| LAW OFFICES | EXHIBIT 5 | |||
| S. ALAN ROSEN* | Horgan, Rosen, Beckham & Coren | |||
| ALAN M. MIRMAN | A LIMITED LIABILITY PARTNERSHIP | |||
| ROBERT P. BECKHAM III | COSTA MESA | |||
| ARTHUR A. COREN* | (714) 432-0330 | |||
| GARY M. HORGAN | SUITE 200 | |||
| MICHAEL E. BUBMAN | 23975 PARK SORRENTO | LOS ANGELES | ||
| MEL ARANOFF* | CALABASAS, CALIFORNIA 91367-4001 | (213) 975-9595 | ||
| YOUNG H. PARK | (818) 591-2121 | (310) 552-2010 | ||
| BRIAN W. BLATZ | FACSIMILE (818) 591-3838 | |||
| www.horganrosen.com | PASADENA | |||
| (626) 799-8080 | ||||
| * A LAW CORPORATION | ||||
| SAN DIEGO | ||||
OF COUNSEL | (619) 295-3160 | |||
| RONALD R. COHN | ||||
| MICHAEL M. MURPHY |
June 22, 2005
Discovery Bancorp
338 Via Vera Cruz
San Marcos, California 92078
| Re: | Registration Statement on Form SB-2 |
Ladies and Gentlemen:
At your request, we have examined the Registration Statement on Form SB-2 (the “Registration Statement”) that you are filing with the Securities and Exchange Commission in connection with the registration under the Securities Act of 1933, as amended, of shares of the no par value common stock of Discovery Bancorp (the “Shares”). We have also examined the proceedings heretofore taken by you in connection with the authorization and issuance of the Shares.
Based on the foregoing, it is our opinion that the Shares will, upon issuance thereof in the manner described in the Registration Statement, be duly authorized, legally issued, fully paid and non-assessable.
We consent to the filing of this opinion as an exhibit to the Registration Statement on Form SB-2 and to the use of our name under the caption “Legal Matters” in the Prospectus that is a part thereof.
| Respectfully submitted, | ||||
| /s/ Horgan, Rosen, Beckham & Coren, L.L.P. | ||||
| HORGAN, ROSEN, BECKHAM & COREN, L.L.P. | ||||
