1st Pacific Bancorp restated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the reported results should reflect an additional provision for the allowance for loan losses of $8.8 million and to increase the valuation allowance for deferred tax assets by $5.3 million. The company restated a net loss of approximately $15.9 million or $3.19 diluted loss per share rather than the previously reported net loss of $1.9 million or $0.37 diluted loss per share. For the nine months, the company restated a net loss of approximately $17.2 million or $3.45 diluted loss per share rather than the previously reported net loss of $3.1 million or $0.63 diluted loss per share. The company on January 21, 2010, appointed Paula J. Berggren as executive vice president and chief credit officer. Ms. Berggren is expected to serve on the Banks Loan Committee. Ms. Berggren brings vast experience in community bank credit administration, including banks challenged by adverse economic conditions. Most recently, from 2006 to 2009, Ms. Berggren served as executive vice president and chief credit officer of First Business Bank, which previously operated under a consent order. The company announced preliminary results for the fourth quarter and year and quarter ended December 31, 2009. For the quarter, the company reported net income of approximately $1.4 million, primarily attributable to $1.6 million in tax benefits associated with a new tax law. For the year, the company reported a net loss of approximately $15.8 million.

1st Pacific Bancorp notified the NASDAQ Stock Market on January 27, 2010, of its intent to file a Form 25 with the Securities and Exchange Commission on February 8, 2010, to delist its Common Stock, no par value, from NASDAQ effective 10 days after the filing of the Form 25. The firm said, We have decided to voluntarily delist from NASDAQ as part of our overall strategy of conserving resources and improving cost effectiveness. As previously disclosed on December 11, 2009, we received two letters from NASDAQ notifying us that we are failing to meet the minimum bid price requirement of $1 per share for continued listing, and the minimum market value of publicly held shares requirement of at least $5,000,000. Pursuant to the Form 25, our Common Stock will no longer be traded on NASDAQ as of the tenth day after the Form 25 is filed, which we expect to be February 18, 2010. We are working with a market maker to have our Common Stock quoted on the OTC Bulletin Board. We will continue to file periodic reports with the Securities and Exchange Commission pursuant to the requirements of Section 12(g) of the Securities Exchange Act of 1934, as amended.

1st Pacific Bancorp and 1st Pacific Bank of California announced it has appointed veteran banker John McGrath to be its President and Chief Executive Officer, effective Jan. 1, 2010. Carlson noted that he will resign as President and CEO as of Dec. 31, 2009, but will continue on in his role as Chairman of the Board of Directors of the company. McGrath is a 40-year banking veteran with deep expertise in managing banks challenged by adverse condition. He recently joined the company as a management consultant.

1st Pacific Announces Preliminary Yearend Results; Appoints New Chief Credit Officer

1ST PACIFIC BANCORP Files SEC form 8-K, Other Events, Financial Statements and Exhibits

1st Pacific Appoints New CEO; Announces Regulatory Orders, NASDAQ Notification of Delinquency

First Business Bank, N.A. and 1st Pacific Bancorp Announce Termination of Planned Merger

1ST PACIFIC BANCORP Files SEC form 8-K, Termination of a Material Definitive Agreement, Change in Directors or Princi

1ST PACIFIC BANCORP Files SEC form 8-K, Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Other Events

1st Pacific Appoints New CEO; Announces Regulatory Orders, NASDAQ Notification of Delinquency

1st Pacific Bancorp Announces Annual Meeting Dates

1ST PACIFIC BANCORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Change in Directors or Principal

1ST PACIFIC BANCORP Files SEC form 8-K, Termination of a Material Definitive Agreement, Change in Directors or Princi

1ST PACIFIC BANCORP Files SEC form 8-K, Other Events, Financial Statements and Exhibits

First Business Bank, N.A. and 1st Pacific Bancorp Announce Termination of Planned Merger

1ST PACIFIC BANCORP Files SEC form 8-K, Change in Directors or Principal Officers

1ST PACIFIC BANCORP Files SEC form 10-Q, Quarterly Report

1ST PACIFIC BANCORP Files SEC form 8-K, Other Events, Financial Statements and Exhibits

1ST PACIFIC BANCORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Termination of a Material Definit