First Regional Bancorp is a bank holding company headquartered in Century City, California. Its subsidiary, First Regional Bank, specializes in working relationships with accounting firms, law firms, property management firms, business management firms, health professionals, as well as traditional wholesale and manufacturing businesses while continuing to provide real estate lending services to developers and property owners. The bank offers loans, trust & investment services and small business banking, among other services.
On Friday, January 29, 2010, First Regional Bank (the “Bank”), the wholly-owned subsidiary and principal asset of First Regional Bancorp (the “Company”), was closed by the California Department of Financial Institutions and the Federal Deposit Insurance Corporation (the “FDIC”) was appointed as receiver of the Bank. On the same date, the FDIC transferred substantially all of the assets and liabilities of the Bank to First Citizens Bank of Raleigh, North Carolina.