real estate loss mitigation. Ms. Price has successfully developed and restructured three warehouse lending platforms, and is joined by Ninh-Thu Do, Elsa Boyd, and Diana Galindo on the Warehouse Lending Team.

Robert Franko, Chief Executive Officer of PacTrust Bank and President of First PacTrust, stated: “I am thrilled to welcome Zoila Price and her warehouse lending team on board. Over the past several months PacTrust Bank has invested in developing and building robust, compliant policies, procedures and systems to ensure the sound launch of the Warehouse Lending Division and the Correspondent Program. We have engaged outside advisors such as Garrett, McAuley & Co. to ensure our approach reflects today’s best practices, and, most importantly we have hired exceptional, talented leaders who understand how to run these programs prudently in today’s market environment.”

Jeff Seabold, Managing Director of Residential Lending, stated “The launch of our warehouse and correspondent programs complement First PacTrust’s other residential lending activities and will allow PacTrust Bank to transition third party originations from jumbo to agency loans and from wholesale to correspondent relationships. We believe this will further diversify our residential lending division, enhance our profitability, and reduce compliance, operational and other risks.”

The Correspondent Program will be lead by Ted Ray, President of Residential Lending, and Rick Cossano, Chief Production Officer of Residential Lending.

About First PacTrust Bancorp

Based in Irvine, CA, First PacTrust Bancorp, Inc. is the $1.6 billion multi-bank holding company of Pacific Trust Bank and Beach Business Bank, which together operate banking offices in Los Angeles, Orange, San Diego and Riverside counties, and loan production offices in California, Arizona, Oregon and Washington.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by First PacTrust with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and First PacTrust undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made.

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