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                                                                 EXHIBIT 99.3


 
PROXY                           MARINERS BANCORP
 
>THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF MARINERS
BANCORP.
 
   
    The undersigned hereby appoints Richard Korsgaard and Don R. McCanne, M.D.,
and each of them individually, the attorney, agent and proxy of the undersigned,
with full power of substitution, to vote all shares of Common Stock of Mariners
Bancorp which the undersigned is entitled to represent and vote at the Special
Meeting of Shareholders of Mariners Bancorp, to be held at Mariners Bank's San
Clemente office located at 115 Calle de Industrias, San Clemente, California, at
10:00 a.m. on Wednesday, October 11, 1995, and any adjournments or postponements
thereof, as follows:
    
 
1. Proposal to approve the principal terms of an Agreement and Plan of Merger,
   dated as of May 22, 1995, by and among Eldorado Bancorp, Eldorado Bank,
   Mariners Bancorp and Mariners Bank (the "Merger Agreement").
 
             / / FOR             / / AGAINST             / / ABSTAIN
 
    WHEN PROPERLY EXECUTED, THIS PROXY WILL BE VOTED IN THE MANNER DIRECTED
ABOVE. IF NO DIRECTION IS MADE, IT WILL BE VOTED FOR APPROVAL OF THE MERGER
AGREEMENT AND THE TRANSACTIONS CONTEMPLATED THEREBY.
 
(continued from reverse side)
 
   
    Discretionary authority is hereby conferred as to any other matters as may
properly come before the meeting. The undersigned acknowledges receipt of the
Notice of Special Meeting of Shareholders and the Joint Proxy
Statement/Prospectus (with all enclosures and attachments) dated September 12,
1995. The undersigned ratifies all that the proxies or any of them or their
substitutes may lawfully do or cause to be done by virtue hereof and revokes all
former proxies.
    
 
                                                      DATED               , 1995
 
                                                      --------------------------
 
                                                              Signature
 
                                                      --------------------------
                                                      Signature if held jointly
 
                                                      Please sign this proxy
                                                      exactly as your name(s)
                                                      appears below. If the
                                                      stock is registered in the
                                                      names of two or more
                                                      persons, each must sign.
                                                      Executors, administrators,
                                                      trustees, guardians,
                                                      attorneys and corporate
                                                      officers should add their
                                                      titles.
 
   
IMPORTANT: Please mark, date, sign and return this Proxy in the envelope
           provided. No postage is required.