Coronado First Bank Adds Two Seasoned Local Lenders to Staff.

CORONADO, Calif. -- Bruce Ives, President and CEO of Coronado First Bank (the "Bank") (OTCBB:CDFB), announced that it has solidified its Commercial Lending Group by adding Michael Wastila and Jeanine Baggett to the staff.

Coronado First Bank hired Michael P. Wastila as a vice president and commercial loan officer. A Coronado native and major in the Marine Corps Reserve, Wastila has had a lifelong fascination with finance. He spent four years with San Diego National Bank prior to recall to active duty and multiple combat deployments in support of Operations Enduring Freedom and Iraqi Freedom. Wastila joined the Marine Corps as an officer after graduating from UC Berkeley in 1991. He transitioned to the Marine Corps Reserve following four years of active duty and decided to pursue a career in finance. In 1998, Wastila graduated with honors from Santa Clara University with an MBA in finance and international business. Subsequently, he began working for San Diego National Bank in credit administration, ultimately managing multiple departments as assistant vice president - credit, special assets, closing and notes. Wastila, whose father and brother are also Marine Corps majors, lives in Coronado with his wife and family. Wastila is active in a number of civic organizations. He is a trustee and life member of the Veterans of Foreign Wars, Post 2422, in Coronado; life member, Military Officers Association of America, Silver Strand chapter; and a life member, Coronado Schools Foundation. "I grew up in Coronado as a military brat," Wastila says. "It's great to be working back on the island for such an innovative and forward-looking organization!"

Jeanine Baggett was also hired as a vice president and commercial loan officer for Coronado First Bank. A native of La Mesa, Baggett has been involved in the banking industry for 28 years. Having started her career as a teller and working her way up through the industry, she spent the past five years in SBA lending, most recently at Security Business Bank in downtown San Diego and at Cuyamaca Bank in La Mesa. Before that, Baggett was involved in commercial and consumer lending, with an emphasis on consumer real estate and compliance. Baggett continues to live in East County, residing with her husband and daughter in Rancho San Diego. A graduate of Monte Vista High School, she also attended Grossmont College, with a focus on business administration and finance. "My goal at Coronado First Bank is to help the bank grow and recruit new business through my lifelong ties in San Diego," she says." I am a community banker and believe in the benefits that a community bank can bring to business owners as well as to the community itself."

Ives said, "We are fortunate to have found two such highly qualified candidates to join the Coronado First Bank family. Michael and Jeanine both share the Bank's commitment to providing high quality, value-added service to all of our clients. We couldn't be happier about their decision to help Coronado First Bank establish itself as one of the premier banks in San Diego County."

Coronado First Bank is the only locally owned bank on the island of Coronado. It officially opened for business in October, 2005, after receiving its charter just 18 months earlier. Though the bank has a Coronado-specific focus, Coronado First also serves the entire county through such regional services as online banking and small-business loans.

Coronado First Bank is a public company traded on the Over-the-Counter Bulletin Board: CDFB.