Capital Corp. of the West Announces Moves to Strengthen Operations and Capital

MERCED, Calif.--(Business Wire)--
In an effort to strengthen its operations and capital position,
the Board of Directors of Capital Corp of the West (Nasdaq:CCOW), the
parent company of County Bank, has formed a Regulatory Oversight
Committee (ROC) composed of three outside directors. The committee
includes independent Directors Michael Graves, Audit Committee Chair,
and Jerry Callister, Chairman of the Board. The ROC will be chaired by
Director Donald T. Briggs, Jr. Mr. Briggs is a retired partner of KPMG
where he served in a variety of management positions. The Oversight
Committee has been given authority by the CCOW board to oversee all of
the company's operations. CCOW CEO Thomas T. Hawker, who also serves
as CEO of County Bank, and the bank's executive committee will report
directly to the newly formed Oversight Committee. The Board is in the
process of searching for a new CEO to succeed Hawker. Mr. Hawker,
whose contract would otherwise expire at the end of 2008, has
announced his retirement to be effective upon the hiring of the new
CEO.

In order to strengthen its capital position and develop strategic
alternatives to enhance shareholder value, the CCOW board has retained
the investment banking firm of Keefe, Bruyette & Woods (KBW) as its
exclusive financial advisor. KBW will seek to raise capital and
evaluate other strategic alternatives for the company. KBW,
headquartered in New York, assisted the company in the past and is
very familiar with the company's current operations.

Mr. Briggs stated that County Bank, the largest community bank in
California's Central Valley, has always been a viable community-based
bank with a strong, dedicated commitment to serving its communities.
"We fully intend to continue operating in that style," said Briggs.
"We have always had a strong capital position. In the past, we have
consistently operated above the 10 percent risked-based capital ratio,
which, by regulatory definition, is a well-capitalized institution.
With our new operating structure, KBW on board as key advisors and our
future performance, we believe we can soon return to those levels."

About Capital Corp of the West

Capital Corp of the West, a bank holding company established
November 1, 1995, is the parent company of County Bank, which has over
30 years of service as "Central California's Community Bank."
Currently, County Bank has forty-one branch offices serving thirteen
counties in California. Its primary concentration is in the Central
Valley of California. As of the latest FDIC data, County Bank has a
7.29% market share in the six Central California counties in which it
has a significant retail branch presence, ranking County Bank fifth
out of forty-one financial institutions in that market area.

Note: This document contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainties, including statements regarding
the Company's intention to file its Form 10-K on or before the
fifteenth day following its prescribed due date (the "extension
deadline") and the completion of matters necessary to permit filing by
the extension deadline. There can be no assurances that these
forward-looking statements will be achieved, and actual results could
differ materially from those suggested by such forward-looking
statements. Important factors that could cause actual results to
differ materially include: whether the Company can complete its
financial statements by the extension deadline, in light of material
weaknesses identified above; whether the Company can complete by the
extension deadline matters relating to analysis of the required level
of its allowance for loan losses; whether all or any of these matters
affect the ability of the Company's outside auditors to complete their
audit and any related procedures required with respect to the Form
10-K; the impact, if any, of the results and findings on the financial
statements of the Company; and risks of litigation and governmental or
other regulatory inquiry or proceedings arising out of or related to
any of the matters described above. Therefore, any forward-looking
statements in this press release should be considered in light of
various important factors, including the risks and uncertainties
listed above, as well as others. The Company makes no commitment to
revise or update any forward-looking statements in order to reflect
events or circumstances after the date any such statement is made.

Capital Corp of the West
Donald T. Briggs, Jr., 209-725-7405

Copyright Business Wire 2008