California Center Bank Announces FDIC Terminates the Regulatory Order.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--April 15, 2002

California Center Bank (OTCBB:CLFC) announced today the Federal Deposit Insurance Corporation ("FDIC"), effective as of April 9, 2002, terminated the regulatory order.

In early 2002, the FDIC conducted an examination of California Center Bank and determined that California Center Bank had complied with all material aspects of the Bank Secrecy Act ("BSA") and terminated the regulatory order which was put forth on November 30, 2001.

"Over the past several years, California Center Bank has made solid progress, profitably growing the bank," said Seon Hong Kim, President and CEO of California Center. "The FDIC, through its thorough examination, has recognized the dedication and hard work by the Board of Directors, management and employees on complying with all material aspects of the BSA, and confirmed such facts by the quick termination of the regulatory order. California Center Bank is now positioned to continue implementing our strategic plan, which includes identifying new opportunities and expanding the products and services offered to customers."

In late November 2001, California Center Bank completed its conversion from a member bank under the supervision of the Federal Reserve Board ("FRB") to a non-member bank under the supervision of the FDIC. The Board of Directors of California Center Bank proceeded with the conversion based upon several reasons - the most prominent being greater flexibility in setting the strategic course for the bank.

As part of the conversion process the Board of Directors of California Center Bank entered into a regulatory order with the FDIC in relation to improving banking practices relating to its Bank Secrecy Act Programs based upon an examination in 2001 conducted by the FRB, where California Center Bank was found not to have fully complied with all material aspects of the Bank Secrecy Act and its rules and regulations.

Many financial institutions have recently announced that regulatory orders have been put into place against them due to the lack of compliance with BSA. The BSA was implemented, in part, to give the U.S. Treasury a wider variety of regulatory tools to combat money laundering. The BSA requires banks and other financial institutions to retain records to assure that the details of financial transactions can be traced if investigators need to do so, and requires institutions to report currency transactions in excess of $10,000 into or out of the United States.

Founded in 1986, California Center Bank, is a community bank offering a full-range of financial services. It specializes in commercial and SBA loans and trade finance products for multi-ethnic and small business customers. The bank operates 11 branches throughout Southern California and three Loan Production Offices located in Phoenix, Seattle and Denver. Further information about California Center Bank can be found at www.calcenterbank.com.

This release contains forward looking statements regarding future events, including: the ability to introduce new products and services, expand the number of bank branches, and other forecasts and statements of expectations regarding operating performance. Actual results may differ materially from those projected in such forward-looking statements.