First California Financial Group, Inc. (NASDAQ: FCAL) today reported net income rose to $2.2 million for the quarter ended March 31, 2008, or 19 cents per diluted share, compared with a first quarter 2007 net loss of $1.1 million, or 15 cents per diluted share. Year-ago results include costs related to the three-bank merger that created First California in March 2007.

First California Financial Group, Inc. (NASDAQ: FCAL) today announced its board of directors has authorized a repurchase of up to $5 million of the company's common stock. The company is authorized until November 2008 to purchase shares from time to time in open market or privately negotiated transactions, depending on market conditions.