SUMMIT, N.J., Hilltop Community Bancorp, Inc. (the Corporation) (OTC Bulletin Board: HTBC.OB), the holding company for Hilltop Community Bank (the Bank), today reported net income of $123,000 ($0.05 per share, basic and diluted) for the quarter ended March 31, 2007. This is a 12.8% increase over net income of $109,000 ($0.06 per share basic, and $0.05 per share, diluted) for the first quarter of 2006. Per share amounts have been adjusted to retroactively reflect the 5% stock dividend issued in December 2006.

Average earning assets amounted to $154.3 million during the first quarter of 2007, an increase of 2.9% over the level of earning assets during the prior year's first quarter. Gross loans totaled $108.7 million at March 31, 2007, an increase of $10 million, or 10.1%, over gross loans at March 31, 2006. The loan loss reserve was 1.28% of gross loans at March 31, 2007. The Corporation's tangible book value was $7.15 per share at the end of the first quarter, compared to $6.63 per share at the end of the year earlier period. The increase reflects net income earned during those twelve months and the effect of the warrant exercise which was concluded during the second quarter of 2006. 

In a joint statement, Chairman of the Board Richard D. Wellbrock and President & CEO Mortimer J. O'Shea commented: "Hilltop's improved first quarter net income is very gratifying to us, given the continued challenge of the interest rate environment. We were able to generate a 5.2% increase in net interest income in the first quarter of 2007 as compared to the previous year's first quarter, despite a 20.3% increase in total interest expense. We attribute this to the growth in the loan portfolio, higher commercial loan yields, and improved returns on our restructured investment portfolio. Our officers and Directors are focused on developing new business in a very competitive marketplace and we hope to show improved earnings throughout the year. We appreciate new customer referrals from our shareholders."

Hilltop Community Bancorp, Inc. is the parent bank holding company for Hilltop Community Bank. Hilltop Community Bank is a New Jersey state-chartered commercial bank which commenced operations in February 2000. The Bank operates as a locally headquartered, community bank engaged in a general commercial banking business. The Bank has offices in Summit, Berkeley Heights and Madison, and administrative offices in New Providence. The service area includes surrounding communities in Union, Essex, Morris and Somerset Counties.

The foregoing contains forward-looking statements within the meaning of the private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about new and existing programs and products, relationships, opportunities, technology and market conditions. Such forward-looking statements involve certain risks and uncertainties. These include, but are not limited to, the direction of movement in interest rates, the possibility of disruption in credit markets, successful implementation and integration of acquisitions, the effects of economic conditions and the impact of legal barriers and structures. Actual results may differ from such forward- looking statements. The Corporation assumes no obligation for updating any such forward-looking statements at any time.