CLEARWATER, Fla., Oct. 10 /PRNewswire-FirstCall/ -- Barry K. Miller, Chairman and Chief Executive Officer of Old Harbor Bank, Clearwater, Florida (OTC:OHBK) (BULLETIN BOARD: OHBK) announced today third quarter 2006 operating results and the opening of its fifth office. This office is located in Belleair Bluffs, Pinellas County, Florida. Net profit for the quarter was $28,000 ($.01 per share) compared to a profit of $51,000 ($.04 per share) for the same quarter in 2005. The year-to- date loss for 2006 was $149,000 ($.07 per share) compared to a loss of $21,000 ($.01 per share) for the same period in 2005. The year-to-date 2006 results are approximately 28% better than the company's expectations. The company's 2006 results have been impacted by the increased operating expenses relating to the three new offices that were opened subsequent to June 30, 2005. Total assets at September 30, 2006, were $159 million, a $44 million (38%) increase over the previous year. Total loans were $117 million, a $39 million (50%) increase and total deposits were $129 million, a $33 million (35%) increase. Old Harbor Bank is a community bank, with total assets of $159 million, which opened for business in July 2003. The bank provides commercial banking services to Pinellas, southwestern Pasco and northwestern Hillsborough Counties, Florida. Its headquarters office is located at 2605 Enterprise Road, Suite 100, Clearwater, Florida, and its telephone number is (727) 451-2265. Community Offices are located in Dunedin, Palm Harbor, Trinity and Belleair Bluffs, Florida. This press release may contain 'forward-looking statements' that concern future events which are subject to risks and uncertainties. Any such statements are based on certain assumptions and analyses by the Bank and other factors it believes are appropriate in the circumstances. The Bank's actual results, events and developments may differ materially from those contemplated by any forward-looking statement. OLD HARBOR BANK Clearwater, Florida FINANCIAL HIGHLIGHTS (Dollars in thousands, except per share figures) At September 30, September 30, 2006 2005 Total assets $159,074 114,874 Loans, net $ 117,361 77,960 Deposits $128,848 95,479 Stockholders' equity $22,918 13,980 Book value per share $11.53 9.78 Number of common shares outstanding 1,987,578 1,428,800 Three Months Three Months Ended Ended 9/30/2006 9/30/2005 Interest income $2,657 1,626 Interest expense 1,416 673 Net interest income 1,241 953 Provision for loan losses 102 31 Net interest income after provision 1,139 922 Noninterest income 82 28 Noninterest expense 1,170 866 Earnings before income taxes 51 84 Income tax expense 23 33 Net earnings $28 51 Per Share $.01 .04 Nine Months Nine Months Ended Ended 9/30/2006 9/30/2005 Interest income $6,908 4,198 Interest expense 3,484 1,674 Net interest income 3,424 2,524 Provision for loan losses 397 371 Net interest income after provision 3,027 2,153 Noninterest income 182 69 Noninterest expense 3,432 2,250 Earnings (loss) before income taxes (223) (28) Income tax expense (benefit) (74) (7) Net earnings (loss) $(149) (21) Per Share $(.07) (.01) DATASOURCE: Old Harbor Bank CONTACT: Barry K. Miller of Old Harbor Bank, +1-727-451-2265 Web site: http://www.oldharborbank.com/

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