Coronado First Bank reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For quarter, the company reported total interest income of $1,379,000, net interest income after provision for loan losses of $106,000, income before income taxes of $907,000, net loss of $907,000 or $0.65 per basic and diluted share compared with total interest income of $1,327,000, net interest income after provision for loan losses of $873,000, income before income taxes of $39,000, net loss of $38,000 or $0.03 per basic and diluted share over the same period last year. Net interest income was $952,000 as compared to $921,000 for the same period prior year. The loss included $846,000 in additions to Loan Loss Provisions and extraordinary items of $118,000 relating primarily to FDIC assessments. Total revenue increased by 29% for the nine months ended September 30, 2009 compared to 2008. For the nine months, the company reported total interest income of $3,874,000, net interest income after provision for loan losses of $1,625,000, loss before income taxes of $1,017,000, net loss of $1,018,000 or $0.73 per basic and diluted share compared with total interest income of $2,982,000, net interest income after provision for loan losses of $1,777,000, loss before income taxes of $350,000, net loss of $351,000 or $0.25 per basic and diluted share over the same period last year. Net interest income was $2,677,000 as compared to $1,918,000 for the same period prior year.

Coronado First Bank reported unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net income of $38,000 or $0.03 per basic and diluted share on total interest income of $1,327,000 compared to net loss of $149,000 or $0.11 per basic and diluted share on total interest income of $1,168,000 for the same period a year ago. The company reported income before income taxes of $39,000 and net interest income after provision for loan losses of $873,000 compared to loss before income taxes of $149,000 and net interest income after provision for loan losses of $646,000 for the same period a year ago. For the six months, the company reported net loss of $111,000 or $0.08 per basic and diluted share on total interest income of $2,495,000 compared to net loss of $206,000 or $0.15 per basic and diluted share on total interest income of $1,971,000 for the same period a year ago. The company reported loss before income taxes of $110,000 and net interest income after provision for loan losses of $1,519,000 compared to loss before income taxes of $205,000 and net interest income after provision for loan losses of $1,163,000 for the same period a year ago. The company provided earnings guidance for the year 2009. The company expects to produce profitable results for 2009.

The board of directors of Coronado First Bank has nominated Thomas A. Page, the former President and CEO of San Diego Gas & Electric Company, to serve on the Bank's Board. If elected at the Bank's annual meeting on July 30th, Mr. Page would fill the Board seat being vacated by San Diego Mayor Jerry Sanders. Mr. Sanders has been a Director of Coronado First Bank since its founding in 2005.