CMFB Commercefirst Bancorp (MM)

ANNAPOLIS, Md., Oct. 30 /PRNewswire-FirstCall/ -- CommerceFirst Bancorp, Inc., (NASDAQ:CMFB), the parent company of CommerceFirst Bank, today released financial results for its 3rd quarter 2006 operations, as follows: CommerceFirst Bancorp, Inc., the holding company for CommerceFirst Bank, reported a consolidated net profit of $940 thousand for the nine-month period ended September 30, 2006. This reflected a 27.5% increase over the $737 thousand earned for the nine-month period ended September 30, 2005. The Company reported a net profit of $371 thousand for the three-month period ended September 30, 2006 as compared to a net profit of $350 thousand for the three-month period ended September 30, 2005. These results are attributable to increased loans outstanding and an improved net interest margin. Three Nine Months Months 2006 2005 2006 2005 Revenues $2,297,628 $1,739,390 $6,270,992 $4,389,968 Earnings before income tax 598,941 584,424 1,486,903 1,229,660 Income tax (1) 228,126 234,265 546,874 492,265 Net earnings 370,815 350,159 940,029 737,395 Earnings per basic share $0.20 $0.19 $0.52 $0.46 Earnings per diluted share $0.19 $0.19 $0.51 $0.46 Average basic shares outstanding 1,803,583 1,803,583 1,803,583 1,595,095 Average diluted shares outstanding 1,847,426 1,829,431 1,846,126 1,617,325 (1) Includes federal and state income taxes. Our plans for the balance of 2006 include exploration of potential future branch sites, consideration of possible additions to our lending and business development teams, and appropriate investment in our operational infrastructure on both the loan and deposit sides to insure our ability to deliver a very high quality performance consistently to our customer base. Forward Looking Statements. This press release includes forward looking statements within the meaning of Section 21(e) of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations and estimates as to prospective events and circumstances that may or may not be in the Company's control and as to which there can be no firm assurances given. These forward looking statements are subject to risks and uncertainties; there can be no assurance that any of these forward looking statements may prove to be correct and actual results may differ materially. DATASOURCE: CommerceFirst Bancorp, Inc. CONTACT: Richard J. Morgan, President and Chief Executive Officer of CommerceFirst Bancorp, Inc., +1-410-280-6695 Web site: http://www.commerce1st.com/

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