Document:

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                                                                    EXHIBIT 10.7

                                 LIFE INSURANCE
                      ENDORSEMENT METHOD SPLIT DOLLAR PLAN
                                    AGREEMENT

Insurer/Policy Number:          Beneficial Life Insurance  #BL2103238
                                Jefferson Pilot Insurance  #JP5195818
                                Massachusetts Mutual Life
                                Insurance                  #0045169

Bank:                           Southwest Community Bank

Insured:                        Frank J. Mercardante

Relationship of Insured to Bank: Executive Officer

Date:

The respective rights and duties of the Bank, the Mercardante 2001 Irrevocable
Trust (the "Trust") and the Insured in the above policy(ies) (the "Policy" or
Policies) shall be as follows:

I.       DEFINITIONS

         Refer to the Policy provisions for the definition of all terms in this
Agreement.

II.      POLICY TITLE AND OWNERSHIP

         Title and ownership shall reside in the Bank for its use and for the
         use of the Trust all in accordance with this Agreement. The Bank alone
         may, to the extent of its interest, exercise the right to borrow or
         withdraw the Policy cash values. Where the Bank and the Trust, with the
         consent of the Insured, mutually agree to exercise the right to
         increase the coverage under the subject split dollar Policy, then, in
         such event, the rights, duties and benefits of the parties to such
         increased coverage shall continue to be subject to the terms of this
         Agreement.

III.     BENEFICIARY DESIGNATION RIGHTS

         The Insured shall have the right and power to require the Bank to
         designate a beneficiary or beneficiaries to receive the proceeds
         payable upon the death of the Insured, subject to any right or interest
         the Bank may have in such proceeds, as provided in this Agreement.
         Pursuant to said right, the Insured irrevocably directs the Bank and
         the Bank agrees to designate the Trust as beneficiary of the Policy.
         Said designation shall be irrevocable and thus may not be changed by
         anyone, except in the event the Agreement terminates as provided under
         Article X herein and the Policy is not assigned to the Trust.

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IV.      PREMIUM PAYMENT METHOD

         The Bank shall pay an amount equal to the planned premiums and any
         other premium payments that might become necessary to maintain the
         Policy in force.

V.       TAXABLE BENEFIT

         Annually the Insured will receive additional compensation equal to the
         assumed cost of insurance as required by the Internal Revenue Service
         plus the amount of any taxes paid and taxes on taxes paid (collectively
         "Taxes") related to the receipt of the benefit ("gross up"). This
         amount shall not exceed $8,620 per year. For example:

         If the taxable income is $10,000 and the highest combined marginal
         Federal and California income tax bracket plus FICA taxes and the
         Medicare tax is 40%, then the Taxes would be $10,000 multiplied by 40%
         ($4,000) divided by .60 = $6,667. The Bank (or its administrator) will
         report to the Insured the amount of imputed income received each year
         on Form W-2 or its equivalent.

VI.      DIVISION OF DEATH PROCEEDS

         Subject to Paragraph VII herein, the division of the death proceeds of
         the Policy is as follows: ,

         1.       If death occurs on or before the attainment of age sixty-five
                  (65), the Trust shall be entitled to an amount equal to the
                  lesser of $1,820,000, or one hundred percent (100%) of the net
                  at risk insurance portion of the proceeds. If death occurs
                  after age sixty-five (65) but on or before age seventy (70),
                  the Trust shall be entitled to the lesser of $1,400,000, or
                  one hundred percent (100%) of the net at risk insurance
                  proceeds. If death occurs after age seventy (70) but on or
                  before age eighty (80), the Trust shall be entitled to the
                  lesser of $980,000, or one hundred percent (100%) of the net
                  at risk insurance proceeds. If death occurs after age eighty
                  (80), the Trust shall be entitled to the lesser of $560,000,
                  or one hundred percent (100%) of the net at risk insurance
                  proceeds. The net at risk insurance portion is the total
                  proceeds less the cash value of the Policy.

         2.       The Bank and the Trust shall share in any interest due on the
                  death proceeds on a pro rata basis in the ratio that the
                  proceeds due the Bank and the Trust, respectively, bears to
                  the total proceeds, excluding any such interest.

         3.       In the event that the Policy is terminated other than as a
                  result of (a) a termination of this Agreement pursuant to
                  paragraph X or (b) any intentional act of the Insured which
                  results in the termination of the Policy, then the Bank shall
                  pay to the Trust an amount which will provide a total
                  after-tax death benefit equal to the benefit that the Insured
                  would have received if the Policy had not been terminated.

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         4.       In the event that the Policy is terminated other than as a
                  result of (a) a termination of this Agreement pursuant to
                  paragraph X or (b) any intentional act of the Insured which
                  results in the termination of the Policy, then the Bank shall
                  pay to the trust an amount which will provide a total
                  after-tax death benefit equal to the benefit that the Insured
                  would have received if the Policy had not been terminated.

VII.     DIVISION OF CASH SURRENDER VALUE

         The Bank shall at all times be entitled to an amount equal to the
         Policy's cash value, as that term is defined in the Policy, less any
         Policy loans and unpaid interest or cash withdrawals previously
         incurred by the Bank and any applicable Policy surrender charges. Such
         cash value shall be determined as of the date of surrender of the
         Policy or death of the Insured as the case may be

VIII.    PREMIUM WAIVER

         If the Policy contains a premium waiver provision, any such waived
         amounts shall be considered for all purposes of this Agreement as
         having been paid by the Bank.

IX.      RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS

         In the event the Policy involves an endowment or annuity element, the
         Bank's right and interest in any endowment proceeds or annuity benefits
         shall be determined under the provisions of this Agreement by regarding
         such endowment proceeds or the commuted value of such annuity benefits
         as the Policy's cash value. Such endowment proceeds or annuity benefits
         'shall be treated like death proceeds for the purposes of division
         under this Agreement.

X.       TERMINATION OF AGREEMENT

         This Agreement shall terminate at the option of the Bank following
         thirty (30) days written notice to the Insured and the Trust upon the
         happening of any one of the following:

         1.       The Insured's right to receive benefits under that certain
                  Executive Supplemental Compensation Agreement effective as of
                  October 17, 2001 shall terminate for any reason other than the
                  Insured's death, or

         2.       The Insured shall be discharged from service with the Bank for
                  cause. The term "for cause" shall mean:

                           (a)      The Insured's deliberate violation of (i)
any state or federal banking or securities laws, or of the Bylaws, rules,
policies or resolutions of the Employer, or (ii) of the rules or regulations of
the California Department of Financial Institutions, the Federal Deposit
Insurance Corporation, the Federal Reserve Board of Governors, the Office of the
Comptroller of the Currency or any other regulatory agency or governmental
authority having jurisdiction over the Bank, which has a material adverse
financial effect upon the Bank; or

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                           (b)      The Insured's conviction of (i) any felony
or (ii) a crime involving moral turpitude or a fraudulent or dishonest act
which, in each case, has a material adverse financial effect on the Employer.

         Upon such termination, the Trust shall have a ninety (90) day option to
         receive from the Bank an absolute assignment of the Policy in
         consideration of a cash payment to the Bank, whereupon this Agreement
         shall terminate. Such cash payment shall be an amount equal to the
         Policy's cash value, as that term is defined in the Policy, and shall
         not take into account the amount of any premiums that have been paid by
         the Bank.

         Should the Trust fail to exercise this option within the prescribed
         ninety (90) day period, the Trust agrees that all of its rights,
         interest and claims in the Policy shall terminate as of the date of the
         termination of this Agreement.

         Except as provided above, this Agreement shall terminate upon
         distribution of the death benefit proceeds in accordance with Paragraph
         VI above.

XI.      INSURED'S OR ASSIGNEE'S ASSIGNMENT RIGHTS

         Neither the Insured nor the Trust may assign to any individual, trust
         or other organization, any right, title or interest in the Policy nor
         any rights, options, privileges or duties created under this Agreement.

XII.     AGREEMENT BINDING UPON THE PARTIES

         This Agreement shall be binding upon the Insured, the Trust, and the
         Bank, and their respective heirs, successors, personal representatives
         and assigns, as applicable.

XIII.    NAMED FIDUCIARY AND PLAN ADMINISTRATOR

         The Bank is hereby designated the "Named Fiduciary" until resignation
         or removal by its Board of Directors. As Named Fiduciary, the Bank
         shall be responsible for the management, control, and administration of
         this Agreement as established herein. The Named Fiduciary may allocate
         to others certain aspects of the management and operations
         responsibilities of this Agreement, including the employment of
         advisors and the delegation of any ministerial duties to qualified
         individuals.

XIV.     FUNDING POLICY

         The funding Policy for this Agreement shall be to maintain the Policy
         in force by paying, when due, all premiums required.

XV.      CLAIM PROCEDURES

         Claim forms or claim information as to the subject Policy can be
         obtained by contacting The Benefit Marketing Group, Inc.
         (770-952-1529). When the Named Fiduciary has a claim which may be
         covered under the provisions described in the Policy it should contact
         the office named above, and they will either complete a claim form and
         forward it

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         to an authorized representative of the Insurer or advise the named
         F4duciary what further requirements are necessary. The Insurer will
         evaluate and make a decision as to payment. If the claim is payable, a
         benefit check will be issued to the Named Fiduciary.

         In the event that a claim is not eligible under the Policy, the Insurer
         will notify the Named Fiduciary of the denial pursuant to the
         requirements under the terms of the Policy. If the Named Fiduciary is
         dissatisfied with the denial of the claim and wishes to contest such
         claim denial, it should contact the office flamed above and they will
         assist in making inquiry to the Insurer. All objections to the
         Insurer's actions should be in writing and submitted to the office
         named above for transmittal to the Insurer.

XVI.     GENDER

         Whenever in this Agreement words are used in the masculine or neuter
         gender, they shall be read and construed as in the masculine, feminine
         or neuter gender, whenever they should so apply.

XVII.    INSURANCE COMPANY NOT A PARTY TO THIS AGREEMENT

         The Insurer shall not be deemed a party to this Agreement, but will
         respect the rights of the parties as set forth herein upon receiving an
         executed copy of this Agreement. Payment or other performance in
         accordance with the Policy provisions shall fully discharge the Insurer
         from any and all liability.

IN WITNESS WHEREOF, the Insured and a duly authorized Bank officer have signed
this Agreement as of the above written date.

SOUTHWEST COMMUNITY BANK                          INSURED

/s/ Howard B. Levenson                            /s/ Frank J. Mercardante
------------------------------------              ------------------------------
Howard B. Levenson                                Frank J. Mercardante
Chairman

THE MERCARDANTE 2001
IRREVOCABLE TRUST

By
   _________________________________
   Trustee

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         IRREVOCABLE BENEFICIARY DESIGNATION FORM

NAME

The Mercardante 2001 Irrevocable Trust

By _________________________________

Southwest Community Bank

By:  /s/ Howard B. Levenson
     -------------------------------
     Howard B. Levenson
     Chairman

Exhibit 10.7<PAGE>

                                                                    EXHIBIT 10.8

                        EXTENSION OF EMPLOYMENT AGREEMENT

         This Extension of Employment Agreement (the "Agreement") is made this
31st day of December, 2001 between SOUTHWEST COMMUNITY BANK, a California
banking corporation, (the "Bank"), and STUART F. McFARLAND ("McFarland") with
reference to the following facts.

         A.       McFarland is currently employed as Bank's Executive Vice
President and Chief Credit Officer.

         B.       Bank and McFarland desire to enter into this Agreement
formalizing and extending the term of McFarland's employment by the Bank and
memorializing the agreed terms of that employment.

         NOW, THEREFORE, in consideration of the mutual covenants hereinafter
set forth, and intending to be legally bound, it is agreed that the following
terms and conditions shall apply to McFarland's employment:

         A.       TERM OF EMPLOYMENT

                  1.       Term. The Bank hereby employs McFarland and McFarland
hereby accepts continued employment with the Bank for the period (the "Term")
commencing January 1, 2002 and terminating on such date and upon such terms as
provided for in Paragraph F of this Agreement. This employment is "At Will" and
may be terminated by either party, with or without cause.

         B.       DUTIES OF McFarland

                  1.       Duties. McFarland shall continue to perform the
duties of Executive Vice President and Chief Credit Officer of the Bank, subject
to the powers by law vested in the Board of Directors of the Bank and in the
Bank's shareholders. During the Term, McFarland shall perform exclusively the
services herein contemplated to be performed by McFarland faithfully,
diligently, and to the best of McFarland's ability, consistent with the highest
and best standards of the banking industry and in compliance with all applicable
laws and the Bank's Articles of Incorporation, Bylaws, and internal written
policies.

                  2.       Conflicts of Interest. Except as permitted by the
prior written consent of the Board of Directors of the Bank, McFarland shall
devote McFarland's entire productive time, ability, and attention to the
business of the Bank during the Term, and McFarland shall not directly or
indirectly render any services of a business, commercial, or professional
nature, to any other person, firm, or corporation, whether for compensation or
otherwise, which are in conflict with the Bank's interest. Notwithstanding the
foregoing, McFarland may make investments of a passive nature in any business or
venture, provided, however, that neither such business or venture is in
competition, immediately following the effective date of consummation

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of such merger or other corporate reorganization directly or indirectly, in any
manner with the Bank.

         C.       COMPENSATION

                  1.       Salary. For McFarland's services hereunder, the Bank
shall pay or cause to be paid as annual base salary to McFarland the sum of One
Hundred Fifty Thousand Dollars ($150,000) for each year (i.e., 12-month period)
of the Term. Said salary shall be payable in equal installments in conformity
with the Bank's normal payroll period. Annual adjustments after the first year
of the Term may be made in the discretion of the Board of Directors.

                  2.       Additional Compensation. McFarland's prior
arrangement for certain commissions has been terminated effective with the
commencement of the terms of this Agreement.

                  3.       Bonuses. The Bank may, but shall not be required to,
award bonuses in its sole and absolute discretion.

         D.       EMPLOYEE BENEFITS

                  1.       Vacation. McFarland shall be entitled to a four (4)
week vacation during each year of the Term; provided, however, that for each
year of the Term, McFarland is required to and shall take at least two (2) weeks
of said vacation (the "Mandatory Vacation"), which shall be taken consecutively.

                  2.       Automobile. During the Term hereunder, the Bank shall
provide McFarland, for McFarland's sole use, a suitable full-sized automobile,
the specific make and model of such automobile to be determined jointly by
McFarland and the Bank, which automobile shall be initially new and at no time
be older than three (3) years. The Bank shall pay all operating expenses of any
nature whatsoever with regard to such automobile, provided McFarland furnishes
to the Bank adequate records and other documentary evidence required by federal
and state statutes and regulations issued by the appropriate taxing authorities
for the substantiation of such payments as deductible business expenses of the
Bank and not as deductible compensation to McFarland.. The Bank shall also
procure and maintain in force an automobile liability insurance policy on such
automobile, containing all reasonable and necessary coverage.

                  3.       Group Medical and Life Insurance Benefits. The Bank
shall provide for McFarland, at Bank's expense, participation in the Bank's
existing Group medical and life insurance program at a level commensurate for an
employee of McFarland's salary level. Said coverage shall be in existence or
shall take effect as of the Effective Date hereof and shall continue throughout
the Term. The Bank's liability to McFarland for any breach of this Paragraph
shall be limited to the amount of premiums required hereunder to be payable by
the Bank to obtain or maintain, as applicable, the coverage contemplated herein.

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                  4.       Stock Options. The Bank has heretofore granted stock
options to purchase shares of the Bank's authorized but unissued Common Stock,
at an exercise price equal to market value on the date of grant, subject to
compliance with any applicable requirements of the Bank's Stock Option Permit
issued by the California Department of Financial Institutions. Additional
options may be granted from time to time at the sole and absolute discretion of
the Bank's Board of Directors.

                  5.       Deferred Compensation Plan. Bank agrees to use
reasonable best efforts to establish a Deferred Compensation Plan for the
benefit of McFarland prior to January 1, 2003; provided, that such Plan shall be
in the then current best interest of Bank and its shareholders, and, further
provided, that such Plan shall meet and not materially impair all then current
regulatory requirements, including capital ratio requirements.

                  6.       Other Benefits. McFarland shall be entitled to
participate in any other employee benefit plan offered by the Bank from time to
time for senior executive employees at McFarland's level, subject to the
eligibility and vesting requirements set forth in said employee benefit Plan.

         E.       REIMBURSEMENT FOR BUSINESS EXPENSES

                  McFarland shall be entitled to reimbursement by the Bank for
any ordinary and necessary business expenses incurred by McFarland in the
performance of McFarland's duties and in acting for the Bank during the Term,
which types of expenditures shall be determined by the Board of Directors,
provided that:

                           (a)      Each such expenditure is of a nature
qualifying it as a proper deduction on the federal and state income tax returns
of the Bank as a business expense and not as a deductible compensation to
McFarland; and

                           (b)      McFarland furnishes to the Bank adequate
records and other documentary evidence required by federal and state statutes
and regulations issued by the appropriate taxing authorities for the
substantiation of such expenditures as deductible business expenses of the Bank
and not as deductible compensation to McFarland.

         F.       TERMINATION

                  1.       Termination. Employment under this Agreement is "At
Will", subject only to reasonable notice. However, the Bank may terminate this
Agreement forthwith without prior notice at any time by action of the Board of
Directors if McFarland fails to perform or habitually neglects the duties which
he is required to perform hereunder, if McFarland engages in illegal activity
which materially adversely affects the Bank's reputation in the community or
which evidences the lack of McFarland's fitness or ability to perform
McFarland's duties as reasonably determined by the Board of Directors in good
faith, or if McFarland commits any act which would cause termination of coverage
under the Bank's Bankers' Blanket Bond as to McFarland (as distinguished from
termination of coverage as to the Bank as a whole). In the event the Bank
terminates this Agreement for cause as provided herein, McFarland shall not be

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eligible for any severance benefits otherwise contemplated by this Agreement.
Such termination shall not prejudice any remedy which the Bank may have at law,
in equity, or under this Agreement.

                  2.       Death or Disability. In the event of McFarland's
death, or if McFarland is found to be physically or mentally disabled (as
hereinafter defined) by the Board of Directors in good faith, this Agreement
shall terminate without any further liability or obligation by the Bank to
McFarland.

                  For purposes of this Agreement only, physical or mental
disability shall be defined as McFarland being unable to fully perform under
this Agreement for a continuous period of ninety (90) days or a cumulative
period of 120 days in any calendar year. If there should be a dispute between
the Bank and McFarland as to McFarland's physical or mental disability for
purposes of this Agreement, the question shall be settled by the opinion of an
impartial reputable physician or psychiatrist agreed upon by the parties or
their representatives, or if the parties cannot agree within ten (10) days after
a request for designation of such party, then by a physician or psychiatrist
designated by the San Diego County Medical Association. The certification of
such physician or psychiatrist as to the question in dispute shall be final and
binding upon the parties hereto.

                  3.       Action by Supervisory Authority. If the Bank is
closed by or taken over by the California Department of Financial Institutions
or other supervisory authority, including the Federal Deposit Insurance
Corporation, such bank supervisory authority may immediately terminate this
Agreement without further liability or obligation by the Bank to McFarland.

                  4.       Merger or Other Corporate Reorganization. In the
event of: (i) a merger where the Bank is not the surviving corporation, (ii) a
transfer of all or substantially all of the assets of the Bank or (iii) any
acquisition, consolidation, or other corporate reorganization where there is a
change in ownership of at least fifty-one percent (S 1%), except that may result
from a transfer of shares to another corporation in exchange for at least eighty
percent (80%) control of that corporation, and, in the event that this Agreement
and McFarland's employment are terminated (a) by McFarland within six (6) months
after such merger or reorganization, or (b) by the surviving entity for any
reason other than as defined in section F.1, F.2, or F.3 above, during the two
(2) year period immediately following the effective date of consummation of such
merger or other corporate reorganization and/or (c) McFarland's title, duties
and responsibilities are materially reduced by the surviving entity during two
(2) year period, McFarland shall be entitled to payment of a severance benefit
in an amount equal to fifty percent (50%) of his then current annual salary;
provided, however, that if, on the first business day immediately preceding the
effective time of such merger or other corporate reorganization, the Bank's
total assets equal $200 million or greater, then McFarland shall be entitled to
payment of a severance benefit in an amount equal to one hundred percent (100%)
of his then current annual salary.

                  5.       Effect of Termination. In the event of the
termination of this Agreement for any reason, McFarland shall be entitled to the
salary and bonus, if any, earned by McFarland prior to the date of termination
as provided for in this Agreement (except that McFarland shall not be entitled
to any bonus in the event his employment is terminated for cause as provided in

                                       4
<PAGE>

Paragraph F. l above), computed pro rata up to and including that date; but
McFarland shall be entitled to no further compensation for services rendered
after the date of termination, except as provided in Paragraph F.4 above
regarding merger or other corporation reorganization.

         G.       GENERAL PROVISIONS

                  1.       Trade Secrets. During the Term, McFarland will have
access to and become acquainted with what McFarland and Bank acknowledge are
trade secrets; to wit, knowledge or data concerning the Bank, including its
operations and methods of doing business, and the identity of customers of the
Bank, including knowledge of their financial condition and their financial
needs. McFarland shall not disclose any of the aforesaid trade secrets, directly
or indirectly, or use them in any way, either during the Term or for a period of
two (2) years after the termination of this Agreement, except as required in the
course of McFarland's employment with the Bank.

                  2.       Indemnification. To the extent permitted bylaw,
applicable statutes and the Bylaws or resolutions of the Bank in effect from
time to time, the Bank shall indemnify McFarland against liability or loss
arising out of McFarland's actual or asserted misfeasance or non-feasance in the
performance of McFarland' duties or out of any actual or asserted wrongful act
against, or by, the Bank, including but not limited to judgments, fines,
settlements, and expenses incurred in the defense of actions, proceedings, and
appeals therefrom. However, the Bank shall have no duty to indemnify McFarland
with respect to any claim, issue, or matter as to which McFarland has been
adjudged to be liable to the Bank in the performance of his duties, unless and
only to the extent that the court in which such action was brought shall
determine upon application that, in view of all of the circumstances of the
case, McFarland is fairly and reasonably entitled to indemnification for the
expenses which such court shall determine. The Bank shall endeavor to apply for
and obtain Directors and Officers Liability Insurance to indemnify and insure
the Bank and McFarland from and against the aforesaid liabilities. The
provisions of this Paragraph shall apply to the estate, executor, administrator,
heirs, legatees, or devisees of McFarland.

                  3.       Return of Documents. McFarland expressly agrees that
all manuals, documents, files, reports, studies, instruments, or other materials
used and/or developed by McFarland during the Term are solely the property of
the Bank, and that McFarland has no right, title, or interest therein. Upon
termination of this Agreement, McFarland or McFarland's representative shall
promptly deliver possession of all of said property to the Bank in good
condition.

                  4.       Notices. All notices, demands, or other
communications hereunder shall be in writing and shall be delivered in person
(professional courier acceptable); or by United States mail, certified or
registered, postage prepaid, with return receipt requested; or by facsimile
transmission; or otherwise actually delivered, to the addresses for the parties
appearing at the inception of this Agreement. The persons or addresses to which
mailings or deliveries shall be made may change from time to time by notice
given pursuant to the provisions of this Paragraph G.5. Any notice, demand, or
other communication given pursuant to this Agreement shall be deemed to have
been given on the date actually delivered, if delivered in person, three (3)
days

                                       5
<PAGE>

following the date mailed, if delivered by U.S. mail, or upon written
confirmation of transmission, if delivered by facsimile.

                  5.       Review by Counsel. McFarland represents and warrants
to the Bank that he has had this Agreement reviewed by independent legal counsel
of his choice, or if he has not, that he has had the opportunity to do so, and
hereby waives any claim, objection,- or defense on the grounds that this
Agreement has not been reviewed by legal counsel of his choice.

                  6.       California Law. This Agreement is to be governed by
and construed in accordance with the laws of the State of California.

                  7.       Captions and Paragraph Headings. Captions and
paragraph headings used herein are for convenience only and are not a part of
this Agreement and shall not be used in construing it.

                  8.       Invalid Provisions. Should any provision of this
Agreement for any reason by declared invalid, void, or unenforceable by a court
of competent jurisdiction, the validity and binding effect of any remaining
portion shall not be affected, and the remaining portions of this Agreement
shall remain in full force and effect as if this Agreement had been executed
with said provisions eliminated.

                  9.       Entire Agreement. This Agreement contains the entire
agreement of the parties. It supersedes any and all other agreements, either
oral or in writing, between the parties hereto with respect to the employment of
McFarland by the Bank. Each party to this Agreement acknowledges that no
representations, inducements, promises, or agreements, oral or otherwise, have
been made by any party, or anyone acting on behalf of any party, which are not
embodied herein, and that no other agreement, statement, or promise not
contained in this Agreement shall be valid or binding. This Agreement may not be
modified or amended by oral agreement, but only by an agreement in writing
signed by both the Bank and McFarland.

                  10.      Receipt of Agreement. Each of the parties hereto
acknowledge that he has read this Agreement in its entirety and does hereby
acknowledge receipt of a fully executed copy thereof. A fully executed copy
shall be an original for all purposes, and is a duplicate original.

                                       6
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.

                                     SOUTHWEST COMMUNITY BANK

                              By:    /s/ Frank J. Mercardante
                                     -------------------------------------------
                                     Frank J. Mercardante
                                     President and Chief Executive Officer

                                     McFARLAND

                                     /s/ Stuart F. McFarland
                                     -------------------------------------------
                                     STUART F. McFARLAND

                                       7

Exhibit 10.8

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