ITLA Itla Capital

ITLA Capital Corporation Announces Agreement With Fannie Mae LA JOLLA, Calif., Feb. 23 /PRNewswire-FirstCall/ -- ITLA Capital Corporation (NASDAQ:ITLA) announced today that its wholly-owned banking subsidiary, Imperial Capital Bank ("ICB" or "the Bank"), signed a loan purchase and servicing agreement with Fannie Mae (NYSE:FNM). Under the agreement, the Bank will originate small, fixed rate multifamily loans with 5-, 7-, 10- and 15-year terms for sale to Fannie Mae as a Fannie Mae-approved M-Flex(TM) Lender. ICB will originate these loans, along with its existing array of multifamily and commercial real estate loans, through its national network of loan production offices. "We are excited about our new relationship with Fannie Mae," said ITLA's President and Chief Executive Officer, George W. Haligowski. "The small multifamily fixed rate loans, to be originated by the Bank and sold to Fannie Mae, will give the Bank's customers a competitive financing alternative, in addition to our longstanding and successful adjustable rate multifamily and commercial real estate loan products. ICB will also service these loans sold to Fannie Mae. Haligowski concluded: "Last year, ICB secured a primary servicer rating from Fitch Ratings to take advantage of third party servicing opportunities. ICB's goal of utilizing this servicer rating, while expanding its product line has now come to fruition with the penning of this Fannie Mae relationship. This is a fantastic diversification and growth opportunity for ICB, and we look forward to bringing this multifamily fixed rate product to market." "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 the Company's market areas, changes in policies by regulatory agencies, the impact of competitive loan products, loan demand risks, the quality or composition of the loan or investment portfolios, increased costs from pursuing the national expansion of our small balance multifamily 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 operating results, the economic impact of terrorist actions and other risks detailed from time to time in the Company's filings with the Securities and Exchange commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake and specifically disclaims 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 the Company's actual results for 2005 and beyond to differ materially from those expressed in any forward looking statements by, or on behalf of, the Company. ITLA Capital Corporation is the largest financial services company headquartered in San Diego, California, and conducts its operations through Imperial Capital Bank and Imperial Capital Real Estate Investment Trust. Imperial Capital Bank has seven retail branch locations and thirty-one lending offices located in California, Nevada, Arizona, Texas, the Southeast, the Mid Atlantic states, the Metro New York area, and New England. For further information, please contact Timothy M. Doyle, Senior Managing Director and Chief Financial Officer of ITLA Capital Corporation, +1-858-551-0511. DATASOURCE: ITLA Capital Corporation CONTACT: Timothy M. Doyle, Senior Managing Director and Chief Financial Officer of ITLA Capital Corporation, +1-858-551-0511 Web site: http://www.itlacapital.com/

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