Commercial Capital Bancorp (CCBI) 8-K Results of Operations and Financial Condition

Contact:	Stephen H. Gordon	Chairman & CEO	Telephone: (949) 585-7500
	Christopher G. Hagerty	EVP & CFO	Facsimile:  (949) 585-0174

COMMERCIAL CAPITAL BANCORP, INC. ANNOUNCES THIRD QUARTER EARNINGS OF $0.29 PER SHARE ON NET INCOME OF $16.8 MILLION AND NON-GAAP EARNINGS OF $0.32 PER SHARE ON NET INCOME OF $18.5 MILLION, EXCLUDING COSTS RELATED TO NEW COMMERCIAL BANKING DIVISION

– Net Interest Margin Increases Three Basis Points to 3.31% from Second Quarter 2005 –
– Net Interest Margin, Excluding Purchase Accounting Adjustments, Increases Five Basis
Points to 3.22% from Second Quarter 2005 –

– Company Deposits Increase $63 million from Second Quarter 2005 –
– Bank Deposits Increase $52 million from Second Quarter 2005 –
– Average Exchange Balances of $701 Million for Third Quarter 2005 –
– Previously Announced Low-Rate Single Family Loan Portfolio
Sales Substantially Completed –
– Loan Portfolio and Balance Sheet Growth Anticipated to Increase
Beginning Fourth Quarter –
– Company Approves Cash Dividend of $0.075 per Share –

IRVINE, CA – October 24, 2005 – Commercial Capital Bancorp, Inc. (the “Company”), (NASDAQ: “CCBI”), the holding company for Commercial Capital Bank (the “Bank”), TIMCOR Exchange Corporation (“TIMCOR”) and North American Exchange Company (“NAEC”), announced today net income of $16.8 million, or $0.29 per diluted share, for the third quarter of 2005, a decrease of 6% and 9%, respectively, from $18.0 million and $0.32 per diluted share, for the third quarter of 2004. Excluding the $2.9 million of direct costs associated with the Bank’s new Commercial Banking Division, as discussed below, the Company’s non-GAAP net income totaled $18.5 million, or $0.32 per diluted share, for the third quarter of 2005¹. The Company’s net interest margin expanded three basis points to 3.31% for the third quarter of 2005, from 3.28% for the second quarter of 2005. Excluding the purchase accounting adjustments from the Hawthorne Financial Corporation (“Hawthorne”) acquisition, the Company’s net interest margin expanded five basis points to 3.22% for the third quarter of 2005, from 3.17% for the second quarter of 2005. Additionally, the Company announced today that it has authorized a cash dividend of $0.075 per share to be paid on December 1, 2005 to shareholders of record on November 17, 2005. The Company’s net income for the nine months ended September 30, 2005 totaled $59.2 million, or $1.03 per diluted share, increases of 64% and 23%, respectively, from $36.0 million and $0.84 per diluted share, for the nine months ended September 30, 2004.

The Company’s return on average equity (“ROAE”) and return on average assets (“ROAA”) for the third quarter of 2005 were 9.89% and 1.30%, respectively, compared to 12.02% and 1.50% for the third quarter of 2004, respectively. The Company’s return on average tangible equity and return on average tangible assets for the third quarter of 2005 were 23.93% and 1.41%, respectively, compared to 30.55% and 1.62% for the third quarter of 2004, respectively. The Company’s ROAE and ROAA for the nine months ended September 30, 2005 were 11.93% and 1.52%, respectively, compared to 15.05% and 1.53% for the nine months ended September 30, 2004, respectively. The Company’s return on average tangible equity and return on average tangible assets were 28.75% and 1.64%, respectively, for the nine months ended September 30, 2005, compared to 30.95% and 1.61%, for the nine months ended September 30, 2004, respectively. The Company’s financial results include the effects of the acquisition of Hawthorne, which closed on June 4, 2004. The financial data for periods prior to February 17, 2005 do not include the impact of the TIMCOR acquisition. The financial data for periods prior to May 24, 2005 do not include the impact of the NAEC acquisition.

1/17

Stephen H. Gordon, Chairman and Chief Executive Officer, stated, “This quarter included the expenses related to the investment made in establishing the Company’s previously announced Commercial Banking Division, which is now operational and gaining traction; the effect of the previously announced balance sheet-driven, asset/liability management strategies; and the impact of its two 1031 exchange companies. We are pleased with our third quarter’s non-GAAP results of $0.32 per diluted share, totaling $18.5 million, which exclude the expenses associated with the Commercial Banking Division. With the previously announced sales of lower-rate, held for sale single family loans largely behind us, combined with a strong adjustable rate loan origination pipeline, increased deposit balances, an expanded net interest margin, strong local markets, and strong asset quality, we feel that the Company is well positioned as we head towards 2006 .” Gordon added, “While not straying from the Company’s disciplined approach to asset quality, we believe that by maintaining a keen eye on liability management and building a strong and diverse core deposit franchise in multiple markets and economies across the state, we will further enhance shareholder value.”

	Q3			Q2			Q3			Year to Date			Year to Date
($ in 000’s, except per share data)	2005			2005			2004			9/30/2005			9/30/2004
Net income	$	16,836		$	19,325		$	18,004		$	59,248		$	36,029
Basic EPS		0.30			0.35			0.34			1.08			0.90
Diluted EPS		0.29			0.34			0.32			1.03			0.84
Net interest income		38,265			38,925			37,877			115,525			74,554
Net interest margin		3.31	%		3.28	%		3.49	%		3.29	%		3.42	%
Total revenues	$	73,298		$	71,576		$	60,602		$	210,864		$	120,640
ROAA		1.30	%		1.47	%		1.50	%		1.52	%		1.53	%
ROAA - Tangible		1.41			1.59			1.62			1.64			1.61
ROAE		9.89			11.62			12.02			11.93			15.05
ROAE - Tangible		23.93			28.11			30.55			28.75			30.95
Efficiency ratio		43.47			33.32			30.59			35.77			28.06
Core Loan Fundings2	$	570,196		$	599,303		$	544,953		$	1,764,628		$	1,193,972
Total Loan Fundings3		609,894			624,715			583,184			1,842,433			1,309,246

Some of the Company’s and Bank’s third quarter 2005 highlights and achievements include:

• The Company’s net interest margin increased three basis points to 3.31% for the third quarter of 2005, compared to 3.28% for the second quarter of 2005 and decreased 18 basis points compared to 3.49% for the third quarter of 2004. The Company’s net interest margin, excluding the purchase accounting adjustments from the Hawthorne acquisition, increased five basis points to 3.22% for the third quarter of 2005, compared to 3.17% for the second quarter of 2005 and decreased one basis point compared to 3.23% for the third quarter of 2004. The Company’s net interest spread increased four basis points to 3.16% for the third quarter of 2005, compared to 3.12% for the second quarter of 2005 and decreased 23 basis points compared to 3.39% for the third quarter of 2004. The Company’s yield on interest-earning assets increased 24 basis points to 5.70% for the third quarter of 2005 compared to the second quarter of 2005, while the Company’s cost of funds increased 19 basis points to 2.46%.

• The Company’s total loan fundings, which includes loans originated and purchased, were $609.9 million during the third quarter of 2005, a decrease of 2% and an increase of 5%, respectively, compared to $624.7 million and $583.2 million for the second quarter of 2005 and third quarter of 2004, respectively. The Company’s core loan fundings were $570.2 million during the third quarter of 2005, a decrease of 5% and an increase of 5%, respectively, compared to $599.3 million and $545.0 million for the second quarter of 2005 and third quarter of 2004, respectively.

• The Company entered the fourth quarter of 2005 with a total loan pipeline of $487 million at September 30, 2005, a decrease of 10% from $542 million at June 30, 2005. The Company entered the fourth quarter of 2005 with a core loan pipeline of $478 million at September 30, 2005, a decrease of 7% from $514 million at June 30, 2005.

2/17

• The Company’s multi-family loan portfolio grew during the third quarter of 2005 at an annualized rate of 13% to $2.9 billion at September 30, 2005, and now represents 74% of total loans held for investment. The Company’s commercial real estate loan portfolio grew during the third quarter of 2005 at an annualized rate of 13% to $534.6 million at September 30, 2005, from $518.1 million at June 30, 2005, and now represents 14% of total loans held for investment. During the third quarter of 2005, the Company’s single family loans held for investment portfolio increased approximately $50 million, which was primarily a result of a transfer of certain loans from the held for sale portfolio, as management now intends to hold these loans for investment.

• During the third quarter of 2005, the Company completed the sale of $160.5 million of loans, which included $145.9 million of single family loans that were either classified as held for sale at June 30, 2005 or funded and designated as held for sale during the quarter. At September 30, 2005, the Company’s loans held for sale had declined to $165.8 million, which reflects loan sales, the reclassification to held for investment as discussed above, as well as the loan fundings and payoff activity that occurred during the third quarter of 2005.

• The Company’s allowance for loan losses was 0.73% of net loans held for investment at September 30, 2005, compared to 0.76% at June 30, 2005, and 0.94% at September 30, 2004. Nonperforming assets declined to $8.9 million, or 0.17% of total assets at September 30, 2005, compared to $12.1 million, or 0.23% of total assets at June 30, 2005. At September 30, 2005, the allowance for loan losses totaled 321% of nonaccrual loans, compared to 237% and 723% at June 30, 2005 and September 30, 2004, respectively.

• The Company’s total revenues, defined as interest income plus noninterest income, equaled $73.3 million for the third quarter of 2005, an increase of 2% and 21% from $71.6 million and $60.6 million for the second quarter of 2005 and third quarter of 2004, respectively.

• In July 2005, the Company announced the expansion of its existing Financial Services Group efforts with the formation of the Commercial Banking Division within the Bank, which focuses on the business banking, treasury and cash management and other depository products and services needs of financial services companies such as title and escrow companies, 1031 exchange accommodators, homeowners associations, property management companies, non-real estate escrows and other fiduciary and corporate financial services companies.

• At September 30, 2005, the Company had repurchased a total of 1,868,100 shares of its common stock at an average price of $19.27 per share in accordance with its authorized stock repurchase plans, of which 72,000 shares were repurchased during the third quarter of 2005 at an average price of $18.50 per share. On October 12, 2005, the Company announced that its Board of Directors authorized an additional repurchase program, providing for the repurchase of up to $20 million of the Company’s outstanding shares of common stock. The program will take effect upon completion of the Company’s current stock repurchase program, which was authorized in January 2005. At September 30, 2005, the Company has remaining authorization to repurchase 532,463 shares under its January 2005 approved program.

RECENT DEVELOPMENTS

On October 20, 2005, the Company announced that it had entered into a definitive agreement to acquire Calnet Business Bank, National Association. The all stock transaction is valued at approximately $40 million and is expected to close in the first quarter of 2006. At June 30, 2005, Calnet had total assets of $147.5 million, total deposits of $124.9 million, total loans of $98.3 million and total shareholders’ equity of $21.5 million. Calnet conducts its Greater Sacramento Valley deposit gathering and lending business from a single location in Sacramento. Calnet’s lending programs focus on commercial real estate, construction and business loans within the Greater Sacramento Valley of California. Calnet’s loans to deposits ratio, expressed as a percentage, was 79%, at June 30, 2005. For the second quarter ended June 30, 2005, noninterest-bearing deposits averaged $53.4 million or 42% of average deposits, while interest bearing deposits averaged $74.8 million and had an average cost of 1.93%. Also during the second quarter of 2005, Calnet’s cost of funds, which includes noninterest-bearing deposits, was 1.13%, and its net interest margin was 4.96%. As reported by Calnet, since July 2005, Calnet has operated in compliance with a formal agreement with the Office of the Comptroller of the Currency with respect to matters relating to its internal controls. The Company, as

3/17

part of its overall due diligence, reviewed the regulatory criticisms and Calnet management’s corrective actions. The closing of the Calnet acquisition by the Company is subject to approval by Calnet shareholders and the Office of Thrift Supervision, the Company’s regulator.

NET INTEREST INCOME

The Company’s net interest income increased 1% and 55% to $38.3 million and $115.5 million for the third quarter and nine months ended September 30, 2005, respectively, from $37.9 million and $74.6 million for the third quarter and nine months ended September 30, 2004, respectively.

The Company’s yield on interest-earning assets increased 24 basis points to 5.70% for the third quarter of 2005, compared to 5.46% for the second quarter of 2005 and increased 45 basis points compared to 5.25% for the third quarter of 2004. The Company’s yield on total loans increased 27 basis points to 5.88% for the third quarter of 2005 compared to 5.61% for the second quarter of 2005 and increased 47 basis points compared to 5.41% for the third quarter of 2004. The Company’s cost of interest-bearing liabilities increased 20 basis points to 2.54% for the third quarter of 2005, compared to 2.34% for the second quarter of 2005 and increased 68 basis points compared to 1.86% for the third quarter of 2004. The Company’s cost of interest-bearing deposits increased 36 basis points to 2.64% for the third quarter of 2005, compared to 2.28% for the second quarter of 2005 and increased 107 basis points compared to 1.57% for the third quarter of 2004. The Company’s cost of funds, including the effect of noninterest-bearing deposits, increased 19 basis points to 2.46% for the third quarter of 2005, compared to 2.27% for the second quarter of 2005 and increased 64 basis points compared to 1.82% for the third quarter of 2004.

NONINTEREST INCOME

Noninterest income increased 106% and 115% to $7.4 million and $18.1 million for the third quarter and nine months ended September 30, 2005, respectively, from $3.6 million and $8.4 million for the third quarter and nine months ended September 30, 2004, respectively. Fee income from 1031 exchange transactions totaled $1.6 million and $3.3 million for the third quarter and nine months ended September 30, 2005, respectively. During the third quarter of 2005, the Company substantially completed the previously announced remix of the composition of its loan portfolio by selling $145.9 million of single family residential loans, which contributed to gains on sale of loans of $1.5 million and $4.9 million for the third quarter and nine months ended September 30, 2005, respectively, compared to $72,000 and $214,000 for the third quarter and nine months ended September 30, 2004, respectively. During the third quarter of 2005, the Company recorded $1.0 million of noninterest income related to the release of a litigation reserve held for a matter in which the Company received a favorable ruling from an appeals court.

NONINTEREST EXPENSES

The Company’s general and administrative expenses totaled $19.9 million and $47.8 million for the third quarter and nine months ended September 30, 2005, respectively, compared to $12.7 million and $23.3 million for the third quarter and nine months ended September 30, 2004, respectively. The third quarter of 2005 includes approximately $2.9 million of direct expenses related to the Commercial Banking Division. This included approximately $1.2 million of salaries and benefits and additional non-cash stock compensation expense, directly attributed to the Commercial Banking Division. In addition, the Company recorded $1.7 million of professional and legal costs associated with the start up of this division, as well as with the Company’s defense in the previously disclosed related litigation. The acquisitions of TIMCOR in February 2005 and NAEC in May 2005 also contributed to the increase in general and administrative expenses in the third quarter of 2005 compared to the third quarter of 2004.

The Company’s efficiency ratio was 43.47% and 35.77% for the third quarter and nine months ended September 30, 2005, respectively, compared to 30.59% and 28.06% for the third quarter and nine months ended September 30, 2004, respectively. Excluding the costs associated with the Commercial Banking Division, the Company’s efficiency ratio would have been 37.04%, for the third quarter ended September 30, 2005. General and administrative expenses were 1.53% and 1.22% of average assets for the third quarter and nine months ended September 30, 2005, respectively, compared to 1.05% and 0.99% for the third quarter and nine months ended September 30, 2004, respectively. Excluding the costs associated with the Commercial Banking Division, general and administrative expenses were 1.30% of average assets for the third quarter ended September 30, 2005.

4/17

INCOME TAXES

The Company’s effective tax rate was 34.42% and 36.59% for the third quarter and nine months ended September 30, 2005, respectively, compared to 37.04% and 38.10% for the third quarter and nine months ended September 30, 2004, respectively. The reduction of the Company’s effective tax rate during the periods ended September 30, 2005 compared to the year ago periods reflects the realization of larger amounts of low income housing and other tax credits, the anticipation of additional tax credits to be received before the end of 2005, and the origination of income property loans in enterprise zones that generate certain state tax benefits.

BALANCE SHEET AND CAPITAL

The Company’s total consolidated assets increased to $5.24 billion at September 30, 2005, compared to $5.18 billion and $4.97 billion at June 30, 2005 and September 30, 2004, respectively. Total loans, which include loans held for investment, net of allowances, and loans held for sale, totaled $4.07 billion, compared to $4.05 billion and $3.88 billion at June 30, 2005 and September 30, 2004, respectively.

At September 30, 2005, multi-family loans held for investment totaled $2.90 billion, representing 74% of total loans held for investment, an increase of 3% and 30% from $2.81 billion at June 30, 2005, and $2.24 billion at September 30, 2004, respectively. At September 30, 2004, multi-family loans represented 57% of total loans held for investment. At September 30, 2005, the Company’s commercial real estate loan portfolio totaled $534.6 million, representing 14% of total loans held for investment, an increase of 3% and 23% from $518.1 million at June 30, 2005, and $435.1 million at September 30, 2004, respectively. At September 30, 2004, commercial real estate loans represented 11% of total loans held for investment.

At September 30, 2005, 58% of the Company’s total loan portfolio matures or is tied to an index that adjusts within one month, virtually unchanged from June 30, 2005. In addition, 69% of the Company’s total loan portfolio matures or has an interest rate scheduled to reset within six months from September 30, 2005 and 72% matures or resets within one year from September 30, 2005, both virtually unchanged from June 30, 2005. The Company’s total loan portfolio had a weighted average duration to maturity or reset of 11.6 months at September 30, 2005, compared to 11.8 months at June 30, 2005.

The Company’s securities portfolio totaled $408.3 million at September 30, 2005, a decrease of 8% and 16% from $444.5 million and $486.2 million at June 30, 2005 and September 30, 2004, respectively. Mortgage-backed securities were 8% of total assets at September 30, 2005.

The Bank’s deposits totaled $2.76 billion at September 30, 2005, an increase of 2% and 19% from $2.70 billion and $2.32 billion at June 30, 2005 and September 30, 2004, respectively. The Bank’s transaction account deposits totaled $1.70 billion at September 30, 2005, an increase of 3% and 41% from $1.65 billion and $1.20 billion at June 30, 2005 and September 30, 2004, respectively. The exchange balances of TIMCOR and NAEC are classified as borrowings on the consolidated balance sheet, and included as transaction account deposits on the Bank’s balance sheet. The Company had average exchange balances of $700.8 million for the third quarter of 2005, an increase of 30% from $539.2 million for the second quarter of 2005, the increase reflects the impact of the first full quarter since the acquisition of NAEC. The Company’s consolidated deposits totaled $2.10 billion at September 30, 2005, compared to $2.03 billion and $2.30 billion at June 30, 2005 and September 30, 2004, respectively. The Company’s consolidated transaction account deposits totaled $1.04 billion at September 30, 2005, compared to $977.3 million and $1.19 billion at June 30, 2005 and September 30, 2004, respectively. The Company’s time deposits totaled $1.06 billion at September 30, 2005, and June 30, 2005 compared to $1.11 billion at September 30, 2004.

Borrowings totaled $2.41 billion at September 30, 2005, compared to $2.42 billion and $2.02 billion at June 30, 2005 and September 30, 2004, respectively. FHLB advances totaled $1.51 billion at September 30, 2005, compared to $1.52 billion and $1.83 billion at June 30, 2005 and September 30, 2004, respectively. At September 30, 2005, the Company’s junior subordinated debt issued to its unconsolidated trust subsidiaries totaled $150.1 million, compared to $150.3 million at June 30, 2005, and $135.2 million at September 30, 2004.

Stockholders’ equity totaled $680.7 million at September 30, 2005, an increase of 2% and 12% from $668.5 million and $608.7 million at June 30, 2005, and September 30, 2004, respectively. Tangible stockholders’ equity totaled $281.2 million, an increase of 5% and 15% from $268.8 million and $245.2 million at June 30, 2005, and September

5/17

30, 2004, respectively. The Company’s equity to assets and tangible equity to assets ratios were 13.00% and 5.37% at September 30, 2005, respectively, compared to 12.90% and 5.19% at June 30, 2005, respectively, and compared to 12.26% and 4.94% at September 30, 2004, respectively. The Company’s tangible equity to tangible assets ratio was 5.82% at September 30, 2005, compared to 5.62% and 5.33% at June 30, 2005 and September 30, 2004, respectively.

Book value per share totaled $12.23 at September 30, 2005, an increase of 1% and 9% from $12.07 and $11.20 at June 30, 2005, and September 30, 2004, respectively. Tangible book value per share totaled $5.05 at September 30, 2005, an increase of 4% and 12% from $4.85 and $4.51 at June 30, 2005, and September 30, 2004, respectively. The capital ratios of the Bank continued to exceed federal regulatory requirements for classification as a “well-capitalized” institution. The Bank’s core, tier one risk-based and total risk-based capital ratios are estimated to be 8.91%, 11.93% and 12.73% at September 30, 2005, respectively.

LOAN FUNDINGS

The Company’s total loan fundings, which includes loans originated and purchased, were $609.9 million during the third quarter of 2005, a decrease of 2% and an increase of 5% from $624.7 million and $583.2 million, for the second quarter of 2005 and third quarter of 2004, respectively. The Company’s core loan fundings were $570.2 million during the third quarter of 2005, a decrease of 5% and an increase of 5% from $599.3 million and $545.0 million, for the second quarter of 2005 and third quarter of 2004, respectively. The Company purchased $10 million of adjustable rate income property loans and construction loans during the third quarter of 2005. The Company’s total loan fundings increased 41% to $1.84 billion during the nine months ended September 30, 2005, from $1.31 billion for the nine months ended September 30, 2004. The Company’s core loan fundings increased 48% to $1.76 billion during the nine months ended September 30, 2005, from $1.19 billion for the nine months ended September 30, 2004.

The Company’s core loan fundings for the three months ended September 30, 2005 consisted of $298.6 million of multi-family real estate loans, $54.3 million of commercial real estate loans, $96.6 million of single family residential real estate loans, $112.2 million of construction and land loans, and $8.5 million of business and other loans. Of the Company’s $570.2 million of core loan fundings during the third quarter of 2005, 98% of loans held for investment were adjustable rate loans, of which 72% reprice within one year.

The value of loans in the Company’s total loan pipeline was $487 million at September 30, 2005, a decrease of 10% and an increase of 38% compared to $542 million and $353 million at June 30, 2005 and September 30, 2004, respectively. The value of loans in the Company’s core loan pipeline was $478 million at September 30, 2005, a decrease of 7% and an increase of 48% compared to $514 million and $322 million at June 30, 2005 and September 30, 2004, respectively.

PORTFOLIO ASSET QUALITY

Nonperforming assets totaled $8.9 million at September 30, 2005, a decrease of $3.2 million from the $12.1 million balance at June 30, 2005. The decrease in nonperforming assets is due to the removal of one construction loan offset by the addition of one defaulted single family residential loan during the third quarter of 2005. The single family residential loan was originated by Hawthorne and acquired through the Company’s acquisition of Hawthorne. This loan is considered impaired from a timeliness of repayment perspective. However, based on management’s analysis, no specific reserve is warranted as of September 30, 2005 as there is sufficient collateral to secure the loan principal balance.

The overall adequacy of the allowance for loan losses is reviewed by the Bank’s Internal Asset Review Committee on a quarterly basis and submitted to the Board of Directors for approval. The Internal Asset Review Committee’s responsibilities consist of risk management, as well as problem loan management, which include ensuring proper risk grading of all loans and analysis of specific allocations for all classified loans.

The Company’s review of its allowance for loan losses at September 30, 2005 indicated that a provision for loan losses for the third quarter of 2005 was not required and that the allowance for loan losses is adequate to cover potential losses inherent in the loan portfolio

6/17

At September 30, 2005, the Company had total assets of $5.24 billion and the Bank had total deposits of $2.76 billion. The Bank operates banking offices located in Westlake Village (Ventura County), Tarzana, Malibu, Beverly Hills, Baldwin Hills, Westchester, Hawthorne, Manhattan Beach, Gardena, Hermosa Beach, Torrance, Redondo Beach (Los Angeles County), Orange, Irvine, Rancho Santa Margarita (Orange County), Riverside (Riverside County), La Jolla, Del Mar, San Diego (San Diego County), and San Mateo (San Mateo County), and lending offices, located in Corte Madera, San Mateo, Oakland, Encino, Glendale, Los Angeles, El Segundo, Irvine, Riverside, and La Jolla, California, with plans to open a banking office in the Crystal Cove Promenade in Newport Coast, California in 2005. The Bank was the 3rd largest multi-family lender in California during the 12 months ended June 30, 2005 (source: Dataquick Information Systems). The Company is a leading Section 1031-exchange accommodator and facilitates exchange transactions nationwide through the TIMCOR and North American Exchange Company brand names through the companies’ headquarters in Los Angeles and Walnut Creek, California, respectfully, offices located in Long Beach and La Jolla, California; Scottsdale, Arizona; Houston, Texas; Chicago, Illinois; and Miami, Florida; and through a presence in Seattle, Washington; Las Vegas, Nevada; Denver, Colorado; Dallas, Texas; Charlotte, North Carolina; and Washington, DC.

CONFERENCE CALL AND WEBCAST INFORMATION

Analysts and investors may listen to a discussion of the third quarter of 2005 performance and participate in the question/answer session either by dialing the phone number listed below, or through viewing a live video webcast of the discussion accessed through a link on the home page of the Company’s website at www.commercialcapital.com. The multimedia webcast enables participants to listen to the discussion and simultaneously view the video broadcast, tables, charts, an outline of the performance highlights, and submit questions for live response from the hosts. Windows Media player is required for viewing the video webcast. Interested parties can download the slide presentation from the Company’s website prior to the start of the call. It is recommended that participants dial into the call, or log in to the webcast, approximately 5 to 10 minutes prior to the event.

Conference Call	Webcast
Date: Monday, October 24, 2005	Date: Monday, October 24, 2005
Time: 7:00 a.m. PDT (10:00 a.m. EDT)	Time: 7:00 a.m. PDT (10:00 a.m. EDT)
Phone Number (866) 203-3436	Webcast URL: www.commercialcapital.com
International Dial-in Number (617) 213-8849	Windows Media player is required
Access Code: 84532368

Replay Information: for those who are unable to participate in the call or webcast live, an archive of the webcast will be available on the Company’s website at www.commercialcapital.com beginning approximately 2 hours following the end of the call. To listen to the call replay dial (888) 286-8010, or for international callers dial (617) 801-6888, the access code for either replay number is 46490116. The webcast archive and call replay will be available until November 5, 2005.

This press release and the aforementioned webcast may include forward-looking statements related to the Company’s plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors: competitive pressure in the banking industry; changes in the interest rate environment; the health of the economy, either nationally or regionally; the deterioration of credit quality, which would cause an increase in the provision for possible loan and lease losses; changes in the regulatory environment; changes in business conditions, particularly in California real estate; volatility of rate sensitive deposits; asset/liability matching risks and liquidity risks; changes in the securities markets and, with respect to the Company’s pending acquisition of Calnet Business Bank, governmental approvals of the merger; the stockholders of Calnet may fail to provide the required approval to consummate the merger. The Company undertakes no obligation to revise or publicly release any revision to these forward-looking statements.

This press release may be deemed to be solicitation material with respect to the proposed acquisition of Calnet and the issuance of shares of common stock by the Company pursuant to the merger. In connection with the proposed transaction, a registration statement on Form S-4 will be filed with the SEC. The registration statement will contain a proxy statement/prospectus to be distributed to the shareholders of Calnet in connection with their vote on the merger. SHAREHOLDERS OF CALNET ARE ENCOURAGED TO READ THE REGISTRATION STATEMENT AND

7/17

ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT/PROSPECTUS THAT WILL BE PART OF THE REGISTRATION STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. The final proxy statement/prospectus will be mailed to shareholders of Calnet. Investors and security holders will be able to obtain the documents free of charge at the SEC’s website, www.sec.gov. In addition, investors may obtain free copies of the documents filed with the SEC by the Company by contacting: Investor Relations, Commercial Capital Bancorp, Inc., 8105 Irvine Center Drive, 15^th Floor Irvine, CA 92618, telephone: 949-585-7500 or by visiting the Company’s website at www.commercialcapital.com, or from Calnet by contacting Kevin R. Watson, Chief Financial Officer, Calnet Business Bank, 1565 Exposition Blvd., Sacramento, CA 95815, telephone: 916-927-7000 or by visiting Calnet’s website at www.Calnetbank.com.

Calnet and their directors and executive officers and other members of management and employees may be deemed to participate in the solicitation of proxies in respect of the proposed transactions. Information regarding Calnet’s directors and executive officers is set forth in its proxy statement, which is available by contacting Calnet at the telephone number set forth above.

¹ Reconciliations of non-GAAP measures to GAAP results are included at the end of this release

² The Company defines core loan fundings to exclude those loans funded through its strategic alliance with Greystone Servicing Corporation, a Fannie Mae DUS lender, and the Company’s other broker and conduit channels.

³ The Company defines total loan fundings to include loans that are originated or purchased by the Company during the period.

8/17

COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in Thousands, except per share data)

	Sept. 30, 2005			Sept. 30, 2004
ASSETS
Cash and Cash Equivalents	$	69,112		$	20,445
Securities
MBS - Available For Sale		408,338			486,120
Other Investments - Available For Sale		—			100
Total Securities		408,338			486,220
FHLB Stock		84,314			86,147
Loans Held for Investment
Single Family		246,400			957,825
Multi-family		2,897,778			2,235,427
Commercial Real Estate		534,599			435,075
Construction		186,583			213,656
Land		48,414			55,786
Total Real Estate Loans		3,913,774			3,897,769
Business and Other Loans		18,085			13,399
Total Loans Held for Investment		3,931,859			3,911,168
Net Deferred Fees, Premiums and Discounts		319			(11,740	)
Allowance for Loan Losses		(28,723	)		(36,846	)
Total Loans Held for Investment, Net		3,903,455			3,862,582
Loans Held for Sale		165,760			17,620
Total Loans		4,069,215			3,880,202
Fixed Assets - Net		16,624			9,989
Foreclosed Assets		—			—
Accrued Interest Receivable		19,652			16,819
Goodwill		394,080			357,367
Core Deposit Intangible		5,414			6,105
Bank-Owned Life Insurance		93,290			46,270
Affordable Housing Investments		33,956			17,261
Other Assets		41,664			39,951
TOTAL ASSETS	$	5,235,659		$	4,966,776
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Demand Deposits - Noninterest-Bearing	$	140,185		$	92,950
Demand Deposits - Interest-Bearing		74,063			80,267
Money Market Checking		212,637			419,760
Money Market Savings		438,313			298,165
Savings		173,481			293,905
Total Transaction Deposits		1,038,679			1,185,047
Retail Time Deposits		1,001,281			1,040,634
Broker Time Deposits		55,845			72,961
Total Time Deposits		1,057,126			1,113,595
Total Deposits		2,095,805			2,298,642
Borrowings
FHLB Advances		1,510,917			1,831,798
Exchange Balances		679,526			—
Junior Subordinated Debentures		150,107			135,225
Other Borrowings		69,000			57,000
Total Borrowings		2,409,550			2,024,023
Other Liabilities		49,578			35,403
TOTAL LIABILITIES		4,554,933			4,358,068
STOCKHOLDERS’ EQUITY		680,726			608,708
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	5,235,659		$	4,966,776

	Sept. 30, 2005			Sept. 30, 2004
Operating Data
Performance Ratios and Other Data:
Equity to assets at end of period		13.00	%		12.26	%
Tangible equity to assets at end of period		5.37			4.94
Tangible equity to tangible assets at end of period		5.82			5.33
Nonperforming assets	$	8,935		$	5,095
Nonperforming assets to total assets		0.17	%		0.10	%
Allowance for loan losses to loans held for investment at end of period		0.73			0.94
Allowance for loan losses to nonaccrual loans		321			723
Per Share Data
Common shares outstanding at end of period		55,640,363			54,361,762
Book value per share	$	12.23		$	11.20
Tangible book value per share		5.05			4.51

9/17

COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands, except per share data)

	THREE MONTHS ENDED
	Sept. 30, 2005		Sept. 30, 2004
Interest Income
Loans	$	60,148	$	50,777
Securities		4,698		5,301
FHLB Stock		935		891
Fed Funds and Other		83		18
Total Interest Income		65,864		56,987
Interest Expense
Deposits		12,852		9,060
FHLB Advances		10,139		8,345
Exchange Balances		1,552		—
Junior Subordinated Debentures		2,481		1,611
Other Borrowings		575		94
Total Interest Expense		27,599		19,110
Net Interest Income		38,265		37,877
Recapture of Allowance for Loan Losses		—		—
Net Interest Income after Recapture of Allowance for Loan Losses		38,265		37,877
Noninterest Income
Loan Related Fees		1,380		2,217
Retail Banking Fees		558		588
Mortgage Banking Fees		136		137
1031 Exchange Fees		1,620		—
Gain on Sale of Loans		1,494		72
Gain on Sale of Securities		—		—
Other Income		2,246		601
Total Noninterest Income		7,434		3,615
Noninterest Expenses
Compensation and Benefits		9,251		6,148
Non-Cash Stock Compensation		865		29
Occupancy and Equipment		2,219		2,131
Marketing		393		421
Technology		746		496
Professional and Consulting		2,482		370
Insurance Premiums and Assessment Costs		602		582
Merger-Related		—		494
Provision for Unfunded Commitments		56		—
Other Expenses		3,251		2,023
Total G&A Expenses		19,865		12,694
Early Extinguishment of Debt		—		—
Amortization of Core Deposit Intangible		163		203
Total Noninterest Expenses		20,028		12,897
Income Before Taxes		25,671		28,595
Income Tax Expense		8,835		10,591
Net Income	$	16,836	$	18,004

	THREE MONTHS ENDED
	Sept. 30, 2005			Sept. 30, 2004
Operating Data
Performance Ratios and Other Data:
Earnings per share - Basic	$	0.30		$	0.34
Earnings per share - Diluted		0.29			0.32
Weighted average shares outstanding -- Basic		55,244,376			53,625,568
Weighted average shares outstanding -- Diluted		57,565,159			56,824,595
Return on average assets		1.30	%		1.50	%
Return on average tangible assets		1.41			1.62
Return on average stockholders’ equity		9.89			12.02
Return on average tangible stockholders’ equity		23.93			30.55
Interest rate spread		3.16			3.39
Net interest margin		3.31			3.49
Efficiency ratio		43.47			30.59
G&A to average assets		1.53			1.05
Effective tax rate		34.42			37.04
Core loan fundings	$	570,196		$	544,953
Total loan fundings		609,894			583,184
Loans sold		160,507			2,554
Net Charge-offs <Recoveries>		8			<15>

10/17

COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands, except per share data)

	NINE MONTHS ENDED
	Sept. 30, 2005			Sept. 30, 2004
Interest Income
Loans	$	174,594		$	92,464
Securities		14,907			17,773
FHLB Stock		3,055			1,951
Fed Funds and Other		227			55
Total Interest Income		192,783			112,243
Interest Expense
Deposits		33,587			16,963
FHLB Advances		32,207			17,014
Exchange Balances		3,039			—
Junior Subordinated Debentures		6,831			3,235
Other Borrowings		1,594			477
Total Interest Expense		77,258			37,689
Net Interest Income		115,525			74,554
Recapture of Allowance for Loan Losses		(8,109	)		—
Net Interest Income after Recapture of Allowance for Loan Losses		123,634			74,554
Noninterest Income
Loan Related Fees		3,957			3,603
Retail Banking Fees		1,599			801
Mortgage Banking Fees		285			444
1031 Exchange Fees		3,340			—
Gain on Sale of Loans		4,895			214
Gain on Sale of Securities		—			2,152
Other Income		4,005			1,183
Total Noninterest Income		18,081			8,397
Noninterest Expenses
Compensation and Benefits		23,105			11,810
Non-Cash Stock Compensation		1,499			87
Occupancy and Equipment		6,431			3,205
Marketing		1,666			1,103
Technology		2,004			837
Professional and Consulting		3,674			780
Insurance Premiums and Assessment Costs		1,745			1,117
Merger-Related		—			914
Recapture of Reserve for Unfunded Commitments		(1,434	)		—
Other Expenses		9,098			3,426
Total G&A Expenses		47,788			23,279
Early Extinguishment of Debt		—			1,204
Amortization of Core Deposit Intangible		488			261
Total Noninterest Expenses		48,276			24,744
Income Before Taxes		93,439			58,207
Income Tax Expense		34,191			22,178
Net Income	$	59,248		$	36,029

	NINE MONTHS ENDED
	Sept. 30, 2005			Sept. 30, 2004
Operating Data
Performance Ratios and Other Data:
Earnings per share - Basic	$	1.08		$	0.90
Earnings per share - Diluted		1.03			0.84
Weighted average shares outstanding -- Basic		55,085,899			40,173,889
Weighted average shares outstanding -- Diluted		57,456,826			42,794,098
Return on average assets		1.52	%		1.53	%
Return on average tangible assets		1.64			1.61
Return on average stockholders’ equity		11.93			15.05
Return on average tangible stockholders’ equity		28.75			30.95
Interest rate spread		3.13			3.31
Net interest margin		3.29			3.42
Efficiency ratio		35.77			28.06
G&A to average assets		1.22			0.99
Effective tax rate		36.59			38.10
Core loan fundings	$	1,764,628		$	1,193,972
Total loan fundings		1,842,433			1,309,246
Loans sold		702,494			15,852
Net Charge-offs <Recoveries>		3			<19>

11/17

COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in Thousands, except per share data)

	Sept. 30, 2005			June 30, 2005			Mar. 31, 2005			Dec. 31, 2004			Sept. 30, 2004
ASSETS
Cash and Cash Equivalents	$	69,112		$	33,812		$	78,775		$	16,961		$	20,445
Securities
MBS - Available For Sale		408,338			444,456			464,689			491,265			486,120
Other Investments - Available For Sale		—			—			—			—			100
Total Securities		408,338			444,456			464,689			491,265			486,220
FHLB Stock		84,314			98,943			97,007			96,046			86,147
Loans Held for Investment
Single Family		246,400			196,605			209,480			841,818			957,825
Multi-family		2,897,778			2,807,503			2,633,004			2,396,788			2,235,427
Commercial Real Estate		534,599			518,106			440,088			420,015			435,075
Construction		186,583			190,302			225,650			225,058			213,656
Land		48,414			43,946			50,182			56,308			55,786
Total Real Estate Loans		3,913,774			3,756,462			3,558,404			3,939,987			3,897,769
Business and Other Loans		18,085			18,723			19,364			16,360			13,399
Total Loans Held for Investment		3,931,859			3,775,185			3,577,768			3,956,347			3,911,168
Net Deferred Fees, Premiums and Discounts		319			(1,815	)		(4,798	)		(5,708	)		(11,740	)
Allowance for Loan Losses		(28,723	)		(28,731	)		(28,743	)		(36,835	)		(36,846	)
Total Loans Held for Investment, Net		3,903,455			3,744,639			3,544,227			3,913,804			3,862,582
Loans Held for Sale		165,760			304,723			612,549			976			17,620
Total Loans		4,069,215			4,049,362			4,156,776			3,914,780			3,880,202
Fixed Assets - Net		16,624			16,905			16,419			10,318			9,989
Foreclosed Assets		—			—			—			—			—
Accrued Interest Receivable		19,652			18,872			19,374			17,120			16,819
Goodwill		394,080			394,080			377,726			357,367			357,367
Core Deposit Intangible		5,414			5,576			5,739			5,902			6,105
Bank-Owned Life Insurance		93,290			47,525			47,081			46,277			46,270
Affordable Housing Investments		33,956			34,877			35,798			36,719			17,261
Other Assets		41,664			35,593			33,961			31,169			39,951
TOTAL ASSETS	$	5,235,659		$	5,180,001		$	5,333,345		$	5,023,924		$	4,966,776
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Demand Deposits - Noninterest-Bearing	$	140,185		$	127,300		$	110,741		$	97,931		$	92,950
Demand Deposits - Interest-Bearing		74,063			74,941			78,611			78,003			80,267
Money Market Checking		212,637			243,337			316,639			473,344			419,760
Money Market Savings		438,313			313,158			195,875			245,306			298,165
Savings		173,481			218,573			281,766			336,474			293,905
Total Transaction Deposits		1,038,679			977,309			983,632			1,231,058			1,185,047
Retail Time Deposits		1,001,281			939,410			933,209			932,562			1,040,634
Broker Time Deposits		55,845			115,895			115,199			93,161			72,961
Total Time Deposits		1,057,126			1,055,305			1,048,408			1,025,723			1,113,595
Total Deposits		2,095,805			2,032,614			2,032,040			2,256,781			2,298,642
Borrowings
FHLB Advances		1,510,917			1,521,028			2,015,338			1,856,349			1,831,798
Exchange Balances		679,526			685,551			370,202			—			—
Junior Subordinated Debentures		150,107			150,253			150,398			135,079			135,225
Other Borrowings		69,000			65,000			61,000			101,000			57,000
Total Borrowings		2,409,550			2,421,832			2,596,938			2,092,428			2,024,023
Other Liabilities		49,578			57,098			51,589			49,499			35,403
TOTAL LIABILITIES		4,554,933			4,511,544			4,680,567			4,398,708			4,358,068
STOCKHOLDERS’ EQUITY		680,726			668,457			652,778			625,216			608,708
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	5,235,659		$	5,180,001		$	5,333,345		$	5,023,924		$	4,966,776

	Sept. 30, 2005			June 30, 2005			Mar. 31, 2005			Dec. 31, 2004			Sept. 30, 2004
Operating Data
Performance Ratios and Other Data:
Equity to assets at end of period		13.00	%		12.90	%		12.24	%		12.44	%		12.26	%
Tangible equity to assets at end of period		5.37			5.19			5.05			5.21			4.94
Tangible equity to tangible assets at end of period		5.82			5.62			5.44			5.62			5.33
Nonperforming assets	$	8,935		$	12,098		$	6,475		$	6,601		$	5,095
Nonperforming assets to total assets		0.17	%		0.23	%		0.12	%		0.13	%		0.10	%
Allowance for loan losses to loans held for investment at end of period		0.73			0.76			0.80			0.93			0.94
Allowance for loan losses to nonaccrual loans		321			237			444			558			723
Per Share Data
Common shares outstanding at end of period		55,640,363			55,388,061			55,416,348			54,519,579			54,361,762
Book value per share	$	12.23		$	12.07		$	11.78		$	11.47		$	11.20
Tangible book value per share		5.05			4.85			4.86			4.80			4.51

12/17

COMMERCIAL CAPITAL BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands, except per share data)

	THREE MONTHS ENDED
	Sept. 30, 2005		June 30, 2005		Mar. 31, 2005			Dec. 31, 2004			Sept. 30, 2004
Interest Income
Loans	$	60,148	$	58,540	$	55,905		$	54,221		$	50,777
Securities		4,698		4,990		5,219			5,285			5,301
FHLB Stock		935		1,086		1,034			860			891
Fed Funds and Other		83		62		83			27			18
Total Interest Income		65,864		64,678		62,241			60,393			56,987
Interest Expense
Deposits		12,852		10,861		9,874			9,174			9,060
FHLB Advances		10,139		10,923		11,145			10,717			8,345
Exchange Balances		1,552		1,147		341			—			—
Junior Subordinated Debentures		2,481		2,307		2,043			1,770			1,611
Other Borrowings		575		515		504			264			94
Total Interest Expense		27,599		25,753		23,907			21,925			19,110
Net Interest Income		38,265		38,925		38,334			38,468			37,877
Recapture of Allowance for Loan Losses		—		—		(8,109	)		—			—
Net Interest Income after Recapture of Allowance for Loan Losses		38,265		38,925		46,443			38,468			37,877
Noninterest Income
Loan Related Fees		1,380		1,519		1,058			1,591			2,217
Retail Banking Fees		558		509		531			546			588
Mortgage Banking Fees		136		108		40			122			137
1031 Exchange Fees		1,620		1,347		374			—			—
Gain on Sale of Loans		1,494		2,757		645			3,809			72
Gain on Sale of Securities		—		—		—			—			—
Other Income		2,246		658		1,100			622			601
Total Noninterest Income		7,434		6,898		3,748			6,690			3,615
Noninterest Expenses
Compensation and Benefits		9,251		7,235		6,619			6,120			6,148
Non-Cash Stock Compensation		865		393		241			29			29
Occupancy and Equipment		2,219		2,052		2,159			2,096			2,131
Marketing		393		619		654			498			421
Technology		746		646		612			538			496
Professional and Consulting		2,482		694		498			440			370
Insurance Premiums and Assessment Costs		602		574		568			579			582
Merger-Related		—		—		—			282			494
Provision (Recapture of Reserve) for Unfunded Commitments		56		—		(1,490	)		(416	)		—
Other Expenses		3,251		3,055		2,793			2,539			2,023
Total G&A Expenses		19,865		15,268		12,654			12,705			12,694
Early Extinguishment of Debt		—		—		—			—			—
Amortization of Core Deposit Intangible		163		162		163			203			203
Total Noninterest Expenses		20,028		15,430		12,817			12,908			12,897
Income Before Taxes		25,671		30,393		37,374			32,250			28,595
Income Tax Expense		8,835		11,068		14,287			12,016			10,591
Net Income	$	16,836	$	19,325	$	23,087		$	20,234		$	18,004

	THREE MONTHS ENDED
	Sept. 30, 2005			June 30, 2005			Mar. 31, 2005			Dec. 31, 2004			Sept. 30, 2004
Operating Data:
Performance Ratios and Other Data
Earnings per share - Basic	$	0.30		$	0.35		$	0.42		$	0.37		$	0.34
Earnings per share - Diluted		0.29			0.34			0.40			0.36			0.32
Weighted average shares outstanding -- Basic		55,244,376			55,186,788			54,821,891			54,399,694			53,625,568
Weighted average shares outstanding -- Diluted		57,565,159			57,522,870			57,277,806			56,947,525			56,824,595
Return on average assets		1.30	%		1.47	%		1.78	%		1.61	%		1.50	%
Return on average tangible assets		1.41			1.59			1.92			1.73			1.62
Return on average stockholders’ equity		9.89			11.62			14.41			13.06			12.02
Return on average tangible stockholders’ equity		23.93			28.11			34.49			31.55			30.55
Interest rate spread		3.16			3.12			3.10			3.26			3.39
Net interest margin		3.31			3.28			3.27			3.38			3.49
Efficiency ratio		43.47			33.32			30.07			28.13			30.59
G&A to average assets		1.53			1.16			0.98			1.01			1.05
Effective tax rate		34.42			36.42			38.23			37.26			37.04
Core loan fundings	$	570,196		$	599,303		$	595,129		$	495,730		$	544,953
Total loan fundings		609,894			624,715			607,824			540,783			583,184
Loans sold		160,507			386,144			155,843			166,257			2,554
Net Charge-offs <Recoveries>		8			12			<17>			11			<15>

13/17

COMMERCIAL CAPITAL BANCORP, INC.
Average Balances, Net Interest Income, Yields Earned and Rates Paid
(Dollars in Thousands)

	THREE MONTHS ENDED SEPTEMBER 30,
	2005							2004
	Average Balance			Interest	Average Yield/Cost			Average Balance			Interest	Average Yield/Cost
Interest-Earning Assets:
Total Loans(1)	$	4,093,233	$	60,148		5.88	%	$	3,755,796	$	50,777		5.41	%
Securities(2)		428,419		4,698		4.39			494,957		5,301		4.28
FHLB Stock		88,407		935		4.23			85,241		891		4.18
Cash and Cash Equivalents(3)		9,596		83		3.46			3,750		18		1.92
Total Interest-Earning Assets		4,619,655		65,864		5.70			4,339,744		56,987		5.25
Noninterest-Earning Assets		570,882							474,926
Total Assets	$	5,190,537						$	4,814,670
Interest-Bearing Liabilities:
Deposits:
Transaction Accounts(4)	$	877,634		4,795		2.17		$	1,122,315		4,559		1.62
Certificates of Deposits		1,056,302		8,057		3.03			1,176,655		4,501		1.52
Total Deposits		1,933,936		12,852		2.64			2,298,970		9,060		1.57
FHLB Advances		1,469,112		10,139		2.74			1,621,709		8,345		2.05
Exchange Balances		700,793		1,552		0.88			—		—		—
Junior Subordinated Debentures		150,203		2,481		6.55			135,321		1,611		4.74
Other Borrowings (5)		64,893		575		3.52			23,424		94		1.60
Total Interest-Bearing Liabilities		4,318,937		27,599		2.54			4,079,424		19,110		1.86
Noninterest-Bearing Deposits		138,935							101,268
Other Noninterest-Bearing Liabilities		51,638							34,630
Total Liabilities		4,509,510							4,215,322
Stockholders’ Equity		681,027							599,348
Total Liabilities and Stockholders’ Equity	$	5,190,537						$	4,814,670
Net Interest-Earning Assets	$	300,718						$	260,320
Net Interest Income/Interest Rate Spread			$	38,265		3.16	%			$	37,877		3.39	%
Net Interest Margin						3.31	%						3.49	%

(1) The average balance of loans receivable includes loans held for sale and is presented without reduction for the allowance for loan losses.

(2) Consists of mortgage-backed securities and U.S. government securities which are classified as available-for-sale, excluding the unrealized gains or losses on these securities.

(3) Consists of cash in interest-earning accounts and federal funds sold.

(4) Consists of savings, money market accounts and other interest-bearing deposits.

(5) Consists of securities sold under agreements to repurchase, federal funds purchased, warehouse line of credit and other short-term borrowings.

14/17

COMMERCIAL CAPITAL BANCORP, INC.
Average Balances, Net Interest Income, Yields Earned and Rates Paid
(Dollars in Thousands)

	NINE MONTHS ENDED SEPTEMBER 30,
	2005						2004
		Average Balance		Interest	Average Yield/Cost			Average Balance		Interest	Average Yield/Cost
Interest-Earning Assets:
Total Loans(1)	$	4,121,876	$	174,594	5.65	%	$	2,284,326	$	92,464	5.40	%
Securities(2)		455,450		14,907	4.36			552,685		17,773	4.29
FHLB Stock		94,427		3,055	4.31			63,203		1,951	4.12
Cash and Cash Equivalents(3)		10,934		227	2.77			5,979		55	1.23
Total Interest-Earning Assets		4,682,687		192,783	5.49			2,906,193		112,243	5.15
Noninterest-Earning Assets		529,465						241,273
Total Assets	$	5,212,152					$	3,147,466
Interest-Bearing Liabilities:
Deposits:
Transaction Accounts(4)	$	910,708		12,925	1.90		$	729,263		9,330	1.71
Certificates of Deposits		1,049,009		20,662	2.63			659,634		7,633	1.55
Total Deposits		1,959,717		33,587	2.29			1,388,897		16,963	1.63
FHLB Advances		1,716,259		32,207	2.51			1,214,498		17,014	1.87
Exchange Balances		476,270		3,039	0.85			—		—	—
Junior Subordinated Debentures		148,535		6,831	6.15			91,359		3,235	4.73
Other Borrowings (5)		71,814		1,594	2.97			48,533		477	1.31
Total Interest-Bearing Liabilities		4,372,595		77,258	2.36			2,743,287		37,689	1.84
Noninterest-Bearing Deposits		125,376						62,837
Other Noninterest-Bearing Liabilities		51,775						22,095
Total Liabilities		4,549,746						2,828,219
Stockholders’ Equity		662,406						319,247
Total Liabilities and Stockholders’ Equity	$	5,212,152					$	3,147,466
Net Interest-Earning Assets	$	310,092					$	162,906
Net Interest Income/Interest Rate Spread			$	115,525	3.13	%			$	74,554	3.31	%
Net Interest Margin					3.29	%					3.42	%

(1) The average balance of loans receivable includes loans held for sale and is presented without reduction for the allowance for loan losses.

(2) Consists of mortgage-backed securities and U.S. government securities which are classified as available-for-sale, excluding the unrealized gains or losses on these securities.

(3) Consists of cash in interest-earning accounts and federal funds sold.

(4) Consists of savings, money market accounts and other interest-bearing deposits.

(5) Consists of securities sold under agreements to repurchase, federal funds purchased, warehouse line of credit and other short-term borrowings.

15/17

COMMERCIAL CAPITAL BANCORP, INC.
Reconciliation of Non-GAAP Financial Measures
(Dollars in Thousands, except per share data)

The following tables provide a reconciliation of the Company’s reported net interest margin and net interest spread compared to adjusted net interest margin and net interest spread excluding the net effect of the amortization or accretion of premiums or discounts resulting from the purchase accounting adjustments due to the Hawthorne acquisition:

							Excluding
	Q3 2005 As Reported						Premium/Discount Effect						Q3 2005 Adjusted
	Average				Avg.		Average						Average				Avg.
	Balance		Interest		Yield/Cost		Balance			Interest			Balance		Interest		Yield/Cost
Total Interest-Earning Assets	$	4,619,655	$	65,864	5.70	%	$	3,830		$	(756	)	$	4,623,485	$	65,108	5.63	%
Total Interest-Bearing Liabilities		4,318,937		27,599	2.54	%		(3,205	)		347		$	4,315,732	$	27,946	2.57	%
Net Interest Income/Interest Rate Spread			$	38,265	3.16	%				$	(1,103	)			$	37,162	3.06	%
Net Interest Margin					3.31	%											3.22	%
							Excluding
	Q2 2005 As Reported						Premium/Discount Effect						Q2 2005 Adjusted
	Average				Avg.		Average						Average				Avg.
	Balance		Interest		Yield/Cost		Balance			Interest			Balance		Interest		Yield/Cost
Total Interest-Earning Assets	$	4,740,920	$	64,678	5.46	%	$	4,617		$	(915	)	$	4,745,537	$	63,763	5.37	%
Total Interest-Bearing Liabilities		4,418,099		25,753	2.34	%		(3,600	)		417		$	4,414,499	$	26,170	2.38	%
Net Interest Income/Interest Rate Spread			$	38,925	3.12	%				$	(1,332	)			$	37,593	2.99	%
Net Interest Margin					3.28	%											3.17	%
							Excluding
	Q3 2004 As Reported						Premium/Discount Effect						Q3 2004 Adjusted
	Average				Avg.		Average						Average				Avg.
	Balance		Interest		Yield/Cost		Balance			Interest			Balance		Interest		Yield/Cost
Total Interest-Earning Assets	$	4,339,744	$	56,987	5.25	%	$	13,660		$	(1,434	)	$	4,353,404	$	55,553	5.10	%
Total Interest-Bearing Liabilities		4,079,424		19,110	1.86	%		(6,103	)		1,295			4,073,321		20,405	1.99	%
Net Interest Income/Interest Rate Spread			$	37,877	3.39	%				$	(2,729	)			$	35,148	3.11	%
Net Interest Margin					3.49	%											3.23	%

The following tables provide a reconciliation of the Company’s net income and total general and administrative expenses excluding the effect of the expenses related to the Commercial Banking Division. 

	Three Months Ended
Net Income	Sept. 30, 2005
Net income - as reported	$	16,836
Adjustments related to the Commercial
Banking Division:
Add: Reversal of compensation expenses		1,183
Add: Reversal of professional expenses		1,722
Add: Reversal of other operating expenses		33
Less: Tax effect (42%)		(1,234	)
Net income - Non-GAAP	$	18,540
	Three Months Ended
Total General and Administrative Expense	Sept. 30, 2005
Total general and administrative expense - as reported	$	19,865
Adjustments related to the Commercial
Banking Division:
Less: Compensation expenses		(1,183	)
Less: Professional expenses		(1,722	)
Less: Other operating expenses		(33	)
Total general and administrative expense - Non-GAAP	$	16,927

Selected Financial Highlights:

	Three Months Ended				Three Months Ended
	Sept. 30, 2005				Sept. 30, 2005
	Non-GAAP				GAAP
Basic EPS		$	0.34			$	0.30
Diluted EPS			0.32				0.29
Return on Average Assets1			1.43	%			1.30	%
Return on Tangible Assets1			1.55				1.41
Return on Average Equity1			10.89				9.89
Return on Average Tangible Equity1			26.35				23.93
Efficiency Ratio			37.04				43.47
G&A to Average Assets1			1.30				1.53

¹ Average asset and equity balances were not adjusted for purposes of calculating these Non-GAAP financial ratios

16/17

COMMERCIAL CAPITAL BANK, FSB
Selected Financial Data
(Dollars in Thousands)

	Sept. 30, 2005			June 30, 2005
ASSETS
Cash and Cash Equivalents	$	67,014		$	29,675
Securities		406,748			442,782
FHLB Stock		84,314			98,943
Loans Held For Investment
Single Family		246,400			196,605
Multi-family		2,894,484			2,804,188
Commercial Real Estate		534,599			518,106
Construction		186,583			190,302
Land		48,414			43,946
Total Real Estate Loans		3,910,480			3,753,147
Business & Other Loans		17,972			18,610
Total Loans Held for Investment		3,928,452			3,771,757
Net Deferred Fees, Premiums and Discounts		1,810			(25	)
Allowance for Loan Losses		(28,723	)		(28,731	)
Total Loans Held for Investment, Net		3,901,539			3,743,001
Loans Held For Sale		164,794			303,754
Total Loans		4,066,333			4,046,755
Other Assets		550,212			502,369
TOTAL ASSETS	$	5,174,621		$	5,120,524
LIABILITIES AND STOCKHOLDER’S EQUITY
Deposits
Demand Deposits - Noninterest-Bearing	$	176,013		$	222,143
Demand Deposits - Interest-Bearing		74,063			74,941
Money Market Checking		595,051			600,640
Money Market Savings		680,392			532,838
Savings		173,573			218,665
Total Transaction Deposits		1,699,092			1,649,227
Total Time Deposits		1,057,126			1,055,305
Total Deposits		2,756,218			2,704,532
Borrowings		1,579,917			1,586,028
Other Liabilities		55,408			58,963
TOTAL LIABILITIES		4,391,543			4,349,523
STOCKHOLDER’S EQUITY		783,078			771,001
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY	$	5,174,621		$	5,120,524

17/17