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<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=5>UNITED STATES</FONT></B></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=5>SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Washington, D.C. 20549</FONT></B></TD></TR></TABLE></P>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=5>FORM 8-K</FONT></B></TD></TR></TABLE></P>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CURRENT REPORT</FONT></B></TD></TR></TABLE></P>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Pursuant to Section 13 OR 15(d) of</FONT></B><BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">The Securities Exchange Act of 1934</FONT></B></TD></TR></TABLE></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of Report (Date of earliest event reported) </FONT><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">April 24, 2007</FONT></B></P>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=5>CHINO COMMERCIAL BANCORP</FONT></B><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(Exact name of registrant as specified in its charter) </FONT></TD></TR></TABLE></P>
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     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CA</FONT></B>&nbsp; </TD>
     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">000-52098</FONT></B>&nbsp; </TD>
     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">20-4797048</FONT></B>&nbsp; </TD></TR>
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     <TD noWrap align=center>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(State of incorporation)</FONT>&nbsp; </TD>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(Commission File Number)</FONT>&nbsp; </TD>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(IRS Employer</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Identification No.)</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">14345 Pipeline Avenue</FONT></B>&nbsp; </TD>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Chino, California</FONT></B>&nbsp; </TD>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">91710</FONT></B>&nbsp; </TD></TR>
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     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Address of Principal Executive Offices</FONT>&nbsp; </TD>
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     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(909) 393-8880</FONT></B><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Registrant&#146;s telephone number, including area code</FONT></TD></TR></TABLE></P>
<P align=justify><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the follow provisions:</FONT></P>
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<P align=justify><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
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     <TD vAlign=top noWrap><FONT face=Wingdings-Regular,WingDings size=2>&#168;</FONT>&nbsp; &nbsp; &nbsp; </TD>
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<P align=justify><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
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     <TD vAlign=top noWrap><FONT face=Wingdings-Regular,WingDings size=2>&#168;</FONT>&nbsp; &nbsp; &nbsp; </TD>
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<P align=justify><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
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<P align=justify><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
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<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 2.02 Results of Operations and Financial Condition</FONT></P>
<P align=left><FONT size=2>On April 24, 2007 the Registrant issued a press release announcing its unaudited financial results for the quarter ended March 31, 2007. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this report (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and shall not be deemed to be &#147;filed&#148; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the &#147;Exchange Act&#148;) or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.</FONT></P>
<P align=left><FONT size=2><B>ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS</B></FONT></P>
<P align=left><FONT size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</FONT></P>
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     <TD style="BORDER-BOTTOM: #000000 1pt solid" width="10%"><FONT size=2><B><FONT size=1>Exhibit Number&nbsp;</FONT></B></FONT></TD>
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     <TD style="BORDER-BOTTOM: #000000 1pt solid" width="85%"><FONT size=2><B><FONT size=1>Description</FONT></B></FONT></TD></TR>
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     <TD width="10%"><FONT size=2>99.1&nbsp;&nbsp;</FONT></TD>
     <TD width="5%" background="">&nbsp;</TD>
     <TD width="85%"><FONT size=2>Press Release dated April 24, 2007</FONT></TD></TR></TABLE><FONT size=2></FONT></P>
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     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For Release</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">April 24, 2007</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">OTC BB: &#147;CCBC&#148;</FONT></TD></TR></TABLE></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CHINO COMMERCIAL BANCORP REPORTS FIRST QUARTER EARNINGS</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chino, California&#133; The Board of Directors of Chino Commercial Bancorp, the parent company of Chino Commercial Bank NA, announced the results of operations for the Bank and the consolidated holding company for the first quarter ended March 31, 2007 with net earnings of $177,784 a 30.3% reduction from $254,910 for the fourth quarter of 2006, and a 32.8% reduction from net income of $264,531 for the first quarter of last year. The reduction in net income was caused in part by a significant out of pattern provision to loan loss reserve during the first quarter of $77,174. Net income per basic share for the first quarter was $0.23 as compared to $0.31 per share for the fourth quarter ended December 31, 2006, and $0.32 for the first quarter last year.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dann H. Bowman, President and Chief Executive Officer stated, &#147;The Bank made a significant provision to Loan Loss Reserve during the first quarter, despite having no delinquent or non-performing loans at the quarter-end. Looking at a number of economic events occurring in and around the real estate industries, the Bank is taking a proactive and conservative approach to credit quality by making this provision. Though the provision resulted in lower earnings during the first quarter, in the long run we believe that these conservative credit practices will be a benefit the Bank ongoing.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At quarter-end March 31, 2007 the Bank had no delinquent loans, no loans on non-accrual status, and experienced no credit losses year-to-date, and no credit losses for the past six years. The Bank has not originated, and has no exposure to sub-prime mortgage loans, or option ARM mortgages.&#148; Net earnings for the first quarter represent a return on average equity of 10.53% and a return of average assets of 0.82% .</FONT></P>
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     <TD noWrap><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Financial Condition</FONT></U></TD></TR></TABLE></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At March 31, 2007, total assets were $92.7 million, an increase of $2.2 million or 2.5% from December 31, 2006, and an increase of $1.1 million or 1.2% from March 31, 2006.</FONT></P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Loans were relatively unchanged with a slight reduction during the first quarter of $165,000 from December 31, 2006 with a balance at March 31, 2007 of $51.6 million. Comparing the balances of March 31, 2006, the Company&#146;s loans increased to $7.3 million or 16.6% during the twelve month period. The growth was primarily in real estate secured lending. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total deposits increased by 4.9% to $83.3 million at March 31, 2007 an increase from $79.5 million at December 31, 2006. Total deposits decreased 0.8% from March 31, 2006&#146;s balance of $84.0 million. The Company&#146;s core deposits represent 96.8% of the total deposits.</FONT></P>
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     <TD noWrap><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings</FONT></U></TD></TR></TABLE></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Company posted net interest income of $1,074,278 for the quarter ended March 31, 2007 as compared to $1,095,527 for the quarter ended March 31, 2006. Average interest-earning assets were $81.5 million with average interest-bearing liabilities of $29.0 million yielding a net interest margin of 5.30% for the quarter ended March 31, 2007 as compared to average interest-bearing assets of $81.1 million with average interest-bearing liabilities of $28.2 million yielding a net interest margin of 5.75% for the fourth quarter of 2006. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Non-interest income totaled $211,870 for the first quarter of 2007, or an increase of 38.5% from $152,951 earned during the year ended March 31, 2006. Service charges on deposit accounts increased 37.8% to $177,382 due to increased of overdraft and return item charges.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">General and administrative expenses were $937,680 for the three months ended March 31, 2007 as compared to $803,238 for the three months ended March 31, 2006. The largest component of general and administrative expenses was salary and benefits expense of $481,853 for the first quarter of 2007 as compared to $409,178 for the three months ended March 31, 2006. The increase in Salaries and benefits expenses was reflective of salary increases, incentive compensation, and the increase in retirement plan accruals. Other components of general and administrative expenses that affected the increase were Advertising and Marketing expenses which increased by $25,077 for the comparable three month period due to a marketing campaign which the Company entered into during the first quarter. Audit and Professional fees increased $26,531 during the first quarter of 2007 due to additional costs incurred in the purchase of shares from stockholders and an increase in accruals to reflect timely recognition of audit and professional fees incurred during the first quarter. Other expenses increased by $19,423 for the comparable three month period due primarily due to increased Reserve for Undisbursed Credits of $11,281.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Income tax expense was $104,791 for the three months ended March 31, 2007 as compared to $171,959 for the three months ended March 31, 2006. The effective income tax rate for 2007 and 2006 is approximately 39%. </FONT></P>
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     <TD noWrap><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Forward-Looking Statements</FONT></U></TD></TR></TABLE></P>
<P align=justify><FONT size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about the Bank&#146;s plans, objectives, management&#146;s expectations, intentions, relationships, opportunities, and technology and market condition statements. When used in these presentations, the words &#147;expects,&#148; &#147;anticipates,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;believes,&#148; &#147;seeks,&#148; &#147;estimates,&#148; or words of similar meaning, or future or conditional verbs, such as &#147;will,&#148; &#147;would,&#148; &#147;should,&#148; &#147;could,&#148; or &#147;may&#148; are generally intended to identify forward-looking statements. These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company&#146;s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change.</FONT></FONT></FONT></P>
<P align=justify><FONT size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=3>Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties. These include, but are not limited to, the following risks; (1) changes in performance of the financial markets; (2) changes in the demand for and market acceptance of Chino Commercial Bancorp&#146;s products and services; (3) changes in general economic conditions including interest rates, presence of competitors with greater financial resources, and the impact of competitive products and pricing; (4) the effect of the Company&#146;s policies; (5) the continued availability of adequate funding sources.</FONT> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Bank is not obligated to update and does not undertake to update any of its forward-looking statements made herein.</FONT></FONT></FONT></P>
<P align=justify><FONT size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Contact: Dann H. Bowman, President and CEO or Sandra F. Pender, Vice President and CFO, Chino Commercial Bank, N.A., 14345 Pipeline Avenue, Chino, Ca. 91710, (909) 393-8880</FONT></FONT></FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
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     <TD align=center colSpan=7><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>CHINO COMMERCIAL BANCORP</FONT></B> </TD></TR>
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     <TD align=center colSpan=7><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>STATEMENTS OF FINANCIAL CONDITION</FONT> </TD></TR>
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     <TD align=center colSpan=7><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>March 31, 2007 and December 31, 2006</FONT> </TD></TR>
<TR>
     <TD colSpan=7>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2007</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2006</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>ASSETS:</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=center>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(unaudited)</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Cash and Due from Banks</FONT>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT> </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4,367,398</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT> </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4,201,391</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Federal Funds Sold</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>16,460,000</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>10,775,000</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
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     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Cash and Cash equivalents</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>20,827,398</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>14,976,391</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest-bearing deposits at banks</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,246,000</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,541,000</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Investment Securities available for sale</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>10,002,655</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>11,839,152</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Investment Securities held to maturity (fair value approximates</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$4,481,000 at March 31, 2007 and $4,696,000 at December 31, 2006)</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4,567,602</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4,784,277</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
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     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total investments</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>15,816,257</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>19,164,429</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
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     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Loans</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Construction</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,378,718</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,925,067</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Real estate</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>38,017,981</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>37,521,967</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Commercial</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>11,377,458</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>11,655,290</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Installment</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>834,359</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>670,765</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Unearned fees and discounts</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(141,275</FONT> </TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>)</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(136,046</FONT> </TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>)</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Allowance for loan losses</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(681,701</FONT> </TD>
     <TD style="BORDER-BOTTOM: #ffffff 2pt double" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>)</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(615,808</FONT> </TD>
     <TD style="BORDER-BOTTOM: #ffffff 2pt double" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>)</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Loans</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>50,785,540</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>51,021,235</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Restricted stock</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>633,600</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>627,500</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Fixed Assets, net</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,196,841</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,222,503</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Accrued Interest Receivable</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>303,165</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>385,764</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Prepaid &amp; Other Assets</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,135,968</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,076,976</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Assets</FONT>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT> </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>92,698,769</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT> </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>90,474,798</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR>
     <TD colSpan=7>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>LIABILITIES:</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Deposits</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Non-interest Bearing</FONT>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT> </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>56,268,332</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT> </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>53,845,147</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest Bearing</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>NOW and Money market</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>21,631,577</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>19,907,277</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Savings</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>908,790</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,001,135</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Time deposits less than $100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,893,123</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,818,235</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Time deposits of $100,000 or greater</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,647,015</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,882,341</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Deposits</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>83,348,837</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>79,454,135</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Accrued Interest Payable</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>65,279</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>61,477</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Accrued Expenses &amp; Other Payables</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>438,495</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>412,745</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Subordinated Debentures</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>3,093,000</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>3,093,000</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Liabilities</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>86,945,611</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>83,021,357</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>STOCKHOLDERS' EQUITY</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Common Stock, authorized 10,000,000 shares with no par value, issued</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>and outstanding 722,468 shares and 808,214 shares at March 31, 2007</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>and December 31, 2006, respectively.</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>3,122,637</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>5,022,984</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Retained earnings</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,685,156</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2,507,373</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Accumulated other comprehensive loss</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(54,635</FONT> </TD>
     <TD style="BORDER-BOTTOM: #ffffff 2pt double" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>)</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(76,916</FONT> </TD>
     <TD style="BORDER-BOTTOM: #ffffff 2pt double" noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>)</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Equity</FONT>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>5,753,158</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>7,453,441</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Liabilities &amp; Equity</FONT>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT> </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>92,698,769</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT> </TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>90,474,798</FONT> </TD>
     <TD noWrap align=left>&nbsp; </TD></TR></TABLE><BR>
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<A name="page_6"></A>
<TABLE cellSpacing=0 cellPadding=0 border=0>
<TR>
     <TD width="54%"></TD>
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     <TD width="19%"></TD>
     <TD width="3%"></TD>
     <TD width="18%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center colSpan=5><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><B>CHINO COMMERCIAL BANCORP&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center colSpan=5><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>STATEMENTS OF OPERATIONS</FONT>&nbsp; &nbsp; &nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center colSpan=5><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(unaudited)</FONT>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</TD></TR>
<TR>
     <TD colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=center colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>For the Quarter Ended</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>March 31, 2007</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>March 31, 2006</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest Income</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest Income - Securities</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>191,235</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>286,680</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest Income - Fed Funds</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>116,830</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>77,874</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest and fee income on Loans</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>977,172</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>811,179</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Interest Income</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,285,237</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,175,733</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest Expense</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest Expense - Deposits</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>159,696</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>79,906</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Interest Expense - Other Borrowings</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>51,263</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>300</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Interest Expense</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>210,959</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>80,206</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Net interest income</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,074,278</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,095,527</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Provision for loan losses</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>65,893</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>8,750</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Net interest income after</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>provision for loan losses</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,008,385</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,086,777</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Non-interest income</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Service Charges on Deposit Accounts</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>177,682</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>128,948</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Other miscellaneous fee income</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>9,110</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>3,128</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Dividend Income from Restricted Stock</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>8,875</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>6,194</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Income from Bank Owned Life Insurance</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>16,203</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>14,681</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total Non-interest income</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>211,870</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>152,951</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>General &amp; Administrative Expenses</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Salaries &amp; Benefits</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>481,853</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>409,178</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Occupancy &amp; Equipment</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>93,241</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>104,639</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Data &amp; Item Processing</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>66,590</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>63,050</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Advertising &amp; Marketing</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>39,526</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>14,449</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Audit &amp; Professional fees</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>70,353</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>43,822</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Insurance</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>6,358</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>6,144</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Directors' fees and expenses</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>20,451</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>22,071</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Other expenses</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>159,308</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>139,885</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total general &amp; administrative expenses</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>937,680</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>803,238</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Income before income tax expense</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>282,575</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>436,490</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Income tax expense</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>104,791</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>171,959</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total income</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>177,784</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>264,531</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Basic Earnings per share</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.23</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.32</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Diluted Earnings per share</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.21</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.30</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>See accompanying notes to the financial statements.</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
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<TR>
     <TD width="55%"></TD>
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<TR vAlign=bottom>
     <TD noWrap align=center colSpan=7><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"><FONT size=2><B>CHINO COMMERCIAL BANCORP&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center colSpan=7><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Selected Financial Highlights</FONT> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=center colSpan=4><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>For the Quarter Ended</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=1><FONT size=2>March 31, 2007</FONT></FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right background=""><FONT size=2>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>March 31, 2006</FONT>&nbsp;</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Selected Operating Data:</FONT></B>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>(unaudited)</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Net interest income</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,074,278</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right background=""><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1,081,927</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Provision for loan losses</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>65,893</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>8,750</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Non-interest income</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>211,870</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>146,757</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Non-interest expense</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>937,680</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>803,238</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Net income</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>177,784</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>264,531</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Share Data:</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Basic income per share</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.23</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right background=""><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.32</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Diluted Income per share</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.21</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right background=""><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.30</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Weighted average common shares outstanding</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Basic</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>722,468</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>818,453</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Diluted</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>834,495</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>883,992</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Performance Ratios:</FONT></B>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Return on average assets</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>0.82</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1.22</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Return on average equity</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>10.53</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>15.38</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Equity to total assets at the end of the period</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>6.21</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>7.33</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Net interest spread</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2.54</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4.56</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Net interest margin</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>5.27</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>5.61</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Average interest-earning assets to</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>average-bearing liabilities</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>281.51</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>354.51</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Core efficiency ratio</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>72.91</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>64.29</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Non-interest expense to average assets</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4.32</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>3.69</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Selected Balance Sheet Data:</FONT></B>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 3px double" noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=1><FONT size=2>March 31, 2007</FONT></FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right background=""><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=1><FONT size=2>December 31, 2006&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Total assets</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>92,698,769</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$</FONT></TD>
     <TD noWrap align=right background=""><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>90,474,798</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Investment securities held to maturity</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4,567,602</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>4,784,277</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Investment securities available for sale</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>10,002,655</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>11,839,152</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Loan receivable, net</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>51,608,516</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>51,021,235</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Deposits</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>83,348,837</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>79,454,135</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Non-interest bearing deposits</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>56,268,332</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>53,845,147</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Stockholders' equity</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>5,753,158</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>7,453,441</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Regulatory capital ratios:</FONT></B>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Average equity to average assets</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>7.77</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>8.16</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Leverage capital</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>10.47</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>11.05</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Tier I risk based</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>14.23</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>15.89</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Risk-based capital</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>16.14</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>16.92</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>Asset Quality Ratios:</FONT></B>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Allowance for loan losses as a percent</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp; of gross loans receivable</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1.32</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>1.24</FONT></TD>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>%</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Net charge-offs to average loans</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>n/a</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>n/a</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Non-performing loans to total loans</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>n/a</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>n/a</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Number of full-service customer facilities</FONT>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>2</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
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<A name="page_8"></A>
<P align=center>
<TABLE>
<TR>
     <TD noWrap align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SIGNATURE</FONT></B></TD></TR></TABLE></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>
<P align=left>
<TABLE>
<TR>
     <TD noWrap><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>April 24, 2007</FONT></TD></TR></TABLE></P>
<P align=left>
<TABLE>
<TR>
     <TD width=215>&nbsp;</TD>
     <TD noWrap><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>By: </FONT><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>/s/ Sandra F. Pender&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Sandra F. Pender</FONT><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Vice President and Chief Financial Officer</FONT></TD></TR></TABLE></P>
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{"company-data": {"conformed-name": "Chino Commercial Bancorp", "cik": "0001365794", "assigned-sic": "6021", "irs-number": "204797048", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-52098", "film-number": "07794121"}, "business-address": {"street1": "14345 PIPELINE AVENUE", "city": "CHINO", "state": "CA", "zip": "91710", "phone": "909-393-8880"}, "mail-address": {"street1": "14345 PIPELINE AVENUE", "city": "CHINO", "state": "CA", "zip": "91710"}}
ccb8k04242007.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
April 24, 2007
CHINO COMMERCIAL BANCORP
(Exact name of registrant as specified in its charter)
CA
000-52098
20-4797048
(State of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
14345 Pipeline Avenue
Chino, California
91710
Address of Principal Executive Offices
Zip Code
(909) 393-8880
Registrant's telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the follow provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition
On April 24, 2007 the Registrant issued a press release announcing its unaudited financial results for the quarter ended March 31, 2007. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this report (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c)     Exhibits
Exhibit Number
Description
99.1
Press Release dated April 24, 2007
For Release
April 24, 2007
OTC BB: "CCBC"
CHINO COMMERCIAL BANCORP REPORTS FIRST QUARTER EARNINGS
Chino, California… The Board of Directors of Chino Commercial Bancorp, the parent company of Chino Commercial Bank NA, announced the results of operations for the Bank and the consolidated holding company for the first quarter ended March 31, 2007 with net earnings of $177,784 a 30.3% reduction from $254,910 for the fourth quarter of 2006, and a 32.8% reduction from net income of $264,531 for the first quarter of last year. The reduction in net income was caused in part by a significant out of pattern provision to loan loss reserve during the first quarter of $77,174. Net income per basic share for the first quarter was $0.23 as compared to $0.31 per share for the fourth quarter ended December 31, 2006, and $0.32 for the first quarter last year.
Dann H. Bowman, President and Chief Executive Officer stated, "The Bank made a significant provision to Loan Loss Reserve during the first quarter, despite having no delinquent or non-performing loans at the quarter-end. Looking at a number of economic events occurring in and around the real estate industries, the Bank is taking a proactive and conservative approach to credit quality by making this provision. Though the provision resulted in lower earnings during the first quarter, in the long run we believe that these conservative credit practices will be a benefit the Bank ongoing.
At quarter-end March 31, 2007 the Bank had no delinquent loans, no loans on non-accrual status, and experienced no credit losses year-to-date, and no credit losses for the past six years. The Bank has not originated, and has no exposure to sub-prime mortgage loans, or option ARM mortgages." Net earnings for the first quarter represent a return on average equity of 10.53% and a return of average assets of 0.82% .
Financial Condition
At March 31, 2007, total assets were $92.7 million, an increase of $2.2 million or 2.5% from December 31, 2006, and an increase of $1.1 million or 1.2% from March 31, 2006.
Loans were relatively unchanged with a slight reduction during the first quarter of $165,000 from December 31, 2006 with a balance at March 31, 2007 of $51.6 million. Comparing the balances of March 31, 2006, the Company's loans increased to $7.3 million or 16.6% during the twelve month period. The growth was primarily in real estate secured lending.
Total deposits increased by 4.9% to $83.3 million at March 31, 2007 an increase from $79.5 million at December 31, 2006. Total deposits decreased 0.8% from March 31, 2006's balance of $84.0 million. The Company's core deposits represent 96.8% of the total deposits.
Earnings
The Company posted net interest income of $1,074,278 for the quarter ended March 31, 2007 as compared to $1,095,527 for the quarter ended March 31, 2006. Average interest-earning assets were $81.5 million with average interest-bearing liabilities of $29.0 million yielding a net interest margin of 5.30% for the quarter ended March 31, 2007 as compared to average interest-bearing assets of $81.1 million with average interest-bearing liabilities of $28.2 million yielding a net interest margin of 5.75% for the fourth quarter of 2006.
Non-interest income totaled $211,870 for the first quarter of 2007, or an increase of 38.5% from $152,951 earned during the year ended March 31, 2006. Service charges on deposit accounts increased 37.8% to $177,382 due to increased of overdraft and return item charges.
General and administrative expenses were $937,680 for the three months ended March 31, 2007 as compared to $803,238 for the three months ended March 31, 2006. The largest component of general and administrative expenses was salary and benefits expense of $481,853 for the first quarter of 2007 as compared to $409,178 for the three months ended March 31, 2006. The increase in Salaries and benefits expenses was reflective of salary increases, incentive compensation, and the increase in retirement plan accruals. Other components of general and administrative expenses that affected the increase were Advertising and Marketing expenses which increased by $25,077 for the comparable three month period due to a marketing campaign which the Company entered into during the first quarter. Audit and Professional fees increased $26,531 during the first quarter of 2007 due to additional costs incurred in the purchase of shares from stockholders and an increase in accruals to reflect timely recognition of audit and professional fees incurred during the first quarter. Other expenses increased by $19,423 for the comparable three month period due primarily due to increased Reserve for Undisbursed Credits of $11,281.
Income tax expense was $104,791 for the three months ended March 31, 2007 as compared to $171,959 for the three months ended March 31, 2006. The effective income tax rate for 2007 and 2006 is approximately 39%.
Forward-Looking Statements
The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about the Bank's plans, objectives, management's expectations, intentions, relationships, opportunities, and technology and market condition statements. When used in these presentations, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," or words of similar meaning, or future or conditional verbs, such as "will," "would," "should," "could," or "may" are generally intended to identify forward-looking statements. These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change.
Actual results may differ from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties. These include, but are not limited to, the following risks; (1) changes in performance of the financial markets; (2) changes in the demand for and market acceptance of Chino Commercial Bancorp's products and services; (3) changes in general economic conditions including interest rates, presence of competitors with greater financial resources, and the impact of competitive products and pricing; (4) the effect of the Company's policies; (5) the continued availability of adequate funding sources.
The Bank is not obligated to update and does not undertake to update any of its forward-looking statements made herein.
Contact: Dann H. Bowman, President and CEO or Sandra F. Pender, Vice President and CFO, Chino Commercial Bank, N.A., 14345 Pipeline Avenue, Chino, Ca. 91710, (909) 393-8880
.
CHINO COMMERCIAL BANCORP
STATEMENTS OF FINANCIAL CONDITION
March 31, 2007 and December 31, 2006
2007
2006
ASSETS:
(unaudited)
Cash and Due from Banks
$
4,367,398
$
4,201,391
Federal Funds Sold
16,460,000
10,775,000
Cash and Cash equivalents
20,827,398
14,976,391
Interest-bearing deposits at banks
1,246,000
2,541,000
Investment Securities available for sale
10,002,655
11,839,152
Investment Securities held to maturity (fair value approximates
$4,481,000 at March 31, 2007 and $4,696,000 at December 31, 2006)
4,567,602
4,784,277
Total investments
15,816,257
19,164,429
Loans
Construction
1,378,718
1,925,067
Real estate
38,017,981
37,521,967
Commercial
11,377,458
11,655,290
Installment
834,359
670,765
Unearned fees and discounts
(141,275
)
(136,046
)
Allowance for loan losses
(681,701
)
(615,808
)
Total Loans
50,785,540
51,021,235
Restricted stock
633,600
627,500
Fixed Assets, net
2,196,841
2,222,503
Accrued Interest Receivable
303,165
385,764
Prepaid & Other Assets
2,135,968
2,076,976
Total Assets
$
92,698,769
$
90,474,798
LIABILITIES:
Deposits
Non-interest Bearing
$
56,268,332
$
53,845,147
Interest Bearing
NOW and Money market
21,631,577
19,907,277
Savings
908,790
1,001,135
Time deposits less than $100,000
1,893,123
1,818,235
Time deposits of $100,000 or greater
2,647,015
2,882,341
Total Deposits
83,348,837
79,454,135
Accrued Interest Payable
65,279
61,477
Accrued Expenses & Other Payables
438,495
412,745
Subordinated Debentures
3,093,000
3,093,000
Total Liabilities
86,945,611
83,021,357
STOCKHOLDERS' EQUITY
Common Stock, authorized 10,000,000 shares with no par value, issued
and outstanding 722,468 shares and 808,214 shares at March 31, 2007
and December 31, 2006, respectively.
3,122,637
5,022,984
Retained earnings
2,685,156
2,507,373
Accumulated other comprehensive loss
(54,635
)
(76,916
)
Total Equity
5,753,158
7,453,441
Total Liabilities & Equity
$
92,698,769
$
90,474,798
CHINO COMMERCIAL BANCORP
STATEMENTS OF OPERATIONS
(unaudited)
For the Quarter Ended
March 31, 2007
March 31, 2006
Interest Income
Interest Income - Securities
$
191,235
$
286,680
Interest Income - Fed Funds
116,830
77,874
Interest and fee income on Loans
977,172
811,179
Total Interest Income
1,285,237
1,175,733
Interest Expense
Interest Expense - Deposits
159,696
79,906
Interest Expense - Other Borrowings
51,263
300
Total Interest Expense
210,959
80,206
Net interest income
1,074,278
1,095,527
Provision for loan losses
65,893
8,750
Net interest income after
provision for loan losses
1,008,385
1,086,777
Non-interest income
Service Charges on Deposit Accounts
177,682
128,948
Other miscellaneous fee income
9,110
3,128
Dividend Income from Restricted Stock
8,875
6,194
Income from Bank Owned Life Insurance
16,203
14,681
Total Non-interest income
211,870
152,951
General & Administrative Expenses
Salaries & Benefits
481,853
409,178
Occupancy & Equipment
93,241
104,639
Data & Item Processing
66,590
63,050
Advertising & Marketing
39,526
14,449
Audit & Professional fees
70,353
43,822
Insurance
6,358
6,144
Directors' fees and expenses
20,451
22,071
Other expenses
159,308
139,885
Total general & administrative expenses
937,680
803,238
Income before income tax expense
282,575
436,490
Income tax expense
104,791
171,959
Total income
$
177,784
$
264,531
Basic Earnings per share
$
0.23
$
0.32
Diluted Earnings per share
$
0.21
$
0.30
See accompanying notes to the financial statements.
CHINO COMMERCIAL BANCORP
Selected Financial Highlights
For the Quarter Ended
March 31, 2007
March 31, 2006
Selected Operating Data:
(unaudited)
Net interest income
$
1,074,278
$
1,081,927
Provision for loan losses
65,893
8,750
Non-interest income
211,870
146,757
Non-interest expense
937,680
803,238
Net income
177,784
264,531
Share Data:
Basic income per share
$
0.23
$
0.32
Diluted Income per share
$
0.21
$
0.30
Weighted average common shares outstanding
Basic
722,468
818,453
Diluted
834,495
883,992
Performance Ratios:
Return on average assets
0.82
%
1.22
%
Return on average equity
10.53
%
15.38
%
Equity to total assets at the end of the period
6.21
%
7.33
%
Net interest spread
2.54
%
4.56
%
Net interest margin
5.27
%
5.61
%
Average interest-earning assets to
average-bearing liabilities
281.51
%
354.51
%
Core efficiency ratio
72.91
%
64.29
%
Non-interest expense to average assets
4.32
%
3.69
%
Selected Balance Sheet Data:
March 31, 2007
December 31, 2006
Total assets
$
92,698,769
$
90,474,798
Investment securities held to maturity
4,567,602
4,784,277
Investment securities available for sale
10,002,655
11,839,152
Loan receivable, net
51,608,516
51,021,235
Deposits
83,348,837
79,454,135
Non-interest bearing deposits
56,268,332
53,845,147
Stockholders' equity
5,753,158
7,453,441
Regulatory capital ratios:
Average equity to average assets
7.77
%
8.16
%
Leverage capital
10.47
%
11.05
%
Tier I risk based
14.23
%
15.89
%
Risk-based capital
16.14
%
16.92
%
Asset Quality Ratios:
Allowance for loan losses as a percent
of gross loans receivable
1.32
%
1.24
%
Net charge-offs to average loans
n/a
n/a
Non-performing loans to total loans
n/a
n/a
Number of full-service customer facilities
2
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
April 24, 2007
By:
/s/ Sandra F. Pender
Sandra F. Pender
Vice President and Chief Financial Officer