First Mountain Bank and PBB Bancorp/Premier Business Bank Announce Merger Negotiations

Big Bear Lake, CA, June 8, 2015 – First Mountain Bank and PBB Bancorp/Premier Business Bank announced today that they have entered into exclusive negotiations for the combination of the two banks.  The parties anticipate that a merger agreement will be signed and terms announced by mid-June 2015.  Vince Smith, Chairman of FMB, stated “We are pleased with the progress of the merger process and the opportunity to combine with Premier Business Bank.  We believe they share our long standing commitment to serve our customers and support our communities.  John Polen, President and Chief Executive Officer of PBB stated “Community banking is the core focus of Premier Business Bank.  I believe that completion of our merger will provide First Mountain Bank more services to offer to it’s customers, more support for it’s community and more opportunities for it’s employees.  Preserving First Mountain Bank’s local identity, local decision making and fine customer base is our number one priority”.  Premier Business Bank operates two banking offices in Los Angeles and Palos Verdes.  First Mountain operates three banking offices in Big Bear Lake, Running Springs and Lucerne Valley.  More information on FMB is available at www.firstmountainbank.com.