Canyon Bancorp Reports Annual Earnings

Share Name	Share Symbol	Market	Type
Canyon Bancorp (CE)	USOTC:CYBA	OTCMarkets	Common Stock

Canyon Bancorp (CE) (USOTC:CYBA)
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Canyon Bancorp (OTCBB:CYBA) President and CEO Stephen G. Hoffmann said, �In light of this particularly challenging economic climate, we are pleased to report growth in assets, loans, deposits and shareholders� equity. Net earnings of $3.5 million reflect a return on equity of over 13%. We continue to be cautiously optimistic and are pleased to announce the purchase of land for the Bank�s first branch in the City of Indio which should further add to Canyon�s profitable growth.� Canyon Bancorp reported net income of $3,519,000 or $1.38 per diluted share for the full year ended December 31, 2007, compared to income of $4,257,000 or $1.68 per diluted share for the year ended December 31, 2006. For the fourth quarter ended December 31, 2007, Canyon Bancorp earned $421,000 or $0.17 per diluted share compared to $1,170,000 or $0.46 per diluted share for the same period of 2006. Other financial highlights as of year-end 2007 compared to year-end 2006: Total assets increased $36.8 million or 14.6 percent to $289.2 million. Net loans receivable increased $45.6 million or 22.5 percent to $248.5 million. Book value per share increased $1.49 or 14.9 percent to $11.52. Total shareholders� equity increased by $4.2 million or 17.0 percent to $28.6 million. Net interest margin for the fourth quarter 2007 was 5.47 percent. In December, the Company closed escrow on a 1.56 acre parcel of land in Indio which the Bank is in the process of developing into its fifth full-service Coachella Valley branch. Management anticipates building a free standing facility with drive through access. During the construction and development phase of this new facility, a temporary facility is expected to open in the summer of 2008 which will include an ATM. The site of the new branch location is 81-385 Highway 111 in West Indio. Canyon Bancorp is a bank holding company with one banking subsidiary, Canyon National Bank, a full-service commercial bank and member of the FDIC. Palm Springs branch locations are at 1711 East Palm Canyon Drive at the Smoke Tree Village Shopping Center and 901 East Tahquitz Canyon Way. Palm Desert branch locations are at 74-150 Country Club Drive and 77-933 Las Montanas Road across from Sun City. Shares of the Company�s common stock are traded on the Over the Counter Bulletin Board � stock symbol CYBA. This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements. CANYON BANCORP & SUBSIDIARY Consolidated Balance Sheets (Dollars in thousands, except per share amounts) � � � � � � 12/31/2007 (Unaudited) � 12/31/2006 (Audited) Assets � Cash and cash equivalents $ 13,562 $ 20,569 Interest-bearing deposits in other financial institutions � 2,000 Investment securities available for sale 12,196 14,250 Federal Home Loan Bank, Federal Reserve Bank and Pacific Coast Bankers' Bank restricted stock, at cost 1,890 1,558 Loans held for sale 123 752 Loans receivable, net 248,468 202,881 Furniture, fixtures and equipment 5,680 4,548 Income tax receivable 909 276 Deferred tax asset 1,430 1,713 Other real estate owned 3,073 � Other assets 1,825 � 3,821 � � Total Assets $ 289,156 � $ 252,368 � � Liabilities and Stockholders� Equity � Deposits: Demand deposits $ 73,961 $ 90,248 NOW accounts 14,223 9,645 Savings and money market 79,262 67,770 Time certificate of deposits 63,181 � 58,767 � � Total Deposits 230,627 � 226,430 � � Other borrowed funds 28,160 � Other liabilities 1,795 � 1,515 � � Total Liabilities 260,582 � 227,945 � � Commitments and contingencies � � � � � Stockholders� Equity: Serial Preferred Stock, $5.00 par value; authorized 10,000,000 shares; none issued or outstanding � � Common Stock; authorized 10,000,000 shares; 2,479,927 and 2,316,627 shares issued and outstanding as of December 31, 2007 and December 31, 2006, respectively � � 23,513 20,803 Accumulated other comprehensive income unrealized (loss) on investment securities available-for-sale (15 ) (106 ) Retained earnings 5,076 � 3,726 � � Total Stockholders� Equity 28,574 24,423 � � � � Total Liabilities and Stockholders� Equity $ 289,156 � $ 252,368 � CANYON BANCORP & SUBSIDIARY Consolidated Statement of Operations (Unaudited) For the three and twelve months ended December 31, 2007 and 2006 (Dollars in thousands, except per share amounts) � � � � � � � Three months ended Twelve months ended December 31, December 31, 2007 2006 � 2007 2006 � Interest income: Loans receivable $ 5,145 $ 4,743 $ 20,034 $ 17,251 Federal funds sold 45 187 522 833 Interest bearing deposits in other financial institutions 1 13 50 133 Investment securities available for sale 190 202 � 679 915 � Total interest income 5,381 5,145 21,285 19,132 � Interest expense: Deposits 1,517 1,272 5,883 4,146 Other borrowed funds 249 � � 319 � � Total interest expense 1,766 1,272 � 6,202 4,146 � � Net interest income 3,615 3,873 15,083 14,986 � Provision for loan losses 900 100 � 1,310 525 � � Net interest income after provision for loan losses 2,715 3,773 � 13,773 14,461 � Noninterest income: Service charges and fees 199 167 712 591 Loan related fees 77 111 464 541 Lease administration fees 122 305 661 1,278 Automated teller machine fees 179 174 699 622 Net gain (loss) on disposition of fixed assets � (2 ) � (5 ) Total noninterest income 577 755 � 2,536 3,027 � � Noninterest expenses: Salaries and employee benefits 1,311 1,343 5,282 5,418 Occupancy and equipment expense 403 369 1,510 1,456 Professional fees 96 70 373 339 Data processing 153 129 583 530 Marketing and advertising expense 109 112 436 431 Director and shareholder expense 127 116 516 480 Other operating expense 391 427 � 1,694 1,646 � Total noninterest expenses 2,590 � 2,566 � 10,394 � 10,300 � � Earnings before income taxes 702 1,962 5,915 7,188 � Income Tax Expense 281 792 � 2,396 2,931 � � Net earnings $ 421 $ 1,170 � $ 3,519 $ 4,257 � � Earnings Per Share: Basic $ 0.17 $ 0.48 $ 1.43 $ 1.77 Diluted $ 0.17 $ 0.46 $ 1.38 $ 1.68 � Weighted Average Shares Outstanding: Basic 2,464,901 2,426,931 2,454,921 2,406,529 Diluted 2,526,967 2,535,196 2,543,964 2,529,777 CANYON BANCORP & SUBSIDIARY Selected Ratios (Unaudited) � � � � � � � � � � Three Months Ended 1 Twelve Months Ended � 12/31/2007 � � 12/31/2006 � 12/31/2007 � 12/31/2006 � � Return on average equity 5.86 % 19.45 % 13.05 % 19.43 % Return on average assets 0.59 % 1.80 % 1.31 % 1.70 % Yield on interest earning-assets 8.15 % 8.63 % 8.52 % 8.34 % Cost of interest-bearing liabilities 3.94 % 3.58 % 3.86 % 3.03 % Net interest margin 5.47 % 6.50 % 6.04 % 6.53 % Non-interest income / average assets 0.79 % 1.17 % 0.94 % 1.21 % Non-interest expense / average assets 3.62 % 3.96 % 3.85 % 4.11 % Net non-interest expense / average assets 2.83 % 2.79 % 2.91 % 2.90 % Net charge-offs/(recoveries) to average loans 2.10 % 0.02 % 0.74 % 0.02 % � as of: � 12/31/2007 � � 12/31/2006 � � Capital to assets ratio 9.88 % 9.68 % Allowance for loan losses / gross loans 1.21 % 1.65 % Loan to deposit ratio 109.5 % 91.4 % Adversely classified loans to gross loans 0.9 % 1.1 % Demand deposit accounts / total deposit accounts 32.1 % 39.9 % Book value per share2 $ 11.52 $ 10.03 � 1Interim periods annualized 2Restated for past stock dividends and splits

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CYBA Canyon Bancorp (CE)