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First Choice Bank's 2020 Charity Fundraising

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CERRITOS, CALIFORNIA, Dec. 07, 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's fundraising efforts for 2020 will be directed to 18 local charities in the Los Angeles, Orange and San Diego County areas. These organizations, helping those most in need in our communities, are facing even higher demand for services during these unprecedented times. Thanks to the tremendous generosity of First Choice clients, employees, directors and friends, along with dollar-for-dollar matches by the Bank and the Much is Given Foundation, this year's contribution to the selected nonprofit organizations totals $60,000.

In light of the COVID-19 pandemic, First Choice made the difficult decision to cancel its Annual Charity Golf Tournament, which began back in 2010. For the last decade, the yearly tournament has supported various charitable organizations in local neighborhoods as they provide assistance to families and individuals in need of help. "One of the Bank's core beliefs is to always look for opportunities to make a positive impact on the communities where we live and work, not because it is required, but because it is the right thing to do," said Chairman Peter Hui. Despite the obstacles for an in-person event this year, there was still a critical need to raise money to support these charities, so an online fundraising effort was put into place. First Choice President & CEO Robert Franko commented, "We missed seeing all of our friends at the tournament this year, but we are proud of the fundraising response we received, especially given the impact the pandemic has had on our donors. We are grateful for so many supporting this year's charities and look forward to getting together again at FCB's 2021 tournament to raise even more money for those in need."

The 18 non-profit organizations this year were: Asian Pacific Community Fund, Blind Children's Learning Center, C5 Los Angeles, Caterina's Club, Central City Neighborhood Partners, East West Players, The Entrepreneur Educational Center Inc., Food Finders, Haven Neighborhood Services, Joy Youth Services, Kitchens For Good, Milal- The American Wheat Mission, National Asian American Coalition, Orange County Community Housing Corporation, Pomona Valley Habitat for Humanity, Saddleback Church Anaheim Food Pantry, The Jacobs & Cushman San Diego Food Bank, and Weingart East Los Angeles YMCA. More information on each organization can be found on the Bank's website: https://www.firstchoicebankca.com/annual-charity-golf-tournament.

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


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