New Resource Bank Presents Quarterly Financial Results for the First Quarter Ended March 31, 2009

SAN FRANCISCO--(Business Wire)--
New Resource Bank (OTCBB:NWBN) announced unaudited financial results for the
quarter ended March 31, 2009.

The Bank reported a net loss of $1.991 million for the quarter ended March 31,
2009, compared to a loss of $826,835 for the quarter ended March 31, 2008.
Included in the results for the quarter was a $1.129 million Provision for Loan
Loss related to construction loans originated in 2007.

"Despite this loss, New Resource Bank continues to have high levels of capital
and good liquidity," said Chairman, Mark Finser. "Like many financial
institutions, we are facing a challenging economic climate and have already made
significant reductions in under-performing loans in the real estate construction
and development sector."

"In addition, we added nearly $15 million in equity capital September of 2008,
which increased our capital base by over 80%. The standard regulatory definition
for well capitalized banks is for risk based capital of at least 10%. We take
comfort that our ratio was 18.97% as of 3/31/09, nearly double the standard,"
said bank Founder and Vice Chairman, Peter Liu.

The following is a summary of selected balance sheet items:

Unaudited (all dollar amounts in thousands) End of period Net %
Change Change
Mar-09 Mar-08

Gross Loans $ 108,407 $ 86,903 $ 21,503 25 %
Allowance for Loan Losses 4,228 1,362 2,866 210 %
Deposits 140,364 149,488 (9,124 ) (6 %)
Shareholders' Equity 23,746 20,574 3,172 15 %
Total Assets 166,115 170,377 (4,262 ) (3 %)

Gross loans increased 25% from the same period March 31, 2008. The loans
originated in this period were largely commercial loans (both commercial real
estate and traditional commercial business loans) and not construction loans
that currently make up the entirety of the non-performing portfolio. Deposits,
down 6% from the quarter end March 31, 2008, reflect an increased use of
off-balance sweep accounts among some of our largest relationships. Checking
balances as a percentage of total deposits rose to 21% from 13% at the end of
the first quarter 2008.

Summary income information for the quarters ended March 31, 2008 and March 31,
2009 is as follows:

Quarter Ended
Unaudited (all dollar amounts in thousands) Mar-09 Mar-08

Interest Income $ 1,986 $ 2,259
Interest Expense 380 1,021
Net Interest Income 1,606 1,238

Non-Interest Income 104 61

Provision for Loan Loss 1,129 410
Non-Interest Expense 2,572 1,715

Net Operating Income/(Loss) (1,990 ) (826 )
Taxes 1 1
Net Income/(Loss) $ (1,991 ) $ (827 )

Net interest income for the quarter ended March 31, 2009 compared to the quarter
ended March 31, 2008 increased $368,099. The increase can be attributed to
careful management of interest rate margins which more than offsets the negative
impact to interest income of the increase in the non-accrual loan portfolio. The
provision for loan loss was $1.129 million, driven by the write-down of one Land
& Construction loan originated in 2nd Quarter 2007. Non-Interest expense
reflects higher occupancy expense to accommodate staffing, higher levels of
technology and data processing expenditures, and the increased costs related to
more frequent appraisals and other loan recovery costs.

"With our strong capital and liquidity, we are confident we will weather this
storm," said A. Vincent Siciliano, President and CEO. "Our strength is our
mission and our mission is financing sustainable growth in our community."

This release contains forward-looking statements, such as statements about
certain plans, expectations, goals, and projections which are subject to
numerous risks and uncertainties. Such risks and uncertainties may include but
are not necessarily limited to fluctuations in interest rates, inflation,
government regulations and general economic conditions, including the real
estate market in California, the adequacy of the Bank`s allowance for loan
losses, and other factors beyond the Bank's control. Such risks and
uncertainties could cause results for subsequent interim periods or for the
entire years to differ materially from those indicated. Readers should not place
undue reliance on the forward-looking statements, which reflect management's
view only as of the date hereof. The Bank undertakes no obligation to publicly
revise these forward-looking statements to reflect subsequent events or
circumstances. http://www.newresourcebank.com/

New Resource Bank
Vince Siciliano, President and CEO, 415-995-8100
info@newresourcebank.com
Peter Liu, Founder and Vice Chairman, 415-995-8100
info@newresourcebank.com

Copyright Business Wire 2009