COMMUNITY BANK OF BERGEN COUNTY, NJ REPORTS FOURTH QUARTER NET INCOME OF $0.23 PER SHARE Net Income Increases Significantly Over 2009

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1 COMMUNITY BANK OF BERGEN COUNTY, NJ REPORTS FOURTH QUARTER NET INCOME OF $0.23 PER SHARE 2010 Net Income Increases Significantly Over 2009 ROCHELLE PARK, N.J., January 25, 2011 Community Bank of Bergen County, NJ (OTCBB: CMTB) reported earnings today for the fourth quarter of Net income this quarter increased by $1,152,000 to $383,000, or $0.23 per diluted share, as compared to a loss of $769,000, or ($0.46) per diluted share, for the fourth quarter of For the 12 months ended December 31, 2010, Community Bank of Bergen County (CBBC or the Bank) reported net income of $2,022,000, up significantly from the $94,000 reported for the 12 months ended December 31, The increase in net income for the quarter ended December 31, 2010, was due largely to the realized net gain of $423,000 on the sale of two of the Bank s properties, in addition to a continued reduction in interest expense of $149,000 and increased interest income of $118,000, as compared to the prior year s period. Other factors resulting in an increase in net income for the quarter include a $750,000 decrease in the loan loss provision (from $1,450,000 to $700,000) offset by the $12,000 lower service charge fee income (from $128,000 to $116,000) in this quarter, as compared to the fourth quarter of Additionally, total non-interest expenses decreased by $37,000 as compared to the fourth quarter Income tax expense increased by $310,000 from a tax benefit of $223,000 in the quarter ended December 31, 2009, to a tax expense of $87,000 for the quarter ended December 31, For the 12 months ended December 31, 2010, the increase in net income was due in part to a $1,436,000 reduction in interest expense, which led to a $1,099,000 increase in net interest income. In addition, there was a $655,000 decrease in the loan loss provision (from $1,930,000 to $1,275,000), net gain on the sale of three Bank properties (totaling $733,000), and a significant tax adjustment during the quarter ended March 31, 2010 which resulted in a $321,000 tax benefit (as compared to a $245,000 benefit for the prior year s period). The decrease in interest expense was generally due to a reduction in rates, as well as in our average deposit balances for the twelve months ended December 31, 2010 (decreasing by $1.28 million from our average deposit balances for the 2009 period). The increases in net interest income, the gain from the property sales and the increased tax benefit were partially offset by a $236,000 loss on the sale of OREO property and a $233,000 increase in expenses for premises and fixed assets due to the full year effect of the Bank s residence in its new operations center.

2 We are pleased with our increased operating earnings compared to last year, said Peter A. Michelotti, President and CEO of CBBC. Core operating earnings, without the one-time gains and losses, were much improved from a year ago. We expect, however, that the increased cost of regulatory compliance in 2011 will keep pressure on the bottom line. Effective cost management will continue to be a focus in the year ahead. Asset growth continues with a 2.4 percent increase from $302,327,000 at December 31, 2009, to $309,598,000 at December 31, The Bank s Tier 1 leverage ratio and risk based capital ratios continue to increase steadily, to 8.52 percent and percent, respectively. The Bank s capital closed at $26,362,000 at December 31, 2010, with book value per share at $15.84 as compared to $15.12 at December 31, About Community Bank of Bergen County Established in 1928, Community Bank of Bergen County, NJ (CBBC) serves the northern New Jersey community with four locations in Rochelle Park, Maywood, Fair Lawn and Garfield. Dedicated to superior service, the bank offers a range of customized personal and business banking products and the convenience of 24-hour ATMs and online banking. With lending decisions made locally, and a responsive management team, Community Bank of Bergen County is committed to providing an exceptional banking experience. For more information visit the Bank s web site at

3 COMMUNITY BANK OF BERGEN COUNTY, NJ AND SUBSIDIARY CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION AS OF: December 31, 2010 December 31, 2009 Assets Dollars in Thousands Dollars in Thousands Cash and balances due from depository institutions: Non-interest-bearing balances and currency and coin... $4,899 $4,637 Interest-bearing balances... 12,384 19,396 Securities Held-to-maturity securities... 41,277 38,798 Available-for-sale securities... 14,081 7,088 Federal funds sold... 2,000 2,010 Loans and lease financing receivables: Loans and leases, net of unearned income... $223,604 $219,176 LESS: Allowance for loan and lease losses... 3,335 3,076 Loans and leases, net of allowance , ,100 Premises and fixed assets (including capitalized leases)... 7,404 8,128 Other Real Estate Owned Other assets... 6,680 6,139 Total Assets... $309,598 $302,327 Liabilities Deposits: Interest-bearing... $236,186 $224,897 Non-interest-bearing... 45,234 49,846 Total deposits... $281,420 $274,743 Other liabilities... 1,816 2,416 Total Liabilities , ,159 Equity Capital Common Stock (1,800,000 shares authorized, $5 par value; 1,664,374 outstanding at December 31, 2010 and ,640 8,640 Surplus... 3,968 3,968 Treasury Stock... (1,501) (1,501) Stock Options Retained earnings... 15,084 13,878 Accumulated other comprehensive income Total Equity Capital... 26,362 25,168 Total Liabilities, and Equity Capital... $309,598 $302,327 Capital Ratios: Tier 1 leverage ratio 8.52% 8.23% Tier 1 risk-based capital ratio 11.97% 11.81% Total risk-based capital ratio 13.23% 13.06%

4 COMMUNITY BANK OF BERGEN COUNTY, NJ AND SUBSIDIARY CONSOLIDATED STATEMENTS OF INCOME Quarter Ended Twelve Months Ended December 31, December 31, Income Statement Dollars in Thousands Dollars in Thousands Interest and fee income: Interest and fee income on loans... $3,477 $3,338 $13,514 $13,720 Interest income on balances due from depository institution Interest and dividend income on securities ,235 1,333 Interest on federal funds sold Other interest income Total Interest and fee income... 3,798 3,680 14,805 15,142 Interest Expense: Interest on deposits ,093 3,805 5,241 Total Interest expense ,093 3,805 5,241 Net Interest Income... 2,854 2,587 11,000 9,901 Provision for Loan Losses ,450 1,275 1,930 Non-Interest Income: Service charges on deposit accounts Net servicing fees Net Losses on sale of OREO (236) 0 Net Gains on sale of Assets Other non-interest income Total non-interest income , Realized gains (losses) on securities Non-interest expenses Salaries and employee benefits... 1,121 1,090 4,451 4,377 Expenses on premises and fixed assets ,635 1,402 Other non-interest expenses ,167 3,167 Total non-interest expenses... 2,291 2,328 9,253 8,946 Income before Income taxes: (992) 1,701 (151) Income taxes (benefit) (223) (321) (245) Net Income... $383 $(769) $2,022 $ 94 Earnings per Share. $0.23 $(0.46) $1.21 $0.06

5 Forward-Looking Statements This press release and other statements made from time to time by Community Bank of Bergen County's management contain express and implied statements relating to our future financial condition, results of operations, credit quality, corporate objectives, capital, liquidity and other financial and business matters, which are considered forward-looking statements. These forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from those expected or implied by such forward-looking statements. Risks and uncertainties which could cause our actual results to differ materially and adversely from such forward-looking statements include the current economy of the country in general and how it is affecting the financial industry specifically; volatility in interest rates and the shape of the yield curve; increased credit risks and risks associated with the real estate market; the potential for increased non-performing loans; operating, legal, and regulatory risk; economic, political, and competitive forces affecting the company's lines of business; the extent and timing of actions of the Federal Reserve Board; customer acceptance of our products and services; and other risks and uncertainties. Any statements made that are not historical facts should be considered to be forward-looking statements. You should not place undue reliance on any forward-looking statements. We undertake no obligation to update forward-looking statements or to make any public announcement when we consider forward-looking statements to no longer be accurate, whether as a result of new information or the occurrence of future events, except as may be required by applicable law or regulation. Media Contacts: Peter A. Michelotti President and CEO, Community Bank of Bergen County, NJ (201) investorrelations@cbbcnj.com