CommerceWest Bank Reports Double Digit Loan And Deposit Growth, Strong Earnings Growth Of 200% Year To Date

The Bank’s efficiency ratio for the three months ended September 30, 2012 was 56.01% compared to 86.72% in 2011, which represents a decrease of 35%. The Bank’s efficiency ratio for the nine months ended September 30, 2012 was 61.0% compared to 83.13% in 2011, which represents a decrease of 27%. The efficiency ratio illustrates, that for every dollar the Bank made for the three month period ending September 30, 2012, the Bank spent $0.56 to make it, as compared to $0.87 one year ago.

Capital ratios for the Bank remain well above the levels required for a “well capitalized” institution as designated by regulatory agencies. As of September 30, 2012, the leverage ratio was 12.69%, the tier 1 capital ratio was 19.51%, and the total risk-based capital ratio was 20.77%.

CommerceWest Bank is headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Offices in Orange County, Los Angeles County and San Diego County. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, full-service internet banking, lines of credit, term loans, commercial real estate lending, SBA lending, and full cash management.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes, financial policies of the United States government and general economic conditions. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained in this release to reflect future events or developments.

THIRD QUARTER REPORT - SEPTEMBER 30, 2012 (Unaudited)
BALANCE SHEET																		Increase
(dollars in thousands)				Sept 30, 2012							Sept 30, 2011							(Decrease)
ASSETS
Cash and due from banks				67,799							55,882							21	%
Securities				77,231							95,513							-19	%
Loans				181,892							137,582							32	%
Less allowance for loan losses				(3,147	)						(3,111	)						1	%
Loans, net				178,745							134,471							33	%
Bank premises and equipment, net				391							684							-43	%
Other assets				15,608							19,353							-19	%
Total assets				339,774							305,903							11	%
LIABILITIES AND STOCKHOLDERS' EQUITY
Non-interesting bearing deposits				106,171							68,707							55	%
Interest bearing deposits				182,333							185,770							-2	%
Total deposits				288,504							254,477							13	%
Total borrowings				-							500							-100	%
Other liabilities				2,600							5,937							-56	%
				291,104							260,914							12	%
Stockholders' equity				48,670							44,989							8	%
Total liabilities and stockholders' equity				339,774							305,903							11	%
CAPITAL RATIOS:
Tier 1 leverage ratio				12.69	%						13.08	%						-3	%
Tier 1 risk-based capital ratio				19.51	%						21.23	%						-8	%
Total risk-based capital ratio				20.77	%						22.49	%						-8	%

STATEMENT OF EARNINGS				Three Months Ended										Increase					Nine Months Ended										Increase
(dollars in thousands except share and per share data)				Sept 30, 2012					Sept 30, 2011					(Decrease)					Sept 30, 2012					Sept 30, 2011					(Decrease)
Interest income					3,148					3,109				1	%					9,264					9,611				-4	%
Interest expense					584					712				-18	%					1,787					2,167				-18	%
Net interest income					2,564					2,397				7	%					7,477					7,444				0	%
Provision for loan losses					275					-				-						470					160				194	%
Non-interest income					1,589					333				377	%					3,326					1,555				114	%
Non-interest expense					2,461					2,451				0	%					7,318					7,835				-7	%
Earnings before income taxes					1,417					279				408	%					3,015					1,004				200	%
Income taxes					-					-				0	%					-					-				0	%
Net earnings					1,417					279				408	%					3,015					1,004				200	%
Basic earnings per share				$	0.33				$	0.07				371	%				$	0.70				$	0.23				204	%
Diluted earnings per share				$	0.32				$	0.07				357	%				$	0.69				$	0.23				200	%
Return on Assets (annualized)					1.63	%				0.36	%			353	%					1.27	%				0.44	%			189	%
Return on Equity (annualized)					11.81	%				2.46	%			380	%					8.57	%				3.03	%			183	%
Efficiency Ratio					56.01	%				86.72	%			-35	%					61.00	%				83.13	%			-27	%
Net Interest Margin					3.44	%				3.53	%			-3	%					3.63	%				3.73	%			-3	%

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