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FIRST REGIONAL BANCORP ANNOUNCES EARNINGS

 FIRST REGIONAL BANCORP ANNOUNCES EARNINGS
 CENTURY CITY, Calif., Oct. 28 /PRNewswire/ -- First Regional


Bancorp (NASDAQ: FRGB) continued profitable operation for the nine months, Jack A. Sweeney, chairman and chief executive officer, announced today.
 For the three months ended Sept. 30, 1992, net income was $126,000, or 6 cents per share, compared to $122,000, or 6 cents per share, in the same quarter a year ago.
 For the nine months, net income increased to $440,000, or 20 cents per share, from $308,000, or 14 cents per share, in the like period last year.
 At the end of the nine months, total deposits for First Regional had increased to $138.4 million from $126.6 million. Total assets rose to $152.1 million from $140.9 million, and net loans advanced to $119.1 million from $103.7 million.
 Sweeney commented: "We are pleased by the continued profitability of our bank in the face of difficult economic conditions. The results for the nine months reflect our ongoing strategy focusing on strong liquidity, conservative lending practices and prudent reserves. This cautious approach was in place long before the downturn in the California economy began, and we expect to continue to pursue it in the future.
 "It is important to note, however, that although our operating strategy has enabled First Regional to maintain its profitability, neither we, nor our customers, are immune from the current recession. While it is impossible to predict the ultimate impact of the recession on the bank or its customers, the maintenance of strong reserves is especially necessary in difficult times. During the third quarter of 1992, First Regional made significant additions to its reserve for loan losses, and we will continue to bolster our reserves as necessary to avoid difficulties in the future."
 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
 Third Quarter Ended
 Sept. 30,
 1992 1991
 Net income $126,000 $122,000
 Net income per share $.06 $.06
 Nine Months Ended
 Sept. 30,
 1992 1991
 Net income $440,000 $308,000
 Net income per share $.20 $.14
 Shares outstanding 2,158,800 2,157,800
 Total deposits $138,416,000 $126,569,000
 Total assets $152,149,000 $140,893,000
 Net loans $119,110,000 $103,662,000
 -0- 10/28/92
 /CONTACT: Jack A. Sweeney, chairman of First Regional Bancorp, 310-552-1776/
 (FRGB) CO: First Regional Bancorp ST: California IN: FIN SU: ERN


KJ-LS -- LA005 -- 5830 10/28/92 09:30 EST
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Date:Oct 28, 1992
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