Citizens Bancorp Announces 2nd Quarter Earnings.

NEVADA CITY, Calif. -- Citizens Bancorp (the "Company") (OTCBB:CZNB), the holding company of Citizens Bank of Northern California (the "Bank"), announced earnings for the second quarter 2006. Net income totaled $626,000 for the quarter ended June 30, 2006, an 18% increase compared to $530,000 for the same period in 2005. Basic and diluted earnings per share were $0.36 and $0.35, respectively, for the three month period ended June 30, 2006. This compares to basic and diluted earnings per share of $0.31 and $0.30 respectively for the same period in 2005.

For the six month period ended June 30, 2006, net income was $1,502,000, a 59% increase compared to $945,000 in the same period in 2005. Basic earnings per share were $0.88 for the six month period ended June 30, 2006, and diluted earnings per share were $0.85 for the same period. Basic and diluted earnings per share were $0.57 and $0.55, respectively, for the six month period ending June 30, 2005. Earnings per share have been adjusted to reflect the payment of a 5% stock dividend on June 14, 2006.

Total assets for the Company, as of June 30, 2006, were $266.4 million, an increase of $69.6 million from June 30, 2005, and an increase of $39.4 million from December 31, 2005. This represents a year-over-year growth rate of 35% and growth of 17% since December 31, 2005. Total loans for the Company, as of June 30, 2006, were $239.5 million, an increase of $60.5 million from June 30, 2005, and an increase of $32.8 million from December 31, 2005. This represents a year-over-year growth rate of 34%, and growth of 16% since December 31, 2005. Total deposits for the Company, as of June 30, 2006, were $225.5 million, an increase of $53.0 million from June 30, 2005, and an increase of $35.8 million from December 31, 2005. This represents a year-over-year growth rate of 31%, and growth of 19% since December 31, 2005.

In addition, the Company recently announced the issuance of $6 million in junior subordinated debentures, which helps to further leverage capital and support the Bank's continued growth. As of June 30, 2006 a total of $15 million in junior subordinated debentures had been issued by the Company.

"The Bank's growth continues to come from the Bank's lending activity and a loyal customer base that is committed to helping our local Bank thrive," said President/Chief Executive Officer, Judy Hess. She added, "We are pleased that honoring our Bank's mission statement to do what is right for our customers, our community and our employees is providing added value to our shareholders."

Founded in February 1995, Citizens Bank, headquartered in Nevada City, became a wholly owned subsidiary of the Company in 2003. The Bank has five branches in communities throughout Nevada County, including Nevada City, two branches in Grass Valley, and one branch in Penn Valley and Lake of the Pines. In addition, a branch in Truckee and one in Auburn are scheduled to open in September and November 2006, respectively. The opening of these two branches represents the Bank's first physical entry into neighboring Placer County. Hess stated, "The Bank has been serving customers in these communities for more than five years. Having physical locations in those areas will be more convenient for our existing customers and will provide us with facilities that will allow our growing customer base a full link to all of our products and services." She added, "The local leadership in both our Truckee and Auburn offices are already part of the local fabric that makes those two communities such a great natural expansion for our Bank." Today, the Bank offers community banking services, including a wide variety of deposit products, commercial, residential and consumer loans, and other traditional banking products and services, designed to meet the needs of small and middle market businesses and individuals.

This news release may include forward-looking statements about Citizens Bancorp's financial condition, results of operations, plans, objectives and future performance. A number of factors, many of which are beyond the control of Citizens Bancorp, could cause actual results to differ materially from those in the forward-looking statements. In addition, past results are not necessarily indicators of future performance.