FREMONT, California - July 1, 2005 - The Fremont Bank Board of Directors is pleased to announce two changes to its Executive Management Team, effective July 1, 2005.

President and Chief Executive Officer Michael J. Wallace has been named Co-Vice Chairman and Executive Vice President Bradford L. Anderson has been named the new President and CEO.

Wallace, 56, has been with Fremont Bank for more than 30 years and has been President and CEO since 2000. He is an integral part of the bank's forty-year tradition of being one of the safest and most progressive community banks in California.

"During these times of bank mergers and takeovers, our customers can count on us to continue the tradition our Founder and Chairman Morris Hyman started - to remain independent and locally controlled," Wallace said. "We plan to continue that tradition for the next 40 years and beyond."

Wallace, a longtime, active resident of Fremont has been a familiar figure to Fremont Bank customers. "Our clients tell us they appreciate Mike's accessibility. They can just pick up the phone and call him," Gloria Fuerniss, VP Relationship Manager said.

"I am looking forward to focusing more of my attention on strategic planning to further the development of our financial products and to strengthen our relationships with clients," Wallace said.

Wallace is president of the Washington Hospital Board of Directors. He also serves on the Board of Directors of the BETA Healthcare Group, is a member of the Investment Committee for the California Economic Development Lenders' Initiative, is a Board Member for the Association of California Hospital Districts, is past Chairman of the Fremont Commercial Industrial Development Commission and serves as a Board Member for the Fremont Bank Foundation. He graduated from Ohio State University and earned an MBA from Santa Clara University. In 1973 Wallace joined Fremont Bank after serving in the military.

Anderson, 51, has been with Fremont Bank for 25 years. He began his career with the bank in 1980 as a branch manager and loan officer. Later, he was primarily responsible for the origination and implementation of the "No Closing Cost" Loan Program that transformed the way people refinance their mortgage loans. He then moved on to being responsible for sales, marketing, lending and online banking, as well as becoming a member of the Bank's Board of Directors.

"What we've done as a locally-owned community bank works." Anderson says. "Our formula for success has been to partner with small business owners and help them build their businesses. These partnerships have been a vehicle for growth for the bank and our clients."

As President and CEO, Anderson intends to continue along the path set by his predecessor. "The bank will not deviate from its current course. Our philosophy of being a leader in banking innovation and creativity will not change."

Anderson graduated from the University of California at Los Angeles and received his MBA in Marketing and Finance from San Jose State University. He holds an Advanced MBA from Golden Gate University.

About Fremont Bank
Fremont Bank and its divisions are committed to providing its communities with high-quality, personalized banking services in convenient neighborhood locations. Fremont Bank has built a reputation as one of the most progressive community banks in California.

Fremont Bank was founded in 1964 on the cornerstone value that continues to fuel its success today: fast, friendly, honest service. Customers can still count on receiving this exceptional level of service - a rarity in today's marketplace. For more information, call (800) 743-INFO.

Press Contacts:
Laura Owen
Public Relations, Fremont Bank
Phone: (800) 743-INFO
Email: PublicRelations@fremontbank.com