Commercial Capital Bancorp Inc. Adds J. Chris Walsh to Executive Management Team.

Business Editors

IRVINE, Calif.--(BUSINESS WIRE)--Oct. 23, 2002

In its ongoing effort to provide high quality commercial and private banking services to businesses, income property real estate investors, high net worth individuals, families, and professionals, Commercial Capital Bancorp Inc. ("CCB" or the "Company") today announced that J. Chris Walsh has joined the Company as an executive vice president of CCB, and as executive vice president, Head of Relationship Banking for its banking subsidiary, Commercial Capital Bank, FSB (the "Bank").

Walsh, a 24-year Southern California banking veteran, will head the relationship-banking group from the Company's headquarters in Irvine.

Walsh started his career with Security Pacific National Bank prior to its merger with Bank of America (NYSE:BAC), and held senior management positions with Bank of California, U.S. Trust, and California Bank and Trust, and most recently, served as president of Sunwest Bank (OTC:SWST), always based in Orange County, Calif.

Stephen H. Gordon, chairman and CEO of CCB stated: "We're very excited to have Chris Walsh as a member of our executive management team. His experience and relationships in Orange County banking create a natural fit within our organization which consists of the fastest growing bank in Orange County and California's 4th largest multifamily lender."

Gordon added, "As the head of the bank's commercial, private and retail relationship banking efforts, while also a member of the bank's Executive and Asset/Liability Committees, we anticipate that Chris will have an immediate, positive impact on the strategic direction of the company."

CCB, with headquarters in Irvine, is a multifaceted financial services company with an initial core focus to provide financial services which meet the needs of its client base of middle market commercial businesses, income-property real estate investors, high net-worth individuals, families and professionals.

CCB became the holding company for the Bank and Financial Institutional Partners Mortgage Corp. ("FIPMC") at year-end 2000, beginning its consolidated operations in 2001. At Sept. 30, 2002, CCB had total assets of $753 million, and its subsidiary, Commercial Capital Bank, was the fastest growing bank in Orange County, based on percentage growth in total assets for the 12 and 24 months ended June 30, 2002 (source: www.fdic.gov).

The Bank has full service branches in Rancho Santa Margarita, Riverside, and at the Company's headquarters in Irvine. FIPMC, the 4th largest multifamily lender in California, has originated more than $1.7 billion in loans since its inception and has loan origination offices in Burlingame, Corte Madera (Marin County), Oakland, Woodland Hills, Los Angeles, Irvine and San Diego.

On July 1, 2002, the Company acquired ComCap Financial Services Inc., a registered broker dealer, which provides asset management services to corporations, high net worth individuals and other financial institutions.

This news release may include forward-looking statements (related to each company's plans, beliefs and goals), which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors: competitive pressure in the banking industry; changes in the interest rate environment; the health of the economy, either nationally or regionally; the deterioration of credit quality, which would cause an increase in the provision for possible loan and lease losses; changes in the regulatory environment; changes in business conditions, particularly in California real estate; volatility of rate sensitive deposits; asset/liability matching risks and liquidity risks; and changes in the securities markets. Commercial Capital Bancorp undertakes no obligation to revise or publicly release any revision to these forward-looking statements.