Contact:	Stephen H. Gordon	Chairman & CEO	Telephone: (949) 585-7500
	Christopher G. Hagerty	EVP & CFO	Facsimile: (949) 585-0174

COMMERCIAL CAPITAL BANCORP, INC. ANNOUNCES FIRST QUARTER
EARNINGS OF $0.40 PER SHARE ON NET INCOME OF $23.1 MILLION

– Company Increases Cash Dividend 17% to $0.07 per Share –

– EPS Grows 11% from Fourth Quarter 2004 and 82% from First Quarter 2004 –

– Net Income Increases 14% from Fourth Quarter 2004 and

225% from First Quarter 2004 –

– Deposits at Bank Subsidiary Increased to $2.4 Billion –

– Record Total Loan Originations of $608 Million, 12% Increase from Fourth Quarter 2004

and Record Core Loan Originations of $595 Million, an Increase of 20% from Fourth

Quarter of 2004 –

– Company’s Primary Adjustable Rate Loan Index Projected to Reprice Upward at a Faster

Pace in Second Quarter of 2005 –

– Return on Average Tangible Equity Increases to 34.49% –

– Return on Average Tangible Assets Increases to 1.92% –

– Strategies to Reduce Single Family Portfolio

Anticipated to Result in Higher Yield on Interest Earning Assets –

– Company Plans to Sell $612 Million of Low Rate, Super Jumbo, Single Family, Adjustable

Loans and Replace with the Company’s Higher Rate, Adjustable Multi-family, Commercial

Real Estate and Construction Loans –

– Company Plans to Continue Selling New Originations of Low Rate, Single Family

Adjustable Loans for Cash Gains –

– Single Family Reduction Strategy Contributes to $8.1 Million Recapture of Allowance for

Loan Losses –

IRVINE, CA – April 25, 2005 – Commercial Capital Bancorp, Inc. (the “Company”), (NASDAQ: “CCBI”), the holding company for Commercial Capital Bank (the “Bank”) and TIMCOR Exchange Corporation (“TIMCOR”), announced today record net income of $23.1 million, or $0.40 per diluted share, for the first quarter of 2005, increases of 225% and 82%, respectively, from $7.1 million or $0.22 per diluted share, for the first quarter of 2004. The results for the first quarter of 2005 include the recapture of $8.1 million pre-tax of allowances for loan losses. The recapture of the allowance for loan losses is primarily a result of the Company classifying approximately $612 million of low rate single family residential loans as held for sale at March 31, 2005, as well as the sale of newly originated low rate single family loans during the first quarter of 2005, which together reduced the Company’s loans held for investment and the allowance for loan losses requirement. These lower rate loans will be replaced by the Company’s higher rate multi-family, commercial real estate and construction loan originations, resulting in an increased yield on interest earning assets. Additionally, the Company announced today that it has increased its cash dividend 17% to $0.07 per share to be paid on May 31, 2005 to shareholders of record on May 17, 2005. The Company’s return on average equity (“ROAE”) and return on average assets (“ROAA”) for the first quarter of 2005 were 14.41% and 1.78%, respectively, compared to 26.30% and 1.56% for the first quarter of 2004, respectively. The Company’s return on average tangible equity and return on average tangible assets for the first quarter of 2005 increased to 34.49% and

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1.92%, respectively, compared to 29.91% and 1.57% for the first quarter of 2004, respectively. The Company’s financial results for the first quarter of 2005 include the effects of the acquisitions of Hawthorne Financial Corporation (“Hawthorne”) and TIMCOR, which closed on June 4, 2004 and February 17, 2005, respectively. The financial data for periods prior to June 4, 2004 do not include the impact of the Hawthorne acquisition. The financial data for periods prior to February 17, 2005 do not include the impact of the TIMCOR acquisition.

Stephen H. Gordon, Chairman and Chief Executive Officer, stated, “The execution of the Company’s single family portfolio reduction strategy represents the transition away from what is a lower yielding, margin depressing, overly competitive and commoditized, lower return on equity way of doing business. On June 4, 2004, the Company inherited through the acquisition of Hawthorne a $900 million single family loan portfolio and the accompanying loan pipeline, which immediately put the Company in the super jumbo, adjustable rate, single family residential loan business. Originating these low rate loans, which initially are put on the Company’s books at negative spreads, doesn’t meet the higher hurdle rate of return performance characteristics of the Commercial Capital Bancorp business model, and as such is a poor use of the Company’s deposits and equity. Whereas originating these adjustable rate loans for non recourse cash gains on sale is consistent with our higher return on equity business model. This loan production will continue to be included in the Company’s total loan origination numbers, but the negative spread impact on net interest income will be eliminated and instead the realized cash gain on sale will benefit noninterest income. Additionally, the strategy of selling the lower rate single family loans that were in the loans held to maturity portfolio and replacing them with the Company’s adjustable rate multi-family, commercial real estate and construction loans will result in an increased yield on the Company’s loan portfolio. The sale of the Company’s single family loans frees up capital to support more profitable, wider margin lending activities.”

Gordon added, “The quarter also marked the successful acquisition of TIMCOR, the Company’s Section 1031 exchange accommodator. The acquisition, which closed on February 17, 2005, represented a synergistic opportunity to acquire a premier, 27 year-old business that provides a profitable product and service needed by our income property real estate investors. For the first quarter of 2005, TIMCOR contributed to the Company $374,000 of noninterest income and average exchange balances of $183.1 million. The Company finished the quarter with exchange balances of $370.2 million, which were recorded on the Company’s consolidated balance sheet as borrowings. The balances are primarily held at the Company’s bank subsidiary, and were recorded as $355.6 million of transaction account deposits. Full earnings benefit from these low cost funds and fees charged on transactions is anticipated to begin immediately in the second quarter of 2005.”

($ in 000’s, except per share data)	Q1			Q4			Q1
	2005			2004			2004
Net income	$	23,087		$	20,234		$	7,101
Basic EPS		0.42			0.37			0.24
Diluted EPS		0.40			0.36			0.22
Net interest income		38,334			38,468			13,802
Net interest margin		3.27	%		3.38	%		3.14	%
Total revenues	$	65,989		$	67,083		$	23,448
ROAA		1.78	%		1.61	%		1.56	%
ROAA - Tangible		1.92			1.73			1.57
ROAE		14.41			13.06			26.30
ROAE - Tangible		34.49			31.55			29.91
Efficiency ratio		30.07			28.13			25.86
Core loan originations¹	$	595,129		$	495,730		$	230,103
Total loan originations		607,824			540,783			259,372

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Some of the Company’s and Bank’s first quarter 2005 highlights and achievements include:

•

The Bank’s deposits increased 6% to $2.4 billion at March 31, 2005 from $2.3 billion at December 31, 2004. The Bank’s transaction account deposits increased 9% to $1.4 billion at March 31, 2005 from $1.2 billion at December 31, 2004. In February 2005, the Company announced that it entered into an agreement to acquire TIMCOR, a leading facilitator of tax-deferred real estate exchanges pursuant to Section 1031 of the Internal Revenue Code of 1986. The Company completed this acquisition on February 17, 2005. At March 31, 2005, TIMCOR held $370.2 million of exchange balances, of which $355.6 million were on deposit at the Bank. For the first quarter of 2005, exchange balances averaged $183.1 million. The exchange balances held by the Company since the acquisition had an average cost of 0.76%. Subsequent to the close of the acquisition, exchange balances held by TIMCOR appear on the Company’s consolidated balance sheet as a component of borrowings and are included as transaction account deposits on the subsidiary Bank’s balance sheet and, as such, are included in the calculation of various bank-level disclosures as deposits.

•

The Company entered the second quarter of 2005 with a total loan origination pipeline of $498 million, essentially unchanged from the $497 million reported at December 31, 2004. The Company entered the second quarter of 2005 with a core loan origination pipeline of $476 million at March 31, 2005, a decrease of 1% from $483 million at December 31, 2004. The Company projects significant loan origination volume during the second quarter driven by strong volumes of adjustable rate core loan originations tied to market sensitive indices, with the Company’s loan origination pipeline rates floating with market interest rates.

•

The Company continued to remix the composition of its loan portfolio by completing the sale of $155.8 million of lower rate single family loans during the first quarter of 2005. The loan sales during the quarter included $54.0 million of loans acquired in the TIMCOR transaction. Additionally, the Company classified approximately $612 million of single family residential loans as held for sale. These loans will be sold over time and replaced by the Company’s higher rate multi-family, commercial real estate and construction loans. The Company intends to continue to originate and sell for cash gains its lower rate adjustable super jumbo single family residential loans, which are recorded on the Company’s balance sheet at a premium as a result of the costs of origination and premiums paid to brokers. The Company’s loans held for sale at March 31, 2005 are virtually all single family residential loans, with one multi-family loan originated and held for sale by Commercial Capital Mortgage.

•

The Company’s multi-family loan portfolio grew during the first quarter of 2005 at an annualized rate of 39% to $2.6 billion at March 31, 2005, and now represents 74% of total loans held for investment. The Company’s total loans grew during the first quarter of 2005 at an annualized rate of 25% to $4.2 billion at March 31, 2005. At March 31, 2005, the weighted average months to reset or maturity on the Company’s total loan portfolio shortened to 11 months, compared to 12 months at December 31, 2004.

•

The Company’s allowance for loan losses was 0.80% of net loans held for investment at March 31, 2005, compared to 0.93% at December 31, 2004, and 0.33% at March 31, 2004. The Company recaptured $8.1 million of the allowance for loan losses primarily as a result of the Company classifying approximately $612 million of low rate single family residential loans as held for sale at March 31, 2005, which loans will be replaced with the Company’s higher rate adjustable multi-family, commercial real estate and construction loans, which reduced the Company’s loans held for investment and the allowance for loan losses requirement. Nonperforming assets totaled $6.5 million, or 0.12% of total assets, at March 31, 2005, compared to $6.6 million, or 0.13% of total assets, at December 31, 2004. At March 31, 2005, the allowance for loan losses totaled 444% of nonaccrual loans.

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•

The Company’s book value per share increased 3% to $11.78 at March 31, 2005 from $11.47 at December 31, 2004, and 212% from $3.78 at March 31, 2004. The Company’s tangible book value per share increased 1% to $4.86 at March 31, 2005 from $4.80 at December 31, 2004, and 45% from $3.35 at March 31, 2004.

•

The Company’s total revenues, defined as interest income plus noninterest income, equaled $66.0 million for the first quarter of 2005, a decrease of 2% from $67.1 million for the fourth quarter of 2004, and an increase of 181% from $23.4 million for the first quarter of 2004. The decrease from the fourth quarter of 2004 is attributable to a decline in gain on sale of loans and a decline in the effect that the purchase accounting adjustments from the Hawthorne transaction had on interest income.

•

In January 2005, the Company announced that its Board of Directors had authorized a second share repurchase plan that provides for the repurchase of up to 2.5% of the Company’s proforma shares outstanding. During the first quarter of 2005, the Company completed its first share repurchase plan and now operates under the second plan. At March 31, 2005, the Company had repurchased a total of 1,536,100 shares at an average price of $19.86, of which 704,400 shares were purchased during the first quarter of 2005 at an average price of $20.73.

•

In March 2005, the Company opened its first banking office in Northern California. The office located in San Mateo had deposits totaling $17.3 million at March 31, 2005. The Company intends to pursue additional de novo branches in the greater Bay Area and the Sacramento Valley region, both of which are areas with significant existing borrower relationships. The Company also intends to selectively add banking offices in additional Southern California markets.

•

The Company was the 26^th largest thrift in the country, and sixth largest in California, according to December 31, 2004 data from SNL Financial. The Bank was the fastest growing savings institution in California for the 36-month period ended December 31, 2004, according to data available from the FDIC website www.fdic.gov.Additionally, the Company was the third largest originator of multi-family loans in California for the year ended December 31, 2004, according to information available from Dataquick Information Systems.

NET INTEREST INCOME

The Company’s net interest income was $38.3 million for the first quarter of 2005, compared to $38.5 million for the fourth quarter of 2004. The reduction in net interest income in the first quarter of 2005 compared to the fourth quarter of 2004 was due to the decline in the effect of the purchase accounting adjustments related to the Hawthorne acquisition, which was $717,000 lower in the first quarter of 2005 compared to the fourth quarter of 2004. The combination of lower purchase accounting benefit and large volumes of monthly adjustable rate loan originations contributed to the Company’s net interest margin declining 11 basis points to 3.27% for the first quarter of 2005, compared to 3.38% for the fourth quarter of 2004, while the Company’s net interest margin increased 13 basis points compared to 3.14% for the first quarter of 2004. The Company’s net interest spread decreased 16 basis points to 3.10% for the first quarter of 2005, compared to 3.26% for the fourth quarter of 2004 and increased seven basis points, compared to 3.03% for the first quarter of 2004.

The Company’s yield on interest-earning assets increased one basis point to 5.31% for the first quarter of 2005, compared to 5.30% for the fourth quarter of 2004. The Company’s yield on total loans decreased one basis point to 5.46% for the first quarter of 2005, compared to 5.47% for the fourth quarter of 2004, resulting from the origination for portfolio of significant amounts of monthly repricing loans, which repricing indices are tied to the short end of the yield curve. The Company’s primary adjustable rate loan index is projected to reprice upward at a faster pace in the second quarter of 2005 on a significant percentage of the Company’s loans. Additionally, it is anticipated that as the Company continues to execute its adjustable rate single family loan sales strategy that interest earning asset yields should increase. The Company’s cost of interest-bearing liabilities increased 17 basis points to 2.21% for the first quarter of 2005, compared to 2.04% for the fourth quarter of 2004. The Company’s cost of interest-bearing deposits increased 26 basis points to 1.97% for the first quarter of 2005, compared to 1.71% for the fourth quarter of 2004. The Company’s cost of funds, including the effect of noninterest-bearing deposits, increased 16 basis points to 2.16% for the first quarter of 2005, compared to 2.00% for the fourth quarter of 2004.

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NONINTEREST INCOME

Noninterest income declined 44% to $3.7 million for the first quarter of 2005 from $6.7 million for the fourth quarter of 2004 and increased 106% from $1.8 million for the first quarter of 2004. The decrease from the fourth quarter of 2004 reflects lower gain on sale of loans during the first quarter of 2005. Loan related fee income decreased 34% to $1.1 million for the first quarter of 2005, from $1.6 million for the fourth quarter of 2004. The decrease in loan related fees compared to the fourth quarter of 2004 was driven by lower loan prepayment fees, which equaled $740,000 for the first quarter of 2005, compared to $1.4 million for the fourth quarter of 2004. Retail banking fees declined 3% to $531,000 for the first quarter of 2005, from $546,000 for the fourth quarter of 2004. Fees earned from 1031 exchange transactions totaled $374,000 since the close of the TIMCOR acquisition on February 17, 2005. Other income increased 77% to $1.1 million for the first quarter of 2005 from $622,000 for the fourth quarter of 2004. The increase in other income for the first quarter of 2005 is primarily attributable to an increase in income from bank owned life insurance.

NONINTEREST EXPENSES

The Company’s general and administrative expenses totaled $12.7 million for the first quarter of 2005, compared to $12.7 million for the fourth quarter of 2004 and $4.0 million for the first quarter of 2004. General and administrative expenses during the first quarter of 2005 include $441,000 of operating expenses associated with Timcor since the close of the acquisition on February 17, 2005. First quarter 2005 expenses also include $250,000 in severance-related costs and a $1.5 million reduction in the Company’s liability on unfunded commitments. During the fourth quarter of 2004, the Company recorded a $416,000 reduction in its liability of unfunded commitments. The Company recorded $163,000 and $203,000 of amortization of core deposit intangible during the first quarter of 2005 and fourth quarter of 2004, respectively, as a result of the acquisition of Hawthorne.

The Company’s efficiency ratio was 30.07% for the first quarter of 2005, compared to 28.13% for the fourth quarter of 2004 and 25.86% for the first quarter of 2004. General and administrative expenses were 0.98% of total average assets for the first quarter of 2005, compared to 1.01% for the fourth quarter of 2004 and 0.89% for the first quarter of 2004.

INCOME TAXES

The Company’s effective tax rate was 38.23% for the first quarter of 2005, compared to 37.26% for the fourth quarter of 2004 and 38.68% for the first quarter of 2004. The reduction of the Company’s effective tax rate during the first quarter of 2005 compared to the year ago period reflects the realization of low income housing and other tax credits and the larger amount of income property loans in enterprise zones that generate certain state tax benefits. The increase in the Company’s effective tax rate in the first quarter of 2005 compared to the prior quarter reflects higher pre-tax income, without a proportionate increase in tax credits and other benefits.

BALANCE SHEET AND CAPITAL

The Company had total consolidated assets of $5.3 billion at March 31, 2005, an increase of 6% and 172% from $5.0 billion and $2.0 billion at December 31, 2004 and March 31, 2004, respectively. Total loans, which include loans held for investment, net of the allowance for loan losses, and loans held for sale, totaled $4.2 billion at March 31, 2005, an increase of 6% and 246% from $3.9 billion and $1.2 billion at December 31, 2004 and March 31, 2004, respectively.

At March 31, 2005, multi-family loans totaled $2.6 billion, representing 74% of total loans held for investment, an increase of 10% from $2.4 billion at December 31, 2004. At December 31, 2004, multi-family loans represented 61% of total loans held for investment. The Company anticipates that multi-family and commercial real estate loans will increase as a percentage of total loans held for investment as the Company continues to focus on income property lending as a market leader in its primarily multi-family lending niche and continues to sell its single family loan originations.

At March 31, 2005, 59% of the Company’s total loan portfolio is tied to an index that adjusts each month or matures within one month, up from 57% at December 31, 2004. In addition, 70% of the Company’s loans have interest rates

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scheduled to reset or mature within six months from March 31, 2005 and 73% reset or mature within one year from March 31, 2005, compared to 70% and 71%, respectively, at December 31, 2004. The Company’s total loan portfolio had a weighted average duration to reset or maturity of approximately 11 months at March 31, 2005, a decrease from 12 months at December 31, 2004.

The Company’s securities portfolio totaled $464.7 million at March 31, 2005, a decrease of 5% and 8% from $491.3 million and $506.8 million at December 31, 2004 and March 31, 2004, respectively. Mortgage-backed securities were 9% of total assets at March 31, 2005, well below industry peers, and below the Company’s historic levels, which was 26% at March 31, 2004. The Company continues to reinvest cash flows received from the securities portfolio into the Company’s higher yielding adjustable rate loans, positioning the Company to benefit from an anticipated increase in the yield on interest earning assets.

The Bank’s deposits totaled $2.4 billion at March 31, 2005, an increase of 6% and 223% from $2.3 billion and $742.7 million at December 31, 2004 and March 31, 2004, respectively. The Bank’s transaction account deposits totaled $1.4 billion at March 31, 2005, an increase of 9% and 177% from $1.2 billion and $488.1 million at December 31, 2004 and March 31, 2004, respectively. Upon completion of the acquisition, TIMCOR’s exchange balances are classified as borrowings on the consolidated balance sheet, although these balances are classified as deposits and transaction account deposits on the Bank’s balance sheet. Since TIMCOR had a significant amount of balances at the Bank prior to the acquisition, which were recorded as deposits, the classification of the TIMCOR balances at the Bank will not be consistently reported on the consolidated balance sheet after the acquisition when compared to prior periods. The Company’s deposits totaled $2.0 billion at March 31, 2005, a decrease of 10% and an increase of 176% from $2.3 billion and $736.3 million at December 31, 2004, and March 31, 2004, respectively. The Company’s transaction account deposits totaled $983.6 million at March 31, 2005, a decrease of 20% and an increase of 104% from $1.2 billion and $481.7 million at December 31, 2004 and March 31, 2004, respectively. The decrease in the Company’s deposits and transaction account deposits from December 31, 2004 is primarily attributable to the acquisition of TIMCOR since balances previously classified as deposits have been classified as borrowings since February 17, 2005. Of the Company’s transaction account deposits at March 31, 2005, the majority was from Los Angeles, Orange, Riverside, San Diego, and Ventura counties, with business deposits accounting for $232.4 million or 24% of the total. The Company’s time deposits totaled $1.0 billion at March 31, 2005, compared to $1.0 billion and $254.6 million at December 31, 2004 and March 31, 2004, respectively.

Borrowings totaled $2.6 billion at March 31, 2005, an increase of 24% and 137% from $2.1 billion and $1.1 billion at December 31, 2004 and March 31, 2004, respectively. FHLB advances totaled $2.0 billion at March 31, 2005, an increase of 9% and 108% from $1.9 billion and $970.5 million at December 31, 2004 and March 31, 2004, respectively. During the first quarter of 2005, the Company’s exchange balances averaged $183.1 million, and had an average cost of 0.76%. The Company will receive the full benefit of the lower cost exchange balances during the second quarter of 2005 with outstanding exchange balances of $370.2 million at March 31, 2005. At March 31, 2005, the Company’s junior subordinated debt issued to its unconsolidated trust subsidiaries totaled $150.4 million, compared to $135.1 million at December 31, 2004 and $64.4 million at March 31, 2004. The increase from December 31, 2004 reflects the issuance of $15.5 million of junior subordinated debt during the first quarter of 2005. The increase in junior subordinated debt from March 31, 2004 reflects the additional issuances by the Company and the debt assumed through the acquisition of Hawthorne.

Stockholders’ equity totaled $652.8 million at March 31, 2005, an increase of 4% and 474% from $625.2 million and $113.8 million at December 31, 2004, and March 31, 2004, respectively. Tangible stockholders’ equity totaled $269.3 million, an increase of 3% and 167% from $261.9 million and $100.7 million at December 31, 2004 and March 31, 2004, respectively. The Company’s equity to assets and tangible equity to assets ratios were 12.24% and 5.05% at March 31, 2005, respectively, compared to 12.44% and 5.21% at December 31, 2004, respectively, and compared to 5.81% and 5.14% at March 31, 2004, respectively. The Company’s tangible equity to tangible assets ratio was 5.44% at March 31, 2005, compared to 5.62% and 5.17% at December 31, 2004 and March 31, 2004, respectively. Book value per share totaled $11.78, an increase of 3% and 212% from $11.47 and $3.78 at December 31, 2004, and March 31, 2004, respectively. Tangible book value per share totaled $4.86, an increase of 1% and 45% from $4.80 and $3.35 at December 31, 2004, and March 31, 2004, respectively.

During the first quarter of 2005, the Company issued 1,021,890 shares of common stock, valued at $21.7 million, for the acquisition of TIMCOR. In accordance with the acquisition agreement, an additional 340,630 shares were issued

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with contingencies, which will lapse in their entirety in February 2006. These contingent shares are excluded from the Company’s outstanding shares until such contingencies are satisfied. The acquisition of TIMCOR resulted in $20.4 million of goodwill.

The Bank’s capital ratios continued to exceed federal regulatory requirements for classification as a “well-capitalized” institution, the highest regulatory standard. The Bank’s core, tier one risk-based and total risk-based capital ratios are estimated to be 8.05%, 11.42% and 12.24% at March 31, 2005, respectively.

LOAN ORIGINATIONS

The Company’s core loan originations were $595.1 million during the first quarter of 2005, an increase of 20% and 159% from $495.7 million and $230.1 million for the fourth quarter of 2004 and first quarter of 2004, respectively. The Company’s total loan originations, which include loans that were funded through the Company’s strategic alliance with Greystone Servicing Corporation, a Fannie Mae DUS lender, and the Company’s other broker and conduit channels, totaled $607.8 million during the first quarter of 2005, an increase of 12% and 134% from $540.8 million and $259.4 million for the fourth quarter of 2004 and first quarter of 2004, respectively.

The Company’s core loan originations for the first quarter of 2005 consisted of $338.3 million of multi-family residential real estate loans, $46.8 million of commercial real estate loans, $146.5 million of single family residential real estate loans, $57.2 million of construction and land loans, and $6.3 million of business and other loans. During the first quarter of 2005, purchase transactions represented 59% of the Company’s core multi-family originations and 21% of the core commercial real estate loan originations. The Company’s core multi-family originations during the first quarter of 2005 had at origination an average loan size of $1.9 million, average loan-to-value (“LTV”) of 66.3%, and average debt coverage ratio (“DCR”) of 1.25 to 1. The Company’s core commercial real estate originations during the first quarter of 2005 had at origination an average loan size of $2.0 million, average LTV of 59.7%, and average DCR of 1.64 to 1. Of the Company’s $595.1 million of core loan originations during the first quarter of 2005, virtually all were adjustable rate loans, of which 80% reprice within one year. The Company’s focus on adjustable rate lending continues to create a greater degree of rate sensitivity in the Company’s loan portfolio, as reflected in the previously stated portfolio weighted average duration to reset or maturity of 11 months at March 31, 2005.

The value of loans in the Company’s total loan pipeline equaled $498 million at March 31, 2005, an increase of less than 1% and 68% compared to $497 million and $297 million at December 31, 2004 and March 31, 2004, respectively. The value of loans in the Company’s core loan pipeline equaled $476 million at March 31, 2005, a decrease of 1% and an increase of 96%, compared to $483 million and $243 million at December 31, 2004 and March 31, 2004, respectively. The Company projects significant growth in loans held for investment during the second quarter of 2005 driven by strong volumes of adjustable rate loan originations.

PORTFOLIO ASSET QUALITY

The Company’s asset quality review, performed during the first quarter of 2005, was based on its asset classification process, which the Company applied to the acquired Hawthorne loan portfolio. The Company used this current information, along with other qualitative and quantitative factors, updated industry, and peer comparison data to calculate the allowance for loan losses.

At March 31, 2005, the total loan portfolio held for investment decreased 10% to $3.6 billion from $4.0 billion at December 31, 2004, primarily as a result of a $632.3 million decrease in the single family residential portfolio held for investment offset by a $236.2 million increase in the multi-family portfolio. The single family residential loan portfolio held for investment decreased 75% to $209.5 million at March 31, 2005 from $841.8 million at December 31, 2004. This was primarily the result of identifying and transferring $611.6 million of single family residential loans from held for investment to held for sale, along with completed sale transactions of single family residential loans into the secondary market during the first quarter 2005. The most significant changes in the credit concentration levels of the total loan portfolio held for investment were in the multi-family and single family residential loan portfolios. The single family residential credit concentration level of the total loan portfolio held for investment decreased from 21% at December 31, 2004 to 6% at March 31, 2005. The multi-family credit concentration level increased from 61% at December 31, 2004 to 74% at March 31, 2005.

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The Bank recaptured $8.1 million of the allowance for loan losses in March 2005 as the result of: identifying and transferring $611.6 million of single family residential loans from held for investment to held for sale at March 31, 2005; selling $101.1 million of the Bank’s monthly adjustable single family residential loans in the first quarter of 2005; and management reducing the overall loss factor for single family residential loans. The adjustment in the single family residential loss factor was based on management’s assessment of the overall credit quality of the remaining $209.5 million single family residential loan portfolio held for investment, which considered the following qualitative environmental factors: the decline in the credit concentration level of the single family loan portfolio from 21% at December 31, 2004 to 6% at March 31, 2005; an increase in the weighted average seasoning of the remaining single family loans held for investment; a decrease in the average loan size of the remaining single family loans held for investment and a significant decline in the volume of new single family loan originations classified as held for investment since it is the Company’s intention to sell the vast majority of new single family residential loan originations into the secondary market.

Management establishes the allowance for loan losses by considering the credit quality and historical performance of the Company’s multi-family, commercial real estate, single family residential, construction, and land loan portfolios, which accounts for virtually all of the loan portfolio. The Company’s overall asset quality remains sound, as supported by its internal risk rating process of a more seasoned multi-family, commercial real estate and single family residential loan portfolio.

The allowance for loan losses is derived by analyzing the historical loss experience and asset quality within each loan portfolio segment, along with assessing qualitative environmental factors and correlating it with the delinquency and classification status for each portfolio segment. Management utilizes a loan grading system with five classification categories, including assets classified as Pass, based upon credit risk characteristics and categorizes each loan asset by risk grade allowing for a more consistent review of similar loan assets. Management has also evaluated the loss exposure of classified loans, which are reviewed individually based on the evaluation of the cash flow, collateral, other sources of repayment, guarantors and any other relevant factors to determine the inherent loss potential in the credit.

Management considers the following qualitative environmental factors in determining the allocated loss factors when analyzing the allowance for loan losses: the levels of and trends in past due, non-accrual, and impaired loans; levels of and trends in charge-offs and recoveries; the trend in volume and terms of loans; the effects of changes in credit concentrations; the effects of changes in risk selection, underwriting standards, and other changes in lending policies, procedures and practices; the experience, ability and depth of management and other relevant staff; national and local economic trends and conditions; and industry conditions.

The overall adequacy of the allowance for loan losses is reviewed by the Bank’s Internal Asset Review Committee on a quarterly basis and submitted to the Board of Directors for approval. The Internal Asset Review Committee’s responsibilities consist of risk management, as well as problem loan management, which include ensuring proper risk grading of all loans and analysis of specific allocations for all classified loans.

At March 31, 2005, the Company had total assets of $5.3 billion and the Bank had total deposits of $2.4 billion. The Bank operates banking offices located in Westlake Village (Ventura County), Tarzana, Malibu, Beverly Hills, Baldwin Hills, Westchester, Hawthorne, Manhattan Beach, Gardena, Hermosa Beach, Torrance, Redondo Beach (Los Angeles County), Orange, Irvine, Rancho Santa Margarita (Orange County), Riverside (Riverside County), La Jolla, Del Mar, San Diego (San Diego County), and San Mateo (San Mateo County), and lending offices, located in Corte Madera, San Mateo, Oakland, Encino, Glendale, West Los Angeles, El Segundo, Irvine, Riverside, and La Jolla, California, with plans to open a banking office in Newport Coast, California in mid-2005. The Company was the 3rd largest multi-family lender in California during the year ended December 31, 2004 (source: Dataquick Information Systems) and the Bank was the fastest growing savings institution in California, based on percentage growth in total assets over the 36 months ended December 31, 2004 (source: www.fdic.gov). TIMCOR, the Company’s Section 1031-exchange accommodator subsidiary, is a leading “qualified intermediary” and facilitates exchange transactions nationwide through its headquarters in Los Angeles, California and offices located in Texas and Florida. Timcor has plans to open an office in Illinois in June 2005.

8/15

CONFERENCE CALL AND WEBCAST INFORMATION

Analysts and investors may listen to a discussion of the first quarter of 2005 performance and participate in the question/answer session either by dialing the phone number listed below, or through viewing a live video webcast of the discussion accessed through a link on the home page of the Company’s website at www.commercialcapital.com. The multimedia webcast enables participants to listen to the discussion and simultaneously view the video broadcast, tables, charts, an outline of the performance highlights, and submit questions for live response from the hosts. Windows Media player is required for viewing the video webcast. Interested parties can download the slide presentation from the Company’s website prior to the start of the call. It is recommended that participants dial into the call, or log in to the webcast, approximately 5 to 10 minutes prior to the event.

Conference Call	Webcast
Date: Monday, April 25, 2005	Date: Monday, April 25, 2005
Time: 7:00 a.m. PDT (10:00 a.m. EDT)	Time: 7:00 a.m. PDT (10:00 a.m. EDT)
Phone Number (800) 591-6930	Webcast URL: www.commercialcapital.com
International Dial In (617) 614-4908	Windows Media player is required
Access Code: 55364717

Replay Information: for those who are unable to participate in the call or webcast live, an archive of the webcast will be available on the Company’s website at www.commercialcapital.com beginning approximately 2 hours following the end of the call. To listen to the call replay dial (888) 286-8010, or for international callers dial (617) 801-6888, the access code for either replay number is 67358788. The webcast archive and call replay will be available until June 2, 2005.

This press release and the aforementioned webcast may include forward-looking statements related to the Company’s plans, beliefs and goals, 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; and changes in the securities markets. The Company undertakes no obligation to revise or publicly release any revision to these forward-looking statements.

______________

¹The Company defines core loan originations to exclude those loan originations funded through its strategic alliance with Greystone Servicing Corporation, a Fannie Mae DUS lender, and the Company’s other broker and conduit channels.

9/15

COMMERCIAL CAPITAL BANCORP, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Dollars in Thousands, except per share data)

	Mar. 31, 2005			Mar. 31, 2004

ASSETS
Cash and Bank Accounts	$	78,775		$	7,897
Fed Funds		—			64,000
Securities
MBS - Available For Sale		464,689			506,682
Other Investments - Available For Sale		—			100

Total Securities		464,689			506,782
FHLB Stock		97,007			48,475
Loans Held for Investment
Single Family		209,480			2,882
Multi-family		2,633,004			1,045,651
Commercial Real Estate		440,088			146,329
Construction Loans		225,650			—
Land		50,182			—

Total Real Estate Loans		3,558,404			1,194,862
Business and Other Loans		19,364			7,094

Total Loans Held for Investment		3,577,768			1,201,956
Net Deferred Fees, Premiums and Discounts		(4,798	)		(1,087	)
Allowance for Loan Losses		(28,743	)		(3,944	)

Total Loans Held for Investment, Net		3,544,227			1,196,925
Loans Held for Sale		612,549			3,079

Total Loans		4,156,776			1,200,004
Fixed Assets - Net		16,419			1,784
Foreclosed Assets		—			—
Accrued Interest Receivable		19,374			7,626
Goodwill		377,726			13,035
Core Deposit Intangible		5,739			—
Bank-Owned Life Insurance		47,081			18,130
Affordable Housing Investments		35,798			9,458
Other Assets		33,961			82,465

TOTAL ASSETS	$	5,333,345		$	1,959,656

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Demand Deposits - Noninterest-Bearing	$	110,741		$	35,959
Demand Deposits - Interest-Bearing		78,611			1,084
Money Market Checking		316,639			441,595
Money Market Savings		195,875			—
Savings		281,766			3,105

Total Transaction Deposits		983,632			481,743
Retail Time Deposits		933,209			186,597
Broker Time Deposits		115,199			67,960

Total Time Deposits		1,048,408			254,557

Total Deposits		2,032,040			736,300
Borrowings
FHLB Advances		2,015,338			970,477
Exchange Balances		370,202			—
Junior Subordinated Debentures		150,398			64,435
Warehouse Line of Credit		—			2,100
Other Borrowings		61,000			58,502

Total Borrowings		2,596,938			1,095,514
Other Liabilities		51,589			14,082

TOTAL LIABILITIES		4,680,567			1,845,896

STOCKHOLDERS’ EQUITY		652,778			113,760

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	5,333,345		$	1,959,656


	Mar. 31, 2005			Mar. 31, 2004

Operating Data
Performance Ratios and Other Data:
Equity to assets at end of period		12.24	%		5.81	%
Tangible equity to assets at end of period		5.05			5.14
Tangible equity to tangible assets at end of period		5.44			5.17
Nonperforming assets	$	6,475		$	75
Nonperforming assets to total assets		0.12	%		0.00	%
Allowance for loan losses to loans held for investment at end of period		0.80			0.33
Allowance for loan losses to nonaccrual loans		444			5,259

Per Share Data
Common shares outstanding at end of period		55,416,348			30,100,472
Book value per share	$	11.78		$	3.78
Tangible book value per share		4.86			3.35

10/15

COMMERCIAL CAPITAL BANCORP, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

(Dollars in Thousands, except per share data)

	THREE MONTHS ENDED

	Mar. 31, 2005			Mar. 31, 2004

Interest Income
Loans	$	55,905		$	15,041
Securities		5,219			6,170
FHLB Stock		1,034			399
Fed Funds and Other		83			20

Total Interest Income		62,241			21,630
Interest Expense
Deposits		9,874			3,088
FHLB Advances		11,145			3,895
Exchange Balances		341			—
Junior Subordinated Debentures		2,043			638
Warehouse Line of Credit		—			51
Other Borrowings		504			156

Total Interest Expense		23,907			7,828

Net Interest Income		38,334			13,802
Recapture of Allowance for Loan Losses		(8,109	)		—

Net Interest Income after Recapture of Allowance for Loan Losses		46,443			13,802

Noninterest Income
Loan Related Fees		1,058			410
Retail Banking Fees		531			27
Mortgage Banking Fees		40			112
1031 Exchange Fees		374			—
Gain on Sale of Loans		645			138
Gain on Sale of Securities		—			893
Other Income		1,100			238

Total Noninterest Income		3,748			1,818

Noninterest Expenses
Compensation and Benefits		6,627			2,210
Non-Cash Stock Compensation		241			29
Occupancy and Equipment		2,159			361
Marketing		654			279
Technology		612			128
Professional and Consulting		490			205
Insurance Premiums and Assessment Costs		568			219
Merger-Related		—			—
Other Expenses		1,303			608

Total G&A Expenses		12,654			4,039
Early Extinguishment of Debt		—			—
Amortization of Core Deposit Intangible		163			—

Total Noninterest Expenses		12,817			4,039

Income Before Taxes		37,374			11,581
Income Tax Expense		14,287			4,480

Net Income	$	23,087		$	7,101


	THREE MONTHS ENDED

	Mar. 31, 2005			Mar. 31, 2004

Operating Data
Performance Ratios and Other Data:
Earnings per share - Basic	$	0.42		$	0.24
Earnings per share - Diluted		0.40			0.22
Weighted average shares outstanding -- Basic		54,821,891			30,018,996
Weighted average shares outstanding -- Diluted		57,277,806			32,215,530
Return on average assets		1.78	%		1.56	%
Return on average tangible assets		1.92			1.57
Return on average stockholders’ equity		14.41			26.30
Return on average tangible stockholders’ equity		34.49			29.91
Interest rate spread		3.10			3.03
Net interest margin		3.27			3.14
Efficiency ratio		30.07			25.86
G&A to average assets		0.98			0.89
Effective tax rate		38.23			38.68
Total loan originations	$	607,824		$	259,372
Core loan originations		595,129			230,103
Broker/conduit originations		12,695			29,269
Net Charge-offs <Recoveries>		<17>			<2>

11/15

COMMERCIAL CAPITAL BANCORP, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Dollars in Thousands, except per share data)

	Mar. 31, 2005			Dec. 31, 2004			Sept. 30, 2004			June 30, 2004			Mar. 31, 2004

ASSETS
Cash and Bank Accounts	$	78,775		$	16,961		$	20,445		$	18,379		$	7,897
Fed Funds		—			—			—			—			64,000
Securities
MBS - Available For Sale		464,689			491,265			486,120			499,746			506,682
Other Investments - Available For Sale		—			—			100			100			100

Total Securities		464,689			491,265			486,220			499,846			506,782
FHLB Stock		97,007			96,046			86,147			85,543			48,475
Loans Held for Investment
Single Family		209,480			841,818			957,825			924,238			2,882
Multi-family		2,633,004			2,396,788			2,235,427			2,065,938			1,045,651
Commercial Real Estate		440,088			420,015			435,075			427,898			146,329
Construction Loans		225,650			225,058			213,656			216,926			—
Land		50,182			56,308			55,786			51,637			—

Total Real Estate Loans		3,558,404			3,939,987			3,897,769			3,686,637			1,194,862
Business and Other Loans		19,364			16,360			13,399			12,926			7,094

Total Loans Held for Investment		3,577,768			3,956,347			3,911,168			3,699,563			1,201,956
Net Deferred Fees, Premiums and Discounts		(4,798	)		(5,708	)		(11,740	)		(14,801	)		(1,087	)
Allowance for Loan Losses		(28,743	)		(36,835	)		(36,846	)		(36,831	)		(3,944	)

Total Loans Held for Investment, Net		3,544,227			3,913,804			3,862,582			3,647,931			1,196,925
Loans Held for Sale		612,549			976			17,620			983			3,079

Total Loans		4,156,776			3,914,780			3,880,202			3,648,914			1,200,004
Fixed Assets - Net		16,419			10,318			9,989			8,441			1,784
Foreclosed Assets		—			—			—			—			—
Accrued Interest Receivable		19,374			17,120			16,819			16,897			7,626
Goodwill		377,726			357,367			357,367			357,367			13,035
Core Deposit Intangible		5,739			5,902			6,105			6,308			—
Bank-Owned Life Insurance		47,081			46,277			46,270			45,843			18,130
Affordable Housing Investments		35,798			36,719			17,261			10,950			9,458
Other Assets		33,961			31,169			39,951			45,362			82,465

TOTAL ASSETS	$	5,333,345		$	5,023,924		$	4,966,776		$	4,743,850		$	1,959,656

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Demand Deposits - Noninterest-Bearing	$	110,741		$	97,931		$	92,950		$	92,627		$	35,959
Demand Deposits - Interest-Bearing		78,611			78,003			80,267			88,922			1,084
Money Market Checking		316,639			473,344			419,760			450,317			441,595
Money Market Savings		195,875			245,306			298,165			386,836			—
Savings		281,766			336,474			293,905			198,063			3,105

Total Transaction Deposits		983,632			1,231,058			1,185,047			1,216,765			481,743
Retail Time Deposits		933,209			932,562			1,040,634			1,154,211			186,597
Broker Time Deposits		115,199			93,161			72,961			72,961			67,960

Total Time Deposits		1,048,408			1,025,723			1,113,595			1,227,172			254,557

Total Deposits		2,032,040			2,256,781			2,298,642			2,443,937			736,300
Borrowings
FHLB Advances		2,015,338			1,856,349			1,831,798			1,550,770			970,477
Exchange Balances		370,202			—			—			—			—
Junior Subordinated Debentures		150,398			135,079			135,225			135,370			64,435
Warehouse Line of Credit		—			—			—			—			2,100
Other Borrowings		61,000			101,000			57,000			—			58,502

Total Borrowings		2,596,938			2,092,428			2,024,023			1,686,140			1,095,514
Other Liabilities		51,589			49,499			35,403			30,952			14,082

TOTAL LIABILITIES		4,680,567			4,398,708			4,358,068			4,161,029			1,845,896

STOCKHOLDERS’ EQUITY		652,778			625,216			608,708			582,821			113,760

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	5,333,345		$	5,023,924		$	4,966,776		$	4,743,850		$	1,959,656


	Mar. 31, 2005			Dec. 31, 2004			Sept. 30, 2004			June 30, 2004			Mar. 31, 2004

Operating Data
Performance Ratios and Other Data:
Equity to assets at end of period		12.24	%		12.44	%		12.26	%		12.29	%		5.81	%
Tangible equity to assets at end of period		5.05			5.21			4.94			4.62			5.14
Tangible equity to tangible assets at end of period		5.44			5.62			5.33			5.00			5.17
Nonperforming assets	$	6,475		$	6,601		$	5,095		$	5,255		$	75
Nonperforming assets to total assets		0.12	%		0.13	%		0.10	%		0.11	%		0.00	%
Allowance for loan losses to loans held for investment at end of period		0.80			0.93			0.94			1.00			0.33
Allowance for loan losses to nonaccrual loans		444			558			723			701			5,259

Per Share Data
Common shares outstanding at end of period		55,416,348			54,519,579			54,361,762			53,126,308			30,100,472
Book value per share	$	11.78		$	11.47		$	11.20		$	10.97		$	3.78
Tangible book value per share		4.86			4.80			4.51			4.13			3.35

12/15

COMMERCIAL CAPITAL BANCORP, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

(Dollars in Thousands, except per share data)

	THREE MONTHS ENDED

	Mar. 31, 2005			Dec. 31, 2004			Sept. 30, 2004			June 30, 2004			Mar. 31, 2004

Interest Income
Loans	$	55,905		$	54,221		$	50,777		$	26,647		$	15,041
Securities		5,219			5,285			5,301			6,301			6,170
FHLB Stock		1,034			860			891			662			399
Fed Funds and Other		83			27			18			16			20

Total Interest Income		62,241			60,393			56,987			33,626			21,630
Interest Expense
Deposits		9,874			9,174			9,060			4,815			3,088
FHLB Advances		11,145			10,717			8,345			4,774			3,895
Exchange Balances		341			—			—			—			—
Junior Subordinated Debentures		2,043			1,770			1,611			986			638
Warehouse Line of Credit		—			—			—			37			51
Other Borrowings		504			264			94			139			156

Total Interest Expense		23,907			21,925			19,110			10,751			7,828

Net Interest Income		38,334			38,468			37,877			22,875			13,802
Recapture of Allowance for Loan Losses		(8,109	)		—			—			—			—

Net Interest Income after Recapture of Allowance for Loan Losses		46,443			38,468			37,877			22,875			13,802
Noninterest Income
Loan Related Fees		1,058			1,591			2,217			977			410
Retail Banking Fees		531			546			588			186			27
Mortgage Banking Fees		40			122			137			194			112
1031 Exchange Fees		374			—			—			—			—
Gain on Sale of Loans		645			3,809			72			4			138
Gain on Sale of Securities		—			—			—			1,259			893
Other Income		1,100			622			601			345			238

Total Noninterest Income		3,748			6,690			3,615			2,965			1,818

Noninterest Expenses
Compensation and Benefits		6,627			6,120			6,148			3,452			2,210
Non-Cash Stock Compensation		241			29			29			29			29
Occupancy and Equipment		2,159			2,096			2,131			713			361
Marketing		654			500			422			404			279
Technology		612			538			496			214			128
Professional and Consulting		490			438			369			205			205
Insurance Premiums and Assessment Costs		568			579			582			316			219
Merger-Related		—			282			494			420			—
Other Expenses		1,303			2,123			2,023			794			608

Total G&A Expenses		12,654			12,705			12,694			6,547			4,039
Early Extinguishment of Debt		—			—			—			1,204			—
Amortization of Core Deposit Intangible		163			203			203			58			—

Total Noninterest Expenses		12,817			12,908			12,897			7,809			4,039

Income Before Taxes		37,374			32,250			28,595			18,031			11,581
Income Tax Expense		14,287			12,016			10,591			7,108			4,480

Net Income	$	23,087		$	20,234		$	18,004		$	10,923		$	7,101


	THREE MONTHS ENDED

	Mar. 31, 2005			Dec. 31, 2004			Sept. 30, 2004			June 30, 2004			Mar. 31, 2004

Operating Data
Performance Ratios and Other Data:
Earnings per share - Basic	$	0.42		$	0.37		$	0.34		$	0.30		$	0.24
Earnings per share - Diluted		0.40			0.36			0.32			0.28			0.22
Weighted average shares outstanding -- Basic		54,821,891			54,399,694			53,625,568			36,729,282			30,018,996
Weighted average shares outstanding -- Diluted		57,277,806			56,947,525			56,824,595			39,194,351			32,215,530
Return on average assets		1.78	%		1.61	%		1.50	%		1.57	%		1.56	%
Return on average tangible assets		1.92			1.73			1.62			1.63			1.57
Return on average stockholders’ equity		14.41			13.06			12.02			17.66			26.30
Return on average tangible stockholders’ equity		34.49			31.55			30.55			32.58			29.91
Interest rate spread		3.10			3.26			3.39			3.41			3.03
Net interest margin		3.27			3.38			3.49			3.51			3.14
Efficiency ratio		30.07			28.13			30.59			25.34			25.86
G&A to average assets		0.98			1.01			1.05			0.94			0.89
Effective tax rate		38.23			37.26			37.04			39.42			38.68
Total loan originations	$	607,824		$	540,783		$	583,184		$	466,690		$	259,372
Core loan originations		595,129			495,730			544,953			418,916			230,103
Broker/conduit originations		12,695			45,053			38,231			47,774			29,269
Net Charge-offs <Recoveries>		<17>			11			<15>			<2>			<2>

13/15

COMMERCIAL CAPITAL BANCORP, INC.

Average Balances, Net Interest Income, Yields Earned and Rates Paid

(Dollars in Thousands)

	THREE MONTHS ENDED MARCH 31,

	2005						2004

	Average Balance		Interest		Average Yield/Cost		Average Balance		Interest		Average Yield/Cost

Interest-Earning Assets:
Total Loans(1)	$	4,095,700	$	55,905	5.46	%	$	1,122,528	$	15,041	5.36	%
Securities(2)		481,842		5,219	4.33			581,703		6,170	4.24
FHLB Stock		96,676		1,034	4.28			44,954		399	3.55
Cash and Cash Equivalents(3)		14,022		83	2.37			9,281		20	0.86

Total Interest-Earning Assets		4,688,240		62,241	5.31			1,758,466		21,630	4.92
Noninterest-Earning Assets		494,283						59,314

Total Assets	$	5,182,523					$	1,817,780

Interest-Bearing Liabilities:
Deposits:
Transaction Accounts(4)	$	1,003,642		4,190	1.69		$	419,234		2,004	1.92
Certificates of Deposits		1,029,099		5,684	2.24			258,945		1,084	1.68

Total Deposits		2,032,741		9,874	1.97			678,179		3,088	1.83
FHLB Advances		1,939,052		11,145	2.33			867,922		3,895	1.81
Exchange Balances		183,108		341	0.76			—		—	—
Junior Subordinated Debentures		144,995		2,043	5.71			54,238		638	4.73
Warehouse Line of Credit		—		—	—			9,596		51	2.14
Other Borrowings		81,540		504	2.51			54,769		156	1.15

Total Interest-Bearing Liabilities		4,381,436		23,907	2.21			1,664,704		7,828	1.89

Noninterest-Bearing Deposits		109,306						33,259
Other Noninterest-Bearing Liabilities		51,106						11,821

Total Liabilities		4,541,848						1,709,784
Stockholders’ Equity		640,675						107,996

Total Liabilities and Stockholders’ Equity	$	5,182,523					$	1,817,780

Net Interest-Earning Assets	$	306,804					$	93,762

Net Interest Income/Interest Rate Spread			$	38,334	3.10	%			$	13,802	3.03	%

Net Interest Margin					3.27	%					3.14	%

(1) The average balance of loans receivable includes loans held for sale and is presented without reduction for the allowance for loan losses.

(2) Consists of mortgage-backed securities and U.S. government securities which are classified as available-for-sale, excluding the unrealized gains or losses on these securities.

(3) Consists of cash in interest-earning accounts and federal funds sold.

(4) Consists of savings, money market accounts and other interest-bearing deposits.

14/15

COMMERCIAL CAPITAL BANCORP, INC.

Reconciliation of Non-GAAP Financial Measures

(Dollars in Thousands, except per share data)

The following tables provide a reconciliation of the Company’s reported net interest margin and net interest spread compared to adjusted net interest margin and net interest spread excluding the net effect of the amortization or accretion of premiums or discounts resulting from the purchase accounting adjustments due to the Hawthorne acquisition:

	1Q 2005 As Reported						Excluding Premium/Discount Effect						1Q 2005 Adjusted

	Average Balance		Interest		Avg. Yield/Cost		Average Balance			Interest			Average Balance		Interest		Avg. Yield/Cost

Total Interest-Earning Assets	$	4,688,240	$	62,241	5.31	%	$	7,390		$	(2,096	)	$	4,695,630	$	60,145	5.12	%
Total Interest-Bearing Liabilities		4,381,436		23,907	2.21	%		(4,090	)		549			4,377,346		24,456	2.27	%

Net Interest Income/ Interest Rate Spread			$	38,334	3.10	%				$	(2,645	)			$	35,689	2.85	%
Net Interest Margin					3.27	%											3.04	%

	4Q 2004 As Reported						Excluding Premium/Discount Effect						4Q 2004 Adjusted

	Average Balance		Interest		Avg. Yield/Cost		Average Balance			Interest			Average Balance		Interest		Avg. Yield/Cost

Total Interest-Earning Assets	$	4,554,868	$	60,393	5.30	%	$	11,643		$	(2,400	)	$	4,566,511	$	57,993	5.08	%
Total Interest-Bearing Liabilities		4,267,578		21,925	2.04	%		(4,893	)		962			4,262,685		22,887	2.14	%

Net Interest Income/ Interest Rate Spread			$	38,468	3.26	%				$	(3,362	)			$	35,106	2.94	%
Net Interest Margin					3.38	%											3.08	%

COMMERCIAL CAPITAL BANK, FSB

Selected Financial Data

(Dollars in Thousands)

	Mar. 31, 2005			Dec. 31, 2004

ASSETS
Cash and Bank Accounts	$	72,805		$	16,609
Securities		462,937			489,371
FHLB Stock		97,007			96,046
Loans
Single Family		209,480			841,818
Multi-family		2,629,668			2,396,788
Commercial Real Estate		440,088			420,015
Construction		225,650			225,058
Land		48,182			56,308

Total Real Estate Loans		3,553,068			3,939,987
Business & Other Loans		19,251			16,360

Total Loans Held for Investment		3,572,319			3,956,347
Net Deferred Fees, Premiums and Discounts		(2,689	)		(3,326	)
Allowance for Loan Losses		(28,743	)		(36,835	)

Total Loans Held for Investment, Net		3,540,887			3,916,186
Loans Held For Sale		611,576			—

Total Loans		4,152,463			3,916,186
Other Assets		500,496			489,183

TOTAL ASSETS	$	5,285,708		$	5,007,395

LIABILITIES AND STOCKHOLDER’S EQUITY
Deposits
Demand Deposits - Non-Interest	$	125,973		$	101,119
Demand Deposits - Interest		78,611			78,003
Money Market Checking		669,359			478,505
Money Market Savings		195,875			245,306
Savings		281,766			336,474

Total Transaction Deposits		1,351,584			1,239,407
Total Time Deposits		1,048,408			1,025,723

Total Deposits		2,399,992			2,265,130
Borrowings		2,076,338			1,957,349
Other Liabilities		58,507			55,530

TOTAL LIABILITIES		4,534,837			4,278,009
STOCKHOLDER’S EQUITY		750,871			729,386

TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY	$	5,285,708		$	5,007,395

15/15

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