Exhibit 99.1

    First PacTrust Bancorp Inc. Announces Quarterly Cash Dividend

    CHULA VISTA, Calif.--(BUSINESS WIRE)--Aug. 25, 2004--First
PacTrust Bancorp Inc., (NASDAQ:FPTB) the holding company for Pacific
Trust Bank, announced today that its board of directors has declared a
quarterly cash dividend of eleven cents ($0.11) per share on its
outstanding common stock. The dividend will be payable on September
24, 2004 to shareholders of record as of September 10, 2004.
    Hans Ganz, president of First PacTrust Bancorp, stated, "This
sixth consecutive increase to our quarterly dividend reflects the
improved earnings of the company for the 2nd quarter of 2004, as well
as our commitment to enhance shareholder value."
    First PacTrust Bancorp Inc. is a $665.0 million bank holding
company, as of June 30, 2004, headquartered in Chula Vista, Calif.,
providing traditional deposit and credit services through its wholly
owned Federal Savings bank subsidiary, Pacific Trust Bank. The company
has nine banking offices within San Diego and Riverside Counties. More
information about the company can be found on its Web site at
http://www.firstpactrustbancorp.com.

    Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995

    This report contains certain 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. First
PacTrust Bancorp Inc. (the company) and Pacific Trust Bank (the bank)
intend such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in the
Private Securities Reform Act of 1995, as amended, and are including
this statement for purposes of these safe harbor provisions.
Forward-looking statements, which are based on certain assumptions and
describe future plans, strategies and expectations of the company and
the bank, are generally identifiable by use of the words such as
"believe," "expect," "intend," "anticipate," "estimate," "project" or
similar expressions. The ability of the company and the bank to
predict results or the actual effect of future plans or strategies is
inherently uncertain. Factors that could have a material adverse
effect on the operations and future prospects of the company, the bank
and the bank's wholly owned subsidiaries include, but are not limited
to, changes in: interest rates; the economic health of the local real
estate market; general economic conditions; legislative/regulatory
provisions; monetary and fiscal policies of the U.S. Government,
including policies of the U.S. Treasury and the Federal Reserve Board;
the quality or composition of the loan and securities portfolios;
demand for loan products; deposit flows; competition; demand for
financial services in the bank's market area; and accounting
principles, policies and guidelines. These risks and uncertainties
should be considered in evaluating forward-looking statements and
undue reliance should not be placed on such statements.

    CONTACT: First PacTrust Bancorp Inc.
             Hans Ganz, President and CEO
             619-691-1519