Exhibit 99.1

FIRST PACTRUST BANCORP, INC. ANNOUNCES

2nd QUARTER RESULTS

July 29, 2011

July 29, 2011 — Chula Vista, California — First PacTrust Bancorp, Inc. (“Bancorp” or the “Company”) (Nasdaq: FPTB), the holding company for Pacific Trust Bank (“the Bank”), announced net income of $1.5 million or $0.16 per share for the quarter ended June 30, 2011 compared to a net loss of $2.7 million or ($0.65) loss per share for the prior year’s quarter ended June 30, 2010 and compared to net income of $693 thousand or $0.07 per share for the quarter ended March 31, 2011. During the second quarter 2011, the Bank’s cost of deposits declined to 0.74% from 0.80% cost of deposits during the first quarter 2011, a 5.0% reduction and declined by 0.52% as compared to 1.26% for the same quarter 2010, a 41% reduction. Total deposit balances grew by $51.5 million (8.1%) and $39.6 million (6.1%) for the three and six-month periods ended June 30, 2011, respectively. Total assets increased by $47.3 million (5.7%) and $20.6 million (2.4%) for the three and six-month periods ended June 30, 2011. The increase was partly due to growth in earning assets, including a $924 thousand increase an investment securities during the quarter ended June 30, 2011 and a $9.8 million increase in investment securities for the six-months ended June 30, 2011. For the quarter and six-months ended June 30, 2011, net loans declined $6.3 million and $1.3 million, respectively, due largely to higher than expected pre-payments and transfers of non-performing loans into OREO. Net of a $0.11 dividend paid on July 1, 2011, tangible book value per share declined from $13.98 to $13.91 per share between December 31, 2010 and June 30, 2011.

Non-performing loans decreased by $13.4 million or 48.4%, to $14.2 million as of June 30, 2011 when compared to $27.6 million as of March 31, 2011 or 1.6% and 3.3% of total assets, respectively. Non-performing loans declined by $5.7 million or 28.5% from $19.9 million as of December 31, 2010 to $14.2 million as of June 30, 2011. Total classified loans, defined as loans rated Loss, Doubtful or Substandard, declined by $7.6 million or 17.6%, from $43.1 million as of December 13, 2010, to $35.5 million as of June 30, 2011. Loans delinquent 60 - 89 days decreased $2.0 million during the three months ended June 30, 2011, and declined by $6.0 million or 59.9% from $9.9 million, to $3.9 million during the six months ended June 30, 2011. OREO increased $8.6 million to $15.0 million as of June 30, 2011 when compared to $6.4 million as of March 31, 2011 or 1.7% and 0.8% of total assets, respectively. This increase is related to active resolution of the Bank’s problem assets. As of June 30, 2011 the Company’s OREO balances totaled $15.0 million (1.7% of assets), compared to $6.6 million (0.8% of assets) as of December 31, 2010, an $8.4 million or 128.8% increase, which included $12.7 million in additions to OREO and $4.3 million in dispositions of OREO. As a result of the OREO increase, total nonperforming assets increased by $3.8 million or 10.5% from $26.5 million (3.1% of assets) as of December 31, 2010 to $29.3 million (3.4% of assets) on June 30, 2011.

“During the second quarter of 2011 the Bank continued on its transformational journey to drive enhanced financial performance and shareholder value through the development of a high quality community banking franchise. In connection with these efforts, we announced the acquisition of Gateway Bancorp and its banking subsidiary, Gateway Business Bank, which provides us entry into Los Angeles and Orange Counties through Gateway’s Lakewood, CA and Laguna Hills, CA branches, as well as 22 mortgage loan origination offices throughout the West Coast. We continue to focus on organic growth and opened our San Marcos branch while also announcing our intent to open branches in Santa Monica and Century City, CA. Our Commercial Real Estate lending group began funding loans this quarter, generating $21.3 million in new production with an average note rate of 5.75%, while our single-family mortgage lending group generated $10.5 million at an average note rate of 5.05%. We made excellent progress in reducing delinquencies and moving non-performing assets through the resolution process and expect continued progress in future periods. In addition, we raised $26 million in new capital to fund future growth initiatives. I am particularly impressed with the progress made by our retail banking division where we reported continued improvement in the volume, cost and mix of our deposits. This included strong growth in transaction account units, increased sales per office and continued reduction in our cost of deposits. We also added a Chief Financial Officer to the Company’s leadership team. While broader

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markets continue to be challenged, we believe that our investment in people, combined with our strong capital position and continued focus on the development of a strong and capable balance sheet and community banking franchise leave us well-positioned to benefit from emerging opportunities in the California banking market,” said Gregory Mitchell, Bancorp President and CEO.

Second quarter earnings were impacted by $1.12 million pre-tax gain-on-sale of investment securities and by $244 thousand in professional fees associated with acquisition and other activities, which we consider non-core. The net effect of these non-core items was an increase in our after-tax EPS and provided Bancorp’s common shareholders with an additional $0.06 per share in earnings in the second quarter of 2011. Excluding these non-core items, Bancorp earned $1.0 million, or $0.10 per share for the quarter ended June 30, 2011.

Bancorp’s Board of Directors declared our quarterly dividend of $0.11 per share. This dividend was paid on July 1, 2011.

SECOND QUARTER 2011 HIGHLIGHTS:

Earnings Fundamentals

Bancorp’s net interest margin declined marginally from 3.63% during the quarter ending March 31, 2011, to 3.56% for the quarter ended June 30, 2011. Continued improvement in the Bank’s liability mix and cost of deposits resulted in a 12 basis point reduction in our cost of funds from 1.00% during the quarter ending March 31, 2011 to 0.88% during the quarter ending June 30, 2011. The cost of deposits improved by 6 basis point (7.5%) falling from 0.80% at March 31, 2011 to 0.74% at June 30, 2011. The improvement in cost of funds was offset by a 16 basis point reduction in the average yield on the Bank’s earnings assets due in part to a decline of 1.73% in the yield on securities from 7.10% during the first quarter 2011 to 5.37% during the second quarter 2011 as the Company proactively sold classified securities that may have been subjected to further downgrades by rating agencies. Proceeds from these sales, and other excess liquidity was invested into shorter term, liquid securities. The Company also experienced a 0.04% decline in loan yields from 4.56% during the first quarter 2011 to 4.52% in the second quarter 2011 as our adjustable rate loans re-priced and the Company recorded the impact of net reversal of accrued interest on loans that had become delinquent by more than 90 days. The Company anticipates continued reductions in the Bank’s cost of funds related to the maturity of higher yielding FHLB advances and certificates of deposit. In addition, the Bank anticipates higher levels of interest income from new lending initiatives which began funding during the second quarter 2011, as well as the conversion of non-earning assets and recovery of previously reversed interest income on loans that were delinquent more than 90 days. Allowances for loan losses remained adequate in the second quarter of 2011. The strong level of available allowances at December 31, 2010 combined with further improvement in the Bank’s core loan portfolio allowed the Bank to absorb additional charges during the period. Notwithstanding credit metrics, the Bank added $451,000 to its provision for loan losses related to increased volume of CRE loans. Non-interest income improved slightly as a result of improvements in the Bank’s retail banking operations and further benefited from a $1.1 million gain on sale of securities with a book value of $10.6 million. Salaries and employee benefits increased consistent with the Company’s restructuring plan, as the Bank hired new officers, producers, and support personnel to execute its business strategy. The Company also had acquisition-related and other non-core expenses of $244 thousand. Non-interest expenses included $646 thousand of additional OREO expenses.

Asset Quality:

Balance sheet and liquidity

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Operating results

Other Events

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CONFERENCE CALL INFORMATION

First PacTrust Bancorp, Inc. will host an earnings conference call at 1:00 (PST) on August 1, 2011, to discuss second quarter 2011 results as well as other matters. To access the conference call, please dial (866) 509-2785. The related presentation slides in PDF format will be available in the Annual Reports & Presentations section of the Company’s Investor Relations Web site at www.firstpactrustbancorp.com.

For those unable to participate in the conference call, a recording of the call will be archived on the investor relations page of First PacTrust Bancorp’s website at www.firstpactrustbancorp.com for 90 days following the presentation.

First PacTrust Bancorp, Inc. is the parent holding company of Pacific Trust Bank and is headquartered in Chula Vista, California. Pacific Trust Bank provides a full range of banking products and services designed for small- to mid-sized businesses and their owners, real estate professionals and individuals interested in a comprehensive relationship with their financial institution.

The financial institution began operations in 1941 and has since grown to $863 million assets as of June 30, 2011. Pacific Trust Bank is now the largest federally chartered community bank headquartered in San Diego County, currently with 11 offices primarily serving San Diego and Riverside counties. The Bank provides customers with the convenience of banking at more than 4,300 branch locations throughout the United States as part of the CU Services Network and 28,000 fee-free ATM locations through the CO-OP ATM Network

Additional information concerning First PacTrust Bancorp, Inc. can be accessed at www.firstpactrustbancorp.com.

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Statements contained in this news release that are not historical facts may constitute forward-looking statements (within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended), which involve significant risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of invoking these safe harbor provisions. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations and future prospects of the Company and the subsidiaries include, but are not limited to, changes in interest rates, general economic conditions, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government, including the U.S. Treasury and the Federal Reserve Board, the quality or composition of the Company’s loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company’s market area, the possible short-term dilutive effect of potential acquisitions 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.

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SELECTED DETAIL ON CHANGES IN LOAN QUALITY AND RISK

Non-performing Loans. The following table is a summary of our nonperforming assets, net of specific valuation allowances, at June 30, 2011 and December 31, 2010 (dollars in thousands):

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Troubled Debt Restructured Loans (TDRs). As of June 30, 2011 the Company had 32 loans with an aggregate balance of $21.9 million, net of specific valuation allowances, classified as TDR compared to $23.1 million at December 31, 2010. Specific valuation allowances totaling $745.9 thousand (net of $2.8 million previously charged off) have been established for these loans as of June 30, 2011 compared to $3.1 million at December 31, 2010. When a loan becomes a TDR the Company ceases accruing interest, recognizes principal and interest payments on a cash basis and classifies it as non-accrual until the borrower has made at least six consecutive payments and in certain instances twelve consecutive payments under the modified terms. Of the 32 loans classified as TDR, 24 loans totaling $13.2 million are performing under their modified terms (defined as less than 90 days delinquent). Two TDR loans totaling $1.9 million were recently restructured and have not been required to make their first payment as of June 30, 2011. Of the performing TDRs, $6.8 million have been paying as agreed for more than six months and are on accrual status while $8.3 million are performing and earning interest on a cash basis but are classified non-accrual because the borrower has yet to make six consecutive payments under the modified agreement. Six TDR loans with an aggregate balance of $6.7 million are “nonperforming” (defined as over 90 days delinquent). Nonperforming TDR loans consist of one Green loan with an aggregate balance of $1.0 million secured by a one- to four-family property, three loans totaling $2.2 million secured by land, one loan with an aggregate balance of $3.3 million secured by multi-family residences, and one loan totaling $205.0 thousand secured by single family residences. These loans will either return to a performing TDR status or move through the Bank’s normal collection process for non-performing loans.

The following table presents the seasoning of the Bank’s performing restructured loans, their effective balance (principal balance minus specific valuation allowances charged-off), and their weighted average interest rates (dollars in thousands):

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FIRST PACTRUST BANCORP, INC.

CONSOLIDATED BALANCE SHEETS

(Amounts in thousands except per share data)

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FIRST PACTRUST BANCORP, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except share and per share data)

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FIRST PACTRUST BANCORP, INC.

ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS

(Amounts in thousands, except share and per share data)

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FIRST PACTRUST BANCORP, INC.

ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS

(Amounts in thousands, except share and per share data)

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FIRST PACTRUST BANCORP, INC.

SELECTED QUARTERLY FINANCIAL DATA

(Amounts in thousands, except share and per share data)