AltaPacific Bancorp is being advised in this merger transaction by the law firm of Bingham McCutchen, LLP. Mission Oaks Bancorp is being advised by the law firm of McKenna Long and Aldridge, LLP and Gary Steven Findley of The FINDLEY GROUP as its financial advisor.AltaPacific Bank is a wholly owned subsidiary of AltaPacific Bancorp. AltaPacific Bank is an independent business bank headquartered in Santa Rosa, Calif. and was organized in 2006. More information about AltaPacific Bank may be obtained at www.apbconnect.com. Mission Oaks National Bank is a wholly owned subsidiary of Mission Oaks Bancorp. Mission Oaks National Bank is an independent community bank headquartered in Temecula, Calif. and was organized in 2000. More information about Mission Oaks National Bank may be obtained at www.missionoaksbank.com. Forward Looking Information This press release includes certain forward-looking statements about AltaPacific Bancorp, AltaPacific Bank, Mission Oaks Bancorp, Mission Oaks National Bank and the proposed transaction. All statements in this press release, other than statements of historical fact, are forward-looking statements. In particular, statements regarding our expectations about our future financial performance or the realization of the expected benefits of the merger contained in this press release are subject to a number of risks and uncertainties, and future financial results could differ materially due to such risk factors, which are difficult to predict and are beyond our control and the control of AltaPacific Bancorp, AltaPacific Bank, Mission Oaks Bancorp or Mission Oaks National Bank. Such risks and uncertainties include, but are not limited to: the risk that we will not succeed in obtaining the regulatory or shareholder approvals needed for the transaction; the possibility that cost savings expected to be realized in the transaction may not be realized within expected time frames or at all; the possibility that integrating Mission Oaks National Bank’s banking business into AltaPacific Bank’s banking business could cost more, take longer or be less successful than expected; continued unfavorable economic conditions generally and, more particularly, in Southern California, including high unemployment, could result in loan losses that would adversely affect operating results; the monetary policies of the Federal Reserve, which affect interest rates, as well as competitive pressures among depository institutions, could cause our net interest margins to decline, thereby adversely affecting our banking revenues; and legislative or regulatory requirements or changes, including regulations that are in the process of being adopted under the Dodd-Frank Wall Street Reform and Consumer Protection Act, could increase the costs of doing business.
If any of these risks or uncertainties materializes or any of the assumptions underlying the forward-looking statements prove to have been incorrect, our financial performance could differ materially from the financial performance expressed in or implied or projected by, the forward-looking statements. Accordingly, you should not place undue reliance on forward-looking statements contained in this press release and we undertake no obligation to update those statements, except as may be required by applicable law.Additional information This press release is not a solicitation of a proxy from any shareholder of Mission Oaks Bancorp. In connection with the proposed transaction between Mission Oaks Bancorp and AltaPacific Bancorp, Mission Oaks Bancorp will be preparing a proxy statement with regards to the proposed merger. That proxy statement will be sent to the shareholders of Mission Oaks Bancorp, who are urged to carefully read the proxy statement and any other relevant documents when they become available, because they will contain important information about Mission Oaks Bancorp and the proposed transaction. It also will be possible to obtain copies of the proxy statement and other documents relating to the proposed transaction (when they become available), free of charge, from Mission Oaks Bancorp, upon written request to Mission Oaks Bancorp, 41530 Enterprise Circle South , Temecula, CA 92590; Attention: Mr. Gary W. Deems, or by calling Mr. Deems at (951) 506-8891.