Hopewell Valley Community Bank

ANNOUNCES 2006 GROWTH AND EARNINGS

Hopewell Township, NJ – February 1, 2007 – The Board of Directors of Hopewell Valley Community Bank (PinkSheets: HWDY) has announced a $.04 per share semi-annual cash dividend. The dividend will be payable on March 9, 2007, to shareholders of record on February 20, 2007. The board’s action raises the annual cash dividend rate to $.08 per share, a 60% increase over the $.05 annual dividend paid in 2006.

HVCBank also reported that 2006 year-end total assets rose to $236,093,230, an 18.0% increase over the December, 2005, year-end figure of $200,087,358. Total deposits were up 16.7%, jumping to $203,291,578 at year-end, rising from $174,200,568 at the conclusion of 2005. Total loans rose 15.4%, ending the year at $171,642,814.

Net income for the year declined 35.4% to $1,054,525 or $.45 per share from the 2005 full year total of $1,632,163 or $.80 per share. For the fourth quarter, net income dropped 65.9% to $158,959 or $.06 per share over the equivalent 2005 mark of $465,467 or $.20 per share. The major factors driving earnings during 2006 were continued pressure on the Bank’s net interest margin along with increased operating expenses driven by the branch expansion program.

Shareholder equity increased year-over-year 5.6%, ending 2006 at $20,761,563 as compared to the 2005 year-end total of $19,658,520.

HVCBank’s Chairman, Patrick L Ryan, commented that, “While the community banking environment in 2006 was very challenging we are pleased to be able to increase our dividend rate and provide a significant benefit to our shareholders. We are encouraged by the continued progress we made in the areas of loans, assets and deposit growth. 2007 will be equally challenging but we are moving forward with a strong staff and increased resources”.

President/CEO, James Hyman, stated, “ Balance sheet growth and resulting increased market share in the communities we serve are direct results of the branch expansion of 2006. The bank’s footprint has grown and with it, so has the convenience of having more branch offices in our primary market. We invested in the bank during 2006 and that investment continues this year with technology improvements to existing services and for new services to be introduced in 2007. We plan to be a strong competitor in our efforts to move the bank forward.”

Twelve Month Unaudited Results	December 31, 2006	December 31, 2005	% Change
Total Interest Income	$13,581,395	$10,436,572	30.1%
Total Noninterest Income	$1,046.060	$1,112,606	(6.0%)
Total Income	$14,627,455	$11,549,178	26.7%
Interest Expense	($6,668,304)	($3,748,518)	77.9%
Net Interest Income	$6,913,091	$6,688,054	3.4%
Total Operating Expense	($6,483,169)	($5,416,340)	19.7%
Net Income Before Taxes	$1,475,982	$2,384,320	(38.1%)
Taxes	$421,457	$752,157	(44.0%)
Net Income	$1,054,525	$1,632,163	(35.4%)
Earnings Per Share	$.45	$.80	(43.8%)
Total Assets	$236,093,230	$200,087,358	18.0%
Total Equity	$20,761,563	$19,658,520	5.6%

Hopewell Valley Community Bank is a locally owned and managed full service, FDIC insured commercial bank. Founded in 1998, HVCBank provides a friendly, personalized banking experience for residents and small business owners through its six branch banking offices in Hopewell, Pennington, Hamilton, Ewing, and Ringoes, and a loan production office in Cranbury, and through its fully interactive website at www.hvcbonline.com.

Twelve Month Unaudited Results