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Beach Business Bank Announces Third Partial Repayment of TARP Investment

March 7, 2012 - Manhattan Beach, CA

Beach Business Bank (OTCBB: BBBC) (the "Bank") has announced that on March 7, 2012, it entered into a third letter agreement with the United States Department of the Treasury to which the Bank repurchased 1,500 of the remaining 3,000 shares of the Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock") issued to the US Treasury. Previously, the Bank had repurchased 1,500 shares on July 6, 2011 and 1,500 shares on October 19, 2011 of the original 6,000 shares of the Series A Preferred Stock that the Bank had issued to the Treasury on January 30, 2009 under the TARP Capital Purchase Program of the Emergency Economic Stabilization Act of 2008. The Bank paid $1.5 million to repurchase the preferred shares along with the accrued dividend for the shares repurchased.

Following the repurchase, the US Treasury will continue to own $1.5 million of the Bank's Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, as well as 300 shares of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B (the "Series B Preferred Stock"). The Bank will continue to pay dividends on the remaining shares of Series A and Series B Preferred Stock. The Bank expects that the remaining shares of Series A and Series B Preferred Stock will be repurchased, subject to regulatory approval, in conjunction with the closing of the Merger between Beach Business Bank and First PacTrust Bancorp, Inc., which was approved by the Bank's shareholders late last year and is expected to close in the second Quarter of 2012.

"We are very pleased to announce our third partial repurchase of preferred stock. The Bank remains profitable and Well Capitalized and hopes to complete its plan to repurchase all of the Series A and Series B Preferred Stock, subject to regulatory approval," commented James Gray, Director and Chairman of the Bank.

Robert Franko, President and Chief Executive Officer, noted, "As each partial repurchase of TARP is subject to regulatory approval, we believe that their continued approval is recognition of the overall financial strength and strong capital position of the Bank."

Beach Business Bank is headquartered in Manhattan Beach, and has offices in Long Beach, Torrance, and Orange County, CA. The Bank is first and foremost a community business bank serving Southern California residents and businesses. The Bank also has a division named The Doctors Bank®, which serves physicians and dentists nationwide. In addition, Beach Business Bank provides loans to small businesses, focused around the SBA lending programs. For more information on the Bank, please visit or call 866-862-3878.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

The financial information in this press release is based on our unaudited financial results. Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief, and current expectations of the Bank, its directors, or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements are subject to risks and uncertainties and therefore the Bank's actual results may differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that the Bank is subject to include, but are not limited to, risks related to the local and national economy, including fluctuations in interest rates and costs and changes in economic policy; the ability of the Bank to perform in accordance with its plans; competition; regulatory matters; and other risks detailed in its filings with the State of California Department of Financial Institutions and the Federal Deposit Insurance Corporation. The Bank cautions readers not to place undue reliance on any forward-looking statements. The Bank does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

Beach Business Bank
Melissa Lanfre
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Robert Franko
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