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First Choice Bank New Hire- Steve Tsoflias as Senior Vice President

CERRITOS, CALIFORNIA, May 01, 2019 (GLOBE NEWSWIRE) -- (Nasdaq Capital Markets: FCBP) - First Choice Bancorp, the holding company for First Choice Bank (the “Bank” or “First Choice”), has announced the appointment of Steve Tsoflias as Senior Vice President of First Choice Bank, reporting to President & CEO Robert Franko.

Mr. Tsoflias has 30 years of banking and commercial finance experience. During his career, he has originated and/or underwritten in excess of $1.2 billion in transactions for institutional and entrepreneurial owners. His deal experience consists of commercial real estate transactions for office, retail, self-storage, industrial, hospitality and multi-family; loan structures including amortizing mini perm loans, bridge loans and mezzanine financing; and commercial finance transactions such as working capital lines of credit, cash flow, asset-based loans for the purpose of DIP, acquisition financing, and refinancing of turnarounds. Mr. Tsoflias has also managed a team of underwriters. While working in the banking industry, Mr. Tsoflias created and managed a 1031 Exchange Department. Additionally, he created a small commercial finance company which he subsequently sold in 2017.

“Steve brings a wealth of experience to the First Choice Bank team. We are very happy to welcome him knowing that our clients are in good hands,” said Mr. Franko. He added, “Steve shares the same passion for community growth and success as all of us here at the Bank and will be a tremendous asset in serving our customers.”

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 March 31, 2019, First Choice Bancorp had total consolidated assets of $1.65 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 with a specialization in providing financial solutions for the hospitality industry. First Choice Bank is a Preferred Small Business Administration (SBA) Lender. First Choice Bank conducts business through 11 full service branches, and 1 lending office 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 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, tax rates and the impact of the acquisition of Pacific Commerce Bancorp and Pacific Commerce Bank. 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
Robert M. Franko, 562.345.9241
President & Chief Executive Officer