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Commercial Capital Bancorp, Inc.
(CCBI - Nasdaq National Market)
April 29, 2003
Regulation FD
This presentation may include forward-looking statements (related to the plans,
beliefs and goals of CCBI and its subsidiaries), 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; and changes in the
securities markets. CCBI undertakes no obligation to revise or publicly release
any revision to these forward-looking statements.
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CCBI Overview
Diversified Financial Services Company Based in Irvine, California
. Uniquely focused business strategy
. Attractive client base
. Strong organic growth
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CCBI Highlights
Financial Position March 31, 2003
Total Assets $1.2 billion
Loans Held for Investment $573 million
Deposits $408 million
Equity $85 million
Tangible Equity $72 million
Quarter Ended Quarter Ended
Financial Results 03/31/2003 03/31/2002
Net Income $4.2 million $1.5 million
Return on Average Equity 20.60% 21.37%
Return on Average Assets 1.70% 1.35%
Net Interest Margin 3.39% 3.64%
Efficiency Ratio 30.08% 36.75%
Loan Originations $267 million $192 million
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Business Strategy
.. Focused on financial needs of income property investors, middle-market
businesses, high net-worth individuals and professionals
.. Integrate borrower and depositor, expand relationship banking:
. Business
. Private
.. Continue core asset origination strategy to support broader business
objectives:
. Grow balance sheet and net interest income by originating high quality
multi-family loans
. Invest excess liquidity and equity in U.S. Government agency MBS
.. Expand organically: consider opening branches in locations with high
concentrations of existing franchise clients
. La Jolla banking office scheduled to open in August 2003
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Platform Supports Strategy
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Commercial Capital Bancorp, Inc.
[LOGO] [LOGO] [LOGO]
Commercial Capital Mortgage, Inc. Commercial Capital ComCap Financial Services, Inc.
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Bank
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Attractive Multi-family Market
. $311 B CA Market (15% of U.S.) (source: National Multi Housing Council
Oct. 2001)
. 35% Growth Between 2001 and 2002 ($13.4 B - $18.1 B)
. 29,000+ Loans Originated in 2002 (average size of $616,000)
. 6 of the Top 10 U.S. Markets in CA
. 2 Largest Originators Comprise 25% of Market (900+ lenders account for
the balance) source: DataQuick Dec. 2002 Data
Sacramento County
3.8% of Multi-family
Alameda County
8.7% of Multi-family
Los Angeles County
50.7% of Multi-family
Orange County
9.0% of Multi-family
San Diego County
6.7% of Multi-family
Percentages are from inception, through March 31, 2003
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Leading Loan Originator and High Growth Bank
. Since Inception, Originated $2.2 billion in Multi-family and
Commercial RE Loans
. CCM was the 4/th/ Largest Multi-family Originator in CA with 2.7%
Market Share During Year Ended 12/31/02
. Invested in Infrastructure Capable of Supporting $2 billion of Annual
Originations
"According to data compiled by the FDIC, CCBI was the fastest growing bank in
Orange County over the past 24 months...."
FDIC Website; 24 Month Period Ending 12/31/2002
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Asset Quality
LTV and DCR of March 31, 2003 Portfolio
Multi-Family
Loan to Value 69.2%
Debt Coverage Ratio 1.29:1
Commercial RE
Loan to Value 66.3%
Debt Coverage Ratio 1.35:1
Values are weighted average ratios, at origination
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Asset Quality of Multi-family Loans
Non-Accrual Loans/
Nationwide Total Loans/(1)/
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Multi-family 0.13%
Single family 0.93%
Commercial Real Estate 1.22%
Construction 1.60%
Business Loans 2.17%
Consumer 0.64%
Multi-family Loans
CCBI 0.00%
Western Region Thrifts 0.05%
Nationwide Thrifts 0.13%
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(1) Based upon 12/31/02 Thrift Financial Reports for nationwide savings
institutions
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Financial and Operating Performance
Balance Sheet
Total Assets
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$602 $649 $753 $849 $1,173
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18% CQGR (1)
(1) CQGR - Compound Quarterly Growth Rate: 3/02 to 3/03
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Financial and Operating Performance
Balance Sheet
Loans Held for Investment, Net
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$282.0 $334.0 $406.0 $469.0 $572.8
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19% CQGR (1)
(1) CQGR - Compound Quarterly Growth Rate: 3/02 to 3/03
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Financial and Operating Performance
Balance Sheet
Total Securities
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$177 $228 $238 $310 $447
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26% CQGR (1)
(1) CQGR-Compound Quarterly Growth Rate: 3/02 to 3/03
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Financial and Operating Performance
Balance Sheet
Total Deposits
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$173 $256 $328 $312 $408
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24% CQGR (1)
(1) CQGR - Compound Quarterly Growth Rate: 3/02 to 3/03
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Financial and Operating Performance
Balance Sheet
Total Borrowings
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$395 $355 $381 $452 $649
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Financial and Operating Performance
Balance Sheet
($ in Millions) Stockholders' Equity
3/02 6/02 9/02 12/02 3/03
$28.2 $33.4 $38.0 $77.6 $84.8
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Financial and Operating Performance
Loan Originations
Consolidated Loan Originations
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$192 $179 $189 $200 $267
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Financial and Operating Performance
Loans
CCM Loan Originations by Average LTV & DCR
Debt Coverage Ratio
3/02 6/02 9/02 12/02 3/03
1.31 1.33 1.30 1.31 1.27
Loan to Value
3/02 6/02 9/02 12/02 3/03
70.4% 68.4% 68.5% 69.7% 69.7%
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Financial and Operating Performance
Loans
Originations for Quarter Ended March 31, 2003
Multi-family Commercial Business
Residential Real Estate Loans
93% 5% 2%
Loans Held for Investment at March 31, 2003
Multi-family Commercial Business
Residential Real Estate Loans Other
86% 11% 2% 1%
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Financial and Operating Performance
Deposits
Total Deposits
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$173 $256 $328 $312 $408
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Financial and Operating Performance
Deposits
Deposit Composition at March 31, 2002
Certificates of Money Demand Savings
Deposits Market Deposits Accounts
91% 4% 3% 2%
Deposit Composition at March 31, 2003
Certificates of Money Demand Savings
Deposits Market Deposits Accounts
42% 55% 2% 1%
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Financial and Operating Performance
Revenues
Total Revenues
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$8.2 $10.7 $13.2 $14.0 $16.6
19% CQGR (1)
(1) CQGR - Compound Quarterly Growth Rate: 3/02 to 3/03
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Financial and Operating Performance
Revenues
Net Interest Income
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$4.0 $5.0 $5.6 $6.3 $8.1
19% CQGR (1)
(1) CQGR - Compound Quarterly Growth Rate: 3/02 to 3/03
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Financial and Operating Performance
Revenues
Noninterest Income / Total Revenue
3/02 6/02 9/02 12/02 3/03
13.0% 13.3% 19.0% 18.7% 19.4%
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Financial and Operating Performance
Expenses
G&A to Average Assets
3/02 6/02 9/02 12/02 3/03
1.63% 1.44% 1.59% 1.35% 1.36%
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Financial and Operating Performance
Expenses
Efficiency Ratio
3/02 6/02 9/02 12/02 3/03
36.8% 33.7% 35.3% 30.6% 30.1%
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Financial and Operating Performance
Profitability Ratios
Return on Average Assets
3/02 6/02 9/02 12/02 3/03
1.35% 1.54% 1.45% 1.59% 1.70%
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Financial and Operating Performance
Profitability Ratios
Return on Average Equity
3/02 6/02 9/02 12/02 3/03
21.4% 29.9% 29.2% 29.0% 20.6%
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Financial and Operating Performance
Profitability Ratios
Net Interest Margin
3/02 6/02 9/02 12/02 3/03
3.64% 3.46% 3.26% 3.27% 3.39%
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Financial and Operating Performance
Equity
Equity to Assets
3/02 6/02 9/02 12/02 3/03
4.7% 5.2% 5.1% 9.1% 7.2%
Tangible Equity to Assets
3/02 6/02 9/02 12/02 3/03
2.5% 3.1% 3.3% 7.6% 6.1%
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Financial and Operating Performance
Equity
Book Value per Share
3/02 6/02 9/02 12/02 3/03
$3.15 $3.73 $4.24 $5.55 $5.91
17% CQGR (1)
Tangible Book Value per Share
3/02 6/02 9/02 12/02 3/03
$1.70 $2.28 $2.78 $4.62 $5.00
31% CQGR (1)
(1) CQGR - Compound Quarterly Growth Rate: 3/02 to 3/03
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Financial and Operating Performance
Earnings
Quarterly Net Income
($ in Millions)
3/02 6/02 9/02 12/02 3/03
$1.5 $2.3 $2.6 $3.2 $4.2
29% CQGR (1)
(1) CQGR - Compound Quarterly Growth Rate: 3/02 to 3/03
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Financial and Operating Performance
Earnings
Fully Diluted Earnings Per Share
3/02 6/02 9/02 12/02 3/03
$0.17 $0.24 $0.27 $0.31* $0.28#
* 10,309,944 average diluted shares outstanding for Q4 2002
# 14,989,534 average diluted shares outstanding for Q1 2003
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Commercial Capital Bancorp, Inc.
NASDAQ: CCBI