Pacific Capital Bancorp Reports First Quarter 2011 Net Income of $16.8 Million

Pacific Capital Bancorp PCBC reported net income of $16.8 million, or $0.51 per diluted share for the three months ended March 31, 2011, compared with $20.8 million, or $0.68 per diluted share, for the three months ended December 31, 2010. This brings total net income to $42.5 million or $1.36 per diluted share, since the closing of the $500 million investment from a wholly-owned subsidiary of Ford Financial Fund, L.P. on August 31, 2010 (“Transaction Date”).