1st Pacific Bancorp is a bank holding company. 1st Pacific Bank of California (the Bank) is a wholly owned subsidiary of the Company. The Bank operates as a commercial bank. The Company operates through its eight branch offices. The Company’s primary source of revenue is interest earned on loans it provides to customers. The Company funds its lending activities primarily through providing deposit products and services to customers. The Company’s customers are primarily small and medium-sized businesses and professionals in San Diego County. In February 2008, the Company opened a limited service branch office in downtown San Diego.