Greg Bruno Daniel Glotzbach Rajani Meka Drew Osika First PacTrust Bancorp May 3, 2011

Agenda Industry Overview Industry Outlook Key Industry Drivers Porter’s 5 Forces Recent Industry Performance Company Overview Financial Highlights SWOT Analysis Strategy & Management Team Comparable Analysis Valuation

Savings Banks & Thrift Collects retail deposits from general public -Preferably in CDs or saving accounts Provides basic banking services -Checking accounts -ATMs Originates first mortgages -Secured by owner occupied real estate Home equity loans Limited unsecured loans

Commercial Banking Primarily deals with deposits & loans from corporations Construction lending -Used to finance construction on Real Estate Business lending -Loans secured by business assets Commercial Lending -Warehouses, hotels, office buildings, etc.

Key Industry Drivers Total deposits -Deposits are liabilities, which are then lent out at a spread Home Prices -Rising Home prices increases available equity Prime Rate / Yield Curve -Low prime rate entices loan demand -Steep yield curve increases bank profits Nonperforming Loans -Destroyer of bank equity

Porter’s 5 Forces of Thrift Industry Threat of new entrants: MODERATE – Entry more or less favorable depending on region – Pro: Growth of online banking and leasing locations limit large capital investment – Con: High regulation and decreasing profits discourage entry in most places Threat of substitutes: HIGH – Commercial banks, credit unions, government agencies, and mortgage brokers all offer competing financial services

Porter’s 5 Forces of Thrift Industry Supplier power: HIGH – Depositors have shifted more towards reliability which increases thrifts’ need for strong community relationships – Deposits have moved to large commercial banks, which are seen as more stable Buyer power: LOW – Borrowers have little influence because rates are dependent on credit history and state of broader economy Rivalry: HIGH – Low concentration within industry though intense outside competition – Fewer deposits for players to fight over

Recent Industry Performance Savings Banks & Thrifts Industry Revenue

Deposits

California Housing Price Index

Mortgage Rates Data Source: Federal Reserve Data Download

2yr-10yr Spread on US Debt Data Source: Bloomberg

Nonperforming Loans

Nonperforming Loans - Pacific

First Pactrust Bancorp Holding company for Pacific Trust Bank Founded in 1941, headquartered in Chula Vista, California Financial Services through 9 banking offices in San Diego and Riverside counties Offers retail and business deposit accounts Loan portfolio : 78.7% of Total assets, $678.2 million Source:

Company Highlights

CAMEL SUMMARY Source:

Financial Highlights Year Ending in, Total Revenue Growth Over Prior Year (0.23%) (14.82%) (34.80%) 14.88% 98.08% EBIT (0.529) (0.999) Margin % 22.85% 16.85% (4.62%) (7.59%) 10.83% Net Income (0.529) (0.999) Margin % 22.85% 16.85% (4.62%) (7.59%) 10.83% Total Assets Growth Over Prior Year 7.04% (4.16%) 13.14% 1.99% (3.61%) Source: CapIQ

Key Ratios Year Ending in, ROA0.59%0.38%(0.06)%(0.11)%0.32% ROE5.91%3.54%(0.62)%(1.03)%2.68% Dividend Payout Ratio58.90%109.30%n/a 56.90% Interest Rate Spread2.11%1.89%2.64%3.25%3.60% Net Interest Margin2.44%2.27%2.92%3.39%3.68% Ratio of Operating Expense to Assets1.70%1.81%1.64%1.78%2.52% Efficiency Ratio65.26%73.13%53.92%52.13%63.41% Avg. interest-earning assets to Avg. interest bearing liabilities109.15%109.84%109.36%107.03%106.31% Non-performing Assets to Total Assets0.24%1.82%4.15%3.24%3.07% Equity to Assets10.00%10.71%10.45%10.87%11.97% Source: Pg. 45http://

FPTB DuPont Analysis Source: Capital IQ

Recent Stock Performance PEG( 5 year expected ) is 1.09 vs Industry at 1.95 Source:

Strategy so far Asset & Liability Management Originating & purchasing adjustable-rate mortgage loans Originating shorter-term loans Managing deposits to establish stable relationships Using FHLB advances to align maturities and re-pricing terms Attempting to limit the % fixed rate loans Growth Strategy: Acquisitions Banks with less than $500 million to $1 billion in Assets having difficulties in achieving profitability Distressed banks Establishing stable customer relationships to increase deposits

Key Ratios Source: First Pactrust Bancorp Has an additional $10 million over the reserve requirements by Fed

SWOT Analysis StrengthWeakness Access to capital and above well capitalized minimum requirements Expansion completely dependent on demand in San Diego and Riverside counties Green AccountsFalling real estate prices Strong Management TeamDefaults continue to pose serious problems OpportunityThreat Atleast 150 potential targets with less than $1billion assets Trend of moving from thrifts towards commercial banks Increase loans in CRE, construction and C&I asset classes Lower Interest rates FDIC regulations to increase consumer confidence

Growth Strategy Organic Growth Increase market penetration within bank’s primary footprint Diversify Portfolio and grow by originating high quality commercial real estate loans Traditional M&A Explore Traditional Acquisitions Focus on banks with certain characteristics Strategic Benefits to franchise development FDIC – Based M&A Pursue strategic transactions with FDIC assistance Acquire attractive assets from the FDIC

Keys to Success Scalable Business Management Team Strong Balance Sheet Access to Capital Market Opportunity Mission Statement: “To be the premier community bank in Southern California serving the needs of growing families, high net worth individuals, professionals, small to mid sized businesses and their owners”

Management Team Greg Mitchell: President & CEO – First Pac Trust Bancorp Richard Herrin: Chief Administrative Officer Matt Bonaccordso: Chief Credit Officer Hans Ganz: President & CEO – Pacific Trust Bank

Business Plan 2011 Goals Grow core earnings Open 3-5 de novo branches in Southern California Complete $ million of M&A Activity Purchase high quality assets at distressed prices 5 Year Objectives 4% + NIM 1.2% ROAA Reach critical mass in each of LA, Orange, and San Diego Counties Provide dividend growth that exceeds inflation

Comparables As of April 16, 2011 Market Cap ($ millions) Basic EPSTBV / Share Provident Financial Pacific Premier Bancorp Riverview Bancorp 68.1 (0.1) 3.6 Timberland Bancorp 39.4 (0.3) 9.57 Malaga Financial RMG Capital 16.9 (0.4) BofI Holding First PacTrust Bancorp

Implied Share Price P / Diluted EPSP / TBV High $20.70 $35.52 Low $7.10 $6.46 Average $11.84 $14.24 Current FPTB Stock Price: $14.60

Final Valuation