MTXC Matrix Bancorp

Matrix Bancorp, Inc. (NASDAQ:MTXC) (the "Company") announced today that its Matrix Capital Bank subsidiary has appointed a new regional president for its third community bank branch in Boulder, Colo. Concurrently, Matrix Capital Bank chose the site for its new Boulder location. Margie Joseph brings about 15 years of commercial banking experience to her new role as president of the Boulder location. Most recently, Joseph served as vice president/relationship manager for commercial banking at Vectra Bank in Boulder (Parent: Zions Bancorporation - NASDAQ:ZION), where she focused on developing and maintaining commercial banking relationships. In 2005, Joseph was named a top performer in Vectra Bank's Commercial Banking Group, having exceeded sales expectations and been consistently recognized for achieving revenue goals. Additionally, she has been extensively involved in a range of community-minded activities on behalf of Vectra. Previously, she was a relationship manager in the business banking division of corporate banking for Compass Bank (NASDAQ:CBSS) in Boulder. Joseph also spent several years at U.S. Bancorp in Boulder (NYSE:USB), first as an assistant relationship manager and prior, a credit analyst. Patricia Myrick also joins the Company, as vice president of branch operations and commercial banking. Her banking career spans 17 years; most recently she was branch manager at Vectra Bank in Boulder. Myrick brings extensive commercial bank operations and customer service experience to the organization. Both Joseph and Myrick will be based out of Matrix Capital Bank's recently selected Boulder branch, at the intersection of Arapahoe and 28th Streets, located at the gateway entrance from Interstate 36 into Boulder proper. Once open, this facility will become the Bank's flagship Boulder-branch headquarters. The building will occupy the full corner lot, providing exceptional access and capability for a drive-through banking operation and exposure to approximately 80,000 vehicles per day. It is expected that the branch site, which will be leased upon satisfaction of final due diligence, will become operational in the second half of 2006. Scot T. Wetzel, the Company's president and chief executive officer and chairman, president and chief executive officer of Matrix Capital Bank, said: "We welcome Margie and Pat to our banking family and believe they will be valuable additions to our organization as we build and sustain our community banking relations in Boulder. Their extensive commercial banking experience in the Boulder market will serve as an excellent foundation as we seek to expand our business in what we believe to be one of Colorado's most thriving banking markets. "We continue to execute on our expanded business strategy and Margie's appointment is indicative of our ability to identify veteran seasoned bankers with deep roots within Colorado's key markets who can serve as presidents of the community branches we are building. This marks our third location and as previously stated, we plan to grow this franchise to about five to seven community-based branches during the next three to five years. We are certainly on track to accomplish this," Wetzel explained. Joseph added: "Joining Matrix Capital Bank is an excellent opportunity. I will have a chance to build the business from the ground up in Boulder, where I have developed significant relationships and a solid footing during the seven years I've spent here. I am excited to be part of Matrix' mission to build a community bank franchise across Colorado's Front Range and to oversee the Boulder operation, which represents an important geographic area in this mix. I look forward to the contributions I will make in my new role." Joseph resides in Broomfield, Colo. She earned a Bachelor of Arts degree in political science and communication from the University of Colorado at Boulder and a master's degree in business administration from the University of Southern California in Los Angeles. Locally, Joseph is affiliated with many organizations and community chapters. She works with the Emergency Family Assistance Association Guild as well as the Boulder Rotary, and serves on the United Way Finance Committee. Previously, she was event chair and on the steering committee for the Boulder Chamber of Commerce-Business Women's Leadership Group and the committee chair for the Humane Society of Boulder Valley. Myrick is relocating to Broomfield. She earned a Bachelor of Science in business administration from the University of Colorado-Denver campus. Denver-based Matrix Bancorp, Inc. is focused on developing its community-based banking network through its Matrix Capital Bank subsidiary by strategically positioning branches across Colorado's Front Range market. The Bank plans to grow its network to an estimated five to seven community-based branches over the next three to five years. The Company recently identified "United Western" as its proposed new brand name and anticipates a formal change in legal and trade names during second or third quarter of 2006, after receiving applicable regulatory and shareholder approvals. At December 31, 2005, the Company reported total consolidated assets of $2.1 billion, total loans of $1.4 billion, total deposits of $1.1 billion and total consolidated shareholders equity of $180.7 million (includes proceeds used for the Company's January 2006 tender offer). For more information, please visit www.matrixbancorp.com. Certain statements contained in this press release that are not historical facts, including, but not limited to, statements that can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "predict," "believe," "plan," "estimate" or "continue" or the negative thereof or other variations thereon or comparable terminology, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements in this interim report could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: the timing of regulatory approvals or consents for new branches or other contemplated actions; the availability of suitable and desirable locations for additional branches; the continuing strength of our existing business, which may be affected by various factors, including, but not limited to, interest rate fluctuations; level of delinquencies; defaults and prepayments; general economic conditions; competition; the delay in or failure to receive any required shareholder approvals of the contemplated actions; the risks and uncertainties discussed elsewhere in the Company's Annual Report on Form 10-K for the year ended December 31, 2004, and in the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on November 7, 2005; and the uncertainties set forth from time to time in the Company's periodic reports, filings and other public statements.