Subsequent Events

6 Months Ended

Jun. 30, 2012

Subsequent Events

Subsequent Events

Note 10 — Subsequent Events

In July 2012, the Company entered into a long-term operating lease agreement for office space to move its corporate offices from the city of Costa Mesa to 17901 Von Karman Avenue, Irvine, California.  It is intended that part of the corporate facility will house a branch office of the Bank and a majority of the administrative operations of the Company.  The lease commences on March 1, 2013 with an early access period commencing on November 1, 2012, for which no rent is payable.  The lease is non-cancelable and has a term of seven-years expiring on February 28, 2021 with options to renew and extend.  The cost of any leasehold improvements will be amortized using the straight-line method over the shorter of the estimated useful life of the asset or the term of the lease.  The following table summarizes the Company’s future minimum lease commitments under this non-cancelable lease:

	Lease Commitment
2012	$	0
2013	$	80
2014	$	1,210
2015	$	1,260
2016	$	1,304
Thereafter	$	4,265
Total	$	8,119