First Mountain Bancorp Announces Fourth Quarter and Year End Results.

BIG BEAR LAKE, Calif. -- First Mountain Bancorp (OTCBB:FMBP) today reported quarterly consolidated net income of $436,300 or a basic earnings per share of $0.30 for the quarter ended December 31, 2006, compared to $397,395, or basic earnings per share of $0.28 for the comparable quarter of 2005. Bancorp also reported consolidated net income of $1,607,160 for the year ended December 31, 2006, or $1.12 basic earnings per share, compared to $1,441,934 or $1.03 basic earnings per share for 2005. This represents an increase in earnings of 11% for the comparable periods. Consolidated earnings are derived almost entirely from Bancorp's sole subsidiary, First Mountain Bank.

First Mountain Bancorp also reported total consolidated assets of $153,699,272 at December 31, 2006, compared to $151,400,151 at December 31, 2005. While total assets and deposits increased slightly over year-end 2005 levels, loan volume grew at a record pace. Gross loans outstanding totaled $115,651,843 at December 31, 2006 compared to $92,115,199 at December 31, 2005, an increase of $23,536,644, or 26%. Bancorp's consolidated equity capital continues to be well in excess of the regulatory guidelines for a "well capitalized" designation. Book value per share was $10.66 at December 31, 2006.

"We are very satisfied with the outstanding performance of First Mountain Bank in 2006 and are pleased to report the third straight year of record earnings," stated Jack Briner, President and CEO. "We achieved these results amid on-going legal costs, significant facilities upgrades, and a bank-wide system upgrade in 2006. We believe we are well positioned for 2007."

As previously reported, a criminal case brought by the government against four former employees of First Mountain Bank ended with all four pleading guilty to tax fraud. Sentencing is scheduled for January or February 2007. The civil case involving the Bank and the same former employees continues to be stayed pending the sentencing. With respect to the stayed lawsuit originally filed in federal court in Oregon, and subsequently transferred to Los Angeles, the Bank also expects limited activity until after the sentencing.

First Mountain Bancorp is the parent holding company of First Mountain Bank, which is headquartered in Big Bear Lake and has four offices serving the Big Bear and high desert areas of Southern California. For further information contact Jack Briner, President/CEO or Dennis Saunders, Senior Executive Vice President/COO/CFO at [phone].

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