Exhibit 99.1

NEW COMMERCE BANCORP AND SUBSIDIARY

Consolidated Balance Sheets

December 31, 2004 and 2003

	Unaudited
	2004			2003
Assets:
Cash and due from banks	$	1,394,040		$	2,605,113
Federal funds sold		6,008,171			5,613,657

Total cash and cash equivalents		7,402,211			8,218,770
Investment securities, available for sale		15,574,682			13,180,671
Investment securities, held to maturity (fair value of $987,890)		-			959,035
Federal Reserve Bank stock		220,650			220,650
Federal Home Loan Bank stock		471,800			212,500
Loans, net		67,457,071			57,318,166
Property and equipment, net		4,163,713			4,200,681
Accrued interest receivable		349,877			301,723
Other assets		795,484			431,932

Total assets	$	96,435,488		$	85,044,128

Liabilities and Shareholders' Equity:
Liabilities:
Deposits	$	80,501,600		$	71,875,955
Advances from Federal Home Loan Bank		6,750,000			3,750,000
Drafts outstanding		527,661			439,704
Other liabilities		460,292			309,102

Total liabilities		88,239,553			76,374,761

Shareholders' Equity:
Preferred stock, $.01 par value, 10,000,000 shares
authorized, no shares issued		-			-
Common stock, $.01 par value, 10,000,000 shares
authorized, 1,000,000 issued and outstanding		10,000			10,000
Additional paid-in capital		9,741,658			9,741,658
Retained deficit		(1,555,903	)		(1,117,638	)
Accumulated other comprehensive income		180			35,347

Total shareholders' equity		8,195,935			8,669,367

Total liabilities and shareholders' equity	$	96,435,488		$	85,044,128

NEW COMMERCE BANCORP AND SUBSIDIARY

Consolidated Statements of Operations

Years Ended December 31, 2004, 2003 and 2002

	Unaudited
	2004			2003		2002
Interest Income:
Interest and fees on loans	$	3,466,529		$	2,580,516	$	2,055,409
Investment securities		756,540			677,221		899,150
Federal funds sold		35,264			18,873		13,634

Total interest income		4,258,333			3,276,610		2,968,193

Interest Expense:
Deposits		1,089,478			881,887		861,469
Securities sold under agreements to repurchase		-			-		69,929
Advances from Federal Home Loan Bank		189,199			129,883		53,716
Federal funds purchased		4,350			5,915		12,502

Total interest expense		1,283,027			1,017,685		997,616

Net Interest Income		2,975,306			2,258,925		1,970,577
Provision for Loan Losses		1,077,734			271,632		110,093

Net Interest Income After Provision for Loan Losses
		1,897,572			1,987,293		1,860,484

Non-Interest Income:
Service fees on deposit accounts		254,048			243,740		130,953
Mortgage brokerage income		180,288			220,283		142,267
Gain on sale of investment securities		16,400			125,261		87,826
Other		81,620			57,734		47,366

Total non-interest income		532,356			647,018		408,412

Non-Interest Expense:
Salaries and benefits		1,691,901			1,354,672		1,215,446
Occupancy, furniture and equipment		425,867			388,550		355,956
Data processing		256,290			192,934		184,876
Marketing		128,983			80,371		36,049
Printing, supplies and postage		118,599			107,600		94,020
Other operating		509,053			374,392		320,521

Total non-interest expense		3,130,693			2,498,519		2,206,868

Income (Loss) Before Income Taxes		(700,765	)		135,792		62,028
Income Tax Provision (Benefit)		(262,500	)		49,998		24,500

Net Income (Loss)	$	(438,265	)	$	85,794	$	37,528

Basic Earnings (Loss) per Share	$	(0.44	)	$	0.09	$	0.04

Diluted Earnings (Loss) per Share	$	(0.44	)	$	0.08	$	0.04

Weighted Average Shares Outstanding - Basic		1,000,000			1,000,000		1,000,000

Weighted Average Shares Outstanding - Diluted		1,000,000			1,018,961		1,014,473

NEW COMMERCE BANCORP 8-K