1st Colonial Bancorp Reports Increases in Net Income, Assets, Deposits and Loans.

COLLINGSWOOD, N.J. -- Please replace the release (dated November 2, 2005) with the following corrected version due to revisions made in the tables listing results for the nine months ended September 30, 2005.

The corrected release reads:

1ST COLONIAL BANCORP REPORTS INCREASES IN NET INCOME, ASSETS, DEPOSITS AND LOANS

1st Colonial Bancorp, Inc. (OTC:FCOB), the holding company for 1st Colonial National Bank, today announced that for the nine months ended September 30, 2005, it had net income of $569,000, representing a $160,000 or 39.1% increase over the prior year. For the three months ended September 30, 2005, net income was $198,000 compared to $175,000 for the comparable period ended September 30, 2004, a 13.1% increase. It also reported that its total assets and loans had increased by 19.1% and 16.0% respectively since September 30, 2004.

Gerry Banmiller, the President and Chief Executive Officer of 1st Colonial, said, "We are continuing our steady growth that we have maintained since we opened our doors in June 2000. The first-class customer service provided by our hard working employees has helped to fuel this growth. Our reputation as a true "community bank" has allowed us to successfully expand our market into portions of Burlington and Gloucester Counties, New Jersey, in addition to our home base of Camden County. We opened our third full service office on September 6, 2005. This Burlington County office is located at 2802 Route 130 N., Cinnaminson, New Jersey."

At September 30, 2005, 1st Colonial reported $172.1 million in assets and $86.5 million in loans. These amounts reflect an increase of $27.6 million in assets and $11.9 million in loans from September 30, 2004. Deposits were $146.7 million, an increase of $26.1 million or 21.6% from September 30, 2004.

1st Colonial also reported a 16.7% increase in net interest income to $3.4 million for the nine months ended September 30, 2005 from $2.9 million for the comparable period ended September 30, 2004. For the three month period ended September 30, 2005, the Company reported a 9.1% increase in net interest income from the comparable period last year. Net interest income for the three month period was $1.2 million compared to $1.1 million for the three months ended September 30, 2004. According to Gerry Banmiller, "growth in our loan portfolio has resulted in substantial net interest income growth."

1st Colonial's 39.1% increase in net income for the nine months ended September 30, 2005 compared to the comparable period in 2004, enabled its diluted earnings per share to increase to $0.23 compared to $0.20 in the prior period. For the three months ended September 30, 2005, diluted earnings per share increased to $.08 from $.07 for the three months ended September 30, 2004. The earnings per share numbers for both periods have been adjusted to reflect the 5% stock dividend paid on April 15, 2005.

For the nine months ended September 30, 2005, other income increased approximately $80,000 or 38.5% compared to the comparable prior period. This was due primarily to increased account fees of $26,000, an increase in ATM fees of $12,000, the receipt $5,000 as a tentative settlement in a class action lawsuit of which the Bank participated as a member of the Pulse EFT network, income of $33,000 on Bank Owned Life Insurance ("BOLI"), offset by lower gains on loans sold of $9,000. The remaining increase was volume related. For the three month period ended September 30, 2005, the Company's reported a $53,000 or 77.9% increase in other income from the comparable period last year. During the third quarter 2005, the Bank purchased $4.0 million of BOLI on certain key employees. Income on these policies, which is recorded as other income and is exempt from federal income taxes, accounted for a majority of this increase.

For the nine months ended September 30, 2005, other expense increased approximately $420,000 or 18.5% from the comparable prior period. Most of these increases were growth related. Due to the opening of our Cinnaminson office, employee salaries and benefits increased $251,000. The Cinnaminson opening also contributed to an increase in occupancy and equipment expenses of approximately $55,000. Advertising expenses increased $61,000 for the nine months ended September 30, 2005 as compared to the nine months ended September 30, 2004. Professional fees increased $22,000 for the nine months ended September 30, 2005 compared to the comparable prior period. For the three months ended September 30, 2005, other expense increased approximately $199,000 or 25.5% as compared to the comparable period in 2004. As with the nine month comparison, most of these increases were related to growth and the opening of our new office. Employee related expenses increased $135,000, occupancy and equipment increased $17,000, and advertising increased $14,000. Data processing costs increased $17,000 and professional fees increased $8,000 for the three months ended September 30, 2005 compared to the linked quarter in 2004.

The Company announced that during the nine months ended September 30, 2005, certain warrants to purchase 30,919 shares were exercised resulting in $257,000 in additional capital. These warrants were issued in the 2002 unit offering. In addition, in June 2005, warrants that had been issued in its initial public offering in June 2000 were exercised, resulting in the Company's issuance of 63,592 shares and $579,000 in additional capital to the Company. The remaining year 2000 warrants representing 38,282 shares were not exercised and expired on June 29, 2005.

Highlights as of September 30, 2005 and September 30, 2004, and comparing the three and nine months ended September 30, 2005 to the three and nine months ended September 30, 2004, respectively (all unaudited), include the following (dollars in thousands, except per share data):

At         At
                         Sept. 30,  Sept. 30,  $ increase/ % increase/
                            2005       2004    (decrease)  (decrease)
                         ---------- ---------- ----------- -----------

Total assets              $172,079   $144,447     $27,632      19.1%

Total loans                 86,520     74,608      11,912      16.0%

Total deposits             146,711    120,653      26,058      21.6%

Shareholders' equity        18,546     17,262       1,284       7.4%



                                    For the three months ended
                             -----------------------------------------

                                                     $          %
                             Sept. 30, Sept. 30,  increase/  increase/
                                2005      2004   (decrease) (decrease)
                             --------- --------- ---------- ----------

Net interest income            $1,175    $1,077        $98      9.1%

Provision for loan losses          25        68        (43)   -63.2%

Other income                      121        68         53     77.9%

Other expense                     980       781        199     25.5%

Net income                        198       175         23     13.1%

Earnings per share, diluted     $0.08     $0.07      $0.01     14.3%



                                     For the nine months ended
                             -----------------------------------------

                                                     $          %
                             Sept. 30, Sept. 30,  increase/  increase/
                                2005      2004   (decrease) (decrease)
                             --------- --------- ---------- ----------

Net interest income            $3,432    $2,941       $491       16.7%

Provision for loan losses         130       193        (63)     -32.6%

Other income                      288       208         80       38.5%

Other expense                   2,695     2,275        420       18.5%

Net income                        569       409        160       39.1%

Earnings per share, diluted     $0.23     $0.20      $0.03       15.0%


                                       At and for the nine
                                           months ended
                                       --------------------
                                       Sept. 30, Sept. 30,
                                          2005      2004
                                       --------- ----------
Key financial ratios
Return on average assets (1)               0.50%      0.44%

Return on average equity (1)               4.26%      3.68%

Net interest margin                        3.26%      3.33%

Efficiency ratio (1) (2)                  72.45%     72.25%

Non-interest income/operating revenue      7.74%      6.61%

Non-performing assets/assets               0.02%      0.02%

Net charge offs/average loans (1)          0.00%      0.03%

Allowance for loan losses/loans            1.27%      1.27%

(1)Annualized

(2) Efficiency ratio is total other expense divided by the sum of net interest income and total other income.

This Release contains forward-looking statements that are not historical facts and include statements about management's strategies and expectations about our business. There are risks and uncertainties that may cause our actual results and performance to be materially different from results indicated by these forward-looking statements. Factors that might cause a difference include economic conditions; changes in interest rates, deposit flows, loan demand, and real estate values; competition; changes in accounting principles, policies or guidelines; changes in laws or regulation; new technology and other factors affecting our operations, pricing, products and services. More detailed information concerning our financial condition and results of operations can be found in our 2004 annual report on Form 10-KSB filed with the Securities and Exchange Commission. This report can be accessed over the Internet at www.sec.gov. More information on 1st Colonial can be found online at www.1stColonial.com or by telephoning our main branch at 856-858-1100.