WCB Holdings, Inc. and Western Commercial Bank Announce 4th Quarter Results for 2008

  WCB Holdings, Inc. (OTCBB: WCBH),
located at 21550 Oxnard Street, Suite 100, Woodland Hills, California,
announced its fourth quarter of 2008 financial results.  Through December
31, 2008, the Company and the Bank have continued to experience healthy
growth in total assets, loans and deposits.  The Company's total assets
grew 33% from $91.4 million at December 31, 2007 to $121.5 million at
December 31, 2008.  For the same period, total loans grew 36% from $76.3
million to $103.6 million and total deposits increased 34% from $78.5
million to $105.0 million.  For the quarter and year ended December 31,
2008, the holding company recorded net losses of $468,000 and $993,000,
respectively, as compared to last year's net income of $51,000 and net loss
of $619,000 for the same reporting periods.  The Company also recognized
$32,000 in warrants expense for the year ended December 31, 2008.

Western Commercial Bank, a wholly-owned subsidiary of WCB Holdings, Inc. recognized $51,000 and $500,000 in non-cash stock option compensation expenses, and provided $732,000 and $1,452,000 in loan loss provision for the quarter and year ended December 31, 2008.

At December 31, 2008, the Bank's allowance for loan losses was $1,655,000, increasing the loss reserve as a percentage of total loans to 1.60% (or 1.76% net of cash secured and government guaranteed loans), which Management considers prudent in this economy.

At December 31, 2008, the Bank's Tier 1 leverage ratio was 8.0% and its total risk-based-capital ratio was 10.3%, both considered in the well-capitalized category. The Bank has one non-performing asset for $7.2 million which is very well-secured in addition to a $4.7 million guaranteed by the USDA. Further, there are only 3 loans that are past due (less than 60 days) in the portfolio.

Carl W. Raggio, III, President and CEO, said, "We continued to grow the Bank during the 1st and 2nd quarters of 2008. However, due to the dramatic changes in the economy, starting in September of 2008, our growth slowed to allow us time to focus on our loan portfolio and build our loan loss reserve. We felt this was prudent to preserve capital and ensure future loan performance. The economy is having its toll on almost all sectors of the market. Hence, we feel it is prudent to be prepared for the future with a strong allowance for loan and lease losses. Our loss for the year is attributable to this. However, our loan portfolio remains strong and well-balanced in this challenging market."

To bolster its capital the Company expects to raise funds in a private offering in the second quarter of 2009.

Forward-looking statements, by their nature, are subject to risks and uncertainties. The statements contained in this release that are not historical facts are forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. Forward-looking statements speak only as of the date they were made. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances that may occur after the date that forward-looking statements are made.

The Bank offers a comprehensive selection of business deposit and loan products, cash management services as well as SBA-guaranteed loans. The Bank is not involved in any of the sub-prime products.

The Bank provides financial services to small and mid-sized businesses, entrepreneurs and professionals in the San Fernando Valley, with special expertise in commercial real estate finance.

Regular office hours are Monday through Friday, 9:00 a.m. until 4:00 p.m.

Information on the Bank's services is available by calling [phone] and online at www.westerncommercialbank.com. Information on the Bank's stock may be obtained from Carl W. Raggio, III, President and Chief Executive Officer, at [phone]. The stock trades on the OTC Bulletin Board.

Contact: Carl Raggio President & Chief Executive Officer [phone] WCB Holdings, Inc. 21550 Oxnard Street, Suite 100 Woodland Hills, CA 91367