Redwood Capital Bank Announces Hiring of Humboldt County Native, Jennifer Budwig, VP/Commercial Loan Officer.

EUREKA, Calif. -- Redwood Capital Bank (OTCBB:RDWO) announced the hiring of Jennifer Budwig, VP/Commercial Loan Officer. President and CEO John Dalby stated, "Redwood Capital Bank continues to fulfill its mission to serve as Humboldt County's community bank and continues to grow in size. The commitment to the community we serve is further evidenced by the recent hiring of Humboldt County native Jennifer Budwig who has demonstrated her commitment to excellence, the local community and her clients throughout her career. Our Board of Directors, staff and I share a passion for customer service and the addition of Ms. Budwig to our staff will further that cause."

Jennifer Budwig was raised in Humboldt County and graduated from Humboldt State University in 1989 with a degree in Business Management. Upon completion, she worked at U.S. Bank for four years going through a management training program, and then spent 12 years with Umpqua Bank (formerly Humboldt Bank). This included seven years in the Fortuna Branch as a Commercial Loan Officer and five years in the Government Guaranteed Lending Department, primarily focusing on SBA loans as a Business Development Officer.

Ms. Budwig is an active member of the Redwood Regional Economic Development Commission (RREDC) Loan Committee, serves as a judge on the Economic Fuel Competition, is a member of the Humboldt State University Business Advisory Council, the Humboldt County Fair Junior Livestock Auction Committee, the Humboldt County Cattlewomen's Association and the Eureka Rotary Club.

Jennifer Budwig stated, "I am really looking forward to joining the team at Redwood Capital and getting back to my small banking roots by working for a locally owned, community bank. Redwood Capital has done extremely well since its inception and I'm very excited to be part of the future growth they will be experiencing while continuing to support the communities within Humboldt County."

For more information regarding Redwood Capital Bank, please visit our website at www.rdwo.com, contact Fred Moore, CFO, at [phone], or stop by our headquarters and main office at 402 "G" Street, Eureka, CA 95501.

This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the bank is conducting its operations, including the real estate market in California and other factors beyond the bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.