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PCBP News Premier Commercial Bancorp Announces the Opening of New Bank in Arizona

MESA, Ariz.--(BUSINESS WIRE)--Ash Patel, president of Premier Commercial Bancorp (OTCBB:PCBP), announces the opening of Premier Commercial Bank, Arizona. Arizona’s newest bank, a subsidiary of Premier Commercial Bancorp, officially opened its doors Friday, November 10 at 1910 South Stapley Drive in Mesa, Ariz. Patel also announced the appointment of Steven Ellsworth, Denny Barney and Brent Payne as founders of Premier Commercial Bank, Arizona. The Arizona bank has been initially capitalized with $10 million to support its growth and operations.

“Premier Commercial Bancorp’s expansion into the Arizona marketplace will be heavily supported by local leaders that have a vested interest in the growth and success of the community,” said Patel, who also serves as the bank’s chief executive officer. “The appointment of Steven Ellsworth, Denny Barney and Brent Payne signifies Premier Commercial Bancorp’s commitment to identifying prominent local business leaders who will lend their expertise and knowledge of both the industry and the community to ensure that the bank’s services and product offerings closely align with the needs of the community and local businesses.”

Ellsworth, who will serve as executive vice president and chief operating officer, brings 20 years of experience in lending and management to Premier Commercial Bank, Arizona. He will focus his attention on real estate securitization and general business development. Prior to joining the bank, Ellsworth developed a successful national real estate group in a large regional bank. A Mesa resident, Ellsworth is a sixth generation native of Arizona. He earned his bachelor’s degree in finance from Brigham Young University and master’s degree from Texas A&M in agricultural economics.

Barney will serve on Premier Commercial Bank, Arizona’s board of directors and contribute his real estate investment and development experience to leading the bank’s growth. Barney has a rich history of serving the community as a commissioner for Maricopa County Planning and Zoning, sitting on the board of directors for the East Valley Partnership, United Food Bank, Mesa United Way, and Commission on Excellence in Education, and Banner Desert Advisory Board. Barney is also a sixth generation native of Arizona and resides in Gilbert with his family.

Payne, who has served as a real estate investor and developer in the Phoenix area for more than 25 years, has also been selected to sit on the bank’s board of directors. Payne is founder of Payne Resources Incorporated, a land investment and development company focusing on light industrial, commercial and office properties. Previously, he co-founded and operated two software businesses and computer software firms. He earned his bachelor’s degree in accounting and business administration from Arizona State University. He currently resides in Gilbert.

About Premier Commercial Bank, Arizona

Premier Commercial Bank, Arizona, is a full-service bank specializing in serving small- to medium-size businesses, professionals, entrepreneurs and hospitality industry clients. For more information, visit www.pcbaz.com. Premier Commercial Bank, Arizona, is a subsidiary of Premier Commercial Bancorp, a registered bank holding company based in Anaheim, Calif. For more information, visit www.pcboc.com or contact Ash Patel (714) 978 7500.

Cautionary Statement: Certain matters discussed in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current management expectations and, therefore, are subject to certain risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. Forward-looking statements are effective only as of the date that they are made, and Premier Commercial Bancorp assumes no obligation to update this information. These forward-looking statements include Premier Commercial Bancorp's ability to grow and capitalize its bank subsidiary in Arizona. In addition, these forward-looking statements, and Premier Commercial Bancorp's business, are subject to the risk factors described in the filings of Premier Commercial Bancorp with the Securities Exchange Commission.