Shannon Millard Will Lead Retail Banking at First Federal Bank of California

SANTA MONICA, Calif - First Federal Bank of California, the wholly-owned subsidiary of FirstFed Financial Corp. (NYSE:FED) and the fourth largest Los Angeles-based financial institution has announced the appointment of Shannon Millard to lead its Retail Banking Division. Ms. Millard is responsible for the growth and retention of the Bank’s Retail client base within its 33-branch network. As Executive Vice President of the Bank and President of its Retail Banking Division, Ms. Millard’s responsibilities include Retail Operations, Consumer Lending, the Retail Call Center and the Bank’s Wealth Management and Trust Division.

With lending, real estate and managerial experience from Sumitomo Bank of California and The Bank of California, Ms. Millard joined First Federal Bank of California in 1992 to manage the Loan Underwriting Department and to set up an asset management unit within the Bank. In July 1994, Ms. Millard was promoted to Executive Vice President, Chief Credit Officer responsible for the Appraisal, Loan Service Center, Lending Compliance/Credit Review, Internal Asset Review and REO/Asset Management Departments. In May 2004, Ms. Millard assumed the reins of the Bank’s Residential Wholesale Lending Division and during her tenure, the loan portfolio doubled in size. In November 2005 Ms. Millard took over the leadership of the Bank’s Income Property Lending Group and was promoted to President of the Real Estate Lending Division in January 2006.

According to James P. Giraldin, First Federal Bank of California’s President and Chief Operating Officer, “Shannon has a proven track record of success at First Fed. Shannon’s appointment to this pivotal position allows us to capitalize on her knowledge and expertise to give our Retail Banking Division the fresh, strategic and dynamic leadership needed to meet the Bank’s aggressive growth and expansion plan for our Retail Banking base.”