Simonich Corporation Agrees to Purchase Remaining 51% of BWC Mortgage Services From BWC Financial Corp.

BWC Mortgage Services announces today that the Simonich Corporation has acquired 100% of the company assets. Mr. Scott Simonich, Chairman/CEO of Simonich Corporation continues in his capacity as President of BWC Mortgage Services. The restructuring of ownership is in conjunction with today's announcement that Bank of Walnut Creek is merging with First Republic Bank.

BWC Mortgage Services retains its name, management and strong market position. The change will have no material effect on any of its separate divisions or subsidiaries and further secures the company's commitment to its customers, employees and partners. BWC Mortgage Services will continue to focus on strategic growth.

"I am extremely pleased to make this announcement today," said Mr. Simonich. "We have enjoyed a great partnership with the Bank of Walnut Creek over the past 12 years. Our commitment toward helping our customers reach their financial goals remains the guiding principle of our dedicated team of over 200 mortgage professionals."

Since 1994 BWC Mortgage Services has helped thousands of clients with purchase, refinance, and investment mortgages. BWC Mortgage Services funded over $1.4 billion in loan transactions in 2005. Acting as both a mortgage banker and brokerage, BWC searches the market for all possible financing scenarios, seeking highly competitive financing for the first time buyer to the multi-million dollar investor.

BWC Mortgage Services operates in 10 offices including, Concord, Tracy, Monterey, Redding, Tahoe City, Truckee, Walnut Creek, Reno and Las Vegas, Nevada. BWC Mortgage Services' Corporate Office is at 3130 Crow Canyon Place, Suite 170 in San Ramon. Visit us on the web at http://www.bwcmortgage.com.

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