Exhibit 99.1

                       Quaker City Bancorp, Inc.
                  Increases Stock Repurchase Program


    WHITTIER, Calif.--(BUSINESS WIRE)--Sept. 22, 2003--Quaker City
Bancorp, Inc. ("Company") (Nasdaq:QCBC), the holding company for
Quaker City Bank ("Bank"), today announced that on September 17, 2003
its Board of Directors has authorized the repurchase of up to 5% of
the Company's outstanding shares (approximately 318,297 as of June 30,
2003) pursuant to a stock repurchase program, bringing the total
authorization to approximately 356,567 shares of stock (approximately
5.7% of the Company's shares outstanding as of August 31, 2003). The
repurchase of stock by the Company may be effected through open market
or private transactions, subject to the Company's assessment of market
conditions and buying opportunities from time to time.
    President and Chief Executive Officer Rick McGill commented, "We
believe continuing our repurchase program is an excellent vehicle for
improving shareholder value."
    The Company had $1.6 billion in total assets at June 30, 2003, and
currently operates 24 retail banking branches in Los Angeles, Orange,
Riverside, and San Bernardino counties in southern California. The
Bank's regulatory capital levels continue to exceed the levels
necessary to be considered "Well Capitalized."

    These statements are subject to a number of risks and
uncertainties, many of which are beyond the control of the Company,
including, but not limited to, (i) general economic, market or
business conditions in the U.S. and southern California, including
changes in market interest rates; (ii) real estate market conditions,
particularly in southern California; (iii) the opportunities (or lack
thereof) that may be presented to and pursued by the Company; (iv)
competitive actions by other financial institutions; (v) changes in
federal, state, and local laws, regulations and policies affecting the
Company's business; and (vi) other factors. Actual results could
differ materially from those contemplated by these forward-looking
statements. Consequently, all of the forward-looking statements made
in this report are qualified by these cautionary statements and there
can be no assurance that the actual results or developments
anticipated by the Company will be realized or, even if substantially
realized, that they will have the expected consequences to or effects
on the Company and its business or operations. Forward-looking
statements made in this report speak as of the date hereof. The
Company undertakes no obligation to update or revise any
forward-looking statement made in this report.

    For investor information, visit Quaker City's Corporate News on
the Net page at www.businesswire.com/cnn/qcbc.htm


    CONTACT: Quaker City Bancorp, Inc.
             Rick McGill, 562-907-2275
             Dwight L. Wilson, 562-907-2241