Presidio Bank Announces Rights Offering to Purchase up to 1,000,000 Shares of the Bank’s Common Stock at a Purchase Price of $12.00 Per Share; Sets Record Date

SAN FRANCISCO--()--Presidio Bank (OTCBB:PDOB) announced today that it has set 5:00 p.m., Eastern Time, on May 15, 2015, as the record date for a rights offering.

The rights offering will be made through the distribution of non-transferable subscription rights to purchase shares of Presidio Bank’s common stock. Shareholders as of the record date will receive, at no charge, 0.25 subscription rights for every share of common stock held of record at the record date. Subscription rights may only be exercised in whole numbers (with the total number of subscription rights issuable to a holder rounded down to avoid the issuance of fractional shares). Each whole subscription right will entitle a shareholder to purchase one share of Presidio Bank common stock at a subscription price equal to $12.00 per share. In addition, shareholders will receive an over-subscription privilege, allowing them to subscribe for shares that are not purchased by other shareholders in the rights offering.

Presidio Bank will offer up to 1,000,000 shares of common stock in the rights offering. In the event all 1,000,000 shares are not subscribed for in the rights offering by the Bank’s shareholders of record, the Bank may sell any remaining shares to certain standby investors.

The rights offering is expected to commence as soon as practicable after the record date and will terminate on June 22, 2015, unless otherwise extended or terminated earlier.

THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY THE SECURITIES NOR SHALL THERE BE ANY SALE OF SECURITIES MENTIONED IN THIS PRESS RELEASE IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO THE REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH STATE. THE RIGHTS OFFERING IS BEING MADE ONLY BY MEANS OF AN OFFERING CIRCULAR. THE SHARES BEING OFFERED PURSUANT TO THE RIGHTS OFFERING ARE BEING SOLD PURSUANT TO A PERMIT GRANTED BY THE CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT. THIS PERMIT IS PERMISSIVE ONLY AND DOES NOT CONSTITUTE A RECOMMENDATION OR ENDORSEMENT OF THE SHARES OF COMMON STOCK BEING OFFERED OR SOLD THROUGH THE OFFERING CIRCULAR.

About Presidio Bank

Presidio Bank provides business banking services to small and mid-size businesses, including professional service firms, real estate developers and investors, and not-for-profit organizations, and to their owners who desire personalized, responsive service with access to local decision makers. Presidio Bank offers clients the resources of a large bank combined with the personalized services of a neighborhood bank. Presidio Bank is headquartered in San Francisco, California and currently operates five banking offices in San Francisco, Walnut Creek, San Rafael, San Mateo and Palo Alto. More information is available at www.presidiobank.com. Presidio Bank is a member of FDIC and an Equal Housing Lender.

This press release contains certain forward-looking statements that involve risk and uncertainties. These statements are identifiable by use of the words "believe," "expect," "intend," "anticipate," "plan," "estimate," "project," or similar expressions. The risks and uncertainties that may affect the operations, performance, development, growth projections and results of Presidio Bank's business and the rights offering include, but are not limited to, the growth of the economy, interest rate movements, timely development by Presidio Bank of technology enhancements for its products and operating systems, the impact of competitive products, services and pricing, client-based requirements, governmental legislation, changes in regulatory or generally accepted accounting principles, the results of regulatory examinations, investigations and reviews, and similar matters. Readers are cautioned not to place undue reliance on forward-looking statements which are subject to influence by the named risk factors and unanticipated future events. Actual results, accordingly, may differ materially from such expectations.

Contacts

Presidio Bank
Steve Heitel, 415-229-8428
President & CEO
Ed Murphy, 415-229-8403
EVP/CFO
or
MEDIA:
Annette Gelinas, 415-229-8415 (o) / 925-787-2956 (c)
SVP/Marketing Director
agelinas@presidiobank.com

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