Exhibit 99.1

MANHATTAN BANCORP

Contact Information:

MANHATTAN BANCORP REPORTS FINANCIAL RESULTS FOR THIRD QUARTER 2011

(OTCBB: MNHN)

LOS ANGELES, CA — November 14, 2011 — Manhattan Bancorp (“Company”), the holding company of the Bank of Manhattan, N. A. (“Bank”), and MBFS Holdings, Inc., which owns a majority interest in Manhattan Capital Markets, LLC (“MCM”), announced today its financial results for the quarter ended September 30, 2011.

The Company reported a net loss of $1.83 million for the three months ended September 30, 2011, which is $67 thousand greater than our $1.76 million loss recorded in the prior quarter(1). However, excluding a one-time impairment charge related to subsidiary goodwill, third quarter results reflect a $213 thousand (12.1%) improvement compared with prior quarter results. The current quarter’s loss attributable to common stockholders of Manhattan Bancorp(2) is $1.58 million, translating to a loss of $0.40 per share, unchanged from the prior quarter.

For the nine months ended September 30, 2011, the Company lost $5.13 million, compared with a loss of $3.38 million for the same period in the prior year. The year-to-date loss attributable to common stockholders of Manhattan Bancorp is $4.62 million, translating to a loss of $1.16 per share, compared with a loss of $0.85 per share for the same period in the prior year.

FINANCIAL HIGHLIGHTS

Despite this quarter’s net loss, the Company saw some modest improvements in operating results, especially when compared with the prior quarter.

·                  Assets as of September 30, 2011 totaled $146.8 million, reflecting an increase of $7.9 million (5.7%) compared with the prior quarter.

·                  Total loans(3) as of September 30, 2011 totaled $107.7 million, reflecting an increase of $21.3 million (24.7%) compared with the prior quarter. More than three-quarters of this

(1)  The term “prior quarter” throughout this document refers to the second quarter of 2011.

(2)  Loss attributable to common stockholders of Manhattan Bancorp excludes loss attributable to non-controlling interests.

(3)  Excludes allowance for loan and lease losses.

increase was generated by the Bank’s mortgage division, which is reflected in loans available-for-sale. Concurrent with the increase in loans available-for-sale, the Bank’s loans held-for-investment increased by $4.8 million (5.9%) compared with the prior quarter.

·                  The Company’s deposits at September 30, 2011 totaled $111.6 million, an increase of $1.5 million (1.3%) from the prior quarter.  Compared with the prior quarter, the Bank’s core deposits(4) increased by $10.6 million (12.3%), primarily driven by a 24.6% increase in non-interest bearing demand deposits. This increase in the Bank’s core deposits more than offset a $6.3 million (25.9%) decrease in more expensive non-core deposits. As a result, core deposits as a percent of total deposits increased to 84.4% as of September 30, 2011 compared with 78.2% as of June 30, 2011.

·                  Borrowings totaled $13.0 million as of September 30, 2011, reflecting an increase of $7.4 million (132%) compared with the prior quarter. Of this, $5 million represented the Company’s borrowings pursuant to a credit agreement with Carpenter Community Bancfund, L.P. and Carpenter Community Bancfund-A, L.P. The Company used these proceeds to make a $5 million loan to MCM. Almost all of these funds were used by MCM to infuse capital into its various subsidiaries in order to grow business volumes and increase revenues.

·                  The Company’s $1.8 million loss in the third quarter of 2011 was $67 thousand (3.8%) greater than its net loss in the prior quarter. This unfavorable change was due primarily to an $889 thousand (18.6%) increase in non-interest expenses and, to a lesser extent, a $152 thousand (11.9%) decline in net interest income after provision for loan losses. These unfavorable changes were almost entirely offset by a $985 thousand (56.4%) increase in the Company’s non-interest income.

·                  Compared with the prior quarter, the Company’s operating expenses(5) in the third quarter of 2011 increased by $610 thousand (12.8%). However, this unfavorable change was more than offset by a $985 thousand (56.4%) increase in the Company’s non-interest income, resulting in a net favorable impact on earnings of $375 thousand. This net favorable change was driven primarily by the Company’s core bank and, to a much lesser extent, its mortgage banking unit. However, it should be noted that the growth in non-interest income in each of the Company’s primary operating segments(6) more than offset increases in each segment’s operating expenses.

·                  In the third quarter of 2011, all of the goodwill on MCM’s balance sheet was determined to be impaired under current accounting guidance. As a result, we recorded an impairment charge of $279 thousand related to subsidiary goodwill, which is reported as a separate component of non-interest expense. This charge is not expected to impact our ongoing operations, tangible equity, or liquidity. Also, our capital ratios remain well

(4)  Core deposits are deposits maintained by the bank’s retail and commercial customers. Non-core deposits are maintained by financial institutions. (The bank had no brokered deposits.)

(5)  Operating expenses include all non-interest expenses except the impairment charge related to subsidiary goodwill.

(6)  The Company’s three primary operating segments consist of MCM, Core Bank, and Mortgage Bank.

above thresholds required for the “well capitalized” designation under generally applicable regulatory guidelines (as discussed in more detail below).

·                  The $152 thousand (11.9%) decline in net interest income (NII), net of provision for loan losses, reflects the impact of a 0.27% reduction in our net interest margin (NIM) and, to a lesser extent, a $50 thousand negative loan loss provision that was recorded in the prior quarter(7). The decrease in NIM, which reduced NII by $102 thousand (8.4%), was due primarily to lower loan yields which, in turn, reflected heightened market competition in an unprecedented low interest rate environment.

·                  As of September 30, 2011, the Bank’s allowance for loan and lease losses represented 2.13% of loans held-for-investment, compared with 2.26% as of June 30, 2011 and 2.10% as of December 31, 2010.

·                  Capital ratios for the Bank continue to exceed levels required by banking regulators to be considered “well-capitalized” (the highest level specified by regulators). For example, as of September 30, 2011, the Bank’s total risk-adjusted capital ratio, tier 1 risk-adjusted capital ratio, and tier 1 capital ratio were 18.1%, 16.8%, and 13.3%, respectively, well above the regulatory requirements of 10%, 6%, and 5%, respectively, to be considered “well-capitalized.”

President & Chief Executive Officer Terry L. Robinson stated: “In order for Manhattan Bancorp to achieve sustainable profitability, we clearly need to better leverage our operating infrastructure through significant growth. Although it has been very difficult to grow our various lines of business in the current economic environment, third-quarter results indicate that we now are gaining traction and seeing some modest improvement.” Executive Vice President and Chief Financial Officer Brian E. Côté added: “We have witnessed meaningful growth in our loan portfolios despite heightened competition in an unprecedented low interest rate environment. In addition, our mortgage division reached breakeven volumes for the first time since commencing operations late last year. We will maintain our focus in both of these areas to further improve our financial results going forward.”

The Bank, which opened for business on August 15, 2007, is a full service bank headquartered in the South Bay area of Los Angeles, California.  The Bank’s primary focus is relationship banking and residential mortgages to entrepreneurs, family-owned and closely-held middle market businesses, real estate investors and professional service firms. The Company, through its wholly owned subsidiary, MBFS Holdings, Inc., also owns a majority interest in Manhattan Capital Markets LLC.  Manhattan Capital Markets LLC is a holding company for multiple wholly-owned subsidiaries, including BOM Capital LLC, a full service mortgage-centric broker/dealer. Additional information is available at www.BankManhattan.com.

(7)  In the second quarter of 2011, we recorded a negative loan loss provision of $50 thousand in order to reallocate $50 thousand from our loan loss allowance to a contingency reserve for sold loans. This reserve, which is included in other liabilities, is to provide for potential losses due to early payoffs, early payment defaults, or fraud related to loans sold to investors. We have incurred no losses due to early payoffs, early payment defaults, or fraud related to loans sold to investors from inception to date. No provision for loan losses was recorded in the third quarter of 2011.

FORWARD LOOKING STATEMENTS

Certain matters discussed in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements relate to, among other things, the Company’s current expectations regarding deposit and loan growth, operating results and the strength of the local economy.  These forward looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward looking statements.  These risks and uncertainties include, but are not limited to: (1) the impact of changes in interest rates, a decline in economic conditions and increased competition among financial service providers on Bank of Manhattan’s operating results, ability to attract deposit and loan customers and the quality of Bank of Manhattan’s earning assets; (2) government regulation; and (3) the other risks set forth in the Company’s 10-K and other reports filed with the SEC. Risk Factors filed with the Securities and Exchange Commission.  The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.

Manhattan Bancorp and Subsidiaries

Consolidated Balance Sheets

(unaudited)

Manhattan Bancorp and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

Manhattan Bancorp and Subsidiaries

Financial Highlights

(dollars in thousands, except for per share amounts)

(Unaudited)