CommerceWest Bank Completes Merger With Discovery Bancorp, Bank

Mr. Tjan to remain as chairman, president and CEO of CommerceWest Bank

California-based CommerceWest Bank has completed its previously announced merger with Discovery Bancorp and Discovery Bank. CommerceWest Bank, Discovery Bancorp and Discovery Bank had previously received all necessary shareholder and regulatory approvals in order to effect the merger.

Reportedly, with the completion of this merger, Discovery Bancorp merged into Discovery Bank, which was then merged into CommerceWest Bank, with CommerceWest Bank as the surviving bank. As a result, CommerceWest Bank now has total assets of approximately $400 million and six regional offices across Los Angeles, Orange, Riverside and San Diego counties.

Ivo Tjan remains chairman, president and CEO of CommerceWest Bank. The board of directors of CommerceWest bank also remains intact. All Discovery Bancorp and Discovery Bank directors and executive officers have resigned effective as of the close of the merger.

The integration of Discovery Bank systems and the conversion of Discovery Bank’s offices to CommerceWest Bank’s operating platform are scheduled to be completed in August 2009.