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Commercial Capital Bancorp, Inc. Announces Second Quarter Earnings of $0.34 Per Share on Net Income of $19.3 Million.

IRVINE, Calif. -- Commercial Capital Bancorp, Inc. (NASDAQ:CCBI):

--Company Increases Cash Dividend 7% to $0.075 Per Share

--Net Interest Margin Increases One Basis Point to 3.28% from First Quarter 2005

--Net Interest Margin, Excluding Purchase Accounting Adjustments, Increases 13 Basis Points to 3.17% from First Quarter 2005

--Deposits at Bank Subsidiary Increase 13% to $2.7 Billion from March 31, 2005

--Exchange Balances Increase 85% to $685.6 Million from March 31, 2005

Commercial Capital Bancorp, Inc. (the "Company") (NASDAQ:CCBI), the holding company for Commercial Capital Bank (the "Bank"), TIMCOR Exchange Corporation ("TIMCOR") and North American Exchange Company ("NAEC"), announced today net income of $19.3 million, or $0.34 per diluted share, for the second quarter of 2005, increases of 77% and 21%, respectively, from $10.9 million and $0.28 per diluted share, for the second quarter of 2004. The Company's net interest margin expanded one basis point to 3.28% for the second quarter of 2005, from 3.27% for the first quarter of 2005. Excluding the purchase accounting adjustments from the Hawthorne Financial Corporation ("Hawthorne") acquisition, the Company's net interest margin expanded 13 basis points to 3.17% for the second quarter of 2005, from 3.04% for the first quarter of 2005. Additionally, the Company announced today that it has increased its cash dividend 7% to $0.075 per share to be paid on August 30, 2005, to shareholders of record on August 16, 2005. The Company's net income for the six months ended June 30, 2005, totaled $42.4 million, or $0.74 per diluted share, increases of 135% and 48%, respectively, from $18.0 million and $0.50 per diluted share for the six months ended June 30, 2004. The Company's return on average equity ("ROAE") and return on average assets ("ROAA") for the second quarter of 2005 were 11.62% and 1.47%, respectively, compared to 17.66% and 1.57% for the second quarter of 2004, respectively. The Company's return on average tangible equity and return on average tangible assets for the second quarter of 2005 were 28.11% and 1.59%, respectively, compared to 32.58% and 1.63% for the second quarter of 2004, respectively. The Company's ROAE and ROAA for the six months ended June 30, 2005, were 12.99% and 1.62%, respectively, compared to 20.29% and 1.56% for the six months ended June 30, 2004, respectively. The Company's return on average tangible equity and return on average tangible assets were 31.26% and 1.75%, respectively, for the six months ended June 30, 2005, compared to 31.48% and 1.61% for the six months ended June 30, 2004, respectively. The Company's financial results include the effects of the acquisition of Hawthorne, which closed on June 4, 2004. The financial data for periods prior to February 17, 2005, do not include the impact of the TIMCOR acquisition. The financial data for periods prior to May 24, 2005, do not include the impact of the NAEC acquisition.

Stephen H. Gordon, Chairman and Chief Executive Officer, stated: "The Company's second quarter results reflect the impact of several key initiatives. During the quarter, the Company's yield on interest-earning assets was positively impacted by significant volumes of loans repricing to higher rates driven by market indices gapping upward, as well as by the sales of low-rate, single-family loans. The Company also experienced strong deposit growth at the Bank driven by business-related transaction account deposits, which included the impact of the Company's 1031 exchange accommodator acquisitions and resulted in a lower-cost, less-interest-rate-sensitive core deposit base. The acquisitions of TIMCOR and NAEC also provided the Company with strong noninterest fee income, which totaled $1.3 million for the quarter." Gordon added: "We enter the third quarter with a record loan origination pipeline and look forward to realizing further benefits of our captive exchange accommodator subsidiaries, as well as generating organic growth in corporate financial services-related core deposits, as our newly announced Commercial Banking Division gains traction."
($ in 000s, except per share data)

 Year Year
 Q2 Q1 Q2 to Date to Date
 2005 2005 2004 6/30/2005 6/30/2004

Net income $ 19,325 $ 23,087 $ 10,923 $ 42,411 $ 18,024
Basic EPS 0.35 0.42 0.30 0.77 0.54
Diluted EPS 0.34 0.40 0.28 0.74 0.50
Net interest
 income 38,925 38,334 22,875 77,259 36,677
Net interest
 margin 3.28% 3.27% 3.51% 3.28% 3.36%
Total revenues $ 71,576 $ 65,989 $ 36,591 $ 137,566 $ 60,039
ROAA 1.47% 1.78% 1.57% 1.62% 1.56%
ROAA -- Tangible 1.59 1.92 1.63 1.75 1.61
ROAE 11.62 14.41 17.66 12.99 20.29
ROAE -- Tangible 28.11 34.49 32.58 31.26 31.48
Efficiency ratio 33.32 30.07 25.34 31.76 25.53
Core Loan
 Fundings(1) $599,303 $595,129 $418,916 $1,194,432 $649,019
Total Loan
 Fundings(2) 624,715 607,824 466,690 1,232,539 726,062


Some of the Company's and Bank's second quarter 2005 highlights and achievements include:

--The Company's net interest margin increased one basis point to 3.28% for the second quarter of 2005, compared to 3.27% for the first quarter of 2005, and decreased 23 basis points compared to 3.51% for the second quarter of 2004. The Company's net interest margin, excluding the purchase accounting adjustments from the Hawthorne acquisition, increased 13 basis points to 3.17% for the second quarter of 2005, compared to 3.04% for the first quarter of 2005. The Company's net interest spread increased two basis points to 3.12% for the second quarter of 2005, compared to 3.10% for the first quarter of 2005, and decreased 29 basis points compared to 3.41% for the second quarter of 2004.

--The Bank's deposits increased 13% to $2.7 billion at June 30, 2005, from $2.4 billion at March 31, 2005. The Bank's transaction account deposits increased 22% to $1.6 billion at June 30, 2005, from $1.4 billion at March 31, 2005. On May 24, 2005, the Company completed its acquisition of NAEC, a leading facilitator of tax-deferred real estate exchanges pursuant to Section 1031 of the Internal Revenue Code of 1986. At June 30, 2005, the Company, through TIMCOR and NAEC, held $685.6 million of exchange balances, of which $659.3 million were on deposit at the Bank. For the second quarter of 2005, exchange balances averaged $539.2 million, an increase of 194% from the first quarter of 2005. Exchange balances held by TIMCOR and NAEC appear on the Company's consolidated balance sheet as a component of borrowings and are included as transaction account deposits on the subsidiary Bank's balance sheet.

--The Bank's total loans as a percentage of deposits declined to 150% at June 30, 2005, from 173% at March 31, 2005.

--The Company's total loan fundings, which includes loans originated and purchased, were $624.7 million during the second quarter of 2005, an increase of 3% and 34% from $607.8 million and $466.7 million for the first quarter of 2005 and second quarter of 2004, respectively. The Company's core loan fundings were $599.3 million during the second quarter of 2005, an increase of 1% and 43%, respectively, from $595.1 million and $418.9 million for the first quarter of 2005 and second quarter of 2004, respectively.

--The Company entered the third quarter of 2005 with a total loan pipeline of $542 million at June 30, 2005, an increase of 9% from $498 million at March 31, 2005. The Company entered the third quarter of 2005 with a core loan pipeline of $514 million at June 30, 2005, an increase of 8% from $476 million at March 31, 2005.

--In April 2005, the Company announced its plans to remix the composition of its loan portfolio and designated $612 million of lower-rate, single-family residential loans as held for sale. During the second quarter of 2005, the Company completed the sale of $386.1 million of single-family loans, which were either classified as held for sale at March 31, 2005, or funded during the quarter. At June 30, 2005, the Company's loans held for sale had declined to $304.7 million, which reflects these loan sales, as well as the loan fundings and payoff activity that occurred during the second quarter of 2005.

--The Company's multi-family loan portfolio grew during the second quarter of 2005 at an annualized rate of 27% to $2.8 billion at June 30, 2005, and now represents 74% of total loans held for investment. The Company's commercial real estate loan portfolio increased 18% to $518.1 million at June 30, 2005, from $440.1 million at March 31, 2005, and now represents 14% of total loans held for investment. The Company's loans held for investment grew during the second quarter of 2005 at an annualized rate of 22% to $3.8 billion at June 30, 2005.

--The Company's allowance for loan losses was 0.76% of net loans held for investment at June 30, 2005, compared to 0.80% at March 31, 2005, and 1.00% at June 30, 2004. Nonperforming assets totaled $12.1 million, or 0.23% of total assets, at June 30, 2005, compared to $6.5 million, or 0.12% of total assets, at March 31, 2005. At June 30, 2005, the allowance for loan losses totaled 237% of nonaccrual loans, compared to 444% and 701% at March 31, 2005, and June 30, 2004, respectively.

--The Company's total revenues, defined as interest income plus noninterest income, equaled $71.6 million for the second quarter of 2005, an increase of 8% and 96% from $66.0 million and $36.6 million for the first quarter of 2005 and second quarter of 2004, respectively. The increase from the first quarter of 2005 is attributable to increases in interest income on loans, gain on sale of loans, 1031 exchange fees and loan-related fees.

--At June 30, 2005, the Company had purchased a total of 1,796,100 shares of its common stock at an average price of $19.30 per share, of which 260,000 shares were purchased during the second quarter of 2005 at an average price of $16.00 per share.

RECENT DEVELOPMENTS

In July 2005, the Company announced the formation of the Commercial Banking Division within the Bank, which will focus on the business banking, treasury and cash management, and other depository products and services needs of financial services companies such as title and escrow companies, 1031 exchange accommodators, homeowners associations, property management companies, non-real estate escrows, and other fiduciary and corporate financial services companies. The Company simultaneously announced the hiring of James R. Daley, formerly of Comerica Bank, as Executive Vice President and Head of the Commercial Banking Division, and President of the Corporate Financial Services Group. Also in July 2005, the Company announced the hiring of Richard Grout, as Executive Vice President, Head of Retail Banking. Grout's recent experience includes a five-year span at Downey Savings, where he was responsible for Downey's retail banking network.

NET INTEREST INCOME

The Company's net interest income increased 70% and 111% to $38.9 million and $77.3 million for the second quarter and six months ended June 30, 2005, respectively, from $22.9 million and $36.7 million for the second quarter and six months ended June 30, 2004, respectively.

The Company's yield on interest-earning assets increased 15 basis points to 5.46% for the second quarter of 2005, compared to 5.31% for the first quarter of 2005, and increased 30 basis points compared to 5.16% for the second quarter of 2004. The Company's yield on total loans increased 15 basis points to 5.61% for the second quarter of 2005, compared to 5.46% for the first quarter of 2005, and increased 17 basis points compared to 5.44% for the second quarter of 2004. The Company's cost of interest-bearing liabilities increased 13 basis points to 2.34% for the second quarter of 2005, compared to 2.21% for the first quarter of 2005, and increased 59 basis points compared to 1.75% for the second quarter of 2004. The Company's cost of interest-bearing deposits increased 31 basis points to 2.28% for the second quarter of 2005, compared to 1.97% for the first quarter of 2005, and increased 64 basis points compared to 1.64% for the second quarter of 2004. The Company's cost of funds, including the effect of noninterest-bearing deposits, increased 11 basis points to 2.27% for the second quarter of 2005, compared to 2.16% for the first quarter of 2005, and increased 56 basis points compared to 1.71% for the second quarter of 2004.

NONINTEREST INCOME

Noninterest income increased 133% and 123% to $6.9 million and $10.6 million for the second quarter and six months ended June 30, 2005, respectively, from $3.0 million and $4.8 million for the second quarter and six months ended June 30, 2004, respectively. Loan fee income increased 55% and 86% to $1.5 million and $2.6 million for the second quarter and six months ended June 30, 2005, respectively, from $977,000 and $1.4 million for the second quarter and six months ended June 30, 2004, respectively. The increases in loan-related fees compared to the year-ago periods were driven by loan prepayment fees of $1.3 million and $2.1 million for the second quarter and six months ended June 30, 2005, respectively, compared to $906,000 and $1.3 million for the second quarter and six months ended June 30, 2004, respectively. Fee income from 1031 exchange transactions represented 20% of noninterest income for the second quarter of 2005 and totaled $1.3 million, an increase of 260% from $374,000 for the first quarter of 2005, when the Company acquired TIMCOR mid-quarter. During the second quarter of 2005, the Company began implementing the previously announced remix of the composition of its loan portfolio by selling $386.1 million of single-family residential loans, which resulted in gains on sale of loans of $2.8 million and $3.4 million for the second quarter and six months ended June 30, 2005, respectively, compared to $4,000 and $142,000 for the second quarter and six months ended June 30, 2004, respectively. The loan sales during the second quarter of 2005 included sales of both single-family residential loans funded during the quarter and those classified as held for sale at March 31, 2005.

NONINTEREST EXPENSES

The Company's general and administrative expenses totaled $15.3 million and $27.9 million for the second quarter and six months ended June 30, 2005, respectively, compared to $6.5 million and $10.6 million for the second quarter and six months ended June 30, 2004, respectively. The increases during the periods ended June 30, 2005, compared to the periods ended June 30, 2004, are primarily due to higher personnel and operational costs, including occupancy, marketing and insurance costs related to the additional operations from the acquisitions of Hawthorne, TIMCOR and NAEC, as well as the growth of the Company. The Company recorded $162,000 and $325,000 of amortization of the core deposit intangible for the second quarter and six months ended June 30, 2005, respectively, as a result of the acquisition of Hawthorne, compared to $58,000 in both the three and six month periods ended June 30, 2004.

The Company's efficiency ratio was 33.32% and 31.76% for the second quarter and six months ended June 30, 2005, respectively, compared to 25.34% and 25.53% for the second quarter and six months ended June 30, 2004, respectively. General and administrative expenses were 1.16% and 1.07% of total average assets for the second quarter and six months ended June 30, 2005, respectively, compared to 0.94% and 0.92% for the second quarter and six months ended June 30, 2004, respectively.

INCOME TAXES

The Company's effective tax rate was 36.42% and 37.42% for the second quarter and six months ended June 30, 2005, respectively, compared to 39.42% and 39.13% for the second quarter and six months ended June 30, 2004, respectively. The reduction of the Company's effective tax rate during the periods ended June 30, 2005, compared to the year-ago periods reflects the realization of larger amounts of low-income housing and other tax credits, and the origination of income property loans in enterprise zones that generate certain state tax benefits.

BALANCE SHEET AND CAPITAL

The Company had total consolidated assets of $5.2 billion at June 30, 2005, a decrease of 3% and an increase of 9% from $5.3 billion and $4.7 billion at March 31, 2005, and June 30, 2004, respectively. The decrease in the Company's assets during the quarter predominately resulted from a reduction in lower-yielding assets, such as cash and cash equivalents, mortgage-backed securities, and the execution of the previously announced sales of the Company's low-rate, single-family loans. Total loans, which include loans held for investment, net of allowances, and loans held for sale, totaled $4.0 billion, a decrease of 3% and an increase of 11% from $4.2 billion and $3.6 billion at March 31, 2005, and June 30, 2004, respectively. The decline in total loans during the second quarter of 2005 reflects the timing of the implementation of the Company's plan to remix its loan portfolio by selling a significant portion of its single-family residential loan portfolio and originations. It is the Company's intention to replace these lower-yielding assets predominantly with income property loans.

At June 30, 2005, multi-family loans held for investment totaled $2.8 billion, representing 74% of total loans held for investment, an increase of 7% and 36% from $2.6 billion at March 31, 2005, and $2.1 billion at June 30, 2004, respectively. At June 30, 2004, multi-family loans represented 56% of total loans held for investment. The Company's commercial real estate loan portfolio increased 18% to $518.1 million at June 30, 2005, from $440.1 million at March 31, 2005, and now represents 14% of total loans held for investment.

At June 30, 2005, 58% of the Company's total loan portfolio matures or is tied to an index that adjusts within one month, compared to 59% at March 31, 2005. In addition, 69% of the Company's total loan portfolio matures or has an interest rate scheduled to reset within six months from June 30, 2005, and 72% matures or resets within one year from June 30, 2005, compared to 70% and 73%, at March 31, 2005, respectively. The Company's total loan portfolio had a weighted average duration to maturity or reset of 11.8 months at June 30, 2005, compared to 11.3 months at March 31, 2005.

The Company's securities portfolio totaled $444.5 million at June 30, 2005, a decrease of 4% and 11% from $464.7 million and $499.8 million at March 31, 2005, and June 30, 2004, respectively. Mortgage-backed securities were 9% of total assets at June 30, 2005.

The Bank's deposits totaled $2.7 billion at June 30, 2005, an increase of 13% and 10% from $2.4 billion and $2.5 billion at March 31, 2005, and June 30, 2004, respectively. The Bank's transaction account deposits totaled $1.6 billion at June 30, 2005, an increase of 22% and 33% from $1.4 billion and $1.2 billion at March 31, 2005, and June 30, 2004, respectively. The exchange balances of TIMCOR and NAEC are classified as borrowings on the consolidated balance sheet, and included as transaction account deposits on the Bank's balance sheet. The Company's deposits totaled $2.0 billion at both June 30, 2005, and March 31, 2005, which is a decrease of 17% from $2.4 billion at June 30, 2004. The Company's transaction account deposits totaled $977.3 million at June 30, 2005, compared to $983.6 million and $1.2 billion at March 31, 2005, and June 30, 2004, respectively. The Company's time deposits totaled $1.06 billion at June 30, 2005, compared to $1.05 billion and $1.23 billion at March 31, 2005, and June 30, 2004, respectively.

Borrowings totaled $2.4 billion at June 30, 2005, a decrease of 7% and an increase of 44% from $2.6 billion and $1.7 billion at March 31, 2005, and June 30, 2004, respectively. FHLB advances totaled $1.5 billion at June 30, 2005, a decrease of 25% and 2% from $2.0 billion and $1.6 billion at March 31, 2005, and June 30, 2004, respectively. The decline in FHLB borrowings from March 31, 2005, reflects the growth in the Company's lower-cost exchange balances during the second quarter of 2005, including the acquisition of NAEC. At June 30, 2005, the Company's junior subordinated debt issued to its unconsolidated trust subsidiaries totaled $150.3 million, compared to $150.4 million at March 31, 2005, and $135.4 million at June 30, 2004.

Stockholders' equity totaled $668.5 million at June 30, 2005, an increase of 2% and 15% from $652.8 million and $582.8 million at March 31, 2005, and June 30, 2004, respectively. Tangible stockholders' equity totaled $268.8 million, a decrease from $269.3 million at March 31, 2005, and an increase of 23% from $219.1 million at June 30, 2004. The decline in the Company's tangible stockholders' equity includes the effect of the goodwill generated in the cash purchase of NAEC in May 2005. The Company's equity to assets and tangible equity to assets ratios were 12.90% and 5.19% at June 30, 2005, respectively, compared to 12.24% and 5.05% at March 31, 2005, respectively, and compared to 12.29% and 4.62% at June 30, 2004, respectively. The Company's tangible equity to tangible assets ratio was 5.62% at June 30, 2005, compared to 5.44% and 5.00% at March 31, 2005, and June 30, 2004, respectively.

Book value per share totaled $12.07 at June 30, 2005, an increase of 2% and 10% from $11.78 and $10.97 at March 31, 2005, and June 30, 2004, respectively. Tangible book value per share totaled $4.85 at June 30, 2005, compared to $4.86 and $4.13 at March 31, 2005, and June 30, 2004, respectively. The capital ratios of the Bank continued to exceed federal regulatory requirements for classification as a "well-capitalized" institution. The Bank's core, tier one risk-based and total risk-based capital ratios are estimated to be 8.70%, 12.01% and 12.84% at June 30, 2005, respectively.

LOAN FUNDINGS

The Company's total loan fundings, which includes loans originated and purchased, were $624.7 million during the second quarter of 2005, an increase of 3% and 34% from $607.8 million and $466.7 million for the first quarter of 2005 and second quarter of 2004, respectively. The Company's core loan fundings were $599.3 million during the second quarter of 2005, an increase of 1% and 43%, respectively, from $595.1 million and $418.9 million for the first quarter of 2005 and second quarter of 2004, respectively. The Company purchased $100.1 million of adjustable rate income property loans during the second quarter of 2005 as part of its strategy to remix the loan portfolio, replacing lower-rate, single-family loans that were sold during the quarter with higher-rate, adjustable, income-property loans. The Company's total loan fundings increased 70% to $1.2 billion during the six months ended June 30, 2005, from $726.1 million for the six months ended June 30, 2004. The Company's core loan fundings increased 84% to a record $1.2 billion during the six months ended June 30, 2005, from $649.0 million for the six months ended June 30, 2004.

The Company's core loan fundings for the three months ended June 30, 2005, consisted of $318.6 million of multi-family real estate loans, $112.3 million of commercial real estate loans, $122.7 million of single-family residential real estate loans, $41.4 million of construction and land loans, and $4.3 million of business and other loans. Of the Company's $599.3 million of core loan fundings during the second quarter of 2005, 97% were adjustable rate loans, of which 77% reprice within one year.

The value of loans in the Company's total loan pipeline increased 9% and 15% to a record $542 million at June 30, 2005, compared to $498 million and $470 million at March 31, 2005, and June 30, 2004, respectively. The value of loans in the Company's core loan pipeline increased 8% and 17% to a record $514 million at June 30, 2005, compared to $476 million and $439 million at March 31, 2005, and June 30, 2004, respectively.

PORTFOLIO ASSET QUALITY

Nonperforming assets totaled $12.1 million at June 30, 2005, an increase of $5.6 million from the $6.5 million balance at March 31, 2005. The increase in nonperforming assets is due to the addition of three construction/land loans during the second quarter of 2005. These three loans were originated by Hawthorne and acquired through the Company's acquisition of Hawthorne. The three loans are not considered impaired from a collateral-value perspective; however, they are considered impaired from a timeliness-of-repayment perspective.

The overall adequacy of the allowance for loan losses is reviewed by the Bank's Internal Asset Review Committee on a quarterly basis and submitted to the Board of Directors for approval. The Internal Asset Review Committee's responsibilities consist of risk management as well as problem loan management, which include ensuring proper risk grading of all loans and analysis of specific allocations for all classified loans.

The Company's review of its allowance for loan losses at June 30, 2005, indicated that a provision for loan losses for the second quarter of 2005 was not required and that the allowance for loan losses is adequate to cover potential losses inherent in the loan portfolio

At June 30, 2005, the Company had total assets of $5.2 billion, and the Bank had total deposits of $2.7 billion. The Bank operates banking offices located in Westlake Village (Ventura County), Tarzana, Malibu, Beverly Hills, Baldwin Hills, Westchester, Hawthorne, Manhattan Beach, Gardena, Hermosa Beach, Torrance, Redondo Beach (Los Angeles County), Orange, Irvine, Rancho Santa Margarita (Orange County), Riverside (Riverside County), La Jolla, Del Mar, San Diego (San Diego County), and San Mateo (San Mateo County), and lending offices, located in Corte Madera, San Mateo, Oakland, Encino, Glendale, Los Angeles, El Segundo, Irvine, Riverside, and La Jolla, Calif., with plans to open a banking office in the Crystal Cove Promenade in Newport Coast, Calif., in 2005. The Bank was the 2nd largest multi-family lender in California during the 12 months ended March 31, 2005 (source: Dataquick Information Systems). The Company is a leading Section 1031-exchange accommodator and facilitates exchange transactions nationwide through the TIMCOR and North American Exchange Company brand names through the companies' headquarters in Los Angeles and Walnut Creek, Calif., respectively, offices located in Long Beach and La Jolla, Calif.; Scottsdale, Ariz.; Houston, Texas; Chicago, Ill.; and Miami, Fla., and through a presence in Las Vegas, Nev.; Denver, Colo.; and Washington, DC.

CONFERENCE CALL AND WEBCAST INFORMATION

Analysts and investors may listen to a discussion of the second quarter of 2005 performance and participate in the question/answer session either by dialing the phone number listed below, or through viewing a live video webcast of the discussion accessed through a link on the home page of the Company's website at www.commercialcapital.com. The multimedia webcast enables participants to listen to the discussion and simultaneously view the video broadcast, tables, charts, an outline of the performance highlights, and submit questions for live response from the hosts. Windows Media player is required for viewing the video webcast. Interested parties can download the slide presentation from the Company's website prior to the start of the call. It is recommended that participants dial into the call, or log in to the webcast, approximately 5 to 10 minutes prior to the event.
Conference Call

Date: Monday, July 25, 2005
Time: 7:00 a.m. PDT (10:00 a.m. EDT)
Phone Number: 800-901-5213
International Dial-in Number: 617-786-2962
Access Code: 76493980

Webcast

Date: Monday, July 25, 2005
Time: 7:00 a.m. PDT (10:00 a.m. EDT)
Webcast URL: www.commercialcapital.com
 Windows Media player is required


Replay Information: for those who are unable to participate in the call or webcast live, an archive of the webcast will be available on the Company's website at www.commercialcapital.com beginning approximately 2 hours following the end of the call. To listen to the call replay, dial 888-286-8010 or, for international callers, dial 617-801-6888, the access code for either replay number is 49238754. The webcast archive and call replay will be available until September 5, 2005.

This press release and the aforementioned webcast may include forward-looking statements related to the Company's plans, beliefs and goals, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors: competitive pressure in the banking industry; changes in the interest rate environment; the health of the economy, either nationally or regionally; the deterioration of credit quality, which would cause an increase in the provision for possible loan and lease losses; changes in the regulatory environment; changes in business conditions, particularly in California real estate; volatility of rate sensitive deposits; asset/liability matching risks and liquidity risks; and changes in the securities markets. The Company undertakes no obligation to revise or publicly release any revision to these forward-looking statements.
(1) The Company defines core loan fundings to exclude those loans
 funded through its strategic alliance with Greystone Servicing
 Corporation, a Fannie Mae DUS lender, and the Company's other
 broker and conduit channels.

(2) The Company defines total loan fundings to include loans that
 are originated or purchased by the Company during the period.


COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in Thousands, except per share data)

 June 30, June 30,
 2005 2004
---------------------------------------------- ----------- -----------
 ASSETS
----------------------------------------------
 Cash and Cash Equivalents $33,812 $18,379
 Securities
 MBS - Available For Sale 444,456 499,746
 Other Investments - Available For Sale - 100
 ----------- -----------
 Total Securities 444,456 499,846
 FHLB Stock 98,943 85,543
 Loans Held for Investment
 Single Family 196,605 924,238
 Multi-family 2,807,503 2,065,938
 Commercial Real Estate 518,106 427,898
 Construction 190,302 216,926
 Land 43,946 51,637
 ----------- -----------
 Total Real Estate Loans 3,756,462 3,686,637
 Business and Other Loans 18,723 12,926
 ----------- -----------
 Total Loans Held for Investment 3,775,185 3,699,563
 Net Deferred Fees, Premiums and
 Discounts (1,815) (14,801)
 Allowance for Loan Losses (28,731) (36,831)
 ----------- -----------
 Total Loans Held for Investment, Net 3,744,639 3,647,931
 Loans Held for Sale 304,723 983
 ----------- -----------
 Total Loans 4,049,362 3,648,914
 Fixed Assets - Net 16,905 8,441
 Foreclosed Assets - -
 Accrued Interest Receivable 18,872 16,897
 Goodwill 394,080 357,367
 Core Deposit Intangible 5,576 6,308
 Bank-Owned Life Insurance 47,525 45,843
 Affordable Housing Investments 34,877 10,950
 Other Assets 35,593 45,362
---------------------------------------------- ----------- -----------
 TOTAL ASSETS $5,180,001 $4,743,850
============================================== =========== ===========

 LIABILITIES AND STOCKHOLDERS' EQUITY
----------------------------------------------
 Deposits
 Demand Deposits - Noninterest-Bearing $127,300 $92,627
 Demand Deposits - Interest-Bearing 74,941 88,922
 Money Market Checking 243,337 450,317
 Money Market Savings 313,158 386,836
 Savings 218,573 198,063
 ----------- -----------
 Total Transaction Deposits 977,309 1,216,765
 Retail Time Deposits 939,410 1,154,211
 Broker Time Deposits 115,895 72,961
 ----------- -----------
 Total Time Deposits 1,055,305 1,227,172
 ----------- -----------
 Total Deposits 2,032,614 2,443,937
 Borrowings
 FHLB Advances 1,521,028 1,550,770
 Exchange Balances 685,551 -
 Junior Subordinated Debentures 150,253 135,370
 Other Borrowings 65,000 -
 ----------- -----------
 Total Borrowings 2,421,832 1,686,140
 Other Liabilities 57,098 30,952
---------------------------------------------- ----------- -----------
 TOTAL LIABILITIES 4,511,544 4,161,029

 STOCKHOLDERS' EQUITY 668,457 582,821
---------------------------------------------- ----------- -----------
 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $5,180,001 $4,743,850
============================================== =========== ===========

Operating Data
Performance Ratios and Other Data: June 30, June 30,
 2005 2004
 ----------- -----------
Equity to assets at end of period 12.90% 12.29%
Tangible equity to assets at end of period 5.19 4.62
Tangible equity to tangible assets at end of
 period 5.62 5.00
Nonperforming assets $12,098 $5,255
Nonperforming assets to total assets 0.23% 0.11%
Allowance for loan losses to loans held for
 investment at end of period 0.76 1.00
Allowance for loan losses to nonaccrual loans 237 701
Per Share Data
Common shares outstanding at end of period 55,388,061 53,126,308
Book value per share $12.07 $10.97
Tangible book value per share 4.85 4.13


COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands, except per share data)

 THREE MONTHS ENDED
 June 30, 2005 June 30, 2004
--------------------------------------- --------------- --------------
Interest Income
 Loans $58,540 $26,647
 Securities 4,990 6,301
 FHLB Stock 1,086 662
 Fed Funds and Other 62 16
 --------------- --------------
 Total Interest Income 64,678 33,626
Interest Expense
 Deposits 10,861 4,815
 FHLB Advances 10,923 4,774
 Exchange Balances 1,147 -
 Junior Subordinated Debentures 2,307 986
 Other Borrowings 515 176
 --------------- --------------
 Total Interest Expense 25,753 10,751
 --------------- --------------
Net Interest Income 38,925 22,875
Recapture of Allowance for Loan Losses - -
 --------------- --------------
Net Interest Income after Recapture of
 Allowance for Loan Losses 38,925 22,875
Noninterest Income
 Loan Related Fees 1,519 977
 Retail Banking Fees 509 186
 Mortgage Banking Fees 108 194
 1031 Exchange Fees 1,347 -
 Gain on Sale of Loans 2,757 4
 Gain on Sale of Securities - 1,259
 Other Income 658 345
 --------------- --------------
 Total Noninterest Income 6,898 2,965

Noninterest Expenses
 Compensation and Benefits 7,258 3,452
 Non-Cash Stock Compensation 393 29
 Occupancy and Equipment 2,052 713
 Marketing 619 404
 Technology 646 214
 Professional and Consulting 671 205
 Insurance Premiums and Assessment
 Costs 574 316
 Merger-Related - 420
 Recapture of Reserve for Unfunded
 Commitments - -
 Other Expenses 3,055 794
 --------------- --------------
 Total G&A Expenses 15,268 6,547
 Early Extinguishment of Debt - 1,204
 Amortization of Core Deposit
 Intangible 162 58
 --------------- --------------
 Total Noninterest Expenses 15,430 7,809
 --------------- --------------
Income Before Taxes 30,393 18,031
Income Tax Expense 11,068 7,108
 --------------- --------------
Net Income $19,325 $10,923
 =============== ==============


Operating Data THREE MONTHS ENDED
Performance Ratios and Other Data: June 30, 2005 June 30, 2004
 --------------- --------------
Earnings per share - Basic $0.35 $0.30
Earnings per share - Diluted 0.34 0.28
Weighted average shares outstanding --
 Basic 55,186,788 36,729,282
Weighted average shares outstanding --
 Diluted 57,522,870 39,194,351
Return on average assets 1.47% 1.57%
Return on average tangible assets 1.59 1.63
Return on average stockholders' equity 11.62 17.66
Return on average tangible
 stockholders' equity 28.11 32.58
Interest rate spread 3.12 3.41
Net interest margin 3.28 3.51
Efficiency ratio 33.32 25.34
G&A to average assets 1.16 0.94
Effective tax rate 36.42 39.42
Core loan fundings $599,303 $418,916
Total loan fundings 624,715 466,690
Loans sold 386,144 341
Net Charge-offs (Recoveries) 12 (2)


COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands, except per share data)

 SIX MONTHS ENDED
 June 30, 2005 June 30, 2004
--------------------------------------- --------------- --------------
Interest Income
 Loans $114,445 $41,688
 Securities 10,209 12,471
 FHLB Stock 2,120 1,061
 Fed Funds and Other 145 36
 --------------- --------------
 Total Interest Income 126,919 55,256
Interest Expense
 Deposits 20,735 7,903
 FHLB Advances 22,067 8,669
 Exchange Balances 1,487 -
 Junior Subordinated Debentures 4,350 1,624
 Other Borrowings 1,021 383
 --------------- --------------
 Total Interest Expense 49,660 18,579
 --------------- --------------
Net Interest Income 77,259 36,677
Recapture of Allowance for Loan Losses (8,109) -
 --------------- --------------
Net Interest Income after Recapture of
 Allowance for Loan Losses 85,368 36,677
Noninterest Income
 Loan Related Fees 2,577 1,387
 Retail Banking Fees 1,041 213
 Mortgage Banking Fees 149 306
 1031 Exchange Fees 1,720 -
 Gain on Sale of Loans 3,401 142
 Gain on Sale of Securities - 2,152
 Other Income 1,759 583
 --------------- --------------
 Total Noninterest Income 10,647 4,783

Noninterest Expenses
 Compensation and Benefits 13,885 5,662
 Non-Cash Stock Compensation 634 58
 Occupancy and Equipment 4,212 1,074
 Marketing 1,273 683
 Technology 1,258 342
 Professional and Consulting 1,161 410
 Insurance Premiums and Assessment
 Costs 1,142 535
 Merger-Related - 420
 Recapture of Reserve for Unfunded
 Commitments (1,490) -
 Other Expenses 5,848 1,402
 --------------- --------------
 Total G&A Expenses 27,923 10,586
 Early Extinguishment of Debt - 1,204
 Amortization of Core Deposit
 Intangible 325 58
 --------------- --------------
 Total Noninterest Expenses 28,248 11,848
 --------------- --------------
Income Before Taxes 67,767 29,612
Income Tax Expense 25,356 11,588
 --------------- --------------
Net Income $42,411 $18,024
 =============== ==============


Operating Data SIX MONTHS ENDED
Performance Ratios and Other Data: June 30, 2005 June 30, 2004
 --------------- --------------
Earnings per share - Basic $0.77 $0.54
Earnings per share - Diluted 0.74 0.50
Weighted average shares outstanding --
 Basic 55,005,348 33,374,139
Weighted average shares outstanding --
 Diluted 57,401,347 35,704,940
Return on average assets 1.62% 1.56%
Return on average tangible assets 1.75 1.61
Return on average stockholders' equity 12.99 20.29
Return on average tangible
 stockholders' equity 31.26 31.48
Interest rate spread 3.10 3.26
Net interest margin 3.28 3.36
Efficiency ratio 31.76 25.53
G&A to average assets 1.07 0.92
Effective tax rate 37.42 39.13
Core loan fundings $1,194,432 $649,019
Total loan fundings 1,232,539 726,062
Loans sold 541,987 13,298
Net Charge-offs (Recoveries) (5) (4)


COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in Thousands, except per share data)

 June 30, Mar. 31, Dec. 31,
 2005 2005 2004
---------------------------------- ----------- ----------- -----------
 ASSETS
----------------------------------
 Cash and Cash Equivalents $33,812 $78,775 $16,961
 Securities
 MBS - Available For Sale 444,456 464,689 491,265
 Other Investments -
 Available For Sale - - -
 ----------- ----------- -----------
 Total Securities 444,456 464,689 491,265
 FHLB Stock 98,943 97,007 96,046
 Loans Held for Investment
 Single Family 196,605 209,480 841,818
 Multi-family 2,807,503 2,633,004 2,396,788
 Commercial Real Estate 518,106 440,088 420,015
 Construction 190,302 225,650 225,058
 Land 43,946 50,182 56,308
 ----------- ----------- -----------
 Total Real Estate Loans 3,756,462 3,558,404 3,939,987
 Business and Other Loans 18,723 19,364 16,360
 ----------- ----------- -----------
 Total Loans Held for
 Investment 3,775,185 3,577,768 3,956,347
 Net Deferred Fees, Premiums
 and Discounts (1,815) (4,798) (5,708)
 Allowance for Loan Losses (28,731) (28,743) (36,835)
 ----------- ----------- -----------
 Total Loans Held for
 Investment, Net 3,744,639 3,544,227 3,913,804
 Loans Held for Sale 304,723 612,549 976
 ----------- ----------- -----------
 Total Loans 4,049,362 4,156,776 3,914,780
 Fixed Assets - Net 16,905 16,419 10,318
 Foreclosed Assets - - -
 Accrued Interest Receivable 18,872 19,374 17,120
 Goodwill 394,080 377,726 357,367
 Core Deposit Intangible 5,576 5,739 5,902
 Bank-Owned Life Insurance 47,525 47,081 46,277
 Affordable Housing Investments 34,877 35,798 36,719
 Other Assets 35,593 33,961 31,169
---------------------------------- ----------- ----------- -----------
 TOTAL ASSETS $5,180,001 $5,333,345 $5,023,924
================================== =========== =========== ===========

 LIABILITIES AND STOCKHOLDERS'
 EQUITY
----------------------------------
 Deposits
 Demand Deposits -
 Noninterest-Bearing $127,300 $110,741 $97,931
 Demand Deposits - Interest-
 Bearing 74,941 78,611 78,003
 Money Market Checking 243,337 316,639 473,344
 Money Market Savings 313,158 195,875 245,306
 Savings 218,573 281,766 336,474
 ----------- ----------- -----------
 Total Transaction Deposits 977,309 983,632 1,231,058
 Retail Time Deposits 939,410 933,209 932,562
 Broker Time Deposits 115,895 115,199 93,161
 ----------- ----------- -----------
 Total Time Deposits 1,055,305 1,048,408 1,025,723
 ----------- ----------- -----------
 Total Deposits 2,032,614 2,032,040 2,256,781
 Borrowings
 FHLB Advances 1,521,028 2,015,338 1,856,349
 Exchange Balances 685,551 370,202 -
 Junior Subordinated Debentures 150,253 150,398 135,079
 Other Borrowings 65,000 61,000 101,000
 ----------- ----------- -----------
 Total Borrowings 2,421,832 2,596,938 2,092,428
 Other Liabilities 57,098 51,589 49,499
---------------------------------- ----------- ----------- -----------
 TOTAL LIABILITIES 4,511,544 4,680,567 4,398,708

 STOCKHOLDERS' EQUITY 668,457 652,778 625,216
---------------------------------- ----------- ----------- -----------
 TOTAL LIABILITIES AND
 STOCKHOLDERS' EQUITY $5,180,001 $5,333,345 $5,023,924
================================== =========== =========== ===========

Operating Data
Performance Ratios and Other Data: June 30, Mar. 31, Dec. 31,
 2005 2005 2004
 ----------- ----------- -----------
Equity to assets at end of period 12.90% 12.24% 12.44%
Tangible equity to assets at end
 of period 5.19 5.05 5.21
Tangible equity to tangible assets
 at end of period 5.62 5.44 5.62
Nonperforming assets $12,098 $6,475 $6,601
Nonperforming assets to total
 assets 0.23% 0.12% 0.13%
Allowance for loan losses to loans
 held for investment at end of
 period 0.76 0.80 0.93
Allowance for loan losses to
 nonaccrual loans 237 444 558
Per Share Data
Common shares outstanding at end
 of period 55,388,061 55,416,348 54,519,579
Book value per share $12.07 $11.78 $11.47
Tangible book value per share 4.85 4.86 4.80


 Sept. 30, 2004 June 30, 2004
--------------------------------------- --------------- --------------
 ASSETS
---------------------------------------
 Cash and Cash Equivalents $20,445 $18,379
 Securities
 MBS - Available For Sale 486,120 499,746
 Other Investments - Available
 For Sale 100 100
 --------------- --------------
 Total Securities 486,220 499,846
 FHLB Stock 86,147 85,543
 Loans Held for Investment
 Single Family 957,825 924,238
 Multi-family 2,235,427 2,065,938
 Commercial Real Estate 435,075 427,898
 Construction 213,656 216,926
 Land 55,786 51,637
 --------------- --------------
 Total Real Estate Loans 3,897,769 3,686,637
 Business and Other Loans 13,399 12,926
 --------------- --------------
 Total Loans Held for
 Investment 3,911,168 3,699,563
 Net Deferred Fees, Premiums and
 Discounts (11,740) (14,801)
 Allowance for Loan Losses (36,846) (36,831)
 --------------- --------------
 Total Loans Held for
 Investment, Net 3,862,582 3,647,931
 Loans Held for Sale 17,620 983
 --------------- --------------
 Total Loans 3,880,202 3,648,914
 Fixed Assets - Net 9,989 8,441
 Foreclosed Assets - -
 Accrued Interest Receivable 16,819 16,897
 Goodwill 357,367 357,367
 Core Deposit Intangible 6,105 6,308
 Bank-Owned Life Insurance 46,270 45,843
 Affordable Housing Investments 17,261 10,950
 Other Assets 39,951 45,362
--------------------------------------- --------------- --------------
 TOTAL ASSETS $4,966,776 $4,743,850
======================================= =============== ==============

 LIABILITIES AND STOCKHOLDERS' EQUITY
---------------------------------------
 Deposits
 Demand Deposits - Noninterest-
 Bearing $92,950 $92,627
 Demand Deposits - Interest-Bearing 80,267 88,922
 Money Market Checking 419,760 450,317
 Money Market Savings 298,165 386,836
 Savings 293,905 198,063
 --------------- --------------
 Total Transaction Deposits 1,185,047 1,216,765
 Retail Time Deposits 1,040,634 1,154,211
 Broker Time Deposits 72,961 72,961
 --------------- --------------
 Total Time Deposits 1,113,595 1,227,172
 --------------- --------------
 Total Deposits 2,298,642 2,443,937
 Borrowings
 FHLB Advances 1,831,798 1,550,770
 Exchange Balances - -
 Junior Subordinated Debentures 135,225 135,370
 Other Borrowings 57,000 -
 --------------- --------------
 Total Borrowings 2,024,023 1,686,140
 Other Liabilities 35,403 30,952
--------------------------------------- --------------- --------------
 TOTAL LIABILITIES 4,358,068 4,161,029

 STOCKHOLDERS' EQUITY 608,708 582,821
--------------------------------------- --------------- --------------
 TOTAL LIABILITIES AND STOCKHOLDERS'
 EQUITY $4,966,776 $4,743,850
======================================= =============== ==============

Operating Data
Performance Ratios and Other Data: Sept. 30, 2004 June 30, 2004
 --------------- --------------
Equity to assets at end of period 12.26% 12.29%
Tangible equity to assets at end of
 period 4.94 4.62
Tangible equity to tangible assets at
 end of period 5.33 5.00
Nonperforming assets $5,095 $5,255
Nonperforming assets to total assets 0.10% 0.11%
Allowance for loan losses to loans held
 for investment at end of period 0.94 1.00
Allowance for loan losses to nonaccrual
 loans 723 701
Per Share Data
Common shares outstanding at end of
 period 54,361,762 53,126,308
Book value per share $11.20 $10.97
Tangible book value per share 4.51 4.13


COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands, except per share data)

 THREE MONTHS ENDED
 June 30, Mar. 31, Dec. 31,
 2005 2005 2004
---------------------------------- ----------- ----------- -----------
Interest Income
 Loans $58,540 $55,905 $54,221
 Securities 4,990 5,219 5,285
 FHLB Stock 1,086 1,034 860
 Fed Funds and Other 62 83 27
 ----------- ----------- -----------
 Total Interest Income 64,678 62,241 60,393
Interest Expense
 Deposits 10,861 9,874 9,174
 FHLB Advances 10,923 11,145 10,717
 Exchange Balances 1,147 341 -
 Junior Subordinated Debentures 2,307 2,043 1,770
 Other Borrowings 515 504 264
 ----------- ----------- -----------
 Total Interest Expense 25,753 23,907 21,925
 ----------- ----------- -----------
Net Interest Income 38,925 38,334 38,468
Recapture of Allowance for Loan
 Losses - (8,109) -
 ----------- ----------- -----------
Net Interest Income after
 Recapture of Allowance for Loan
 Losses 38,925 46,443 38,468
Noninterest Income
 Loan Related Fees 1,519 1,058 1,591
 Retail Banking Fees 509 531 546
 Mortgage Banking Fees 108 40 122
 1031 Exchange Fees 1,347 374 -
 Gain on Sale of Loans 2,757 645 3,809
 Gain on Sale of Securities - - -
 Other Income 658 1,100 622
 ----------- ----------- -----------
 Total Noninterest Income 6,898 3,748 6,690

Noninterest Expenses
 Compensation and Benefits 7,258 6,627 6,120
 Non-Cash Stock Compensation 393 241 29
 Occupancy and Equipment 2,052 2,159 2,096
 Marketing 619 654 500
 Technology 646 612 538
 Professional and Consulting 671 490 438
 Insurance Premiums and
 Assessment Costs 574 568 579
 Merger-Related - - 282
 Recapture of Reserve for
 Unfunded Commitments - (1,490) (416)
 Other Expenses 3,055 2,793 2,539
 ----------- ----------- -----------
 Total G&A Expenses 15,268 12,654 12,705
 Early Extinguishment of Debt - - -
 Amortization of Core Deposit
 Intangible 162 163 203
 ----------- ----------- -----------
 Total Noninterest Expenses 15,430 12,817 12,908
 ----------- ----------- -----------
Income Before Taxes 30,393 37,374 32,250
Income Tax Expense 11,068 14,287 12,016
 ----------- ----------- -----------
Net Income $19,325 $23,087 $20,234
 =========== =========== ===========

Operating Data THREE MONTHS ENDED
Performance Ratios and Other Data: June 30, Mar. 31, Dec. 31,
 2005 2005 2004
 ----------- ----------- -----------
Earnings per share - Basic $0.35 $0.42 $0.37
Earnings per share - Diluted 0.34 0.40 0.36
Weighted average shares
 outstanding -- Basic 55,186,788 54,821,891 54,399,694
Weighted average shares
 outstanding -- Diluted 57,522,870 57,277,806 56,947,525
Return on average assets 1.47% 1.78% 1.61%
Return on average tangible assets 1.59 1.92 1.73
Return on average stockholders'
 equity 11.62 14.41 13.06
Return on average tangible
 stockholders' equity 28.11 34.49 31.55
Interest rate spread 3.12 3.10 3.26
Net interest margin 3.28 3.27 3.38
Efficiency ratio 33.32 30.07 28.13
G&A to average assets 1.16 0.98 1.01
Effective tax rate 36.42 38.23 37.26
Core loan fundings $599,303 $595,129 $495,730
Total loan fundings 624,715 607,824 540,783
Loans sold 386,144 155,843 166,257
Net Charge-offs (Recoveries) 12 (17) 11


 Sept. 30, 2004 June 30, 2004
--------------------------------------- --------------- --------------
Interest Income
 Loans $50,777 $26,647
 Securities 5,301 6,301
 FHLB Stock 891 662
 Fed Funds and Other 18 16
 --------------- --------------
 Total Interest Income 56,987 33,626
Interest Expense
 Deposits 9,060 4,815
 FHLB Advances 8,345 4,774
 Exchange Balances - -
 Junior Subordinated Debentures 1,611 986
 Other Borrowings 94 176
 --------------- --------------
 Total Interest Expense 19,110 10,751
 --------------- --------------
Net Interest Income 37,877 22,875
Recapture of Allowance for Loan Losses - -
 --------------- --------------
Net Interest Income after Recapture of
 Allowance for Loan Losses 37,877 22,875
Noninterest Income
 Loan Related Fees 2,217 977
 Retail Banking Fees 588 186
 Mortgage Banking Fees 137 194
 1031 Exchange Fees - -
 Gain on Sale of Loans 72 4
 Gain on Sale of Securities - 1,259
 Other Income 601 345
 --------------- --------------
 Total Noninterest Income 3,615 2,965

Noninterest Expenses
 Compensation and Benefits 6,148 3,452
 Non-Cash Stock Compensation 29 29
 Occupancy and Equipment 2,131 713
 Marketing 422 404
 Technology 496 214
 Professional and Consulting 369 205
 Insurance Premiums and Assessment
 Costs 582 316
 Merger-Related 494 420
 Recapture of Reserve for Unfunded
 Commitments - -
 Other Expenses 2,023 794
 --------------- --------------
 Total G&A Expenses 12,694 6,547
 Early Extinguishment of Debt - 1,204
 Amortization of Core Deposit
 Intangible 203 58
 --------------- --------------
 Total Noninterest Expenses 12,897 7,809
 --------------- --------------
Income Before Taxes 28,595 18,031
Income Tax Expense 10,591 7,108
 --------------- --------------
Net Income $18,004 $10,923
 =============== ==============

Operating Data
Performance Ratios and Other Data: Sept. 30, 2004 June 30, 2004
 --------------- --------------
Earnings per share - Basic $0.34 $0.30
Earnings per share - Diluted 0.32 0.28
Weighted average shares outstanding --
 Basic 53,625,568 36,729,282
Weighted average shares outstanding --
 Diluted 56,824,595 39,194,351
Return on average assets 1.50% 1.57%
Return on average tangible assets 1.62 1.63
Return on average stockholders' equity 12.02 17.66
Return on average tangible
 stockholders' equity 30.55 32.58
Interest rate spread 3.39 3.41
Net interest margin 3.49 3.51
Efficiency ratio 30.59 25.34
G&A to average assets 1.05 0.94
Effective tax rate 37.04 39.42
Core loan fundings $544,953 $418,916
Total loan fundings 583,184 466,690
Loans sold 2,554 341
Net Charge-offs (Recoveries) (15) (2)


COMMERCIAL CAPITAL BANCORP, INC.
Average Balances, Net Interest Income, Yields Earned and Rates Paid
(Dollars in Thousands)

 THREE MONTHS ENDED JUNE 30,
 --------------------------------
 2005
 --------------------------------
 Average Interest Average
 Balance Yield/Cost
 ----------- -------- -----------
Interest-Earning Assets:
Total Loans(1) $4,176,721 $58,540 5.61%
Securities(2) 456,677 4,990 4.37
FHLB Stock 98,289 1,086 4.42
Cash and Cash Equivalents(3) 9,233 62 2.69
 ----------- --------
Total Interest-Earning Assets 4,740,920 64,678 5.46
Noninterest-Earning Assets 522,387
 -----------
Total Assets $5,263,307
 ===========

Interest-Bearing Liabilities:
Deposits:
Transaction Accounts(4) $852,235 3,940 1.85
Certificates of Deposits 1,061,326 6,921 2.62
 ----------- --------
Total Deposits 1,913,561 10,861 2.28
FHLB Advances 1,745,778 10,923 2.51
Exchange Balances 539,222 1,147 0.85
Junior Subordinated Debentures 150,348 2,307 6.15
Other Borrowings(5) 69,190 515 2.99
 ----------- --------
Total Interest-Bearing Liabilities 4,418,099 25,753 2.34
 --------
Noninterest-Bearing Deposits 127,561
Other Noninterest-Bearing Liabilities 52,575
 -----------
Total Liabilities 4,598,235
Stockholders' Equity 665,072
 -----------
Total Liabilities and Stockholders'
 Equity $5,263,307
 ===========
Net Interest-Earning Assets $322,821
 ===========
Net Interest Income/Interest Rate
 Spread $38,925 3.12%
 ======== ===========
Net Interest Margin 3.28%
 ===========


 2004
 --------------------------------
 Average Interest Average
 Balance Yield/Cost
 ----------- -------- -----------
Interest-Earning Assets:
Total Loans(1) $1,958,375 $26,647 5.44%
Securities(2) 581,891 6,301 4.33
FHLB Stock 59,173 662 4.48
Cash and Cash Equivalents(3) 4,985 16 1.28
 ----------- --------
Total Interest-Earning Assets 2,604,424 33,626 5.16
Noninterest-Earning Assets 187,088
 -----------
Total Assets $2,791,512
 ===========

Interest-Bearing Liabilities:
Deposits:
Transaction Accounts(4) $641,765 2,767 1.73
Certificates of Deposits 537,589 2,048 1.53
 ----------- --------
Total Deposits 1,179,354 4,815 1.64
FHLB Advances 1,149,387 4,774 1.67
Exchange Balances - - -
Junior Subordinated Debentures 84,034 986 4.72
Other Borrowings(5) 58,086 176 1.22
 ----------- --------
Total Interest-Bearing Liabilities 2,470,861 10,751 1.75
 --------
Noninterest-Bearing Deposits 53,495
Other Noninterest-Bearing Liabilities 19,818
 -----------
Total Liabilities 2,544,174
Stockholders' Equity 247,338
 -----------
Total Liabilities and Stockholders'
 Equity $2,791,512
 ===========
Net Interest-Earning Assets $133,563
 ===========
Net Interest Income/Interest Rate
 Spread $22,875 3.41%
 ======== ===========
Net Interest Margin 3.51%
 ===========

----------------------------------------------------------------------
(1) The average balance of loans receivable includes loans held for
 sale and is presented without reduction for the allowance for loan
 losses.
(2) Consists of mortgage-backed securities and U.S. government
 securities which are classified as available-for-sale, excluding
 the unrealized gains or losses on these securities.
(3) Consists of cash in interest-earning accounts and federal funds
 sold.
(4) Consists of savings, money market accounts and other
 interest-bearing deposits.
(5) Consists of securities sold under agreements to repurchase,
 federal funds purchased, warehouse line of credit and other
 short-term borrowings.


COMMERCIAL CAPITAL BANCORP, INC.
Average Balances, Net Interest Income, Yields Earned and Rates Paid
(Dollars in Thousands)

 SIX MONTHS ENDED JUNE 30,
 ---------------------------------
 2005
 ---------------------------------
 Average Interest Average
 Balance Yield/Cost
 ----------- --------- -----------
Interest-Earning Assets:
Total Loans(1) $4,136,434 $114,445 5.53%
Securities(2) 469,190 10,209 4.35
FHLB Stock 97,487 2,120 4.35
Cash and Cash Equivalents(3) 11,615 145 2.50
 ----------- ---------
Total Interest-Earning Assets 4,714,726 126,919 5.38
Noninterest-Earning Assets 508,412
 -----------
Total Assets $5,223,138
 ===========

Interest-Bearing Liabilities:
Deposits:
Transaction Accounts(4) $927,520 8,130 1.77
Certificates of Deposits 1,045,302 12,605 2.43
 ----------- ---------
Total Deposits 1,972,822 20,735 2.12
FHLB Advances 1,841,881 22,067 2.42
Exchange Balances 362,148 1,487 0.83
Junior Subordinated Debentures 147,686 4,350 5.94
Other Borrowings(5) 75,331 1,021 2.73
 ----------- ---------
Total Interest-Bearing Liabilities 4,399,868 49,660 2.28
 ---------
Noninterest-Bearing Deposits 118,484
Other Noninterest-Bearing
 Liabilities 51,845
 -----------
Total Liabilities 4,570,197
Stockholders' Equity 652,941
 -----------
Total Liabilities and Stockholders'
 Equity $5,223,138
 ===========
Net Interest-Earning Assets $314,858
 ===========
Net Interest Income/Interest Rate
 Spread $77,259 3.10%
 ========= ===========
Net Interest Margin 3.28%
 ===========

 --------------------------------
 2004
 --------------------------------
 Average Interest Average
 Balance Yield/Cost
 ----------- -------- -----------
Interest-Earning Assets:
Total Loans(1) $1,540,505 $41,688 5.41%
Securities(2) 581,865 12,471 4.29
FHLB Stock 52,063 1,061 4.08
Cash and Cash Equivalents(3) 7,106 36 1.01
 ----------- --------
Total Interest-Earning Assets 2,181,539 55,256 5.07
Noninterest-Earning Assets 123,165
 -----------
Total Assets $2,304,704
 ===========

Interest-Bearing Liabilities:
Deposits:
Transaction Accounts(4) $530,577 4,771 1.81
Certificates of Deposits 398,575 3,132 1.58
 ----------- --------
Total Deposits 929,152 7,903 1.71
FHLB Advances 1,008,654 8,669 1.73
Exchange Balances - - -
Junior Subordinated Debentures 69,136 1,624 4.72
Other Borrowings(5) 61,226 383 1.26
 ----------- --------
Total Interest-Bearing Liabilities 2,068,168 18,579 1.81
 --------
Noninterest-Bearing Deposits 43,410
Other Noninterest-Bearing Liabilities 15,467
 -----------
Total Liabilities 2,127,045
Stockholders' Equity 177,659
 -----------
Total Liabilities and Stockholders'
 Equity $2,304,704
 ===========
Net Interest-Earning Assets $113,371
 ===========
Net Interest Income/Interest Rate
 Spread $36,677 3.26%
 ======== ===========
Net Interest Margin 3.36%
 ===========

------------------------------------- ----------- -------- -----------
(1) The average balance of loans receivable includes loans held for
 sale and is presented without reduction for the allowance for loan
 losses.
(2) Consists of mortgage-backed securities and U.S. government
 securities which are classified as available-for-sale, excluding
 the unrealized gains or losses on these securities.
(3) Consists of cash in interest-earning accounts and federal funds
 sold.
(4) Consists of savings, money market accounts and other
 interest-bearing deposits.
(5) Consists of securities sold under agreements to repurchase,
 federal funds purchased, warehouse line of credit and other
 short-term borrowings.


COMMERCIAL CAPITAL BANCORP, INC.
Reconciliation of Non-GAAP Financial Measures
(Dollars in Thousands, except per share data)

The following tables provide a reconciliation of the Company's
reported net interest margin and net interest spread compared to
adjusted net interest margin and net interest spread, excluding the
net effect of the amortization or accretion of premiums or discounts
resulting from the purchase accounting adjustments due to the
Hawthorne acquisition:

 Q2 2005 As Reported Excluding
 Premium/Discount
 Effect
 --------------------------------- -------------------
 Average Interest Avg. Average Interest
 Balance Yield/Cost Balance
 ----------- --------- ----------- --------- ---------

Total Interest-
 Earning Assets $4,740,920 $64,678 5.46% $4,617 $(915)

Total Interest-
 Bearing
 Liabilities 4,418,099 25,753 2.34% (3,600) 417

 --------- ---------
Net Interest
 Income/Interest
 Rate Spread $38,925 3.12% $(1,332)
Net Interest
 Margin 3.28%

 Q1 2005 As Reported Excluding
 Premium/Discount
 Effect
 --------------------------------- -------------------
 Average Interest Avg. Average Interest
 Balance Yield/Cost Balance
 ----------- --------- ----------- --------- ---------

Total Interest-
 Earning Assets $4,688,240 $62,241 5.31% $7,390 $(2,096)

Total Interest-
 Bearing
 Liabilities 4,381,436 23,907 2.21% (4,090) 549

 --------- ---------
Net Interest
 Income/Interest
 Rate Spread $38,334 3.10% $(2,645)
Net Interest
 Margin 3.27%


 Q2 2005 Adjusted
 ----------------------------------
 Average Interest Avg.
 Balance Yield/Cost
 ----------- --------- ------------

Total Interest-Earning Assets $4,745,537 $63,763 5.37%

Total Interest-Bearing Liabilities $4,414,499 $26,170 2.38%

 ---------
Net Interest Income/Interest Rate
 Spread $37,593 2.99%
Net Interest Margin 3.17%

 Q1 2005 Adjusted
 ----------------------------------
 Average Interest Avg.
 Balance Yield/Cost
 ----------- --------- ------------

Total Interest-Earning Assets $4,695,630 $60,145 5.12%

Total Interest-Bearing Liabilities 4,377,346 24,456 2.27%

 ---------
Net Interest Income/Interest Rate
 Spread $35,689 2.85%
Net Interest Margin 3.04%


COMMERCIAL CAPITAL BANK, FSB
Selected Financial Data
(Dollars in Thousands)
 June 30, Mar. 31,
 2005 2005
----------------------------------------------------------------------
 ASSETS
----------------------------------------------------------------------
 Cash and Cash Equivalents $29,675 $72,805
 Securities 442,782 462,937
 FHLB Stock 98,943 97,007
 Loans Held For Investment
 Single Family 196,605 209,480
 Multi-family 2,804,188 2,629,668
 Commercial Real Estate 518,106 440,088
 Construction 190,302 225,650
 Land 43,946 48,182
 -------------------------
Total Real Estate Loans 3,753,147 3,553,068
 Business & Other Loans 18,610 19,251
 -------------------------
Total Loans Held for Investment 3,771,757 3,572,319
 Net Deferred Fees, Premiums and
 Discounts (25) (2,689)
 Allowance for Loan Losses (28,731) (28,743)
 -------------------------
Total Loans Held for Investment, Net 3,743,001 3,540,887
 Loans Held For Sale 303,754 611,576
 -------------------------
Total Loans 4,046,755 4,152,463
 Other Assets 502,369 500,496
 -------------------------
 TOTAL ASSETS $5,120,524 $5,285,708
======================================================================
LIABILITIES AND STOCKHOLDER'S EQUITY
----------------------------------------------------------------------
 Deposits
 Demand Deposits - Noninterest-Bearing $222,143 $125,973
 Demand Deposits - Interest-Bearing 74,941 78,611
 Money Market Checking 600,640 669,359
 Money Market Savings 532,838 195,875
 Savings 218,665 281,766
 -------------------------
 Total Transaction Deposits 1,649,227 1,351,584
 Total Time Deposits 1,055,305 1,048,408
 -------------------------
 Total Deposits 2,704,532 2,399,992
 Borrowings 1,586,028 2,076,338
 Other Liabilities 58,963 58,507
----------------------------------------------------------------------
 TOTAL LIABILITIES 4,349,523 4,534,837
 STOCKHOLDER'S EQUITY 771,001 750,871
----------------------------------------------------------------------
 TOTAL LIABILITIES AND STOCKHOLDER'S
 EQUITY $5,120,524 $5,285,708
======================================================================
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