First California Financial Group Inc. reported unaudited financial results for its third quarter and nine-month period ended September 30, 2009, reflecting a strengthened liquidity and balance sheet position. Net interest income increased 10.1% to $11.4 million for the 2009 third quarter from $10.3 million in the prior-year period. The company incurred a net loss of $136,000 or $0.04 per diluted share, compared with net income of $1.8 million or $0.15 per diluted share for its 2008 third quarter. Total interest income was $16,228,000, net interest income after provision for loan losses was $7,279,000, loss before provision for income taxes was $1,085,000 against total interest income of $15,548,000, net interest income after provision for loan losses of $10,048,000, income before provision for income taxes of $2,881,000 for the same period of the last year. Negative return on average assets was 0.04% against return on average assets of 0.63% for the same period of the last year. Negative return on average equity was 0.34% against return on average equity of 5.14% for the same period of the last year. For the nine months ended, the company reported net loss of $1,797,000 or $0.23 per diluted share on total interest income of $49,359,000 against net income of $5,234,000 or $0.45 per diluted share on total interest income of $48,236,000 for the same period of the last year. Net interest income before provision for loan losses was $33,963,000, net interest income after provision for loan losses was $23,667,000, loss before provision for income taxes was $3,695,000 against net interest income before provision for loan losses of $30,946,000, net interest income after provision for loan losses of $29,996,000, income before provision for income taxes of $8,576,000 for the same period of the last year. The company's net book value per common share was $11.78 at September 30, 2009, compared with $11.65 at year-end 2008.

First California Financial Group, Inc., Q3 2009 Earnings Call, Nov-12-2009

Effective November 2, 2009, First California Financial Group, Inc. announced that Sung Won Sohn, Ph.D., joined the Board of Directors of the company and its operating subsidiary, First California Bank, effective immediately. This appointment fills a vacancy at the holding company and the bank and returns the membership to 10 directors at First California and 11 at First California Bank. Dr. Sohn is widely recognized for his past role as Executive Vice President and Chief Economic Officer for Wells Fargo Banks. Previously, Dr. Sohn was President and Chief Executive Officer of Hanmi Financial Corporation from 2005 through 2007.