First Commerce Bank Reports Profits.

Business Editors

ENCINO, Calif.--(BUSINESS WIRE)--Jan. 22, 2004

First Commerce Bank (OTCBB: FCBK) ("FCBK") today announced that net income on a consolidated basis for the year ended December 31, 2003 was $1,296,000. This compares with net income of $1,582,000 a year ago, a reduction of 18%. Included in 2003 net income is income tax expense of $886,000 as compared to an income tax benefit of $(459,000) in 2002. This benefit was the result of utilizing prior years' net operating losses to reduce tax expense in 2002. For the year ended December 31, 2003, the Bank reported pre-tax income of $2,182,000, up 94% from $1,123,000 for the same period last year.

Assets at December 31, 2003 were $175,000,000, up $41,000,000 or 31% as compared to December 31, 2002. Deposits and loans at December 31, 2003 were $162,000,000 and $132,000,000, up respectively 33% and 39% as compared to December 31, 2002.

Bank President and Chief Executive Officer, Jack Feldman, attributed the lower net income for the year ended December 31, 2003 as compared to December 31, 2002 to the transition from net income enhanced by the income tax benefit of $(459,000) recognized in 2002 as compared to recognizing income tax expense of $886,000 in 2003. Feldman also reported the Bank has issued $5,000,000 of Pooled Trust Preferred Securities, the proceeds of which were included as deposits at year end. The Bank plans to convert these proceeds to capital upon receipt of regulatory approval.

First Commerce Bank is an independent community business bank headquartered at 16861 Ventura Boulevard, Encino with a regional office in Brentwood, CA. The Bank's stock trades on the Over The Counter Bulletin Board (OTCBB) under the symbol FCBK.