PORTLAND, OR -- (MARKET WIRE) -- 05/18/2006 -- Thomas Tomjack has been elected chairman of the board of Capital Pacific Bank (OTC BB: CPFB). The board of directors also elected Richard Alexander to serve as vice chairman.

Tomjack is chairman and past chief executive officer of the North Pacific Group, one of the world's largest distributors of building materials, hardwoods and specialty products. Alexander is the founder and former CEO of window and door manufacturer Viking Industries. Both men have served on the board since Capital Pacific Bank's inception in 2003.

"I am delighted to work with Dick Alexander and our excellent board and management team as Capital Pacific Bank evolves into the outstanding financial services company we envisioned," said Tomjack. "With the bank's growth and reputation in the business community, we have an opportunity to build on the momentum and create strategic alliances that will continue to enhance the customer experience as well as shareholder value. This is an exciting time for Capital Pacific."

Capital Pacific Bank (OTC BB: CPFB) serves businesses, professionals and nonprofit organizations with comprehensive banking solutions and an elite level of service. Headquartered in the Fox Tower in downtown Portland, the bank's full array of products and services are delivered through a strategic combination of highly experienced client service officers and the innovative application of technology. Capital Pacific reported total assets of $85.8 million as of March 31, 2006. For more information, visit www.capitalpacificbank.com.