First Choice Bank Named in 2020 Best Banks to Work For by American Banker

CERRITOS, CALIFORNIA, Oct. 29, 2020 (GLOBE NEWSWIRE) -- (Nasdaq Capital Markets: FCBP) - First Choice Bancorp, the holding company for First Choice Bank (the “Bank” or “First Choice”), today announced that the Bank has been named one of American Banker’s Best Banks to Work For in 2020. For the third year in a row, First Choice Bank has the distinction of being the only bank located in Southern California to be named to this prestigious list and is one of only two banks in the entire state to be recognized. Full results of this year’s program are available online at American Banker (https://www.americanbanker.com/list/best-banks-to-work-for) and in the October issue of American Banker Magazine.

“First Choice Bank being named one of American Banker’s 2020 Best Banks to Work For is truly an honor and means even more because we received it based on our employees’ own responses,” said President & CEO Robert Franko. “Our team has worked harder than ever this year, putting in long hours to assist our clients with Paycheck Protection Program and Main Street Lending Program loans to help save their businesses and thousands of jobs for their employees during this pandemic, as well as to volunteer their time to help local charitable organizations assisting those most impacted by COVID-19. We are incredibly proud of this exceptional group of individuals and their continued efforts. They have really gone above and beyond this year,” Mr. Franko added.

The Best Banks to Work For program, which was initiated in 2013 by American Banker and Best Companies Group, identifies, recognizes and honors U.S. banks for outstanding employee satisfaction. Determining the Best Banks to Work For involves a two-step process. The first step involves an evaluation of participating companies’ workplace policies, practices, and demographics. In the second step, employee surveys are conducted to directly assess the experiences and attitudes of individual employees with respect to their workplace. The combined scores determine the top banks and the final ranking.

Chairman Hui noted, “Even with our considerable growth over the last few years, each and every First Choice employee is an important and critical partner of the Bank. Given all of the challenges this year has brought, we are heartened to hear that the work environment we have provided continues to be a place where our team members can thrive. It highlights the Bank’s core commitment to serve our employees, clients, shareholders and communities in the best ways possible.”

Best Companies Group’s annual ranking recognizes the financial institutions that have leadership teams that continually put their employees first and make having a collaborative workplace a priority. “One of the critical factors in a bank's success is how it treats its employees. This year's list honors those institutions which have gone above and beyond to invest in employees' personal and professional growth,” said Alan Kline, editor in chief of American Banker.

About First Choice Bancorp

First Choice Bancorp, headquartered in Cerritos, California, is the sole shareholder of and the registered bank holding company for, First Choice Bank. As of September 30, 2020, First Choice Bancorp had total consolidated assets of $2.26 billion. First Choice Bank, also headquartered in Cerritos, California, is a community-based financial institution that serves primarily commercial and consumer clients in diverse communities and specializes in loans to small- to medium-sized businesses and private banking clients, commercial and industrial loans, and commercial real estate loans, with a specialization in providing financial solutions for the hospitality industry. First Choice Bank is proud to be designated by the FDIC as a Minority Depository Institution (MDI) and to be certified through the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI). First Choice Bank is a strong believer in social justice and equality and is proud of its cultural- and gender-diverse workforce. As of September 30, 2020, more than 71% of the Company's total workforce identified as ethnic minorities and more than 66% of its workforce and more than 50% of its senior management identified as female. First Choice Bank is a Preferred Small Business Administration (SBA) Lender. First Choice Bank conducts business through nine full-service branches and two loan production offices located in Los Angeles, Orange and San Diego Counties. 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, personalized services and financial solutions and professionalism and are committed to being “First in Speed, Service, and Solutions.” First Choice Bancorp stock is traded on the Nasdaq Capital Market under the ticker symbol “FCBP.”

First Choice Bank’s website is www.FirstChoiceBankCA.com.

FORWARD-LOOKING STATEMENTS

The statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, yields and returns, loan diversification and credit management, shareholder value creation and tax rates. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. Actual results may differ materially from those set forth in the forward-looking statements due to a variety of factors, including the risk factors described in documents filed by the Company with the Securities and Exchange Commission.

The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company's earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

CONTACT

First Choice Bank
Robert M. Franko, 562.345.9241
President & Chief Executive Officer

Khoi D. Dang, 562.263.8336
Executive Vice President & General Counsel