EXHIBIT 21.1

Subsidiaries of Placer Sierra Bancshares

Placer Sierra Bancshares has six direct subsidiaries:

1. Placer Sierra Bank, a California corporation.

2. Placer Statutory Trust II, a Connecticut statutory business trust.

3. Southland Statutory Trust I, a Connecticut statutory business trust.

4. First Financial Bancorp Statutory Trust I, a Connecticut statutory business trust.

5. Placer Statutory Trust III, a Delaware statutory business trust.

6. Southwest Community Statutory Trust I, a Connecticut statutory trust.

Placer Sierra Bank has five direct subsidiaries of its own, only one of which is active:

1. Central Square Company, Inc., a California corporation.

The other remaining subsidiaries are: PIB Mortgage Company, SCB Investment Company, SCB Financial Software, Inc. and FDS Liquidation Corporation.