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Frontier Community Bank Reports Results for Third Quarter

Frontier Community Bank today announced net income of $1,835,678 for the nine months ended September 30, 2008 with $323 million in total assets and net loans of $265 million. Chairman and CEO, Andrew Montgomery said, “Through the steady leadership of management and guiding influence of one of the most talented and experienced Board of Directors of any community bank in the United States, Frontier Community Bank has thrived during these difficult economic times. While our earnings in 2008 are not as strong as we would like, we fully anticipate that current initiatives will provide for growth in earnings, assets and shareholder value next year and in years to come.”

In addition to Andrew Montgomery, Frontier Community Bank’s Board of Directors include such business luminaries as spokesman Merlin Olsen; retired Chairman of First Boston and current Board Member to Eisenhower Medical Center, Alvin Shoemaker; former Senator and current Board member to the Federal Home Loan Bank of Topeka, Kansas, Senator David Karnes; senior consultant to Roy Disney’s Shamrock Holdings, Clifford Miller; retired CEO of Great Western Bank, James Montgomery; retired CEO of America’s Community Bankers and the New York League of Savings Institutions, Paul Schosberg; senior partner in the Washington D.C. practice of Nixon Peabody, Raymond Gustini; CEO of Sunrise Company’s William Bone; President of Utah operations, F. Marc Estabrook and local real estate expert, Sam Spinello.

With three branches in Palm Desert, one in Park City and one in Salt Lake City, Utah, Frontier Community Bank continues to be a “Well Capitalized” bank with a core capital ratio of 8.22% and a risk-adjusted capital ratio of 11.76%. Non-performing loans represented 1.04% of the total loan portfolio. Utah branches operate under the name Frontier Bank, FSB.