Market Overview

Pacific City Financial Corporation Announces Stock Repurchase Plan

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Pacific City Financial Corporation (the "Company") (NASDAQ:PCB), the
bank holding company for Pacific City Bank, announced that on March 28,
2019, its Board of Directors approved the repurchase of up to $6.5
million of the Company's common stock through March 27, 2020.

Under the stock repurchase program, the Company may purchase shares of
its common stock through various means such as open market transactions,
including block purchases, and privately negotiated transactions. The
number of shares repurchased and the timing, manner, price and amount of
any repurchases will be determined at the Company's discretion. Factors
include, but are not limited to, stock price, trading volume and general
market conditions, along with the Company's general business conditions.
The program may be suspended or discontinued at any time and does not
obligate the company to acquire any specific number of shares of its
common stock.

As part of the stock repurchase program, the Company is entering into a
trading plan adopted in accordance with Rule 10b5-1 of the Securities
Exchange Act of 1934, as amended. The 10b5-1 trading plan would permit
common stock to be repurchased at a time that the Company might
otherwise be precluded from doing so under insider trading laws or
self-imposed trading restrictions. The 10b5-1 trading plan is
administered by an independent broker and is subject to price, market
volume and timing restrictions.

About Pacific City Financial Corporation

Pacific City Financial Corporation is the bank holding company for
Pacific City Bank, a California state chartered bank, offering a full
suite of commercial banking services to small to medium-sized
businesses, individuals and professionals, primarily in Southern
California, and predominantly in Korean-American and other minority
communities.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. These
forward-looking statements represent plans, estimates, objectives,
goals, guidelines, expectations, intentions, projections and statements
of our beliefs concerning future events, business plans, objectives,
expected operating results and the assumptions upon which those
statements are based. Forward-looking statements include without
limitation, any statement that may predict, forecast, indicate or imply
future results, performance or achievements, and are typically
identified with words such as ‘‘may,'' "could," "should," "will,"
"would," "believe," "anticipate," "estimate," "expect," "aim," "intend,"
"plan," or words or phases of similar meaning. We caution that the
forward-looking statements are based largely on our expectations and are
subject to a number of known and unknown risks and uncertainties that
are subject to change based on factors which are, in many instances,
beyond our control. These and other important factors are detailed in
various securities law filings made periodically by the Company, copies
of which are available from the Company without charge. Actual results,
performance or achievements could differ materially from those
contemplated, expressed, or implied by the forward-looking statements.
Any forward-looking statements presented herein are made only as of the
date of this press release, and we do not undertake any obligation to
update or revise any forward-looking statements to reflect changes in
assumptions, the occurrence of unanticipated events, or otherwise,
except as required by law.

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