EXHIBIT 99

FOR IMMEDIATE RELEASE


                        ITLA CAPITAL CORPORATION APPOINTS
                           TWO KEY FINANCIAL OFFICERS
                 TIMOTHY DOYLE BECOMES CHIEF FINANCIAL OFFICER,
                          DON NICKBARG NAMED TREASURER

     La Jolla,  Calif. (May 5, 2000) -- ITLA Capital  Corporation  (NASDAQ-ITLA)
today  announced the  appointment of Timothy M. Doyle as its new Chief Financial
Officer and Don Nickbarg as  Treasurer.  The move is part of a  succession  plan
following the resignation of Chief Financial Officer Michael A. Sicuro,  who has
accepted a similar post with a local technology company.

     ITLA Capital  Corporation  President and Chief Executive  Officer George W.
Haligowski  stated that:  "Michael  has made  significant  contributions  to the
Company's  successes  over the last four  years.  We wish him well in his future
endeavors in the technology arena."

     Sicuro  commented:  "I have been honored and privileged to have worked with
George and the entire ITLA team over the last four years and will continue to be
a strong supporter of the Company and its mission."

     Haligowski continued:  "Tim Doyle has been a solid member of our management
team since 1996 and has over 20 years of experience  as a finance  professional.
His expertise in budget administration and efficiencies will continue to set the
course for the company's operations and assure a smooth transition."

     Assisting  Doyle and reporting  directly to Haligowski,  Nickbarg brings 25
years of global finance  experience to the ITLA team. "In his post as Treasurer,
Nickbarg's  blue  chip  background  in  treasury   functions  and  international
investment banking will be a tremendous asset to the Company," said Haligowski.

     Doyle has been  Managing  Director and Chief  Administrative  Officer since
joining  ITLA in 1996 and has  been  active  in the  Company's  capital  markets
activities.  Prior to joining  ITLA,  Doyle was the  Controller  and Director of
Operations  at  Northeastern   Plastics  in  New  York  (1995-1996),   Assistant
Controller  of Alpha Wire  Corporation  (1992-1994),  and as Vice  President and
Chief Financial Officer of Halivest  International  (1989-1991).  Prior to that,
Doyle was the Chief  Financial  Officer of the Shepaug  Corporation  in New York
(1982-1988),  and he was a certified  public  accountant  with a New  York-based
accounting and tax firm (1979-1982).


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     Nickbarg  joined ITLA in 1998 and most recently  served as Deputy  Managing
Director of new  business  development.  Prior to joining  ITLA,  he spent eight
years in New York,  working as a consultant  with Centennial  International  LLC
(1996-1998),  as CFO for AIOC Corp. (1994-1996),  and as Vice President and Team
Leader at Chase Manhattan Bank (1990-1994).  His  international  resume includes
four years in London as Vice President and Treasurer of Drexel  Burnham  Lambert
Holdings,  Ltd. (1986-1990) and six years as Vice President of the Hong Kong and
Shanghai Banking Corp. Marine Midland Bank in Singapore, London and New York.

     "Safe Harbor" statement under the Private Securities  Litigation Reform Act
of 1995: This release  contains  forward looking  statements that are subject to
risks and  uncertainties,  including,  but not limited  to,  changes in economic
conditions  in the  Company's  market  areas,  changes in policies by regulatory
agencies,   the  impact  of  competitive  loan  products,   loan  demand  risks,
fluctuations  in interest  rates and operating  results and other risks detailed
from time to time in the  Company's  filings  with the  Securities  and Exchange
Commission.  The Company  cautions  readers  not to place undue  reliance on any
forward  looking  statements.  The Company does not undertake  and  specifically
disclaims any obligation,  to revise any forward  looking  statements to reflect
the occurrence of anticipated or unanticipated events or circumstances after the
date of such  statements.  These risks could cause the Company's  actual results
for 2000 and beyond to differ  materially  from those  expressed  in any forward
looking statements by, or on behalf of, the Company.

     ITLA Capital  Corporation  and its  subsidiaries  is the largest  financial
services company  headquartered in San Diego County and is the parent company of
Imperial  Capital  Bank  which  has  offices  in  California  and  Nevada,  ITLA
Commercial  Securitization  Corporation (the REIT), ITLA Funding Corporation and
ITLA Commercial Investment Corporation.

     For additional information, contact Timothy M. Doyle, Managing Director and
Chief Financial Officer at (858) 551-0511.