California Center Bank Reports Record High Third Quarter Earnings.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Nov. 1, 2000

California Center Bank (OTCBB:CLFC) today reported record third quarter 2000 net income of $2.2 million, a 57.1% increase from $1.4 million for the same quarter of 1999.

Net earnings per diluted common share rose 51.9% to $0.79 for the third quarter as compared with $0.52 for the same period of 1999. All per share results reflected the 13% stock dividend paid to shareholders on March 15, 2000.

Return on average assets ("ROA") and return on average stockholders' equity ("ROE") for the third quarter rose to 2.18% and 21.99%, respectively, compared to 1.84% and 17.48% for the same quarter of 1999. With the third quarter results, President Seon Hong Kim stated: "We are all very excited to continue to demonstrate the quality and very high profitability of our franchise. We continue to be among the best performing community banks in the country."

Result of Operations

During the third quarter of 2000, net interest income rose 41.0% to $5.5 million compared to $3.9 million for the same quarter last year. This increase was attributable mainly to strong loan demand and a higher yield of earning assets as a result of prime and fed funds rate increases. The Bank's net interest margin increased 48 basis points to 5.96% during the third quarter of 2000 from 5.48% for the same period of 1999.

During the third quarter of 2000, non-interest income principally from service charges and international banking service fees was $2.3 million or 20.75% of total revenues. The International Department, the leading provider of trade finance services in the community, earned $766,000 in the third quarter and continues to distinguish the Bank as having one of the highest levels of recurring non-interest income among community banks.

Non-interest expense rose only 6.2% in the third quarter compared to the same quarter last year mainly due to moderate increases in salary and business development expenses relating to growth in the business. As a result, the efficiency ratio improved to 52.4% in the third quarter compared to 60.4% for the same quarter of last year. The improvement reflects in part the Bank's continued "Smart Spending" expense management program that started in January 2000.

The Bank's net income for the 9 months ended September 30, 1999 was $6.2 million or an 82.4% increase from $3.4 million reported for the same period of last year. Return on average assets and return on average equity also increased significantly during this period over the same period last year to 2.2% from 1.56%, and to 21.81% from 14.41% respectively. The net interest margin also gained 68 basis points for the same periods to 5.98% from 5.30%.

Asset Growth

The Bank continued its impressive asset growth as a result of its strong presence in the community. The Bank's total assets as of September 30, 2000, stand at $416 million, a 17.7% increase from $353.6 as of December 31, 1999. For the same periods, Loans, net of unearned income and the allowance for losses, increased by $54.5 million or 23.6% to $285.1 million; total deposits grew $53.5 million or 17.2 percent to $364.2 million from $310.7 million; stockholder's equity increased by $5.2 million or 14.7 percent to $40.3 million. The excellent earnings performance for the year has made the growth in equity possible despite the number of shares already repurchased under the Bank's Stock Repurchase Program.

California Center Bank's average non-interest bearing deposits are still about 35 percent of its average total deposits, which is the highest level in its community. As part of the Bank's planned expansion, one new branch was opened in the month of September 2000 in the Inland Empire. The branch will principally serve residential and small-business customers in the vicinity. A loan production office in Seattle, Washington, was also opened primarily to serve the community's need for lending services to small businesses.

Assets Quality

Non-performing assets, (which include loans past due 90 days or more and still accruing interest, non-accrual loans, and other real estate owned), as a percentage of total loans plus other real estate owned decreased to 0.67 percent as of September 30, 2000 from 0.71 percent at year-end 1999. The bank's disposal of all other real estate owned also helped to lower the ratio. Although the absolute amount of non-accrual loans increased by $803,000, due mainly to a bigger loan portfolio, its relation to gross loans decreased to 0.39% as of September 30, 2000 from 0.48% as of December 31, 1999. The Bank provided $500,000 for loan loss reserves and recorded net charge-offs of $273,000 in the first nine months of 2000, ending the balance of the allowance for loan losses at $6.8 million compared with $6.6 million at year-end 1999. As of September 30, 2000, the allowance for loan losses was 2.32% of total gross loans, which was higher than its peers.

Capital Adequacy

As of September 30, 2000, the Bank's Total capital, Tier 1 capital and Tier 1 leverage capital ratios were 14.88 percent, 13.62 percent, and 10.10 percent, respectively. These capital levels place the Bank in the "well capitalized" category. As previously announced, the Bank has a plan to repurchase up to 10% of its common shares by May 2001. As of September 30, 2000, a total of 71,500 shares were repurchased at an average cost of $19.08 per share. The Bank's Stock Repurchase Program is subject to various applicable regulatory guidelines including those relating the amount of current year's retained earnings.

California Center Bank is a community bank located in Los Angeles, California. The Bank was founded in March 1986 and offers a full-range of financial services. It specializes in commercial and SBA loans and trade finance products for multi-ethnic and small business customers. The Bank now operates six branches throughout Southern California and two Loan Production Offices. The Bank's mission is to maximize its return to shareholders by remaining a strong, independent, highly profitable, and growth-oriented provider of financial services distinguishing itself through its multi-ethnic focus, trade finance services, and high-touch, customized, and timely service. Further details about the Bank can be found at our web site, www.calcenterbank.com.

The Bank wishes to take advantage of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995 as to "forward-looking" statements in this release that are not historical facts. The Bank's actual results may differ materially from those expressed in any forward-looking statement made in this release.

California Center Bank

CONDENSED STATEMENTS OF FINANCIAL CONDITION (Unaudited)
(In thousands, except share and per share data)

                                                   As of
                                   Sept. 30,   December 31,  Sept. 30,
                                     2000         1999         1999
Assets

Cash and due from banks              26,240       16,450       19,100
Federal funds sold                   16,900       24,000       30,000
Securities available-for-sale        34,364       32,847       33,406
Securities held-to-maturity          34,108       34,114       35,116
   Loans (Net of unearned income)   291,878      237,187      201,849
   Allowance for loan losses         (6,788)      (6,561)      (6,201)
Net loans                           285,090      230,626      195,648
Other real estate owned                   0          546          450
Fixed assets                          6,467        6,258        6,281
Other assets                         12,829        8,740        8,940
Total Assets                        415,998      353,581      328,941

Liabilities and
 Stockholders' Equity

   Non-interest bearing deposits    124,224      109,599      104,076
   Interest Bearing deposits        240,032      201,142      182,935
Total deposits                      364,256      310,741      287,011
Other liabilities                    11,425        7,704        8,321
Total Liabilities                   375,681      318,445      295,332
Stockholders' Equity                 40,317       35,136       33,609
Total Liabilities &
 stockholders' equity
                                    415,998      353,581      328,941

Book value per share (a)         $    15.29   $    13.01   $    12.45
Number of common shares
 outstanding at period end (a)    2,636,107    2,699,103    2,699,103

(a) adjusted to reflect stock dividends



CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)
(In thousands, except share and per share data)

                              Quarter Ended         Nine Months Ended
                                 Sept. 30              Sept. 30
                             2000       1999        2000        1999

  Interest income            8,661      5,733      23,511      15,680
  Interest expense           3,151      1,794       8,041       5,102
Net interest income          5,510      3,939      15,470      10,578
  Provision for
   loan losses                 100        150         500         654
  Net interest income
   after Provision for
   loan losses               5,410      3,789      14,970       9,924

Non interest income          2,254      2,401       6,630       6,235
  Salaries and
   employee benefits         2,522      2,236       7,050       6,302
  Occupancy and
   furniture and
   fixture expenses            381        369       1,076       1,067
  Other non interest
   expenses                  1,167      1,227       3,353       3,254
Non interest expenses        4,070      3,832      11,479      10,623
Income before
 income tax                  3,594      2,358      10,121       5,536
Income taxes                 1,392        918       3,876       2,088
Net income                   2,202      1,440       6,245       3,448
Other comprehensive
 income (b)                    202        (67)        195        (404)
Total comprehensive
 income                      2,404      1,373       6,440       3,044

Income per share,
 basic (c)                    0.82       0.53        2.32        1.28
Income per share,
 diluted (c)                  0.79       0.52        2.22        1.22
Basic average common
 shares Outstanding (c)  2,683,286  2,698,557   2,694,282   2,698,553
Diluted average
 common shares
 Outstanding (c)         2,799,653  2,762,477   2,813,681   2,830,827

(b) Comprehensive income represents the unrealized gains (losses)
on securities available for sale

(c) Adjusted to reflect stock dividends.



SELECTED FINANCIAL RATIOS (Unaudited)

                               Quarter Ended        Nine Months Ended
                                  Sept. 30               Sept. 30
                              2000       1999         2000      1999

Return on Average Assets      2.18%       1.84%      2.20%      1.56%
Return on Average Equity     21.99%      17.48%     21.81%     14.41%
Net interest margin           5.96%       5.48%      5.98%      5.30%
Efficiency ratio             52.42%      60.44%     51.94%     63.18%


SELECTED FINANCIAL INFORMATION (Unaudited)
(In thousands)

                       As of      9/30/00    12/31/99        Change
Loans
Commercial                        132,616     110,661           20%
Residential mortgage                5,453       3,741           46%
Commercial mortgage               131,053     105,370           24%
Real estate construction              413       3,604          -89%
Installment                        22,619      12,529           81%
Other                                 118       1,751          -93%
Total loans-Gross                 292,272     237,656           23%
Allowance or loan losses           (6,788)     (6,561)           3%
Unamortized deferred loan fees       (394)       (469)         -16%
Total loans - net                 285,090     230,626           24%

Deposits
Non-interest bearing              124,224     109,599           13%
Interest bearing checking          46,646      58,185          -20%
Savings                            21,688      21,570            1%
Time deposits                     171,698     121,387           41%
Total deposits                    364,256     310,741           17%

Non-performing assets
Loans past due 90 days or
 more and still accruing
 interest                             808           5
Non-accrual loans                   1,147       1,147
Total non-performing loans          1,955       1,152
Other real estate owned               --          546
Total non-performing assets         1,955       1,698

Allowance for Loan Losses
Balance as of January 1, 2000      $6,561
Provision for Loan Losses             500
Charge-offs (Net of Recoveries)      (273)
Balance as of September 30, 2000   $6,788

Selected Ratio
Non-accrual loans to gross loans     0.39%       0.48%
Non-performing assets
 to total loans and OREO             0.67%       0.71%
Allowance for loan losses
 to gross loans                      2.32%       2.76%
Allowance for loan losses
 to non-performing loans           347.21%      572.0%

Total risk-based capital ratio      14.88%      16.40%
Tier 1 risk-based capital ratio     13.62%      15.13%
Tier 1 capital ratio                10.10%      10.32%

For any question related to this report, please contact Seon Hong Kim, President & CEO at [phone] or Y.H. Kim, SVP & Controller at [phone].