SOURCE: Columbia Commercial Bancorp

July 12, 2007 09:15 ET

Columbia Commercial Bancorp Reports Financial Results for Six Months Ending June 30, 2007

HILLSBORO, OR--(Marketwire - July 12, 2007) - Columbia Commercial Bancorp (OTCBB: CLBC), a single bank financial holding company for Columbia Community Bank, reported a net profit of $1,951,000 for the six-month period ending June 30, 2007. That figure is $469,000 more than the $1,482,000 reported during the same period in 2006. Earnings per fully diluted share increased to $1.25 from $0.96, an increase of 30.2% for the same period.

"Strong loan demand within the bank's business segment continues to drive earnings and asset growth. Sales in the Oregon real estate market have slowed, but prices remain stable and the quality of our loan portfolio remains very strong," said Rick A. Roby, president and CEO. "Net interest margin compression has been a steady trend for the past year, and continues as the Federal Reserve Board stays its inflation course, keeping the federal funds rate flat. Margins continue to be very good when compared to our national peer group."

Highlights: first half of 2007 versus the first half of 2006:

--  Total assets grew from $222.5 million to $311.1 million, an increase
    of 40%;
--  Gross loans grew from $184 million to $255.5 million, an increase of
    39%;
--  Total deposits increased from $161.6 million to $218.7 million, an
    increase of 35%;
--  Gross revenue increased from $8.683 million to $12.679 million, an
    increase of 46%;
--  Interest expense increased from $3.429 million to $5.879 million, an
    increase of 71%; and
--  Operating expenses (non interest) increased from $2.639 million to
    $3.172 million, an increase of 20%.
    

About Columbia Commercial Bancorp:

Information about the company's stock may be obtained through the Over the Counter Bulletin Board at www.otcbb.com. Columbia Commercial Bancorp's stock symbol is CLBC.

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 Tigard/Durham, Columbia Community Bank is dedicated to providing a superior and personalized business banking experience for its clients in and around Oregon. The bank was named among the "100 Best Companies to Work for in Oregon" by Oregon Business Magazine (2007) and has also been named by Portland Business Journal as one of the "Fastest-Growing Private 100 Companies in Oregon" for six years. 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.

                          Unaudited
                  Consolidated Balance Sheet
                            (000)

                                                              Period Ended
                        For Six Months Ending                    March 31,
                         6/30/2007  6/30/2006   Change  %Change    2007
                                               ----------------  ---------
ASSETS
  Cash & Balances due
   from Banks            $   4,837  $   4,004  $    833   20.80% $   3,909
  Investments               43,352     27,119  $ 16,233   59.86%    45,196
  Federal Funds Sold            29      2,586  $ (2,557) -98.88%         -

  Gross Loans              255,476    184,204  $ 71,272   38.69%   235,784
  Allowance for Loan
   Losses                   (2,710)    (2,067) $   (643)  31.11%    (2,509)
                         ---------  ---------                    ---------
     Net Loans             252,766    182,137  $ 70,629   38.78%   233,275

  Other Assets              10,085      6,703  $  3,382   50.46%    10,122
                         ---------  ---------

TOTAL ASSETS             $ 311,069  $ 222,549  $ 88,520   39.78% $ 292,502
                         =========  =========                    =========

LIABILITIES
  Total Deposits         $ 218,745  $ 161,634  $ 57,111   35.33% $ 192,069
  Federal Funds/
   Repurchases              16,124      9,078  $  7,046   77.62%    17,991
  FHLB Borrowings           45,500     27,700  $ 17,800   64.26%    51,500
  Other Liabilities          1,704        959  $    745   77.69%     2,401
     Term Debt               1,939
                         ---------  ---------                    ---------
  TOTAL LIABILITIES        284,012    199,371  $ 84,641   42.45%   263,961
                         ---------  ---------                    ---------

Trust Preferred
 Securities                  8,248      8,248  $      -    0.00%     8,248
Stockholders' Equity        18,809     14,930  $  3,879   25.98%    18,336

TOTAL DEBT CAPITAL
 + EQUITY                   27,057     23,178  $  3,879   16.74%    26,584
                         ---------  ---------                    ---------
TOTAL LIABILITIES AND
 STOCKHOLDERS' EQUITY    $ 311,069  $ 222,549  $ 88,520   39.78% $ 290,545
                         =========  =========                    =========


                          Unaudited
                Consolidated Income Statement
                            (000)

                               For the period                  Period Ended
                               ended June 30,                     March 31,
                               2007      2006    Change  %Change    2007
                             -----------------------------------   -------
INTEREST INCOME
  Interest and Fees-Loans    $ 11,297  $  7,922  $ 3,375   42.60%  $ 5,423
  Interest - Investments        1,191       479  $   712  148.64%      572
  Interest - Federal Funds         17       120  $  (103) -85.83%       11

                             --------  --------                    -------
TOTAL INTEREST INCOME          12,505     8,521  $ 3,984   46.76%    6,006
                             --------  --------                    -------

INTEREST EXPENSE
  Deposit Accounts              3,993     2,450  $ 1,543   62.98%    1,860
  Repurchase/ Fed Funds           401       184  $   217  117.93%      219
  FHLB Borrowing                1,091       500  $   591  118.20%      527
  Trust Preferred Securities      322       295  $    27    9.15%      160
  Other Capital Borrowing          72         -  $    72                36
                             --------  --------                    -------
TOTAL INTEREST EXPENSE          5,879     3,429  $ 2,450   71.45%    2,802
                             --------  --------                    -------

NET INTEREST INCOME             6,626     5,092  $ 1,534   30.13%    3,204

PROVISION FOR LOAN LOSSES        (350)     (230) $  (120)  52.17%     (150)
                             --------  --------                    -------

NET INCOME AFTER PROVISION      6,276     4,862  $ 1,414   29.08%    3,054
                             --------  --------                    -------

NON-INTEREST INCOME
  Total Non-Interest Income       174       162  $    12    7.41%       87
                             --------  --------
TOTAL NON-INTEREST INCOME         174       162  $    12    7.41%       87
                             --------  --------                    -------

NON-INTEREST EXPENSE
  Operating Expenses            3,172     2,639  $   533   20.20%    1,580
                             --------  --------                    -------

INCOME BEFORE PROVISION
 FOR INCOME TAXES               3,278     2,385  $   893   37.44%    1,561
Securities Gains and Losses      (123)        -  $  (123)                -

PROVISION FOR INCOME TAXES     (1,204)     (903) $  (301)  33.33%     (588)
                             --------  --------                    -------

NET INCOME                   $  1,951  $  1,482  $   469   31.65%  $   973
                             ========  ========                    =======

Earnings Per Share           $   1.32  $   1.01  $     0   30.69%  $  0.66

Earnings Per Share -
 Fully Diluted               $   1.25  $   0.96  $     0   30.21%  $  0.63


Year to Date ROAE               21.07%    20.42%
Year to Date ROAA                1.47%     1.45%
Year to Date Operating
 Efficiency Ratio               43.99%    46.71%

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