Item 8.01 - Other Events.

On June 1, 2009, Temecula Valley Bancorp Inc., along with its wholly owned bank subsidiary, Temecula Valley Bank, announced that it had entered into a non-binding letter of intent ("LOI") with Bancroft Capital, LLC. Pursuant to the terms of the LOI, certain institutional investors, including Orient Property Group LLC, would consider, subject to the satisfaction of multiple conditions, including the completion of due diligence, entering into a definitive agreement that would call for an aggregate investment of up to $210 million. As discussed in the attached press release, on June 29, 2009, Bancroft Capital advised Temecula Valley Bancorp that it would not proceed toward the execution of a definitive agreement with Temecula Valley Bancorp or Temecula Valley Bank, principally because it was likely that the investors' internal rate of return objectives could not be realized for an extended period of time.