CalWest Bancorp Announces Financial Results as of December 31, 2018

CalWest Bancorp (OTCBB: CALW), the holding company for CalWest Bank, today announced the consolidated financial results for the fourth quarter and year ending December 31, 2018.

Significant items for the period include:

• Net Interest Income improved 22% year-over-year
• Non-Interest Expenses increased 17% year-over-year, reflecting increased staffing and locations
• Net Income improved 5% year-over-year
• The year-over-year increase in deposits was centered in DDA and MMA, helping to control our cost-of-deposits
• Allowance for Loan Losses to Gross Loans was 1.56%

"While Non-Interest Expenses increased during the second half of the year due to expanding our staff and improving our branch locations, these strategic initiatives are helping drive our growth in loans and deposits,” noted Glenn Gray, President and CEO of CalWest Bancorp and CalWest Bank.

"During FY 2018 we expanded our lending activity to include construction loans and loans to Homeowners Associations. These loans, as well as C&I loan commitments have helped increase our unfunded commitments year-over-year by $4 million (15%) to $29.5 million. We expect usage under those commitments to be one of the catalysts for loan growth in FY 2019.”

CalWest Bancorp is the parent company of CalWest Bank, a community bank recognized for its exemplary service to entrepreneurs and high net worth individuals located throughout Southern California. The Bank serves the business community through its four branches located in Rancho Santa Margarita, Irvine, Huntington Beach and Redlands, and loan production offices in Laguna Niguel and Vista.

This release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact Bancorp's earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe,” "expect,” "intend,” "estimate” or words of similar meaning, or future or conditional verbs such as "will,” "would,” "should,” "could” or "may.” Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, the economic uncertainty in the United States and abroad, changes in interest rates, deposit flows, real estate values, expected future cash flows on acquired loans, and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory and technological factors affecting Bancorp's operations, pricing, products and services. Bancorp undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

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