First California Financial Group (FCAL)

[Enterprising Investor]

FCAL Announces New Customer for Its EPS Division (3/07/12)

WESTLAKE VILLAGE, CA--(Marketwire - Mar 7, 2012) - First California Financial Group, Inc. (NASDAQ: FCAL), the holding company of First California Bank, today announced that its Electronic Payments Services (EPS) division has been awarded a five-year contract with Santa Barbara Tax Products Group (TPG).

Under the contract, EPS has developed an ACH electronic tax refund transfer program aligned with a prepaid card program. Unlike refund anticipation loans where the amount received may differ from the refund amount, EPS's refund transfer program provides TPG customers access to their tax refund amount quickly and easily, while avoiding check-cashing fees.

"This contract award helps position First California Bank as one of the leading providers of Refund Transfers," said Ron Santarosa, chief operating officer and chief financial officer of First California Financial Group. "Our EPS division has performed extremely well since we acquired the business in April 2011. This new relationship and others EPS is formulating will double revenues for the division without adding significant expenses."

"TPG is the largest preparer of Refund Transfers in the U.S., with more than a 40 percent market share," said Jim Tingey, president of the EPS division. "Over the course of the contract, we expect TPG to generate in excess of three million tax return refund transactions. This collaboration allows TPG to diversify its banking relationships, help grow its business, and through the Diamond Plus Prepaid Card provide added convenience for TPG's tax return preparers and customers."

"As we are well into the 2012 tax season, First California Bank has proven its reputation is well deserved as an emerging leader in Southern California banking," said Rich Turner, chief executive officer of the Santa Barbara Tax Products Group. "This relationship was instrumental in helping Santa Barbara Tax Products Group expand its servicing capacity, preserve business continuity and launch the Diamond Plus Prepaid Card product."

About Santa Barbara Tax Products Group (TPG)
Santa Barbara Tax Products Group (TPG) was founded in 2010 upon purchasing the Tax Products Division of Santa Barbara Bank & Trust. TPG offers quality financial products to the e-file industry that satisfy consumers' needs, are priced fairly and provide true value. TPG is investing in long term relationships by providing tax professionals with a program to help retain and grow business for years to come.

About First California
First California Financial Group, Inc. (NASDAQ: FCAL) is the holding company of First California Bank. Founded in 1979 and with nearly $2 billion in assets, First California serves the comprehensive financial needs of small- and middle-sized businesses and high net worth individuals throughout Southern California. Led by an experienced team of bankers, First California is committed to providing the best client service available in its markets, offering a full line of quality commercial banking products through 19 full-service branch offices in Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo and Ventura counties. The holding company's website can be accessed at www.fcalgroup.com. For additional information on First California Bank's products and services, visit www.fcbank.com.

http://www.marketwire.com/press-release/first-california-announces-new-customer-for-its-eps-division-nasdaq-fcal-1628989.htm