Tamalpais Bank to Provide Community Loan Program, Will Provide Residential Loans Up to $10 Million

SAN RAFAEL, Calif.--(BUSINESS WIRE)--Tamalpais Bank (NASDAQ: TAMB) today announced a strategic relationship with Petaluma-based First California Mortgage Company to immediately begin offering residential home purchase and refinance loans of up to $10 million.

Tamalpais Bank CEO/chairman/president Mark Garwood said, “We are heeding the call of Fed chief Ben Bernanke. He has suggested that community banks play a more prominent role in home mortgage lending and that’s what this relationship will allow us to do.”

Home mortgage loans will be available for properties located in California.

“Every day we learn about cutbacks in home lending by large banks and mortgage banking companies. We believe we have an obligation to step in to provide home loans in the communities we serve,” he said.

Garwood cited several factors in the choice of FirstCal, “The critical factors were that FirstCal has investor relationships, operations and technology to provide our customers both a wide variety of loan products and distinctive customer service.

“We provide a very personalized approach to home lending, supported by our commitment to hire quality staff, build lasting relationships and provide innovative solutions to our customers,” he said.

Residential mortgage loans, both fixed and variable interest rates, are offered at the Bank’s seven branches in Marin County. Customers can receive a free loan consultation through a Tamalpais Bank branch manager and a FirstCal Mortgage Planner who will identify customers’ needs and explain to them their home loan financial options.

Founded in Marin, FirstCal has financed home ownership in California for more than 25 years. FirstCal has earned a reputation among investors for funding quality loans. Customers will be supported by a dedicated account team that includes Tamalpais Bank managers, FirstCal Mortgage Planners, processors and underwriters.

“This relationship opens a new and important avenue to us,” says FirstCal president Spencer Carlsen. “Working with Tamalpais Bank will allow us to enable home ownership opportunities for the Bank’s customers while we help our investors remain active in California’s housing market.”

About Tamalpais Bancorp

Tamalpais Bancorp (www.tambancorp.com), based in San Rafael, CA, is the parent company of Tamalpais Bank and Tamalpais Wealth Advisors. The Company had $602 million in assets and $396 million in deposits as of March 31, 2008.

Tamalpais Bank
Mark Chapman, 415-526-6485