Exhibit 99.1

         Temecula Valley Bancorp Raises $27 Million in Private Placement



    TEMECULA, Calif.--(BUSINESS WIRE)--Nov. 21, 2006--Temecula Valley
Bancorp Inc. (NASDAQ:TMCV) today announced it has completed the
private placement of 1,400,569 shares of common stock, no par value,
to institutional and individual investors, including employees,
officers and directors of the Company or its wholly-owned subsidiary,
Temecula Valley Bank, and the Company's employee stock ownership plan
(ESOP). The Company paid approximately $0.95 per share commission to
its placement agents on shares sold in this private placement,
although it paid a reduced commission of approximately $0.53 per share
on 64,139 shares sold to its employees, officers, directors and the
ESOP. The sale resulted in aggregate gross proceeds to the Company of
approximately $26.759 million; after fees and costs, net proceeds of
approximately $25.135 million. The stock was placed by lead placement
agent Sandler O'Neill + Partners, L.P. and co-placement agents Howe
Barnes Hoeffer & Arnett, Inc. and Ryan Beck and Co., Inc. The Company
intends to use the net proceeds for general corporate purposes.

    The issuance of shares in the private placement was not registered
under the Securities Act of 1933. Therefore, the shares may not be
reoffered or resold by the investors absent registration or an
applicable exemption from the registration requirements.

    This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities.

    Temecula Valley Bank was established in 1996 and operates full
service offices in Temecula, Murrieta, Corona, Fallbrook, Escondido,
Rancho Bernardo, El Cajon, Carlsbad and Solana Beach. The Bank also
operates a number of regional real estate loan production centers in
California and has multiple SBA loan production offices across the
United States. Temecula Valley Bancorp was established in June 2002
and operates as a bank holding company for the Bank.



    CONTACT: Temecula Valley Bank
             Stephen H. Wacknitz, 951-694-9940