Commonwealth National Bank Reports Record Growth and Earnings; Solid core earnings support current and future plans for expansion.

WORCESTER, Mass. -- Commonwealth National Bank (Commonwealth) (OTCBB:CWEA) today announced its eighth consecutive quarter of profits. Assets reached $233 million for the period ending September 30, 2005. This represents an increase of 28% in twelve months. Total deposits now equal $181 million, an increase of 24% in twelve months. Earnings reached a record $1.9 million ($0.88 per share) for the three-month period ended September 30, 2005 fueled by continued growth in core earnings and a tax adjustment of $1.5 million ($0.73 per share) to reverse the previously established valuation allowance for deferred taxes. Earnings for the nine-month period ended September 30th total $2.2 million or $1.06 per share and pre-tax earnings for the same period equal $673,000 or $0.32 per share. The third quarter's pre-tax earnings of $309,000 or $0.15 per share are 44% over the prior quarter and approximately five times the level reported for the third quarter of 2004.

"The bank's third quarter pre-tax earnings of $309,000 represent continued growth of our core business resulting from increasing our market share through the development of a highly competitive suite of loan and deposit products," said Commonwealth President and CEO Charlie Valade. "The tax adjustment recognizes the bank has established significant core earnings within a relatively short period of time and has demonstrated the solid nature and sustainability of continued increasing profitability. Our favorable results are a testimony to our acceptance in the marketplace and our ability to build relationships with a base of satisfied customers."

Commonwealth expects to establish a holding company during the fourth quarter to increase its options in raising new capital and act as a platform for other lines of business or for acquisitions. According to Valade, "Plans are also underway for at least two additional branches in 2006, and we hope to continue that pace of expansion in subsequent years in order to serve our rapidly expanding customer base."

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. This release is intended for both print and web publications.

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.