HOPEWELL VALLEY COMMUNITY BANK
P R E S S   R E L E A S E

Hopewell Valley Community Bank Reports Strong First Quarter 2002 Profitability  
Introduces Internet Banking Services

Hopewell Township, NJ – May 2, 2002 -Three year old Hopewell Valley Community Bank announced continuing growth and profitability for the first quarter 2002.  Earnings improved 306% to $77,710 from a loss of ($37,724) during the first quarter 2001 and represents the continuation of profit trends experienced by the Bank for all of 2001.

Total assets grew 38% to $76.2 million from $55.3 million one year earlier and were led by a 52% growth in total loans to $57.9 million from $37.9 million during the same one year period.  Total deposits were $67.0 million up 36% from $49.3 million at March 31, 2001.

In a joint statement, Chairman Patrick L. Ryan and CEO James Hyman expressed great confidence for the future of the independent Bank.  “The small business and consumer communities have truly patronized the service-oriented style of the Bank.  Growth from these sectors, coupled with strong attention to management of the Bank’s resources, have led to continued improvement in our performance.”

The financial performance and condition of the Bank for the period ended December 2001, resulted in the receipt of its second consecutive 5-Star Rating from Bauer Financial Reports, Inc., an independent bank evaluation firm.  Bauer Vice President, Karen L. Dorway, commented, “With so much uncertainty in the world today, it’s good to know we can depend on steadfast community banks, like Hopewell Valley Community Bank that are able to shine even in the most difficult of circumstances.“

The Bank’s annual shareholders meeting last week also served as an opportunity to announce the pending introduction of its new internet banking service later this month.  Hopewell Valley Community Bank has teamed with Certegy E-Banking Services to provide leading edge internet banking to its customers.  “Customers will have complete access to their bank account information, have the ability to transfer funds between their accounts and to pay their monthly bills twenty four-hours a day, seven days a week, all from the convenience of their home or office”, said Sharon Fink, Vice President at the Bank.  “And, with the new service, customers will be able to download and import all of their account activity information directly to their favorite personal or business financial manager software”.