2006 ANNUAL REPORT - Far East National Bank

INDEPENDENT AUDITORS’ REPORTTo the Board of Directors and Stockholder ofFar East National BankLos Angeles, CaliforniaWe have audited the accompanying consolidated balance sheet of Far East National Bank and subsidiary(the “Bank”) as of December 31, 2006, and the related consolidated statements of income, stockholder’sequity and comprehensive income and cash flows for the year then ended. These financial statements are theresponsibility of the Bank's management. Our responsibility is to express an opinion on these financialstatements based on our audit. The consolidated financial statements of Far East National Bank andsubsidiaries as of December 31, 2005, were audited by other auditors whose report dated March 31, 2006,expressed an unqualified opinion on those statements.We conducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica. Those standards require that we plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free of material misstatement. An audit includes examining, on a testbasis, evidence supporting the amounts and disclosures in the financial statements. An audit also includesassessing the accounting principles used and significant estimates made by management, as well asevaluating the overall financial statement presentation. We believe that our audit provides a reasonable basisfor our opinion.In our opinion, the 2006 consolidated financial statements referred to above present fairly, in all materialrespects, the financial position of Far East National Bank and subsidiary as of December 31, 2006, andthe results of their operations and their cash flows for the year then ended in conformity with accountingprinciples generally accepted in the United States of America.March 1, 200711