Document:

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                                                                   Exhibit 10.20

                                                                  Execution Copy

                               FIRST AMENDMENT TO
                      AMENDED AND RESTATED CREDIT AGREEMENT
                          AND LIMITED WAIVER OF DEFAULT

         This FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT AND
LIMITED WAIVER OF DEFAULT ("Amendment"), dated as of June 19, 2001, is by and
among PLACER CAPITAL CO., a California corporation ("Placer"), CALIFORNIA
COMMUNITY BANCSHARES, INC., a Delaware corporation ("CCB") (Placer and CCB may
be referred to individually and without distinction as a "Borrower" and
collectively as the "Borrowers"), and U.S. BANK NATIONAL ASSOCIATION, a national
banking association (the "Bank").

                                    RECITALS

         WHEREAS, the Borrowers and the Bank entered into an Amended and
Restated Credit Agreement dated as of July 28, 2000 (the "Credit Agreement");
and

         WHEREAS, the Borrowers and the Bank desire to make certain amendments
to the Agreement;

         NOW, THEREFORE, in consideration of the premises and for good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, it is hereby agreed by and between Placer, CCB and the Bank as
follows:

         Section 1. CAPITALIZED TERMS. All capitalized terms used herein but not
otherwise defined herein shall have the meanings assigned to them in the Credit
Agreement, unless the context otherwise requires.

         Section 2. AMENDMENT TO CREDIT AGREEMENT. The Credit Agreement is
hereby amended to add a new Section 6.10(f) to read as follows:

                  (f) Indebtedness incurred pursuant to loans made by CCB to
         Placer for the purpose of paying the Obligations as they come due from
         time to time, PROVIDED THAT the term of each such loan shall not exceed
         three hundred and sixty-five (365) days.

         Section 3. CONDITIONS TO EFFECTIVENESS OF AMENDMENT. This Amendment and
waiver contained herein shall become effective upon delivery to the Bank of, and
compliance by the Borrowers with, each of the following:

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                  (a) The Bank shall have received this Amendment dated the date
         of the delivery thereof, and duly executed by the Borrowers.

                  (b) The Bank shall have received a copy of the resolutions of
         the Board of Directors of each of Placer and CCB authorizing the
         execution, delivery and performance of this Amendment and the other
         documents executed by the Borrowers in connection with this Amendment
         (collectively, the "Amendment Documents"), certified as true and
         accurate by its respective Secretary or Assistant Secretary, along with
         a certification by such Secretary or Assistant Secretary (i) certifying
         that there has been no amendment to the Articles of Incorporation or
         Bylaws of Placer and CCB, respectively, since the same were delivered
         to the Bank with a certificate of its respective Secretary dated July
         28, 2000; and (ii) identifying the officers executing the Amendment
         Documents and certifying as to their incumbency.

         Section 4. DEFAULTS AND WAIVERS.

                  (a) DEFAULTS AND EVENTS OF DEFAULT. Under Section 6.10 of the
         Credit Agreement, the Borrowers agreed not to incur, create, issue,
         assume or suffer to exist any Indebtedness with five enumerated
         exceptions. The Borrowers have advised the Bank that CCB has made
         certain short-term loans to Placer for the purpose of paying the
         Obligations as they become due. As a result, an Event of Default has
         occurred under Section 7.1(c) of the Credit Agreement.

                  (b) WAIVER. Upon the date on which this Amendment becomes
         effective, the Bank hereby waives the Borrowers' Defaults and Events of
         Default described in the preceding Section 4(a) (the "Existing
         Defaults"). The Borrowers agree that the waivers set forth in this
         Section 4(b) shall be limited to the precise meaning of the words as
         written herein and shall not be deemed (i) to be a consent to any
         waiver or modification of any other term or condition of the Credit
         Agreement or (ii) to prejudice any right or remedy that the Bank may
         now have or may in the future have under or in connection with the
         Credit Agreement with respect to other Defaults or Events of Default
         The Borrowers acknowledge and agree that the waiver set forth in this
         Section 4(b) is provided by the Bank as a financial accommodation to
         the Borrowers. Except as expressly set forth herein, the waiver
         described in this Section 4(b) shall not alter, affect, release or
         prejudice in any way any of the Borrowers' obligations under the Credit
         Agreement. The waivers set forth herein shall not constitute a waiver
         by the Bank of any other Default or Event of Default, if any, under the
         Credit Agreement, and shall not be, and shall not be deemed to be, a
         course of action with respect thereto upon which the Borrowers may rely
         in the future and the Borrowers hereby expressly waive any claim to
         such effect.

         Section 5. REPRESENTATIONS, WARRANTIES, AUTHORITY, NO ADVERSE CLAIM.

                  (a) REASSERTION OF REPRESENTATIONS AND WARRANTIES, NO DEFAULT.
         The Borrower hereby represents that on and as of the date hereof and
         after giving effect to this Amendment (a) all of the representations
         and warranties contained in Article IV of the Credit Agreement are
         true, correct and complete in all respects as of the date hereof as

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         though made on and as of such date, except for changes permitted by the
         terms of the Credit Agreement, and (b) there will exist no Default or
         Event of Default under the Credit Agreement as amended by this
         Amendment on such date which has not been waived.

                  (b) AUTHORITY, NO CONFLICT, NO CONSENT REQUIRED. The Borrower
         represents and warrants that it has the power and legal right and
         authority to enter into the Amendment Documents and has duly authorized
         as appropriate the execution and delivery of the Amendment Documents
         and other agreements and documents executed and delivered by the
         Borrower in connection herewith or therewith by proper corporate
         action, and none of the Amendment Documents nor the agreements
         contained herein or therein contravene or constitute a default under
         any agreement, instrument or indenture to which the Borrower is a party
         or a signatory or a provision of the Borrower's Organizational
         Documents or any other agreement or requirement of law, or result in
         the imposition of any Lien on any of its property under any agreement
         binding on or applicable to the Borrower or any of its property except,
         if any, in favor of the Bank. The Borrower represents and warrants that
         no consent, approval or authorization of or registration or declaration
         with any Person, including but not limited to any governmental
         authority, is required in connection with the execution and delivery by
         the Borrower of the Amendment Documents or other agreements and
         documents executed and delivered by the Borrower in connection
         therewith or the performance of obligations of the Borrower therein
         described, except for those which the Borrower has obtained or provided
         and as to which the Borrower has delivered certified copies of
         documents evidencing each such action to the Bank.

                  (c) NO ADVERSE CLAIM. The Borrower hereby warrants,
         acknowledges and agrees that no events have taken place and no
         circumstances exist at the date hereof which would give the Borrower a
         basis to assert a defense, offset or counterclaim to any claim of the
         Bank with respect to the Borrower's obligations under the Credit
         Agreement, as amended by this Amendment.

         Section 6. AFFIRMATION OF CREDIT AGREEMENT. The Bank and the Borrower
each acknowledge and affirm that the Credit Agreement, as hereby amended, is
hereby ratified and confirmed in all respects and all terms, conditions and
provisions of the Credit Agreement, except as amended by this Amendment, shall
remain unmodified and in full force and effect. All references in any document
or instrument to the Credit Agreement are hereby amended and shall refer to the
Credit Agreement as amended by this Amendment.

         Section 7. MERGER AND INTEGRATION, SUPERSEDING EFFECT. This Amendment,
from and after the date hereof, embodies the entire agreement and understanding
between the parties hereto and supersedes and has merged into this Amendment all
prior oral and written agreements on the same subjects by and between the
parties hereto with the effect that this Amendment shall control with respect to
the specific subjects hereof and thereof.

         Section 8. SEVERABILITY. Whenever possible, each provision of this
Amendment and the other Amendment Documents and any other statement, instrument
or transaction contemplated hereby or thereby or relating hereto or thereto
shall be interpreted in such manner as to be effective, valid and enforceable
under the applicable law of any jurisdiction, but, if any

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provision of this Amendment, the other Amendment Documents or any other
statement, instrument or transaction contemplated hereby or thereby or relating
hereto or thereto shall be held to be prohibited, invalid or unenforceable under
the applicable law, such provision shall be ineffective in such jurisdiction
only to the extent of such prohibition, invalidity or unenforceability, without
invalidating or rendering unenforceable the remainder of such provision or the
remaining provisions of this Amendment, the other Amendment Documents or any
other statement, instrument or transaction contemplated hereby or thereby or
relating hereto or thereto in such jurisdiction, or affecting the effectiveness,
validity or enforceability of such provision in any other jurisdiction.

         Section 9. SUCCESSORS. The Amendment Documents shall be binding upon
the Borrower and the Bank and their respective successors and assigns, and shall
inure to the benefit of the Borrower and the Bank and their respective
successors and assigns.

         Section 10. LEGAL EXPENSES. As provided in Section 8.2 of the Credit
Agreement, the Borrower agrees to reimburse the Bank, upon execution of this
Amendment, for all reasonable out-of-pocket expenses (including attorneys' fees
and legal expenses of Dorsey & Whitney LLP, counsel for the Bank) incurred in
connection with the Credit Agreement, including in connection with the
negotiation, preparation and execution of the Amendment Documents and all other
documents negotiated, prepared and executed in connection with the Amendment
Documents, and in enforcing the obligations of the Borrower under the Amendment
Documents, and to pay and save the Bank harmless from all liability for, any
stamp or other taxes which may be payable with respect to the execution or
delivery of the Amendment Documents, which obligations of the Borrower shall
survive any termination of the Credit Agreement.

         Section 11. HEADINGS. The headings of various sections of this
Amendment have been inserted for reference only and shall not be deemed to be a
part of this Amendment.

         Section 12. COUNTERPARTS. The Amendment Documents may be executed in
several counterparts as deemed necessary or convenient, each of which, when so
executed, shall be deemed an original, provided that all such counterparts shall
be regarded as one and the same document, and either party to the Amendment
Documents may execute any such agreement by executing a counterpart of such
agreement.

         Section 13. GOVERNING LAW. THE AMENDMENT DOCUMENTS SHALL BE GOVERNED BY
THE INTERNAL LAWS OF THE STATE OF MINNESOTA, WITHOUT GIVING EFFECT TO CONFLICT
OF LAW PRINCIPLES THEREOF, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO
NATIONAL BANKS, THEIR HOLDING COMPANIES AND THEIR AFFILIATES.

           [The remainder of this page is intentionally left blank.]

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         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date above written.

                                     PLACER CAPITAL CO.

                                     By: /s/ Anat Bird
                                         ------------------------------------
                                     Its:  President and Chief Executive Officer

                                     CALIFORNIA COMMUNITY BANCSHARES, INC.

                                     By:  /s/ David E. Hooston
                                         ------------------------------------
                                     Its:   Chief Financial Officer

                                     U.S. BANK NATIONAL ASSOCIATION

                                     By: /s/ Al Higham
                                         ------------------------------------
                                     Its: Vice President

                                       5<Page>

                                                                   Exhibit 10.21

                      CALIFORNIA COMMUNITY BANCSHARES, INC.

                         EXECUTIVE SURVIVOR BENEFIT PLAN

--------------------------------------------------------------------------------

         1. PURPOSE OF PLAN. This Survivor Benefit Plan (the "Plan") is
sponsored by California Community Bancshares, Inc., a Delaware corporation
("CCB") for the benefit of certain select executives of CCB, Bank of Orange
County, a California banking corporation, Placer Sierra Bank, a California
banking corporation and any other subsidiary of CCB which agrees to adopt and
participate in this Plan (the subsidiaries individually and collectively
referred to as the "Company"). Upon the death of an executive who participates
in the Plan, the Company shall pay a survivor benefit to the beneficiary(ies) of
the executive (the "Death Benefit").

         2. DEFINITIONS

                  (a) "BENEFICIARY" shall mean the person(s) designated pursuant
         to Plan Section 8 to receive the Death Benefit under this Plan.

                  (b) "DEATH BENEFIT" shall mean the benefit payable under the
         Plan to the Beneficiary pursuant to Plan Section 3.

                  (c) "FINAL SALARY" shall mean a Participant's annual salary
         payable by CCB and/or the Company which is the principal employer of
         the Participant at the time the Participant terminates employment for
         whatever reason. Final Salary shall not include the Participant's
         bonuses, overtime, stock options, incentive pay or any other
         compensation.

                  (d) "INSURANCE CONTRACTS" shall mean the insurance policy(ies)
         purchased from the Insurers by the Company on the life of a Participant
         in connection with this Plan, but excluding any officer who is a
         participant in the CCB Officers' Survivor Benefit Plan.

                  (e) "INSURERS" shall mean any insurance company selected by
         CCB or a Company to provide the Insurance Contracts. Initially, the
         insurers shall be Ohio National Life Assurance Corporation and New York
         Life Insurance & Annuity Corporation.

                  (f) "NET LIFE INSURANCE" shall mean the difference between the
         total amount of money payable under the Insurance Contracts on the life
         of the Participant at the time of the Participant's death and the cash
         surrender value of the Insurance Contracts on the life of the
         Participant at the time of the Participant's death.

                  (g) "PARTICIPANT" shall mean any executive of CCB or a Company
         designated in writing by the employer to participate in the Plan, but
         excluding any officer who is a participant in the CCB Officers'
         Survivor Benefit Plan.

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         3. DEATH BENEFIT. The Death Benefit shall be paid to the Beneficiary in
a lump sum by the Insurer as soon as administratively practicable following the
death of the Participant. The Death Benefit shall be equal to (i) three (3)
times the Participant's Final Salary, less (ii) Fifty Thousand Dollars ($50,000)
(or such lesser amount, if any) payable as a result of the Participant's death
under any group term life insurance program sponsored by CCB or a Company.
Notwithstanding the foregoing sentence, in no event will the Death Benefit
exceed the Net Life Insurance amount.

         4. TERMINATION OF PARTICIPATION IN THE PLAN. Each Participant's
participation in the Plan, and a Beneficiary's entitlement to a Death Benefit,
shall terminate on the earliest to occur of the following:

                  (a) The Participant's employment with CCB and/or the Companies
         is terminated for any reason;

                  (b) The death of the Participant, subject to and conditioned
         upon payment by the Insurer of the Death Benefit in accordance with
         Section 3 of this Plan;

                  (c) The bankruptcy of CCB and/or the Company which is the
         principal employer of the Participant; or

                  (d) The surrender, lapse or termination of the Insurance
         Contracts.

         5. PURCHASE OF LIFE INSURANCE AND ENDORSEMENT TO PARTICIPANT. The
Company shall purchase and maintain Insurance Contracts on the life of each
Participant to pay the Death Benefit, shall pay all premiums on the Insurance
Contracts when due, and shall be designated as sole owner of such Insurance
Contracts. The Company shall execute an endorsement to the Insurance Contracts,
substantially in the form attached hereto as EXHIBIT A (the "Endorsement
Agreement"), in order to secure the payment of the Death Benefit to the
Beneficiary. The Company has no obligation to retain the Insurance Contracts, to
pay premiums with respect to the Insurance Contracts, or to otherwise provide
for any minimum Death Benefit under Section 3.

         6. COMPANY'S INTEREST IN THE INSURANCE CONTRACTS.

                  (a) Subject to the right of the Participant to designate and
         change the Beneficiary in accordance with Plan Section 8, each and
         every right of ownership of the Insurance Contracts is reserved to the
         Company. The Company may exercise all ownership rights granted to the
         policyholder by the terms of the Insurance Contracts, including but not
         limited to the right to borrow against such Insurance Contracts, the
         right to assign its interest in the Insurance Contracts, the right to
         direct the investment of the cash value of the Insurance Contracts, the
         right to exercise settlement options and the right to surrender or
         cancel the Insurance Contracts.

                  (b) Following a Participant's death, the Company shall have
         the right, after the Death Benefit has been paid to the Beneficiary
         pursuant to Plan Section 3, to receive from the Insurers an amount
         equal to the remaining balance of the proceeds of the Insurance
         Contracts.

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         7. IMPUTED INCOME. Each year that a Participant participates in this
Plan, the Company shall report or cause to be reported to the Participant, as
taxable income, the imputed value of the life insurance coverage provided
through the Death Benefit. The amount of such imputed income shall be
determined, in accordance with rules of Internal Revenue Service ("IRS"), which
currently value such benefits as the lower of (i) the value of the current life
insurance protection under tables published by the IRS (or, if the IRS publishes
no table of values for such coverage, calculated in a manner consistent with the
tables published by the IRS and in accordance with applicable rules of the IRS,
which values currently are published in IRS Notice 2001-10 and previously were
referred to as "P.S. 58/38 rates"), or (ii) the Insurer's applicable one-year
term rates available to all standard risks.

         8. DESIGNATION OF BENEFICIARY. The Participant shall designate a
Beneficiary to receive the Death Benefit under the Plan by executing a
beneficiary designation form in writing, as provided by or acceptable to CCB,
the Company, or the Insurers. The Participant may change such Beneficiary
designation or add a secondary or contingent Beneficiary, provided such change
or designation is in writing (on a form provided by or acceptable to CCB, the
Company or the Insurers), and is received by them before the death of the
Participant. A Participant may irrevocably assign his or her rights to designate
and change the Beneficiary. In the absence of any Beneficiary designation, or
the failure of any designated Beneficiary to survive the Participant, the
Beneficiary shall be the Participant's estate.

         9. INSURER NOT A PARTY. The Insurers shall have no liability except as
set forth in Insurance Contracts. The Insurers shall not be bound to inquire
into or take notice of any of the provisions contained in this Plan as to the
Insurance Contracts, or as to the application of the proceeds of the Insurance
Contracts, except that each of the Insurers shall recognize the Endorsement
Agreement and the Participant's designation of his or her Beneficiary
thereunder. Upon the death of the Participant, the Insurers shall be discharged
from all liability, subject to and conditioned upon payment of the Death Benefit
in accordance with the Insurance Contracts and the Endorsement Agreement,
without regard to the Plan or any amendment hereto.

         10. AMENDMENT OR TERMINATION OF PLAN. This Plan may be amended or
terminated by CCB at any time in its sole discretion, and a Company may
terminate its participation in the Plan at any time in its sole discretion.

         11. NAMED FIDUCIARY. The Named Fiduciary for the Plan shall be CCB, and
shall be responsible for the control, management and administration of the Plan.
The Named Fiduciary may designate other individuals, corporations or entities,
who are not Named Fiduciaries, to carry out such Named Fiduciary's
responsibilities, obligations and duties, including the exercise of
discretionary authority under the Plan. Such allocations and delegations may be
revoked or modified at any time.

         12. LIMITATION ON LIABILITY. The Company does not guarantee benefits
payable under any Insurance Contract and any benefits thereunder shall be the
exclusive responsibility of the Insurers or other entity that is required to
provide such benefits under such Insurance Contract.

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         13. SUCCESSORS. This Plan shall be binding upon and shall inure to the
benefit of CCB, the Company and their respective successors, assigns, and legal
representatives.

         14. STATE LAW. This Plan shall be governed by and construed in
accordance with the laws of the State of California to the extent not preempted
by federal law.

         15. WITHHOLDING. The Company shall be authorized to, and authorized to
direct the Insurers to, withhold any federal or state employment and income
taxes payable with respect to any compensation paid to Participant or
Beneficiaries under the terms of this Plan.

                                       CALIFORNIA COMMUNITY BANCSHARES, INC.

June ____, 2001                        By:
                                           ------------------------------------
                                       Its:
                                           ------------------------------------

                                       PLACER SIERRA BANK

June ____, 2001                        By:
                                           ------------------------------------
                                       Its:
                                           ------------------------------------

                                       BANK OF ORANGE COUNTY

June ____, 2001                        By:
                                           ------------------------------------
                                       Its:
                                           ------------------------------------

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                      CALIFORNIA COMMUNITY BANCSHARES, INC.
                         EXECUTIVE SURVIVOR BENEFIT PLAN

                            APPENDIX : ERISA MATTERS

         Any claim by a Participant or Beneficiary ("Claimant") for benefits
under the Plan should be submitted to the Company.

                  (a) CLAIMS PROCEDURE: If the Company or its designate
         ("Employer") should deny a Claimant's claim for benefits under the
         Plan, the Claimant is entitled to receive, within 90 days after filing
         a claim, a written notice explaining the reasons for the denial, along
         with any references to pertinent provisions of the Plan, a description
         of any additional material or information necessary for the Claimant to
         complete the claim (if it was incomplete), and an explanation of the
         claim review procedure.

         If the denial notice is not satisfactory to the Claimant and/or the
         Claimant has additional information which should be considered, the
         Claimant may file with the Employer's Secretary a written appeal within
         60 days after receiving the first denial notice. During the time a
         Claimant's appeal is pending, the Claimant or the Claimant's authorized
         representative may review the pertinent documents for the Plan and may
         submit any written issues or comments to the Employer. A final and
         binding decision will be made by the Employer within 60 days of
         receiving a Claimant's appeal, provided the Employer may take up to 120
         days in special cases (the Claimant will be notified if a delay in
         processing the claim or appeal is expected).

                  (b) CLAIMANTS' LEGAL RIGHTS: Claimants are entitled to certain
         rights and protections under the Employee Retirement Income Security
         Act of 1974 (ERISA). ERISA provides that Claimants are entitled to:

                           (i) Examine, without charge, all Plan documents and
                  all documents and forms filed by the Plan with the U.S.
                  Department of Labor, such as detailed annual reports and Plan
                  descriptions.

                           (ii) Obtain copies of all Plan documents and other
                  Plan information upon written request to the Plan
                  Administrator. However, a reasonable charge may be imposed for
                  reproducing copies.

                           (iii) In addition to creating rights for Plan
                  Claimants, ERISA imposes duties upon the people who are
                  responsible for the Plan's operation. The people who operate
                  the Plan, called Plan "fiduciaries," have a duty to do so
                  prudently and in the interest of Claimants and beneficiaries.
                  No one may fire a Claimant or otherwise discriminate against a
                  Claimant in any way to prevent the Claimant from obtaining a
                  benefit or exercising the Claimant's rights under ERISA.

                           (iv) If a Claimant's claim for benefits is denied in
                  whole or in part, the Claimant must receive a written
                  explanation of the reason for the denial. The Claimant has the
                  right to have the Plan Administrator review and reconsider a
                  Claimant's claim. Under ERISA,

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                  there are steps a Claimant can take to enforce these rights.
                  For instance, if the Claimant requests materials about the
                  Plan and does not receive them within 30 days, the Claimant
                  may file suit in a federal court. If the Claimant does so, the
                  court may require the Plan Administrator to provide the
                  materials and pay the Claimant up to $110 a day until the
                  Claimant receives the materials, unless the materials were not
                  sent because of reasons beyond the Plan Administrator's
                  control.

                           (v) If a Claimant has a claim for benefits which is
                  denied or ignored, in whole or in part, the Claimant may file
                  suit in a state or federal court. If it should happen that
                  Plan fiduciaries misuse the Plan's money, or if a Claimant is
                  discriminated against for asserting his or her rights, he or
                  she may seek assistance from the U.S. Department of Labor, or
                  may file suit in a federal court. The court will decide who
                  should pay court costs and legal fees. If the Claimant is
                  successful, the court may order the person the Claimant has
                  sued to pay these costs and fees. If the Claimant loses, the
                  court may order the Claimant to pay these costs and fees, for
                  example, if it finds a Claimant's claim is frivolous.

                           (vi) If a Claimant has any questions about this Plan,
                  the Claimant should contact the Plan Administrator. If a
                  Claimant has any questions about this statement or about the
                  Claimant's rights under ERISA, the Claimant should contact the
                  nearest Area Office of the Pension and Welfare Benefits
                  Administration, Department of Labor.

         (c) OTHER PLAN INFORMATION

                  (i)      Sponsor's Name and Address: California Community
                           Bancshares, Inc., 1101 East Orangewood Avenue, Suite
                           100, Anaheim, CA 92806

                  (ii)     Plan Number: 50_

                  (iii)    Sponsor's Tax I.D. Number: ________________

                  (iv)     Plan Administrator: California Community Bancshares,
                           Inc.

                  (v)      Agents to Receive Process: Secretary, California
                           Community Bancshares, Inc.

                  (vi)     Type of Plan: The Plan is an employee welfare benefit
                           plan that is funded by insurance on the Participant's
                           life purchased by the Employer. Benefits under this
                           Plan are not insured by the Pension Benefit Guaranty
                           Corporation.

                  (vii)    Participating Employers: Bank of Orange County,
                           Placer Sierra Bank.

                                       6
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                                    EXHIBIT A

                              ENDORSEMENT AGREEMENT

         WHEREAS, the undersigned employer (the "Company") employs the
undersigned employee ("Employee") as its officer; and

         WHEREAS, the Company has promised to pay the designated beneficiary of
the Employee a death benefit in accordance with the terms of the California
Community Bancshares, Inc. Executive Survivor Benefit Plan (the "Plan");

         WHEREAS, the Company desires to provide for payment of such Plan
benefits through the purchase of one or more life insurance policies on the life
of the Employee from the undersigned insurance company (the "Insurer") and
through the endorsement to the Employee and his or her designated beneficiary of
a portion of the benefits payable under such life insurance policy(ies).

         NOW, THEREFORE, IT IS HEREBY AGREED

         1. The Company (hereinafter referred to as the "Owner") is the owner of
that certain life insurance policy(ies) issued by the Insurer on the life of the
Employee (hereinafter referred to as the "Insured") identified by the policy
number(s) on SCHEDULE A attached hereto (the "Policies"). The Owner does hereby
assign, transfer and set over to the Insured the right to name the beneficiary
for a portion of the death benefit, if any, payable under the Policies upon the
death of the Insured, in accordance with the terms of the Plan.

         B. This Endorsement is made so that the benefits, if any, payable to
the Insured's beneficiaries under the terms of the Plan shall be paid directly
by the Insurer. The Owner reserves all rights and powers in and to the Policies,
except the right of the Insured to name the beneficiary for a portion of the
death benefit, if any, payable under the Policies, in accordance with the terms
of the Plan. It is expressly agreed that the Insured's interest in the Policies
under and pursuant to this Agreement shall be limited to the right to have his
or her named beneficiary paid the amount, if any, due under the Plan upon the
death of the Insured.

         C. Subject to the provisions of this Agreement, the Owner shall retain
all of the rights, options, privileges and other incidents of ownership in and
to the Policies including, but not limited to: (a) the right to surrender in
whole or in part or cancel the Policies at any time; (b) the right to collect
and receive all distributions or shares of surplus, dividend deposits or
additions to the Policies now or hereafter made or apportioned thereto, and to
exercise any and all options contained in the Policies with respect thereto; (c)
the right to exercise all non-forfeiture rights permitted by the terms of the
Policies or allowed by the Insurer and to receive all benefits and advantages
derived therefrom; (d) the right to designate and change the beneficiaries of
the death benefit payable under the Policies to the extent the death benefits
exceed those payable to the Insured's beneficiary under the terms of the Plan;
(e) the right to elect any optional mode of settlement permitted by the Policies
or allowed by the

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Insurer; (f) the right to direct the investment of the cash value of the
Policies; and (g) the right to assign the Owner's interests in the Policies.

         D. The Insurer shall be indemnified and held harmless by the Owner if
it acts upon the written request by the Owner with respect to the exercise of
any rights of the Policies' owner, including but not limited to a request: (i)
to surrender or cancel the Policies (without the consent of the Insured), in
which event, upon such surrender or cancellation the Policies shall be
terminated and be of no further force or effect; or (ii) to pay the death
benefits upon the death of the Insured, in which event, upon such payment the
Policies shall me terminated and be of no further force or effect. The Insured
recognizes that the Insurer is under no duty to investigate (i) the
authorization of the Owner to direct the Insurer, (ii) the validity of or the
amount of any liability which the Owner represents it is owed under the Plan, or
(iii) a claim by the Owner that the Plan has terminated and or that the Insured
and the Insured's beneficiary are not owed any amount under the terms of the
Plan. The Insured authorizes the Insurer to comply with any written application
signed by the Owner.

         E. The Insurer shall be fully discharged from any and all liability
under the terms of the Policies upon payment or other performance of its
obligations in accordance with the terms of such Policies and this Agreement.

         F. This Agreement shall be construed under the laws of the State of
California.

         G. In the event of any conflict between the provisions of this
Agreement and the provisions of the Plan with respect to the Policies or the
Insured's rights therein, the provisions of this Agreement shall prevail with
respect to the Insurer's obligations under the Policies. The Insurer is not a
party to the Plan and shall not be responsible for the interpretation of the
Plan or for the sufficiency or validity of this Endorsement.

                                       8
<Page>

                                       EMPLOYEE

                                       By: _____________________________________

                                       Name (print):____________________________

June __, 2001

                                       [BANK OF ORANGE COUNTY OR
                                       PLACER SIERRA BANK]

                                       By: _____________________________________

                                       Its: ____________________________________

Dated:  June __, 2001

                                   ACCEPTANCE

         The foregoing Endorsement Agreement was accepted and recorded by:

                                       NEW YORK LIFE INSURANCE & ANNUITY
                                       CORPORATION

                                       By: _____________________________________

                                       Name (print):____________________________

                                       Its: ____________________________________

June __, 2001

                                       9

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