State Closes First Regional Bank by EON

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									State Closes First Regional Bank
January 29, 2010 07:25 PM Eastern Time  

SAN FRANCISCO--(EON: Enhanced Online News)--The California Department of Financial Institutions (DFI)
today announced that First Regional Bank (First Regional) was closed and ordered to be liquidated, citing
inadequate liquidity and inadequate capital.

First Regional is a federally insured, state-chartered commercial bank based in Los Angeles with total assets of
approximately $2 billion. Its deposits are federally insured for up to $250,000 by the Federal Deposit Insurance
Corporation (FDIC).

The FDIC was appointed the reciever of First Regional by the DFI. The FDIC has accepted a bid from First
Citizens Bank of North Carolina to acquire First Regional and assume its deposits, including all uninsured deposits.
For information about FDIC coverage limits and requirements, visit www.fdic.gov or call toll-free 1-877-ASK-
FDIC.

Maintaining the integrity of financial services remains the primary mission of the DFI. The DFI oversees the secure
operation of California’s state-chartered financial institutions. The DFI ensures public confidence in financial
institutions by protecting the interests of depositors, borrowers, shareholders and consumers through enforcement of
state laws. In addition to posting information about the DFI and its licensees, the DFI’s website features consumer
tips on a variety of financial topics and consumer information brochures in seven languages.

The DFI reports to Dale E. Bonner, Secretary of the Business, Transportation and Housing Agency and Governor
Arnold Schwarzenegger.

Contacts
California Department of Financial Institutions
Alana Golden, 916-323-7012 or 916-322-5966
Public Information Officer
www.dfi.ca.gov

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