LA JOLLA, Calif., Dec. 23 /PRNewswire-FirstCall/ -- Imperial Capital Bank ("ICB"), the wholly owned subsidiary of Imperial Capital Bancorp, Inc. (NYSE: IMP), announced today that Fitch Ratings has upgraded its Primary Servicer and Special Servicer Ratings to'SBPS3+' and 'SBSS3+', respectively. Fitch Ratings action was based on ICB's experience, its well tenured servicing management and staff, including asset managers, and its long history as a small balance commercial loan servicer. Since Fitch's last review, ICB has hired a new senior asset manager, created a special asset department to closely monitor assets going through loss mitigation, expanded its cross-functional training, and upgraded its servicing system to provide more detailed current appraisal and financial information online. Fitch also noted that ICB began utilizing its most experienced credit officers and appraisers as part of its asset management department to augment its loss mitigation efforts and modification workout solutions. Fitch stated it believes that ICB has an experienced management team, developed processes and procedures and well integrated technology to effectively manage its current primary and special small balance commercial servicing portfolio. President and Chief Executive Officer George Haligowski stated that, "We are pleased with the recognition from Fitch with regard to our Primary and Special Servicer Ratings. It reinforces the improvements made to our servicing processes, as well as our experience in managing our small balance commercial mortgage loans and other real estate owned. It also recognizes the enhancements made to our information technologies as it relates to our servicing system." "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, changes in economic conditions in our market areas, changes in policies by regulatory agencies and other governmental initiatives affecting the financial services industry, the impact of competitive loan products, loan demand risks, the quality or composition of our loan or investment portfolios, increased costs from pursuing the national expansion of our lending platform and operational challenges inherent in implementing this expansion strategy, fluctuations in interest rates, and changes in the relative differences between short- and long-term interest rates, levels of non-performing assets and other loans of concern, and operating results, the economic impact of any terrorist actions and other risks detailed from time to time in our filings with the Securities and Exchange Commission. We caution readers not to place undue reliance on any forward-looking statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for 2008 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us, and could negatively affect the Company's operating and stock price performance. Imperial Capital Bancorp, Inc. is a publicly traded diversified bank holding company specializing in commercial real estate lending on a national basis and is headquartered in San Diego, California. The Company conducts its operations through Imperial Capital Bank and Imperial Capital Real Estate Investment Trust. Imperial Capital Bank has nine retail branch locations and 14 loan origination offices serving the Western United States, the Southeast, the Mid-Atlantic States, the Ohio Valley, the Metro New York area and New England. For additional information, contact Timothy M. Doyle, Executive Managing Director and Chief Financial Officer, at (858) 551-0511. DATASOURCE: Imperial Capital Bank CONTACT: Timothy M. Doyle, Executive Managing Director and Chief Financial Officer of Imperial Capital Bank, +1-858-551-0511 Web Site: http://www.imperialcapitalbancorp.com/

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