Cornerstone Community Bancorp, (OTCQB: CRSB), parent company of Cornerstone Community Bank, announced today the completion of a private placement of $5 million of subordinated debt to StoneCastle Financial Corp. StoneCastle Financial Corp. is a closed-end investment company established to serve as an investor in community banks seeking capital for organic growth, acquisitions, share repurchases and other refinancing activities. The subordinated debt is expected to qualify as Tier 2 capital for regulatory purposes.

“We are excited to announce the completion of this capital raise,” said Jeff Finck, President and CEO of the Company. “This additional capital will allow us to meet the growing demand for local loans and it will also increase our lending capacity to individual borrowers. We will now be able to lend up to $5 million to a single commercial borrower. This additional lending capacity positively impacts our local economy facilitating job creation and economic growth.”

About Cornerstone Community Bancorp

Cornerstone Community Bancorp, a bank holding company headquartered in Red Bluff, California, serves the Red Bluff and Redding communities through its wholly-owned subsidiary, Cornerstone Community Bank with a headquarters office in Red Bluff and a banking office in Redding. The Bank provides commercial banking services to small and mid-size businesses, including professional service firms, real estate developers and investors and not-for-profit organizations and to their owners and other individuals. At December 31, 2014, Cornerstone Community Bank had total assets of $149.2 million, total loans of $124.5 million and total deposits $134.9 million. Additional information about the Bank is available on its website at www.bankcornerstone.com.

Important Information

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. The securities sold have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements that involve risk and uncertainties. These statements are identifiable by use of the words “believe,” “expect,” “intend,” “anticipate,” “plan,” “estimate,” “project,” or similar expressions. The risks and uncertainties that may affect the operations, performance, development, growth projections and results of the Company’s business include, but are not limited to, the growth of the economy, interest rate movements, changes in the financial performance and/or condition of our loan and deposit customers, changes in the levels of performing and nonperforming assets and charge-offs, timely development by the Company of technology enhancements for its products and operating systems, the impact of competitive products, services and pricing, acts of war or terrorism, or natural disasters, such as earthquakes, client-based requirements, federal and state legislation and regulatory developments, the ability to retain or increase market share, retain or grow customers and control expenses, changes in regulatory or generally accepted accounting principles and similar matters. Readers are cautioned not to place undue reliance on forward-looking statements which are subject to influence by the named risk factors and unanticipated future events. Actual results, accordingly, may differ materially from management expectations. The Company undertakes no obligation to update such forward-looking statements except as required by law.

Cornerstone Community BancorpJeffrey P. Finck, 530-222-1460President & CEOjfinck@bankcornerstone.comorPatrick E. Phelan, 530-222-1460Chief Financial Officerpphelan@bankcornerstone.com

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