Commonwealth National Bank Announces Asset Growth and Profitable 2004 Assets Reach $200 Million; Fifth Consecutive Quarter of Profits.

WORCESTER, Mass. -- Commonwealth National Bank (Commonwealth) (OTCBB:CWEA) announced another profitable quarter for the three months ended December 31, 2004. This latest milestone also marks a full calendar year of profitability for the three-year-old bank.

This was also the fifth consecutive quarter of profits for Commonwealth since turning profitable in late 2003. For the full year of 2004, the bank recorded profits of $286,000 compared to a net loss of $1,156,000 during 2003, a turnaround of $1.4 million. Other highlights include:

--Assets grew to $199.8 million at December 31, 2004; a 43% increase in one year and a 10% increase since September 30, 2004.

--Earnings per share increased to $0.14 for the full year and $0.06 for the quarter.

--Net income for the fourth quarter equaled $129,000; more than double that of the prior quarter.

--Loans grew by 40% during 2004 and equaled $149.7 million on December 31, 2004; up 7% in the fourth quarter.

--Total deposits reached $157.0 million at year-end, a 45% increase in one year, and an 8% growth since September 30, 2004.

These results continue the trend of increasing assets and quarterly profits for Commonwealth, which opened for business in December of 2001.

Commonwealth President and CEO Charles Valade said, "Our bank has made terrific progress in the past year, and we're very pleased with these levels of growth and profits. It shows we're delivering on a sound business plan to offer a community based banking option in Worcester County. People and businesses in the region are responding to a locally-based bank that meets their needs. We recently opened our first branch serving the Blackstone Valley in Northbridge and are on track to open two new branches in Worcester County during the next twelve months."

Valade added, "By providing quality service, great products, convenient locations, extended hours and local decision-making we're making a difference in banking in the region. Coupled with an experienced team of talented, customer-focused professionals and personalized community-oriented banking, we are setting ourselves apart from the competition. We believe our customers understand and appreciate the difference, and that's why we have been able to record the successful results that we are announcing today."

About Commonwealth National Bank

Commonwealth National Bank was the first new bank to open in the Worcester area in more than 15 years. Opened in December 2001, Commonwealth offers customers a traditional banking experience with high levels of personalized service, including extended business hours and internet-banking options. Commonwealth has branches in Worcester at 33 Waldo Street and 1 West Boylston Street, 564 Main Street, Shrewsbury and 701 Church Street in Northbridge.

For more information about Commonwealth National Bank, including detailed financial information, please visit:www.commonwealthworcester.com.

Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.