BROWARD BANK OF COMMERCE ANNOUNCES STRONG Q2 RESULTS

FOR IMMEDIATE RELEASE
Fort Lauderdale, Florida, United States of America (Free-Press-Release.com) July 26, 2011 -- FT. LAUDERDALE, FL (July 26, 2011) - Keith Costello, President/CEO of Broward Bank of Commerce (BBOC) announced to investors that BBOC has exceeded financial expectations for the second quarter of 2011 in the key areas of lending, deposits, assets and net income.

Q1 results are as follows:

Assets: Assets of $117 million, a 40% growth in one year (compared to $84 million in assets Q2 2010) )
Deposits: Net deposits increased by more than 45% since this same time last year reaching $102 million.

Lending: High performing loan portfolio of $73 million increased by 41% since the same period last year.
Net Income: Year to date net income increased substantially year over year –from a loss of $539 thousand in June 2010 to a profit of $314 thousand for the first 6 months of this year..

“As one of the last new bank charters granted in the United States, we are proud to be able to offer strong results to our shareholders. They believed in us as and wrote checks to buy our stock at the same time some of the biggest financial institutions in America were collapsing.” says Costello. “I am as proud of them as I am of the people who work at our bank and take such great care of our customers. Continued profitability along with the capital we recently received from the US Treasury’s Small Business Lending Fund, will allow us to continue to serve our niche of small to midsized businesses.”

With these positive achievements and continued growth, BBOC is uniquely positioned to serve the specialized needs of the business and professional community within South Florida in a private banking style.

About Broward Bank of Commerce:

Broward Bank of Commerce was developed with the unique needs of small to mid-size businesses in mind. Cutting-edge technologies and unique product offerings, which include remote deposit capture, cash management, ACH and lockbox capabilities accessible directly from the customer’s desktop, are particularly appealing to small and mid size business owners as these amenity type services are typically available only to large corporations. These exclusive services will enable small to mid-sized local businesses to significantly increase productivity and ensure cost efficiencies. For more information about Broward Bank of Commerce, visit the website at www.browardbankofcommerce.com.

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