Introducing The First Bi-Cultural Community Bank In The San Diego Area Vibra Bank Successfully Completes IPO - Announces July 23rd Grand Opening

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Just six months after announcing its IPO, and nearly 200 investors later, Vibra Bank has raised $14.8 million in capital and will celebrate its Grand Opening on July 23, 2008. Vibra Bank is a bi-cultural community bank with a focus on serving businesses in Chula Vista, the South Bay and the entire San Diego region.

This is an exciting day for Chula Vista

Today, Vibra Bank announces the successful close of its Initial Public Offering and the Grand Opening of its headquarters in Chula Vista.

Just six months after announcing its IPO, and nearly 200 investors later, Vibra Bank has raised $14.8 million in capital. Well in excess of the minimum required to open, this capital reflects the strong support that exists for Vibra Bank's concept of a bi-cultural community bank with a focus on serving businesses in Chula Vista, the South Bay and the entire San Diego region.

Vibra Bank will hold its Grand Opening on July 23, 2008, at its headquarters located at 530 Broadway in Chula Vista. Mayor Cheryl Cox and representatives from the Latino and South Bay business community will be on hand for a special ribbon cutting ceremony at 10 a.m., followed by food and festivities.

"This is an exciting day for Chula Vista," said Mayor Cox. "Vibra Bank is a unique bi-cultural community bank that will be a great asset to the residents and businesses of Chula Vista. We're thrilled to welcome them to the neighborhood."

Howard B. Levenson, Vibra Bank Investor and Board Member agreed, noting the San Diego community has gone without a bi-cultural bank for over 20 years. "This has been a long time
coming - and the fact that they've been able to accomplish this under the current market conditions is a testament to the strength of this venture."

"Vibra Bank is different from other banks because we're able to offer our customers a personalized banking experience to meet their specific needs." said Vibra Bank President and CEO Scott Parker. "We're committed to providing our customers with first class service that changes the way they view the customer/banker relationship. We want them to succeed and we'll do everything we can to help them move forward."

Vibra Bank will offer customers a wide range of services to meet their needs, including online banking and remote deposit (http://www.vibrabank.com). In addition, Vibra Bank is expected to generate a full range of loan products, while focusing on loans to businesses and business owners.

Their commercial and industrial lending products will include both secured and unsecured credit lines, term credit for fixed asset purchases, letters of credit and loans that qualify under the SBA guaranty programs. Commercial real estate lending products will include loans on retail, industrial and office properties. Vibra Bank will also offer carefully selected construction financing. A variety of consumer financing products will also be available to customers.

Based upon an initial capital level of $14.8 million, the Bank's lending limits can comfortably accommodate maximum credits to one borrower of approximately $3 million on a secured basis or $1.8 million on an unsecured basis. Loans which exceed the Bank's legal lending limit may be extended if participation agreements are in place with Vibra's correspondent banks or with other community banks in order to sell a portion of the loan and reduce the Bank's exposure. Vibra Bank will not engage in subprime single-family residential lending.

Vibra Bank's board includes notable names from the San Diego and Latino business and banking community, including Enrique Schon, Chairman of Vibra Bank's board and Founder of Mexico's Banco Mifel and President SARSAP, a major Tijuana commercial real estate development firm; former San Diego Police Chief David Bejarano; Howard B. Levenson, former Chairman and CEO of Western Financial Corporation/Co-Founder Southwest Community Bank; Jeffrey Davidow, President of the Institute of the Americas and former United States Ambassador to Venezuela and Mexico; Luis Maizel, Senior Managing Director and Co-Founder of LM Capital Management and LM Advisors, the second-largest Hispanic money management company in the United States; Max Freifeld, partner in Prediales Atenas S.A. de C.V., a real estate investment company, and partner, board member and consultant for Autos Orientales, S.A. de C.V., a Nissan automobile dealership in Mexico, and also Founder and former Director of Hipotecaria Nacional and Hipotecaria Vanguardia; Maru Davila, Chair of the Board and Chief Executive Officer of Corporacion de Telecommunications Regionales, a telecommunications company she founded in Mexico; and Gershon Jaffe, Certified Public Accountant and Chief Financial Officer of Jaffe Finance Company, LLC, which specializes in asset-based financing and leasing for professionals.

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Brendi Rawlin
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