First California confirms hiring of financial advisor for strategic review

First California Financial Group confirmed that First California's board of directors has engaged Keefe, Bruyette & Woods as its financial advisor and Skadden, Arps, Slate, Meagher & Flom as its legal advisor to assist in a strategic review process, including an analysis and assessment of the company's existing business and strategic plan, and exploring other strategic alternatives, including the possible merger or business combination of the company with a third party. First California does not intend to disclose developments regarding the process unless and until the board of directors has approved a definitive course of action.