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FIRST REGIONAL BANCORP REPORTS RESULTS

 CENTURY CITY, Calif., Feb. 22 /PRNewswire/ -- First Regional Bancorp (NASDAQ: FRGB) posted higher net income for 1992 as its total deposits, assets and net loans increased from the prior year's levels, Jack A. Sweeney, chairman and chief executive officer, announced today.
 For the full year, net income advanced to $810,000, equal to 37 cents per share, from $708,000, or 32 cents per share in 1991.
 For the fourth quarter, net income was $370,000, or 17 cents per share, compared to $400,000, or 18 cents per share, in the like period last year.
 At the end of the year, total deposits had grown to more than $129 million, from $122.4 million at the close of 1991. Total assets increased to $143.8 million from $136.8 million during 1992, and net loans rose to $119.4 million from $107.7 million last year.
 Sweeney commented: "Throughout its history, First Regional Bank has emphasized conservative lending practices. strong liquidity and prudent reserves. This strategy enabled the bank to maintain profitability during this recession and to have a capital base that exceeds all federal requirements.
 "Nonetheless, the recession continues to adversely impact important economic sectors. Because of the resulting increase in non-performing assets, First Regional increased reserves substantially during 1992, and we expect to continue to build reserves in the coming year. We have also signed a consent agreement with federal regulators to maintain First Regional's strong capital position and prudent reserves, and to reduce classified assets.
 "We believe that our continued emphasis on financial strength, conservative lending practices and the tight control of expenses will enable us to maintain both profitable operations and a sound financial base."
 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,
 1992 1991
 Net income $370,000 $400,000
 Net income per share $.17 $.18
 Year Ended
 Dec. 31,
 1992 1991
 Net income $810,000 $708,000
 Net income per share $.37 $.32
 Common shares and share
 equivalents 2,173,000 2,223,000
 Total deposits $129,072,000 $122,430,000
 Total assets $143,821,000 $136,858,000
 Net loans $119,415,000 $107,757,000
 -0- 2/22/93
 /CONTACT: Jack A. Sweeney, chairman & CEO of First Regional Bancorp, 310-552-1776/
 (FRGB)


CO: First Regional Bancorp ST: California IN: FIN SU: ERN

KJ-JL -- LA006 -- 8924 02/22/93 11:31 EST
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Date:Feb 22, 1993
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