Albina Community Bancorp (OTCBB:ACBC), Portland's only certified community development bank, announced today that it has received a $247,000 Bank Enterprise Award (BEA), from the U.S. Department of the Treasury's Community Development Financial Institution Fund (CDFI), for its 2010 community development work in Portland, Oregon. CDFI funds are awarded to viable financial institutions that have the financial and managerial capacity to provide affordable and appropriate financial products and services that positively impact their communities.

"The BEA Program directly recognizes community banks that provide vital investments into low-income and distressed neighborhoods across the nation. This year's awardees also stand out as depository institutions that acted upon the need for economic growth in underserved areas, generating significant impacts for communities that have traditionally struggled to obtain financing. The awards recognize depository institutions that choose to increase their community development activities to communities most in need," said CDFI Fund Director Donna J. Gambrell. Albina is one of eight commercial banks on the West Coast and the only commercial bank in the Northwest to be honored this year. The BEA Award recognizes Albina's work in Portland's census tracts where at least 30 percent of the population lives at or below the national poverty level and where the unemployment rate is 1.5 times above the national average.

"We are once again honored to receive this cash award that will further expand our bank's capital and lending ability," stated Cheryl L. Cebula, Albina Community Bank President and Chief Executive Officer. "As a bank that was founded to support our local neighborhoods, we continue to do everything we can to help inspire job creation and extend financial opportunity in the neighborhoods where it's most needed. This year's award brings Albina's total funding from the CDFI Fund to more than $5 million, reflecting our dedication to supporting community and economic development initiatives."

Through the BEA Award program, the CDFI Fund awards financial institutions for increasing the investment they make in community development activities. In this fiscal year 2011 round of the BEA Program, the U.S Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded over $22 million to 77 depository institutions for serving economically distressed communities across the nation. The BEA Program awardees were selected after a comprehensive review of 82 applications received by the CDFI Fund from financial institutions across the nation that qualified for more than $68 million in funding under the FY 2011 round. All depository institutions insured by the Federal Deposit Insurance Corporation (FDIC) are eligible to apply for a BEA Program award.

About Albina Community Bancorp

Albina Community Bancorp was established in 1995 as a bank holding company headquartered in Portland, Oregon. Albina Community Bank, its first subsidiary, is a full-service independent commercial bank that provides a full range of banking products and services, while maintaining the bank's mission to promote jobs, growth of small businesses, and wealth in our local Portland neighborhoods. One of just 61 commercial banks across the country certified by the U.S. Treasury Department as a community development financial institution. Albina Community Bank is locally owned, and operated out of five local Portland locations including offices at: 2002 NE Martin Luther King Jr. Boulevard; 8040 N. Lombard in the St. Johns neighborhood; 4020 NE Fremont in the Beaumont neighborhood; 5636 NE Sandy Boulevard in the Rose City Park neighborhood of the International District; and 430 NW 10th Avenue in Portland's Pearl District. For more information about Albina Community Bank, please call 503-287-7537 or visit www.albinabank.com.

About the BEA Program

The BEA Program was enacted to provide an incentive to FDIC-insured banks and thrifts to increase either their level of support to certified CDFIs or increase their provision of loans, investments, and financial services in distressed communities, such as opening new savings accounts, providing mortgages or investing in local small businesses, or both. CDFIs are specialized community-based financial institutions that are able to respond to gaps that exist in their local markets.

Through the BEA Program, the CDFI Fund recognizes the key role played by some mainstream depository institutions in promoting community revitalization through the provision of essential financial services, credit, and investment capital. The BEA Program complements the community development activities of banks and thrifts by providing financial incentives to further expand their investments in CDFIs and to increase lending, investment, and service activities within economically distressed communities. Providing monetary awards for increasing community development activities leverages the CDFI Fund's dollars and puts more capital to work in distressed communities throughout the nation.

About the CDFI Fund

Since its creation in 1994, the CDFI Fund has awarded almost $1.3 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the Bank Enterprise Awards program, and the Native American CDFI Assistance program. In addition, the CDFI Fund has allocated $29.5 billion in tax credit authority to community development entities through the New Markets Tax Credit Program.

For more information on the CDFI Program, please visit www.cdfifund.gov

Albina Community Bank
President & Chief Executive Officer
Cheryl L. Cebula, 503-288-7296