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Harvest Community Bank
sm_white_one_stalk.gif (1294 bytes)Harvest Community Banksm_white_one_stalk.gif (1294 bytes)
285 North Broadway Pennsville, NJ 08070
863 Route 45 Pilesgrove, NJ 08098
389 Harding Hwy., Suite 7, P. O. Box 149 Elmer, NJ 08318
473 East Broadway, Salem, NJ 08079

LPO - 7 Easterwood Street, Suite J Millville, NJ 08332

Shareholder News

FOR IMMEDIATE RELEASE

CONTACT: Dennis H. Engle,
President & CEO

April 19, 2007

856-678-8740

HARVEST COMMUNITY BANK REPORTS FIRST QUARTER 2007 FINANCIAL RESULTS

       SALEM COUNTY, NEW JERSEY, April 19, 2007 - Harvest Community Bank (OTCBB:HCBP) today reported results for the first quarter ended March 31, 2007. The Bank’s first quarter net income was $194,452, or $0.17 per share, compared to net income of $125,515, or $0.11 per share, for the corresponding first quarter 2006 period. The $68,937 or 54.9% increase is attributable primarily to the Bank’s continued growth and an increase in the net interest margin compared to the similar period in 2006. The first quarter 2007 results contain expenses for the ongoing operation of our Salem branch, whereas the first quarter 2006 financial results contained minimal expenses for the Salem branch, which opened in July 2006.

       Other areas of the Bank’s performance showed solid growth during the first quarter of 2007. Total assets increased to $179,408,953 at March 31, 2007, a 5.2% increase over the year ended December 31, 2006. Gross loans increased by $3,157,175, to $127,124,171 as of March 31, 2007, an increase of 2.5% over December 31, 2006. The Bank’s total deposits were $163,018,386 at March 31, 2007, which is an increase of $9,020,082, or 5.9%, over December 31, 2006.

       When asked to comment on the Bank’s first quarter 2007 results, Dennis H. Engle, President and Chief Executive Officer, stated, “We continue to focus our efforts on providing superior customer service at all times, and on meeting the credit and deposit needs of our primary market area to the best of our abilities. The Bank’s business plan for 2007 continues to emphasize these fundamental principles, and calls for continued prudent growth in all key operational areas”.

       Harvest Community Bank is a community bank headquartered in Pennsville, New Jersey. The Bank has additional branches in Woodstown, Elmer and Salem, New Jersey. The Bank began operations in January 2000 with the purpose of serving small businesses, professionals, and retail customers in Salem, Cumberland and Gloucester Counties, New Jersey. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation up to a maximum of $100,000 per depositor.

FORWARD LOOKING STATEMENTS

Information in this release relating to Harvest Community Bank’s future prospects which are forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the following: (1) operating, legal and regulatory risks, such as continued levels of loan quality and origination volumes, continued relationships with major customers and technological changes; (2) economic, political and competitive forces affecting our banking business, such as changes in economic conditions, especially in our market area, interest rate fluctuations, competitive product and pricing pressures within our market, personal and corporate bankruptcies, monetary policy and inflation; (3) our ability to grow internally; and (4) the risk that management’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful. Forward-looking statements may be identified by the use of words such as “expects,” “subject,” “believe,” “will,” “intends,” “will be,” or “would.” More information about factors that potentially could affect Harvest Community Bank’s financial results is included in Harvest Community Bank’s filings with the FDIC, including its Annual Report on Form 10-KSB for the year ended December 31, 2006. Harvest Community Bank assumes no obligation to update the forward-looking information in this announcement.

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