First Financial Bancorp


                             P R E S S  R E L E A S E

    For Immediate Release                                          June 22, 2001


    Contact Person:
    Leon Zimmerman
    President and CEO
    (209) 367-2000


           First Financial Bancorp Announces Shareholders Rights Plan


     Lodi,  Calif.  (Business  Wire)--June  22, 2001 - The Board of Directors of
First  Financial  Bancorp  (OTCBB:  FLLC)  announced today that it has adopted a
Shareholder  Rights Plan and declared a dividend  distribution  of one Right for
each  outstanding  share of the Company's  common stock. The plan is designed to
discourage  takeovers that involve  abusive tactics or do not provide fair value
to shareholders. The record date for the distribution is July 6, 2001.

     Each Preferred  Share Purchase Right will entitle  shareholders  to buy one
one-hundredth of a share of the Company's Series A Participating Preferred Stock
at an  exercise  price  of  $47.50.  Each one  one-hundredth  of a share of such
Preferred  Stock is intended to be the economic  equivalent  of one share of the
Company's  common  stock.  After a person or group  acquires  10% or more of the
outstanding  common stock or announces a tender offer, the consummation of which
would result in ownership by a person or group of 10% or more of the outstanding
common  stock,  the Rights will  become  exercisable  by persons  other than the
acquiring person,  unless the Board of Directors has approved the transaction in
advance.  Prior to the  acquisition  by a person  or group of 10% or more of the
outstanding  common stock, the Rights are redeemable for $0.001 per Right at the
option of the Board of Directors. The Rights will expire on May 31, 2011.

     Leon Zimmerman,  President and Chief Executive  Officer,  stated that, "The
adoption  of the  Shareholder  Rights  Plan is part of an ongoing  effort by the
Board to protect and maximize the value of the  shareholders'  investment in the
Company and to give them the optimum opportunity to participate in the long-term
value  of  the  Company.  After  several  months  of  consideration,  the  Board
determined  that  adopting  the  Shareholder  Rights  Plan is an  effective  and
reasonable method to safeguard the interests of our shareholders. We are focused
on  building  value for our  shareholders,  and our  intent is to  continue  our
strategy. The purpose of the




Shareholder Rights Plan is to enable the Company to continue moving forward with
these plans without being subject to the distraction caused by tactics which may
not maximize value for all of our shareholders."

     First  Financial  Bancorp  is the parent of Bank of Lodi,  N.A.,  a locally
owned  community  bank  formed  in 1982.  Bank of Lodi,  N.A.  offers  financial
services via the web at www.bankoflodi.com, telephone banking at 888-265-8577 or
at any one of its eight branches located in the communities of Lodi, Woodbridge,
Lockeford, Galt, Plymouth, San Andreas, Elk Grove, and Folsom. Bank of Lodi also
offers  investment  services through its affiliation with Investment  Centers of
America.

     This press release contains forward looking  statements  within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities  Exchange Act of 1934, as amended (the "Exchange  Act"), and as such,
may involve risks and uncertainties. Forward-looking statements, which are based
on certain assumptions and describe future plans, strategies,  and expectations,
are  generally  identifiable  by the use of words such as  "believe",  "expect",
"intend",  "anticipate",  "estimate",  "project", or similar expressions.  These
forward-looking  statements  relate to, among other things,  expectations of the
business  environment  in which  the  Company  operates,  projections  of future
performance,  potential future performance,  potential future credit experience,
perceived  opportunities in the market,  and statements  regarding the Company's
mission and vision. The Company's actual results,  performance, and achievements
may differ materially from the results,  performance, and achievements expressed
or implied  in such  forward-looking  statements  due to a wide range of factors
which are set forth in our annual report on Form 10-K on file with the SEC.




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