WCBH WCB Holdings Inc (GM)

WCB Holdings, Inc. (OTCBB: WCBH), located at 21550 Oxnard Street, Suite 100, Woodland Hills, California, announced its third quarter of 2008 financial results. Through September 30, 2008, the Company and the Bank have continued to experience healthy growth in total assets, loans and deposits. The Company's total assets grew 35% from $91.4 million at December 31, 2007 to $123.2 million at September 30, 2008. For the same period, total loans grew 31% from $76.1 million to $99.2 million and total deposits increased 37% from $78.5 million to $107.7 million. For the quarter and year-to-date (nine months) ended September 30, 2008, the holding company recorded net losses of $582,000 and $526,000, respectively, as compared to last year's losses of $111,000 and $671,000 for the same reporting periods. The net loss incurred in the third quarter resulted from increased loan loss provisions of $470,000 and loss of loan interest income due to nonaccrual loans. The Company also recognized $22,000 in warrants expense for the nine-month ended September 30, 2008.

It is Management's intention to keep the additional loan loss provision to cover future credit exposure. The net provision will increase the loss reserve as to total loans to 1.38% (or 1.51% of total loans, net of cash secured and government guaranteed loans), which Management considers prudent in this economy.

Western Commercial Bank, a wholly-owned subsidiary of WCB Holdings, Inc. recognized $50,000 and $449,000 in non-cash stock option compensation expenses, and provided $470,000 and $720,000 in loan loss provision for the quarter and year-to-date (nine months) ending September 30, 2008.

Carl W. Raggio, III, President and CEO, said, "The economy has weakened significantly and we feel it is prudent to increase the loan loss reserves as a cushion for unforeseen losses that may be caused by the current economic predicament. The actions taken by the Treasury Department are unprecedented and indicate caution for the next two years. I am very proud to have a very strong management team which has extensive experience in difficult economic times.

"During the course of the last two months, we have seen strong growth and opportunity for clients who are seeking locally-owned and managed banks. Because of the recent financial crisis, many clients are looking for a bank with a solid balance sheet, a focus on the market and the ability to deliver consistently. This growth has been significant both in terms of deposits and loans.

"We believe we have a strong loan portfolio and an excellent base of clients. For that reason, we see great opportunity in the market and are committed to meeting the needs of our clients and the market in all respects, as we face the challenges of the next few years."

The Bank offers a comprehensive selection of business deposit and loan products, cash management services as well as SBA-guaranteed loans. The Bank is not involved in any of the sub-prime products.

The Bank provides financial services to small and mid-sized businesses, entrepreneurs and professionals in the San Fernando Valley, with special expertise in commercial real estate finance.

Regular office hours are Monday through Friday, 9:00 a.m. until 4:00 p.m.

Information on the Bank's services is available by calling (818) 449-7700 and online at www.westerncommercialbank.com. Information on the Bank's stock may be obtained from Carl W. Raggio, III, President and Chief Executive Officer, at (818) 449-7700. The stock trades on the OTC Bulletin Board.

Contact: Carl Raggio President & Chief Executive Officer (818) 449-7711 WCB Holdings, Inc. 21550 Oxnard Street, Suite 100 Woodland Hills, CA 91367