FOR IMMEDIATE RELEASE

NEWPORT BEACH, Calif--July 27, 2007--Independence Bank announces an increase in Net Income for the second quarter 2007 compared to the second quarter 2006. June 30, 2007 quarterly net income was $516,775 compared to $237,678 for the quarter ending June 30, 2006, an increase of 117%. Total assets for the period ending June 30, 2007 grew to $318 million, an increase of $96 million or 43% when compared to June 30, 2006. "We continue to grow our loan portfolio and reduce our cost of funds, two principal factors that contributed toward our June 30, 2007 increase in net income" stated Chuck Thomas, President and CEO. "Our loan portfolio is continuing to perform well. At June 30, 2007 we have one non-accrual loan which represents .07% of our total loans outstanding", added Thomas.

Total deposits at June 30, 2007 increased $81.6 million or 56% compared to June 30, 2006. The Bank reports $227 million in total deposits at June 30, 2007. Core deposits increased 102% during this same 12 month period.

Shareholder equity increased 2.60% from December 31, 2006 to June 30, 2007. Total shareholder equity at June 30, 2007 was $34,098,899. Capital ratios at June 30, 2007 were 11.1% tier one capital and total risk based capital of 12.04%, both ratios are well above the regulatory minimums to qualify as well capitalized.

Independence Bank is a full service community bank with offices in Newport Beach, San Juan Capistrano and Fountain Valley.

Contact Information:

Chuck Thomas, President/CEO
Phone: (949) 266-6000
Fax: (949) 266-6006
Email: cthomas@independence-bank.net

Maria Arakaki, EVP/CFO
Phone: (949) 266-6013
Fax: (949) 266-6006 Email: marakaki@independence-bank.net

Independence Bank
4525 MacArthur Boulevard
Newport Beach, CA 92660

# # #