Sunwest Bank Announces Reduced Filing Requirements and Stock Repurchase Plan

Business Wire, Sept 21, 2007

TUSTIN, Calif. -- Sunwest Bank ("Bank") (OTCBB:SWBC) announced today that its Board of Directors, during their regularly scheduled meeting held on Tuesday, September 18, 2007, unanimously adopted a resolution to suspend its filing obligations under Section 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Bank currently has 17,264 shares of common stock issued and outstanding, which are held of record by less than three hundred persons. By suspending its filing obligations under Section 15(d) of the Exchange Act, the Bank will no longer be required to file certain reports under the Exchange Act, including Forms 8-K, 10-Q and 10-K. The Bank's Board of Directors believes that by suspending these filing obligations, the Bank will avoid certain costs associated with complying with the Sarbanes-Oxley Act of 2002. The Bank's common stock will still be eligible for quotation on the OTC Bulletin Board.

Additionally, at this regularly scheduled meeting, the Bank's Board of Directors unanimously adopted a resolution to implement a stock repurchase plan (the "Plan"), which was approved by the appropriate regulatory agencies. Under the Plan, the Bank is authorized to purchase, during the twelve-month period beginning on September 18, 2007, up to an aggregate amount of $7,745,000 worth of the Bank's issued and outstanding common stock, which represents approximately 3,130 shares, or 18% of the Bank's total issued and outstanding shares of common stock, based on the most recent market price.

Trading activity in the Bank's common stock in the over-the-counter market is light and liquidity is limited. Accordingly, the Board of Directors believes that repurchasing shares of its common stock, at market or negotiated prices acceptable to the Bank, would be in the best interest of the Bank and its shareholders and, in particular, those shareholders seeking to liquidate or reduce their investment in the Bank. The implementation of the Plan will not impair the Bank's current "well-capitalized" institution rating, as its regulatory capital level will continue to exceed the minimum requirements established for a well-capitalized institution by the applicable regulators.

Sunwest Bank is a leading provider of banking services to small to middle-market businesses throughout Southern California. Headquartered in Tustin with locations in Newport Beach, Laguna Hills and Anaheim, Sunwest Bank offers customized banking solutions with the highest level of personal service. Sunwest Bank has expertise with homeowners' associations and property management companies, lockbox processing, healthcare and life science professionals, women-owned businesses, and residential and commercial real estate developers. Established in 1970, Sunwest Bank is the oldest commercial bank in Orange County. Sunwest Bank's website is www.sunwestbank.com.