Exhibit 99.1

    First PacTrust Bancorp, Inc. Announces Quarterly Cash Dividend

    CHULA VISTA, Calif.--(BUSINESS WIRE)--Feb. 23, 2005--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 twelve and one-half cents ($0.125) per
share on its outstanding common stock. The dividend will be payable on
March 25, 2005 to shareholders of record as of March 11, 2005.
    Hans Ganz, President of First PacTrust Bancorp, stated, "This
eighth consecutive increase to our quarterly dividend reflects our
commitment to enhance shareholder value."
    First PacTrust Bancorp, Inc. is a $674.6 million bank holding
company, as of September 30, 2004, headquartered in Chula Vista,
California, 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
website 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, 619-691-1519