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Harrington West Financial Group Announces Change in Status for Filing SEC Periodic and Current Reports.

SOLVANG, Calif. -- Harrington West Financial Group, Inc. (OTCBB:HWFG), the holding company for Los Padres Bank, FSB and its subsidiary, Harrington Wealth Management Company, announced today that in connection with its voluntary delisting from NASDAQ and move to the Over the Counter Bulletin Board, it now qualifies to cease filing periodic and current reports under the Securities Act of 1934. Accordingly, on March 26, 2010, HWFG filed a Form 15 with the Securities and Exchange Commission certifying and providing notice of termination of registration under section 12(g) of the Securities Exchange Act of 1934, as amended, and a suspension of the duty to file reports under sections 13 and 15(d) of the Securities Exchange Act of 1934, as amended. With the filing of the Form 15, HWFG will not file an annual report on Form 10-K for the year ended December 31, 2009. HWFG expects to save approximately $250 thousand annually by not filing these reports. HWFG plans to release quarterly earnings reports on financial websites under its ticker and an annual report to shareholders. Los Padres Bank's unaudited financial reports are available on the FDIC website at HWFG plans to release its 2009 financial results on or about April 30, 2010 after the completion of its external audit and an Office of Thrift Supervision review. Quarterly earnings reports will be released approximately 60 days after quarter-end.

Harrington West Financial Group, Inc. is a $1.0 billion, diversified, financial institution holding company for Los Padres Bank, FSB. HWFG operates 14 full service banking offices on the central coast of California and the Phoenix Metro, Arizona. The Company also owns Harrington Wealth Management Company, a trust and investment management company with $159 million in assets under management or custody.
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Publication:Business Wire
Geographic Code:1U9CA
Date:Mar 26, 2010
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