OAKLAND, CA--(Marketwire - January 31, 2011) - Community Bank of the Bay (OTCBB: CBYAA) announces a profit of $89,390 for the fourth quarter of 2010.

Financial performance highlights for the three months ended December 31, 2010:

  • Strong capital ratios with a Tier 1 leverage ratio of 12.06% and total risk based capital of 17.04%

  • 38% asset growth year over year

  • 47% loan growth year over year

  • 24% deposit growth year over year

"This is our second consecutive quarter of profitability in 2010. We are proud of the progress we have made, evidenced by a profit of $89,390 for the fourth quarter of 2010 compared to a loss of $105,451 in the fourth quarter of 2009," stated Brian K. Garrett, Chief Executive Officer. "We saw tremendous growth in 2010, especially in SBA lending and in our new markets of Danville and San Jose."

Community Bank of the Bank provided the following further detail. Total assets as of December 31, 2010 were $115 million, and represented an increase of $31 million compared to December 31, 2009. Net loans totaled $84 million and represented an increase of $27 million from the prior year, while total deposits of $90 million represented an increase of $18 million from the prior year. With total shareholder capital of $14.7 million, the Tier 1 risk-based capital ratio of 15.78% exceeds the FDIC's definition for a "well capitalized" institution.

"Our entrance into new markets, the hard work of our team, and most importantly the trust and loyalty that our many established and successful clients showed in us allowed the Bank to finish the year with two quarters of modest profitability. In 2011 we will continue to focus on our core belief that a financially sound, relationship-oriented bank can be both a trusted partner to our clients and a sound investment for our shareholders," said William Keller, President and Chief Operating Officer.

Community Bank of the Bay serves the financial needs of a variety of commercial customers including businesses and professional service firms. Information on the bank is available online at www.communitybankbay.com. Community Bank of the Bay is a member of the FDIC.

Contact Information:

Media contact:
Brian K. Garrett
(510) 433-5402