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PACIFIC BANCORPORATION NET INCOME CLIMBS 59 PERCENT; IMPROVED OPERATIONS, ASSET QUALITY ACCOUNT FOR GAIN

 FRESNO, Calif., Jan. 20 /PRNewswire/ -- Pacific Bancorporation (NASDAQ-NMS: PABC),the holding company for Community First Bank of Bakersfield, Calif., today announced consolidated net earnings, after extraordinary item, of $679,046, or 36 cents per common share, for the year ended Dec. 31, 1992. This compares to $426,597, or 18 cents per share, in 1991.
 Earnings for the quarter ended Dec. 31, 1992, were $340,476 or 22 cents per common share as compared to a loss of $35,762, or 7 cents per share, for the same period last year.
 Henry Wheeler, president and chief executive officer of Pacific Bancorporation, stated that the dramatic improvement in the company's performance is directly attributable to improved bank operations and improved asset quality. "Nonperforming assets were reduced by $2,486,406 to $3,334,822 at Dec. 31, 1992, down 42.7 percent from the $5,821,228 reported for the same period last year. Non-performing assets currently represent 1.59 percent of total assets at Dec. 31, 1992, compared to 2.82 percent for 1991."
 Non-recurring merger expenses for 1992 totaled $319,562 as compared to $193,772 for 1991.
 John Tait, chairman and chief executive officer of Community First Bank, indicated, "Noninterest expenses were down by $937,417 for the year and earning assets increased to 88.3 percent from 85.4 percent during 1992. The bank's capital ratios also continue to improve with Tier-1 core capital was 7.14 percent."
 Tait further indicated that total assets at year-end were $209,047,354, compared to $206,505,657 in 1991.
 Pacific Bancorporation's merger with Vallicorp Holdings Inc. continues to move forward. The anticipated merger should be completed by mid-1993, subject to shareholder and regulatory approval. The combination is expected to enhance Pacific's institutional strength, marketing focus, and operational cost effectiveness even further which will be realized through growth in market share as well as enhanced earnings.
 Bakersfield-headquartered Community First Bank serves the San Joaquin Valley and adjacent areas. Pacific Bancorporation is traded on NASDAQ National Market System under the symbol PABC.
 COMMUNITY FIRST BANK
 Unaudited Consolidated Financial Data
 (Dollars in thousands, except share data)
 Three Months Ended Year Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Statement of Income Data
 Net interest income $3,179 $2,913 $11,704 $11,931
 Provision for possible
 credit losses 381 --- 740 300
 Other income 882 817 3,335 3,318
 Other expenses 3,263 3,841 13,488 14,426
 Income taxes (net NOL) 77 (75) 132 97
 Net income (loss) 340 (36) 679 427
 Balance Sheet Data
 Total assets $209,047 $206,506
 Total loans 146,021 137,132
 Total deposits 193,060 189,782
 Stockholders' equity 11,256 10,758
 Share Data
 Earnings per share $.36 $.18
 Book value 8.31 7.96
 Selected Financial Ratios
 Return on average total assets .34 pct .21 pct
 Return on average equity 6.11 pct 3.93 pct
 Net interest margin 6.70 pct 6.98 pct
 Non-interest expenses to average assets 6.73 pct 7.13 pct
 Allowance for possible credit
 losses to total loans 1.33 pct 1.37 pct
 Net charge-offs to total loans .45 pct .10 pct
 Nonperforming assets to total loans and OREO 2.26 pct 4.11 pct
 Nonperforming assets to total assets 1.59 pct 2.82 pct
 Risk-based capital 10.86 pct 10.32 pct
 -0- 1/20/93 R
 /CONTACT: Henry Wheeler, president and CEO of Pacific Bancorporation, 209-221-7381; or Gary Strong, of Financial Relations Board, 312-266-7800, for Pacific Bancorporation/
 (PABC)


CO: Pacific Bancorporation; Community First Bank ST: California IN: FIN SU: ERN

BP -- LA022R -- 6923 01/20/93 13:20 EST
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Date:Jan 20, 1993
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