<PAGE>
                                                                      EXHIBIT 13

                       COMMUNITY CENTRAL BANK CORPORATION

                Report of Independent Registered Accounting Firm

                                       and

                               Stockholder Report

                                December 31, 2004
<PAGE>
REPORT OF INDEPENDENT REGISTERED ACCOUNTING FIRM

Board of Directors and Stockholders
Community Central Bank Corporation
Mount Clemens, Michigan

We have audited the accompanying consolidated balance sheet of Community Central
Bank Corporation as of December 31, 2004 and 2003, and the related consolidated
statements of income, comprehensive income, changes in stockholders' equity, and
cash flows for the years ended December 31, 2004, 2003 and 2002. These
consolidated financial statements are the responsibility of the Corporation's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the
consolidated financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the consolidated financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the consolidated financial position of
Community Central Bank Corporation as of December 31, 2004, and 2003, and the
results of its operations for the years ended December 31, 2004, 2003 and 2002,
in conformity with U.S. generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the
consolidated basic financial statements taken as a whole. The information
contained in Notes 3, 4, 5, and 8 pertaining to 2002, 2001 and 2000 is presented
for the purposes of additional analysis and is not a required part of the
consolidated basic financial statements. Such information has been subjected to
the auditing procedures applied in the audit of the basic financial statements
and, in our opinion, is fairly stated in all material respects in relation to
the basic financial statements taken as a whole.


/S/ PLANTE & MORAN, PLLC

Auburn Hills, Michigan
March 4, 2005
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED BALANCE SHEET

<TABLE>
<CAPTION>
                                                                  December 31,
                                                              -------------------
                                                                2004       2003
                                                              --------   --------
                                                                 (In thousands)
<S>                                                           <C>        <C>
Assets

Cash and Cash Equivalents
   Cash and due from banks (Note 2)                           $  4,183   $  5,127
   Federal funds sold                                            3,000      1,100
                                                              --------   --------
   Total Cash and Cash Equivalents                            $  7,183   $  6,227

Securities available for sale, at fair value (Note 3)           51,425     57,135
Securities held to maturity, at amortized cost (Note 3)          1,161        895
FHLB stock                                                       3,246      3,103
Residential mortgage loans held for sale                         6,491      7,241

Loans (Note 4)
   Commercial real estate                                      166,686    149,769
   Commercial and industrial                                    40,614     39,330
   Residential real estate                                      64,240     60,046
   Home equity lines of credit                                  18,864     11,217
   Consumer loans                                               14,377      9,844
   Credit card loans                                               658        622
                                                              --------   --------
   Total Loans                                                 305,439    270,828
Allowance for credit losses (Note 5)                            (3,377)    (3,573)
                                                              --------   --------
   Net Loans                                                   302,062    267,255

Net property and equipment (Note 6)                              6,921      3,977
Accrued interest receivable                                      1,391      1,305
Other real estate                                                  681        363
Goodwill (Note 1)                                                  743        743
Core deposit intangible, net of amortization (Note 1)              134        248
Cash surrender value of Bank Owned Life Insurance (Note 13)      7,519      7,222
Other assets (Note 16)                                           2,581      2,162
                                                              --------   --------
   Total Assets                                               $391,538   $357,876
                                                              ========   ========
</TABLE>

The accompanying notes are an integral part of the financial statements.


                                        1
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED BALANCE SHEET

<TABLE>
<CAPTION>
                                                                     December 31,
                                                                 -------------------
                                                                   2004       2003
                                                                 --------   --------
                                                                    (In thousands,
                                                                  except share data)
<S>                                                              <C>        <C>
Liabilities

Deposits
   Noninterest bearing demand deposits                           $ 32,080   $ 33,814
   NOW and money market accounts                                   40,446     41,484
   Savings deposits                                                20,539      6,389
   Time deposits (Note 7)                                         185,791    173,669
                                                                 --------   --------
   Total Deposits                                                 278,856    255,356

Repurchase agreements  (Note 8)                                    11,492     12,836
Federal Home Loan Bank advances (Note 9)                           63,360     54,374
Accrued interest payable                                              780        511
Other liabilities (Note 13)                                           944        752
ESOP note payable (Note 10)                                           205        271
Subordinated debentures (Note 11)                                  10,310     10,000
                                                                 --------   --------
   Total Liabilities                                              365,947    334,100

Stockholders' Equity (Note 12)

   Common stock ($5 stated value; 9,000,000 shares authorized,
      and 2,864,907 issued and outstanding at
      12-31-2004 and 2,721,875 at 12-31-2003)                      14,325     13,609
   Additional paid-in capital                                       6,449      5,308
   Accumulated surplus                                              5,111      5,225
   Unearned employee benefit                                         (205)      (271)
   Accumulated other comprehensive (loss) income                      (89)       (95)
                                                                 --------   --------
   Total Stockholders' Equity                                      25,591     23,776
                                                                 --------   --------
   Total Liabilities and Stockholders' Equity                    $391,538   $357,876
                                                                 ========   ========
</TABLE>

The accompanying notes are an integral part of the financial statements.


                                        2
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF INCOME

<TABLE>
<CAPTION>
                                                             Year Ended December 31,
                                                           ---------------------------
                                                             2004      2003      2002
                                                           -------   -------   -------
                                                                  (In thousands,
                                                              except per share data)
<S>                                                        <C>       <C>       <C>
Interest Income
   Loans (including fees)                                  $17,498   $14,437   $12,284
   Taxable securities                                        1,641     1,505     2,076
   Tax exempt securities                                       481       388       316
   Federal funds sold                                          105        90       280
                                                           -------   -------   -------
   Total Interest Income                                    19,725    16,420    14,956

Interest Expense
   NOW and money market accounts                               426       436       307
   Savings deposits                                            240        36        65
   Time deposits                                             4,725     4,103     4,564
   Repurchase agreements                                       109       112       146
   Federal Home Loan Bank advances                           1,878     1,828     1,016
   Capitalized lease obligation                                 --        --       130
   ESOP loan interest expense                                   10        13        17
   Subordinated debentures                                     548       505       288
                                                           -------   -------   -------
   Total Interest Expense                                    7,936     7,033     6,533
                                                           -------   -------   -------
   Net Interest Income                                      11,789     9,387     8,423
Provision for credit losses (Note 5)                         2,000       275       755
                                                           -------   -------   -------
   Net Interest Income after provision for credit losses     9,789     9,112     7,668

Noninterest Income
   Deposit service charges                                     298       235       213
   Net realized security gain (Note 3)                         191       417       262
   Mortgage banking income                                   5,256     7,378     4,847
   Other income                                                801       385       189
                                                           -------   -------   -------
   Total Noninterest Income                                  6,546     8,415     5,511

Noninterest Expense
   Salaries, benefits and payroll taxes (Note 13)            7,890     9,418     6,447
   Net occupancy expense (14)                                1,498     1,268     1,155
   Other operating expense (Note 15)                         3,958     3,896     2,939
                                                           -------   -------   -------
   Total Noninterest Expense                                13,346    14,582    10,541
                                                           -------   -------   -------
Income Before Taxes                                          2,989     2,945     2,638
   Provision for Income Tax Expense (Note 16)                  782       840       828
                                                           -------   -------   -------
Net Income                                                 $ 2,207   $ 2,105   $ 1,810
                                                           =======   =======   =======
</TABLE>

The accompanying notes are an integral part of the financial statements.


                                        3
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF INCOME
(continued)

<TABLE>
<CAPTION>
                      Year Ended December 31,
                      -----------------------
                        2004    2003    2002
                       -----   -----   -----
                       (In thousands, except
                          per share data)
<S>                   <C>      <C>     <C>
Per share data:
   Basic earnings      $0.78   $0.75   $0.66

   Diluted earnings    $0.76   $0.74   $0.65
                       =====   =====   =====
   Cash Dividends      $0.20   $0.20   $0.15
                       =====   =====   =====
</TABLE>

*    Per share data has been retroactively adjusted for stock dividend.


                                        4
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

<TABLE>
<CAPTION>
                                                         Year Ended December 31,
                                                        ------------------------
                                                         2004     2003     2002
                                                        ------   ------   ------
                                                             (In thousands)
<S>                                                     <C>      <C>      <C>
Net Income as Reported                                  $2,207   $2,105   $1,810

Other Comprehensive Income
   Change in unrealized net (loss) gain on securities
      available for sale, net of tax of $2 in 2004,
      ($228) in 2003, and $94 in 2002                        6     (440)     183
                                                        ------   ------   ------
Comprehensive Income                                    $2,213   $1,665   $1,993
                                                        ======   ======   ======
</TABLE>

The accompanying notes are an integral part of the financial statements.


                                        5
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

<TABLE>
<CAPTION>
                                           Additional              Unearned   Accumulated Other
                                  Common     Paid-in    Retained   Employee     Comprehensive      Total
                                  Stock      Capital    Earnings   Benefits     Income (Loss)      Equity
                                 -------   ----------   --------   --------   -----------------   -------
                                                              (In thousands)
<S>                              <C>       <C>          <C>        <C>        <C>                 <C>
Balance January 1, 2002          $13,309     $5,009     $ 2,368     ($371)          $ 162         $20,477

Cash dividend                         --         --        (401)       --              --            (401)
Stock options exercised               45         23          --        --              --              68
Repurchase 5,000 shares              (25)        --         (18)       --              --             (43)
Net income for 2002                   --         --       1,810        --              --           1,810
Release of ESOP shares                --          3          --        50              --              53
Other comprehensive income            --         --          --        --             183             183
                                 -------     ------     -------     -----           -----         -------
Balance December 31, 2002        $13,329     $5,035     $ 3,759     ($321)          $ 345         $22,147

Cash dividend                         --         --        (541)       --              --            (541)
Stock options exercised              378        252          --        --              --             630
Repurchase 5,000 shares              (98)        --         (98)       --              --            (196)
Net income for 2003                   --         --       2,105        --              --           2,105
Release of ESOP shares                --         21          --        50              --              71
Other comprehensive income            --         --          --        --            (440)           (440)
                                 -------     ------     -------     -----           -----         -------
Balance December 31, 2003        $13,609     $5,308     $ 5,225     ($271)           ($95)        $23,776
                                 =======     ======     =======     =====           =====         =======

Cash dividend                         --         --        (571)       --              --            (571)
Stock options exercised/awards        36         37          --        --              --              73
Stock dividend                       680      1,070      (1,750)       --              --              --
Net income for 2004                   --         --       2,207        --              --           2,207
Release of ESOP shares                --         34          --        66              --             100
Other comprehensive income            --         --          --        --               6               6
                                 -------     ------     -------     -----           -----         -------
Balance December 31, 2004        $14,325     $6,449     $ 5,111     ($205)           ($89)        $25,591
                                 =======     ======     =======     =====           =====         =======
</TABLE>

The accompanying notes are an integral part of the financial statements.


                                        6
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOW

<TABLE>
<CAPTION>
                                                                              Year Ended December 31,
                                                                         ---------------------------------
                                                                            2004        2003        2002
                                                                         ---------   ---------   ---------
                                                                                   (In thousands)
<S>                                                                      <C>         <C>         <C>
Operating Activities
   Net income                                                            $   2,207   $   2,105   $   1,810
   Adjustments to reconcile net income to net
      cash flow from operating activities:
      Net accretion of security discount                                       392         786         460
      Net gain on available for sale securities                               (191)       (417)       (262)
      Provision for credit losses                                            2,000         275         755
      Depreciation expense                                                     458         404         429
      Loss on disposal of property and equipment                                40          --          12
      Deferred income tax                                                      255          --          --
      ESOP compensation expense                                                100          71          53
      (Decrease) increase in accrued interest receivable                       (86)         59         (22)
      (Decrease) increase in other assets                                     (549)         53      (1,004)
      Increase (decrease) in accrued interest payable                          269         (17)         45
      Increase in other liabilities                                            192         131         447
      Loans originated held for sale                                      (172,831)   (245,012)   (160,296)
      Loans sold held for sale                                             173,581     249,016     154,061
      Increase in other real estate                                           (318)        (43)       (320)
                                                                         ---------   ---------   ---------
   Net Cash Provided By (Used In) Operating Activities                       5,519       7,411      (3,832)

Investing Activities
   Net cash acquired from the purchase and assumption of NOCB                   --       4,261          --
   Maturities, calls, and prepayments of securities available for sale      79,180      89,007      53,541
   Purchases of securities available for sale                              (73,648)    (89,979)    (66,334)
   Maturities, calls, and prepayments of held to maturity securities            95         892         592
   Purchases of held to maturity securities                                   (519)     (1,329)     (2,019)
   Increase in loans                                                       (36,807)    (49,289)    (50,146)
   Purchases of property and equipment                                      (3,442)     (2,264)       (558)
   Proceeds from sale of property and equipment                                 --          --           7
   Purchase of Bank Owned Life Insurance                                        --      (7,000)         --
                                                                         ---------   ---------   ---------
   Net Cash Used in Investing Activities                                   (35,141)    (55,701)    (64,917)

Financing Activities
   Net increase (decrease) in demand and savings deposits                   11,378        (148)     15,187
   Net increase (decrease) in time deposits                                 12,122      31,552      (6,782)
   Net (decrease) increase in short term borrowings                         (1,344)      4,830       1,267
   Subordinated debentures                                                      --          --      10,000
   FHLB advances                                                            29,000      29,900      36,000
   FHLB advance repayments                                                 (20,014)    (19,914)     (5,012)
   Repayment of capitalized lease obligation                                    --        (951)       (172)
   Payment of ESOP debt                                                        (66)        (50)        (50)
   Stock options exercised                                                      73         630          68
   Cash dividends paid                                                        (571)       (541)       (401)
   Repurchase of stock                                                          --        (196)        (43)
                                                                         ---------   ---------   ---------
   Net Cash Provided by Financing Activities                                30,578      45,112      50,062
   Increase (decrease) in Cash and Cash Equivalents                            956      (3,178)    (18,687)
   Cash and Cash Equivalents at the Beginning
      of the Period                                                          6,227       9,405      28,092
                                                                         ---------   ---------   ---------
   Cash and Cash Equivalents at the End of the Period                    $   7,183   $   6,227   $   9,405
                                                                         =========   =========   =========
Supplemental Disclosure of Cash Flow Information
   Interest paid                                                         $   7,667   $   7,005   $   6,488
   Federal Taxes Paid                                                    $     650   $   1,026   $   1,035
                                                                         =========   =========   =========
</TABLE>

The accompanying notes are an integral part of the financial statements.


                                        7
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2004 and 2003

(1)  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting and reporting policies of Community Central Bank Corporation (the
"Corporation") conform to accounting principles generally accepted in the United
States of America. Management is required to make estimates and assumptions that
affect the amounts reported in the financial statements and accompanying notes.
Actual results could differ from those estimates and assumptions. Material
estimates that are particularly susceptible to significant change in the near
term relate to the determination of the allowance for loan losses, the valuation
of foreclosed real estate, and deferred tax assets.

PRINCIPLES OF CONSOLIDATION: The consolidated financial statements include the
accounts of the Corporation and its wholly-owned subsidiaries, Community Central
Bank (the "Bank") and Community Central Mortgage Company, LLC ("the Mortgage
Company"). All significant intercompany transactions are eliminated in
consolidation. The ownership structure of the Mortgage Company consists of two
members, Community Central Bank and Community Central Bank Corporation, owning
99% and 1% of the Mortgage Company, respectively.

NATURE OF OPERATIONS: Community Central Bank Corporation is the bank holding
company for Community Central Bank in Mount Clemens, Michigan. The Corporation
opened for business in October 1996 and serves businesses and consumers across
Macomb, St. Clair and Oakland Counties with a full range of lending, deposit and
Internet banking services. The Bank operates two full service facilities; one in
Mount Clemens and the other in Rochester Hills, Michigan (see Note 21 of the
Notes to Consolidated Financial Statements). Community Central Mortgage Company,
LLC a subsidiary of the Corporation and Bank, operates locations servicing the
Detroit metropolitan area. The Corporation's common shares trade on the Nasdaq
National Market under the symbol "CCBD."

SECURITIES: On the balance sheet, securities held to maturity are stated at
cost, adjusted for amortization of premium and accretion of discount. Securities
classified as available for sale are those that may be sold in the future to
meet investment objectives of quality, liquidity, and yield, and to avoid
significant market deterioration. Securities available for sale are reported at
estimated fair value. Unrealized gain or loss on securities available for sale
is recorded (net of tax) as a component of other comprehensive income in the
equity section of the balance sheet. Gain or loss on sales or calls of
securities is computed based on the amortized cost of the specific security.

FEDERAL HOME LOAN BANK STOCK: Federal Home Loan Bank Stock ("FHLB Stock") is
considered a restricted investment security and is carried at cost. Purchases
and sales of FHLB stock are made directly with the FHLB at par value.

LOANS: Loans are generally reported at the principal amount outstanding.
Non-refundable loan origination fees and certain direct loan origination costs
are deferred and included in interest income over the term of the related loan
as a yield adjustment. Interest on loans is accrued and credited to income based
upon the principal amount outstanding. The accrual of interest on loans is
discontinued when, in the opinion of management, there is an indication that the
borrower may be unable to meet payments as they become due. Upon such
discontinuance, all unpaid interest accrued is reversed. Interest accruals are
generally resumed when all delinquent principal and/or interest has been brought
current or the loan becomes both well secured and in the process of collection.

LOANS HELD FOR SALE: Loans held for sale consist of fixed rate residential
mortgage loans with maturities of 15 to 30 years. Such loans are recorded at the
lower of aggregate cost or estimated fair value.

ALLOWANCE FOR CREDIT LOSSES: The allowance for credit losses is maintained at a
level considered by management to be adequate to absorb losses inherent in
existing loans and loan commitments. The adequacy of the allowance is based on
evaluations that take into consideration such factors as prior loss experience,
changes in the nature and volume of the portfolio, overall portfolio quality,
loan concentrations, specific impaired or problem loans and commitments, and
current and anticipated economic conditions that may affect the borrower's
ability to pay.


                                        8
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FORECLOSED ASSETS: Assets acquired through, or in lieu of, loan foreclosure are
held for sale and are initially recorded at fair value as of the date of the
foreclosure, establishing a new cost basis. Subsequent to foreclosure,
valuations are periodically performed by management and the assets are carried
at the lower of carrying amount or fair value less cost to sell. Revenue and
expenses from operations and changes in the valuation allowance are included in
net expenses from foreclosed assets.

PROPERTY AND EQUIPMENT: Property and equipment are stated at cost, less
accumulated depreciation and amortization. Depreciation, generally computed
using a declining balance method, is charged to operations over the estimated
useful lives of the assets. Leasehold improvements are amortized over the terms
of their respective leases or the estimated useful lives of the improvements,
whichever is shorter.

GOODWILL: Goodwill results from business acquisitions and represents the excess
of the purchase price over the fair value of the acquired tangible assets and
liabilities and identifiable intangible asset. Goodwill is assessed annually for
impairment and any such impairment will be recognized in the period identified.
As of December 31, 2004, the goodwill intangible asset of $743,000 had no
impairment.

CORE DEPOSIT INTANGIBLE: The core deposit intangible of $134,000 as of December
31, 2004 consists of core deposit intangible assets arising from an acquisition.
The assets were measured at fair value and are being amortized on an accelerated
method over their estimated useful lives. Amortization expense of approximately
$114,000 was recognized in 2004. Under accelerated amortization, the core
deposit intangible is expected to be fully amortized by 2008.

EARNINGS PER SHARE: Basic earnings per share are based on the weighted average
number of shares outstanding during the period. For earnings per share,
committed-to-be-released and allocated shares of the "ESOP" are considered
outstanding. Diluted earnings per share are adjusted for the dilutive effects of
stock options, where applicable.

Weighted average shares reconciliation is as follows:

<TABLE>
<CAPTION>
                           Year Ended December 31,
                          ------------------------
                             2004    2003    2002
                            -----   -----   -----
                          (In thousands of shares)
<S>                       <C>       <C>     <C>
Basic                       2,829   2,796   2,753
Effect of stock options        67      51      27
                            -----   -----   -----
Diluted                     2,896   2,847   2,780
                            =====   =====   =====
</TABLE>

STOCK OPTIONS: Options granted under the Corporation's plans are accounted for
using the intrinsic value method. Using this method, compensation expense is
recorded at the amount by which the market price of the underlying stock exceeds
the option's exercise price at the grant date. Under the Corporation's plans,
the exercise price of options granted equals the fair value of the stock at the
grant date. Accordingly, no compensation expense is recognized as a result of
stock option awards. The Corporation has adopted the pro forma disclosure-only
provisions of Statement of Financial Accounting Standards (SFAS) 123,
"Accounting for Stock-Based Compensation."


                                        9
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

COMPREHENSIVE INCOME: Accounting principles generally require that recognized
revenue, expense, gain, and loss be included in net income. Certain changes in
assets and liabilities, such as unrealized gain or loss on securities available
for sale, are reported as a separate component of equity. Such items, along with
net income, are components of comprehensive income. Accumulated other
comprehensive income at December 31, 2004, 2003 and 2002 consists solely of
unrealized gain and losses on available for sale securities, net of tax.

RECENT ACCOUNTING PRONOUNCEMENTS: In October 2002, the FASB issued SFAS No. 147,
"Acquisitions of Certain Financial Institutions". This Statement addresses the
financial accounting and reporting for the acquisition of all or part of a
financial institution, except for a transaction between two or more mutual
enterprises. This Statement removes acquisitions of financial institutions from
the scope of SFAS No. 72, "Accounting for Certain Acquisitions of Banking or
Thrift Institutions" and FASB Interpretation No. 9, "Applying APB Opinions No.
16 and 17 when a Savings and Loan Association or a Similar Institution Is
Acquired in a Business Combination Accounted for by the Purchase Method," and
requires that those transactions be accounted for in accordance with SFAS No.
141 and SFAS No. 142. In addition this Statement amends SFAS No. 144 to include
in its scope long-term customer relationship intangible assets of financial
institutions such as depositor and borrower-relationship intangible assets and
credit cardholder intangible assets. Consequently, those intangible assets are
subject to the same undiscounted cash flow recoverability test and impairment
loss recognition and measurement provisions that SFAS No. 144 requires for other
long-lived assets that are held and used. This Statement was effective October
1, 2002. Adoption of this Standard did not have a material effect on the
Corporation's Condensed Consolidated Financial Statements.

In December 2002, the FASB issued SFAS No. 148, "Accounting for Stock-Based
Compensation-Transition and Disclosure--an Amendment of FASB Statement No. 123."
This Statement amends SFAS No. 123, "Accounting for Stock-Based Compensation,"
to provide alternative methods of transition for a voluntary change to the fair
value method of accounting for stock-based employee compensation. In addition,
this Statement amends the disclosure requirements of SFAS No. 123 to require
more prominent disclosures about the method of accounting for stock-based
employee compensation and the effect of the method used on reported results in
both annual and interim financial statements. This Statement was effective for
financial statements for fiscal years ending after December 15, 2002. As
permitted by SFAS No. 148, the Corporation will continue to apply the provisions
of APB Opinion No. 25, "Accounting for Stock-Based Compensation," for all
employee stock option grants and has elected to disclose pro forma net income
and earnings per share amounts as if the fair-value based method had been
applied in measuring compensation costs.

In December 2004, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 123 (revised 2004), Share-based Payment,
(SFAS 123R), which requires entities to measure the cost of employee services
received in exchange for an award of equity instruments based on the grant-date
fair value of the award (with limited exceptions). The cost is recognized as an
expense over the period during which the employee is required to provide service
in exchange for the award, which is usually the vesting period. As required by
SFAS 123R, as with SFAS 123, the Corporation will be required to estimate the
fair value of all stock options on each grant date, using an appropriate
valuation approach such as the Black-Scholes option pricing model. The
provisions of this statement will be effective for the Corporation beginning
with its fiscal year ending 2006. The Corporation is currently evaluating the
impact this new standard will have on its financial position, results of
operations, or cash flows.

In April 2003, the FASB issued SFAS No. 149, "Amendment of Statement 133 on
Derivative Instruments and Hedging Activities." This Statement amends and
clarifies financial accounting and reporting for derivative instruments,
including certain embedded derivatives, and for hedging activities under SFAS
No. 133, "Accounting for Derivative Instruments and Hedging Activities." This
Statement amends SFAS No. 133 to reflect the decisions made as part of the
Derivatives Implementation Group (DIG) and in other FASB projects or
deliberations. SFAS No. 149 is effective for contracts entered into or modified
after June 30, 2003, and for hedging relationships designated after June 30,
2003. Adoption of this Standard did not have a material effect on the
Corporation's Condensed Consolidated Financial Statements.


                                       10
<PAGE>
In May 2003, the FASB issued SFAS No. 150, "Accounting for Certain Financial
Instruments with Characteristics of Both Liabilities and Equity." This Statement
establishes standards for how an entity classifies and measures certain
financial instruments with characteristics of both liabilities and equity. This
Statement requires that an issuer classify a financial instrument that is within
its scope as a liability. Many of those instruments were previously classified
as equity or in some cases presented between the liabilities section and the
equity section of the statement of financial position. This Statement is
effective for financial instruments entered into or modified after May 31, 2003,
and is effective at the beginning of the first interim period beginning after
June 15, 2003. Adoption of this Standard did not require reclassification and
did not result in any changes to the Consolidated Balance Sheet or Income
Statement.

In November 2002, the FASB issued Interpretation No. 45, (FIN 45) "Guarantor's
Accounting and Disclosure Requirements for Guarantees, Including Indirect
Guarantees of Indebtedness of Others," which elaborates on the disclosures to be
made by a guarantor about its obligations under certain guarantees issued. It
also clarifies that a guarantor is required to recognize, at the inception of a
guarantee, a liability for the fair value of the obligation undertaken in
issuing the guarantee. The Interpretation expands on the accounting guidance of
SFAS No. 5, "Accounting for Contingencies," SFAS No. 57, "Related Party
Disclosures," and SFAS No. 107, "Disclosures about Fair Value of Financial
Instruments." It also incorporates without change the provisions of FASB
Interpretation No. 34, "Disclosure of Indirect Guarantees of Indebtedness of
Others," which is superseded. The initial recognition and measurement provisions
of this Interpretation apply on a prospective basis to guarantees issued or
modified after December 31, 2002. The disclosure requirements in this
Interpretation were effective for periods ending after December 15, 2002.
Adoption of this Standard did not have a material effect on the Corporation's
Financial Statements.

In December 2003, the AcSEC issued SOP 03-3 "Accounting for Certain Loans or
Debt Securities Acquired in a Transfer" which requires that the investor of
loans should recognize the excess of all cash flows expected at acquisition over
the investors initial investment in the loan as interest income on level yield
basis over the life of the loan. The amount of accretable yield should not be
displayed in the balance sheet. The loan's contractually required payments
receivable in the excess of the amount of its cash flows expected at acquisition
should not be displayed in the balance sheet or recognized as an adjustment of
yield, a loss accrual, or a valuation allowance for credit risk. The SOP is
effective for loans acquired in the fiscal years beginning after December 15,
2004. The Corporation adopted this SOP, as early adoption was encouraged by
AcSEC. The SOP was applied for loans purchased in October 2003, through the
purchase and assumption of selected assets and liabilities of North Oakland
Community Bank.

In January 2003, the FASB issued Interpretation No. 46 (FIN 46), "Consolidation
of Variable Interest Entities." This Interpretation clarifies the application of
ARB No. 51, "Consolidated Financial Statements," for certain entities in which
equity investors do not have the characteristics of a controlling financial
interest or do not have sufficient equity at risk for the entity to finance its
activities without additional subordinated support from other parties. This
Interpretation requires variable interest entities to be consolidated by the
primary beneficiary which represents the enterprise that will absorb the
majority of the variable interest entities' expected losses if they occur,
receive a majority of the variable interest entities' residual returns if they
occur, or both. Qualifying Special Purpose Entities (QSPE) is exempt from the
consolidation requirements of FIN 46. This Interpretation was effective for
variable interest entities created after January 31, 2003 and for variable
interest entities in which an enterprise obtains an interest after that date. On
October 10, 2003, the FASB issued FASB Staff Position (FSP) FIN 46-6, "Effective
Date of FASB Interpretation No. 46, Consolidation of Variable Interest
Entities." FSP FIN 46-6 has provided a deferral of the effective date for
applying the provisions of FIN 46 for variable interest entities in which an
enterprise holds a variable interest that was acquired before February 1, 2003,
to the first fiscal year or interim period ending after December 15, 2003, with
earlier adoption permitted. In December 2003, FASB issued FIN 46(R) to make
certain technical corrections. The Corporation adopted this standard in the
first quarter of 2004. It did not have any effect on the Corporation's Condensed
Consolidated Financial Statements.


                                       11
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(2)  CASH AND DUE FROM BANKS

The Bank is required to maintain cash on hand or noninterest bearing deposits
with the Federal Reserve Bank, based on a percentage of the Bank's deposits. The
requirement is met using a combination of vault cash and deposits made using a
pass-through relationship with a correspondent bank. As of December 31, 2004, no
reserves were required.

(3)  SECURITIES

The following table shows the amortized cost and estimated fair value of the
Corporation's security portfolios as of the dates indicated:

<TABLE>
<CAPTION>
                                                      December 31, 2004
                                            ------------------------------------
                                                          Unrealized
                                            Amortized   --------------     Fair
                                               Cost     Gains   Losses    Value
                                            ---------   -----   ------   -------
                                                       (In thousands)
<S>                                         <C>         <C>     <C>      <C>
Securities Available for Sale
   United States Government agencies         $12,661     $  4    ($44)   $12,621
   Mortgage backed securities                 16,181       31    (126)    16,086
   Collateralized mortgage obligations        10,699       35     (82)    10,652
   Municipal securities                       11,519      103     (54)    11,568
   Mutual fund                                   500       --      (2)       498
                                             -------     ----   -----    -------
      Total Securities Available for Sale     51,560      173    (308)    51,425
                                             -------     ----   -----    -------
Held to Maturity Securities
   Municipal securities                          125        3      --        128
   Trust Preferred securities                    250       --      --        250
   Mortgage backed securities                    786        7      (4)       789
                                             -------     ----   -----    -------
      Total Held to Maturity Securities        1,161       10      (4)     1,167
                                             -------     ----   -----    -------
      Total Securities                       $52,721     $183   ($312)   $52,592
                                             =======     ====   =====    =======
</TABLE>


                                       12
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

<TABLE>
<CAPTION>
                                                      December 31, 2003
                                            ------------------------------------
                                                          Unrealized
                                            Amortized   --------------     Fair
                                               Cost     Gains   Losses    Value
                                            ---------   -----   ------   -------
                                                       (In thousands)
<S>                                         <C>         <C>     <C>      <C>
Securities Available for Sale
   United States Government agencies         $21,797     $ 25   ($130)   $21,692
   Mortgage backed securities                  7,916       85     (54)     7,947
   Collateralized mortgage obligations        15,400       21     (85)    15,336
   Municipal securities                       11,666      133    (135)    11,664
   Mutual fund                                   500       --      (4)       496
                                             -------     ----   -----    -------
      Total Securities Available for Sale     57,279      264    (408)    57,135
                                             -------     ----   -----    -------
Held to Maturity Securities
   Mortgage backed securities                    895       53      --        948
                                             -------     ----   -----    -------
      Total Held to Maturity Securities          895       53      --        948
                                             -------     ----   -----    -------
      Total Securities                       $58,174     $317   ($408)   $58,083
                                             =======     ====   =====    =======
</TABLE>

<TABLE>
<CAPTION>
                                                      December 31, 2002
                                            ------------------------------------
                                                          Unrealized
                                            Amortized   --------------     Fair
                                               Cost     Gains   Losses    Value
                                            ---------   -----   ------   -------
                                                       (In thousands)
<S>                                         <C>         <C>     <C>      <C>
Securities Available for Sale
   United States Government agencies         $15,705     $188   $ --     $15,893
   Mortgage backed securities                  9,244      151     (3)      9,392
   Collateralized mortgage obligations        20,846      120    (17)     20,949
   Municipal securities                       10,881      153    (68)     10,966
                                             -------     ----   ----     -------
      Total Securities Available for Sale     56,676      612    (88)     57,200
                                             -------     ----   ----     -------
Held to Maturity Securities
   Mortgage backed securities                  1,290       61     --       1,351
                                             -------     ----   ----     -------
      Total Held to Maturity Securities        1,290       61     --       1,351
                                             -------     ----   ----     -------
      Total Securities                       $57,966     $673   ($88)    $58,551
                                             =======     ====   ====     =======
</TABLE>

For the years ended December 31, 2004, 2003 and 2002, proceeds from sales of
securities available for sale amounted to $49.5 million, $35.8 million and $19.3
million, respectively. Gross realized gains amounted to $335,000, $436,000 and
$287,000, respectively. Gross realized losses amounted to $144,000, $19,000 and
$25,000, respectively.


                                       13
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table shows information pertaining to securities with gross
unrealized losses at December 31, 2004 and 2003, aggregated by investment
category and length of time that individual security has been in continuous loss
position. Unrealized losses on securities have not been recognized into income
because the issuers' bonds are of high credit quality. We have the intent and
ability to hold the securities for the foreseeable future and the decline in
fair value is primarily due to increased market interest rates.

<TABLE>
<CAPTION>
                                                         December 31, 2004
                                            -------------------------------------------
                                             Less than 12 Months      Over 12 Months
                                            --------------------   --------------------
                                               Gross                  Gross
                                            Unrealized     Fair    Unrealized     Fair
                                              Losses      Value      Losses      Value
                                            ----------   -------   ----------   -------
                                                           (In thousands)
<S>                                         <C>          <C>       <C>          <C>
Securities Available for Sale
   United States Government agencies           ($44)     $ 6,717      $ --       $   --
   Mortgage backed securities                   (83)      10,860       (43)       2,400
   Collateralized mortgage obligations          (82)       6,276        --           --
   Municipal securities                         (35)       2,845       (19)         701
   Mutual funds                                  (2)         498        --           --
                                              -----      -------      ----       ------
      Total Securities Available for Sale     ($246)     $27,196      ($62)      $3,101
                                              =====      =======      ====       ======
</TABLE>

As of December 31, 2004, the unrealized loss on held to maturity securities was
$4,000 and was in an unrealized loss position for less than twelve months.

<TABLE>
<CAPTION>
                                                         December 31, 2003
                                            -------------------------------------------
                                             Less than 12 Months      Over 12 Months
                                            --------------------   --------------------
                                               Gross                  Gross
                                            Unrealized     Fair    Unrealized     Fair
                                              Losses      Value      Losses      Value
                                            ----------   -------   ----------   -------
                                                           (In thousands)
<S>                                         <C>          <C>       <C>          <C>
Securities Available for Sale
   United States Government agencies          ($130)     $11,068      $ --        $ --
   Mortgage backed securities                   (53)       4,481        (1)         62
   Collateralized mortgage obligations          (85)      11,232        --          --
   Municipal securities                        (134)       5,781        (1)        102
   Mutual funds                                  (4)         496        --          --
                                              -----      -------      ----        ----
      Total Securities Available for Sale     ($406)     $33,058       ($2)       $164
                                              =====      =======      ====        ====
</TABLE>

As of December 31, 2003, no securities held to maturity had an unrealized loss.


                                       14
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Maturity distribution of the investment portfolio as of December 31, 2004, 2003
and 2002 with weighted average yields to maturity.

<TABLE>
<CAPTION>
                                                 2004                         2003                           2002
                                     ---------------------------   ---------------------------   ---------------------------
                                     Amortized     Fair    Yield   Amortized     Fair    Yield   Amortized     Fair    Yield
                                        Cost      Value     (%)       Cost      Value     (%)       Cost      Value     (%)
                                     ---------   -------   -----   ---------   -------   -----   ---------   -------   -----
                                                                          (In thousands)
<S>                                  <C>         <C>       <C>     <C>         <C>       <C>     <C>         <C>       <C>
U.S. Government debentures

One year or less                        9,306      9,284    3.22%     10,251    10,217    3.35%     6,045      6,066    2.88%
Over 1 year through five years          1,956      1,936    3.05%      8,547     8,472    2.99%     6,663      6,782    3.70%
Over 5 years through 10 years           1,399      1,401    4.82%      2,999     3,003    4.35%     2,997      3,045    5.07%
Over ten years                             --         --                                    --         --         --      --
                                      -------    -------   -----      ------   -------   -----    -------    -------   -----
                                       12,661     12,621    3.37%     21,797    21,692    3.35%    15,705     15,893    3.65%

State and political subdivisions *

One year or less                          725        725    3.71%      1,110     1,121    5.68%     2,690      2,689    4.64%
Over 1 year through five years          6,482      6,491    4.58%      2,728     2,734    4.52%     2,834      2,865    5.13%
Over 5 years through 10 years           4,412      4,453    5.32%      7,828     7,809    5.34%     5,113      5,164    5.77%
Over ten years                             25         27    7.07%         --        --                244        248    5.66%
                                      -------    -------   -----      ------   -------   -----    -------    -------   -----
                                       11,644     11,696    4.81%     11,666    11,664    5.18%    10,881     10,966    5.32%

U.S. government mortgage-backed
   and collateralized mortgage
   obligations                         27,666     27,527    4.08%     24,211    24,231    3.97%    31,380     31,692    4.45%

Mutual Fund (CRA Qualified)               500        498    3.62%        500       496    2.66%        --         --
Trust Preferred securities                250        250    6.50%         --        --                            --      --
                                      -------    -------   -----     -------   -------   -----    -------    -------   -----
Total securities                      $52,721    $52,592    4.08%    $58,174   $58,083    4.11%   $57,966    $58,551    4.40%
                                      =======    =======   =====     =======   =======   =====    =======    =======   =====
Memo:
Total variable rate securities
   Included above                      13,557     13,455              11,065    10,977              7,632      7,699
</TABLE>

*    weighted yield on state and political subdivisions is calculated on a
     taxable equivalent basis and is based on yield to maturity of the
     instruments.

The preceding table shows securities generally by contractual maturity. Actual
maturities may differ from contractual maturities because issuers (or underlying
borrowers) may have the right to call or prepay obligations.

Investment securities of $38,018,000 were pledged at December 31, 2004 to secure
short term repurchase agreements and partially secure Federal Home Loan Bank
advances.


                                       15
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(4) LOANS

Certain directors and executive officers of the Corporation and their associates
are loan customers of the Bank. Such loans were made in the ordinary course of
business and do not involve more than a normal risk of collectibility. The
outstanding loan balance for these persons amounted to $7,804,000 and $6,099,000
at December 31, 2004 and 2003, respectively. The total unused commitments
related to these loans were $4,745,000 at December 31, 2004. During 2004, new
loans and advances were $2,395,000, while repayments totalled $690,000.

The Bank grants loans to customers who reside primarily in Macomb, St. Clair and
Oakland Counties. Although the Bank has a diversified loan portfolio, a
substantial portion of the local economy has traditionally been dependent upon
the automotive industry. Additionally, the Bank had approximately $96,025,000 in
outstanding loans at December 31, 2004, to commercial borrowers in the real
estate rental and property management industry.

LOAN PORTFOLIO

The following table sets forth the composition of our loan portfolios as of the
dates indicated. The loan amounts in the table reflect amounts before deductions
for loans in process, deferred loan fees and discounts and allowance for credit
losses.

<TABLE>
<CAPTION>
                               2004       2003       2002       2001       2000
                             --------   --------   --------   --------   --------
                                                (In thousands)
<S>                          <C>        <C>        <C>        <C>        <C>
Commercial real estate (1)   $166,686   $149,769   $122,917   $104,460   $104,530
Commercial and industrial      40,614     39,330     29,127     23,714     17,423
Residential real estate        64,240     60,046     41,373     17,497     24,021
Home equity lines              18,864     11,217      4,949      3,703      4,400
Consumer loans                 14,377      9,844      5,161      4,324      5,366
Credit cards                      658        622        522        513        523
                             --------   --------   --------   --------   --------
Total loans                   305,439    270,828    204,049    154,211    156,263
</TABLE>

(1)  Included in the category of commercial real estate in the above table were
     real estate construction loans totaling $18.2 million, $13.2 million, $14.1
     million, $16.1 million and $24.0 million for the years ending, 2004, 2003,
     2002, 2001 and 2000, respectively.

Commercial (and multi-family) real estate loans make up the largest component of
our loan portfolio. Loans secured by commercial and multi-family real estate
properties are generally larger and involve a greater degree of risk than one-
to four-family residential mortgage loans. Commercial and multi-family real
estate loans typically involve large balances to single borrowers or groups of
related borrowers. Because payments on loans secured by commercial and
multi-family real estate properties are often dependent on the successful
operation or management of the properties, repayment of such loans may be
subject to adverse conditions in the real estate market or the economy. If the
cash flow from the project is reduced (for example, if leases are not obtained
or renewed), the borrower's ability to repay the loan may be impaired. We
attempt to minimize the risks associated with these transactions by generally
limiting our commercial real estate lending to well-known customers or new
customers whose businesses have an established profitable history. In many
cases, risk is further reduced by limiting the amount of credit to any one
borrower to an amount less than our legal lending limit and avoiding certain
types of commercial real estate financing.

Our commercial and industrial business lending activities have encompassed loans
with a variety of purposes and security, including loans to finance inventory
and equipment. Commercial and industrial business loans generally involve
different risks than residential and commercial mortgage loans. Commercial and
industrial business loans are of higher risk and typically are made on the basis
of the borrower's ability to make repayment from the cash flow of the borrower's
business. As a result, the availability of funds for the repayment of commercial
business loans may be substantially dependent on the success of the business
itself, rather than on the value of the real estate that secures mortgage loans.


                                       16
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table illustrates the nominal interest rate sensitivity of
selected loan portfolios at December 31, 2004. Loans which have adjustable or
renegotiable interest rates are shown as maturing in the period during which the
contract is due. The table does not reflect the effects of interest rate
adjustments and possible repayments.

Commercial and industrial loans due during the years ending December 31,

<TABLE>
<CAPTION>
                      (In thousands)
                      --------------
<S>                   <C>
2005                      $19,270
2006 to 2009               18,320
2010 and thereafter         3,024
                          -------
Total loans               $40,614
                          =======
</TABLE>

The total amount of commercial and industrial loans due after December 31, 2005
which have fixed interest rates is $6.3 million, while the total amount of these
loans due after such date which have floating or adjustable interest rates is
$15.1 million. Some of these loans may have floor interest rate levels which are
reported as fixed interest rate loans.

Real estate construction loans due during the years ending December 31,

<TABLE>
<CAPTION>
                      (In thousands)
                      --------------
<S>                   <C>
2005                      $ 6,931
2006 to 2009               11,250
2010 and thereafter            --
                          -------
Total loans               $18,181
                          =======
</TABLE>

The total amount of construction loans due after December 31, 2005 which have
fixed interest rates is $1.9 million, and $9.4 million in loans due after such
date which have floating or adjustable interest rates. Some of these loans may
have floor interest rate levels which will be reported as fixed interest rate
loans.


                                       17
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(5) ALLOWANCE FOR CREDIT LOSSES

A summary of the activity in the allowance for credit losses is as follows:

<TABLE>
<CAPTION>
                                            2004     2003     2002     2001     2000
                                           ------   ------   ------   ------   ------
                                                         (In thousands)
<S>                                        <C>      <C>      <C>      <C>      <C>
Balance at beginning of the period         $3,573   $3,377   $2,930   $2,654   $1,927
Charge-offs:
Commercial real estate                         --       --      193       --       --
Commercial and industrial                   2,040       38      190      184       96
Residential real estate                        61       18       --       --       --
Home equity lines                              --       --       --       --       --
Consumer loans                                 71       64       57       65       48
Credit cards                                   44        3       28       12       12
                                           ------   ------   ------   ------   ------
   Total charge-offs                        2,216      123      468      261      156
                                           ------   ------   ------   ------   ------
Recoveries:
Commercial real estate                         --       --       --       --       --
Commercial and industrial                       1       19      114       42       15
Residential real estate                        --       --       31       --       --
Home equity lines                              --       --       --       --       --
Consumer loans                                 18       24       14       17       13
Credit cards                                    1        1        1        3       --
                                           ------   ------   ------   ------   ------
   Total recoveries                            20       44      160       62       28
                                           ------   ------   ------   ------   ------
Net charge-offs                             2,196       79      308      199      128
                                           ------   ------   ------   ------   ------
Provision charged to earnings               2,000      275      755      475      855
                                           ------   ------   ------   ------   ------
Balance at the end of the period           $3,377   $3,573   $3,377   $2,930   $2,654
                                           ======   ======   ======   ======   ======

As a percentage of total portfolio loans     1.11%    1.32%    1.65%    1.90%    1.70%

Ratio of net charge-offs during the
   period to average loans during
   the period                                0.74%    0.03%    0.18%    0.13%    0.08%
</TABLE>

The loan portfolio has been reviewed and analyzed for the purpose of estimating
probable credit losses inherent in the loan portfolio. The Corporation performs
a detailed quarterly review of the allowance for credit losses. The Corporation
evaluates those loans classified as substandard, under its internal risk rating
system, on an individual basis for impairment under SFAS 114. The level and
allocation of the allowance is determined primarily on management's evaluation
of collateral value, less the cost of disposal, for loans reviewed in this
category. The remainder of the total loan portfolio is segmented into
homogeneous loan pools with similar risk characteristics for evaluation under
SFAS 5. The Corporation uses factors such as, historical portfolio losses,
national and local economic trends and levels of delinquency to determine the
appropriate level and allocation of the allowance for loans in this grouping.
The Corporation's policy dictates that specifically identified credit losses be
recognized immediately by a charge to the allowance for credit losses.
Management believes that the present allowance is adequate, based on the broad
range of considerations listed above.

The Corporation considers a loan impaired when it is probable that not all of
the interest and principal will be collected in accordance with the contractual
terms of the loan agreement. Consistent with this definition, all nonaccrual and
reduced-rate loans (with the exception of residential mortgage loans and
consumer loans) are considered impaired. The Corporation had $1,456,000 in loans
and other real estate owned classified as nonperforming at December 31, 2004 and
$847,000 at December 31, 2003.


                                       18
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

ANALYSIS OF ALLOWANCE FOR CREDIT LOSSES (IN THOUSANDS)

     The following table contains reserve allocations for types of loans for the
years presented.

<TABLE>
<CAPTION>
                             Commercial     Commercial     Residential   Home Equity   Consumer   Credit
                            Real Estate   and Industrial   Real Estate      Lines        Loans     Cards   Unallocated    Total
                            -----------   --------------   -----------   -----------   --------   ------   -----------   ------
<S>                         <C>           <C>              <C>           <C>           <C>        <C>      <C>           <C>
Balances:

December 31, 2004             $  805          $1,673          $ 441         $ 94         $205      $ 30        $129      $3,377
   % of loans in category       54.6%           13.3%          21.0%         6.2%         4.7%      0.2%                  100.0%

December 31, 2003             $2,015          $1,025          $ 181         $  8         $ 80      $ 17        $247      $3,573
   % of loans in category       55.3%           14.5%          22.2%         4.1%         3.6%      0.3%                  100.0%

December 31, 2002             $2,561          $  607          $  84         $ 16         $ 59      $ 26        $ 24      $3,377
   % of loans in category       60.2%           14.3%          20.3%         2.4%         2.5%      0.3%                  100.0%

December 31, 2001             $2,092          $  474          $  53         $ 12         $ 46      $ 12        $241      $2,930
   % of loans in category       67.7%           15.4%          11.3%         2.4%         2.8%      0.4%                  100.0%

December 31, 2000             $2,040          $  340          $  68         $ 10         $100      $  2        $ 94      $2,654
   % of loans in category       66.9%           11.1%          15.4%         2.8%         3.4%      0.4%                  100.0%
</TABLE>

LEGAL LENDING LIMIT

Pursuant to state regulations, the Bank is limited in the amount that it may
lend to a single borrower. As of December 31, 2004, the legal lending limit was
approximately $3.9 million or 15% of capital and surplus of the Bank; however,
that limit can be increased (for individual loans) to approximately $6.4 million
or 25% of capital and surplus, with two-thirds approval of the Board of
Directors.


                                       19
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NONPERFORMING ASSETS

     The table below sets forth the amounts and categories of nonperforming
assets in our loan portfolio. See "Loans" and "Allowance for Credit Losses"
under Notes 4 and 5 of Notes to Consolidated Financial Statements. For all years
presented, we have had no troubled debt restructuring, which involve forgiving a
portion of interest or principal on any loans or making loans at a rate
materially less than market rates.

<TABLE>
<CAPTION>
                                                  December 31,
                                   2004    2003       2002        2001    2000
                                  ------   ----   ------------   ------   ----
                                                 (In thousands)
<S>                               <C>      <C>    <C>            <C>      <C>
Nonaccrual loans
   Commercial real estate         $  220   $277      $  419      $2,383   $ --
   Commercial and industrial         305     88           8          23    488
   Residential real estate            16     --         311         166    174
   Home equity lines                  --     --         101          --     --
   Consumer loans                     --     --          --          --     --
   Credit cards                       --     --          --          --     --
                                  ------   ----      ------      ------   ----
Total                                541    365         839       2,572    662

Accruing loans delinquent more
   than 90 days
   Commercial real estate         $   --   $ --      $   --      $   --   $ --
   Commercial and industrial          --     --          --          --     --
   Residential real estate           100    116          --          --     56
   Home equity lines                  --     --          --          --     --
   Consumer loans                    124      1          --           4     96
   Credit cards                       10      2           6           6     --
                                  ------   ----      ------      ------   ----
Total                                234    119           6          10    152
                                  ------   ----      ------      ------   ----
Total nonperforming loans            775    484         845       2,582    814

Other real estate owned
   Commercial real estate            681    363         320          --     --
                                  ------   ----      ------      ------   ----
Total                                681    363         320          --     --
                                  ------   ----      ------      ------   ----
Total nonperforming assets        $1,456   $847      $1,165      $2,582   $814
                                  ======   ====      ======      ======   ====

Total nonperforming loans as a
   percentage of total loans        0.25%  0.18%       0.41%       1.67%  0.52%

Total nonperforming assets as a
   percentage of total assets       0.37%  0.24%       0.41%       1.10%  0.38%
</TABLE>

The Corporation did not recognize any interest income in 2004 on those loans
classified as nonaccruing for the period ended December 31, 2004. The amount of
interest that would have been recognized on those loans classified as
nonaccruing, if the loans were in accrual status during that same time period
was $46,000.


                                       20
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(6) PROPERTY AND EQUIPMENT

A summary of property and equipment as of December 31 is as follows:

<TABLE>
<CAPTION>
                                                  2004     2003
                                                 ------   ------
                                                  (In thousands)
<S>                                              <C>      <C>
Land                                             $1,340   $1,340
Buildings and improvements                        1,323    1,576
Building construction in process                  3,068       --
Leasehold improvements                              164      269
Furniture and equipment                           2,929    2,303
Vehicles                                             51       51
                                                 ------   ------
                                                  8,875    5,539
Less accumulated depreciation and amortization    1,954    1,562
                                                 ------   ------
Net property and equipment                       $6,921   $3,977
                                                 ======   ======
</TABLE>

As of December 31, 2004 approximately $450,000 was remaining in estimated costs
to complete the building under construction.

(7) TIME DEPOSITS

As of December 31, 2004, scheduled maturities of all time deposits are as
follows:

<TABLE>
<CAPTION>
Year ending December 31,   (In thousands)
------------------------   --------------
<S>                        <C>
2005                          $124,255
2006                            39,985
2007                             9,339
2008                             3,648
2009                             7,072
Subsequent years                 1,492
                              --------
Total time deposits           $185,791
                              ========
</TABLE>

The following table depicts the maturity distribution of certificates of deposit
with balances of $100,000 or more at December 31, 2004.

<TABLE>
<CAPTION>
                                          (In thousands)
                                          --------------
<S>                                       <C>
Three months or less                         $ 54,926
Over three months to six months                18,146
Over six months to twelve months               17,685
Over one year to three years                   28,114
Over three years                                6,545
                                             --------
Total time deposits of $100,000 or more      $125,416
                                             ========
</TABLE>


                                       21
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(8) SHORT TERM BORROWINGS

Short term borrowings at December 31, 2004, consisted of short term FHLB
advances of $17.0 million and securities sold with an agreement to repurchase of
$11.5 million. Repurchase agreements generally mature within one day. Following
are details of short term borrowings for the dates or periods indicated:

<TABLE>
<CAPTION>
                                                     2004      2003      2002
                                                   -------   -------   -------
                                                      (Dollars in thousands)
<S>                                                <C>       <C>       <C>
Amount outstanding at end of year
   Repurchase agreements                           $11,492   $12,836   $ 8,006
   Short-term FHLB advances                        $17,000   $19,000   $11,000

Weighted average interest rate on ending balance
   Repurchase agreements                              1.00%     0.75%     1.25%
   Short-term FHLB advances                           2.23%     1.82%     2.91%

Maximum amount outstanding at any month end
   during the year
   Repurchase agreements                           $24,995   $19,106   $10,932
   Short-term FHLB advances                        $17,000   $19,000   $11,000

Average amount outstanding during the year
   Repurchase agreements                           $12,653   $15,791   $12,653
   Short-term FHLB advances                        $16,500   $12,006   $16,500

Weighted average interest rate
   Repurchase agreements                              0.86%     0.71%     1.50%
   Short-term FHLB advances                           1.96%     1.93%     3.09%
</TABLE>


                                       22
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(9) FHLB ADVANCES

In June of 2001, the Corporation started to borrow long-term advances from the
FHLB to fund fixed rate instruments and to attempt to minimize the interest rate
risk associated with certain fixed rate commercial mortgage loans and investment
securities. The advances are collateralized by mortgage loans under a blanket
collateral agreement totaling approximately $61.6 million and $55.8 million at
December 31, 2004 and 2003, respectively. The advances are also secured by
specific investment securities with an amortized cost of $21.1 million and $16.0
million and fair market values of $21.1 million and $16.0 million, at December
31, 2004 and 2003, respectively. All advances with the exception of variable
rate advances representing $11.0 million at December 31, 2004, have prepayment
penalties. All advances have final maturities without callable provisions.

FHLB advances outstanding were as follows:

<TABLE>
<CAPTION>
                                December 31, 2004            December 31, 2003
                           --------------------------   --------------------------
                            Ending     Average rate      Ending     Average rate
                           Balance   at end of period   Balance   at end of period
                           -------   ----------------   -------   ----------------
                                            (Dollars in thousands)
<S>                        <C>       <C>                <C>       <C>
Short-term FHLB advances   $17,000         2.23%        $19,000         1.82%
Long-term FHLB advances     46,360         3.90%         35,374         3.99%
                           -------         ----         -------         ----
                           $63,360         3.45%        $54,374         3.23%
</TABLE>

Long-term advances were comprised of 26 advances with maturities ranging from
February 2006 to December 2012.

The principal maturities of long-term advances outstanding at December 31, 2004
are as follows:

<TABLE>
<CAPTION>
                           (In thousands)
                           --------------
<S>                        <C>
Year ending December 31,
2006                           $13,000
2007                            11,000
2008                             8,860
2009                             3,000
Subsequent years                10,500
                               -------
Total                          $46,360
                               =======
</TABLE>


                                       23
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(10) ESOP NOTE PAYABLE

In 1999, the ESOP entered into a 10 year note payable with an outside financial
institution as a part of the Bank's employee stock ownership plan ("ESOP"). The
terms of the note include a variable rate payable, due in monthly installments
to 2009, floating at prime rate which was 5.25% at December 31, 2004. The
Corporation has guaranteed the loan, with the ESOP stock pledged as collateral.
In addition, the Bank has issued a letter of credit supporting the note payable.
Since ESOP debt is guaranteed by the Corporation, it is reflected on the
consolidated balance sheet as a liability with a related amount shown as a
reduction in the stockholders' equity. Dividends paid by the Corporation on
unallocated shares of common stock held by the ESOP can be used to repay the
loan used to purchase the Corporation's common stock at the discretion of the
Plan Administrator. In 2004, $16,000 was paid from accumulated dividends on
unallocated shares on the ESOP note payable in addition to the scheduled loan
payments.

As of December 31, 2004, scheduled maturities of the ESOP note payable are as
follows:

<TABLE>
<CAPTION>
       (In thousands)
       --------------
<S>    <C>
2005        $ 50
2006          50
2007          50
2008          50
2009           5
            ----
            $205
            ====
</TABLE>


                                       24
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(11) SUBORDINATED DEBENTURES

Community Central Capital Trust I, a business trust subsidiary of the
Corporation, sold 10,000 Cumulative Preferred Securities ("trust preferred
securities") at $1,000.00 per trust preferred security in June 2002. The
proceeds from the sale of the trust preferred securities were used by the trust
to purchase an equivalent amount of subordinated debentures from the
Corporation. The trust preferred securities carry a variable rate of interest at
the three month libor plus 365 basis points, have a stated maturity of 30 years,
and, in effect, are guaranteed by the Corporation. The securities are redeemable
at par after 5 years. Distributions on the trust preferred securities are
payable quarterly on March 30, June 30, September 30 and December 30. The first
distribution was paid on September 30, 2002. Under certain circumstances,
distributions may be deferred for up to 20 calendar quarters. However, during
any such deferrals, interest accrues on any unpaid distributions at the rate of
the three month libor plus 365 basis points. The trust preferred securities are
carried on the Corporation's consolidated balance sheet as a liability and the
interest expense is recorded on the Corporation's consolidated statement of
income. The Coporation owns common shares totaling $310,000 in Community Central
Capital Trust 1 which are recorded in other assets of the consolidated balance
sheet of the Corporation.

The subordinated debentures qualify for up to 25% of Tier I Capital. Any amount
in excess of this limit may be included in Tier 2 Capital.

(12) STOCKHOLDERS' EQUITY

The Corporation and the Bank are subject to various regulatory capital
requirements administered by Federal banking agencies. Failure to meet these
requirements can initiate certain mandatory (and possible additional
discretionary) actions by regulators. These actions, if undertaken, could have a
material effect on the Corporation's financial position. Under capital adequacy
guidelines, the Corporation and the Bank must meet specific capital requirements
that involve quantitative measures of assets, liabilities, and certain
off-balance sheet items. Capital amounts are also subject to qualitative
judgments by the regulators about individual components, risk-weightings, and
other factors.

Quantitative measures established by regulation require the Corporation and the
Bank to maintain minimum amounts and ratios of Tier I capital and total capital
(as defined in the regulations) to risk-weighted assets. The Corporation and the
Bank are also subject to a minimum Tier I leverage ratio expressed as a
percentage of quarterly average assets (as defined). The Corporation is further
subject to leverage ratios consisting of primary capital and total capital as a
percentage of assets at period end. Management believes, as of December 31,
2004, that the Corporation and the Bank meet all capital adequacy requirements
to which they are subject. As of December 31, 2004, the most recent notification
from the Federal Deposit Insurance Corporation ("FDIC") categorized the Bank as
"well capitalized." There have been no events or conditions since that
notification that management believes have changed the Bank's category.

On April 20, 2004, Community Central Bank Corporation declared a 5% stock
dividend, payable on June 1, 2004 to stockholders of record on May 3, 2004. The
outstanding numbers of shares, earnings per share, exercise price data and
common stock price data have been adjusted to reflect this dividend. Retained
earnings, common stock and additional paid-in-capital were adjusted to reflect
the stock dividend as indicated in the Consolidated Statement of Changes in
Stockholders' Equity.


                                       25
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table shows the Corporation's and the Bank's actual capital
amounts and ratios as of December 31, as well as certain minimum requirements:

<TABLE>
<CAPTION>
                                              2004               2003          Minimum Ratio            Ratio
                                         ---------------   ---------------      for Capital             to be
                                         Capital   Ratio   Capital   Ratio   Adequacy Purposes   "Well Capitalized"
                                         -------   -----   -------   -----   -----------------   ------------------
                                                   (In thousands)
<S>                                      <C>       <C>     <C>       <C>     <C>                 <C>
Tier I capital to risk-weighted assets
   Consolidated                           33,068   10.90%  $30,505   11.27%          4%                  NA
   Bank only                              32,972   10.89%   29,427   10.89%          4%                   6%

Total capital to risk-weighted assets
   Consolidated                           38,177   12.58%   36,266   13.39%          8%                  NA
   Bank only                              36,349   12.00%   32,808   12.14%          8%                  10%

Tier I capital to average assets
   Consolidated                           33,068    8.47%   30,505    8.56%          4%                  NA
   Bank only                              32,972    8.47%   29,427    8.27%          4%                   5%
</TABLE>


                                       26
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(13) BENEFIT PLANS

DEFINED CONTRIBUTION PLAN - The Corporation has a 401(k) Plan which is a defined
contribution savings plan for employees. Employer contributions are
discretionary and are determined annually by the Board of Directors. Employer
contributions of $72,000, $78,000 and $84,000 were paid or accrued for the
periods ended December 31, 2004, 2003 and 2002.

EMPLOYEE STOCK OWNERSHIP PLAN - During the second quarter of 1999, the Bank
established an employee stock ownership plan ("ESOP") for the benefit of
eligible employees. As of December 31, 2004, the plan had a total of 66,557
shares of the Corporation's stock. This represented both committed-to-be
released shares and unearned shares. Under the plan, the shares of stock
committed-to-be released into all participants' accounts are directly
proportional to the ratio of the principal reductions to the total original
principal amount. Dividends paid by the Corporation on common stock held by the
ESOP, as committed-to-be released, are allocated proportionately to the number
of shares of each participant. Dividends paid by the Corporation on unallocated
shares of common stock held by the ESOP can be used to repay the loan or used to
purchase the Corporation's common stock at the discretion of the Plan
Administrator. Under Statement of Position 93-6, "Employer's Accounting for
Employee Stock Ownership Plans", the compensation expense recognized was based
on the fair value of the committed-to-be released shares which was $84,000 for
2004. As of December 31, 2004, 38,330 shares were committed-to-be released, with
28,227 remaining unearned. The value of unearned shares as of December 31, 2004,
was $367,000.

The ESOP borrowed $500,000 from a bank to purchase shares of the Corporation
stock (see Note 11). The ESOP intends to repay the loan (plus interest) using
Bank contributions.

Information regarding the ESOP transactions for the years ended December 31 is
as follows:

<TABLE>
<CAPTION>
                                            2004   2003   2002
                                            ----   ----   ----
                                              (In thousands)
<S>                                         <C>    <C>    <C>
Amounts paid by ESOP for:
   Debt repayment *                          $66    $50    $50
   Interest                                  $10    $13    $17
   Other                                     $12    $15    $17

Amounts received from the Corporation as:
   Contributions                             $72    $78    $84
</TABLE>

*    Includes debt repayment from cash contained in ESOP from accumulated
     dividends.


                                       27
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN - Effective April 30, 2003, the
Corporation began sponsoring a non-qualifying defined benefit plan to provide
supplemental retirement benefits for three key executives. The minimum benefit
upon retirement for each participant is $75,000 and the maximum benefit is 50%
of the average of the three highest years of compensation. The following table
sets forth the plan activity and other information as of and for the year ended
December 31, 2004.

<TABLE>
<CAPTION>
                                              2004
                                         --------------
                                         (In thousands)
<S>                                      <C>
Plan assets at fair value                    $  --
Benefit obligation                             385
                                             -----
Overfunded (underfunded) status              ($385)
                                             =====
Pension liability                              385
                                             -----
Net pension costs                            $ 300
                                             -----
Change in minimum liability                  $ 300
                                             =====
Actuarial comparisons:
Weighted average discount rate                7.00%
Increase in future compensation levels        5.00%
</TABLE>

To fund the supplemental retirement benefit obligation, the Corporation has
purchased insurance policies on the lives of the participants with the
Corporation as the owner and beneficiary of the policies. At December 31, 2004,
the cash surrender value of all bank owned life insurance policies on the
participants amounted to $7,519,000. There were no supplemental retirement
benefits paid by the plan during 2004.

STOCK OPTION PLANS - The Corporation has four stock-based compensation plans
currently in existence. Under the 1996 and 2000 Employee Stock Option Plans
("Employee Plans"), the Corporation is authorized to grant options to key
employees for up to 58,564 and 66,000 shares of common stock, respectively. No
options are presently available for grant under the 1996 Employee Stock Option
Plan and 494 shares are available for grant under the 2000 Employee Stock Option
plan. Under the 1999 Stock Option Plan for Directors, the Corporation has
granted 40,400 shares. As of December 31, 2004, no further shares are available
under the provisions of this plan. Under the 2002 Incentive Plan, as amended in
2004, up to 40,000 shares are available for directors and 190,000 for employees.
In 2004, 47,500 stock options were granted to employees with terms of 10 years
under the 2002 Incentive Plan. As part of the annual stock award provision of
the 2002 Incentive Plan, 300 shares of common stock were awarded to each
Director for a total of 3,300 shares. At December 31, 2004, 84,380 shares were
available to employees and 31,920 shares to directors. The shares awarded were
recorded as director and employee compensation expense, respectively. Under all
plans, the exercise price of each option equals the market price of the
Corporation's common stock at the date of grant. Under the Employee Plans an
option's maximum term is ten years, and under the 1999 Directors plan the
option's maximum term is seven years. In 2003, the 1996 Stock Option Plan for
Nonemployee Directors expired.


                                       28
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The Corporation has estimated the fair value of the options issued in 2004
ranging from $4.44 to $4.68 per share (weighted average $4.44 per share).
Options issued in 2003 and 2002 had an estimated fair value of $2.29 and $2.39
per share, respectively. The Corporation estimated the fair value of options
using the Black-Scholes option pricing model. The Corporation issued incentive
options for 47,500 shares during 2004. If the Corporation had used the fair
value method of accounting and recognized compensation costs for the plans based
on the fair value of awards at the grant date, net income and earnings per share
on a pro forma basis would have been as follows:

<TABLE>
<CAPTION>
                                            Year Ended December 31,
                                           ------------------------
                                            2004     2003     2002
                                           ------   ------   ------
                                                (In thousands,
                                            except per share data)
<S>                                        <C>      <C>      <C>
   Net income, as reported                 $2,207   $2,105   $1,810
   Deduct: Total stock-based employee
      and director compensation expense
      under fair value based methods of
      awards, net of related tax effects     (198)    (128)    (148)
                                           ------   ------   ------
   Pro forma net income                    $2,009   $1,977   $1,662
                                           ======   ======   ======
Earnings per share
   Basic - as reported                     $ 0.78   $ 0.75   $ 0.66
   Basic - pro forma                       $ 0.71   $ 0.70   $ 0.60
   Diluted - as reported                   $ 0.76   $ 0.74   $ 0.65
   Diluted - pro forma                     $ 0.69   $ 0.70   $ 0.60
</TABLE>

Earnings per share have been retroactively adjusted for stock dividends paid.

The fair value of each option grant is estimated on the date of the grant using
the Black-Scholes option-pricing model with the following weighted average
assumptions.

<TABLE>
<CAPTION>
                                           Year Ended December 31,
                                       -------------------------------
                                         2004        2003        2002
                                       -------   -----------   -------
<S>                                    <C>       <C>           <C>
Dividend yield or expected dividends      1.51%         1.81%     2.03%
Riskfree interest rate                    4.20%         4.30%     4.00%
Expected life                          10 yrs.   7 - 10 yrs.   10 yrs.
Expected volatility                      24.65%         9.60%    21.92%
</TABLE>


                                       29
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Following is a summary of the stock option activity for the periods indicated
and the stock options outstanding at the end of such periods:

<TABLE>
<CAPTION>
                                                                  Year Ended December 31,
                                   ------------------------------------------------------------------------------------
                                              2004                         2003                         2002
                                   --------------------------   --------------------------   --------------------------
                                                  Weighted                     Weighted                     Weighted
                                   Number of       Average      Number of       Average      Number of       Average
                                     Shares    Exercise Price     Shares    Exercise Price     Shares    Exercise Price
                                   ---------   --------------   ---------   --------------   ---------   --------------
<S>                                <C>         <C>              <C>         <C>              <C>         <C>
Outstanding, beginning of period    183,342        $ 7.65        222,087        $ 6.79        183,888         $6.48
Granted                              47,500         12.92         37,905         10.98         55,125          8.10
Exercised                            (2,846)         8.11        (75,075)         6.82         (6,149)         6.50
Forfeited                                --            --         (1,575)         5.71        (10,777)         8.31
                                    -------        ------        -------        ------        -------         -----
Outstanding, end of year            227,996        $ 8.75        183,342        $ 7.65        222,087         $6.79
                                    =======        ======        =======        ======        =======         =====
</TABLE>

The following table shows summary information about stock options outstanding at
December 31, 2004:

<TABLE>
<CAPTION>
                    Stock Options Outstanding                         Stock Options Exercisable
-----------------------------------------------------------------   ----------------------------
                              Weighted Average                                      Weighted
    Range of        Number        Remaining      Weighted Average   Number of   Average Exercise
Exercise Prices   of Shares   Contractual Life    Exercise Price      Shares          Price
---------------   ---------   ----------------   ----------------   ---------   ----------------
<S>               <C>         <C>                <C>                <C>         <C>
     $8.23          19,634        1.3 years           $ 8.23          19,634         $ 8.23
      6.82           4,620        1.8 years             6.82           4,620           6.82
      4.98           3,917        5.0 years             4.98           3,917           4.98
      9.80           1,155        5.3 years             9.80           1,155           9.80
      5.24          15,195        5.8 years             5.24          15,195           5.24
   5.46 -5.76       52,500        6.4 years             5.60          52,500           5.60
      8.10          46,725        7.4 years             8.10          46,725           8.10
      9.59           7,350        8.5 years             9.59           2,448           9.59
     11.37          29,400        8.9 years            11.37          21,732          11.37
  12.91 -13.61      47,500        9.9 years            12.92          26,750          12.92
                   -------                            ------         -------         ------
                   227,996                            $ 8.75         194,676         $ 8.18
                   =======                            ======         =======         ======
</TABLE>

All share number and exercise price data have been adjusted to reflect the stock
dividend issued in 2004.


                                       30
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(14) LEASES

Operating expense includes rentals on a leased facility and certain equipment in
the amount of $484,000, $421,000 and $345,000 for 2004, 2003 and 2002,
respectively. Following is a schedule of future minimum rental payments required
under operating leases that have remaining lease terms in excess of one year as
of December 31, 2004:

<TABLE>
<CAPTION>
                                (In thousands)
                                --------------
<S>                             <C>
Year ending December 31,
2005                                 $213
2006                                   84
2007                                   50
2008                                   50
2009                                   50
Subsequent years                      281
                                     ----
Total minimum rental payments        $728
                                     ====
</TABLE>

(15) OTHER OPERATING EXPENSE

The following is a summary of significant components of other operating expense
for the periods indicated:

<TABLE>
<CAPTION>
                                         Year Ended December 31,
                                        ------------------------
                                         2004     2003     2002
                                        ------   ------   ------
                                             (In thousands)
<S>                                     <C>      <C>      <C>
Advertising, business development and
   public relations                     $  742   $  867   $  428
Data processing                            441      601      516
Professional and regulatory fees           308      463      298
Legal fees                                 554      283      289
Director fees                              317      291      179
Credit card processing                      34       32       45
Printing and supplies                      171      203      146
Telephone                                  187      195      138
Loan closing                               198      120       90
Other insurance                            149      100       75
Deposit insurance                           50       43       46
Single business tax                        133      168      109
Other                                      674      530      580
                                        ------   ------   ------
   Total other operating expense        $3,958   $3,896   $2,939
                                        ======   ======   ======
</TABLE>


                                       31
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(16) TAXES ON INCOME

The Corporation and the Bank file a consolidated federal income tax return.
Deferred income taxes are provided for the temporary differences between the
financial reporting basis and the tax basis of the Corporation's assets and
liabilities. The income tax expense (benefit) for the years ending December 31
consists of the following:

<TABLE>
<CAPTION>
                             2004   2003   2002
                             ----   ----   ----
                               (In thousands)
<S>                          <C>    <C>    <C>
Current expense              $527   $840   $828
Deferred (benefit) expense    255     --     --
                             ----   ----   ----
Total income expense         $782   $840   $828
                             ====   ====   ====
</TABLE>

The temporary differences and carryforwards which comprise deferred tax assets
and liabilities at December 31 are as follows:

<TABLE>
<CAPTION>
                                                           2004     2003
                                                          ------   ------
                                                           (In thousands)
<S>                                                       <C>      <C>
Deferred tax assets
   Provision for loan losses                              $  930   $1,146
   Depreciation                                              148      202
   SERP Expense                                              141       29
   Other                                                      73        6
   Unrealized net loss on securities available for sale       46       50
   Deferred loan costs                                        42        6
                                                          ------   ------
                                                           1,380    1,439

   Valuation allowance for deferred tax assets                --       --

Deferred tax liabilities
   Mortgage subsidiary accumulated timing differences       (212)     (45)
   Original issue discount                                  (105)     (88)
   Accretion                                                  (2)     (14)
   FHLB dividends                                            (82)     (33)
   Other                                                     (33)     (54)
                                                          ------   ------
                                                            (434)    (234)
                                                          ------   ------
Net deferred tax asset                                    $  946   $1,205
                                                          ======   ======
</TABLE>


                                       32
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The Corporation's effective tax rates differ from the statutory federal tax
rates. The following is a summary of such differences:

<TABLE>
<CAPTION>
                                                 Year Ended December 31,
                                                 -----------------------
                                                  2004     2003     2002
                                                 ------   ------   -----
                                                      (In thousands)
<S>                                              <C>      <C>      <C>
Provision at statutory federal income tax rate   $1,016   $1,001   $ 897
Nondeductible expenditures                           35       46      25
Tax exempt municipal interest                      (168)    (136)   (113)
Increase in cash surrender value of bank owned
   life insurance                                  (101)     (76)     --
Other, net                                           --        5      19
                                                 ------   ------   -----
Provision at effective federal income tax rate   $  782   $  840   $ 828
                                                 ======   ======   =====
</TABLE>


                                       33
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(17) ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS

Estimates of fair value of financial instruments have been determined using
available market information and appropriate valuation methods, as outlined
below. Considerable judgment is inherently required to interpret market data to
develop the estimates of fair value. Accordingly, the estimates presented below
do not necessarily represent amounts that the Corporation could realize in a
current market exchange. The following methods and assumptions were used to
estimate the fair value of financial instruments:

CASH AND CASH EQUIVALENTS: For these short term instruments, the carrying amount
is a reasonable estimate of fair value.

SECURITIES, FEDERAL HOME LOAN BANK STOCK: For marketable debt securities,
estimated fair value is based on quoted market prices or dealer quotes. The
carrying value of FHLB stock approximate fair value based on their redemption
provisions.

LOANS: For variable rate loans with no significant change in credit risk since
loan origination, the carrying amount is a reasonable estimate of fair value.
For all other loans, including fixed rate loans, the fair value is estimated
using a discounted cash flow analysis, using interest rates currently offered on
similar loans to borrowers with similar credit ratings and for the same
remaining maturities. The resulting value is reduced by an estimate of losses
inherent in the portfolio.

RESIDENTIAL MORTGAGES HELD FOR SALE: The estimated fair value of residential
mortgages held for sale is the carrying amount. The duration of the portfolio is
typically within two weeks or less and a commitment of sale has already occurred
when the loans are funded.

DEPOSITS: The estimated fair value of demand deposits, certain money market
deposits, and savings deposits is the amount payable on demand at the reporting
date. The fair value of fixed maturity time deposits is estimated using the
rates currently offered for deposits of similar remaining maturities.

FEDERAL HOME LOAN BANK ADVANCES: The estimated fair value of Federal Home Loan
Bank advances is estimated using rates currently offered for funding sources of
similar remaining maturities.

REPURCHASE AGREEMENTS: The estimated fair value of short term borrowings is the
carrying amount, since they mature the next day.

ACCRUED INTEREST: Accrued interest receivable and payable are short term in
nature; therefore, their carrying amount approximates fair value.

ESOP NOTE PAYABLE: The ESOP note payable floats at prime rate; therefore, its
carrying amount approximates fair value.

SUBORDINATED DEBENTURES: Subordinated debentures are based on current rates for
similar financing.

COMMITMENTS: The fair value of commitments is estimated using the fees currently
charged to enter into similar arrangements, taking into account the remaining
terms of the agreements and the present creditworthiness of the counterparties.
The majority of commitments to extend credit and letters of credit would result
in loans with a market rate of interest if funded. The fair value of these
commitments is not material.


                                       34
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The recorded carrying amounts and estimated fair values of the Corporation's
financial instruments at December 31 are as follows:

<TABLE>
<CAPTION>
                                                  2004                    2003
                                         ---------------------   ---------------------
                                         Carrying    Estimated   Carrying    Estimated
                                          Amount    Fair Value    Amount    Fair Value
                                         --------   ----------   --------   ----------
                                                         (In thousands)
<S>                                      <C>        <C>          <C>        <C>
Financial Assets
   Cash and cash equivalents             $  7,183    $  7,183    $  6,227    $  6,227
   Securities                              52,586      52,592      58,030      58,083
   FHLB stock                               3,246       3,246       3,103       3,103
   Residential mortgages held for sale      6,491       6,491       7,241       7,241
   Loans, net of allowance                302,062     305,703     267,255     273,511
   Accrued interest receivable              1,391       1,391       1,305       1,305

Financial Liabilities
   Demand and savings deposits             93,065      93,065      81,687      81,687
   Time deposits                          185,791     185,368     173,669     174,791
   Repurchase agreements                   11,492      11,492      12,836      12,836
   Federal Home Loan Bank advances         63,360      63,729      54,374      55,756
   Accrued interest payable                   780         780         511         511
   ESOP note payable                          205         205         271         271
   Subordinated debentures                 10,310      10,310      10,000      10,000
</TABLE>


                                       35
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(18) OFF-BALANCE SHEET RISK

The Corporation is party to financial instruments with off-balance sheet risk in
the normal course of business, to meet financing needs of its customers and to
reduce its own exposure to fluctuations in interest rates. These financial
instruments include commitments to extend credit and financial guarantees. These
instruments involve, to varying degrees, elements of credit and interest rate
risk that are not recognized in the balance sheet.

Commitments to extend credit are agreements to lend to a customer as long as
there are no violations of any conditions established in the contract.
Commitments generally have fixed expiration dates or other termination clauses
and may require payment of a fee. Fees from issuing these commitments to extend
credit are recognized over the period to maturity. Since a portion of the
commitments is expected to expire without being drawn upon, the total
commitments do not necessarily represent future cash requirements. The
Corporation evaluates each customer's creditworthiness on a case by case basis.
The amount of collateral obtained upon extension of credit is based on
management's credit evaluation of customers. The Corporation also has legally
binding commitments to extend credit in the form of loans that have been
approved but not yet closed. These funds are normally disbursed unless the
customer fails to comply with closing requirements.

Standby letters of credit are issued in connection with agreements between
customers and a third party. If the customer fails to comply with the agreement,
the counterparty may enforce the standby letter of credit as a remedy. Credit
risk arises from the possibility that the customer may not be able to repay the
Corporation after the letter of credit is enforced.

A summary of commitments not recorded on the balance sheet at December 31 is as
follows:

<TABLE>
<CAPTION>
                                                   2004      2003
                                                 -------   -------
                                                   (In thousands)
<S>                                              <C>       <C>
Unused home equity lines of credit               $ 6,427   $ 5,648
Unused credit card lines                           1,790     1,826
Unused portion of construction lines of credit    20,368    24,004
Unused portion of all other credit lines          43,747    39,531
Standby letters of credit                            290       986
                                                 -------   -------
Total outstanding commitments                    $72,622   $71,995
                                                 =======   =======
</TABLE>

(19) RESTRICTIONS ON DIVIDENDS, LOANS AND ADVANCES

Banking regulations place certain restrictions on dividends paid and loans or
advances made by the Bank to the Corporation. The total amount of dividends
which may be paid at any date is generally limited to the retained earnings of
the Bank. However, dividends paid by the Bank would be prohibited if the effect
thereof would cause the Bank's capital to be reduced below applicable minimum
standards. At December 31, 2004, the Bank's retained earnings available for the
payment of dividends totaled $8.0 million. Accordingly, $25.8 million of the
Corporation's investment in the Bank was restricted at December 31, 2004. Loans
and advances made by the Bank to the Corporation are generally limited to 10
percent of the Bank's stock and surplus. Accordingly, at December 31, 2004, Bank
funds available for loans or advances to the Corporation amounted to $3.6
million.


                                       36
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(20) PARENT-ONLY FINANCIAL STATEMENTS

The following condensed financial information presents the financial condition
of Community Central Bank Corporation, the Parent Holding Company, (the
"Parent") only, along with the results of its operations and its cash flow. The
Parent has recorded its investment in the Bank and Community Central Capital
Trust I at cost, plus the undistributed surplus of the Bank since it was formed.
The Parent recognizes undistributed income of the Bank as noninterest income,
and undistributed losses as noninterest expense. The Parent-only financial
information should be read in conjunction with the Corporation's consolidated
financial statements.

PARENT-ONLY BALANCE SHEET

<TABLE>
<CAPTION>
                                                   December 31,
                                                -----------------
                                                  2004      2003
                                                -------   -------
                                                  (In thousands)
<S>                                             <C>       <C>
Assets

Cash                                            $ 1,244   $ 2,984
Investment in subsidiary                         33,762    30,634
Investment in unconsolidated subsidiary             310        --
Other assets                                        828       577
                                                -------   -------
   Total Assets                                 $36,144   $34,195
                                                =======   =======

Liabilities and Stockholders' Equity

Due to subsidiary                               $   243   $   109
Subordinated debentures                          10,310    10,310
                                                -------   -------
   Total Liabilities                             10,553    10,419

Common stock                                     14,325    13,609
Additional paid-in capital                        6,449     5,308
Accumulated surplus                               5,111     5,225
Unearned employee benefit                          (205)     (271)
Accumulated other comprehensive income              (89)      (95)
                                                -------   -------
   Total Stockholders' Equity                    25,591    23,776
                                                -------   -------
   Total Liabilities and Stockholders' Equity   $36,144   $34,195
                                                =======   =======
</TABLE>


                                       37
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

PARENT-ONLY STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>
                                               Year Ended December 31,
                                              ------------------------
                                               2004     2003     2002
                                              ------   ------   ------
                                                   (In thousands)
<S>                                           <C>      <C>      <C>
Operating Income
   Interest income                            $   28   $   61   $   57
                                              ------   ------   ------
   Total Interest Income                          28       61       57
Dividend from subsidiary                         760      920      645
                                              ------   ------   ------
   Total Interest and Dividend Income            788      981      702
Interest Expense
   Subordinated debentures                       548      520      296
                                              ------   ------   ------
   Net interest (loss) income                    240      461      406
   Other expense                                 814      580      413
                                              ------   ------   ------
   Total Operating Expense                       814      580      413
                                              ------   ------   ------
   Loss Before Taxes and Undistributed
      Income of Subsidiary                      (574)    (119)      (7)
Income tax benefit                              (452)    (353)    (221)
                                              ------   ------   ------
   Loss (Income) Before Share in
      Undistributed Income of Subsidiary        (122)     234      214
Share of undistributed income of subsidiary    2,329    1,871    1,596
                                              ------   ------   ------
   Net Income                                 $2,207   $2,105   $1,810
                                              ======   ======   ======
</TABLE>


                                       38
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

PARENT-ONLY STATEMENT OF CASH FLOW

<TABLE>
<CAPTION>
                                                            Year Ended December 31,
                                                          ---------------------------
                                                            2004      2003      2002
                                                          -------   -------   -------
                                                                 (In thousands)
<S>                                                       <C>       <C>       <C>
Operating Activities
   Net income                                             $ 2,207   $ 2,105   $ 1,810
   Adjustments to reconcile net income to
      net cash flow from operating activities
      Undistributed income of subsidiary                   (2,329)   (1,871)   (1,596)
      (Increase) in other assets                             (218)     (111)     (329)
      Increase (decrease) increase in other liabilities       134       (37)       64
                                                          -------   -------   -------
   Net Cash (Used in) Provided by Operating Activities       (206)       86       (51)
Investing Activities
   Capital contribution to subsidiaries                    (1,036)     (162)   (7,632)
                                                          -------   -------   -------
   Net Cash Used in Investing Activities                   (1,036)     (162)   (7,632)

Financing Activities
   Stock options exercised/awards                              73       630        68
   Trust preferred securities                                  --        --    10,310
   Cash dividend paid                                        (571)     (541)     (401)
   Repurchase of stock                                         --      (196)      (43)
                                                          -------   -------   -------
   Net Cash (Used in) Provided by Financing Activities       (498)     (107)    9,934
                                                          -------   -------   -------
(Decrease) Increase in Cash                                (1,740)     (183)    2,251
Cash at the Beginning of the Period                         2,984     3,167       916
                                                          -------   -------   -------
Cash at the End of the Period                             $ 1,244   $ 2,984   $ 3,167
                                                          =======   =======   =======
</TABLE>


                                       39
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(21) SUBSEQUENT EVENTS

MERGER AGREEMENT BETWEEN COMMUNITY CENTRAL BANK CORPORATION AND RIVER PLACE
FINANCIAL CORP.

On February 15, 2005, Community Central Bank Corporation ("the Corporation")
entered into an Agreement and Plan of Merger (the "Merger Agreement") by and
among the Corporation, Community Central Bank (the "Bank"), and River Place
Financial Corp., a Michigan-chartered bank ("River Place"), pursuant to which
the Corporation will acquire all of the outstanding equity interests of River
Place.

River Place is a private bank wholly owned by the descendants of Julius Stroh,
founder of The Stroh Brewery Company. River Place was established in 1983 to
manage the private banking and trust needs of the Stroh family; and trusts
managed by its trust department owned and controlled Stroh Brewery until its
sale in 1999. Since the sale of Stroh Brewery, River Place's trust department
has continued to manage the financial assets of the Stroh family. William A.
Penner, CEO of River Place, will become the President of the Bank's newly
created trust division. After retiring as First Vice President and Business
Manager of Estate Settlement in a 30-year career for Comerica Bank, Mr. Penner
took over as President of River Place.

In accordance with the Merger Agreement, River Place will merge with and into
the Bank, with the Bank continuing as the surviving corporation. At least 80%,
and up to 100% of the consideration to be paid for all of the outstanding common
stock of River Place must be in restricted shares of common stock of the
Corporation ("Shares"). A maximum of 250,000 Shares will be issued.

Consummation of the transaction is subject to certain conditions, including
approval of the transaction by River Place stockholders and bank regulatory
authorities. Closing of the transaction is expected to occur in the second
quarter of 2005.

The Shares to be delivered in connection with the Merger Agreement will be
issued in a transaction exempt from registration under the Securities Act of
1933, as amended, by reason of Section 4(2) thereof, Regulation D, or other
private offering exemptions, and similar exemptions under applicable state
securities laws. The Shares will be issued with restricted security legends.

The pro forma effects of the acquisition on the Corporation's financial
statements is insignificant.

SUBSCRIPTION RIGHTS OFFERING OF COMMON STOCK.

On February 14, 2005 Community Central Bank Corporation completed a subscription
rights offering. The Corporation received gross proceeds of approximately $5.4
million from the offering and will use the proceeds to funds its growth
strategy, for working capital and for general corporate purposes. After giving
effect to the issuance of the shares in the offering, the Corporation had
3,275,050 shares of common stock outstanding.


                                       40
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The following discussion compares the financial condition of the Corporation and
its subsidiaries, at December 31, 2004 to December 31, 2003 and the results of
operations for the years ended December 31, 2004 and 2003. This discussion
should be read in conjunction with the financial statements and statistical data
presented elsewhere in this report. This report contains forward-looking
statements that are based on management's beliefs, assumptions, current
expectations, estimates and projections about the financial services industry,
the economy, and about the Corporation and the Bank. Words such as anticipates,
believes, estimates, expects, forecasts, intends, is likely, plans, projects,
variations of such words and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements are intended to be
covered by the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements are not guarantees of future performance
and involve certain risks, uncertainties and assumptions ("Future Factors") that
are difficult to predict with regard to timing, extent, likelihood and degree of
occurrence. Actual results and outcomes may materially differ from what may be
expressed or forecasted in the forward-looking statements. The Corporation
undertakes no obligation to update, amend, or clarify forward looking
statements, whether as a result of new information, future events (whether
anticipated or unanticipated), or otherwise.

Future Factors include changes in interest rate and interest rate relationships;
demand for products and services; the degree of competition by traditional and
non-traditional competitors; changes in banking regulation; changes in tax laws;
changes in accounting standards; changes in prices, levies, and assessments; the
impact of technological advances; governmental and regulatory policy changes;
the outcomes of contingencies; trends in customer behavior as well as their
ability to repay loans; the adequacy of the allowance for loan losses; changes
in the national and local economy, particularly as related to the automotive and
related industries in the Detroit metropolitan area; and other factors,
including risk factors, referred to from time to time in filings made by the
Corporation with the Securities and Exchange Commission. These are
representative of the Future Factors that could cause a difference between an
ultimate actual outcome and a preceding forward-looking statement.

EXECUTIVE SUMMARY

Community Central Bank Corporation is the holding company for Community Central
Bank in Mount Clemens, Michigan. The Corporation opened for business in October
1996 and serves businesses and consumers across Macomb, Oakland and St. Clair
counties with a full range of lending, deposit, and Internet banking services.
The Bank operates two full service facilities, one in Mount Clemens and the
other in Rochester Hills, Michigan. Community Central Mortgage Company, LLC a
subsidiary of the Corporation and Bank, operates locations in the Detroit
metropolitan area. The Corporation's common shares trade on the Nasdaq National
Market under the symbol "CCBD."

The results of operations depend largely on net interest income. Net interest
income is the difference in interest income the Corporation earns on
interest-earning assets, which comprise primarily commercial business and
commercial real estate loans and the interest the Corporation pays on our
interest-bearing liabilities, which are primarily certificates of deposit, money
market and demand deposits. Management strives to match the repricing
characteristics of the interest earning assets and interest bearing liabilities
to protect net interest income from changes in market interest rates and changes
in the shape of the yield curve. Management expects, based on current balance
sheet structure and modeling forecasts, that net interest margin will increase
slightly from the expected increase in the overnight federal funds interest rate
controlled by the Federal Open Market Committee of the Federal Reserve Bank.


                                       41
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The results of our operations may also be affected by local and general economic
conditions. The largest geographic segment of our customer base is in Macomb
County, Michigan. The economic base of the county continues to diversify from
the automotive service sector. This trend should lessen the impact on the County
of future economic downturns in the automotive sector of the economy. Macomb
County's proximity to major highways and affordable housing has continued to
spur economic growth in the area. Macomb County's outstanding debt has a current
credit rating of AAA from Moody's Investor Service as of April 2004. Changes in
the local economy may affect the demand for commercial loans and related small
to medium business related products. This could have a significant impact on how
the Corporation deploys earning assets. The competitive environment among other
financial institutions and financial service providers and the Bank in Macomb,
Oakland, and St. Clair counties of Michigan may affect the pricing levels of
various deposit products. The impact of competitive rates on deposit products
may increase the relative cost of funds for the Corporation and thus negatively
impact net interest income.

During 2004, the Corporation continued to grow its balance sheet consistent with
a traditional commercial banking model. The Corporation expanded its branching
base and assets and deposits through the acquisition of the Rochester Hills,
Michigan location of a full service branch of North Oakland Community Bank in
October 2003. The Corporation expects to continue growth through internal
expansion primarily through commercial banking practices. The primary funding
base of this growth is expected to be customer deposits, although
wholesale-based funding sources are and will continue to be used to supplement
growth should increases in loans and investments outpace deposit generation.
Additionally, should the cost of retail funding exceed wholesale alternatives,
wholesale funding sources will be considered.

Community Central Mortgage Company, LLC ("the Mortgage Company"), which is a
wholly owned mortgage-banking subsidiary of the Bank and the Corporation, has
also felt the effect of the nationwide slowdown in residential mortgage volumes.
The mortgage company has scaled back both variable and fixed costs to match the
reduced revenue because of this origination slowdown. The mortgage company did
contribute to the overall profitability of the Corporation in 2004, although the
performance was relatively lower than the contribution levels in 2003, when the
refinancing volumes were relatively higher.

On February 14, 2005 Community Central Bank Corporation completed a subscription
rights offering. The Corporation received gross proceeds of approximately $5.4
million from the offering and will use the proceeds to fund its growth strategy,
for working capital and for general corporate purposes. After giving effect to
the issuance of the shares in the offering, the Corporation had 3,275,050 shares
of common stock outstanding at that date.

On February 15, 2005, we entered into the Merger Agreement with River Place
discussed in Note 21 above.


                                       42
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

EARNINGS SUMMARY

     Major components of the operating results of the Corporation for the past
five years are presented in the following table. A discussion of these results
is presented in greater detail in subsequent pages.

Summary of Operations

<TABLE>
<CAPTION>
                                     2004      2003      2002      2001      2000
                                   -------   -------   -------   -------   -------
                                        (In thousands, except per share data)
<S>                                <C>       <C>       <C>       <C>       <C>
Interest income                    $19,725   $16,420   $14,956   $15,534   $16,680
Interest expense                     7,936     7,033     6,533     8,015     8,872
                                   -------   -------   -------   -------   -------
Net interest income                 11,789     9,387     8,423     7,519     7,808
Provision for credit losses          2,000       275       755       475       855

Non-interest income                  6,546     8,415     5,511     1,775       564
Non-interest expense                13,346    14,582    10,541     6,361     5,275
                                   -------   -------   -------   -------   -------
Income before taxes                  2,989     2,945     2,638     2,458     2,242

Provision for income tax expense       782       840       828       832       818
                                   -------   -------   -------   -------   -------
Net income                         $ 2,207   $ 2,105   $ 1,810   $ 1,626   $ 1,424
                                   =======   =======   =======   =======   =======
Per share data:
Basic earnings                     $  0.78   $  0.75   $  0.66   $  0.59   $  0.52
Diluted earnings                   $  0.76   $  0.74   $  0.65   $  0.59   $  0.52
Dividend declared                  $  0.20   $  0.20   $  0.15   $    --   $    --
</TABLE>

     Per share data has been retroactively adjusted for stock dividend.

ADDITIONAL DATA

<TABLE>
<CAPTION>
                                     2004       2003       2002       2001       2000
                                   --------   --------   --------   --------   --------
                                                  (Dollars in thousands)
<S>                                <C>        <C>        <C>        <C>        <C>
Total assets                       $391,538   $357,876   $287,636   $235,036   $211,639
Gross loans                         305,439    270,828    204,049    154,211    156,263
Allowance for credit losses           3,377      3,573      3,377      2,930      2,654

Total deposits                      278,856    255,356    200,719    192,314    186,139
Repurchase agreements                11,492     12,836      8,006      6,739      4,157
Subordinated debentures              10,310     10,000     10,000         --         --
Total stockholders' equity           25,591     23,776     22,147     20,477     18,717

Total nonperforming loans as a
   percentage of total loans           0.25%      0.18%      0.41%      1.67%      0.52%
Total allowance for credit
   losses as a percentage of
   total portfolio loans               1.11%      1.32%      1.65%      1.90%      1.70%

Return on average assets               0.57%      0.65%      0.70%      0.75%      0.73%
Return on average equity               8.98%      9.20%      8.49%      8.23%      7.93%
Dividend payout ratio                 25.87%     25.70%     22.15%        --         --
Average equity to average assets       6.34%      7.06%      8.26%      9.06%      9.15%
</TABLE>


                                       43
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

ASSETS

At December 31, 2004, the Corporation's total assets were $391.5 million, an
increase of $33.7 million from December 31, 2003, or 9.4%. Total loans of $305.4
million increased $34.6 million, or 12.8%, from December 31, 2003.

Commercial real estate loans, the largest segment of the Corporation's loan
portfolio, increased $16.9 million, or 11.3%, from December 31, 2003 to December
31, 2004. The Corporation continues to focus on commercial lending activities
centered on real estate collateral as the largest segment of lending operations
and expects to continue its focus on this segment of lending. At December 31,
2004, our commercial and industrial loans totaled $40.6 million, an increase of
$1.3 million, or 3.3% from December 31, 2003. The largest collateral segment of
the commercial and industrial loan portfolio at December 31, 2004, represented
loans secured by accounts receivable and to a lesser extent bonded contract
receivables totaling approximately $28.0 million. In most cases, the loans also
have additional collateral in the form of real estate, machinery and equipment
and/or personal guarantees.

The residential real estate portfolio, excluding home equity lines of credit
("HELOC"), increased $4.2 million, or 7.0%. The growth in 2004 was affected by
the sale of $10.2 million of residential adjustable rate mortgage loans during
the third quarter of 2004. Our HELOC portfolio increased $7.6 million, or 68.2%,
from December 31, 2003 to December 31, 2004. The mortgage subsidiary of the
Corporation continues to supplement the growth of this portfolio product. The
growth in the HELOC portfolio was attributable to loans generated from the
Mortgage Company based on incentive programs connected with first mortgage
production. The HELOCs float with the prime rate, are fully secured by real
estate and are generally originated with loan to values (including all priority
liens) of up to 95% of the appraised value of the real estate.

Installment loans increased $4.5 million, or 46.0%, primarily through direct
boat loans to consumers. The Corporation's geographic proximity to Lake St.
Clair and the lending experience in this area makes boat lending an advantageous
lending niche.

Mortgage loans held for sale totaled $6.5 million at December 31, 2004 compared
to $7.2 million at December 31, 2003. The mortgage loans were originated by the
Bank's mortgage subsidiary. Loans closed generally remain in loans held for sale
for less than 30 days in duration. Loans are normally committed for sale before
funding takes place.

The total investment securities portfolio at December 31, 2004 was $52.6
million, which was comprised of $51.4 million in available for sale securities
and $1.2 million in held to maturity securities. The security portfolio
consisted of government agency and bank qualified tax-exempt municipal
securities. The total security portfolio decreased $5.4 million from December
31, 2003. The net change occurred because of maturities, security calls and
sales from restructuring programs, as well as more attractive opportunities to
originate loans.

United States Government agency securities, which are primarily pledged against
overnight repurchase agreements, decreased $9.1 million from December 31, 2003
to December 31 2004 from calls, sales and maturities. Total mortgage backed
securities increased $8.0 million in 2004, with most of the increase occurring
in hybrid adjustable rate mortgage backed securities which offer defensive
attributes by repricing upward in a rising rate environment. Collateralized
mortgage obligations of $10.6 million decreased $4.7 million during 2004 due
primarily to restructuring activities to reduce the overall duration of the
portfolio. During the year ended December 31, 2004, the tax-exempt municipal
securities remained relatively unchanged in total amount with sold, called and
matured municipal bonds being replaced with overall shorter duration
instruments. At December 31, 2004, the available for sale portfolio had net
unrealized losses of $135,000 compared to a $144,000, net unrealized loss at
December 31, 2003.

The allowance for credit losses as a percentage of total loans was 1.11% at
December 31, 2004 versus 1.32% at December 31, 2003.


                                       44
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The ratio of net loan charge offs compared to total average loans for the period
ended December 31, 2004 was 0.74%, which was an increase of $2.1 million in net
loan charge offs from the period ended December 31, 2003. Net loan charge offs
for 2004 were $2.2 million compared to $79,000 in 2003. The largest portion of
the increase in loan charge offs in 2004 was attributable to $1.9 million in
commercial and industrial loans charged off in the second quarter of 2004. These
charge offs comprised substantially three lending relationships, with the
largest representing $1.0 million. The Bank is pursuing the borrower on fraud
and other claims with respect to the $1.0 million loan. The other two loan
charge offs of substance, totaling $778,000, represented loans from the purchase
and assumption of the North Oakland Bank branch office that had deteriorated. Of
the total loans charged off in the second quarter, a specific allowance of
$503,000 had been assigned to these credits in previous quarters as a part of
the overall allowance for credit losses. At December 31, 2004, the allowance for
credit losses had a larger allocation attributable to commercial and industrial
loans than at December 31, 2003. This was attributable to an increase in the
allowance for commercial and industrial related to impairment of loans and
historical loss factors. At December 31, 2004, the allocation of the allowance
for credit losses for commercial real estate loans decreased from December 31,
2003. This was primarily attributable to reduced levels of impairment and
relatively low historical losses.

At December 31, 2004, nonperforming loans, which represents nonaccruing loans
and those loans past due 90 days or more and still accruing interest, totaled
$775,000 compared to $484,000 at December 31, 2003, an increase of $291,000. The
overall increase in nonperforming loans related to an increase in commercial and
industrial loans of $217,000 in nonaccruing status and $123,000 in consumer
loans classified in the category of loans past due 90 days or more and still
accruing interest. Total nonperforming loans as a percentage of total loans was
0.25% at the end of 2004.

Loans are placed in nonaccrual status when, in the opinion of management,
uncertainty exists as to the ultimate collection of principal and interest. At
December 31, 2004, there was $541,000 of loans placed in nonaccrual status.
Commercial loans and lease financing receivables are reported as being in
nonaccrual status if: (a) they are maintained on a cash basis because of
deterioration in the financial position of the borrower, (b) payment in full of
interest or principal is not expected, or (c) principal or interest has been in
default for a period of 90 days or more. If it can be documented that the loan
obligation is both well secured and in the process of collection, the loan may
stay on accrual status. However, if the loan is not brought current before 120
days past due, the loan is reported as nonaccrual. A nonaccrual asset may be
restored to accrual status when none of its principal or interest is due and
unpaid, when it otherwise becomes well secured, or is in the process of
collection.

Management evaluates the condition of the loan portfolio on a quarterly basis to
determine the adequacy of the allowance for credit losses. Management's
evaluation of the allowance is further based on consideration of actual loss
experience, the present and prospective financial condition of borrowers,
adequacy of collateral, industry concentrations within the portfolio, and
general economic conditions. Management believes that the present allowance is
adequate, based on the broad range of considerations listed above.

The primary risk element considered by management regarding each installment and
residential real estate loan is lack of timely payment. Management has a
reporting system that monitors past due loans and has adopted policies to pursue
its creditor's rights in order to preserve the Bank's position. The primary risk
elements concerning commercial and industrial loans and commercial real estate
loans are the financial condition of the borrower, the sufficiency of
collateral, and lack of timely payment. Management has a policy of requesting
and reviewing annual financial statements from its commercial loan customers and
periodically reviews existence of collateral and its value.

At December 31, 2004, the Corporation had no loans that were not referenced in
Note 5 of the Notes to Consolidated Financial Statements where known information
about possible credit problems of borrowers caused management to have serious
doubts as to the ability of the borrowers to fully comply with present loan
repayment terms and which may result in disclosure of such loans in the future.

Although management believes that the allowance for credit losses is adequate to
absorb losses as they arise, there can be no assurance that the Bank will not
sustain losses in any given period that could be substantial in relation to the
size of the allowance for credit losses. It must be understood that inherent
risks and uncertainties related to the operation of a financial institution
require management to depend on estimates, appraisals and evaluations of loans
to


                                       45
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

prepare the Corporation's financial statements. Changes in economic conditions
and the financial prospects of borrowers may result in changes to the estimates,
appraisals and evaluations used. In addition, if circumstances and losses differ
substantially from management's assumptions and estimates, the allowance for
loan losses may not be sufficient to absorb all future losses, and net income
could be significantly impacted.

LIABILITIES

During the twelve months ended December 31, 2004, total deposits increased $23.5
million to $278.9 million. The increase in deposits was attributable to
increases in certificates of deposit and savings accounts of $12.1 million and
$14.2 million, respectively. Savings accounts increased due to the introduction
of a premium statement savings product paying competitive money market rates.
The increases in certificates of deposit were aided by premium rate offerings
primarily at the Rochester Hills branch location. The product offerings
attracted new customers for additional cross-selling opportunities. Growth in
demand, money market and NOW accounts decreased $2.8 million as the competitive
environment for these types of deposit products intensified in 2004. Local
municipal certificates of deposit of $46.3 million decreased $13.0 million from
December 31, 2003 as the Corporation utilized other wholesale sources of
funding, including internet and brokered certificates of deposit. At December
31, 2004, the Corporation had $50.1 million in brokered certificates of deposit,
which increased $24.9 million in 2004, with $2.7 million of this growth
occurring in certificates of deposit maturing after one year. At December 31,
2004, the Corporation had $27.6 million in internet certificates of deposit
compared to $21.5 million at December 31, 2003. See "Liquidity and Capital
Resources." The Corporation has been utilizing Federal Home Loan Bank ("FHLB")
advances in attempting to better manage its interest rate risk as described
below.

The short-term borrowings decreased $3.3 million to $28.5 million at December
31, 2004 from December 31, 2003, due to a decrease in short term repurchase
agreements of $1.3 million and a decrease of $2.0 million in short term FHLB
advances. Repurchase agreements are based on the seasonal needs for funds to the
commercial and municipal customers who utilize the program and may vary in total
size dependent upon the customer's needs. The weighted average interest rate on
the ending balance of the short-term borrowings for December 31, 2004 and
December 31, 2003, was 1.73% and 1.39%, respectively.

In June 2001, the Corporation started to borrow long-term advances from the FHLB
to fund fixed rate investments, as part of its efforts to manage the interest
rate risk associated with certain fixed rate commercial mortgage loans and
investment securities. These advances are secured under a blanket security
agreement by first mortgage loans and the pledging of certain securities. The
total FHLB advances were comprised of $17.0 million in short term advances with
a weighted average rate of 2.23% and long term advances of $46.4 million with a
weighted average rate of 3.90%. The aggregate weighted rate of the entire FHLB
advance portfolio was 3.45% with a weighted average remaining maturity of 2.8
years as of December 31, 2004. Long-term advances comprised twenty-six advances
maturing from February 2006 to December 2012.

STOCKHOLDERS' EQUITY

Stockholders' equity was $25.6 million as of December 31, 2004. This was an
increase of $1.8 million for the year ended December 31, 2004. The change in
total stockholders' equity was largely related to the increase in net income for
2004 of $2.2 million, partially offset by dividends declared in 2004 of
$571,000. Stock options exercised in 2004, the release of ESOP shares and the
change in other comprehensive income contributed to growth in stockholders'
equity for the same period. On April 20, 2004, Community Central Bank
Corporation declared a 5% stock dividend, payable on June 1, 2004 to
stockholders of record on May 3, 2004. The outstanding number of shares,
earnings per share, exercise price data and common stock price data have been
adjusted to reflect this dividend. Retained earnings, common stock and
additional paid-in-capital were adjusted to reflect the stock dividend as
indicated in the Consolidated Statement of Changes in Stockholders' Equity.


                                       46
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

NET INTEREST INCOME

The following table shows the dollar amount of changes in net interest income
for each major category of interest earning asset and interest bearing
liability, and the amount of change attributable to changes in average balances
(volume) or average rates for the periods shown. Variances that are jointly
attributable to both volume and rate changes have been allocated to the volume
component.

<TABLE>
<CAPTION>
                                                            Year Ended                     Year Ended
                                                    December 31, 2004 vs. 2003     December 31, 2003 vs. 2002
                                                   ----------------------------   ----------------------------
                                                            Increase (Decrease)            Increase (Decrease)
                                                             Due to Changes In              Due to Changes In
                                                            -------------------            ------------------
                                                              Volume                        Volume
                                                    Total    and Both    Rate      Total   and Both     Rate
                                                   ------    --------   -----     ------   --------   -------
                                                                          (In thousands)
<S>                                                <C>      <C>         <C>       <C>      <C>        <C>
Earning Assets - Interest Income
   Loans                                           $3,061     $3,416    $(355)    $2,153    $3,675    $(1,522)
   Securities                                         229        (95)     324       (499)      174       (673)
   Federal funds sold                                  15          1       14       (190)      (89)      (101)
                                                   ------     ------    -----     ------    ------    -------
      Total                                         3,305      3,322      (17)     1,464     3,760     (2,296)
                                                   ------     ------    -----     ------    ------    -------

Deposits and Borrowed Funds - Interest Expense
   NOW and money market accounts                      (10)        46      (56)       129       158        (29)
   Savings deposits                                   204        145       59        (29)       (6)       (23)
   Time deposits                                      622      1,083     (461)      (461)      330       (791)
   Other borrowings                                    47        124      (77)       778       988       (210)
   Capitalized lease obligation and ESOP loan          (3)        (3)      --       (134)      (44)       (90)
   Subordinated debentures                             43         16       27        217       245        (28)
                                                   ------     ------    -----     ------    ------    -------
      Total                                           903      1,411     (508)       500     1,671     (1,171)
                                                   ------     ------    -----     ------    ------    -------
Net Interest Income                                $2,402     $1,911    $ 491     $  964    $2,089    $(1,125)
                                                   ======     ======    =====     ======    ======    =======
</TABLE>

Net interest income was $11.8 million for the year ended December 31, 2004,
which was an increase of $2.4 million or 25.6% over the year ended December 31,
2003. The net interest margin, as measured on a tax equivalent basis, was 3.31%
for 2004 compared with 3.10% in 2003. The growth in loan volume as well as an
overall lower cost of funds, were the primary reasons for the increase in net
interest income for 2004.


                                       47
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The average yield on earning assets for 2004 was 5.39% compared to 5.31% in
2003. The average annualized yield on the security portfolio increased to 3.80%
in 2004 from 3.25% in 2003, aided by increases in short term interest rates and
a slow down in payments received on mortgage-backed securities. In 2004, the
refinancing activity of residential mortgages slowed throughout the country and
had a corresponding impact on the mortgage backed security sector. The
Corporation's security portfolio contained both mortgage backed securities
("MBS") and collateralized mortgage obligations ("CMOs"). Since the majority of
these securities owned by the Corporation had been purchased at a premium, as
the payment stream slowed the amortization period of premium lengthened and,
therefore, the yield on the instruments increased. The Corporation did
restructure this segment of the portfolio to shorten the average life and
duration of these types of securities. The average yield on our loan portfolio
in 2004 was 5.80% which was a decrease from 5.95% in 2003. Although short term
interest rates did increase in 2004, the growth in prime rate loans was at a
lower relative yield compared to the rest of the fixed rate portfolio. The prime
interest rate stood at 4.00% for the first half of 2004, before increasing
during the last half of the year as a result of overnight federal funds
increases. The increase in total loan volume during 2004 was the primary reason
for the increase in interest income.

The average rate paid on interest bearing liabilities in 2004 was 2.43% compared
to 2.65% in 2003. The decrease in the average rate was primarily due to an
overall drop in rate paid on the time deposit portfolio, decreasing to 2.47% in
2004 from 2.79% in 2003. The decrease in rate on time deposits was attributable
to maturities of time deposits with relatively higher interest rates. The rate
on NOW and money market accounts decreased slightly in 2004, from 1.15% in 2003
to 1.00% in 2004. The average rate on savings accounts increased to 1.64% from
0.62% as the Corporation introduced a premium statement savings product paying
competitive money market rates. The average rate on FHLB advances and repurchase
agreements decreased to 2.91% in 2004 from 3.03% in 2003 as maturities on FHLB
advances had relatively higher rates than existing and new advances. The rate on
subordinated debentures increased slightly in 2004 to 5.32%, as this instrument
is priced quarterly based on the three month libor rate.


                                       48
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The following table shows the Corporation's consolidated average balances of
assets, liabilities, and equity. The table also details the amount of interest
income or interest expense and the average yield or rate for each category of
interest earning asset or interest bearing liability, and the net interest
margin for the periods indicated. The average balance of securities represents
amortized cost. Nonaccruing loans are included in the average loans outstanding
with no yield associated with them.

<TABLE>
<CAPTION>
                                                                       Year Ended December 31,
                                        -------------------------------------------------------------------------------------
                                                    2004                         2003                         2002
                                        ---------------------------  ---------------------------  ---------------------------
                                                  Interest  Average            Interest  Average            Interest  Average
                                         Average   Income/   Yield/   Average   Income/   Yield/   Average   Income/   Yield/
                                         Balance   Expense    Rate    Balance   Expense    Rate    Balance   Expense    Rate
                                        --------  --------  -------  --------  --------  -------  --------  --------  -------
                                                                            (In thousands)
<S>                                     <C>       <C>       <C>      <C>       <C>       <C>      <C>       <C>       <C>
Assets
   Loans                                $301,637   $17,498   5.80%   $242,742   $14,437   5.95%   $180,953   $12,284    6.79%
   Securities                             55,825     2,122   3.80      58,330     1,893   3.25      52,978     2,392    4.52
   Federal funds sold                      8,321       105   1.26       8,257        90   1.09      16,449       280    1.70
                                        --------   -------   ----    --------   -------   ----    --------   -------   -----
   Total Earning Assets/
      Total Interest Income/
      Average Yield                      365,783    19,725   5.39%    309,329    16,420   5.31%    250,380    14,956    5.97%
                                                   -------   ----               -------   ----               -------   -----
   Cash and due from banks                 7,313                        6,247                        6,089
   All other assets                       14,204                        8,436                        1,579
                                        --------                     --------                     --------
   Total Assets                         $387,300                     $324,012                     $258,048
                                        ========                     ========                     ========
Liabilities and Equity
   NOW and money market accounts        $ 42,633       426   1.00%   $ 38,007       436   1.15%   $ 24,205       307    1.27%
   Savings deposits                       14,627       240   1.64       5,815        36   0.62       6,784        65    0.96
   Time deposits                         190,957     4,725   2.47     147,199     4,103   2.79     135,349     4,564    3.37
   FHLB advances and repurchase
      Agreements                          68,278     1,987   2.91      64,034     1,940   3.03      31,412     1,162    3.70
   Capitalized lease and ESOP                237        10   4.22         297        13   4.38       1,308       147   11.24
   Subordinated debentures                10,310       548   5.32      10,000       505   5.05       5,151       288    5.59
                                        --------   -------   ----    --------   -------   ----    --------   -------   -----
   Total Interest Bearing Liabilities/
      Total Interest Expense/Average
      Interest Rate Spread               327,042     7,936   2.43%    265,352     7,033   2.65%    204,209     6,533    3.20%
                                                   -------   ----               -------   ----               -------   -----
   Noninterest bearing demand deposits    34,567                       34,655                       31,674
   All other liabilities                   1,124                        1,119                          858
   Stockholders' equity                   24,567                       22,886                       21,307
                                        --------                     --------                     --------
   Total Liabilities and Stockholders'
      Equity                            $387,300                     $324,012                     $258,048
                                        ========                     ========                     ========
Net Interest Income                                $11,789                      $ 9,387                      $ 8,423
                                                   =======                      =======                      =======
Net Interest Margin (Net Interest
   Income/Total Earning Assets)                              3.22%                        3.03%                         3.36%
                                                             ----                         ----                         -----
Taxable equivalent                                           3.31%                        3.10%                         3.43%
                                                             ====                         ====                         =====
</TABLE>


                                       49
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

PROVISION FOR CREDIT LOSSES

The provision for credit losses for the year ended December 31, 2004 was $2.0
million, an increase of $1.7 million from 2003. The increase in provision for
2004 was primarily attributable to a few large loans that had significant
impairment identified and provided for in the second quarter of 2004, and were
subsequently charged off. The largest single loan charge off was $1.0 million on
a commercial and industrial loan. Due in part to the fraudulent nature of this
loan, financial information supplied by the borrower to the Bank, prior to
discovery by the Bank, did not warrant an elevated allocation of the allowance,
over the prior reporting periods other than for a normal performing loan with
similar known risk characteristics. Upon management's discovery of the loan
impairment in the second quarter of 2004, the loan was recorded in nonaccrual
status and subsequently charged off to the recoverable amount in that same
quarter. As of December 31, 2004, no loan relationships related to the borrower
existed in the total loan portfolio of the Bank. The Bank is pursuing the
borrower for fraud and other claims related to this relationship. The remaining
charge offs were largely due to two loans totaling $778,000 and represented
loans that had deteriorated from the purchase and assumption of a branch office
of North Oakland Community Bank. (See Management's Discussion and Analysis of
Financial Condition and Results of Operations- Assets)

NONINTEREST INCOME

Noninterest income was $6.5 million in 2004, a decrease of $1.9 million, or
22.2%, compared to $8.4 million in 2003. The largest component of the decrease
was mortgage banking income of $5.3 million, which decreased $2.1 million or
28.8%. The decrease in mortgage originations and the corresponding level of
gains on the sales of mortgages was affected by the nationwide decrease in
mortgage refinancing resulting from rising market interest rates. Service charge
income in 2004 was $298,000, an increase of $63,000, or 26.8%, over 2003. The
increase in service charge income was due to the addition of the Rochester
branch in the fourth quarter of 2003, coupled with selected increases in the
fees assessed to customers on checking and other applicable deposit accounts.
Net security gains of $191,000 were primarily the result of security
restructuring activity to shorten security duration. Total net security gains
represented $335,000 in gross gains and $144,000 in security losses. Total
security gains were $226,000 lower in 2004 than in 2003. Other non-interest
income for 2004 of $801,000 increased $416,000, or 108.1%, compared to 2003. The
increase in other noninterest income was primarily attributable to the gain on
the sale of portfolio loans of $255,000. This noninterest income was generated
from sales of selected residential mortgages and government guaranteed loans
held in the Bank's portfolio. Other areas of other noninterest income which
increased in 2004 were increases in the cash surrender value of Bank Owned Life
Insurance, up $47,000 from 2003, and non-customer usage of ATM fees and related
interchange fees, up $38,000 from 2003.

NONINTEREST EXPENSE

Noninterest expense in 2004 was $13.3 million, a decrease of $1.2 million from
2003, or 8.5%. Salary, benefits and payroll taxes for 2004 were $7.9 million, a
decrease of $1.5 million compared to 2003. Salaries, benefits and payroll taxes
related to the Mortgage Company decreased $2.0 million in 2004 compared to 2003.
The decrease in salaries, benefits and payroll taxes from the Mortgage Company
was directly related to the decrease in mortgage banking income noted above in
noninterest income, as the majority of this expense is related to variable
commission based compensation. Salaries and benefits from the operations of the
Rochester branch, coupled with general merit increases for the overall
organization comprised the remainder of the net change in overall salaries and
benefit expense. Total premises and fixed asset expense of $1.5 million for 2004
increased $230,000, or 18.1%, due primarily to the Rochester Hill branch
operations which represented $139,000, or 60.4%, of the increase. Other
operating expenses of $4.0 million in 2004 increased slightly by $62,000, or
1.6% compared to 2003. Included in this category of noninterest expense were
advertising, business development and public relations expense of $742,000 for
2004, which decreased $125,000 over 2003, as advertising efforts were redirected
and in some areas cut back from prior levels. Data processing expense of
$441,000 decreased $160,000 in 2004 from $601,000. This was attributable to a
decrease negotiated by the Corporation upon renewal of the contract with its
outsourced data processing vendor. Professional fees decreased $155,000 to
$308,000 from $463,000 in 2003, largely due to charges connected with the
purchase and assumption of a branch office of North Oakland Community Bank in
2003. Legal expenses for 2004 were $554,000, up from $238,000 in 2003. The
increase in legal fees was due in part to the increased costs associated with
workout loans.


                                       50
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

INCOME TAXES

The provision for federal income taxes of $782,000 for 2004 decreased $58,000 or
6.90%, from the amount of the federal income tax provision in 2003. The decrease
was attributed to a lower effective tax rate in 2004 over 2003. The effective
tax rate for 2004 and 2003 was 26.2% and 28.5%, respectively. The lower
effective tax rate during 2004 was attributable to investments in bank qualified
tax-exempt securities at higher carrying levels in 2004 over 2003. Also
contributing to the lower effective tax rate in 2004 over 2003 was the Bank's
ownership in bank owned life insurance (BOLI), which was purchased in the second
quarter of 2003. The increase in cash surrender value of BOLI is exempt from
federal income tax.


                                       51
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES; ASSET/LIABILITY MANAGEMENT

The liquidity of a bank allows it to provide funds to meet loan requests, to
accommodate possible outflows of deposits, and to take advantage of other
investment opportunities. Funding of loan requests, providing for liability
outflows, and managing interest rate margins require continuous analysis to
attempt to match the maturities and repricing of specific categories of loans
and investments with specific types of deposits and borrowings. Bank liquidity
depends upon the mix of the banking institution's potential sources and uses of
funds. The major sources of liquidity for the Bank have been deposit growth,
federal funds sold, loans and securities which mature within one year, and sales
of residential mortgage loans. Additional liquidity is provided by $22.5 million
in available unsecured federal funds borrowing facilities, and a $75.0 million
secured line of credit with the FHLB. Large deposit balances which might
fluctuate in response to interest rate changes are closely monitored. These
deposits consist mainly of jumbo certificates of deposit. We anticipate that we
will have sufficient funds available to meet our future commitments. As of
December 31, 2004, unused commitments comprised $72.6 million. The Bank has
$124.2 million in time deposits coming due within the next twelve months from
December 31, 2004. At December 31, 2004, the Bank had $50.1 million in brokered
certificates of deposit, of which $28.5 million is due within one year or less.
The Bank will continue to use brokered certificates and other wholesale funding
sources for replacement sources of matured funds. Additionally, at December 31,
2004, municipal time deposits and internet time deposits were $46.3 million and
$27.6 million, respectively. Municipal time deposits typically have maturities
less than three months. $9.4 million of internet certificates of deposit mature
in one year or less. On November 16, 2004, the Corporation's Board of Directors
declared the Corporation's eleventh consecutive quarterly cash dividend of $0.05
per common share, payable January 3, 2005, to shareholders of record December 1,
2004.

The largest uses and sources of cash and cash equivalents for the Corporation
for the year ended December 31, 2004, as noted in the Consolidated Statement of
Cash Flow, were centered primarily on the uses of cash in investing activities
and the net cash provided by financing activities. The uses of cash in investing
activities were largely due to the increase in loans of $36.8 million, offset
only partially by a net reduction in total securities of $5.1 million. The
purchase of property and equipment for $3.4 million was primarily due to the
construction of the new administration building for the Corporation and Bank.
Offsetting the uses of cash in investing activities, was the area of cash
provided from financing activities which included net increases in demand and
savings deposits, time deposits and FHLB advances of $11.4 million, $12.1
million and $9.0 million, respectively. The total net cash provided from
operating activities was $5.5 million and was largely attributable to net income
of $2.2 million and a provision for credit losses of $2.0 million. Total Cash
and cash equivalents at the end of December 31, 2004 increased to $7.1 million
from the year ended December 31, 2003, which was $6.2 million.

In January of 2003, the Bank purchased property adjacent to its main office
known as 120 North Main Street. In March of 2004, the Bank started construction
of a new building at this location to be used as the headquarters for
administration, commercial banking and mortgage operations. The construction and
development costs are expected to be offset, on an annualized per square foot
basis, by the corresponding reduction in lease expense currently paid to an
outside landlord. At December 31, 2004, $3.6 million had been spent on a project
expected to cost a total of $4 million, including land costs.

Management believes the capital provided from the subscription rights offering
of approximately $5.4 million will allow the Corporation and Bank to continue to
grow and maintain a well capitalized position. See Note 21 of the Notes to
Consolidated Financial Statement for information on this subsequent event.

On February 15, 2005, the Corporation entered into an agreement to acquire all
of the outstanding equity interests of River Place Financial Corporation.
Management has the current capital position and cash available for this
transaction. See Note 21 of the Notes to Consolidated Financial Statement for
information on this subsequent event.


                                       52
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Managing rates on earning assets and interest bearing liabilities focuses on
maintaining stability in the net interest margin, an important factor in
earnings growth and stability. Emphasis is placed on maintaining a controlled
rate sensitivity position, to avoid wide swings in margins and to manage risk
due to changes in interest rates.

The Corporation's Asset Liability Committee ("ALCO") meets periodically. Some of
the major areas of focus of the ALCO incorporate the following overview
functions: review the interest rate risk sensitivity of the Bank to measure the
impact of changing interest rates on the Bank's net interest income, review the
liquidity position through various measurements, review current and projected
economic conditions and the corresponding impact on the Bank, ensure that
capital and adequacy of the allowance for loan losses are maintained at proper
levels to sustain growth, monitor the investment portfolio, recommend policies
and strategies to the Board that incorporate a better balance of our interest
rate risk, liquidity, balance sheet mix and yield management, and review the
current balance sheet mix and proactively determine the future product mix.

The Corporation currently utilizes two quantitative tools to measure and monitor
interest rate risk: static gap analysis and net interest income simulation
modeling. Each of these interest rate risk measurements has limitations, but
management believes when these tools are evaluated together, they provide a
balanced view of the exposure the Corporation has to interest rate risk.

Interest sensitivity gap analysis measures the difference between the assets and
liabilities repricing or maturing within specific time periods. An
asset-sensitive position indicates that there are more rate-sensitive assets
than rate-sensitive liabilities repricing or maturing within specific time
periods, which would generally imply a favorable impact on net interest income
in periods of rising interest rates and a negative impact in periods of falling
rates. A liability-sensitive position would generally imply a negative impact on
net interest income in periods of rising rates and a positive impact in periods
of falling rates.

Gap analysis has limitations because it cannot measure precisely the effect of
interest rate movements and competitive pressures on the repricing and maturity
characteristics of interest-earning assets and interest-bearing liabilities. In
addition, a significant portion of our adjustable-rate assets have limits on
their minimum and maximum yield, whereas most of our interest-bearing
liabilities are not subject to these limitations. As a result, certain assets
and liabilities indicated as repricing within a stated period may in fact
reprice at different times and at different volumes, and certain adjustable-rate
assets may reach their yield limits and not reprice.


                                       53
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The following table presents an analysis of our interest-sensitivity gap
position at December 31, 2004. All interest-earning assets and interest-bearing
liabilities are shown based on the earlier of their contractual maturity or
repricing date adjusted by forecasted prepayment and decay rates, our historical
experience, and the repricing and prepayment characteristics of portfolios
acquired through acquisition.

<TABLE>
<CAPTION>
                                                   After Three   After One
                                         Within     Months But    Year But     After
                                          Three       Within       Within       Five
                                         Months      One Year    Five Years    Years      Total
                                        --------   -----------   ----------   -------   --------
                                                              (In thousands)
<S>                                     <C>        <C>           <C>          <C>       <C>
Interest earning assets
   Federal funds sold                   $  3,000    $      --     $     --    $    --   $  3,000
   Securities, at amortized cost          11,598        3,721       30,804      6,598     52,721
   FHLB stock                                 --           --           --      3,246      3,246
   Loans (including held for sale)       148,855       40,537       91,871     30,667    311,930
                                        --------    ---------     --------    -------   --------
      Total                              163,453       44,258      122,675     40,511   $370,897
                                                                                        ========
Interest bearing liabilities
   NOW and money market accounts           3,208       16,467       20,771         --     40,446
   Savings deposits                        2,054        5,956       12,529         --     20,539
   Jumbo time deposits                    54,832       35,763       33,329      1,492    125,416
   Time deposits < $100,000                7,304       26,358       26,713         --     60,375
   Repurchase agreements                  11,492           --           --         --     11,492
   FHLB                                   11,000        6,000       35,860     10,500     63,360
   Capitalized lease obligation and
      ESOP loan                              205           --           --         --        205
   Subordinated debentures                10,310           --           --         --     10,310
                                        --------    ---------     --------    -------   --------
      Total                              100,405       90,544      129,202     11,992   $332,143
                                        --------    ---------     --------    -------   ========

Rate sensitivity gap                    $ 63,048     ($46,286)     ($6,527)   $28,519
                                        ========    =========     ========    =======

Cumulative rate sensitivity gap                     $  16,762     $ 10,235    $38,754
                                                    =========     ========    =======

Rate sensitivity gap ratio                  1.63x        0.49x        0.95x      3.69x

Cumulative rate sensitivity gap ratio                    1.09x        1.03x      1.12x
</TABLE>


                                       54
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The Bank also evaluates interest rate risk using a simulation model. The use of
simulation models to assess interest rate risk is an accepted industry practice,
and the results of the analysis are useful in assessing the vulnerability of the
Bank's net interest income to changes in interest rates. However, the
assumptions used in the model are oversimplifications and not necessarily
representative of the actual impact of interest rate changes. The simulation
model assesses the direction and magnitude of variations in net interest income
resulting from potential changes in market interest rates. Key assumptions in
the model include prepayment speeds of various loan and investment assets; cash
flows and maturities of interest-sensitive assets and liabilities, and changes
in market conditions impacting loan and deposit volumes and pricing. These
assumptions are inherently uncertain, and subject to fluctuation and revision in
a dynamic environment. Therefore, the model cannot precisely estimate future net
interest income or exactly predict the impact of higher or lower interest rates.
Actual results may differ from simulated results due to, among other factors,
the timing, magnitude and frequency of interest rate changes, changes in market
conditions and management's pricing decisions and customer reactions to those
decisions.

On a quarterly basis, the net interest income simulation model is used to
quantify the effects of hypothetical changes in interest rates on the Bank's net
interest income over a projected twelve-month period. The model permits
management to evaluate the effects of shifts in the Treasury yield curve, upward
and downward, on net interest income expected in a stable interest rate
environment.

As of December 31, 2004, the table below reflects the impact the various
instantaneous parallel shifts in the yield curve would have on net interest
income over a twelve month period of time from the base forecast.

<TABLE>
<CAPTION>
                                          Percentage Change
Interest Rate Scenario                 In Net Interest Income
----------------------                 ----------------------
<S>                                    <C>
Interest rates up 300 basis points              3.24%
Interest rates up 200 basis points              2.70%
Interest rates up 100 basis points              1.64%
Base Case                                         --
Interest rates down 100 basis points           (2.00%)
Interest rates down 200 basis points           (1.76%)
Interest rates down 300 basis points           (3.46%)
</TABLE>


                                       55
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
STOCKHOLDER INFORMATION

SEC FORM 10-KSB

Copies of the Corporation's annual report on Form 10-KSB, as filed with the
Securities and Exchange Commission are available to stockholders without charge,
upon written request. Please mail your request to Ray T. Colonius; Corporate
Treasurer, Community Central Bank Corporation, 100 North Main Street, PO Box 7,
Mount Clemens, MI 48046-0007.

STOCK INFORMATION

The common stock of Community Central Bank Corporation is traded on The Nasdaq
National Market under the ticker symbol "CCBD." At December 31, 2004, there were
2,864,907 shares of Community Central Bank Corporation common stock issued and
outstanding and approximately 460 shareholders of record.

The following table presents the quarterly range of high and low sales prices of
Community Central Bank Corporation for 2003 and 2004, as well as the dividends
declared during the stated periods. The price information set forth in the table
was reported by The Nasdaq National Market, and does not include retail mark-up,
mark-down or dealer commission. Our cash dividend payout policy is continually
reviewed by management and the Board of Directors. Dividend payment decisions
are made after considering a variety of factors, including earnings, financial
condition, market considerations and regulatory restrictions. The Corporation
relies significantly upon dividends originating from the Bank to accumulate cash
for payment of dividends to our stockholders. Restrictions of dividend payments
from the Bank are described in Note 19 of the Notes to Consolidated Statements
included in this Annual Report.

<TABLE>
<CAPTION>
                2004           Cash
          ---------------   Dividends
Quarter    High      Low     Declared
-------   ------   ------   ---------
<S>       <C>      <C>      <C>
Fourth    $14.20   $11.36      $.05
Third      13.80    10.80       .05
Second     13.50    12.61       .05
First      13.81    11.91       .05
</TABLE>

<TABLE>
<CAPTION>
                2003           Cash
          ---------------   Dividends
Quarter    High      Low     Declared
-------   ------   ------   ---------
<S>       <C>      <C>      <C>
Fourth    $13.83   $10.46      $.05
Third      11.43     9.52       .05
Second     10.97     8.79       .05
First       9.86     8.56       .05
</TABLE>

Price information has been retroactively adjusted for stock dividend.


                                       56
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
STOCKHOLDER INFORMATION

<TABLE>
<S>                                    <C>
PRIMARY MARKET MAKERS

Raymond James & Associates, Inc.       Howe Barnes Investment, Inc.
880 Carillon Park                      222 South Riverside Plaza, 7th Floor
St. Petersburg, FL 33716               Chicago, IL 60606

McConnell Budd & Downes, Inc.          Knight Securities, L.P.
365 South Street                       525 Washington Blvd.
Morristown, NJ 07960                   Jersey City, NJ 07310

Hill, Thompson, Magid & Co., Inc.      Susquehanna Capital Group
15 Exchange Place                      401 City Avenue
Jersey City, NJ 07302-3912             Balacynwd, PA 19003

Wedbush Morgan Securities, Inc.        Donnelly, Penman & Partners
1000 Wilshire Blvd., 9th Floor         1373 Grandview Avenue, Suite 208
Los Angeles, CA 90017                  Columbus, OH 43212
</TABLE>

UBS Capital Markets, L.P.
111 Pavosia Avenue East
Jersey City, NJ 07310

STOCK REGISTRAR AND TRANSFER AGENT

EquiServe Trust Company, N.A.
PO Box 43010
Providence, RI 02940-3010
Shareholder Inquiries 1-800-426-5523
www.equiserve.com

INDEPENDENT AUDITOR

Plante & Moran, PLLC
2601 Cambridge Ct., Suite 500
Auburn Hills, MI 48326

LEGAL COUNSEL

Silver, Freedman & Taff, LLP
1700 Wisconsin Avenue, N.W.
Washington D.C. 20007

INFORMATION

News media representatives and those seeking additional information about the
Corporation should contact Ray T. Colonius, Corporate Treasurer, at (586)
783-4500, or by writing him at 120 North Main Street, PO Box 7, Mount Clemens,
MI 48046-0007.

ANNUAL MEETING

This year's annual meeting of stockholders will be held at 9:00 a.m., on
Tuesday, April 19, 2005, at Best Western Concorde Inn, 44315 Gratiot Avenue,
Clinton Township, MI 48036.


                                       57