Community Central Bank Corporation Reports Quarterly Operating Earnings

First Quarter 2001 Highlights

* Total Assets ended at $217 million, up 13% over last year

* Twelfth consecutive profitable quarter

* Non-performing assets comprised just 0.19% of total assets

* Solid earnings performance despite sharp drop in interest rates



Apr 17, 2001, 01:00 ET from Community Central Bank Corporation

    MT. CLEMENS, Mich., April 17 /PRNewswire/ -- Community Central Bank
 Corporation (OTC Bulletin Board:   CCBD) posted solid growth in assets and
 deposits, but net interest income reflected margin pressure from falling
 interest rates, said Harold W. Allmacher, Chairman and Chief Executive
 Officer.
     Net income for the first quarter was $399,000, or $0.15 per diluted share,
 up modestly from net income of $395,000, or $0.15 per diluted share, for
 2000's first quarter.
     Slightly lower net interest income was partially offset by a sizeable rise
 in noninterest income.  Net interest income was $1,810,000, compared with
 $1,858,000 for the year-earlier quarter.  The change reflects competitive
 market conditions and pressure on margins from falling interest rates.
 Noninterest income -- from fees and charges -- and aided by security gains of
 $41,000, rose 36% to $173,000 from $127,000 the year before.  The quarter also
 benefited from a 26% drop in the loan loss provision to $100,000 from $135,000
 a year ago.  The allowance stood at a healthy 1.73% of total loans, up from
 1.36% at the close of 2000's first quarter.
     "Our team turned-in impressive results, especially given the volatile
 interest rate environment and our sensitivity to the prime rate.  Our loan
 portfolio is about 50% prime based.  When interest rates fall as quickly as
 they have, the yield on assets tied to prime change immediately; however there
 is a delay of several months before the liabilities funding these assets can
 reprice and aid in increasing interest margin.  The 150-basis-point decrease
 in short-term interest rates during the first quarter of 2001 decreased our
 net interest margin by about 33-basis points," Mr. Allmacher said.
     At the close of the quarter, assets stood at $216,986,000, up 13% over
 assets of $191,491,000 at the close of the first quarter of 2000.  Deposits
 also experienced double-digit growth, reaching $190,234,000 at the close of
 the quarter, up 12% from $170,052,000 at the close of the year-earlier
 quarter.  Total loans outstanding remained somewhat flat reflecting a cooling
 of the economy and a strategic focus on building the deposit base.
     David Widlak, Vice Chairman of the Corporation and Chairman of Community
 Central Bank, noted that the Board of Directors is considering applying for a
 listing on the NASDAQ Stock Market with an aim toward improving share
 visibility, increasing trading volume and enhancing share value.
     Total outstanding shares of common stock at March 31, 2001, were
 2,661,922.
     Community Central Bank Corporation is a bank holding company, operating
 Community Central Bank in Mount Clemens, Michigan.  The Corporation opened for
 business in downtown Mount Clemens in October 1996.  The Bank serves the
 businesses and consumers throughout Macomb County with a full range of lending
 and deposit services.  The Corporation also operates a Loan Center in Port
 Huron, Michigan, serving small to medium-sized businesses in the St. Clair
 County area.
 
     Forward-Looking Statements
     This news release contains comments or information that constitute
 forward-looking statements (within the meaning of the Private Securities
 Litigation Reform Act of 1995), which involve significant risks and
 uncertainties.  Actual results may differ materially from the results
 discussed in the forward-looking statements.  Factors that might cause such a
 difference include, changes in interest rates and interest rate relationships;
 demand for products and services; the degree of competition by traditional and
 non-traditional competitors; changes in banking regulation; changes in tax
 laws; changes in prices, levies, and assessments; the impact of technological
 advances; governmental and regulatory policy changes; the outcomes of
 contingencies; trends in customer behavior as well as their ability to repay
 loans; changes in the national and local economy; and other factors included
 in Community Central Bank Corporation's filings with the Securities and
 Exchange Commission.
 
         Community Central Bank Corporation (OTC Bulletin Board:   CCBD)
                       Summary of Selected Financial Data
 
     The following financial data is derived from the Corporation's unaudited
 financial statements as of and for the periods ended March 31, 2001 & 2000.
 Interim financial statements and data should be read in conjunction with the
 Corporation's Annual Report on Form 10-KSB for the year ended December 31,
 2000.  Results of operations for interim periods may not necessarily be
 indicative of the results to be expected for the full year.
 
                                                       At the Quarter Ended
                                                              March 31,
                                                        2001           2000
 
                                         (In thousands, except per share data)
     OPERATIONS
     Interest income                                   $4,220         $3,791
     Interest expense                                   2,410          1,933
     Net Interest Income                                1,810          1,858
     Provision for credit losses                          100            135
 
     Net Interest Income after Provision                1,710          1,723
 
     Noninterest income                                   173            127
     Noninterest expense                                1,281          1,238
 
     Income before Taxes and change                       602            612
 
 
     Provision for income taxes                           203            217
 
     Net Income                                          $399           $395
 
     FINANCIAL CONDITION
     Assets                                          $216,986       $191,491
     Loans                                            151,678        150,999
     Deposits                                         190,234        170,052
     Short term borrowings                              5,011          1,735
     Stockholders' equity                              19,240         17,426
 
     PER SHARE DATA
     Basic and diluted earnings per share               $0.15          $0.15
     Basic average shares outstanding                   2,608          2,601
     Diluted average shares outstanding                 2,609          2,601
 
     OTHER DATA
     Net interest margin                                 3.58%          4.21%
     Allowance for credit losses to total loans          1.73%          1.36%
     Nonperforming assets to total assets                0.19%          0.21%
     Stockholders' equity to total assets                8.87%          9.10%
 
 

SOURCE Community Central Bank Corporation
    MT. CLEMENS, Mich., April 17 /PRNewswire/ -- Community Central Bank
 Corporation (OTC Bulletin Board:   CCBD) posted solid growth in assets and
 deposits, but net interest income reflected margin pressure from falling
 interest rates, said Harold W. Allmacher, Chairman and Chief Executive
 Officer.
     Net income for the first quarter was $399,000, or $0.15 per diluted share,
 up modestly from net income of $395,000, or $0.15 per diluted share, for
 2000's first quarter.
     Slightly lower net interest income was partially offset by a sizeable rise
 in noninterest income.  Net interest income was $1,810,000, compared with
 $1,858,000 for the year-earlier quarter.  The change reflects competitive
 market conditions and pressure on margins from falling interest rates.
 Noninterest income -- from fees and charges -- and aided by security gains of
 $41,000, rose 36% to $173,000 from $127,000 the year before.  The quarter also
 benefited from a 26% drop in the loan loss provision to $100,000 from $135,000
 a year ago.  The allowance stood at a healthy 1.73% of total loans, up from
 1.36% at the close of 2000's first quarter.
     "Our team turned-in impressive results, especially given the volatile
 interest rate environment and our sensitivity to the prime rate.  Our loan
 portfolio is about 50% prime based.  When interest rates fall as quickly as
 they have, the yield on assets tied to prime change immediately; however there
 is a delay of several months before the liabilities funding these assets can
 reprice and aid in increasing interest margin.  The 150-basis-point decrease
 in short-term interest rates during the first quarter of 2001 decreased our
 net interest margin by about 33-basis points," Mr. Allmacher said.
     At the close of the quarter, assets stood at $216,986,000, up 13% over
 assets of $191,491,000 at the close of the first quarter of 2000.  Deposits
 also experienced double-digit growth, reaching $190,234,000 at the close of
 the quarter, up 12% from $170,052,000 at the close of the year-earlier
 quarter.  Total loans outstanding remained somewhat flat reflecting a cooling
 of the economy and a strategic focus on building the deposit base.
     David Widlak, Vice Chairman of the Corporation and Chairman of Community
 Central Bank, noted that the Board of Directors is considering applying for a
 listing on the NASDAQ Stock Market with an aim toward improving share
 visibility, increasing trading volume and enhancing share value.
     Total outstanding shares of common stock at March 31, 2001, were
 2,661,922.
     Community Central Bank Corporation is a bank holding company, operating
 Community Central Bank in Mount Clemens, Michigan.  The Corporation opened for
 business in downtown Mount Clemens in October 1996.  The Bank serves the
 businesses and consumers throughout Macomb County with a full range of lending
 and deposit services.  The Corporation also operates a Loan Center in Port
 Huron, Michigan, serving small to medium-sized businesses in the St. Clair
 County area.
 
     Forward-Looking Statements
     This news release contains comments or information that constitute
 forward-looking statements (within the meaning of the Private Securities
 Litigation Reform Act of 1995), which involve significant risks and
 uncertainties.  Actual results may differ materially from the results
 discussed in the forward-looking statements.  Factors that might cause such a
 difference include, changes in interest rates and interest rate relationships;
 demand for products and services; the degree of competition by traditional and
 non-traditional competitors; changes in banking regulation; changes in tax
 laws; changes in prices, levies, and assessments; the impact of technological
 advances; governmental and regulatory policy changes; the outcomes of
 contingencies; trends in customer behavior as well as their ability to repay
 loans; changes in the national and local economy; and other factors included
 in Community Central Bank Corporation's filings with the Securities and
 Exchange Commission.
 
         Community Central Bank Corporation (OTC Bulletin Board:   CCBD)
                       Summary of Selected Financial Data
 
     The following financial data is derived from the Corporation's unaudited
 financial statements as of and for the periods ended March 31, 2001 & 2000.
 Interim financial statements and data should be read in conjunction with the
 Corporation's Annual Report on Form 10-KSB for the year ended December 31,
 2000.  Results of operations for interim periods may not necessarily be
 indicative of the results to be expected for the full year.
 
                                                       At the Quarter Ended
                                                              March 31,
                                                        2001           2000
 
                                         (In thousands, except per share data)
     OPERATIONS
     Interest income                                   $4,220         $3,791
     Interest expense                                   2,410          1,933
     Net Interest Income                                1,810          1,858
     Provision for credit losses                          100            135
 
     Net Interest Income after Provision                1,710          1,723
 
     Noninterest income                                   173            127
     Noninterest expense                                1,281          1,238
 
     Income before Taxes and change                       602            612
 
 
     Provision for income taxes                           203            217
 
     Net Income                                          $399           $395
 
     FINANCIAL CONDITION
     Assets                                          $216,986       $191,491
     Loans                                            151,678        150,999
     Deposits                                         190,234        170,052
     Short term borrowings                              5,011          1,735
     Stockholders' equity                              19,240         17,426
 
     PER SHARE DATA
     Basic and diluted earnings per share               $0.15          $0.15
     Basic average shares outstanding                   2,608          2,601
     Diluted average shares outstanding                 2,609          2,601
 
     OTHER DATA
     Net interest margin                                 3.58%          4.21%
     Allowance for credit losses to total loans          1.73%          1.36%
     Nonperforming assets to total assets                0.19%          0.21%
     Stockholders' equity to total assets                8.87%          9.10%
 
 SOURCE  Community Central Bank Corporation