Exhibit 99.1

Harrington West Financial Group, Inc. Announces Special Cash Dividend
                        of 50 Cents Per Share

    SOLVANG, Calif.--(BUSINESS WIRE)--June 16, 2004--Harrington West
Financial Group, Inc. (Nasdaq:HWFG) today announced that its Board of
Directors has declared a special cash dividend of 50 cents per share
payable on July 12, 2004 to shareholders of record on June 28, 2004.
In commenting on the special dividend, Chairman and CEO of Harrington
West, Craig J. Cerny, stated "Given the Company's performance over the
last two years in generating strong earnings growth and in exceeding
its profit plan for both its core banking operations and its
investment portfolio, the Board of Directors wishes to reward
shareholders with this special dividend, especially considering the
historically low Federal tax rate on dividend income. The Board
anticipates the Company will continue its regular quarterly cash
dividend announced with quarterly earnings releases." The last
quarterly cash dividend of 10 cents per share was paid on May 7, 2004.
    Harrington West Financial Group, Inc, is a $1.0 billion financial
institution holding company for Los Padres Bank and its division
Harrington Bank. It operates 13 full service banking operations on the
central coast of California, Scottsdale Arizona, and the Kansas City
metro. It also owns Harrington Wealth Management Company, a trust and
investment management company with $126.1 million in assets under
management or custody, and 51% of Los Padres Mortgage Company, LLC, a
joint venture mortgage origination company, with Resource Marketing,
Inc, the largest RE/MAX realty franchise in Arizona, holding the
remaining 49%.

    This Release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act. All of the statements
contained in the Release, other than statements of historical fact,
should be considered forward-looking statements, including, but not
limited to, those concerning (i) the Company's strategies, objectives
and plans for expansion of its operations, products and services, and
growth of its portfolio of loans, investments and deposits, (ii) the
Company's beliefs and expectations regarding actions that may be taken
by regulatory authorities having oversight of the operation, (iii) the
Company's beliefs as to the adequacy of its existing and anticipated
allowances for loan and real estate losses and (iv) the Company's
beliefs and expectations concerning future operating results. Although
the Company believes the expectations reflected in those
forward-looking statements are reasonable, it can give no assurance
that those expectations will prove to have been correct. Investors are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof and are not
intended to give any assurance as to future results, including future
cash dividends. The Company undertakes no obligation to publicly
release any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.

    CONTACT: Harrington West Financial Group, Inc.
             Craig J. Cerny, 913-663-0180
             Gina L. Ast, 805-688-6644 (share transfer information)