CHARLOTTE, N.C., April 15 /PRNewswire-FirstCall/ -- Bank of Commerce (OTC Bulletin Board: BONC) announces net income for the three months ended March 31, 2008 was $92,000, compared to a loss of $254,000 for the same period last year.

Wes Sturges, President and CEO, said, "We have had a tremendous start to 2008 with asset growth of almost $10 million, and a second consecutive quarter of profitability, which is particularly gratifying given the growing challenges of our economic environment."

The Bank's total assets have grown to $98.6 million as of March 31, 2008. Gross loans have increased to $71.8 million and deposits to $64.4 million as of March 31, 2008.

Bank of Commerce serves the needs of independently owned businesses in the Charlotte, N.C. area. From a midtown Charlotte office at 100 Queens Road, we offer guidance to clients from experienced loan officers, in addition to start-up financing and other banking products, services and information. Online banking, courier service and extended deposit hours are additional hallmarks of the Bank of Commerce. The Bank's common stock is quoted in the over-the-counter market through the OTC Bulletin Board under the symbol "BONC.OB." For additional information, contact Bank of Commerce Headquarters, 100 Queens Road, Charlotte, N.C. (telephone 704-971-7000) or visit www.BankofCommerceNC.com.



    This release contains certain forward-looking statements with respect to
the financial condition, results of operations and business of Bank of
Commerce.  These forward-looking statements involve risks and uncertainties
and are based on the beliefs and assumptions of management of the Bank and on
the information available to management at the time that these disclosures
were prepared. These statements can be identified by the use of words like
"expect," "anticipate," "estimate" and "believe," variations of these words
and other similar expressions.  Readers should not place undue reliance on
forward-looking statements as a number of important factors could cause actual
results to differ materially from those in the forward-looking statements. The
Bank does not undertake an obligation to update any forward-looking
statements.



    Bank of Commerce
    2008 First Quarter Report


    Balance Sheets
    In Thousands
                                                 March 31,        December 31,
                                                    2008              2007
    Assets                                      (unaudited)        (audited)
    Cash                                            $2,339            $1,618
    Investment securities                           24,583            21,131
    Loans, gross                                    71,786            66,126
    Allowance for loan losses                       (1,067)             (995)
    Other assets                                       911               884
              Total assets                         $98,552           $88,764

    Liabilities and
    Shareholders' Equity
    Deposits                                       $64,371           $58,030
    Borrowed funds                                  18,208            14,928
    Other liabilities                                  403               436
    Shareholders' equity                            15,570            15,370
              Total liabilities and
              shareholders' equity                 $98,552           $88,764



    Statements of Operations (Unaudited)
    In Thousands
                                             For the Quarter   For the Quarter
                                                  Ending             Ending
                                                 March 31,         March 31,
                                                   2008               2007

    Total interest income                          $1,530              $973
    Total interest expense                            617               412
    Net interest income                               913               561
    Provision for loan losses                          72                92
    Net interest income after
     provision for loan losses                        841               469
    Total other income                                 74                23
    Total other expense                               823               746
        Income (loss) before taxes                     92              (254)
    Income taxes                                      -                 -
        Net income (loss)                             $92             ($254)

SOURCE Bank of Commerce