PacTrust Bank Announces Key Additions to its Residential Lending Division

  PacTrust Bank Announces Key Additions to its Residential Lending Division

  *Announces hiring of new President, Chief Production Officer, Controller,
    General Counsel, and Regional Vice President to complement existing
    leadership team at Mission Hills Mortgage
  *Adds proven mortgage banking teams to launch several new Mission Hills
    Mortgage locations in PacTrust Bank branches and other locations
    throughout California

Business Wire

IRVINE, Calif. -- February 15, 2013

First PacTrust Bancorp, Inc. (NASDAQ: BANC) (“First PacTrust"), the multi-bank
holding company for Pacific Trust Bank (“PacTrust Bank”) and Beach Business
Bank, today provided an update concerning certain key management additions to
its Mission Hills Mortgage residential lending division. These additions are
the most recent of the enhancements that PacTrust Bank has implemented since
acquiring Mission Hills Mortgage as a part of the Gateway Business Bank
transaction, and reflect PacTrust Bank’s ongoing efforts to build a robust,
prudent and profitable residential lending platform staffed with the
industry’s “best-in-class” professionals. PacTrust Bank’s Residential Lending
Division now includes:

  *Ted Ray has joined the Residential Lending Division as its President will
    manage and oversee Mission Hills Mortgage. Mr. Ray has more than 15 years
    of experience in the mortgage banking industry and was most recently
    Executive Vice President at Pacific Mercantile Bank where he oversaw the
    residential lending division, including its retail, wholesale and consumer
    direct channels.
  *Rick Cossano has joined the Residential Lending Division as its Chief
    Production Officer will manage and oversee all loan production channels of
    Mission Hills Mortgage. Mr. Cossano is a mortgage banking professional
    with more than 30 years of experience that has included overseeing
    production for mortgage banking companies such as JP Morgan Chase, Wells
    Fargo, Countrywide Home Loans, and RPM Mortgage.
  *Kari Hallowell has joined the Residential Lending Division as its
    Controller. Prior to joining PacTrust Bank, Ms. Hallowell was a Senior
    Vice President at Kinecta Federal Credit Union and Corporate Controller
    for Citi Residential Lending.
  *John Madden has joined First PacTrust Bancorp as its Senior Vice President
    and Associate General Counsel will serve as Division General Counsel to
    the Residential Lending Division. Prior to joining PacTrust Bank, Mr.
    Madden served as Executive Vice President and General Counsel of Pacific
    Mercantile Bank. Mr. Madden has more than 20 years of experience
    representing financial institutions and residential mortgage lenders and
    servicers in regulatory and compliance matters.
  *Ed Vaccaro has joined the Residential Lending Division as its Regional
    Vice President will oversee portions of Northern California, Oregon,
    Washington, and Northern Nevada for Mission Hills Mortgage. Prior to
    joining PacTrust Bank, Mr. Vaccaro served as a Regional Manager at Stearns
    Lending, IndyMac, Chase Home Loans, and Bank of America, amongst others.
  *Rachel To has joined the Residential Lending Division as its Wholesale
    Channel Manager. Prior to joining PacTrust Bank, Ms. To served in the same
    capacity at Pacific Mercantile Bank and brings 22 years of wholesale
    mortgage experience.

Jeff Seabold, who has been overseeing these initiatives in his advisory
capacity as the Managing Director of Residential Lending, stated “These latest
additions to our Residential Lending Division leadership team complement First
PacTrust’s other activities to build, on an enterprise-wide basis, the
resources, systems and management expertise needed to achieve PacTrust Bank’s
strategic initiatives relating to residential lending. We continue to achieve
the goals set by management and the Board of Directors to build a robust and
compliant platform well suited to support prudent and profitable growth.”

Additionally, PacTrust Bank has hired several proven mortgage professionals
who will be located in existing PacTrust Bank retail branches and loan
production offices throughout California:

  *Art Sanchez and his team from Elite Financial will operate out of the
    Tustin branch.
  *Jenjer Wind and her team from Pacific Mercantile Bank will operate out of
    the La Jolla branch.
  *Joseph Sanchez and his team from Stearns Lending have recently launched
    the new Salinas loan production office.
  *Alex Bardales from Pacific Mercantile Bank will operate out of the
    Lakewood branch.
  *Lisa Santos, Thomas Yoon, Parnaz Mehdizazeh, and Tan Karim have joined the
    corporate office in Irvine.
  *Additionally, PacTrust Bank expects to open new loan production offices in
    Oakland, Long Beach, Napa, Woodland Hills, Sherman Oaks and Westminster.
    PacTrust Bank has identified and hired the following experienced mortgage
    bankers for each of these locations: Leonard Smith (previously at Stearns
    Lending), Jack Senske (previously at Pacific Mercantile Bank), Martin
    Yataco (previously at Stearns Lending), Miguel Montelong (previously at
    Wells Fargo), Nima Fariman (previously at Guaranteed Home Loans) and
    Joseph Lam (previously at Bay Equity), respectively.

Robert Franko, Chief Executive Officer of PacTrust Bank and President of First
PacTrust, stated: “Over the past several months our leadership team has worked
to enhance our Residential Lending Division and prepare it for prudent,
long-term growth. This process has included the use of experienced consultants
and outside advisors, the addition of several exceptional senior executives to
our team, a thorough review of each of our policies and procedures including
compliance, risk, compensation and operations, and the implementation of a
new, enhanced technology platform, all of which enable us to attract and
retain the highest caliber production teams on the West Coast. Our quick
success identifying and strategically hiring top performing groups in the
region validates the strength of our team, our platform and our plan. These
significant additions will help us meet the residential lending needs of our
depositors and the communities we serve.”

As previously announced, CS Financial currently serves as an advisor to
PacTrust Bank relating to its Residential Lending Division. The Committees of
Independent Disinterested Directors for each of First PacTrust and PacTrust
Bank continue to oversee the relationship with CS Financial, including the
provision of strategic planning, recruiting, marketing and other services to
PacTrust Bank under the arrangement.

Tim Chrisman, Chairman of the Committee of Independent Disinterested
Directors, stated “We are pleased by the results PacTrust Bank has achieved
and the contributions made by CS Financial and Jeff Seabold to that success.
CS Financial continues to provide PacTrust Bank with substantial services,
including the advice and expertise of several of its executives. Paul Lyons
has led CS Financial’s operational review at Mission Hills Mortgage, including
overseeing the implementation of our new mortgage technology platform. Neal
Mendelsohn has led a brand and marketing review, including the development of
the Mission Hills Mortgage’s marketing strategy. The Committees continue to
closely monitor the benefits to PacTrust Bank under the arrangement with CS
Financial and we remain on track to accomplish the objectives envisioned under
the consulting arrangement within the six month timeframe contemplated.”

Mission Hills Mortgage was founded in 1969 and includes 419 mortgage banking
professionals working out of 25 locations throughout California, Oregon,
Washington and Arizona. In 2012, Mission Hills Mortgage closed approximately
5,500 loans totaling approximately $1.2 billion.

About First PacTrust Bancorp

Based in Irvine, CA, First PacTrust Bancorp, Inc. is the $1.6 billion
multi-bank holding company of Pacific Trust Bank and Beach Business Bank,
which together operate banking offices in Los Angeles, Orange, San Diego and
Riverside counties, and loan production offices in California, Arizona, Oregon
and Washington.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of
the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act
of 1995. These statements are necessarily subject to risk and uncertainty and
actual results could differ materially from those anticipated due to various
factors, including those set forth from time to time in the documents filed or
furnished by First PacTrust with the Securities and Exchange Commission. You
should not place undue reliance on forward-looking statements and First
PacTrust undertakes no obligation to update any such statements to reflect
circumstances or events that occur after the date on which the forward-looking
statement is made.


First PacTrust Bancorp, Inc.
Richard Herrin, 949-236-5300
Sitrick And Company
Thomas S. Mulligan, 212-573-6100
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