Hopewell Valley Community Bank

Hopewell Township, NJ – January 31, 2008 – 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 7, 2008, to shareholders of record on February 19, 2008. The Board’s action maintains the annual cash dividend rate at $.08 per share.

HVCBank also reported that 2007 year-end total assets rose to $244,257,557, a 3.5% increase over the December, 2006, year-end figure of $236,071,729. Total deposits were down marginally, finishing 2007 at $201,795,340, less than 1% below the 2006 year end figure of $203,291,578. Total loans advanced 7.5%, ending the year at $184,550,977.

Net income for the year declined 62.8% to $391,862 or $.17 per share from the 2006 full year total of $1,054,525 or $.45 per share. For the fourth quarter, net income dropped 67.2% to $52,107 or $.02 per share over the equivalent 2006 mark of $158,959 or $.06 per share. The major factors affecting earnings during 2007 were continued pressure on the Bank’s net interest margin and increased operating expenses driven by the branch expansion program.

Shareholder equity increased year-over-year 1.6%, ending 2007 at $21,091,678 as compared to the 2006 year-end total of $20,761,563.

Fourth quarter 2007 results mirrored the annual totals with net income coming in at $52,107 or $.02 per share, 67.2% below the 2006 final period of $158,959 and $.06.

HVCBank’s Chairman, Patrick L Ryan, commented that, “While we are clearly in the most challenging time for community banks in many years, we continue to work to deliver our distinctive style of community banking across our market area. We are increasing our efforts to provide personal and pleasant service to all of our customers as well as provide competitive interest rates on both deposits and loans.”

President/CEO, James Hyman, stated, “Although not directly involved in the sub-prime mortgage market, clearly this national problem has affected the real estate industry here in our local market just as it has nationally. A vibrant real estate market has been a traditional area of opportunity for us, and the general drop off in its activity has impacted our performance. To combat this trend, HVCBank has been emphasizing our focus on small businesses through our new “Business Owner Banking” program which, as the name implies, recognizes the personal and business banking needs of this entrepreneurial group that means so much to the New Jersey economy.”

Twelve Month Unaudited Results	December 31, 2007	December 31, 2006	% Change
Total Interest Income	$15,064,977	$13,581,395	10.9%
Total Noninterest Income	$944,156	$1,046.060	(9.7%)
Total Income	$16,009,133	$14,627,455	9.5%
Interest Expense	($7,987,610)	($6,668,304)	19.8%
Net Interest Income	$7,077,367	$6,913,091	2.4%
Total Operating Expense	($7,571,821)	($6,483,169)	16.8%
Net Income Before Taxes	$449,702	$1,475,982	(69.5%)
Taxes	$57,840	$421,457	(86.3%)
Net Income	$391,862	$1,054,525	(62.8%)
Earnings Per Share	$.17	$.45	(62.8%)
Total Assets	$244,257,557	$236,071,729	(3.5%)
Total Equity	$21,091,678	$20,761,563	1.6%

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.

For further information, please contact:
James Hyman, President & CEO
Hopewell Valley Community Bank
609 466-2900
www.hvcbonline.com