Community Bank Has Profitable Second Quarter and Receives $1.7 Million in Additional New Capital

BRADENTON, Fla., July 22 /PRNewswire/ -- Chairman and CEO, William H. Sedgeman, Jr., announced today that Community Bank posted net income of $490,000 in the second quarter and that an additional $1.7 million in capital has been received by the bank bringing the Bank's Tier 1 Leverage Ratio to 8.9% and its Total Risk-based Capital Ratio to 13.4%.   Community Bank made new loans totaling over $14 million in the second quarter to Tampa Bay area individuals and businesses.

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"We are extremely excited to have turned a profit in the quarter ended June 30.   With so many banks facing troubling times, we are happy to separate ourselves from the pack.    Our staff is busy opening new checking and savings accounts, many from those dissatisfied with the mega-banking model.  We get to know our customers, their dreams and aspirations and that sets us apart and encourages people to move their money," said Sedgeman.

Director Trevor Burgess added, "we are one of the few community banks to have the commitment of existing and new shareholders to contribute equity as the bank needs it for growth.   Contrary to popular belief, there are many businesses in the Tampa Bay area that are thriving and who need access to loans.   We are developing great new relationships with these businesses as we are actively lending money – this will serve us and our customers for many years to come."

Director Marcelo Lima noted, "Community Bank now has the highest capital ratios in its 14 year history.   This sign of strength coupled with our success in generating earnings in the second quarter is a testament to our staff who are dedicated to finding sophisticated solutions to our customer's banking needs."

ABOUT COMMUNITY BANK OF MANATEE

Community Bank continues to specialize in solutions for individuals by offering the regions best checking account, "Clover Gold," residential mortgages including "jumbo mortgages" with local, quick decision-making and business solutions including Small Business Administration loans. Community Bank was recently ranked as the number one local community bank for SBA loans.

Community Bank, is a local, independent bank serving the communities of Florida's central Gulf Coast with five branches in Manatee and Hillsborough counties:

For more information, visit the bank's website at:  www.CommunityBankNow.com or contact the nearest office.

SOURCE Community Bank of Manatee