8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

January 24, 2005
Date of Report (Date of earliest event reported)

COMMERCIAL CAPITAL BANCORP, INC.

(Exact name of registrant as specified in its charter)

Nevada
(State or other jurisdiction of incorporation)
000-50126
(Commission File Number)
33-0865080
(IRS Employer Identification No.)

8105 Irvine Center Drive, 15th Floor, Irvine,  California  92618
(Address of principal executive offices)   (Zip Code)

(949) 585-7500
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02:Results of Operations and Financial Condition.

On January 24, 2005, Commercial Capital Bancorp, Inc. (the “Company”), (NASDAQ: “CCBI”), announced its earnings for the fourth quarter ended December 31, 2004. The Company will host a conference call on January 24, 2005 at 7:00 a.m. EST that will utilize a slide presentation, a copy of which is attached hereto as Exhibit 99.1.

Item 9.01:Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) The following exhibit is included with this Report:

Exhibit 99.1 Slide Presentation dated January 24, 2005.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

COMMERCIAL CAPITAL BANCORP, INC.
	By:	/s/ Stephen H. Gordon
		Stephen H. Gordon Chairman of the Board and Chief Executive Officer

Date: January 24, 2005

EX-99.1

January 24, 2005

Fourth Quarter 2004 Earnings Call

NASDAQ: “CCBI”

This presentation may include forward-looking statements related to the plans, beliefs
and goals of the Company, its subsidiaries, which involve certain risks and
uncertainties that could cause actual results to differ materially from those in the
forward-looking statements. Such risks and uncertainties include, but are not limited
to, the following factors: competitive pressure in the banking industry; changes in the
interest rate environment; the health of the economy, either nationally or regionally;
the deterioration of credit quality, which would cause an increase in the provision for
possible loan and lease losses; changes in the regulatory environment; changes in
business conditions, particularly in California real estate; volatility of rate sensitive
deposits; asset/liability matching risks and liquidity risks; changes in the securities
markets. The Company undertakes no obligation to revise or publicly release any
revision to these forward-looking statements.

Regulation FD

2

3rd largest multi-family originator in CA with 3.4%
market share for the 12 months ended 9/30/04(source:

Franchise Positioned for Strong Growth

27^th Largest Thrift in U.S., 6^th Largest in CA(source: SNL
Datasource).

CCB was the fastest growing savings institution in
California over the 36 months ended 9/30/04 (source

www.fdic.gov).

Dataquick Information Systems).

One of California’s premier community-based retail
deposit franchises.

Amongst the most efficient operations in the industry.

3

Statewide Presence

21 Southern California

     Banking Offices

        (#21 opened in Beverly Hills on October 4, 2004

         #22 opens in San Mateo in early 2005

         #23 opens in Newport Coast in mid-2005)

10 Statewide Loan Offices

4

CCBI Highlights

Financial Position

Total Assets

   Loans Held for Investment, net

   Deposits

   Equity

   Tangible Equity

Dec 31, 2004

$5.02 billion

$3.91 billion

$2.26 billion

$625 million

$262 million

Sept 30, 2004

$4.97 billion

$3.86 billion

$2.30 billion

$609 million

$245 million

Financial Results

   Net Income

   Return on Average Equity

   Return on Avg.Tang. Equity

   Return on Average Assets

   Return on Avg.Tang. Assets

   Net Interest Margin

   Efficiency Ratio

   Total Loan Originations

Quarter Ended

12/31/2004

$20.2 million

13.06%

31.55%

1.61%

1.73%

3.38%

28.13%

$541 million

Quarter Ended

9/30/2004

$18.0 million

12.02%

30.55%

1.50%

1.62%

3.49%

30.59%

$583 million

5

$0.19

$0.22

$0.28

$0.32

$0.36

$-

$0.05

$0.10

$0.15

$0.20

$0.25

$0.30

$0.35

$0.40

12/03

3/04

6/04

9/04

12/04

Diluted Earnings per Share

Superior Earnings Performance

(1) AGR – Annual Growth Rate 12/03 to 12/04

6

$2.97

$3.35

$4.13

$4.51

$4.80

$-

$1.00

$2.00

$3.00

$4.00

$5.00

12/03

3/04

6/04

9/04

12/04

Tangible Book Value per Share

Equity Ratios

(1) AGR – Annual Growth 12/03 to 12/04

7

Equity Ratios

$3.41

$3.78

$10.97

$11.20

$11.47

$-

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

12/03

3/04

6/04

9/04

12/04

Book Value Per Share

8

Profitability Ratios

1.56%

1.56%

1.57%

1.50%

1.61%

0.0%

0.5%

1.0%

1.5%

2.0%

12/03

3/04

6/04

9/04

12/04

Return on Average Assets

9

Profitability Ratios

1.57%

1.57%

1.63%

1.62%

1.73%

0.00%

0.50%

1.00%

1.50%

2.00%

12/03

3/04

6/04

9/04

12/04

Return on Average Tangible Assets

10

Profitability Ratios

28.6%

29.9%

32.6%

30.6%

31.6%

0%

5%

10%

15%

20%

25%

30%

35%

12/03

3/04

6/04

9/04

12/04

Return on Average Tangible Equity

11

Profitability Ratios

24.8%

26.3%

17.7%

12.0%

13.1%

0%

5%

10%

15%

20%

25%

30%

12/03

3/04

6/04

9/04

12/04

Return on Average Equity

12

$1.72

$1.96

$4.74

$4.97

$5.02

$-

$1

$2

$3

$4

$5

12/03

3/04

6/04

9/04

12/04

Total Assets

($ in billions)

Balance Sheet Growth

13

Loan Originations Support
Balance Sheet Growth

$274.9

$230.1

$418.9

$545.0

$495.7

$-

$100

$200

$300

$400

$500

$600

12/03

3/04

6/04

9/04

12/04

Core Loan Originations

14

($ in millions)

Balance Sheet Growth

$1.05

$1.20

$3.70

$3.91

$3.96

$0

$1

$2

$3

$4

89%

87%

56%

57%

61%

12/03

3/04

6/04

9/04

12/04

Loans Held for Investment

Multi-Family

All other loans

($ in billions)

15

Loan Portfolio Mix

12/2004

Land  

$56 mm  

1%

Construction  

$225 mm  

6%

Multi-Family  

$2,397 mm  

61%

Commercial RE  

$420 mm  

11%

Single Family

$842 mm  

21%

Business Loans  

$16 mm

<1%

09/2004

Single Family  

$958 mm

25%

Construction  

$214 mm

5%

Land  

$56 mm

1%

Business Loans  

$13 mm

<1%

Multi-Family  

$2,235 mm

57%

Commercial RE  

$435 mm

11%

16

Nationwide

(1)

Western Region

(1)

CCBI

Multi-family

0.15%

0.06%

0.00%

Single family

0.52%

0.51%

0.03%

Commercial Real Estate

0.81%

1.08%

0.00%

Construction and Land Loans

0.77%

0.93%

0.92%

Noncurrent Loans to

Total Loans

Multi-family, Single family, Commercial Real Estate, Construction and

Land Loans account for 99.6% of the Company's total loans.

Asset Quality of Real Estate Loans

17

Multi-family

Loan to Value

Debt Coverage Ratio

Commercial RE

Loan to Value

Debt Coverage Ratio

Single Family Residential

Loan to Value

Values are weighted average ratios, at origination

LTV and DCR of Fourth Quarter 2004
Originations

67.5%

  1.23:1

62.2%

  1.32:1

63.5%

18

Consistent Underwriting

Multi-family and Commercial real estate loan

originations by average LTV and DCR

1.29

1.29

1.33

1.30

1.31

1.33

1.30

1.31

1.27

1.30

1.32

1.32

1.35

1.28

1.29

1.24

69.1%

68.9%

70.0%

70.6%

70.4%

68.4%

68.5%

69.7%

69.7%

67.8%

66.7%

65.1%

67.2%

67.8%

68.4%

67.1%

0.50

0.75

1.00

1.25

1.50

3/01

6/01

9/01

12/01

3/02

6/02

9/02

12/02

3/03

6/03

9/03

12/03

3/04

6/04

9/04

12/04

Debt Coverage Ratio

Loan to Value

19

Interest Rate Comparison

(Interest Rate, in percent)

CCBI’s loan rates adjust based on 12MAT, 1yr CMT, 6mo LIBOR, 6mo CMT and Prime, plus a margin

0

1

2

3

4

5

6

7

8

9

10

11

12

Dec-

88

Dec-

89

Dec-

90

Dec-

91

Dec-

92

Dec-

93

Dec-

94

Dec-

95

Dec-

96

Dec-

97

Dec-

98

Dec-

99

Dec-

00

Dec-

01

Dec-

02

Dec-

03

Dec-

04

12 MAT

6mo Libor

Fed Funds

Prime

6m CMT

1yr CMT

20

Historical and Forecasted 12MAT

(Index Rate, in percent)

0.0

0.5

1.0

1.5

2.0

2.5

Jan-03

Apr-03

Jul-03

Oct-03

Jan-04

Apr-04

Jul-04

Oct-04

Jan-05

Apr-05

Actual

Forecasted

21

Investment Securities

33%

26%

11%

10%

10%

0%

5%

10%

15%

20%

25%

30%

35%

12/03

3/04

6/04

9/04

12/04

Securities to Total Assets

22

($ in millions)

Changing Deposit Mix

60%

$2,256.8

65%

$645.6

50%

$736.3

52%

$2,443.9

55%

$2,298.6

$-

$500

$1,000

$1,500

$2,000

$2,500

12/03

3/04

6/04

9/04

12/04

Total Deposits

Transaction Accounts

Time Deposits

23

Deposit Composition

CD  

$1,227 mm

Money

Market  

$837 mm

Savings  

$198 mm

DDA

Checking  

$182 mm

CD  

$1,114 mm

Savings  

$294 mm

DDA

Checking  

$173 mm

Money

Market  

$718 mm

CD  

$1,026 mm

Savings  

$336 mm

Money

Market

$719 mm

DDA

Checking  

$176 mm

34%

8%

50%

8%

06/2004

31%

13%

48%

8%

09/2004

8%

32%

15%

45%

12/2004

24

Capital Ratios

5.92%

5.81%

12.29%

12.26%

12.44%

0%

2%

4%

6%

8%

10%

12%

14%

12/03

3/04

6/04

9/04

12/04

Equity to Assets

5.17%

5.14%

4.62%

4.94%

5.21%

0%

2%

4%

6%

12/03

3/04

6/04

9/04

12/04

Tangible Equity to Assets

25

Capital Ratios

5.20%

5.17%

5.00%

5.33%

5.62%

0%

2%

4%

6%

12/03

3/04

6/04

9/04

12/04

Tangible Equity to Tangible Assets

26

Bank Capital Ratio

7.97%

7.87%

7.57%

7.63%

8.01%

0%

2%

4%

6%

8%

10%

12/03

3/04

6/04

9/04

12/04

Tier 1 Core Capital Ratio

27

$20.9

$23.4

$36.6

$60.6

$67.1

$0

$10

$20

$30

$40

$50

$60

$70

12/03

3/04

6/04

9/04

12/04

Total Revenues

Operating Performance

($ in millions)

28

($ in millions)

Operating Performance

$12.4

$13.8

$22.9

$37.9

$38.5

$-

$5

$10

$15

$20

$25

$30

$35

$40

12/03

3/04

6/04

9/04

12/04

Net Interest Income

29

Operating Performance

3.23%

3.14%

3.51%

3.49%

3.38%

0%

1%

2%

3%

4%

12/03

3/04

6/04

9/04

12/04

Net Interest Margin

30

$1.4

$1.8

$3.0

$3.6

$6.7

$0

$1

$2

$3

$4

$5

$6

$7

12/03

3/04

6/04

9/04

12/04

Noninterest Income

Operating Performance

($ in millions)

31

Operating Performance Ratios

0.90%

0.89%

0.94%

1.05%

1.01%

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%

12/03

3/04

6/04

9/04

12/04

G&A to Average Assets

32

Operating Performance Ratios

25.8%

25.9%

25.3%

30.6%

28.1%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

12/03

3/04

6/04

9/04

12/04

Efficiency Ratio

33

$6.2

$7.1

$10.9

$18.0

$20.2

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

$22

12/03

3/04

6/04

9/04

12/04

Quarterly Net Income

($ in millions)

Earnings Performance

34

January 24, 2005

NASDAQ: “CCBI”

Fourth Quarter 2004 Earnings Call