ARTICLES of INCORPORATION
of
First Community Bancorp
FIRST. The name of the corporation is First Community Bancorp.
SECOND. The purpose of the corporation is to engage in any lawful act
or activity for which a corporation may be organized under the General
Corporation Law of California other than the banking business, the trust company
business or the practice of a profession permitted to be incorporated by the
California Corporations Code.
THIRD. The name of the corporation's initial agent for service of
process in the State of California is CT Corporation System.
FOURTH. (a) The corporation is authorized to issue two classes of
shares: Common and Preferred. The number of shares of Common Stock authorized to
be issued is 15,000,000 and the number of shares of Preferred Stock authorized
to be issued is 5,000,000.
(b) The Preferred Stock may be divided into such number of series as
the board of directors may determine. The board of directors is authorized to
determine and alter the rights, preferences, privileges and restrictions granted
to or imposed upon any wholly unissued series of Preferred Stock, and to fix the
number of shares of any series of Preferred Stock and the designation of any
such series of Preferred Stock.
FIFTH. (a) The liability of the directors of the corporation for
monetary damages shall be eliminated to the fullest extent permissible under
California law.
(b) The corporation is authorized to indemnify its agents to the
fullest extent permissible under California law. For purposes of this provision,
the term "agent" has the meaning set forth from time to time in Section 317 of
the California Corporations Code.
(c) Any amendment, repeal or modification of any provision of this
Article Fifth shall not adversely affect any right of protection of an agent of
this corporation existing at the time of such amendment, repeal or modification.
IN WITNESS WHEREOF, I have executed these Articles of Incorporation
this 22nd day of October, 1999.
/s/ Ondraus Jenkins
-----------------------------
Ondraus Jenkins,
Incorporator
