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SoCal Business Bank, N.A. Receives Conditional Approval for New National Commercial Bank

SOURCE:

SoCal Business Bank, N.A. (in organization)

2008-07-28 17:02:00

SoCal Business Bank, N.A. Receives Conditional Approval for New National Commercial Bank

SoCal Business Bank, N.A. Receives Conditional Approval for New National Commercial Bank

Headquartered in Van Nuys and Targeted to Open This Fall, the Bank Offers Exciting Opportunity for Valley Investors

SAN FERNANDO VALLEY, CA–(EMWNews – July 28, 2008) – SoCal Business Bank, N.A. (in

organization) (SCBB) is pleased to announce it is one of a select few

national commercial banks to receive conditional approval from the

Comptroller of the Currency this year to establish a new bank. SCBB also

received conditional approval from the Federal Deposit Insurance

Corporation (FDIC), meaning that federal regulators will insure the bank

and its depositors’ money. It is now working to raise the capital to fund

the bank’s formation and opening of its headquarters in the heart of the

San Fernando Valley, which is currently on target for Fall 2008.

SCBB is being organized by a group of 24 local banking executives and

business people with strong ties to the communities in which they work and

live. In addition, these organizers have assembled a highly experienced

management team to direct the bank’s efforts to provide a unique and

personalized banking experience combined with a full range of services,

customized and tailored to fit the exact needs of its clients.

This executive team consists of President and Chief Executive Officer

Charles E. Fenton, who has more than 30 years of banking experience in the

Los Angeles area; Director and Chief Financial Officer Thomas V. McArdle,

who brings another 30 years of banking experience with 16 of those at the

senior management level; and Chief Credit Officer Robert Scott, who has

served in the commercial banking business for nearly 40 years.

“Our conditional approval shows that we’ve been able to assemble an

experienced management team that has the right credentials,” says Charles

E. Fenton. “We’ve all been bankers in the Los Angeles area for a long time

so we have the experience and knowledge that the regulators feel strongly

positions us for success even in these turbulent economic times.”

Thomas V. McArdle agrees: “This conditional approval really speaks to the

strength of our organizing group. That, combined with the talent pool of

management we have assembled — all leaders in their respective specialized

areas — makes us a first-class operation.”

The organizing founders are now inviting investors from throughout the San

Fernando Valley to consider investing in this local enterprise. SCBB is

offering for sale a minimum of 1,900,000 and a maximum of 2,200,000 shares

of common stock at a price of $10.00 per share. To participate in the

offering, investors must subscribe for a minimum of 1,000 shares, or

$10,000.00. This offering is scheduled to end on September 30, 2008, but

may be shortened or extended depending on how quickly SCBB reaches its

goal.

“Historically, small community banks have done well for initial investors

over time and I believe that trend will continue with SoCal Business Bank,”

says Fenton. That’s partly because the industry is so well regulated by the

government that any risk is greatly reduced. Additionally, the San Fernando

Valley and surrounding Los Angeles communities are dynamic, growing

economies and continue to offer a tremendous amount of business

opportunity. “We’ll offer a community business bank in the heart of the

Valley that is accessible to a broad range of clients and provides

customized solutions and real relationships. We have the very best people

and experience to do it,” Fenton says.

About SoCal Business Bank, N.A.

SoCal Business Bank, N.A. (SCBB) is a national commercial bank in

organization. It will be a locally owned, full service, independent bank

headquartered in Van Nuys, California, and will serve businesses throughout

the San Fernando Valley, including Van Nuys, Sherman Oaks, North Hollywood,

Valley Village, Studio City and Burbank. For more information, please visit

the SCBB Web site at www.socalbusinessbank.com, or call the bank’s

organizing offices at (818) 982-0798 or (818) 982-0794.

Media Contacts

Christina Jorgensen
Drizen-Dohs Corporate Communications
818-772-9555, ext. 103

Lauren Anderson
Drizen-Dohs Corporate Communications
818-772-9555, ext. 115

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