Form 3 SWEENEY MARILYN J For: Jan 02 (10K)

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

SWEENEY MARILYN J

(Last)

(First)

(Middle)

1801 CENTURY PARK EAST

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/02/2009

3. Issuer Name and Ticker or Trading Symbol
FIRST REGIONAL BANCORP [FRGB]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	13,000	I	Held in Reporting Person's IRA
Common Stock	229,200	D ⁽¹⁾
Common Stock	21,003	I ⁽²⁾ ⁽³⁾	By Brandon John Trice Irrevocable Trust
Common Stock	21,003	I ⁽²⁾ ⁽³⁾	By Nicholas Akira Sweeney Irrevocable Trust
Common Stock	4,206	I ⁽²⁾ ⁽³⁾	By Jaclyn Yuki Sweeney Irrevocable Trust

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Excercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Excercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option	08/01/2009⁽⁴⁾	07/01/2018	Common Stock	10,000 ⁽⁴⁾	$ 7.5	D
Stock Option	01/01/2003⁽⁵⁾	01/31/2011	Common Stock	75,000 ⁽⁵⁾	$ 2.42	D

Explanation of Responses:
1. 19,200 of such shares held directly in the Reporting Person's name. 210,000 of such shares beneficially owned by Reporting Person with Jack A. Sweeney, the Reporting Person's husband, through Trust B of the Sweeney Family Trust U/I 11/13/98. Does not include shares held by Jack A. Sweeney as his sole and separate property.
2. The reporting person disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the Reporting Person is a beneficial owner of such shares for the purpose of Section 16 or for any oher purpose.
3. Shares beneficially owned by grandchld of Reporting Person's husband, Jack A.Sweeney. The Reporting Person is the Trustee of this trust.
4. The option was granted on July 31, 2008 and vests over seven years as follows: 1,400 option shares on August 1 of 2009, 2010, 2011, 2012, 2013 and 2014 and 1,600 option shares on August 1 of 2015.
5. The option was granted on March 26, 2001 under the Company's 1999 Stock Option Plan and became fully vested on January 1, 2009.
Remarks: (6)��The�Reporting�Person�rejoined�the�board�of�directors�of�the�issuer�on�January�2,�2009,�as�a�result�of�her�appointment�by�the�issuer's�board�to�fill�the�vacancy�created�by�the�resignation�of�Jack�A.�Sweeney.��The�Reporting�Person�had�served�as�a�director�of�the�issuer�from�February�8,�2001�through�May�17,�2005.��In�addition,�the�Reporting�Person�has�continued�to�serve�as�a�director�of�the�issuer's�subsidiary,�First�Regional�Bank,�from�February�8,�2001�through�the�present�date.��The�Reporting�Person�is�the�wife�of�Jack�A.�Sweeney,�the�issuer's�Founder�and�Chairman�Emeritus,�who�previously�served�as�Chairman�and�Chief�Executive�Officer�of�the�issuer.��Due�to�such�relationship,�the�Reporting�Person�was�not�deemed�independent�at�the�time�of�the�issuer's�2005�annual�meeting�of�shareholders�and,�in�order�to�ensure�the�independence�of�a�majority�of�the�issuer's�board�of�directors,�the�Reporting�Person�did�not�stand�for�reelection�as�a�director�of�the�issuer�at�that�time.��Power�of�attorney�filed�as�Exhibit�24�to�Reporting�Person's�Form�3,�filed�September�24,�2003.

	Steven J. Sweeney, attorney-in-fact for Marilyn J. Sweeney (6)	01/06/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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