PORTLAND, OR -- (MARKET WIRE) -- 06/20/2006 -- Stephen Mitchell, chief financial officer of MercyCorps, has been elected to the board of directors of Capital Pacific Bank (OTCBB: CPFB).

"Steve's expertise and perspective make him a great addition to our board," said Mark C. Stevenson, chief executive officer of Capital Pacific Bank. "As a senior executive of a highly respected, complex nonprofit organization and a former commercial banker and certified public accountant, he understands treasury management and corporate finance inside out. Additionally, his relationships and knowledge of the financial needs of nonprofit organizations will help us accelerate the growth of our business in that market sector."

Mitchell has more than two decades of domestic and international finance and banking experience. He joined MercyCorps, a $215 million worldwide humanitarian relief and development agency, in 2002 as vice president of finance and was promoted to CFO shortly thereafter. In addition to overseeing the agency's international finance and accounting functions in 30 countries, he directs MercyCorps' innovative microfinance projects around the world. Stevenson worked with Mitchell last year on a project for XacBank, a $57 million commercial bank microfinance institution headquartered in Ulaanbaatar, Mongolia.

Prior to joining MercyCorps, Mitchell was vice president and division manager of U.S. Bank's Financial Institutions lending and treasury management efforts in six western states. He began his career in finance as an accountant for Price Waterhouse. Mitchell earned his MBA in finance from the University of California and his undergraduate degree from Brigham Young University.

Capital Pacific Bank (OTCBB: 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.