[X] PLEASE MARK YOUR VOTES
    AS IN THIS EXAMPLE

                                 REVOCABLE PROXY
                           MONMOUTH COMMUNITY BANCORP


          THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
                      For Special Meeting of Shareholders
                         on Thursday, December 16, 2004

      The  undersigned,  a shareholder  of MONMOUTH  COMMUNITY  BANCORP,  hereby
constitutes  and appoints  JAMES S. VACCARO and RICHARD O. LINDSEY,  and each of
them, as proxies of the undersigned with full power of substitution,  for and in
the name, place and stead of the  undersigned,  to attend the Special Meeting of
Shareholders  of Monmouth  Community  Bancorp called and to be held at Branches,
123  Monmouth  Road (Route 71),  West Long  Branch,  New  Jersey,  on  Thursday,
December  16, 2004 at 9:00 a.m.,  local time (the  "Special  Meeting"),  and any
adjournment or postponement  thereof,  and thereat to vote as designated  hereon
the number of votes or shares the undersigned would be entitled to vote and with
all powers the undersigned would possess if personally present.

                                                           For  Against  Abstain
1. To consider  and vote on a proposal to approve and      [_]     [_]      [_]
   adopt the agreement and plan of acquisition, dated
   as of  June  30,  2004,  by and  between  Monmouth
   Community  Bancorp and Allaire Community Bank, and
   the transactions contemplated therein.

2. To transact  such other  business as may  properly
   come before the Special Meeting or any adjournment
   or postponement thereof.

      THIS  PROXY  WHEN  PROPERLY  EXECUTED  WILL BE VOTED IN A MANNER  DIRECTED
HEREIN BY THE BELOW SIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL
BE VOTED  "FOR" THE  PROPOSAL  TO APPROVE  AND ADOPT THE  AGREEMENT  AND PLAN OF
ACQUISTION AND THE TRANSACTIONS CONTEMPLATED THEREIN.

                                                  ------------------------------
Please be sure to sign and date                   |           Date
  this Proxy in the box below.                    |
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- ----Shareholder sign above---------------------Co-holder (if any) sign above----



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   Detach above card, sign, date and mail in postage paid envelope provided.

                           MONMOUTH COMMUNITY BANCORP
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      Please sign exactly as your name appears  hereon.  When shares are held by
joint  tenants,   both  should  sign.   When  signing  as  attorney,   executor,
administrator,  trustee  or  guardian,  please  give  full  title as such.  If a
corporation, please sign in full corporate name by President or other authorized
officer.  If  a  partnership  or  limited  liability  company,  please  sign  in
partnership or limited liability company name by authorized person.

                  PLEASE MARK, SIGN, DATE AND RETURN THE PROXY
                      PROMPTLY USING THE ENCLOSED ENVELOPE
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IF YOUR ADDRESS HAS CHANGED,  PLEASE  CORRECT THE ADDRESS IN THE SPACE  PROVIDED
BELOW AND RETURN THIS PORTION WITH THE PROXY IN THE ENVELOPE PROVIDED.


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