Commonwealth Business Bank Reports Second Consecutive Profitable Quarter.

LOS ANGELES -- Commonwealth Business Bank ("Commonwealth" or the "Bank,")(OTCBB:CWBB) announced its unaudited financial results for the second quarter ended June 30, 2006.

Financial Highlights        2nd Quarter 2006      1st Quarter 2006

--  Net income                    $126,526.62           $29,273.77
--  Basic earnings per share      $0.05                 $0.01
--  Diluted earnings per share    $0.05                 $0.01
--  Total assets                  $159.7 million        $148.2 million
--  Total gross loans             $106.3 million        $88.8 million
--  Total deposits                $137.2 million        $126.1 million
--  Book value per share          $9.10                 $9.00

Compared to the first quarter 2006, total assets, total net loans, and total deposits at June 30, 2006 increased 8%, 20%, and 9%, respectively. As of June 30, 2006 the Bank's allowance for loan losses was $1.3 million or 1.25% of total gross loans, and the Bank had no non-performing assets and no loans that were 30 days or more past due. The efficiency ratio continued to improve in the second quarter decreasing to 77%, compared to 91% for the first quarter of 2006.

The Bank experienced continued steady growth in the second quarter of 2006. Compared to year-end 2005, total assets, total net loans, and total deposits increased 23%, 33%, and 26%, respectively. For the first two quarters of 2006, commercial real estate loans accounted for 79% of total loan growth, while 20% of this growth was attributed to commercial loans. On the deposit side, core and non-core deposits grew by 53% and 47%, respectively. Net income year-to-date was $155,800 (June 30, 2006) and reflected $372,000 in gains on sale of SBA loans and $162,000 in compensation expense associated with stock options granted in 2006 and 2005. The year-to-date efficiency ratio was 83%, compared to year-to-date at December 31, 2005 of 157%. The Bank's capital ratios continued to exceed regulatory guidelines for "well-capitalized" institutions with Tier 1 leverage at 14.11%, Tier 1 risk-based capital at 17.77%, and Total risk-based capital at 18.89% as of June 30, 2006.

"I am pleased with the progress of the Bank in terms of loan growth, deposit growth, and profitability," commented Jack Choi, President and Chief Executive Officer. "Our planned controlled growth has continued to build providing a solid foundation for profitability. Our net income for the second quarter increased threefold compared to the first quarter of 2006. The Bank is now well positioned to concentrate on profitability by leveraging the stable growth in loans and deposits.

"The remodeling of our second branch, the Downtown Center, is well under way. The branch is expected to open next month. The establishment of this transaction-based branch, our first, should help to improve our bottom line. Transaction accounts will generate lower-cost core deposits and non-interest fee income. These activities can be translated into a higher net interest margin and an improved efficiency ratio. We are expecting competition in our new branch service area. However, we believe that with our new branch manager's broad experience and strong networking capability, our Downtown Center will have a dominant presence and we should be able to penetrate and seize significant market share.

"Going forward with the opening of our Downtown Center our focus will be threefold - to maintain the momentum of profitability from our Wilshire Center, to capitalize on the potential of the transactional accounts developed from the Downtown Center, and to merge the new branch into our existing compliance culture to preserve strong internal control."

Financial statements in the form of the Call Report filed with the FDIC are available for review or download directly from FDIC website at www.fdic.gov, or through link at the Bank's website at www.cwbbank.com.

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and factors such as: (1) the impact of changes in interest rates, (2) fluctuation in economic conditions, (3) competition in the Company's defined market, (4) the Company's ability to sustain its internal growth rate and to preserve its earning assets quality, and (5) government regulations. Although the Company believes the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct.