CROWN BANK TO PURCHASE FIRST BANKAMERICANO

Brick, New Jersey -- July 31, 2009 -- Crown Bank (Crown), one of the top performing privately held banks in New Jersey, announced that it has purchased from the Federal Deposit Insurance Corporation (FDIC) the assets and all deposits of the failed First BankAmericano, Elizabeth, NJ. The combined assets will exceed $550 million and Crown will now have an expanded branch network of 18 locations throughout New Jersey.

First BankAmericano was chartered in January l997 and was organized to serve the multi-cultural business community, professionals and individuals who work and reside within the bank’s trade area. Over the years the bank contributed through its six branch offices to the economic prosperity of the communities they served.

While current economic conditions have forced many larger banks to curtail lending and close locations; Crown is leveraging its strong financial position for growth. For the trailing twelve (12) month period the bank has seen a 30% grow rate in assets, and with this purchase will increase the growth rate by 85%. Within the past twelve months Crown has succeeded in opening four additional branch locations and will continue its mission of providing banking services to urban communities underserved by large national banks. Customers will now have the benefit of larger loan access due to the asset size of the two entities, even in the current economic environment.

"This is a great opportunity for Crown to continue our focus on urban business and catering to those particular communities that have supported both banks for many years," said Jacinto Rodrigues, Crown's Chairman and Chief Executive Officer. "Crown and First BankAmericano's customer base, and our capital strength, earnings performance and experienced management will give customers a broader array of products and services. This purchase will strengthen the ethnic communities that we serve with loans and working capital -- which has always been Crowns focus and mission."

Chairman Rodrigues also stated, “We at Crown bank want to assure all depositors and loan customers of First BankAmericano of our high level of service, which is Crown’s hallmark and mission as a local community bank. Customers will notice that very few changes in personnel will take place in their local branch. Please be patient while we review procedures and make the necessary transition giving current banking customers premier services that Crown Bank customers now enjoy”. For additional information regarding Crown Bank: www.crownbank.net

Branch locations:

• 715 Route 70, Brick, New Jersey 08723
• 195 Elmora Avenue, Elizabeth, NJ 07202
• 400 Westminster Avenue, Elizabeth, NJ 07208
• 2 N. Union Avenue, Cranford, NJ 07016
• 198 Washington Valley Road, Warren, NJ 07059
• 324 North Avenue, Dunellen, NJ 08812
• 499 Kearny Avenue, Kearny, NJ 07032
• 212-216 S. Frank E. Rodgers Boulevard, Harrison, NJ 07029
• 76 Pulaski Street, Newark, NJ 07105
• 174 Ferry Street, Newark, NJ 07105
• 801 Asbury Avenue, Ocean City, NJ 08226
• 100 New Road, Linwood, NJ 08221

New Branch Locations:

• 339 North Broad Street, Elizabeth, NJ 07208
• 4430 Bergenline Avenue, Union City, NJ 07087
• 6149-6151 Bergenline Avenue, West New York, NJ 07093
• 201 Chestnut Street, Roselle, NJ 07203
• 1137 Main Avenue, Clifton, NJ 07110
• 201-205 Frank E. Rodgers Boulevard North, Harrison, NJ 07029