SOURCE: Columbia Commercial Bancorp

August 30, 2005 12:53 ET

Columbia Commercial Bancorp (CLBC) Second Quarter 2005 Earnings Increase 47.13%

HILLSBORO, OR -- (MARKET WIRE) -- August 30, 2005 -- Columbia Commercial Bancorp (OTC BB: CLBC), a single bank holding company for Columbia Community Bank, reported a net profit of $731,000 for the period ending June 30, 2005, which was 47.13% higher than the $497,000 earned during the same period in 2004 and 108% higher than the $351,000 earned in 2003.

As compared to the same period in 2004, net loans totals grew 43.8% from $93.6 million to $134.4 million, which fueled the significant growth in net income. Deposits grew to $105.8 million, an increase of 29.4% over the same period. Total Assets grew to $158.6 million, an increase of 31.3% over 2004.

Earnings per share were $1.01 and fully diluted per share earnings were $.97. The earnings per share calculation is inclusive of an equity stock transaction completed in January 2005.

Columbia Commercial Bancorp was formed in 2002 as a holding company for Columbia Community Bank, which was opened in 1999 by local business people to provide business loans and deposit products for Oregon businesses. With offices in Hillsboro, Forest Grove, Tanasbourne and Durham, Columbia Community Bank is dedicated to providing a superior and personalized business banking experience for its clients. The Bank has been named one of the 2005 "100 Best Companies to Work For in Oregon" by Oregon Business Magazine and also named by The Portland Business Journal, one of the 2005 "Fastest-Growing Private 100 Companies." For more information about Columbia Community Bank please call (503) 693-7500 or visit www.columbiacommunitybank.com.

Certain statements in this release may constitute forward-looking statements within the definition of the "safe-harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to significant uncertainties, which could cause actual results to differ materially from those set forth in such statements. Forward-looking statements can be identified by words such as "believe," "estimate," "anticipate," "expect," "intend," "will," "may," "should," or other similar phrases or words. Readers are cautioned not to place undue reliance on forward-looking statements. The Bank does not intend to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

314 E. Main St., Suite A, Hillsboro, OR 97123
(503) 693-7500
www.columbiacommunitybank.com

Contact Information

  • For More Information Contact:
    Rick Roby
    (503) 693-7500