Belvedere Capital to Acquire a Majority Interest in Professional Business Bank.

SAN FRANCISCO -- Professional Business Bank (OTCBB: PBBK), a full-service bank serving Southern California businesses, and Belvedere Capital Fund II L.P., a financial services-focused private equity firm, announced today that they have signed a definitive agreement for an affiliate of Belvedere to acquire a majority interest in Professional Business Bank for a combination of cash and stock. Belvedere's investment will provide the resources for additional hiring, branch expansion and acquisitions to support Professional Business Bank's goal of becoming Southern California's premier business banking franchise.

"This transaction is consistent with our long-term growth plan and is beneficial to our shareholders. Belvedere will bring additional expertise and capital to support our growth and provide the opportunity for our shareholders to continue to participate in the expansion of our platform," William Baribault, Chairman of Professional Business Bank said.

"The Professional Business Bank team has built a great foundation for growth. We are excited to work with them and achieve our shared vision," Alison Davis, Managing Partner of Belvedere said.

The Transaction

Under the terms of the agreement, all Professional Business Bank shares will be exchanged for consideration comprised of $23.00 in cash or 0.87 shares of a newly formed holding company that will own 100% of Professional Business Bank. Shareholders will elect their form of consideration, with 52.5% of the outstanding shares expected to receive cash and the remaining 47.5% to receive holding company shares, subject to the allocation provisions of the agreement.

Belvedere has established itself as one of the leading private equity investors in community banks and related financial services in the U.S. Since 1994 Belvedere has purchased or invested in 12 community banks and partnered with management teams to grow strong banking franchises. Belvedere's principals have decades of experience investing in and operating financial institutions and will work with Professional Business Bank's management to enhance growth, operating performance and strategic position.

"We believe there is a significant organic growth and consolidation opportunity in Southern California. We will continue to add talent and seek other merger and acquisition opportunities that complement Professional Business Bank's footprint, customer base and products," Ms. Davis said.

This transaction and the newly formed holding company are intended to accelerate Professional Business Bank's growth and create a platform for additional bank acquisitions in the Southern California market. Belvedere will assist Professional Business Bank in fulfilling this vision by helping to attract strong commercial loan officers and identifying strategic acquisitions.

Alan Lane, a Senior Advisor to Belvedere as well as former President/CEO of Business Bank of California and President/COO of Southwest Community Bank, will become the Executive Chairman of Professional Business Bank. He will be joined on the board by two continuing Directors from the current Professional Business Bank board as well as Alison Davis and Jae Lim from Belvedere.

"Professional Business Bank has assembled a team of outstanding people, a broad product mix and an efficient processes necessary to become a leading business bank," Mr. Lane said. "We will immediately seek to further strengthen our team with seasoned commercial bankers in the high-growth Southern California markets."

Members of Professional Business Bank's Board of Directors and Officers representing approximately 18% of Professional Business Bank's stock have agreed to vote in favor of the transaction. Keefe, Bruyette & Woods advised Professional Business Bank on the transaction. Pending approval and other customary closing conditions, the transaction is expected to be completed by mid-2007.

About Belvedere

As a provider of value-added capital to financial institutions, Belvedere partners with strong management teams to build profitable, growing franchises and deliver excellent returns to its investors. Based in San Francisco, CA, Belvedere is currently investing its second financial services-focused private equity fund and is targeting growth regions such as Texas, Florida, Georgia, the Pacific Northwest, the Greater Washington D.C. area and California.

About Professional Business Bank

Headquartered in Pasadena, CA, Professional Business Bank was created by business leaders for business leaders and reported assets of $184 million as of September 30, 2006. Through its branch network and seasoned personnel, Professional Business Bank offers personal and business deposit and loan relationships. Loans are offered through commercial, construction, real estate, SBA and CalCap lending officers. Additional information may be found at www.probizbank.com or by calling 626-395-7000. Professional Business Bank is publicly traded on the OTC Bulletin Board under the stock symbol PBBK.OB.

FORWARD LOOKING STATEMENTS

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. When used in this release, the words or phrases such as "will likely result in," "management expects that," "will continue," "is anticipated," "estimate," "projected," "believes," "intends," or similar expressions, are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers should not place undue reliance on the forward-looking statements, which reflect views only as of the date hereof. Neither Belvedere nor Professional Business Bank undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.