First California Announces Branch Realignment Initiative

First California Financial Group, Inc. FCAL, the holding company of First California Bank, today announced plans to realign branch offices within its banking regions, which includes the closing and consolidation of four branches located in Brea, Temecula, Thousand Oaks and Woodland Hills. The closing of the branches, which is scheduled for mid-year 2012, will result in pre-tax cost savings of approximately $1.4 million in 2012 and $2.7 million annually, thereafter. This initiative is expected to improve EPS by $0.03 for 2012 and $0.06 for 2013. One-time charges related to the branch consolidation are not expected to be material. The planned closings and consolidations are a result of an evaluation, which measured near-term growth potential in the current economic environment, as well as the Bank's ability to continue to service clients' needs at nearby First California Bank locations.