Los Angeles - LOS ANGELES -- Security Pacific Bank of Los Angeles has announced that Mr. V. Charles Jackson has been elected President and Chief Executive Officer, effective May 7, 2007. Mr. Jackson was previously President and CEO of Community Bank headquartered in Pasadena, California. Prior to Community Bank, Mr. Jackson had extensive executive management experience at Lipper and Co. Investment Bankers and Wealth Management, Mellon Bank, Chase Manhattan Bank, and Continental Illinois National Bank and Trust Company.

Charlie Jackson succeeds Fred Jensen who is leaving Security Pacific to spend more time with family and to pursue other endeavors.

Ezri Namvar, Chairman of the Board, commented, "We are very pleased to welcome Charlie Jackson to Security Pacific Bank. His extensive and successful career is the perfect ingredient to assure that Security Pacific will continue dynamic growth as we provide current and new customers with quality products and outstanding service."

Mr. Namvar continued, "We also wish to thank Fred Jensen for his committed efforts to the Bank over the past six years. Security Pacific Bank grew significantly and profitably, achieving super premier status under his direction."

Security Pacific Bank has total assets of $590 million and is headquarter at Wilshire Bundy Plaza in West Los Angeles. It has additional offices in Westwood, Downtown Los Angeles, Ontario and Seal Beach.