First Mountain Bank and PBB Bancorp/ Premier Business Bank in Merger Talks

BIG BEAR LAKE, Calif. & LOS ANGELES--()--First Mountain Bank (“FMB”) and PBB Bancorp/ Premier Business Bank (“PBB”) announced today that they have entered into exclusive negotiations for the combination of the two banks. Discussions are advanced. 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. The directors have spent a lot of time with Premier Business Bank directors and officers getting to know them and their desire to be part of our mountain community.”

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 its customers, more support for its community and more opportunities for its employees. Preserving First Mountain Bank’s local identity, local decision making and fine customer base is our number one priority.”

First Mountain Bank operates three banking offices in Big Bear Lake, Running Springs and Lucerne Valley, California. First Mountain Bank currently trades on OTC under the symbol “FMBP.” More information on First Mountain Bank is available at www.firstmountainbank.com.

Premier Business Bank operates two banking offices in Los Angeles and Palos Verdes, California, and is wholly owned by PBB Bancorp. PBB Bancorp currently trades on OTCQX under the symbol “PBCA.” More information on Premier Business Bank is available at www.ibankpremier.com.

Contacts

First Mountain Bank
Vince Smith, Chairman
(909) 866-5861
or
PBB Bancorp/ Premier Business Bank
John R. Polen, President and CEO
(213) 689-4800