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SUNWEST BANK ACQUIRES METROPACIFIC BANK

TUSTIN, Calif., June 27, 2009 – Sunwest Bank has acquired MetroPacific Bank of Irvine, California. The FDIC accepted receivership of MetroPacific from California’s Department of Financial Institutions, which closed MetroPacific on Friday, June 26th. The FDIC subsequently entered into an agreement with Sunwest Bank, under which Sunwest assumed all of MetroPacific Bank’s deposits and loans. The deposits total approximately $70 million.

The former MetroPacific will reopen Monday, June 29th as part of Sunwest Bank. Existing MetroPacific customers will be able to conduct business as usual, as their money will be available through checks, ATM and debit cards. Loan customers should continue to make their payments as usual.

Sunwest Bank representatives will be available at the former MetroPacific branch to answer questions from current and prospective customers. Sunwest Bank, which is headquartered in Tustin, California, is one of the strongest banks in California, with twice the capital requirement.

“We are pleased to welcome former MetroPacific customers as our new customers,” notes Glenn Gray, President and Chief Executive Officer of Sunwest Bank. “Following this acquisition, Sunwest Bank remains strong, well-capitalized and highly liquid. Our new customers will benefit from having their deposits in a strong bank, and we look forward to serving all their banking needs going forward.”

At the close of Sunwest Bank’s most recent quarter, its net income grew 100 percent year-over-year for the first quarter, and its assets grew by 20 percent during the same period.

“We have grown nicely, without the use of TARP funds, because our capital base is so strong,” adds Gray. “Our lending practices have been reasonable throughout what was an unreasonable period for our industry. We have protected our depositors’ money, made smart loans, and are now reaping the benefits of that more savvy business conduct.”

Sunwest Bank anticipates announcing its new total assets, including those acquired in this transaction, shortly after the closing of the second quarter.

“Depositors seeking a bank with a strong balance sheet, where their money is not only Federally insured, but is in a safe bank where they won’t have to worry about it, have flocked to Sunwest this year,” Gray added. “Now, through this acquisition, we are able to help even more depositors by bringing them in as our customers.”

“In addition to gaining new deposits this year, we have also attracted many new borrowers who are enticed by our personal service, the fact that our experienced loan officers listen to them and learn about their business, and our practical approach to lending,” he said. “We look forward to showing our newest customers the difference in our approach.”

“Sunwest Bank is strong and growing,” Gray explained. “While other banks are focused internally on their growing portfolio of non-performing loans, Sunwest Bank is still lending to strong entrepreneurs, attracting depositors, and exploring additional acquisition opportunities. We are in a position of strength based on our continued attention to solid business practices, as well as our focus on the needs of our customers.”

With nearly 40 years in business, Sunwest Bank is one of the strongest banks in California. The bank specializes in meeting the needs of small and mid-size businesses, is an industry-recognized leader in homeowner association management banking, and has specialties in healthcare and security and defense-related businesses. Sunwest Bank also has a home mortgage division, which it recently established after the sub-prime meltdown in order to provide home loans to well-qualified buyers. Sunwest Bank has branch offices throughout Orange County, California in Tustin, Anaheim, Newport Beach and Laguna Hills.

Additional information can be found at www.sunwestbank.com.