First California Completes Merger of Equals
March 13 2007 - 8:00AM
Business Wire
First California Financial Group, Inc. (NASDAQ:FCAL) today
announced it has completed the merger of equals between National
Mercantile Bancorp (NASDAQ:MBLA) and FCB Bancorp (OTCBB:FCBA).
Along with completing the merger of equals, the combined companies
have adopted the First California name, and the new company will
begin trading today on NASDAQ under its new symbol FCAL. Yesterday,
in simultaneous meetings, the shareholders of National Mercantile
Bancorp and FCB Bancorp voted, respectively, to approve the merger
of the companies with and into First California. As a result of the
merger, the principal operating subsidiaries of First California
are First California Bank, Mercantile National Bank and South Bay
Bank. �With the finalization of this merger, we are positioning
ourselves to become a major financial institution in Southern
California. Our asset size will increase to over $1 billion and our
branch system will expand to 12 offices, serving Los Angeles,
Orange and Ventura counties. Our increased size and stronger
financial position will enable us to provide more lending
opportunities and a wider array of products and services to our
clients,� said C. G. Kum, President and Chief Executive Officer.
�Today marks the beginning of a new First California Bank and we
greatly appreciate the support of our shareholders, our Board of
Directors, our employees and our clients.� FORWARD-LOOKING
STATEMENTS This press release contains certain forward-looking
information about First California that is intended to be covered
by the safe harbor for �forward-looking statements� provided by the
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact are forward-looking
statements, and include statements related to First California�s
projected growth, expanded lending opportunities, and wider array
of products and services. Such statements involve inherent risks
and uncertainties, many of which are difficult to predict and are
generally beyond the control of First California. First California
cautions readers that a number of important factors could cause
actual results to differ materially from those expressed in, or
implied or projected by, such forward-looking statements. Risks and
uncertainties include, but are not limited to, the impact of the
current national and regional economy on small business loan demand
in Southern California, loan delinquency rates, the ability of
First California and its subsidiaries to retain customers, interest
rate fluctuations and the impact on margins, demographic changes,
demand for the products and services of First California and its
subsidiaries, as well as their ability to attract and retain
qualified people, competition with other banks and financial
institutions, the ability of First California to integrate National
Mercantile Bancorp and FCB Bancorp and their subsidiaries and
respective businesses and the costs of doing so, and other factors.
If any of these risks or uncertainties materializes or if any of
the assumptions underlying such forward-looking statements proves
to be incorrect, First California�s results could differ materially
from those expressed in, or implied or projected by such
forward-looking statements. First California assumes no obligation
to update such forward-looking statements. For a more complete
discussion of risks and uncertainties, investors and security
holders are urged to read the section titled �Risk Factors� in
First California�s registration statement on Form S-4, as well as
its annual reports on Form 10-K, quarterly reports on Form 10-Q and
other reports filed by it with the Securities and Exchange
Commission (�SEC�). The documents filed by First California with
the SEC may be obtained at the SEC�s website at www.sec.gov. These
documents may also be obtained free of charge from First California
by directing a request to: First California Financial Group, Inc.,
1880 Century Park East, Suite 800, Los Angeles, CA 90067.
Attention: Investor Relations. Telephone (310) 282-6703.
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