News Releases
| CALIFORNIA COMMUNITY BANK REPORTS RECORD GROWTH California Community Bank (OTCBB: CABK) having celebrated its one-year anniversary on August 11, 2004, reported continuing strong asset growth for its fourth full quarter of operations. As of September 30, 2004, the Bank reported total assets of $45.3 million, up 17% from the $38.7 million reported at June 30, 2004, and more than double the $22.1 million reported at December 31, 2003. Key financial highlights at September 30, 2004 compared to December 31, 2003 were: Total assets increased to $45.3 million from $22.1 million -- 105% growth Total loans increased to $28.5 million from $10.2 million -- 180% growth Total deposits increased to $35.9 million from $11.6 million -- 208% growth Additionally, the Bank announced that it has received regulatory approval to open its second branch office in Vista, CA further expanding its market presence in San Diego’s North County and enabling it to better serve the local community. The new branch will be centrally located at 905 South Santa Fe Avenue, Vista, CA 92084 and is currently projected to open in December 2004. Larry D. Hartwig, CEO, commented, “We have made significant strides toward our goal of providing high quality banking relationships and products to small businesses and individuals within our targeted market area. I am very pleased with our team’s progress and our results. Looking back over the past twelve months, we put in place a solid foundation and have grown the Bank tremendously, carving out a firm niche in the business banking market place through a commitment to service excellence by each and every member of our team. Additionally, the formation earlier in the year of our Advisory Board, comprised of key business and community leaders, has provided us unique insights into the local market and has been extremely helpful in focusing our growth plans. With the opening of our Vista branch later this year, continued strong collective team efforts, and leveraging of our service technology, we will be able to better deliver our services and products to more of North County’s growing businesses, professionals, and households – and, in turn, continue building shareholder value in the process”. California Community Bank is headquartered at 1320 West Valley Parkway in Escondido, CA 92029. The Bank was founded by several veteran San Diego Bankers and a group of well-respected local business leaders. For more information on the Bank, please visit www.calcommunitybank.com or call 760-888-1000. The numbers in this press release are unaudited. Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank’s business, and the intent, belief or current expectations of the Bank, its directors or its officers, are “forward looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank’s performance, regulatory matters and those discussed in filings by the Bank with the Federal Deposit Insurance Corporation.
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