First Choice Bank Cerritos CA (FCBK: OTCQX U.S. Premier) | First Choice Bank Announces Completion of its Reorganization

OTC

First Choice Bank Announces Completion of its Reorganization

Dec 22, 2017

OTC Disclosure News Service

First Choice Bank, the “Bank” (OTCQX: FCBK), announced that, effective
as of the close of business on December 21, 2017, after having received
all regulatory and shareholder approvals necessary for the
reorganization of the Bank into a bank holding company structure, the
reorganization was completed. The Bank shall now be a wholly-owned
subsidiary of First Choice Bancorp (“Bancorp”), a bank holding company.
Effective December 26, 2017, Bancorp’s common shares will commence
trading on the OTC Markets under the new stock symbol “FCBP” (OTCQX:
FCBP).

All stock trading, filings and market-related information regarding
Bancorp will be reported under the new stock symbol. The shares of Bank
common stock have been exchanged for shares of Bancorp common stock on a
one-for-one exchange ratio basis. Investors who own shares of the Bank
in certificate form will receive information in the mail regarding any
steps necessary to complete the exchange of shares.

The Bank will continue to operate as First Choice Bank, and be managed
by its current Board of Directors and executive officers. The Bank will
continue to engage in the same business in which it presently is engaged
and will continue its operations out of its current locations.

President Chief Executive Officer Robert Franko said, “We are pleased
to have completed the formation of our holding company. Although no
assurances can be given, we believe that we can leverage this structure
for future growth initiatives and to enhance shareholder value in the
years to come.”

ABOUT FIRST CHOICE BANK

First Choice Bank, headquartered in Cerritos, California, is a community
focused financial institution, serving diverse consumers and commercial
clients and specializing in loans to small businesses, Private Banking
clients, Commercial and Industrial (CI) loans, and commercial real
estate loans with a niche in providing finance for the hospitality
industry. The Bank is a Preferred Small Business Administration (SBA)
Lender. Founded in 2005, First Choice Bank has quickly become a leading
provider of financial services that enable our customers to grow,
maintain strength, and achieve their business objectives. We strive to
surpass our clients’ expectations through our efficiency and
professionalism and are committed to being “First in Speed, Service, and
Solutions.”

The Bank’s web site is www.FirstChoiceBankCA.com.

Forward Looking Statements

Except for the historical information in this news release, the
matters described herein contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and are
subject to risks and uncertainties that could cause actual results to
differ materially. Such risks and uncertainties include: the credit
risks of lending activities, including changes in the level and trend of
loan delinquencies and charge-offs, results of examinations by our
banking regulators, our ability to maintain adequate levels of capital
and liquidity, our ability to manage loan delinquency rates, our ability
to price deposits to retain existing customers and achieve low-cost
deposit growth, manage expenses and lower the efficiency ratio, expand
or maintain the net interest margin, mitigate interest rate risk for
changes in the interest rate environment, competitive pressures in the
banking industry, access to available sources of credit to manage
liquidity, the local and national economic environment, and other risks
and uncertainties.
Accordingly, undue reliance should not be
placed on forward-looking statements. These forward-looking statements
speak only as of the date of this release. First Choice Bank and First
Choice Bancorp undertake no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date of this release or to reflect the
occurrence of unanticipated events. Investors are encouraged to read the
First Choice Bank and First Choice Bancorp financial information which
is available on our website.

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