<PAGE>
                                   EXHIBIT 13

                       COMMUNITY CENTRAL BANK CORPORATION

                          Independent Auditor's Report

                                       and

                               Stockholder Report

                                December 31, 2003


<PAGE>



INDEPENDENT AUDITOR'S REPORT

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, 2003 and 2002, and the related consolidated
statements of income, comprehensive income, changes in stockholders' equity, and
cash flows for the years ended December 31, 2003, 2002 and 2001. 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 audit.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform our 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, 2003, and 2002, and the
results of its operations for the years ended December 31, 2003, 2002 and 2001,
in conformity with accounting principles generally accepted in the United States
of America.

S/ PLANTE & MORAN, PLLC


Auburn Hills, Michigan
January 23, 2004


<PAGE>


COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED BALANCE SHEET
<TABLE>
<CAPTION>
                                                                                     December 31,
                                                                              -------------------------
                                                                                 2003            2002
                                                                                 ----            ----
Assets
                                                                                    (in thousands)
<S>                                                                           <C>             <C>
Cash and Cash Equivalents
   Cash and due from banks (Note 2)                                           $   5,127       $   6,405
   Federal funds sold                                                             1,100           3,000
                                                                              ---------       ---------
   Total Cash and Cash Equivalents                                            $   6,227           9,405

Securities available for sale, at fair value (Note 3)                            57,135          57,200
Securities held to maturity, at amortized cost (Note 3)                             895           1,290
FHLB stock                                                                        3,103           2,219
Residential mortgage loans held for sale                                          7,241          11,245

Loans (Note 4)
   Residential mortgage loans                                                    71,263          46,322
   Commercial loans                                                             189,099         152,044
   Installment loans                                                             10,466           5,683
                                                                              ---------       ---------
   Total Loans                                                                  270,828         204,049
Allowance for credit losses (Note 5)                                             (3,573)         (3,377)
                                                                              ---------       ---------
   Net Loans                                                                    267,255         200,672

Net property and equipment (Note 6)                                               3,977           1,886
Accrued interest receivable                                                       1,305           1,270
Other real estate                                                                   363             320
Goodwill (Note 1)                                                                   743              --
Core deposit intangible, net of amortization (Note 1)                               248              --
Cash surrender value of Bank owned life insurance                                 7,222              --
Other assets                                                                      2,162           2,129
                                                                              ---------       ---------
   Total Assets                                                               $ 357,876       $ 287,636
                                                                              =========       =========
</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,
                                                                              -------------------------
                                                                                 2003            2002
                                                                                 ----            ----
Liabilities
                                                                          (in thousands, except share data)
<S>                                                                           <C>             <C>
Deposits
   Noninterest bearing demand deposits                                        $  33,814       $  32,235
   NOW and money market accounts                                                 41,484          31,565
   Savings deposits                                                               6,389           5,332
   Time deposits (Note 7)                                                       173,669         131,587
                                                                              ---------       ---------
   Total deposits                                                               255,356         200,719
Repurchase agreements (Note 8)                                                   12,836           8,006
Federal Home Loan Bank advances (Note 9)                                         54,374          44,388
Accrued interest payable                                                            511             483
Other liabilities                                                                   752             621
Capitalized lease obligation (Note 10)                                               --             951
ESOP note payable (Note 11)                                                         271             321
Guaranteed preferred beneficial interest in
   the Corporation's subordinated debentures (Note 12)                           10,000          10,000
                                                                              ---------       ---------
   Total Liabilities                                                            334,100         265,489

Stockholders' Equity (Note 13)
   Common stock ($5 stated value; 9,000,000 shares authorized,
     and 2,721,875 issued and outstanding at
     12-31-2003 and 2,665,778 at 12-31-2002)                                     13,609          13,329
   Additional paid-in capital                                                     5,308           5,035
   Accumulated surplus                                                            5,225           3,759
   Unearned employee benefit                                                       (271)           (321)
   Accumulated other comprehensive (loss) income                                    (95)            345
                                                                              ---------       ---------
   Total Stockholders' Equity                                                    23,776          22,147
                                                                              ---------       ---------
   Total Liabilities and Stockholders' Equity                                 $ 357,876       $ 287,636
                                                                              =========       =========
</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,
                                                              ---------------------------------
                                                               2003          2002        2001
                                                               ----          ----        ----
                                                             (in thousands, except per share data)
<S>                                                           <C>          <C>          <C>
Interest Income
   Loans (including fees)                                     $14,437      $12,284      $12,633
Taxable securities                                              1,505        2,076        1,801
   Tax exempt securities                                          388          316          126
   Federal funds sold                                              90          280          974
                                                              -------      -------      -------
   Total Interest Income                                       16,420       14,956       15,534

Interest Expense
   NOW and money market accounts                                  436          307          240
   Savings deposits                                                36           65          156
   Time deposits                                                4,103        4,564        6,984
   Repurchase agreements                                          112          146          178
   Federal Home Loan Bank advances                              1,828        1,016          294
   Capitalized lease obligation                                    --          130          135
   ESOP loan interest expense                                      13           17           28
   Interest expense of guaranteed preferred beneficial
     interest in Corporation's subordinated debentures            505          288           --
                                                              -------      -------      -------
   Total Interest Expense                                       7,033        6,533        8,015
                                                              -------      -------      -------
   Net Interest Income                                          9,387        8,423        7,519
Provision for credit losses (Note 5)                              275          755          475
                                                              -------      -------      -------
   Net Interest Income after Provision for Credit Losses        9,112        7,668        7,044

Noninterest Income

   Deposit service charges                                        235          213          258
   Net realized security gain                                     417          262          285
   Mortgage banking income                                      7,378        4,847          918
   Other income                                                   385          189          314
                                                              -------      -------      -------
   Total Noninterest Income                                     8,415        5,511        1,775

Noninterest Expense

   Salaries, benefits and payroll taxes (Note 14)               9,418        6,447        3,217
   Net occupancy expense                                        1,268        1,155          869
   Other operating expense (Note 15)                            3,896        2,939        2,275
                                                              -------      -------      -------
   Total Noninterest Expense                                   14,582       10,541        6,361
                                                              -------      -------      -------
Income Before Taxes                                             2,945        2,638        2,458
   Provision for Income Tax Expense (Note 16)                     840          828          832
                                                              -------      -------      -------
Net Income                                                    $ 2,105      $ 1,810      $ 1,626
                                                              =======      =======      =======
</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,
                       -------------------------------
                          2003      2002        2001
                          ----      ----        ----
                    (in thousands, except per share data)
<S>                    <C>        <C>        <C>
Per share data:
 Basic earnings        $   0.79   $   0.69   $   0.62

 Diluted earnings      $   0.78   $   0.68   $   0.62
                       ========   ========   ========
 Cash Dividends        $   0.20   $   0.15   $     --
                       ========   ========   ========
</TABLE>

                                       4
<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

<TABLE>
<CAPTION>
                                                                                    Year Ended December 31,
                                                                              ----------------------------------
                                                                                2003          2002         2001
                                                                                         (in thousands)
<S>                                                                           <C>           <C>          <C>
Net Income as Reported                                                        $ 2,105       $ 1,810      $ 1,626
Other Comprehensive Income
   Change in unrealized net (loss) gain on securities
     available for sale, net of tax of ($228) in 2003,
     $94 in 2002, and $47 in 2001                                                (440)          183           91
                                                                              -------       -------      -------
Comprehensive Income                                                          $ 1,665       $ 1,993      $ 1,717
                                                                              =======       =======      =======
</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, 2001         $ 13,309       $  5,016       $    742       ($   421)      $     71       $ 18,717
Net income for 2001                   --             --          1,626             --             --          1,626
Release of ESOP shares                --             (7)            --             50             --             43
Other comprehensive income            --             --             --             --             91             91
                                --------       --------       --------       --------       --------       --------
Balance December 31, 2001       $ 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
                                ========       ========       ========       ========       ========       ========
</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,
                                                                            --------------------------------------
                                                                              2003           2002           2001
                                                                              ----           ----           ----
                                                                                        (in thousands)
<S>                                                                         <C>            <C>            <C>
Operating Activities
   Net income                                                               $  2,105       $  1,810       $  1,626
   Adjustments to reconcile net income to net
       cash flow from operating activities:
     Net accretion of security discount                                          786            460            115
     Net gain on calls of securities                                            (417)          (262)          (285)
     Provision for credit losses                                                 275            755            475
     Depreciation expense                                                        404            429            367
     Loss on disposal of property and equipment                                   --             12             --
     Deferred income tax benefit                                                  --             --           (232)
     ESOP compensation expense                                                    71             53             43
     Decrease (increase) in accrued interest receivable                           59            (22)            (1)
     Decrease (increase) in other assets                                          53         (1,004)           143
     (Decrease) increase in accrued interest payable                             (17)            45           (552)
     Increase in other liabilities                                               131            447            181
     Decrease (increase) in loans held for sale                                4,004         (6,235)        (5,010)
     Increase in other real estate                                               (43)          (320)            --
                                                                            --------       --------       --------
   Net Cash Used In Operating Activities                                       7,411         (3,832)        (3,130)
Investing Activities
   Net cash acquired from the purchase and assumption of NOCB                  4,261             --             --
   Maturities, calls, and prepayments of securities available for sale        89,007         53,541         31,959
   Purchases of securities available for sale                                (89,979)       (66,334)       (57,471)
   Maturities, calls, and prepayments of held to maturity securities             892            592            481
   Purchases of held to maturity securities                                   (1,329)        (2,019)          (429)
   (Increase) decrease in loans                                              (49,289)       (50,146)         1,853
   Purchases of property and equipment                                        (2,264)          (558)          (271)
   Proceeds from sale of property and equipment                                   --              7             --
   Purchase of Bank Owned Life Insurance                                      (7,000)            --             --
                                                                            --------       --------       --------
   Net Cash Used in Investing Activities                                     (55,701)       (64,917)       (23,878)
Financing Activities
   Net (decrease) increase in demand and savings deposits                       (148)        15,187          5,706
   Net increase (decrease) in time deposits                                   31,552         (6,782)           469
   Net increase in short term borrowings                                       4,830          1,267          2,582
   Guaranteed preferred beneficial interest in Corporation's
     subordinated debentures                                                      --         10,000             --
   Net increase in FHLB advances                                               9,986         30,988         13,400
   Repayment of capitalized lease obligation                                    (951)          (172)           (19)
   Payment of ESOP debt                                                          (50)           (50)           (50)
   Stock options exercised                                                       630             68             --
   Cash dividends paid                                                          (541)          (401)            --
   Repurchase of stock                                                          (196)           (43)            --
                                                                            --------       --------       --------
   Net Cash Provided by Financing Activities                                  45,112         50,062         22,088
   Decrease in Cash and Cash Equivalents                                      (3,178)       (18,687)        (4,920)
   Cash and Cash Equivalents at the Beginning
     of the Period                                                             9,405         28,092         33,012
                                                                            --------       --------       --------
   Cash and Cash Equivalents at the End of the Period                       $  6,227       $  9,405       $ 28,092
                                                                            ========       ========       ========
Supplemental Disclosure of Cash Flow Information
   Interest paid                                                            $  7,005       $  6,488       $  8,567
   Federal Taxes Paid                                                       $  1,026       $  1,035       $    935
                                                                            ========       ========       ========
</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, 2003 and 2002

(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"), Community Central Capital Trust I 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). The Bank operates a Loan Center in
Port Huron, Michigan, serving small to medium-sized businesses in the St. Clair
County area, and owns a mortgage subsidiary, Community Central Mortgage Company,
LLC with locations in Mount Clemens, Warren, Dearborn, Livonia and Anchorville.
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.

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 intangible asset 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, 2003, the goodwill intangible asset of $743,000 had no
impairment.

CORE DEPOSIT INTANGIBLE: Core deposit intangible of $248,000 as of December 31,
2003 consists of core deposits intangible assets arising from an acquisition.
The asset was measured at fair value and is being amortized on an accelerated
method over its estimated useful lives. Amortization expense of approximately
$20,000 was recognized in the fourth quarter of 2003. 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,
                                -----------------------
                               2003       2002       2001
                              -----      -----      -----
                                (in thousands of shares)
<S>                           <C>        <C>        <C>
Basic                         2,663      2,622      2,610
Effect of stock options          48         26          3
                              -----      -----      -----
Diluted                       2,711      2,648      2,613
                              =====      =====      =====
</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, 2003, 2002 and 2001 consists solely of
unrealized gain and losses on available for sale securities, net of tax.

RECENT ACCOUNTING PRONOUNCEMENTS: In June 2002, the FASB issued SFAS No. 146,
"Accounting for Costs Associated with Exit or Disposal Activities." This
Statement addresses financial accounting and reporting for costs associated with
exit or disposal activities and nullifies Emerging Issues Task Force (EITF)
Issue No. 94-3, "Liability Recognition for Certain Employee Termination Benefits
and Other Costs to Exit an Activity (including Certain Costs Incurred in a
Restructuring)." This Statement requires recognition of a liability for a cost
associated with an exit or disposal activity when the liability is incurred, as
opposed to being recognized at the date an entity commits to an exit plan under
EITF No. 94-3. This Statement also establishes that fair value is the objective
for initial measurement of the liability. This Statement was effective for exit
or disposal activities initiated after December 31, 2002. Adoption of this
Standard did not have a material effect on the Corporation's Condensed
Consolidated Financial Statements.

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 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>
COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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) are 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. The Corporation will adopt this standard in the
first quarter of 2004, as it will not have a material 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, 2003, 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, 2003
                                           ----------------------------------------------
                                           Amortized          Unrealized             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
                                            -----------------------------------------------
                                            Amortized          Unrealized             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>


                                       12
<PAGE>
<TABLE>
<CAPTION>
                                                           December 31, 2001
                                            -----------------------------------------------
                                            Amortized          Unrealized             Fair
                                               Cost        Gains        Losses        Value
                                               ----        -----        ------        -----
                                                            (in thousands)
<S>                                         <C>           <C>          <C>           <C>
Securities Available for Sale
  United States Government agencies          $22,089      $   111      $   (29)      $22,171
  Mortgage backed securities                   2,440           33           (2)        2,471
  Collateralized mortgage obligations         13,874          176          (17)       14,033
  Municipal securities                         5,678           26          (51)        5,653
                                             -------      -------      -------       -------
    Total Securities Available for Sale       44,081          346          (99)       44,328
                                             -------      -------      -------       -------

Held to Maturity Securities

  Mortgage backed securities                   1,207           26           --         1,233
                                             -------      -------      -------       -------
    Total Held to Maturity Securities          1,207           26           --         1,233
                                             -------      -------      -------       -------
    Total Securities                         $45,288      $   372      $   (99)      $45,561
                                             =======      =======      =======       =======
</TABLE>


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

Maturity distribution of the investment portfolio as of December 31, 2003, 2002
and 2001 with weighted average yields to maturity.

<TABLE>
<CAPTION>
                                                 2003                          2002                          2001
                                     ---------------------------   ---------------------------   ---------------------------
                                     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                      10,251    10,217     3.35%     6,045     6,066     2.88%     8,602     8,591     2.71%
Over 1 year through five years         8,547     8,472     2.99%     6,663     6,782     3.70%    11,490    11,563     4.95%
Over 5 years through 10 years          2,999     3,003     4.35%     2,997     3,045     5.07%     1,997     2,017     5.85%
Over ten years                            --        --                  --        --                  --        --
                                      ------    ------     -----     -----     -----     -----     -----     -----     -----
                                      21,797    21,692     3.35%    15,705    15,893     3.65%    22,089    22,171     4.16%

State and political subdivisions *

One year or less                       1,110     1,121     5.68%     2,690     2,689     4.64%       610       617     4.55%
Over 1 year through five years         2,728     2,734     4.52%     2,834     2,865     5.13%     2,924     2,902     5.12%
Over 5 years through 10 years          7,828     7,809     5.34%     5,113     5,164     5.77%     1,925     1,917     6.06%
Over ten years                            --        --                 244       248     5.66%       219       217     6.38%
                                      ------    ------     -----     -----     -----     -----     -----     -----     -----
                                      11,666    11,664     5.18%    10,881    10,966     5.32%     5,678     5,653     5.42%

U.S. government mortgage-backed
  and collateralized mortgage
  obligations                         24,211    24,231     3.97%    31,380    31,692     4.45%    17,521    17,737     5.52%
                                      ------    ------     -----     -----     -----     -----     -----     -----     -----
Mutual Fund (CRA Qualified)              500       496     2.66%        --        --                  --        --
                                      ------    ------     -----     -----     -----     -----     -----     -----     -----
Memo:
Total variable rate securities
  Included above                      11,065    10,977               7,632     7,699               3,140     3,129
</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 $35,643,000 were pledged at December 31, 2003 to secure
short term repurchase agreements and partially secure Federal Home Loan Bank
advances.


                                       14
<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 $6,099,000 and $5,136,000
at December 31, 2003 and 2002, respectively. The total unused commitments
related to these loans were $4,542,000 at December 31, 2003. During 2003, new
loans and advances were $1,080,000, while repayments totalled $117,000.

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 $73,679,000 in
outstanding loans at December 31, 2003, 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 and the dates
indicated before deductions for loans in process, deferred loan fees and
discounts and allowance for credit losses.

<TABLE>
<CAPTION>
                                    2003        2002        2001        2000        1999
                                  --------    --------    --------    --------    --------
                                                       (in thousands)
<S>                               <C>         <C>         <C>         <C>         <C>
Commercial real estate            $149,769    $122,917    $104,460    $104,530    $ 86,832
Commercial and industrial           39,330      29,127      23,714      17,423      18,742
Residential real estate 60,046      41,373      17,497      24,021      25,676
Home equity lines                   11,217       4,949       3,703       4,400       4,244
Consumer loans                       9,844       5,161       4,324       5,366       5,352
Credit cards                           622         522         513         523         466

Total loans                        270,828     204,049     154,211     156,263     141,312
</TABLE>

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.


                                       15
<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, 2003. 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.

<TABLE>
<CAPTION>
Commercial and industrial loans due
  during the years ending December 31,
                                            (in thousands)
<S>                                         <C>
      2004                                     $19,966
      2005 to 2008                              16,479
      2009 and thereafter                        2,885
                                               -------
      Total loans                              $39,330
                                               =======
</TABLE>

The total amount of commercial and industrial loans due after December 31, 2004
which have fixed interest rates is $11.2 million, while the total amount of
these loans due after such date which have floating or adjustable interest rates
is $8.2 million. Some of these loans may have floor interest rate levels which
are reported as fixed interest rate loans.

<TABLE>
<CAPTION>
Real estate construction loans due
  during the years ending December 31,

                                            (in thousands)
<S>                                         <C>
      2004                                      $9,555
      2005 to 2008                               3,717
      2009 and thereafter                           --
                                               -------
      Total loans                              $13,272
                                               =======
</TABLE>

The total amount of construction loans due after December 31, 2004 which have
fixed interest rates is $3.7 million, with no 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.


                                       16
<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>
                                             2003       2002       2001       2000       1999
                                            ------     ------     ------     ------     ------
                                                              (in thousands)
<S>                                         <C>        <C>        <C>        <C>        <C>
Balance at beginning of the period          $3,377     $2,930     $2,654     $1,927     $1,330
Charge-offs:
Commercial real estate                          --        193         --         --         --
Commercial and industrial                       38        190        184         96        216
Residential real estate                         18         --         --         --         41
Home equity lines                               --         --         --         --         --
Consumer loans                                  64         57         65         48         14
Credit cards                                     3         28         12         12          1
                                            ------     ------     ------     ------     ------
   Total charge-offs                           123        468        261        156        272
                                            ------     ------     ------     ------     ------

Recoveries:
Commercial real estate                          --         --         --         --         --
Commercial and industrial                       19        114         42         15         18
Residential real estate                         --         31         --         --         --
Home equity lines                               --         --         --         --         --
Consumer loans                                  24         14         17         13         --
Credit cards                                     1          1          3         --         --
                                            ------     ------     ------     ------     ------
   Total recoveries                             44        160         62         28         18
                                            ------     ------     ------     ------     ------
Net charge-offs                                 79        308        199        128        254
                                            ------     ------     ------     ------     ------
Provision charged to earnings                  275        755        475        855        851
                                            ------     ------     ------     ------     ------
Balance at the end of the period            $3,573     $3,377     $2,930     $2,654     $1,927
                                            ======     ======     ======     ======     ======

As a percentage of total portfolio loans      1.32%      1.65%      1.90%      1.70%      1.36%

Ratio of net charge-offs during the
  period to average loans during
  the period                                  0.03%      0.18%      0.13%      0.08%      0.21%
</TABLE>

The loan portfolio has been reviewed and analyzed for the purpose of estimating
probable credit losses. Management believes that the allowance for credit losses
at December 31, 2003 is adequate to absorb probable credit losses inherent in
the loan portfolio. The Corporation's policy dictates that specifically
identified credit losses be recognized immediately by a charge to the allowance
for credit losses. This determination is made for each loan at the time of
transfer into impaired status after giving consideration to collateral value and
the borrowers' ability to repay the loan principal. Since management immediately
recognizes losses on its impaired loans, it has not become necessary to
separately record a valuation allowance on these assets. Because the ultimate
collection of interest on impaired loans is in doubt, any interest income
recognized on these loans is generally limited to cash collection of interest.

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 mortgages and consumer
loans) are considered impaired. The Corporation had $847,000 in loans and other
real estate owned classified as nonperforming at December 31, 2003 and
$1,165,000 at December 31, 2002.


                                       17
<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, 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%

December 31, 1999          $    1,104     $      304     $       56    $       13    $     86     $    30     $      334     $ 1,927
  % of loans in category         61.4%          13.3%          18.2%          3.0%        3.8%        0.3%         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, 2003, the legal lending limit was
approximately $3.7 million; however, that limit can be expanded (for individual
loans) to approximately $6.2 million with 2/3 approval of the Board of
Directors.


                                       18
<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 that of market rates.

<TABLE>
<CAPTION>

                                                      December 31,
                                     2003       2002       2001       2000       1999
                                   ------     ------     ------     ------     ------
                                                     (in thousands)
<S>                                <C>        <C>        <C>        <C>        <C>
Nonaccrual loans
  Commercial real estate           $  277     $  419     $2,383     $   --     $   --
  Commercial and industrial            88          8         23        488         15
  Residential real estate              --        311        166        174        453
  Home equity lines                    --        101         --         --         --
  Consumer loans                       --         --         --         --         --
  Credit cards                         --         --         --         --         --
                                   ------     ------     ------     ------     ------
Total                                 365        839      2,572        662        468

Accruing loans delinquent more
  than 90 days
  Commercial real estate           $   --     $   --     $   --     $   --     $   --
  Commercial and industrial            --         --         --         --         --
  Residential real estate             116         --         --         56        128
  Home equity lines                    --         --         --         --         34
  Consumer loans                        1         --          4         96         11
  Credit cards                          2          6          6         --          5
                                   ------     ------     ------     ------     ------
Total                                 119          6         10        152        178

Other real estate owned
  Commercial real estate              363        320         --         --         --
                                   ------     ------     ------     ------     ------
Total                                 363        320         --         --         --
                                   ------     ------     ------     ------     ------
Total nonperforming assets         $  847     $1,165     $2,582     $  814     $  646
                                   ======     ======     ======     ======     ======

Total nonperforming loans as a
  percentage of total loans          0.18%      0.41%      1.67%      0.52%      0.46%

Total nonperforming assets as a
  percentage of total assets         0.24%      0.41%      1.10%      0.38%      0.35%
</TABLE>

The Corporation did not recognize any interest income in 2003 on those loans
classified as nonaccruing for the period ended December 31, 2003. 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 $20,000.

<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>
                                                             2003        2002
                                                             ----        ----
                                                               (in thousands)

<S>                                                          <C>        <C>
           Land                                              $1,340     $   --
           Buildings and improvements                         1,576         --
           Building (under capital lease)                        --      1,000
           Leasehold improvements                               269      1,192
           Furniture and equipment                            2,303      1,930
           Vehicles                                              51         28
                                                             ------     ------
                                                              5,539      4,150
           Less accumulated depreciation and amortization     1,562      2,264
                                                             ------     ------
           Net property and equipment                        $3,977     $1,886
                                                             ======     ======
</TABLE>

(7) TIME DEPOSITS

As of December 31, 2003, scheduled maturities of all time deposits are as
follows:

<TABLE>
<CAPTION>
           Year ending December 31,                       (in thousands)
<S>                                                       <C>
           2004                                            $123,369
           2005                                              38,695
           2006                                               2,649
           2007                                               3,119
           2008                                               3,589
           Subsequent years                                   2,248
                                                           --------
           Total time deposits                             $173,669
                                                           ========
</TABLE>

The following table depicts the maturity distribution of certificates of deposit
with balances of $100,000 or more at December 31, 2003.

<TABLE>
<S>                                                 <C>
           Three months or less                     $ 58,305
           Three months to six months                 10,860
           Six months to twelve months                18,102
           One year to three years                    23,277
           Over three years                            5,441
                                                    --------
           Total time deposits                      $115,985
                                                    ========
</TABLE>

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

(8) SHORT TERM BORROWINGS

Short term borrowings at December 31, 2003, consisted of short term FHLB
advances of $19.0 million and securities sold with an agreement to repurchase of
$12.8 million. Repurchase agreements generally mature within one day. Following
are details of short term borrowings for the dates or periods indicated:

<TABLE>
<CAPTION>
                                                           2003           2002         2001
                                                           ----           ----         ----
                                                                 (dollars in thousands)
<S>                                                      <C>           <C>           <C>
     Amount outstanding at end of year                   $31,836       $19,006       $ 7,739
     Weighted average interest rate on ending balance       1.39%         2.21%         1.93%

     Maximum amount outstanding at any month end
       during the year                                   $38,106       $21,932       $ 9,160

     Average amount outstanding during the year          $27,797       $17,938       $ 6,530
     Weighted average interest rate                         1.24%         2.40%         2.87%
</TABLE>

(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 minimize 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.

FHLB advances outstanding were as follows:

<TABLE>
<CAPTION>
                                         December 31, 2003            December 31, 2002
                                         -----------------            -----------------
                                   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      $19,000          1.82%          $11,000        2.91%
     Long-term FHLB advances        35,374          3.99%           33,388        4.26%
                                   -------          ----           -------        ----
                                   $54,374          3.23%          $44,388        3.92%
</TABLE>

Long-term advances were comprised of 22 advances with maturities ranging from
May 2005 to December 2012.

The principal maturities of long-term advances outstanding at December 31, 2003
are as follows:

<TABLE>
<CAPTION>
           Year ending December 31,             (in thousands)
<S>                                             <C>
           2005                                      6,000
           2006                                      3,000
           2007                                      6,000
           2008                                      4,874
           Subsequent years                         15,500
                                                  --------
           Total                                   $35,374
                                                  ========
</TABLE>

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

(10) LEASES

On January 3, 2003, the Bank purchased the main office building of the
Corporation and Bank and adjacent property known as 120 North Main Street from
T.A.P. Properties, LLC for $2,600,000. The main office building had been
previously leased from T.A.P. Properties, which is owned by two directors;
Gebran Anton and Dean Petitpren. The adjacent property was purchased for further
expansion of the corporate and banking operations. The transaction was approved
by the Board of Directors of the Corporation and Bank. Additionally, the
appropriate regulatory agencies were also advised of the transaction in advance.
Management believes the transaction to be strategically beneficial and provides
future cost savings to the Corporation. The carrying amount of the capital lease
obligation at the time of the transaction was $951,000. The amount paid in
excess of this amount was added to the carrying amount of the property.

Operating expense includes rentals on a leased facility and certain equipment in
the amount of $421,000 for 2003 and $345,000 for 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, 2003:

<TABLE>
           Year ending December 31,                (in thousands)
<S>                                                <C>
           2004                                          251
           2005                                          238
           2006                                           50
           2007                                           50
           2008                                           50
           Subsequent years                              331
                                                    --------
           Total minimum rental payments                $970
                                                    ========
</TABLE>

(11) 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 4.00% at December 31, 2003. The
Corporation has guaranteed the loan, with the ESOP stock is 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.

As of December 31, 2003, scheduled maturities of the ESOP note payable are as
follows:

<TABLE>
<CAPTION>
                         (in thousands)
<S>                      <C>
2004                            50
2005                            50
2006                            50
2007                            50
2008                            50
Subsequent years                21
                             -----
                              $271
                             =====
</TABLE>

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

(12) GUARANTEED PREFERRED BENEFICIAL INTEREST IN THE CORPORATION'S 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 trust preferred securities qualify for up to 25% of Tier I Capital. Any
amount in excess of this limit may be included in Tier 2 Capital.

(13) 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,
2003, that the Corporation and the Bank meet all capital adequacy requirements
to which they are subject. As of December 31, 2003, 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.

                                       23
<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>
                                                2003                    2002              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                        30,505     11.27%       $29,067    14.06%            4%                   NA
      Bank only                           29,427     10.89%        28,313    13.72%            4%                   6%

Total capital to risk-weighted assets
      Consolidated                        36,266     13.39%        34,394    16.64%            8%                   NA
      Bank only                           32,808     12.14%        30,903    14.97%            8%                  10%

Tier I capital to average assets
      Consolidated                        30,505      8.56%        29,067    10.40%            4%                   NA
      Bank only                           29,427      8.27%        28,313    10.14%            4%                   5%
</TABLE>

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

(14) 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 $84,000, $55,000 and $36,000 were paid or accrued for the
periods ended December 31, 2003, 2002 and 2001.

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, 2003, the plan had acquired a total of
64,422 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 is 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 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 $71,000 for
2003. As of December 31, 2003, 29,928 shares were committed-to-be released, with
34,494 remaining unearned. The value of unearned shares as of December 31, 2003,
was $483,000.

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>
                                               2003          2002        2001
                                               ----          ----        ----
                                                       (in thousands)
<S>                                            <C>           <C>         <C>
    Amounts paid by ESOP for:
            Debt repayment                      $50           $50         $50
            Interest                            $13           $17         $28
            Other                               $15           $17         $10

  Amounts received from the Corporation as:
            Contributions                       $78           $84         $88
</TABLE>

                                       25
<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, 2003.

<TABLE>
<CAPTION>
                                                            2003
                                                            ----
                                                      (in thousands)
<S>                                                   <C>
Plan assets at fair value                                     $--
Benefit obligation                                             85
                                                          -------
Overfunded (underfunded) status                               $85
                                                          =======
Pension liability                                              85
                                                          -------
Net pension costs                                             $85
                                                          -------
Change in minimum liability                                   $85
                                                          =======
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, 2003,
the cash surrender value of all bank owned life insurance policies on the
participants amounted to $7,222,000. There were no supplemental retirement
benefits paid by the plan during 2003.

STOCK OPTION PLANS - The Corporation has four stock-based compensation plans.
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 471 shares 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. In 2003, 1,100
stock options were granted to a new director under this plan. As of December 31,
2003, no further shares are available under the provisions of the plan. Under
the 2002 Incentive Plan awards can be made up to a maximum of 130,000 shares of
common stock. Under the plan up to 40,000 shares are available for directors and
90,000 for employees. In 2003, 28,000 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 and 100 shares of
common stock were awarded to nine employees for a total of 900 shares. 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 plans, the option's maximum term is seven years. In 2003, the 1996
Stock Option Plan for Nonemployee Directors expired. All available options under
this plan were exercised in advance of the termination.

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

The Corporation has estimated the fair value of the options issued in 2003
ranging from $1.74 to $2.48 per share (weighted average $2.40 per share).
Options issued in 2002 and 2001 had an estimated fair value of $2.39 and $3.29
per share, respectively. The Corporation estimated the fair value of options
using the Black-Scholes option pricing model. The Corporation issued incentive
options for 28,000 and 1,100 shares of nonqualifying stock options during 2003.
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,
                                                  2003           2002            2001
                                                  ----           ----            ----
                                                   (in thousands, except per share data)
<S>                                             <C>          <C>             <C>
Net income, as reported                         $2,105       $   1,810       $   1,626
Deduct: Total stock-based employee
        and director compensation expense
        under fair value based methods of
        awards, net of related tax effects        (128)           (148)            (49)
                                                ------       ---------       ---------
      Pro forma net income                      $1,977       $   1,662       $   1,577
                                                ======       =========       =========

Earnings per share
      Basic - as reported                       $ 0.79       $    0.69       $    0.62
      Basic - pro forma                         $ 0.74       $    0.63       $    0.60

      Diluted - as reported                     $ 0.78       $    0.68       $    0.62
      Diluted - pro forma                       $ 0.73       $    0.63       $    0.60
</TABLE>

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

<TABLE>
<CAPTION>
                                                 Year Ended December 31,
                                            2003           2002          2001
                                            ----           ----          ----
<S>                                       <C>             <C>           <C>
Dividend yield or expected dividends         1.81%          2.03%          --
Riskfree interest rate                       4.30%          4.00%        5.00%
Expected life                              7 - 10 yrs.     10 yrs.      10 yrs.
Expected volatility                          9.60%         21.92%       34.38%
</TABLE>

                                       27
<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,
                                                 2003                            2002                             2001
                                                 ----                            ----                             ----
                                                     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      211,511           $7.13         175,131           $6.80             150,888         $7.27
Granted                                29,100           11.43          52,500            8.50              59,300          5.91
Exercised                             (71,500)           7.16          (5,856)           6.83                  --            --
Forfeited                              (1,500)           6.00         (10,264)           8.73             (35,057)         6.98
                                      -------           -----         -------           -----             -------         -----
Outstanding, end of year              167,611           $7.87         211,511           $7.13             175,131         $6.80
                                      =======           =====         =======           =====             =======         =====
</TABLE>


The following table shows summary information about stock options outstanding at
December 31, 2003:

<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>
 7.16 - 8.64           23,100        2.4 years               8.36         23,100               8.36
      8.52              1,210        5.1 years               8.52          1,210               8.52
      5.23              3,730        6.0 years               5.23          3,730               5.23
     10.29              1,100        6.3 years              10.29          1,100              10.29
      5.79             64,471        7.3 years               5.79         49,702               5.79
      8.50             46,000        8.4 years               8.50         46,000               8.50
10.07 -11.94           28,000        9.8 years              11.47          8,933              11.94
                      -------                               -----        -------              -----
                      167,611                               $7.87        133,775              $7.62
                      =======                               =====        =======              =====
</TABLE>

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

(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,
                                           -----------------------
                                        2003        2002         2001
                                        ----        ----         ----
                                               (in thousands)
<S>                                   <C>         <C>         <C>
Advertising and public relations      $  867      $  428      $  292
Data processing                          601         516         403
Professional and regulatory fees         463         298         165
Legal fees                               283         289         209
Director fees                            291         179         176
Credit card processing                    32          45         228
Printing and supplies                    203         146         117
Telephone                                195         138          93
Loan closing                             120          90          27
Other insurance                          100          75          51
Deposit insurance                         43          46          58
Single business tax                      168         109          99
Other                                    530         580         357
                                      ------      ------      ------
  Total other operating expense       $3,896      $2,939      $2,275
                                      ======      ======      ======
</TABLE>

                                       29
<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 bases and the tax bases of the Corporation's assets and
liabilities. The income tax expense (benefit) for the years ending December 31,
consists of the following:

<TABLE>
<CAPTION>
                                 2003          2002         2001
                                 ----          ----         ----
                                           (in thousands)
<S>                             <C>          <C>          <C>
Current expense                 $   840      $   828      $ 1,064
Deferred (benefit) expense           --           --         (232)
                                -------      -------      -------
Total income expense            $   840      $   828      $   832
                                =======      =======      =======
</TABLE>

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

<TABLE>
<CAPTION>
                                                              2003           2002
                                                              ----           ----
                                                                 (in thousands)
<S>                                                         <C>           <C>
Deferred tax assets
      Provision for loan losses                             $ 1,146       $ 1,108
      Depreciation                                              202            32
      Capital lease                                              --           180
      Other                                                      35            10
      Unrealized gain on securities available for sale           50            --
      Deferred loan costs                                         6            --
                                                            -------       -------
                                                              1,439         1,330

      Valuation allowance for deferred tax assets                --            --

Deferred tax liabilities
      Original issue discount                                  (133)          (37)
      Unrealized gain on securities available for sale           --          (178)
      Mortgage servicing rights                                  --            (6)
      Accretion                                                 (14)          (41)
      Deferred loan fees                                         --           (50)
      FHLB dividends                                            (33)           --
      Other                                                     (54)          (41)
                                                            -------       -------
                                                               (234)         (353)
                                                            -------       -------
Net deferred tax asset                                      $ 1,205       $   977
                                                            =======       =======
</TABLE>

                                       30
<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,
                                                         -----------------------
                                                     2003           2002        2001
                                                     ----           ----        ----
                                                              (in thousands)
<S>                                                  <C>         <C>          <C>
Provision at statutory federal income tax rate       1,001          897          836
Nondeductible expenditures                              46           25           16
Tax exempt municipal interest                         (136)        (113)         (43)
Increase in cash surrender value of bank owned
   life insurance                                      (76)          --           --
Other, net                                               5           19           23
                                                    ------       ------       ------
Provision at effective federal income tax rate         840          828          832
                                                    ======       ======       ======
</TABLE>

                                       31
<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: For marketable debt securities, estimated fair value is based on
quoted market prices or dealer quotes.

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.

GUARANTEED PREFERRED BENEFICIAL INTEREST IN THE CORPORATION'S SUBORDINATED
DEBENTURES: Guaranteed preferred beneficial interest in the Corporation's
subordinated debentures is 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.

                                       32
<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>
                                                                  2003                      2002
                                                                  ----                      ----
                                                       Carrying       Estimated    Carrying      Estimated
                                                         Amount      Fair Value      Amount     Fair Value
                                                         ------      ----------      ------     ----------
                                                                             (in thousands)
<S>                                                    <C>           <C>          <C>           <C>
Financial Assets
   Cash and cash equivalents                            $  6,227      $  6,227      $  9,405      $  9,405
   Securities                                             58,030        58,083        58,490        58,551
   FHLB stock                                              3,103         3,103         2,219         2,219
   Residential mortgages held for sale                     7,241         7,241        11,245        11,245
   Loans, net of allowance                               267,255       273,511       200,672       208,042
   Accrued interest receivable                             1,305         1,305         1,270         1,270

Financial Liabilities
   Demand and savings deposits                            81,687        81,687        69,132        69,132
   Time deposits                                         173,669       174,791       131,587       134,147
   Repurchase agreements                                  12,836        12,836         8,006         8,006
   Federal Home Loan Bank advances                        54,374        55,756        44,388        46,272
   Accrued interest payable                                  511           511           483           483
   Guaranteed preferred beneficial interest
      in the Corporation's subordinated debentures        10,000        10,000        10,000        10,000
</TABLE>

                                       33
<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.

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>
                                                     2003           2002
                                                     ----           ----
                                                         (in thousands)

<S>                                                 <C>          <C>
Unused home equity lines of credit                  $ 5,648      $ 3,432
Unused credit card lines                              1,826        1,846
Unused portion of construction lines of credit       24,004       12,885
Unused portion of all other credit lines             39,531       37,610
Standby letters of credit                               986        2,018
                                                    -------      -------
Total outstanding commitments                       $71,995      $57,791
                                                    =======      =======
</TABLE>

(19) RESTRICTIONS ON DIVIDENDS

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, 2003, the Bank's retained earnings available for the
payment of dividends totaled $5.6 million. Accordingly, $5.6 million of the
Corporation's investment in the Bank was restricted at December 31, 2003.

                                       34
<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,
                                                         ---------------------------
                                                           2003               2002
                                                         --------           --------
Assets                                                         (in thousands)
<S>                                                      <C>                <C>
Cash                                                     $  2,984           $  3,167
Investment in subsidiary                                   30,634             28,970
Other assets                                                  577                466
                                                         --------           --------
   Total Assets                                          $ 34,195           $ 32,603
                                                         ========           ========
Liabilities and Stockholders' Equity
Due to subsidiary                                        $    109           $    146
Guaranteed preferred beneficial interest in the
   Corporation's subordinated debentures                   10,310             10,310
                                                         --------           --------
   Total Liabilities                                       10,419             10,456
Common stock                                               13,609             13,329
Additional paid-in capital                                  5,308              5,035
Accumulated surplus                                         5,225              3,759
Unearned employee benefit                                    (271)              (321)
Accumulated other comprehensive income                        (95)               345
                                                         --------           --------
   Total Stockholders' Equity                              23,776             22,147
                                                         --------           --------
   Total Liabilities and Stockholders' Equity            $ 34,195           $ 32,603
                                                         ========           ========
</TABLE>


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

PARENT-ONLY STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>
                                                                            Year Ended December 31,
                                                                -------------------------------------------
                                                                  2003             2002              2001
                                                                -------           -------           -------
                                                                              (in thousands)
<S>                                                             <C>               <C>               <C>
Operating Income
   Interest income                                              $    61           $    57           $    34
                                                                -------           -------           -------
   Interest Income                                                   61                57                34
   Interest expense of guaranteed preferred beneficial
     interest in Corporation's subordinated debentures              520               296                --
                                                                -------           -------           -------
   Net Interest (Loss) Income                                      (459)             (239)               34
   Other expense                                                    580               413               253
                                                                -------           -------           -------
   Total Operating Expense                                          580               413               253
   Loss Before Taxes
     and Share in Undistributed
     Income of Subsidiary                                        (1,039)             (652)             (219)
Income tax benefit                                                 (353)             (221)              (75)
                                                                -------           -------           -------
   Loss Before Share
     in Undistributed Income of Subsidiary                         (686)             (431)             (144)
Dividend from subsidiary                                            920               645               300
Share of undistributed income of subsidiary                       1,871             1,596             1,470
                                                                -------           -------           -------
   Net Income                                                   $ 2,105           $ 1,810           $ 1,626
                                                                =======           =======           =======
</TABLE>


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

PARENT-ONLY STATEMENT OF CASH FLOW

<TABLE>
<CAPTION>
                                                                            Year Ended December 31,
                                                                --------------------------------------------
                                                                  2003              2002               2001
                                                                -------           --------           -------
                                                                               (in thousands)
<S>                                                             <C>            <C>                   <C>
Operating Activities
   Net income                                                   $ 2,105           $  1,810           $ 1,626
   Adjustments to reconcile net income to
       net cash flow from operating activities
     Undistributed income of subsidiary                          (1,871)            (1,596)           (1,470)
     Increase in other assets                                      (111)              (329)              (25)
     (Decrease) increase in other liabilities                       (37)                64                79
                                                                -------           --------           -------
   Net Cash (Used in) Provided by Operating Activities               86                (51)              210
Investing Activities
   Capital contribution to subsidiaries                            (162)            (7,632)             (519)
                                                                -------           --------           -------
   Net Cash Used in Investing Activities                           (162)            (7,632)             (519)
Financing Activities
   Fractional shares paid on stock split                             --                 --                --
   Stock options exercised/awards                                   630                 68                --
   Trust preferred securities                                        --             10,310                --
   Cash dividend paid                                              (541)              (401)               --
   Repurchase of  stock                                            (196)               (43)               --
                                                                -------           --------           -------
   Net Cash (Used in) Provided by Financing Activities             (107)             9,934                --
                                                                -------           --------           -------
(Decrease) Increase in Cash                                        (183)             2,251              (309)
Cash at the Beginning of the Period                               3,167                916             1,225
                                                                -------           --------           -------
Cash at the End of the Period                                   $ 2,984           $  3,167           $   916
                                                                =======           ========           =======
</TABLE>


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

(21) PURCHASE AND ASSUMPTION OF NORTH OAKLAND COMMUNITY BANK

On October 17, 2003, Community Central Bank Corporation purchased substantially
all of the assets and assumed substantially all of the liabilities of North
Oakland Community Bank ("NOCB"). NOCB was a one branch commercial bank located
in Rochester Hills, Michigan. NOCB was one of two banks owned by Michigan
Community Bancorp, Limited. Assets of $23.3 million were purchased, which
included discounted loans of $17.6 million. Total liabilities assumed were $23.2
million in deposits and $45,000 in accrued interest payable on deposits. The
premium paid on the transaction was $1,011,000 and was allocated to goodwill and
core deposit intangible assets. The core deposit intangible is being amortized
on an accelerated basis through 2008. The Corporation goodwill will be tested
for impairment annually. The Corporation expects to further their customer and
balance sheet growth in the neighboring Oakland County, Michigan market. The
Corporation had identified this geographic market prior to the acquisition, as
part of the overall corporate strategic plan. The Corporation expects that known
possible customer relationships in this geographic area and the proximity of
full service banking available to these customers will provide growth in this
new branch location. The Corporation also expects the business model used to
develop the main office location in Macomb County will also aid in providing
growth in loans and deposits in the Rochester location and add to the overall
net income for the Corporation.

The assets purchased and the liabilities assumed are as follows: The purchase
price was allocated for assets purchased and liabilities assumed based on
information available at the date of acquisition, October 17, 2003 as indicated
in the Purchase and Assumption Agreement dated July 9, 2003.

<TABLE>
<CAPTION>
                                                    (in thousands)
<S>                                                 <C>
Assets
         Vault Cash and Cash and Due                   $ 4,261
         FHLB Stock                                         52
         Loans purchased at discount                    17,569
         Furniture and equipment                           231
         Other assets                                      154
                                                       -------
         Total assets purchased                        $22,267
                                                       -------
Liabilities
         Deposit liabilities                           $23,233
         Accrued interest payable on deposits               45
                                                       -------
         Total liabilities assumed                     $23,278
                                                       -------
Net Assets                                             $ 1,011
                                                       =======
</TABLE>


                                       38
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
BUSINESS SUMMARY

Community Central Bank Corporation is the holding company for Community Central
Bank in Mount Clemens, Michigan. The Corporation and Bank 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 Mount
Clemens, Warren, Dearborn, Livonia and Anchorville. The ownership of the
Mortgage Company consists of two members, the Bank and the Corporation owning
99% and 1% of the Mortgage Company, respectively.

On October 17, 2003, Community Central Bank Corporation purchased substantially
all of the assets and assumed substantially all of the liabilities of North
Oakland Community Bank ("NOCB"). NOCB was a one branch commercial bank located
in Rochester Hills, Michigan. NOCB was one of two banks owned by Michigan
Community Bancorp, Limited. The Corporation expects to further their customer
and balance sheet growth in the neighboring Oakland County, Michigan market. The
Corporation had identified this geographic market prior to the acquisition, as
part of the overall corporate strategic plan. The Corporation expects that known
possible customer relationships in this geographic area and the proximity of
full service banking available to these customers will provide growth in this
new branch location. The Corporation also expects the business model used to
develop the main office location in Macomb County will also aid in providing
growth in loans and deposits in the Rochester location and add to the overall
net income for the Corporation.

The Corporation's return on average asset was 0.65%, 0.70% and 0.74% for the
years ended December 31, 2003, 2002 and 2001, respectively. The return on
average equity was 9.20%, 8.49% and 8.23% for the year ended December 31, 2003,
2002 and 2001, respectively. The dividend payout ratio for 2003 and 2002 was
25.70% and 22.15%, respectively. Average equity to average assets was 7.06%,
8.26% and 9.05% for the years ended December 31, 2003, 2002 and 2001,
respectively.


                                       39
<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, 2003 to December 31, 2002 and the results of
operations for the years ended December 31, 2003 and 2002. 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; changes in the national and local economy; 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.

ASSETS

The Corporation's total assets have increased by 24.4%, or $70.3 million, to
$357.9 million at December 31, 2003, compared with $287.6 million at December
31, 2002.

Total portfolio loans outstanding were $270.8 million as of December 31, 2003.
This represented a growth of $66.8 million, or 32.7% over the year ended
December 31, 2002. The growth in loans was primarily comprised of commercial
real estate and residential mortgage loans which increased $26.8 million and
$18.7 million, respectively. Growth in the residential mortgage portfolio during
2003 was largely comprised of adjustable rate mortgages. Growth in loans was
partially attributable to the purchase and assumption of North Oakland Community
Bank which added $17.0 million in loans including $13.2 million in commercial
real estate loans. As of December 31, 2003, the Corporation had $39.3 million
classified as commercial business and industrial loans, or 14.5% of the
aggregate entire loan portfolio. The installment loan portfolio of the
Corporation consisting of consumer and credit card loans was $10.5 million as of
December 31, 2003 and increased $4.8 million, or 84.2% during 2003. The growth
in the installment loan portfolio during 2003 was primarily boat loans. The
installment loan portfolio comprises 3.9% of the entire aggregate loan
portfolio.

Residential mortgages held for sale were $7.2 million at the end of 2003. This
is a decrease of $4.0 million from the end of 2002. The decrease in residential
loans held for sale was largely attributable to the industry-wide slow down in
mortgage refinancing. Residential loans held for sale consist of residential
mortgage loans with maturities of 15 to 30 years. Such loans are recorded at the
lower of aggregate cost or estimated fair value and are held typically less than
two weeks in duration.

The Corporation's investment portfolio of $58.0 million, decreased slightly or
$460,000 in 2003 compared to the prior year, as more funds were deployed in
loans when compared to the previous year. The investment portfolio comprises
mainly federal agency debentures, mortgage backed investments, including
collateralized mortgage obligations and high quality, bank qualified tax exempt
municipal bonds.


                                       40
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS


The allowance for credit losses as a percentage of total loans was 1.32% as of
December 31, 2003. The provision for credit losses decreased to $275,000 during
2003 from $755,000 during 2002. The lower provision was primarily attributable
to lower net charge offs than in previous years, coupled with a favorable
disposition on certain watch credits and problem loans. Management conducts the
analysis on a quarterly basis. The analysis incorporates factors such as current
net charge offs, risk identifications, delinquency, historical losses, current
trends, concentration of credits, and national and economic conditions. Other
factors included in management's analysis include, experience, ability and depth
of lending management and staff and the loan review system. Gross loan
charge-offs for 2003 totaled $123,000, with recoveries totaling $44,000. Total
net charge-offs represented 0.03 percent of average portfolio loans.

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, 2003, there was $365,000 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 should be reported as nonaccrual. A nonaccrual asset may
be restored to an accrual status when none of its principal or interest is due
and unpaid, when it otherwise becomes well secured, or in the process of
collection.

A debt is "well-secured" if it is secured (1) by collateral in the form of liens
on or pledges of real or personal property, including securities, that have a
realizable value sufficient to discharge the debt (including accrued interest)
in full, or (2) by the guaranty of a financially responsible party. A debt is
"in the process of collection" if collection of a debt is proceeding in due
course either through legal action, including judgment enforcement procedures,
or, in appropriate circumstances, through collection efforts not involving legal
action which are reasonably expected to result in repayment of the debt or in
its restoration to a current status in the near future, generally within the
next 90 days.

In each accounting period, management evaluates the condition of the loan
portfolio to determine the adequacy of the allowance for loan losses.
Consideration is also given to off-balance sheet items that may involve credit
risk, such as commitments to extend credit and financial guarantees.
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 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, 2003, loans totaling $2,429,000 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.


                                       41
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

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 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

Total deposits increased $54.6 million, or 27.2%. The growth in deposits was
partially attributable to the purchase and assumption of North Oakland Community
Bank ("NOCB"), which added $22.0 million in deposits. Demand deposits of $33.8
million increased $1.6 million, or 4.9% in 2003. The growth was minimized by the
loss of one relationship totaling over $4 million in balances. NOW and money
market savings accounts of $41.5 million increased $9.9 million, or 31.4% due to
the aforementioned acquisition and the general favorable market conditions for
liquid money market products. Savings deposits of $6.4 million increased $1.1
million, or 19.8%, primarily from the acquisition of NOCB. The largest growth in
deposits was in certificates of deposits which increased $42.1 million, or
32.0%. The largest majority of growth occurred in certificates of deposit over
$100,000, increasing $38.3 million, from $77.7 million to $116.0 million. The
growth in certificates of deposit was aided by increases in local municipal
deposits and the use of brokered deposits and internet based certificates of
deposit. At December 31, 2003 the Corporation had $25.2 million in brokered
certificates of deposit and $21.5 million in internet certificates of deposit.
The Corporation has been utilizing Federal Home Loan Bank ("FHLB") advances to
better match against interest rate risk.

SHAREHOLDERS' EQUITY

Shareholders' equity was $23.8 million at December 31, 2003, a $1.6 million
increase from December 31, 2002. The increase resulted from net income of
$2,105,000, coupled with an equity increase attributable to stock option
exercises resulting in $630,000 additional capital. This increase was primarily
offset by cash dividend declarations and common stock repurchases of $541,000
and $196,000, respectively. The change in unrealized gains and losses on
securities resulted in a $440,000 decrease in stockholders' equity.


                                       42
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

NET INTEREST INCOME

The Corporation expects net interest income to be its principal source of future
income. During 2003 net interest income was $9.4 million. The Corporation's net
interest margin for the year was 3.10% on a fully taxable equivalent basis.

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, 2003 vs. 2002            December 31, 2002 vs. 2001
                                                      ---------------------------------      ---------------------------------
                                                                   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                                              $ 2,153      $ 3,675      ($1,522)     ($  349)     $ 1,860      ($2,209)
   Securities                                            (499)         174         (673)         465          853         (388)
   Federal funds sold                                    (190)         (89)        (101)        (694)        (117)        (577)
                                                      -------      -------      -------      -------      -------      -------
     Total                                              1,464        3,760       (2,296)        (578)       2,596       (3,174)
                                                      -------      -------      -------      -------      -------      -------
Deposits and Borrowed Funds - Interest Expense
   NOW and money market accounts                          129          158          (29)          67           77          (10)
   Savings deposits                                       (29)          (6)         (23)         (91)         (10)         (81)
   Time deposits                                         (461)         330         (791)      (2,420)         (31)      (2,389)
   Other borrowings                                       778          988         (210)         690          721          (31)
   Capitalized lease obligation and ESOP loan            (134)         (44)         (90)         (16)          (9)          (7)
   Guaranteed preferred interest in
     Corporation's subordinated debentures                217          245          (28)         288          288           --
                                                      -------      -------      -------      -------      -------      -------
     Total                                                500        1,671       (1,171)      (1,482)       1,036       (2,518)
                                                      -------      -------      -------      -------      -------      -------
Net Interest Income                                   $   964      $ 2,089      ($1,125)     $   904      $ 1,560      ($  656)
                                                      =======      =======      =======      =======      =======      =======
</TABLE>

For the year ended December 31, 2003, net interest income increased by 11.4%, or
$964,000 over 2002. Net interest income increased due to an expanded earning
asset base, as the net interest margin compressed slightly from 3.43% on a fully
tax-equivalent basis to 3.10%, for the years 2002 and 2003, respectively. In
2003, the continued low interest rate environment produced an extremely fast
pace of refinancing activity in the residential and commercial real estate
portfolios at relatively lower interest rates. This coupled with the inability
of many deposit products to reprice downward because of already low interest
rates, acted to slightly compress the Corporation's net interest margin.


                                       43
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

AVERAGE BALANCE SHEET

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,
                                          ---------------------------------------------------------------------------------------
                                                      2003                          2002                          2001
                                          --------------------------    ----------------------------   --------------------------
                                                     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
     Federal funds sold                   $  8,257   $     90   1.09%   $ 16,449     $   280    1.70%  $ 23,300   $   974    4.18%
     Securities                             58,330      1,893   3.25      52,978       2,392    4.52     34,084     1,927    5.65
     Loans                                 242,742     14,437   5.95     180,953      12,284    6.79    153,547    12,633    8.23
                                          --------   --------   ----    --------     -------    ----   --------   -------    ----
     Total Earning Assets/
          Total Interest Income            309,329     16,420   5.31%    250,380      14,956    5.97%   210,931    15,534    7.36%
                                                     --------   ----                 -------    ----              -------    ----
     Cash and due from banks                 6,247                         6,089                          5,904
     All other assets                        8,436                         1,579                          1,367
                                          --------                      --------                       --------
     Total Assets                         $324,012                      $258,048                       $218,202
                                          ========                      ========                       ========
Liabilities and Equity
     NOW and money market accounts        $ 38,007        436   1.15%   $ 24,205         307    1.27%  $ 18,150       240    1.32%
     Savings deposits                        5,815         36   0.62       6,784          65    0.96      7,865       156    1.98
     Time deposits                         147,199      4,103   2.79     135,349       4,564    3.37    136,281     6,984    5.12
     FHLB advances and repurchase
        Agreements                          64,034      1,940   3.03      31,412       1,162    3.70     11,931       472    3.96
     Capitalized lease and ESOP                297         13   4.38       1,308         147   11.24      1,391       163   11.72
     Guaranteed preferred beneficial
        interest in Corporation's
        subordinated debentures             10,000        505   5.05       5,151         288    5.59       ----      ----    ----
                                          --------   --------   ----    --------     -------    ----   --------   -------    ----
     Total Interest Bearing Liabilities/
        Total Interest Expense/Interest
        Rate Spread                        265,352      7,033   2.65%    204,209       6,533    3.20%   175,618     8,015    4.56%
                                                     --------   ----                 -------    ----              -------    ----
     Noninterest bearing demand deposits    34,655                        31,674                         21,907
     All other liabilities                   1,119                           858                            918
     Stockholders' equity                   22,886                        21,307                         19,759
                                          --------                      --------                       --------
     Total Liabilities and Stockholders'
        Equity                            $324,012                      $258,048                       $218,202
                                          ========                      ========                       ========
Net Interest Income                                  $  9,387                       $  8,423                 --    $7,519
                                                     ========                        =======                      =======
Net Interest Margin (Net Interest
     Income/Total Earning Assets)                               3.03%                           3.36%                        3.56%
                                                                ----                            ----                         ----
Taxable equivalent                                              3.10%                           3.43%                        3.60%
                                                                ====                            ====                         ====
</TABLE>


                                       44
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

NONINTEREST INCOME

Noninterest income increased by 52.7%, to $8.4 million for 2003. Mortgage
banking income of $7.4 million provided the largest segment of growth in
noninterest income. The mortgage banking income consisted of origination fee
income received by the mortgage company upon the sale of residential mortgages.
The increase in mortgage banking income was partially the result of additional
mortgage origination offices established in 2003. Additionally, the increased
demand for mortgages was due in part to the interest rate environment
experienced in 2003. Other income of $385,000 increased in 2003 primarily from
the purchase of a bank owned life insurance investment of $7 million which
provided $222,000 in noninterest income. Security sales of $35.7 million and
$19.3 million for 2003 and 2002, respectively, resulted in net security gains of
$417,000 and $262,000, respectively. The net security gains were primarily the
result of portfolio restructuring.

NONINTEREST EXPENSE

Noninterest expense of $14.6 million increased 38.3% primarily as a result of an
increase in salary, benefits and payroll tax expense. The largest portion of
this increase was commissioned based compensation expense for loan originators
at the mortgage company subsidiary. Total commissions, salaries, benefits and
payroll expense from the mortgage company in 2003 were $6.2 million. Of this
total expense, approximately 83% was attributable to variable based commissions
and benefits.

Total noninterest expense excluding the mortgage operations increased $894,000,
or 15.7% over 2002, primarily attributable to salary and benefit costs from the
general expansion of banking operations, including the purchase and assumption
of North Oakland Community Bank.


                                       45
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES; ASSET/LIABILITY MANAGEMENT

Liquidity is needed to meet loan requests, to accommodate possible outflows in
deposits, and to take advantage of other investment opportunities. Funding of
loan requests, providing for liability outflows, and managing interest rate risk
require continuous analysis to match the maturities of specific categories of
loans and investments with specific types of deposits and borrowings. Liquidity
depends upon the mix of the banking institution's potential sources and uses of
funds. For the Bank, the major sources of liquidity 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 three
facilities totaling $22.5 million, unsecured federal funds borrowing facilities,
and a $75.0 million secured line of credit with the FHLB, of which $54.4 million
is used. The Bank's large deposits which might fluctuate in response to interest
rate changes are closely monitored. These deposits consist mainly of jumbo time
certificates of deposit. We may from time to time, decide to price deposits
aggressively for strategic reasons which may result in significant deposit
inflows.

In addition to normal loan funding and deposit flow, we also need to maintain
liquidity to meet the demands of certain unfunded loan commitments and standby
letters of credit. As of December 31, 2003, we had a total of $71.0 million in
unfunded loan commitments and $1.0 million in unfunded standby letters of
credit. As of December 31, 2003, $123.4 million in certificates of deposit are
projected to mature in 2004. Many of these certificates of deposit are
automatically renewable. We believe that the Bank has sufficient funds and
resources to meet all short and long-term liquidity needs.

In January 2003, the Bank purchased its main office and the adjacent property
known as 120 North Main Street. The adjacent property location will be used for
expansion of the banking and mortgage operations. The preliminary construction
and development costs are expected to be more than offset, on an annualized per
square foot basis, by the corresponding reduction in lease expense currently
paid to an outside landlord. The completed project, which is in early stages of
development, is estimated to cost in the range of $4 million.

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, recommending
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.


                                       46
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

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.

The following table presents an analysis of our interest-sensitivity gap
position at December 31, 2003. All interest-earning assets and interest-bearing
liabilities are shown based on the earlier of their contractual maturity or
repricing date adjusted by forecaster prepayment and decay rates. Asset
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                    $ 1,100          $   ----          $  ----           $  ----     $  1,100
   Securities, at amortized cost          19,584             4,967           22,448            11,175       58,174
   FHLB stock                               ----              ----             ----             3,103        3,103
   Loans (including held for sale)        84,740            51,627           94,460            47,242      278,069
                                         -------          --------          -------           -------     --------
     Total                               105,424            56,594          116,908            61,520     $340,446
                                                                                                          ========
Interest bearing liabilities
   NOW and money market accounts           5,943            17,660           17,881              ----      $41,484
   Savings deposits                          511             1,597            4,281              ----        6,389
   Jumbo time deposits                    63,867            25,779           20,898             5,441      115,985
   Time deposits < $100,000               11,826            28,175           14,169             3,514       57,684
   Repurchase agreements                  12,836              ----             ----              ----       12,836
   FHLB and Repo sweeps                   15,000             4,000           25,874             9,500       54,374
   Capitalized lease obligation and
     ESOP loan                               271              ----             ----              ----          271
   Guaranteed preferred beneficial
     interest in Corporation's
     subordinated debentures              10,000              ----             ----              ----       10,000
                                         -------          --------          -------           -------     --------
     Total                               120,254            77,211           83,103            18,455     $299,023
                                         -------          --------          -------           -------     ========
Rate sensitivity gap                    ($14,830)         ($20,617)         $33,805           $43,065
Cumulative rate sensitivity gap                          ($35,447)         ($1,642)           $41,423
Rate sensitivity gap ratio                 0.88%             0.73%            1.41%              3.33
Cumulative rate sensitivity gap ratio                        0.82             0.99               1.14
</TABLE>


                                       47
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

The Bank also began to evaluate interest rate risk using a simulation model in
1999. 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 the timing, magnitude, and frequency of interest rate changes, changes in
market conditions, management's pricing decisions, and customer reactions to
those decisions, among other factors.

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, 2003, the simulation model projects net interest income would
increase by 10 basis points of the base net interest income, assuming an
instantaneous parallel shift upward in the yield curve by 200 basis points.
Conversely, if the yield curve were to decrease by 200 basis points, the model
projects net interest income would decrease by 44 basis points. This simulation
projected less than one percent change in net interest income in both the upward
and downward hypothetical shift.


                                       48
<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 quoted on the Nasdaq
National Market (NNM) under the ticker symbol "CCBD." At December 31, 2003,
there were approximately 460 record holders of the Corporation's common stock.

The following table presents the quarterly range of high and low sales prices of
Community Central Bank Corporation for 2002 and 2003, 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 do not include retail mark-up,
mark-down or dealer commission. Dividend payment decisions are made with a
variety of factors, including earnings, financial condition, market
considerations and regulatory restrictions. Restrictions of dividend payments
are described in Notes 13 and 19 of the Notes to Consolidated Statements
included in this Annual Report.

<TABLE>
<CAPTION>
                                    2003
                  -------------------------------------------
                                                         Cash
                                                       Dividends
Quarter            High              Low                Declared
                  ------            ------               ----
<S>               <C>               <C>                <C>
Fourth            $14.52            $10.98               $.05
Third              12.00             10.00                .05
Second             11.52              9.23                .05
First              10.35              8.99                .05
</TABLE>

<TABLE>
<CAPTION>
                                      2002
                   ------------------------------------------
                                                        Cash
                                                      Dividends
Quarter            High               Low              Declared
                   -----             -----              -----
<S>                <C>               <C>              <C>
Fourth             $9.95             $7.65              $0.05
Third               8.50              7.50               0.05
Second             10.75              7.70               0.05
First               9.00              7.15               ----
</TABLE>


                                       49
<PAGE>
COMMUNITY CENTRAL BANK CORPORATION
STOCKHOLDER INFORMATION

PRIMARY MARKET MAKERS

Raymond James & Associates, Inc.              Howe Barnes Investment, Inc.
880 Carillon Park                             135 South LaSalle St.
St. Petersburg, FL  33716                     Chicago, IL  60603-4398

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.             Sandler O'Neill & Partners, L.P.
15 Exchange Place                             919 Third Avenue, 6th Floor
Jersey City, NJ  07302-3912                   New York, NY  10022

Wedbush Morgan Securities, Inc.
1000 Wilshire Blvd., 9th Floor
Los Angeles, CA  90017

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 100 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 20, 2004, at Best Western Concorde Inn, 44315 Gratiot Avenue,
Clinton Township, MI 48036.


                                       50



<PAGE>


                                                                      3528-AR-04