Analyst Coverage Initiated for Pacific Capital Bancorp

Analyst Coverage Initiated for Pacific Capital Bancorp

Business Editors

SANTA BARBARA, Calif.–(BUSINESS WIRE)–Dec. 14, 2000

Pacific Capital Bancorp (Nasdaq:SABB) reports that Sandler O’Neill & Partners, L.P., initiated coverage of Pacific Capital Bancorp on Nov. 30, 2000, and that on Dec. 4, 2000, Keefe Bruyette & Woods initiated coverage of the company.

On Dec. 5, 2000, Dain Rauscher Wessels issued a research report on Pacific Capital Bancorp. Dain Rauscher initiated coverage on Pacific Capital Bancorp in October 2000.

Additional information about Pacific Capital Bancorp, including a list of those analysts following the company, is available at www.pcbancorp.com, under Shareholder Relations/Analyst Coverage.

Pacific Capital Bancorp is a multibank holding company with $3.6 billion in assets. It is the parent company of Santa Barbara Bank & Trust; First National Bank of Central California and its affiliates South Valley National Bank and San Benito Bank; and Los Robles Bank. Pacific Capital Bancorp is a 43-branch California community bank network serving communities from Morgan Hill in the north to Westlake Village in the south.

In June, Pacific Capital Bancorp was named among the 100 top-ranked financial services performers in the United States in two separate industry studies. An ABA Banking Journal study, which included publicly held banks and bank holding companies with more than $1 billion in assets as of Dec. 31, 1999, ranked Pacific Capital Bancorp 39th, based on 1999 return on equity of 19.44%. U.S. Banker ranked Pacific Capital Bancorp 7th in a study of mid-sized commercial banks with assets from $2.9 billion to $11.4 billion, based on return on average equity and growth in per-share net income over the five years ended Dec. 31, 1999.

Please note that any opinions, estimates or forecasts regarding Pacific Capital Bancorp’s performance made by the analysts identified in this press release, or any other analysts that may initiate coverage of Pacific Capital Bancorp, are theirs alone and do not represent opinions, forecasts or predictions of Pacific Capital Bancorp or its management. Pacific Capital Bancorp does not by its reference to the analysts named herein, or of the report(s) prepared by such analysts, imply its endorsement of or concurrence with such information, conclusions or recommendations.

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