Department of Financial Institutions Announces New State Bank – Santa Cruz County Bank Will Open its Doors for Business on February 3, 2004

San Francisco – The Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. On February 3, 2004, the Santa Cruz County Bank will open its doors to customers in the Santa Cruz community with a capitalization of $13.2 million.

“I am pleased to welcome Santa Cruz County Bank and report that state-chartered banks continue to grow and prosper in California,” said Donald R. Meyer, Commissioner of Financial Institutions. During the last three years, 32 new state-chartered banks opened with DFI approval. In addition, over 120 branches also opened their doors. “Each new bank has its unique characteristics, which range from serving a small community or ethnic community to offering special services for small businesses and professionals,” added Commissioner Meyer.

John Rossell will serve as President and CEO; David Heald as Chief Credit Officer; and Donald Soman as Chief Financial Officer.

Santa Cruz County Bank is located at 325 Soquel Avenue, Santa Cruz, California, 95062. Their telephone number is (831) 457-5001. Web site address is www.santacruzcountybank.com.

Like all California state-chartered banks, the Santa Cruz County Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.

DFI supervises over 650 financial institutions, including 204 commercial and industrial banks and 221 credit unions.