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County Commerce Bank Reports Strong Earnings for Third Quarter 2008

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October 30, 2008

Award-winning County Commerce Bank, the only community bank headquartered in Ventura and dedicated to serving Ventura County reported continued growth during the third quarter of 2008. During the nine month period ending September 30, 2008, assets increased from $109,351,000 to $126,391,000; up $16,040,000 or 15.58%. Capital increased $969,000, from $11,042,000 to $12,011,000, an 8.78% increase in investor's equity during the same period. The bank's excellent liquidity position enabled it to continue investment in the local economy through loans to small and medium size businesses. The loan portfolio grew to $80,996,000; a $5,465,000 or 7.24% increase year to date. The loan portfolio was up $14,924,000, from $66,072,000 to $80,996,000 million or 22.59% over September 30, 2007. Most importantly, the bank's loan portfolio quality continues to be excellent; the bank has never had a non-performing loan or even a reportable 30-day past due in it's five year history. The bank has no sub-prime real estate loans or residential tract development loans. The bank's loan loss reserve remains strong at 1.3% of total disbursed loans.

The bank reported net income after taxes of $240,000 for the third quarter, equal to $.22 per share and a total of $741,000 for the first nine months of 2008. Net income was down only slightly by $79,000 or 9.63%, largely due to deposits made to the Loan Loss Reserve account as abundance of caution, and also as a result of the continued compression on net interest margin due to lower interest rates. The bank's return on equity remained strong at 6.71% for the first nine months of the year.

The announcement was made by Joseph D. Kreutz , President and Chief Executive Officer. Kreutz stated, “I am very pleased that the bank continues its solid performance. The bank's reputation is excellent and our customer base continues to grow as word spreads about the exceptional service enjoyed by our existing customers.” Kreutz added, “Measured against its peers, the bank continues to be the leader of its class. The recent increase in FDIC insurance to $250,000 on certificates of deposit and unlimited FDIC insurance on all checking and demand deposits provided additional security. County Commerce Bank also offers the CDARS program to our customers, expanding the FDIC insurance coverage up to $50,000,000.”

County Commerce Bank has received Super Premier Performing Bank and Premier Performing Bank by Findley Reports for the last four consecutive years, Western Regional Winner of the Small Business of the Year Award in 2006 by the US Chamber of Commerce and Mid Sized Business of the Year 2006 by the Ventura Chamber of Commerce, Public Company of the Year 2008 by the Pacific Coast Business Times and the Five-Star “Superior” rating by BauerFinancial Inc., for more than 12 consecutive quarters.

County Commerce Bank was founded by local professionals and business leaders in Ventura County . Headquartered in the City of Ventura at 3260 Telegraph Road (one block west of Mills), with a second branch in the Oxnard at 2400 East Gonzales Road, County Commerce Bank assists local professionals and small businesses, offering its customers a traditional banking experience along with Bill Pay and Internet Banking.

During the 12 month period ending June 30, 2008, capital increased $1,597,000 from $10,175,000 to $11,772,000; a 15.7% increase in investor’s equity. Assets climbed $15 million, from $104,570,000 to $119,576,000; a 14.34% increase. The bank extended an additional $15,722,000 in loans to local individuals and businesses during the same period, growing the bank’s portfolio by 24.4% from 64,478,000 to $80,200,000. The announcement was made by Joseph D. Kreutz, President and Chief Executive Officer. Kreutz stated, “I am pleased that the bank’s solid financial foundation affords the bank continued strong performance even during these difficult financial times.” Kreutz added, “The fact that we have never had a loan default, or even a loan payment 30-days past due since the bank started operations five years ago speaks to the quality of our loan portfolio resulting from our careful analysis and structuring of loan requests.”

In keeping with our corporate objective of enhancing shareholder value, our Board of Directors, based on the strength of the past several quarters’ results determined that it was appropriate to reward the shareholders with a stock dividend. The Board declared a five percent stock dividend, payable August 15, 2008 to shareholder of record July 31, 2008.

County Commerce Bank has received Super Premier Performing Bank and Premier Performing Bank status from Findley Reports for the last four consecutive years, Western Regional Winner of the Small Business of the Year Award in 2006 by the US Chamber of Commerce and Mid Sized Business of the Year 2006 by the Ventura Chamber of Commerce, Public Company of the Year 2008 by the Pacific Coast Business Times and the Five-Star “Superior” rating by BauerFinancial Inc., for more than 10 consecutive quarters.

County Commerce Bank was founded by local professionals and business leaders in Ventura County and opened for business in February, 2003. Headquartered in the City of Ventura at 3260 Telegraph Road (one block west of Mills), with a second branch in the Oxnard at 2400 East Gonzales Road, County Commerce Bank assists local professionals and small businesses, offering its customers a traditional banking experience along with Internet banking and Bill Pay.

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