Regal Financial In the News

REGAL MEDIA
NEWSROOM: www.regalfinancialbank.com

FOR IMMEDIATE RELEASE

30 April 2008

SEATTLE, WASHINGTON – “The world of banking is changing and so are we,” according to Jesse T. Tam, Chairman of the Board of Regal Financial Bancorp and Founding President and Chief Executive Officer of Regal Financial Bank. “We are in an environment of historic proportions and we have worked hard to recruit bankers who can help this organization grow to the next level.”

At its April 23, 2008 board meeting, directors elected Randy C. James Chairman of the Board for Regal Financial Bank. He was most recently the Founding Director of Charter Bank in Bellevue, which was sold to Boston Private Financial, Inc., in 2007. His previous positions included being Vice Chairman of Seattle First National Bank and Chief Executive Officer of Bank of America in Oregon. In addition to joining the Regal Financial Bancorp and Regal Financial Bank boards in 2007, he is also serving on the board of ING America Insurance Holdings.

“We are very pleased to have the talents and experience of Randy James on our board. He is a very respected banker in this region. We see his involvement as a great opportunity to add value to our well established existing banking system which we have built over the past six years.” said Tam. “He brings a lot of positive energy to the bank’s board of directors and approaches issues with a high degree of experience.”

This is not the first time Tam and James have worked together. James was Vice-Chair of Seattle First National Bank (Bank of America) while Tam was managing Seafirst International Private Banking in the mid 1980’s.

Two new directors elected by the bank’s shareholders also have professional connections to Tam. They include investment fund manager Henry Liebman and attorney Kathleen Wilcox.

Henry Liebman is President and Co-Founder of American Life, Inc., a property investment and management company in Seattle. The company manages a $350 million dollar portfolio which has one of largest real estate holdings in the Seattle downtown area. Mr. Liebman graduated from the University of Washington in 1973, receiving a BA in Political Science. He also has a law degree from the Puget Sound School of Law. Mr. Liebman was a founding director of Northwest International Bank while Tam was the founding President & CEO.

Kathleen Wilcox is Of Counsel with Davis Wright Tremaine, LLC. She retired in 2007 from the leadership of the Washington Software Alliance which is now known as The Washington Technology Industry Association, where she served as President and Chief Executive Officer since 1994. Before assuming leadership of the WSA and building it into the largest organization of its kind in the country, Ms. Wilcox was an Attorney for Heller, Ehrman, White & McAuliffe. She has also held executive positions with Rainier Bancorporation and Security Pacific Bank, where she managed the institutional corporate secretary’s office and served as corporate secretary to Rainier’s 37 domestic and international subsidiaries. Ms. Wilcox brings an expertise in corporate governance to the Regal Financial Bank board. Tam was also an international banker for Rainier Bank in the early 80’s

Regal Financial Bancorp is the holding company of Regal Financial Bank. Regal Financial Bank is a privately-held community bank with total assets of more than $145 Million, headquartered in Downtown Seattle, with offices in Kent, Washington and loan production centers in Idaho and Nevada. The bank celebrated its six year anniversary on April 23, 2008. More information about the bank is available at www.regalfinancialbank.com