Exhibit 99.1

  Harrington West Announces a $51.9 Million Deposit Acquisition and
     Hiring of Lead Commercial Banker for Its California Markets

    SOLVANG, Calif.--(BUSINESS WIRE)--Feb. 4, 2005--Harrington West
Financial Group, Inc. (Nasdaq:HWFG), the holding company for Los
Padres Bank, FSB (LPB) and its division, Harrington Bank, today
announced that it reached a definitive agreement with Western
Financial Bank (WFB) to acquire the deposit accounts, deposit account
loans, and furniture, fixtures, and equipment associated with WFB's
banking office in Thousand Oaks, California. This $51.9 million
banking office complements HWFG's branches in the Ventura and Ojai
markets and provides further funding for HWFG's loan growth. HWFG
plans to complete this transaction by May 2005 and will pay a premium
to WFB not to exceed $2.0 million in cash at closing. The agreement is
subject to regulatory approval and other customary conditions.
    HWFG further announced that it had hired Ms. Jeannie Sabedra as
Senior Vice President to lead its business banking division for its
California markets. Ms. Sabedra has over 20 years of banking
experience in sales and commercial lending, having successfully
developed lending operations and portfolios for both community and
regional banking companies. She has been extensively involved in the
Ventura community in both business and civic capacities and brings a
high degree of market knowledge, leadership, and business development
skills to the position. Ms. Sabedra will assume leadership for the
existing business lending activities in California and for expanding
the bank's commercial lending team and infrastructure. She will also
join Mr. John Braunschweiger, Senior Vice President and HWFG's market
leader in the Ventura, California market, in developing the Company's
presence in its southern central coast markets, including
Ventura/Oxnard, Ojai, and Thousand Oaks, California.

    Harrington West Financial Group, Inc. is a $1.1 billion,
diversified, financial institution holding company for Los Padres Bank
and its division Harrington Bank. HWFG will operate 15 full service
banking offices on the central coast of California, Scottsdale
Arizona, and the Kansas City metro, when it opens its second banking
office in the Scottsdale Airpark in early 2005 and completes the
acquisition of WFB's banking office in Thousand Oaks. HWFG also owns
Harrington Wealth Management Company, a trust and investment
management company with $134.8 million in assets under management or
custody.

    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, (iv) the Company's beliefs
and expectations concerning future operating results and (v) other
factors referenced in the Company's filings with the Securities and
Exchange Commission. 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. 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
             or
             For share transfer information
             Lisa F. Watkins, 805-688-6644