Personnel expense for 2006 was $4.9 million compared to $3.9 million in 2005, an increase of 26%. In the fourth quarter of 2006, personnel expense was $1.3 million as compared to $1.1 million for the fourth quarter 2005. In the third quarter 2006, personnel expense totaled $1.3 million. The Bank's staff consisted of 53 full-time-equivalent employees at December 31, 2006, as compared to 41 at December 31, 2005. The total at September 30, 2006 was 47.

Occupancy expense for 2006 amounted to $392 thousand, unchanged from 2005. In the fourth quarter of 2006, occupancy expense was $109 thousand compared to $93 thousand for the fourth quarter 2005. In the third quarter of 2006, occupancy expense totaled $96 thousand.

Trust operating expense for 2006 was $512 thousand, compared to $383 thousand in 2005. The increase reflects higher volumes of activity. Trust operating expense totaled $161 thousand in the fourth quarter of 2006, compared to $49 thousand in the fourth quarter of 2005 and $120 thousand in the third quarter of 2006. The 2005 expense includes the benefit of a $67 thousand refund received in the fourth quarter for certain charges that had been erroneously assessed to and paid by the Bank.

Other expense totaled $2.4 million for 2006 compared to $2.5 million in 2005. For the fourth quarter 2006, other expense totaled $631 thousand, compared to $620 thousand for the fourth quarter 2005 and $606 thousand for the third quarter of 2006. For the full year 2005, and the fourth quarter of 2005 other expense includes $417 thousand and $42 thousand respectively in prepayment fees for the early redemption of certain fixed-rate long-term borrowings. There were no prepayment fees in 2006.

Total non-interest expense for 2006 was $8.2 million, compared to $7.1 million in 2005. During 2006, total non-interest expense grew by 15% as compared to a growth of 18% in 2005. In the fourth quarter 2006, total non-interest expense amounted to $2.2 million, compared to $1.9 million in the fourth quarter of 2005 and $2.1 million in the third quarter of 2006. As previously mentioned, the fourth quarter reflects accruals for variable compensation along with a one-time adjustment to facilitate the settlement of a claim.

ASSET QUALITY

The allowance for loan losses was $1.24 million, or 0.95% of total loans at December 31, 2006; $1.18 million, or 0.92% of total loans at September 30, 2006 and $937 thousand, or 0.80% of total loans at December 31, 2005. The increase in the allowance reflects management's judgment as to the uncertainties in the current economic environment and an unsettled real estate market, combined with the increased proportion of the Bank's portfolio represented by small business and commercial loans.

At December 31, 2006, there were non-performing assets in the Bank's portfolio totaling $87 thousand, or 0.07% of loans. The Bank had no non-performing assets at December 31, 2005. No loans were charged off during 2006 or during 2005. The complete absence or minimal levels of non-performing assets and charge-offs are not typical of the industry and may not be sustainable in the future.

CAPITAL

Stockholders' equity totaled $19.1 million at December 31, 2006, compared to $18.3 million at September 30, 2006, and $16.0 million at December 31, 2005. The increase in stockholders' equity during 2006 primarily reflects the earnings during the period, plus the issuance of shares to cover the Bank's contribution of $130 thousand to its 401(k) plan, additional capital of $370 thousand from the exercise of options, and a decrease in unrealized losses on securities classified as available-for-sale of $104 thousand net of applicable federal tax.

All the regulatory capital ratios of the Bank are in excess of the "well-capitalized" threshold.

THE COMPANY

Christiana Bank and Trust Company, headquartered in Greenville, Delaware, is listed on the OTC Bulletin Board under the symbol "CBTD." The Bank provides personal and commercial banking as well as trust and asset management services from locations in Greenville and Wilmington, Delaware. In addition, Christiana Corporate Services, Inc., a wholly owned subsidiary, provides commercial domicile and agency services in Delaware. Monarch Management Services LLC, wholly owned by Christiana Corporate Services, Inc., provides commercial domicile services in Delaware. Christiana Trust Company LLC, a non-depository trust company, wholly owned by the Bank, provides commercial domicile and trust services in Nevada.

Forward-looking Statements

This news release contains forward-looking statements. Such statements are subject to certain factors that may cause the Bank's results to vary from those expected. These factors include changing economic and financial market conditions, competition, ability to execute the Bank's business plan, items already mentioned in this press release and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of this date. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect events and circumstances that arise after the date of this release.

CHRISTIANA BANK AND TRUST CO SELECTED CONSOLIDATED BALANCE SHEETS (unaudited) (000)

Dollar amounts in thousands Dec-06 Sep-06 Jun-06 Mar-06 Dec-05

Cash and due from banks $ 5,368 $ 7,854 $ 26,107 $ 6,092 $ 20,776 Investment securities 23,172 20,985 20,952 21,137 21,260

Loans (net of unearned income) 130,766 128,687 128,667 122,832 116,974 Allowance for loan losses 1,240 1,180 1,095 1,000 937 --------- --------- --------- --------- --------- Net loans 129,526 127,507 127,572 121,832 116,037

Bank premises and equipment - net 3,061 3,102 3,107 3,044 3,095 Other assets 7,281 6,775 5,563 5,385 4,918 --------- --------- --------- --------- ---------

Total assets $ 168,408 $ 166,223 $ 183,301 $ 157,490 $ 166,086 ========= ========= ========= ========= =========

Non-interest bearing deposits $ 42,228 $ 46,278 $ 53,140 $ 39,062 $ 40,968 Savings and interest bearing demand 57,545 56,047 84,689 75,047 80,805 Time deposits 45,352 30,283 26,251 25,120 26,530 --------- --------- --------- --------- --------- Total deposits 145,125 132,608 164,080 139,229 148,303

Borrowings 1,000 12,800 - - - Other liabilities 3,170 2,555 1,959 1,691 1,799 --------- --------- --------- --------- ---------

Total liabilities 149,295 147,963 166,039 140,920 150,102

Total stockholders' equity 19,113 18,260 17,262 16,570 15,984 --------- --------- --------- --------- ---------

Total liabilities and stockholders' equity $ 168,408 $ 166,223 $ 183,301 $ 157,490 $ 166,086 ========= ========= ========= ========= =========

Certain reclasses have been made to conform prior periods to current period presentation.

CHRISTIANA BANK AND TRUST CO SELECTED CONSOLIDATED FINANCIAL DATA (unaudited) (000)

Income Statement For the three months ended Year to (unaudited) Date Dollar amounts in thousands Dec-06 Sep-06 Jun-06 Mar-06 Dec-05 Dec-06 Dec-05

Total interest income $ 2,959 $ 2,945 $ 2,867 $ 2,519 $ 2,394 $11,290 $ 8,350 Total interest expense 1,189 1,130 1,024 871 710 4,214 2,336 ------- ------- ------- ------- ------- ------- ------- Net interest income 1,770 1,815 1,843 1,648 1,684 7,076 6,014 Provision for loan losses 60 85 95 63 17 303 118 ------- ------- ------- ------- ------- ------- -------

Net interest income after provision 1,710 1,730 1,748 1,585 1,667 6,773 5,896

Trust fees 1,548 1,399 1,193 916 912 5,056 3,271 Service fees and other income 95 90 94 102 83 381 350 Gain on sale of securities - - - - - - - ------- ------- ------- ------- ------- ------- ------- Total non-interest income 1,643 1,489 1,287 1,018 995 5,437 3,621

Total revenues 3,353 3,219 3,035 2,603 2,662 12,210 9,517 ------- ------- ------- ------- ------- ------- -------

Personnel expenses 1,319 1,262 1,248 1,054 1,090 4,883 3,885 Occupancy expense 109 96 93 94 93 392 392 Trust operating expense 161 120 103 128 49 512 383 Other expense 631 606 540 668 620 2,445 2,477 ------- ------- ------- ------- ------- ------- ------- Total non-interest expense 2,220 2,084 1,984 1,944 1,852 8,232 7,137

Income before taxes 1,133 1,135 1,051 659 810 3,978 2,380 Federal and state income taxes 409 422 372 243 298 1,446 848 ------- ------- ------- ------- ------- ------- -------

Net income $ 724 $ 713 $ 679 $ 416 $ 512 $ 2,532 $ 1,532 ======= ======= ======= ======= ======= ======= =======

Certain reclasses have been made to conform prior periods to current period presentation.

CHRISTIANA BANK AND TRUST CO

SELECTED CONSOLIDATED FINANCIAL DATA (unaudited)

Dollar amounts in thousands share and per share data For and at the Three Months Ended Dec-06 Sep-06 Jun-06 Mar-06 Dec-05 Share Data * Book value per share (period end) $ 12.89 $ 12.37 $ 11.76 $ 11.32 $ 11.04 Earnings per share (basic) $ 0.49 $ 0.48 $ 0.46 $ 0.29 $ 0.35 Earnings per share (diluted) $ 0.44 $ 0.44 $ 0.42 $ 0.26 $ 0.33 Basic shares 1,480,227 1,489,763 1,466,624 1,457,094 1,444,751 Diluted shares 1,643,598 1,638,862 1,607,636 1,606,468 1,547,667 Selected Averages Average Gross Loans $ 129,903 $ 128,851 $ 126,563 $ 119,368 $ 114,343 Average total deposits $ 128,147 $ 131,766 $ 145,738 $ 130,809 $ 123,990 Average earning assets (1) $ 156,125 $ 155,418 $ 162,615 $ 144,542 $ 141,307 Selected Performance Ratios Return on average assets 1.74% 1.73% 1.60% 1.11% 1.36% Return on average equity 15.45% 15.95% 16.08% 10.33% 12.97% Net interest margin 4.50% 4.63% 4.55% 4.62% 4.73% Non-interest income as % of revenue 49.01% 46.26% 42.41% 39.11% 37.38% Non-interest income as % of average assets 3.97% 3.63% 3.02% 2.67% 2.67% Non-interest expense as % of average assets 5.36% 5.09% 4.65% 5.10% 4.97% Asset Quality Net chargeoffs $ - $ - $ - $ - $ - Non-performing loans $ 87 $ - $ - $ - $ - Allowance for loan losses to total loans (period end) 0.95% 0.92% 0.85% 0.81% 0.80% Non-performing loans to total loans (period end) 0.07% 0.00% 0.00% 0.00% 0.00% Capital Stockholders' equity to total assets (period end) 11.35% 10.99% 9.42% 10.52% 9.62% Tier 1 leverage ratio 11.64% 11.28% 10.34% 11.07% 10.91% Tier 1 capital to risk- weighted assets 12.81% 12.48% 11.63% 11.76% 11.73% Total capital to risk- weighted assets 13.63% 13.27% 12.36% 12.46% 12.40% Dollar amounts in thousands except share and per share data Year to Date Dec-06 Dec-05 Share Data * Book value per share (period end) $ 12.89 $ 11.04 Earnings per share (basic) $ 1.72 $ 1.07 Earnings per share (diluted) $ 1.56 $ 1.02 Basic shares 1,470,187 1,436,042 Diluted shares 1,618,749 1,495,437 Selected Averages Average Gross Loans $ 126,207 $ 108,970 Average total deposits $ 134,101 $ 119,242 Average earning assets (1) $ 154,709 $ 136,661 Selected Performance Ratios Return on average assets 1.55% 1.06% Return on average equity 14.55% 10.16% Net interest margin 4.57% 4.40% Non-interest income as % of revenue 44.53% 38.05% Non-interest income as % of average assets 4.44% 3.34% Non-interest expense as % of average assets 6.73% 6.58% Asset Quality Net chargeoffs $ - $ - Non-performing loans $ 87 $ - Allowance for loan losses to total loans (period end) 0.95% 0.80% Non-performing loans to total loans (period end) 0.07% 0.00% Capital Stockholders' equity to total assets (period end) 11.35% 9.62% Tier 1 leverage ratio 11.64% 10.91% Tier 1 capital to risk-weighted assets 12.81% 11.73% Total capital to risk-weighted assets 13.63% 12.40% (1) Earning assets include loan balances before loan loss reserve and AFS investments before unrealized holding gains or losses. Certain reclasses have been made to conform prior periods to current period presentation. * Adjusted, where appropriate,for 5% stock Dividend distributed November 30, 2006 and the special stock dividend distributed August 31, 2006.

Contacts: Zissimos A. Frangopoulos President & CEO (302) 888-7401 zissf@cbt-de.com

Chris J Cusatis Senior Vice President & CFO (302) 888-7730 ccusatis@cbt-de.com

SOURCE: Christiana Bank & Trust Company

Source: marketwire