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FIRST REGIONAL BANCORP REPORTS RESULTS

 FIRST REGIONAL BANCORP REPORTS RESULTS
 CENTURY CITY, Calif., Feb. 27 /PRNewswire/ -- First Regional


Bancorp (NASDAQ: FRGB) ended 1991 with higher deposits, assets and net loans, but net income was lower for both the fourth quarter and the year, Jack A. Sweeney, chairman and chief executive officer, announced today.
 For the quarter ended Dec. 31, 1991, net income was $400,000, equal to 18 cents per share, as compared to $444,000, or 19 cents per share, in the same period a year ago. For the full year, net income was $708,000, or 32 cents per share, as against $1,107,000, or 50 cents per share, in 1990.
 Sweeney commented: "First Regional achieved a competitive level of performance in 1991 despite the recessionary pressures in the economy, which adversely impacted businesses large and small. While the decline in interest rates during the year was in part responsible for our lower level of earnings, we were not immune from declining borrower performance resulting from the recession. Non-performing loans rose to $8.2 million at Dec. 31, 1991, a substantial increase from earlier periods.
 "Fortunately, the fundamental strength of First Regional has insulated our operations from the worst of the recession. The most important indicator of our financial strength, total capital, rose to $12 million at Dec. 31, 1991. For the year, total deposits grew to over $122 million, from $107 million at the end of 1990. Our total assets rose to $136 million, from $119 million a year ago, and net loans climbed to more than $107 million from $75 million last year.
 "We achieved this growth despite difficult economic conditions while maintaining conservative lending standards, prudent reserves and strong liquidity. These standards, combined with our careful watch on expenses, have placed First Regional in a position of strength to deal with possible adverse conditions. Given the uncertain state of the economy, we see no reason to alter our strategy in 1992."
 First Regional Bancorp is a bank holding company headquartered in Century City. First Regional Bank, its subsidiary, specializes in providing businesses and professionals with the management expertise of a major bank and the personalized service of an independent.
 FIRST REGIONAL BANCORP
 Summary of Results
 Fourth Quarter Ended
 Dec. 31,
 1991 1990
 Net income $400,000 $444,000
 Net income per share $.18 $.19
 Year Ended
 Dec. 31,
 1991 1990
 Net income $708,000 $1,107,000
 Net income per share $.32 $.50
 Common shares and share equivalents 2,232,000 2,223,000
 Total deposits $122,430,000 $106,964,000
 Total assets $136,858,000 $119,326,000
 Loans - net $107,757,000 $75,522,000
 -0- 2/27/92
 /CONTACT: Jack A. Sweeney, chairman of First Regional Bancorp, 310-552-1776/
 (FRGB) CO: First Regional Bancorp; First Regional Bank ST: California IN: FIN SU: ERN


KJ-JL -- LA011 -- 3229 02/27/92 11:34 EST
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Date:Feb 27, 1992
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