<PAGE>   1
COMMUNITY CENTRAL BANK CORPORATION
FORM 10-KSB (continued)



                                   EXHIBIT 13


                               PROXY STATEMENT AND
                      2000 ANNUAL REPORT OF THE CORPORATION





<PAGE>   2

                                    CCB LOGO

                                   NOTICE OF
                                ANNUAL MEETING,
                                PROXY STATEMENT
                                       &
                                2000 STOCKHOLDER
                                     REPORT
<PAGE>   3


                       COMMUNITY CENTRAL BANK CORPORATION
                              100 NORTH MAIN STREET
                             MOUNT CLEMENS, MI 48043


                    NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
                          TO BE HELD ON APRIL 17, 2001

                   TO THE HOLDERS OF SHARES OF COMMON STOCK OF
                       COMMUNITY CENTRAL BANK CORPORATION

         NOTICE IS HEREBY GIVEN that the Annual Meeting of Stockholders of
COMMUNITY CENTRAL BANK CORPORATION will be held at the Fern Hill Country Club,
17600 Clinton River, Clinton Township, Michigan, on Tuesday, April 17, 2001, at
9:00 A.M., for the purpose of considering and voting upon the following matters:

         1. ELECTION OF DIRECTORS. To elect four Class II directors for a three
year term, as detailed in the accompanying Proxy Statement.

         2. OTHER BUSINESS. To transact such other business as may properly be
brought before the meeting, or any adjournment or adjournments of the meeting.

         Only those stockholders of record at the close of business on Tuesday,
February 27, 2001, shall be entitled to notice of and to vote at the meeting.

         We urge you to sign and return the enclosed proxy ballot as promptly as
possible, whether or not you plan to attend the meeting in person. We would
appreciate receiving your proxy ballot by Tuesday, April 3, 2001.

By Order of the Board of Directors,



Harold W. Allmacher                                  Raymond M. Contesti
Chairman of the Board                                President
   and Chief Executive Officer




Dated:  March 19, 2001


<PAGE>   4


                       COMMUNITY CENTRAL BANK CORPORATION
                              100 NORTH MAIN STREET
                             MOUNT CLEMENS, MI 48043

                                                                 March 19, 2001

                                 PROXY STATEMENT

                               GENERAL INFORMATION

         This Proxy Statement is furnished to stockholders of Community Central
Bank Corporation (the "Corporation") in connection with the solicitation of
proxies by the Board of Directors of the Corporation, for use at the Annual
Meeting of Stockholders of the Corporation to be held on Tuesday, April 17,
2001, at 9:00 A.M., at the Fern Hill Country Club, 17600 Clinton River, Clinton
Township, Michigan, and at any and all adjournments of the meeting. It is
expected that the proxy materials will be mailed to stockholders on or about
March 19, 2001.

         Any proxy given pursuant to this solicitation may be revoked by the
person giving it at any time before its exercise. Unless the proxy is revoked,
the shares represented by it will be voted at the Annual Meeting or any
adjournment of the meeting.

         The entire cost of soliciting proxies will be borne by the Corporation.
Proxies may be solicited by mail or telegraph, or by directors, officers, or
regular employees of the Corporation or its subsidiary, in person or by
telephone. The Corporation will reimburse brokerage houses and other custodians,
nominees and fiduciaries for their out-of-pocket expenses for forwarding
soliciting material to the beneficial owners of common stock of the Corporation.

         The Board of Directors, in accordance with the By-Laws of the
Corporation, has fixed the close of business on February 27, 2001, as the record
date for determining the stockholders entitled to notice of and to vote at the
Annual Meeting and at any and all adjournments of the meeting.

         At the close of business on the record date, the outstanding number of
voting securities of the Corporation was 2,661,922 shares of common stock, each
of which is entitled to one vote. A majority of the outstanding shares will
constitute a quorum at the meeting. Abstentions and broker non-votes are counted
for purposes of determining the presence or absence of a quorum for the
transaction of business.


                              ELECTION OF DIRECTORS

         The Corporation's Articles of Incorporation and By-Laws provide that
the number of directors, as determined from time to time by the Board of
Directors, shall be no less than six and no more than 15. The Board of Directors
has presently fixed the number of directors at 13. The Articles of Incorporation
and By-Laws further provide that the directors shall be divided into three
classes, Class I, Class II and Class III, with each class serving a staggered
three year term and with the number of directors in each class being as nearly
equal as possible.

                                       1

<PAGE>   5


         The Board of Directors has nominated Salvatore Cottone, Bobby L. Hill,
Dean S. Petitpren and Ronald R. Reed, as Class II directors for three year terms
expiring at the 2004 Annual Meeting, and upon election and qualification of
their successors. Each of the nominees is presently a Class II director of the
Corporation whose term expires at the April 17, 2001, Annual Meeting of
Stockholders. The other members of the Board, who are Class I and Class III
directors, will continue in office in accordance with their previous elections
until the expiration of their terms at the 2002 or 2003 Annual Meeting.

         It is the intention of the persons named in the enclosed proxy to vote
the proxy for the election of the four nominees. The proposed nominees for
election as directors are willing to be elected and serve; but in the event that
any nominee at the time of election is unable to serve or is otherwise
unavailable for election, the Board of Directors may select a substitute
nominee, and in that event the persons named in the enclosed proxy intend to
vote the proxy for the person so selected. If a substitute nominee is not
selected, the proxy will be voted for the election of the remaining nominees.
The affirmative vote of a plurality of the votes cast is required for the
nominees to be elected. Votes withheld and broker non-votes are not counted
toward a nominee's total.





                                       2
<PAGE>   6


STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

         The following table presents information regarding the beneficial
ownership of the Corporation's common stock as of February 1, 2001, by each of
the directors (and nominees for election) of the Corporation whose terms of
office will continue after the Annual Meeting, each of the executive officers
named in the summary compensation table, and all directors and executive
officers of the Corporation as a group.

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
                                                 Amount        Percent of Class
                                              Beneficially    Beneficially Owned
     Name of Beneficial Owner                   Owned (1)            (9)
--------------------------------------------------------------------------------
<S>                                           <C>             <C>
Harold W. Allmacher .......................      85,931 (2)         3.21%
Gebran S. Anton ...........................      96,104 (3)         3.60%
Joseph Catenacci ..........................      66,064 (3)         2.48%
Raymond M. Contesti .......................      36,191 (3)         1.36%
Salvatore Cottone .........................      65,583 (3)         2.46%
Celestina Giles ...........................      21,213 (4)         0.79%
Bobby L. Hill .............................      23,924 (3)         0.90%
Joseph F. Jeannette .......................     100,130 (3)         3.75%
Dean S. Petitpren .........................     114,261 (3)         4.28%
Ronald R. Reed ............................       4,655 (5)         0.17%
Michael D. Schwartz .......................      42,390 (6)         1.59%
Anthony R. Tersigni .......................      13,397 (7)         0.50%
David A. Widlak ...........................      39,920 (6)         1.50%
All directors and executive officers of the
  Corporation as a group (14 persons)......     715,203 (8)        26.08%
</TABLE>

--------------------------------------------------------------------------------
(1)  Some or all of the common stock listed may be held jointly with, or for the
     benefit of, spouses or relatives of, or various trusts established by, the
     person indicated.
(2)  Includes options to purchase 11,941 shares exercisable within 60 days of
     February 1, 2001.
(3)  Includes options to purchase 6,956 shares exercisable within 60 days of
     February 1, 2001.
(4)  Includes options to purchase 9,741 shares exercisable within 60 days of
     February 1, 2001.
(5)  Includes options to purchase 1,655 shares exercisable within 60 days of
     February 1, 2001.
(6)  Includes options to purchase 1,100 shares exercisable within 60 days of
     February 1, 2001.
(7)  Includes options to purchase 2,564 shares exercisable within 60 days of
     February 1, 2001.
(8)  Includes options to purchase 80,233 shares exercisable within 60 days of
     February 1, 2001.
(9)  The percentages shown are based on 2,661,922 shares of the Corporation's
     common stock outstanding, plus the number of shares that the named person
     or group has the right to acquire within 60 days.

         The table below shows the beneficial ownership of the Corporation's
common stock by each person who was known by the Corporation to own beneficially
more than 5% of the Corporation's common stock as of February 1, 2001. The
number of shares beneficially owned is based on information that has been
provided to the Corporation by such person. To the best of the Corporation's
knowledge, no other person owns more than 5% of the Corporation's outstanding
common stock.

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------
           Name and Address                                Shares            Percent of
           of Beneficial Owner                        Beneficially Owned    Common Stock
-----------------------------------------------------------------------------------------

<S>                                                   <C>                   <C>
Willard G. Pierce and Jessie M. Pierce Foundation            222,942              8.38%
   820 West Clinton Street
   Hastings, MI  49058
</TABLE>



                                       3

<PAGE>   7


INFORMATION ABOUT DIRECTORS AND NOMINEES AS DIRECTORS

         The following table shows certain information about the directors of
the Corporation. The directors listed are those whose term of office will
continue after the Annual Meeting, as well as those persons who have been
nominated for election as a director. All of the directors listed are also
directors of the Corporation's subsidiary, Community Central Bank (the "Bank").

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                                                             Has Served
                                                                            as a Director     Year When Term
           Name, Age, Principal Occupation                                      Since        of Office Expires
----------------------------------------------------------------------------------------------------------------

<S>                                                                              <C>                <C>
Harold W. Allmacher, 61...................................................       1996               2002
   Chairman of the Board and Chief Executive Officer
     of the Corporation

Gebran S. Anton, 68.......................................................       1996               2002
   Co-owner; Anton, Zorn & Associates (Commercial & Industrial
     Real Estate Brokerage)
   President; Gebran Anton Development Co. (Real Estate Development)

Joseph Catenacci, 65......................................................       1996               2003
   Chief Operating Officer; John Carlo, Inc. (Highway and Heavy
     Construction)

Raymond M. Contesti, 65...................................................       1996               2003
   Superintendent; Clintondale Community Schools

Salvatore Cottone, 60.....................................................       1996               2001
   President; Resco, Inc. (Real Estate Development)

Celestina Giles, 53.......................................................       1996               2003
   Executive Secretary of the Bank

Bobby L. Hill, 68.........................................................       1996               2001
   County Commissioner; Macomb County Board of Commissioners

Joseph F. Jeannette, 56                                                          1996               2002
   Assistant Director; Utica Community Schools

Dean S. Petitpren, 58.....................................................       1996               2001
   President; Petitpren, Inc. (Beer Distribution)

Ronald R. Reed, 53........................................................       1999               2001
   President and CEO of the Bank

Michael D. Schwartz, 71...................................................       2001               2002
   Vice President; Five Star Land Company (Real Estate Investment)
   Retired Circuit Court Judge Macomb County, 1986 - 2000

Anthony R. Tersigni, 51...................................................       1998               2003
   Exec. Vice President & Chief Operating Officer, Ascension Health

David A. Widlak, 52.......................................................       1999               2003
   Attorney-at-law
</TABLE>


                                       4
<PAGE>   8



         Harold W. Allmacher and Celestina Giles held similar positions with Old
Kent Bank - Macomb (formerly First National Bank in Macomb County) for
substantially all of the two year period prior to the inception of the
Corporation and the Bank. Michael D. Schwartz was formerly a Macomb County
Circuit Court Judge from 1986 to 2000. Ronald Reed joined Community Central Bank
in September 2000. He was elected President and Chief Executive Officer of the
Bank on October 31, 2000. He served as Vice President of business development at
First International Bank from October 1999 to September 2000. He headed Midwest
Business Strategies, Inc. from May 1998 to October 1999. Prior to that he served
with Michigan National Bank from March 1970 to May 1998 most recently as an area
director for small business banking.

         There are no family relationships among any of the Corporation's
directors or executive officers.

BOARD OF DIRECTORS MEETINGS AND COMMITTEES

         The Corporation has standing Audit and Compensation Committees of the
Board of Directors.

         The members of the Audit Committee consist of Salvatore Cottone
(Chairman), Bobby L. Hill, and Joseph F. Jeannette. The functions of the Audit
Committee and its activities are described below under the heading "Report of
the Audit Committee."

         The members of the Compensation Committee consist of Raymond M.
Contesti (Chairman), and Joseph F. Jeannette. The Compensation Committee's
responsibilities include considering and recommending to the Board of Directors
any changes in compensation and benefits for officers of the Corporation.
Officers of the Corporation receive no separate compensation from the
Corporation for services rendered to it. All Officers of the Corporation other
than Raymond M. Contesti and Dean S. Petitpren are also officers of the Bank.
The Compensation Committee is also responsible for administering the
Corporation's 1996 Employee Stock Option Plan.

         The Board of Directors is responsible for reviewing and making
recommendations as to the size and composition of the Board of Directors,
nominating candidates for election as directors at the annual meetings, and
filling any vacancies that may occur between annual meetings. The Board of
Directors will consider as potential nominees persons recommended by
stockholders. Recommendations should be submitted to the Board of Directors in
care of Harold W. Allmacher, Chairman of the Board and Chief Executive Officer
("CEO") of the Corporation. Each recommendation should include a personal
biography of the suggested nominee, an indication of the background or
experience that qualifies such person for consideration, and a statement that
such person has agreed to serve if nominated and elected. Stockholders who
themselves wish to effectively nominate a person for election to the Board of
Directors, as contrasted with recommending a potential nominee to the Board for
its consideration, are required to comply with the advance notice and other
requirements detailed in the Corporation's Articles of Incorporation.

         During the year ended December 31, 2000, there were a total of eleven
meetings of the Board of Directors of the Corporation. Each director attended at
least 75% of the total number of meetings of the Board of Directors and
committees of the Board on which the director served that were held in 2000
during the period that the director served. There were four meetings of the
Audit Committee and three meetings of the Compensation Committee during 2000.

                                       5

<PAGE>   9

         During 2000, each member of the board was paid $1,000 per month, in
aggregate, for services as a director of the Corporation and the Bank. For the
year 2001, each director will receive $1,250 per month in aggregate for all
services as a director of the Corporation or the Bank.

         Members of the Corporation's Board of Directors who are not employees
of the Corporation or any of its affiliates ("nonemployee directors") each
received an option to purchase 5,856 shares of common stock of the Corporation
at a price of $6.83 per share, pursuant to the Corporation's 1996 Stock Option
Plan for Nonemployee Directors, which was approved on June 1, 1996. Under this
Plan, each option was immediately exercisable for 1,464 shares when granted.
Thereafter, as of the date of each annual meeting, each option became
exercisable for an additional 1,464 shares until the 1999 Annual Meeting, at
which time it became exercisable in full. Each option expires not later than
seven years after its date of grant. Nonemployee directors who were appointed or
elected after June 1, 1996, and at or before the 1999 Annual Meeting, received
an option for a lesser number of shares, the number of which depended on which
Annual Meeting was the first annual meeting occurring concurrently with, or
after he or she became a nonemployee director.

         Under the Corporation's 1999 Stock Option Plan for Directors, which was
approved by the Stockholders at the Annual Meeting held in April of 1999, the
nonemployee directors and the Chairman of the Board of the Corporation received
an option to purchase 4,400 shares of common stock of the Corporation at a price
of $8.64 per share. Under this plan, each option was exercisable for 1,100
shares as of the 2000 Annual Meeting, and is exercisable for an additional 1,100
shares as of each subsequent Annual Meeting until it becomes exercisable in
full. Each option expires not later than seven years after its date of grant. A
nonemployee director or a Chairman of the Board who is appointed or elected
after April 21, 1999, and at or before the 2003 Annual Meeting receives an
option for a lesser number of shares, the number of which depends on which
Annual Meeting is the first Annual Meeting occurring concurrently with, or after
he or she became a nonemployee director or Chairman of the Board.

                                       6

<PAGE>   10


REPORT OF THE AUDIT COMMITTEE

         During fiscal 2000, the Audit Committee met four times. The functions
of the Audit committee are focused on the following areas:

         -  The adequacy of the Corporation's internal controls and financial
            reporting process and the reliability of the company's financial
            statements
         -  The independence and performance of the Corporation's internal
            auditor and independent auditing firm, including the scope of audit
            and non-audit services performed
         -  The Corporation's compliance with legal and regulatory requirements
         -  The results of audits and regulatory examinations

         The Audit Committee meets with management periodically to consider the
adequacy of the Corporation's internal controls and the objectivity of its
financial reporting. The Audit Committee discusses these matters with the
Corporation's independent auditors and with the Corporation's financial
personnel and internal auditor.

         The Audit Committee regularly meets privately with the Corporation's
internal auditor and annually with the independent auditing firm, each of whom
has unrestricted access to the Audit Committee.

         The Audit Committee also recommends to the Board the appointment of the
independent auditors and reviews periodically their performance and independence
from management. The firm of Plante & Moran LLP was engaged as the Corporation's
independent auditors for fiscal 2000.

         The directors who serve on the Audit Committee are all "independent"
for purposes of the National Association of Securities Dealers listing
standards. That is, the Board of Directors has determined that no member of the
Audit Committee has a relationship to the Corporation or the Bank that may
interfere with the member's independence from management.

         The requirement for and general purpose of the Corporation's Audit
Committee is established in the Corporation's bylaws. The Board has not
presently adopted a written charter setting out the audit related functions the
Audit Committee is to perform. The Audit Committee has adopted an Audit Policy,
approved by the full Board, that governs the activities of the internal auditor.

         Management has primary responsibility for the Corporation's financial
statements and the overall reporting process, including the Corporation's system
of internal controls.

         The independent auditors audit the annual financial statements prepared
by management, express an opinion as to whether those financial statements
fairly present the financial position, results of operations and cash flows of
the Corporation in conformity with generally accepted accounting principles and
discuss with the Audit Committee any issues they believe should be raised with
us. The independent auditors also review the corporation's interim financial
information included in quarterly reports on Form 10-QSB prior to submission to
the SEC.

                                       7

<PAGE>   11


         This year, the Audit Committee reviewed the Corporation's audited
financial statements and met with both management and Plante & Moran LLP, the
Corporation's independent auditors, to discuss those financial statements. In
reliance on the review and discussion, the Audit Committee believes that the
Corporation's financial statements are fairly presented in conformity with
generally accepted accounting principals in all material respects. Therefore the
Audit Committee recommended to the Board that the Corporation's audited
financial statements be included in the Corporation's Annual Report on Form
10-KSB for the fiscal year ended December 31, 2000.

         The Audit Committee has received from and discussed with Plante & Moran
LLP the written disclosure and the letter required by Independence Standards
Board No. 1 (Independence Discussions with Audit Committees). These items relate
to that firm's independence from the Corporation. The Audit Committee also
discussed with Plante & Moran LLP any matters required to be discussed by
Statement on Auditing Standards No. 61 (Communication with Audit Committees).


                                 AUDIT COMMITTEE

                                Salvatore Cottone
                                  Bobby L. Hill
                               Joseph F. Jeannette


AUDIT FEES

         The aggregate fees billed to the Corporation for 2000 by the
Corporation's accounting firm, Plante & Moran, LLP, are as follows:

<TABLE>
<S>                                                                    <C>
Audit Fees.........................................................    $53,200
Financial Information Systems Design and Implementation Fees.......    $     0
All other fees.....................................................    $32,186
                                                                       -------
                                                                       $85,386
                                                                       =======
</TABLE>




                                       8
<PAGE>   12


SUMMARY COMPENSATION TABLE

         The following table details the compensation awarded, earned, or paid
to the named executive officers for the three years ended December 31, 2000:

<TABLE>
<CAPTION>
                                                                                    Long Term
                                           Annual Compensation                    Compensation
                               -----------------------------------------          ------------
         Name and
         Principal                                            Other Annual                         All Other
         Position (1)          Year     Salary     Bonus     Compensation (2)       Options      Compensation
         --------              ----     -----      -----     ---------------        -------      ------------

<S>                             <C>    <C>        <C>       <C>                <C>            <C>
Harold W. Allmacher,            2000         $0    $15,000        $17,977            1,100              $0
   Chairman of the Board        1999    $67,077    $16,000         $8,100            9,500              $0
   and CEO of the Corporation   1998    $90,600    $16,400             $0                0              $0

David A. Widlak,                2000         $0    $15,000        $12,000                0              $0
   Vice Chairman of the Board   1999         $0         $0         $1,000            4,400              $0
   of the Corporation and
   Chairman of the Bank

Andrew Tassopoulos,             2000    $37,385    $16,000        $12,000            5,500         $63,554(3)
   Former President             1999    $97,200    $16,000         $7,250            5,500          $3,408
                                1998    $90,600    $16,400             $0                0          $2,700
</TABLE>

(1)  Andrew Tassopoulos, formerly President of the Bank, resigned effective
     April 18, 2000. As a result of this, David Widlak served as Chairman of the
     Board and Acting Chief Executive Officer of the Corporation and the Bank
     from April 18, 2000 to October 31, 2000. During this transition, Harold
     Allmacher served as President and Chief Operating Officer of the Bank and
     the Corporation until Ronald Reed was elected President and Chief Executive
     Officer of the Bank on October 31, 2000. Mr. Allmacher then resumed his
     position as Chairman and Chief Executive Officer of the Corporation,
     effective October 31, 2000.

(2)  These amounts represent fees paid to the named officers for serving as a
     member of the Board of Directors of the Corporation and the Bank and their
     committees. In addition, the amount shown for Mr. Allmacher for 2000
     includes $5,977 of non cash compensation attributed to him for the personal
     use of a company automobile.

(3)  This amount represents severance payments made to Mr. Tassopoulos in 2000
     following his resignation.


                                       9
<PAGE>   13


OPTIONS GRANTED IN 2000

         The following table provides information on options granted to the
named executive officers during the year ended December 31, 2000:

<TABLE>
<CAPTION>


                                           Individual Grants

                      -----------------------------------------------------------
                       Number of        % of Total
                         Shares          Options
                      Underlying        Granted to      Exercise or
                        Options         Employees       Base Price     Expiration
       Name             Granted          in 2000         Per Share        Date
-----------------     ----------        ----------      ----------      --------

<S>                        <C>        <C>              <C>           <C>
Harold W. Allmacher     1,100               3%             $5.23      01-05-2010

David A. Widlak         None                ----            N/A           N/A

Andrew Tassopoulos      5,500               17%            $5.23      Options Expired
</TABLE>


AGGREGATED STOCK OPTION EXERCISES IN 2000 AND YEAR END OPTION VALUES

         The following table provides information on the exercise of stock
options during the year ended December 31, 2000, by the named executive
officers, and the value of unexercised options at December 31, 2000:

<TABLE>
<CAPTION>
                                                                                      Value of
                                                          Number of                  Unexercised
                                                         Unexercised               "In-the-Money"
                            Shares                        Options at                 Options at
                         Acquired on    Value             12-31-2000                12-31-2000 (1)
      Name                 Exercise    Realized    Exercisable / Unexercisable  Exercisable / Unexercisable
-----------------        -----------  ---------    ---------------------------  ---------------------------
<S>                    <C>           <C>          <C>                           <C>
Harold W. Allmacher         None          N/A           11,941 / 6,930                  $0 / $0

David A. Widlak             None          N/A            1,100 / 3,300                  $0 / $0

Andrew Tassopoulos          None          N/A                0 / 0                      $0 / $0
</TABLE>


(1)  Values are calculated by subtracting the exercise price of the option from
     the fair market value of the underlying common stock. For purposes of this
     table, fair market value is deemed to be $5.375 per share, the average of
     the closing high bid and low asked prices reported by the OTC Bulletin
     Board as of December 31, 2000.


                                       10

<PAGE>   14





CERTAIN TRANSACTIONS

         The Bank has had, and expects to have in the future, loan and other
financial transactions in the ordinary course of business with the Corporation's
directors, executive officers, and principal stockholders and their associates.
All such transactions (i) were made in the ordinary course of business, (ii)
were made on substantially the same terms, including interest rates and
collateral on loans, as those prevailing at the time for comparable transactions
with other persons, and (iii) in the opinion of management, did not involve more
than the normal risk of collectibility, or present other unfavorable features.

         As of December 31, 2000, the Bank had outstanding 36 loans to the
directors and executive officers of the Corporation, totaling approximately $4.1
million in aggregate amount under commitments totaling approximately $9.2
million.

         The main office building of the Corporation and the Bank is being
leased from T.A.P. Properties, LLC, a company owned by two directors; Gebran
Anton and Dean Petitpren. The lease commenced in 1996 and has a term of 15
years. The monthly lease payments are currently $12,500 per month, and increase
over the term of the lease to $16,531 per month in the final five years of the
lease. The Bank also leases an office suite in a building that is owned by Mr.
Anton. The lease has a term of five years, and commenced in 1997. The monthly
lease payments are currently $2,148 per month, and increase over the term of the
lease to $2,274 per month in the final year of the lease. The terms of these
leases and rent payments similar to those prevailing at the time they were
signed, for comparable leases in the local market.


                                       11

<PAGE>   15


                        SELECTION OF INDEPENDENT AUDITOR

         The Board of Directors has selected Plante & Moran, LLP as the
Corporation's principal independent auditor for the year ending December 31,
2001. Representatives of Plante & Moran plan to attend the Annual Meeting of
Stockholders, will have the opportunity to make a statement if they desire to do
so, and will respond to appropriate questions by stockholders.


                  SHAREHOLDER PROPOSALS FOR 2002 ANNUAL MEETING

         A proposal submitted by a stockholder for the 2002 Annual Meeting of
Stockholders should be sent to Lisa Medlock; Corporate Secretary, at 100 North
Main Street, PO Box 7, Mount Clemens, MI 48046-0007. Proposals must be received
by November 15, 2001, in order to be eligible to be included in the
Corporation's Proxy Statement for that meeting.


                                  OTHER MATTERS

         The Board of Directors does not know of any other matters to be brought
before the Annual Meeting. If other matters are presented upon which a vote may
properly be taken, it is the intention of the persons named in the proxy to vote
the proxies in accordance with their best judgment.


                                       12
<PAGE>   16




                             COMMUNITY CENTRAL BANK
                                  CORPORATION





                          Independent Auditor's Report

                                       and

                               Stockholder Report




                                December 31, 2000


<PAGE>   17
                        [PLANTE & MORAN, LLP LETTERHEAD]



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, 2000 and 1999, and the related consolidated
statements of operations, comprehensive income, changes in stockholders' equity,
and cash flow for the years ended December 31, 2000, 1999 and 1998. These
financial statements are the responsibility of the Corporation's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.

We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform our audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the 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 financial statements referred to above present fairly, in
all material respects, the consolidated financial position of Community Central
Bank Corporation as of December 31, 2000, and 1999, and the results of its
operations and cash flow for the years ended December 31, 2000, 1999 and 1998,
in conformity with generally accepted accounting principles.



S/ PLANTE & MORAN, LLP

January 26, 2001
Troy, Michigan



<PAGE>   18


COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED BALANCE SHEET

<TABLE>
<CAPTION>
                                                                              December 31,
                                                                       --------------------------
                                                                         2000             1999
                                                                         ----             ----
Assets
                                                                             (in thousands)
<S>                                                                    <C>              <C>
Cash and Cash Equivalents
   Cash and due from banks (Note 2)                                    $   5,412        $   5,692
   Federal funds sold                                                     27,600           20,700
                                                                       ---------        ---------
   Total Cash and Cash Equivalents                                        33,012           26,392

Securities available for sale, at fair value (Note 3)                     18,508            9,546
Investment securities, at amortized cost (Note 3)                          2,134            4,638

Loans (Note 4)
   Residential mortgage loans                                             28,421           29,920
   Commercial loans                                                      121,953          105,574
   Installment loans                                                       5,889            5,818
                                                                       ---------        ---------
   Total Loans                                                           156,263          141,312
Allowance for credit losses (Note 5)                                      (2,654)          (1,927)
                                                                       ---------        ---------
   Net Loans                                                             153,609          139,385

Net property and equipment (Note 6)                                        1,873            1,893
Accrued interest receivable                                                1,247              843
Other assets                                                               1,256            1,027
                                                                       ---------        ---------
   Total Assets                                                        $ 211,639        $ 183,724
                                                                       =========        =========
</TABLE>

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


                                       1
<PAGE>   19


COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED BALANCE SHEET

<TABLE>
<CAPTION>
                                                                              December 31,
                                                                       --------------------------
                                                                         2000             1999
                                                                         ----             ----
Liabilities
                                                                    (in thousands, except share data)
<S>                                                                    <C>              <C>
Deposits
   Noninterest bearing demand deposits                                 $  18,983        $  16,540
   NOW and money market accounts                                          20,488           21,366
   Savings deposits                                                        8,768            8,803
   Time deposits (Note 7)                                                137,900          116,137
                                                                       ---------        ---------
   Total deposits                                                        186,139          162,846

Short term borrowings (Note 8)                                             4,157            1,605
Accrued interest payable                                                     990              442
Other liabilities                                                            203              306
Capitalized lease obligation (Note 9)                                      1,012            1,025
ESOP note payable (Note 10)                                                  421              471
                                                                       ---------        ---------
   Total Liabilities                                                     192,922          166,695

Stockholders' Equity (Note 11)

   Common stock     ($5 stated value; 9,000,000 shares authorized,
     2,661,922 shares issued and outstanding at 12-31-2000,
     2,420,024 shares issued and outstanding at 12-31-1999)               13,309           12,100
   Additional paid-in capital                                              5,016            6,226
   Accumulated surplus (deficit)                                             742             (682)
   Unearned employee benefit                                                (421)            (471)
   Accumulated other comprehensive income                                     71             (144)
                                                                       ---------        ---------
   Total Stockholders' Equity                                             18,717           17,029
                                                                       ---------        ---------
   Total Liabilities and Stockholders' Equity                          $ 211,639        $ 183,724
                                                                       =========        =========
</TABLE>

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



                                       2
<PAGE>   20


COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS


<TABLE>
<CAPTION>
                                                                                  Year Ended December 31,
                                                                       ---------------------------------------------
                                                                         2000             1999              1998
                                                                       ---------        ---------         ---------
                                                                             (in thousands, except per share data)
<S>                                                                    <C>              <C>               <C>
Interest Income
   Loans (including fees)                                              $  14,433        $  10,514         $   7,163
   Securities                                                                978            1,013             1,333
   Federal funds sold                                                      1,269            1,021               486
                                                                       ---------        ---------         ---------
   Total Interest Income                                                  16,680           12,548             8,982

Interest Expense
   Deposits                                                                8,556            6,208             4,818
   Short term borrowings                                                     137              101                82
   Capitalized lease obligation                                              137              139               139
   ESOP loan interest expense                                                 42               24              ----
                                                                       ---------        ---------         ---------
   Total Interest Expense                                                  8,872            6,472             5,039
                                                                       ---------        ---------         ---------
   Net Interest Income                                                     7,808            6,076             3,943
Provision for credit losses (Note 5)                                         855              851               530
                                                                       ---------        ---------         ---------
   Net Interest Income after Provision for Credit Losses                   6,953            5,225             3,413

Noninterest Income
   Deposit service charges                                                   252              270               173
   Net gain on calls of securities                                          ----               11                22
   Mortgage banking income                                                     5              108                87
   Other income                                                              307              264               159
                                                                       ---------        ---------         ---------
   Total Noninterest Income                                                  564              653               441

Noninterest Expense
   Salaries, benefits and payroll taxes (Note 12)                          2,143            1,755             1,665
   Net occupancy expense                                                     728              572               545
   Other operating expense (Note 13)                                       2,404            2,005             1,314
                                                                       ---------        ---------         ---------
   Total Noninterest Expense                                               5,275            4,332             3,524
                                                                       ---------        ---------         ---------
Income Before Taxes and Cumulative Effect of
   Change in Accounting Principle                                          2,242            1,546               330
Provision for Income Tax Expense (Benefit) (Note 14)                         818              563              (774)
                                                                       ---------        ---------         ---------
Income Before Cumulative Effect of Change in
   Accounting Principle                                                    1,424              983             1,104
Cumulative Effect of Change in Accounting Principle,
   Net of Tax of $29                                                        ----              (57)             ----
                                                                       ---------        ---------         ---------
Net Income                                                             $   1,424        $     926         $   1,104
                                                                       =========        =========         =========
</TABLE>

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




                                       3
<PAGE>   21


COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
(continued)

<TABLE>
<CAPTION>
                                                                                  Year Ended December 31,
                                                                       ---------------------------------------------
                                                                         2000               1999             1998
                                                                       ---------         ---------        ---------
                                                                             (in thousands, except per share data)

<S>                                                                    <C>                <C>              <C>
Basic earnings per share

Income before cumulative effect of accounting
   change                                                                 $0.55             $0.37            $0.55

Cumulative effect of accounting change                                    $----            ($0.02)           $----
                                                                       ---------         ---------        ---------
Net Income                                                                $0.55             $0.35            $0.55
                                                                       =========         =========        =========

Diluted earnings per share

Income before cumulative effect of accounting
   change                                                                 $0.55             $0.37            $0.54

Cumulative effect of accounting change                                    $----            ($0.02)           $----
                                                                       ---------         ---------        ---------
Net Income                                                                $0.55             $0.35            $0.54
                                                                       =========         =========        =========

</TABLE>


                                       4
<PAGE>   22


COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

<TABLE>
<CAPTION>
                                                                                  Year Ended December 31,
                                                                       --------------------------------------------
                                                                         2000             1999              1998
                                                                       ---------        ---------         ---------
                                                                                       (in thousands)
<S>                                                                    <C>              <C>               <C>
Net Income as Reported                                                    $1,424             $926            $1,104

Other Comprehensive Income
   Change in unrealized gain (loss) on securities
     available for sale, net of tax of $113 in 2000,
     ($107) in 1999, and $32 in 1998                                         215             (207)               51
   Reclassification of previously reported gain
     included in current year net income                                    ----             ----               (17)
                                                                       ---------        ---------         ---------
Comprehensive Income                                                      $1,639             $719            $1,138
                                                                       =========        =========         =========
</TABLE>


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



                                       5
<PAGE>   23


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, 1998              $ 6,325        $4,195        ($2,712)     $  ----                $ 29        $ 7,837

Stock split                              632          (633)          ----         ----                ----             (1)
Public stock offering                  4,025         4,427           ----         ----                ----          8,452
Stock offering costs                    ----          (677)          ----         ----                ----           (677)
Net income for 1998                     ----          ----          1,104         ----                ----          1,104
Other comprehensive income              ----          ----           ----         ----                  34             34
                                     -------        ------        -------      -------               -----        -------
Balance December 31, 1998            $10,982        $7,312        ($1,608)     $  ----                $ 63        $16,749


Stock split                            1,098        (1,099)          ----         ----                ----             (1)
Stock options exercised                   20            13           ----         ----                ----             33
Net income for 1999                     ----          ----            926         ----                ----            926
Establish ESOP plan                     ----          ----           ----         (500)               ----           (500)
Release of ESOP shares                  ----          ----           ----           29                ----             29
Other comprehensive loss                ----          ----           ----        -----                (207)          (207)
                                     -------        ------        -------      -------               -----        -------
Balance December 31, 1999            $12,100        $6,226        ($ 682)      ($ 471)               ($144)       $17,029
                                     =======        ======        =======      =======               =====        =======

Stock split                            1,209        (1,210)          ----         ----                ----             (1)
Net income for 2000                     ----          ----          1,424         ----                ----          1,424
Release of ESOP shares                  ----          ----           ----           50                ----             50
Other comprehensive income              ----          ----           ----        -----                 215            215
                                     -------        ------        -------       ------               -----        -------
Balance December 31, 2000            $13,309        $5,016         $  742      ($ 421)                $ 71        $18,717
                                     =======        ======        =======      =======               =====        =======

</TABLE>

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



                                       6
<PAGE>   24


COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOW

<TABLE>
<CAPTION>
                                                                                   Year Ended December 31,
                                                                            ------------------------------------
                                                                          2000             1999              1998
                                                                         -------          -------           -------
Operating Activities                                                                   (in thousands)
<S>                                                                      <C>              <C>               <C>
   Net income                                                            $ 1,424          $   926           $ 1,104
   Adjustments to reconcile net income to net
       cash flow from operating activities:
     Net accretion (amortization) of security discount                         6                4               (10)
     Net gain on calls of securities                                        ----              (11)              (22)
     Net gain on sale of mortgage loans                                     ----             ----               (61)
     Provision for credit losses                                             855              851               530
     Depreciation expense                                                    342              315               354
     Net gain on sales of property and equipment                            ----             ----                (4)
     Deferred income tax                                                      33               12              (774)
     Cumulative effect of accounting change/organizational costs            ----               57              ----
     ESOP compensation expense                                                37               29              ----
     Increase in accrued interest receivable                                (404)            (188)             (156)
     (Increase) decrease in other assets                                    (337)             (58)               32
     Increase in accrued interest payable                                    548              162                89
     (Decrease) increase in other liabilities                               (141)             250               250
                                                                         -------          -------           -------
   Net Cash Provided by Operating Activities                               2,363            2,349             1,332

Investing Activities
   Maturities, calls, and prepayments of securities available for sale     4,561            3,877             3,337
   Purchases of securities available for sale                            (13,189)          (3,983)           (7,135)
   Maturities, calls, and prepayments of investment securities             2,505            4,822             5,643
   Purchases of investment securities                                       ----             (165)             (282)
   Sales of residential mortgage loans                                      ----             ----             9,232
   Net increase in loans                                                 (15,079)         (39,162)          (58,440)
   Sales of property and equipment                                          ----             ----                15
   Purchases of property and equipment                                      (322)            (469)             (290)
                                                                         -------          -------           -------
   Net Cash Used in Investing Activities                                 (21,524)         (35,080)          (47,920)

Financing Activities
   Net increase in demand and savings deposits                             1,530           11,970            15,525
   Net increase in time deposits                                          21,763           23,724            43,272
   Net increase (decrease) in short term borrowings                        2,552           (1,886)            2,088
   Repayment of capitalized lease obligation                                 (13)            (150)             (138)
   Public stock offering                                                    ----             ----             7,775
   Fractional shares paid on stock split                                      (1)              (1)               (1)
   Stock options exercised                                                  ----               33              ----
   Payment of ESOP debt                                                      (50)             (29)             ----
                                                                         -------          -------           -------
   Net Cash Provided by Financing Activities                              25,781           33,661            68,521

   Increase in Cash and Cash Equivalents                                   6,620              930            21,933
   Cash and Cash Equivalents at the Beginning
     of the Period                                                        26,392           25,462             3,529
                                                                         -------          -------           -------
   Cash and Cash Equivalents at the End of the Period                    $33,012          $26,392           $25,462
                                                                         =======          =======           =======
Supplemental Disclosure of Cash Flow Information
   Interest paid                                                         $ 8,324          $ 6,172           $ 4,811
   Federal Taxes Paid                                                    $ 1,056          $   520           $  ----
                                                                         =======          =======           =======
</TABLE>

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



                                       7
<PAGE>   25


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2000 and 1999

(1)  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting and reporting policies of Community Central Bank Corporation (the
"Corporation") conform to generally accepted accounting principles. 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.

PRINCIPLES OF CONSOLIDATION: The consolidated financial statements include the
accounts of the Corporation and its wholly-owned subsidiary, Community Central
Bank (the "Bank"). All significant intercompany transactions are eliminated in
consolidation.

NATURE OF OPERATIONS: Community Central Bank Corporation is a bank holding
company that owns all outstanding capital stock of the Bank. The Corporation
opened for business in downtown Mount Clemens in October, 1996. The Bank which
is located in downtown Mt. Clemens serves businesses and consumers throughout
Macomb and St. Clair Counties with a full range of lending and deposit services.
In 1999, the Corporation opened a Loan Center in Port Huron, Michigan, serving
small to medium-sized business accounts in the St. Clair County area.

SECURITIES: On the balance sheet, investment securities (i.e., those which the
Corporation has the ability and positive intent to hold 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, net of
unearned income. 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.

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.

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.

STOCK SPLITS AND DIVIDENDS: The Corporation issued additional shares of common
stock to its shareholders for the purpose of effecting a reduction in the unit
price of the shares and obtaining a wider distribution and improved
marketability of the shares. The additional shares issued were not intended to
be a distribution of earnings.

                                        8
<PAGE>   26

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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. Outstanding shares are retroactively adjusted
for stock splits.

Weighted average shares reconciliation is as follows:

<TABLE>
<CAPTION>
                                                                              Year Ended December 31,
                                                                       2000             1999              1998
                                                                     --------         --------          --------
                                                                                (in thousands of shares)
<S>                                                                  <C>              <C>               <C>
Basic                                                                   2,604            2,645             2,017
Effect of stock options                                                  ----                5                13
                                                                     --------         --------          --------
Diluted                                                                 2,604            2,650             2,030
                                                                     ========         ========          ========
</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."

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, 2000, 1999 and 1998 consists solely of
unrealized gain and losses on available for sale securities, net of tax.

CHANGE IN ACCOUNTING PRINCIPLE: The American Institute of Certified Public
Accountants has issued Statement of Position (SOP) 98-5, "Reporting on the Costs
of Start-Up Activities," effective for fiscal years beginning after December 31,
1998. SOP 98-5 mandates that the costs of start-up activities and organization
costs be expensed as incurred. Previously, organization costs had been amortized
over five years. As a result, the Corporation charged to expense its remaining
unamortized organization costs in the first quarter of 1999. This resulted in an
after tax charge of $57,000. If SOP 98-5 had not been issued, these costs would
have been amortized ratably through the third quarter of 2001.

RECENT ACCOUNTING PRONOUNCEMENTS: In June 1998, Statement of Financial
Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging
Activities" (SFAS 133) was issued. SFAS 133 requires all derivative instruments
to be recorded on the balance sheet at estimated fair value. Changes in the fair
value of derivative instruments are to be recorded each period either in current
earnings or other comprehensive income, depending on whether a derivative is
designated part of a hedge transaction. SFAS 133 was adopted by the Corporation
in 2000, and did not have a material effect on the consolidated financial
position or results of operations. In November 2000, the FASB issued Statement
No. 140 "Accounting for Transfers and Servicing of Financial Assets and
Extinguishments of Liabilities" (FASB No. 140). This statement revises the
standards for accounting for securitizations and other transfers of financial
assets and collateral and requires certain disclosures. The impact of FASB No.
140 as of December 31, 2000 was not material to the consolidated financial
statements.

RECLASSIFICATIONS: Certain reclassifications have been made to the 1999
financial statements to conform with the classifications used in 2000.


                                       9
<PAGE>   27

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, 2000,
$29,000 of reserves were required.



                                       10
<PAGE>   28


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(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, 2000
                                               --------------------------------------------------------------
                                                 Amortized                  Unrealized                Fair
                                                   Cost               Gains            Losses         Value
                                               ------------        ------------      ----------     ---------
                                                                       (in thousands)
<S>                                            <C>                 <C>               <C>            <C>
Securities Available for Sale
   United States Government agencies               $14,255              $109           $ ----         $14,364
   Mortgage backed securities                        2,829                 7              (10)          2,826
   Collateralized mortgage obligations                 994              ----             ----             994
   Municipal securities                                321                 3             ----             324
                                               ------------        ----------        ---------     -----------
       Total Securities Available for Sale          18,399               119              (10)         18,508
                                               ------------        ----------        ---------     -----------

Investment Securities
   Mortgage backed securities                        1,579                 2               (2)          1,579
   Collateralized mortgage obligations                 109              ----             ----             109
   Other securities                                    446              ----             ----             446
                                               ------------        ----------        ---------     -----------
       Total Investment Securities                   2,134                 2               (2)          2,134
                                               ------------        ----------        ---------     -----------
       Total Securities                            $20,533              $121          ($   12)        $20,642
                                               ============        ==========        =========     ===========
</TABLE>

<TABLE>
<CAPTION>
                                                                       December 31, 2000
                                               --------------------------------------------------------------
                                                 Amortized                  Unrealized                Fair
                                                   Cost               Gains            Losses         Value
                                               ------------        ------------      ----------     ---------
                                                                       (in thousands)
<S>                                            <C>                 <C>               <C>            <C>
Securities Available for Sale
   United States Government agencies               $ 6,381            $ ----            ($101)        $ 6,280
   Mortgage backed securities                        3,383              ----             (118)          3,265
   Collateralized mortgage obligations                   1              ----             ----               1
                                               ------------        ----------        ---------     -----------
       Total Securities Available for Sale           9,765              ----             (219)          9,546
                                               ------------        ----------        ---------     -----------

Investment Securities
   United States Government agencies                 2,001              ----               (9)          1,992
   Mortgage backed securities                        1,758              ----              (37)          1,721
   Collateralized mortgage obligations                 433              ----               (2)            431
   Other securities                                    446              ----             ----             446
                                               ------------        ----------        ---------     -----------
       Total Investment Securities                   4,638              ----              (48)          4,590
                                               ------------        ----------        ---------     -----------
       Total Securities                            $14,403            $ ----            ($267)        $14,136
                                               ============        ==========        =========     ===========
</TABLE>



                                       11
<PAGE>   29


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


The amortized cost and estimated fair value of securities, generally by
contractual maturity at December 31, 2000, are as follows:

<TABLE>
<CAPTION>
                                          ---------------------------               --------------------------
                                             Securities Available                           Investment
                                                   for Sale                                 Securities
                                          ---------------------------               --------------------------
                                          Amortized           Fair                  Amortized          Fair
                                             Cost             Value                   Cost             Value
                                          ---------         ---------               ---------        ---------
                                                                      (in thousands)
<S>                                       <C>               <C>                     <C>              <C>
Within one year                             $ 4,889           $ 4,895                  $  109           $  109
After one year but within five years         12,516            12,620                   1,579            1,579
After five years but within ten years           603               604                    ----             ----
After ten years                                 391               389                     446              446
                                          ---------         ---------               ---------        ---------
                                            $18,399           $18,508                  $2,134           $2,134
                                          =========         =========               =========        =========
</TABLE>

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. Securities which
are not due at a single maturity date, such as mortgage backed securities, have
been allocated to maturity groupings based on average expected life. Average
expected life is based on the best available prepayment estimates as of year
end.

Investment securities of $6,500,000 were pledged to secure short term
borrowings.



                                       12
<PAGE>   30


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 $4,115,000 and $6,183,000
at December 31, 2000 and 1999, respectively. The total unused commitments
related to these loans were $5,115,000 at December 31, 2000. During 2000, new
loans and advances were $540,000, while repayments totalled $2,608,000.

The Bank grants loans to customers who reside primarily in Macomb and St. Clair
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 $20,673,000 in
outstanding loans at December 31, 2000, to commercial borrowers in the real
estate rental and property management industry.


(5)  ALLOWANCE FOR CREDIT LOSSES

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

<TABLE>
<CAPTION>
                                                      2000              1999
                                                   -----------       -----------
                                                              (in thousands)

<S>                                                <C>               <C>
         Balance, beginning of the period               $1,927            $1,330
         Provision                                         855               851
         Charge-offs                                      (156)             (272)
         Recoveries                                         28                18
                                                   -----------       -----------

         Balance, end of year                           $2,654            $1,927
                                                   ===========       ===========

         As a percentage of total loans                   1.70%             1.36%
                                                   ===========       ===========
</TABLE>


                                       13






<PAGE>   31


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


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, 2000 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 all interest
and principal will not 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 $662,000 in loans classified
as impaired at December 31, 2000 and $468,000 at December 31, 1999.

A summary of nonperforming assets is as follows:

<TABLE>
<CAPTION>
                                                      2000              1999
                                                   -----------       -----------
                                                             (in thousands)
<S>                                                <C>               <C>
         Impaired loans:
           Nonaccrual                                     $662              $468
                                                   -----------       -----------
         Total impaired loans                              662               468
         Other real estate                                ----              ----
                                                   -----------       -----------

         Total nonperforming assets                       $662              $468
                                                   ===========       ===========
         Impaired loans as a percentage of
           total loans                                    0.42%            0.33%
                                                   ===========       ===========
</TABLE>




A summary of total loans past due 90-days and still accruing interest is as
follows:

<TABLE>
<CAPTION>
                                                      2000                1999
                                                   -----------         -----------
                                                             (in thousands)
<S>                                                <C>                 <C>
         Commercial                                     $ ----              $ ----
         Residential real estate                            56                 162
         Installment                                        96                  16
                                                   -----------         -----------
           Total loans past due 90 days
              or more and still accruing interest       $  152              $  178
                                                   ===========         ===========
</TABLE>



                                       14
<PAGE>   32


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>
                                                                 2000              1999
                                                              -----------       -----------
                                                                       (in thousands)
<S>                                                           <C>               <C>
         Buildings (under capitalized lease)                       $1,000           $1,000
         Leasehold improvements                                     1,145            1,034
         Furniture and equipment                                    1,189              990
         Vehicles                                                      55               55
                                                              -----------      -----------
                                                                    3,389            3,079

         Less accumulated depreciation and amortization             1,516            1,186
                                                              -----------      -----------
         Net property and equipment                                $1,873           $1,893
                                                              ===========      ===========
</TABLE>


(7)  TIME DEPOSITS

The total amount of jumbo certificates of deposit ($100,000 and over) as of
December 31, 2000, was $77,887,000.

As of December 31, 2000, scheduled maturities of all time deposits are as
follows:

<TABLE>
<CAPTION>
         Year ending December 31,                          (in thousands)

<S>                                                         <C>
         2001                                                $ 89,183
         2002                                                  37,362
         2003                                                     229
         2004                                                  11,058
         2005                                                      68
         Subsequent years                                        ----
                                                            ---------
         Total time deposits                                 $137,900
                                                            =========
</TABLE>


                                       15
<PAGE>   33


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(8)  SHORT TERM BORROWINGS

Short term borrowings at December 31, 2000, consist of securities sold with an
agreement to repurchase. Repurchase agreements generally mature within one day.
Following are details of short term borrowings for the dates or periods
indicated:

<TABLE>
<CAPTION>
                                                                    2000             1999
                                                                   -------          -------
                                                                       (in thousands)
<S>                                                                <C>              <C>
         Amount outstanding at end of year                         $4,157           $1,605
         Weighted average interest rate on ending balance            3.91%            4.19%

         Average amount outstanding during the year                 3,348            2,357
         Weighted average interest rate during the year              4.09%            4.29%

         Maximum amount outstanding at any month end
           during the year                                          5,541            3,195

</TABLE>

(9)  LEASES

In 1996, the Corporation entered into a 15 year lease commitment for its office
with an entity owned by two Directors. The lease has been treated as a
capitalized lease obligation, and was recorded at the net present value of the
future minimum lease payments of $1,000,000, at an interest rate of
approximately 13%. Future minimum lease payments as of December 31, 2000,
consist of the following:

<TABLE>
<CAPTION>
         Year ending December 31,                          (in thousands)

<S>                                                         <C>
         2001                                                  $  154
         2002                                                     173
         2003                                                     173
         2004                                                     173
         2005                                                     173
         Subsequent years                                       1,133
                                                            ---------
         Total minimum lease payments                           1,979
         Amount representing interest                             967
                                                            ---------
         Present value of minimum lease payments               $1,012
                                                            =========
</TABLE>

Operating expense includes rentals on a leased facility and certain equipment in
the amount of $135,000 for 2000 and $65,000 for 1999, 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, 2000:

<TABLE>
<CAPTION>
         Year ending December 31,                          (in thousands)

<S>                                                        <C>
         2001                                                  $  142
         2002                                                     113
         2003                                                      85
         2004                                                      60
         2005                                                      41
                                                            ---------
         Total minimum rental payments                         $  441
                                                            =========
</TABLE>


                                       16
<PAGE>   34


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(10)  ESOP NOTE PAYABLE

In 1999, the ESOP entered into a 10 year note payable with an outside financial
institution as a part of the Bank's employee stock ownership plan ("ESOP"). The
terms of the note include a variable rate payable, due in monthly installments
to 2009, floating at prime rate which was 9.50% at December 31, 2000. The
Corporation has guaranteed the loan, with the ESOP stock pledged as collateral.
In addition, the Bank has issued a letter of credit supporting the note payable.
Since ESOP debt is guaranteed by the Corporation, it is reflected on the
consolidated balance sheet as a liability with a related amount shown as a
reduction in the stockholders' equity.

As of December 31, 2000, scheduled maturities of the ESOP note payable are as
follows:

<TABLE>
<CAPTION>
                                                           (in thousands)

<S>                                                        <C>
         2001                                                    $ 50
         2002                                                      50
         2003                                                      50
         2004                                                      50
         2005                                                      50
         Subsequent years                                         171
                                                            ---------
                                                                 $421
                                                            =========
</TABLE>



                                       17
<PAGE>   35


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(11)  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,
2000, that the Corporation and the Bank meet all capital adequacy requirements
to which they are subject. As of December 31, 2000, 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.

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>
                                                         2000               1999            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                                 $18,640   11.74%    $17,166    12.30%            4%                   NA
     Bank only                                     17,305   10.90%     15,786    11.32%            4%                    6%

Total capital to risk-weighted assets
     Consolidated                                  20,634   12.99%     18,912    13.55%            8%                   NA
     Bank only                                     19,297   12.16%     17,532    12.57%            8%                   10%

Primary capital to assets
     Consolidated                                  21,294    9.94%     18,749    10.10%            5.5%                 NA

Total capital to assets
     Consolidated                                  21,294    9.94%     18,749    10.10%            6%                   NA

Tier I capital to quarterly average assets
     Consolidated                                  18,640    8.93%     17,166     9.46%            4%                   NA
     Bank only                                     17,305    8.29%     15,786     8.70%            4%                    5%

</TABLE>

The Corporation declared an 11 for 10 stock split on March 14, 2000. The split
was paid on April 21, 2000, to stockholders of record on April 6, 2000. As a
result, approximately $1,200,000 was transferred from additional paid-in capital
to common stock. The effects of the stock split have been retroactively applied
to applicable figures in this report. The Corporation also declared and paid an
11 for 10 stock split in the second quarter of 1999.



                                       18

<PAGE>   36


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(12)  BENEFIT PLANS

DEFINED CONTRIBUTION PENSION 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 $31,000, $33,000 and $32,000 were paid or accrued for the
periods ended December 31, 2000, 1999 and 1998.

EMPLOYEE STOCK OWNERSHIP PLAN - During the second quarter of 1999, the
Corporation established an employee stock ownership plan ("ESOP") for the
benefit of eligible employees. As of December 31, 2000 the plan had acquired a
total of 65,450 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 the Corporation's participant's accounts
is directly proportional to the ratio of the principal reductions to the total
original principal amount. 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 $37,000 for 2000. This represented 10,363 shares that were
committed-to-be released, with 55,087 shares remaining unearned as of December
31, 2000. The value of unearned shares as of December 31, 2000, was $296,000.

The ESOP borrowed $500,000 from a bank to purchase shares of the Corporation
stock (see Note 10). The ESOP intends to repay the loan (plus interest) using
Company contributions.

Information regarding the ESOP transactions for the year ended December 31, 2000
is as follows:

<TABLE>
<CAPTION>
                                                       (in thousands)
<S>                                                    <C>
           Amounts paid by ESOP for:
                  Debt repayment                            50
                  Interest                                  42

         Amounts received from the Company as:
                  Contributions                             72
</TABLE>

STOCK OPTION PLANS - The Corporation has four stock-based compensation plans.
Under the 1996 and 2000 Employee Stock Option Plans ("Employee Plans"), the
Corporation was 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. As of December
31, 2000 options for 66,000 shares were available for grant under the 2000
Employee Stock Option Plan. Under the 1996 Stock Option Plan for Nonemployee
Directors 48,315 shares were granted and none are available for grant. Under the
1999 Stock Option Plan for Directors, the Corporation was authorized to grant
options for up to 66,000 shares of common stock. Under all plans, only a portion
of the options granted are immediately exercisable. The remainder become
exercisable on specified dates in the future. 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 1996 and 1999 directors plans, the option's maximum term is
seven years.


                                       19
<PAGE>   37



COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


The Corporation has estimated fair value of the options issued in 2000, 1999 and
1998 at $2.84, $4.32 and $5.17 per share, respectively, using the Black-Scholes
option pricing model. 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,
                                                                       2000             1999              1998
                                                                     --------         --------          --------
                                                                          (in thousands, except per share data)

<S>                                          <C>                     <C>             <C>              <C>
     Net income                                As reported             $1,424              $926           $1,104
                                               Pro forma               $1,373              $866           $1,068
                                                                      ========          ========         ========

     Basic earnings per share                  As reported              $0.55             $0.35            $0.55
                                               Pro forma                $0.53             $0.33            $0.53
                                                                      ========          ========         ========

     Diluted earnings per share                As reported              $0.55             $0.35            $0.54
                                               Pro forma                $0.53             $0.33            $0.53
                                                                      ========          ========         ========
</TABLE>

                                       20

<PAGE>   38


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


Following is a summary of the Corporation's three stock option plans for the
periods indicated:

<TABLE>
<CAPTION>


                                                                     Year Ended December 31,
                                               2000                           1999                        1998
                                    -------------------------     --------------------------     ---------------------------
                                                 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     132,428         $7.76          84,919         $7.18           76,134         $6.95
Granted                               37,331          5.59          68,200          8.59            8,785          9.13
Exercised                               ----           ----         (4,392)         6.83             ----          ----
Expired                              (18,871)         7.44         (16,299)         8.47             ----          ----
                                    ---------    ------------     ---------    ------------     ----------      ----------
Outstanding, end of year             150,888         $7.27         132,428         $7.76           84,919         $7.18
                                    =========    ============     =========    ============     ===========     ==========
</TABLE>


The following table shows summary information about stock options outstanding at
December 31, 2000:


<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>
         $6.83          61,493          3.1 years                $6.83            61,493                $6.83
          9.30           1,464          4.7 years                 9.30             1,464                 9.30
          7.16           4,400          5.8 years                 7.16             1,100                 7.16
      8.52 - 8.64       56,100          5.9 years                 8.61            15,840                 8.61
          5.23           8,560          9.0 years                 5.23             3,300                 5.23
          5.50          18,871          9.8 years                 5.50             5,095                 5.50
                       -------                                   -----            ------                -----
                       150,888                                   $7.27            88,292                $7.06
                       =======                                   =====            ======                =====

</TABLE>



                                       21

<PAGE>   39


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(13) 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,
                                                              ------------------------------------------
                                                                2000              1999             1998
                                                              -------           -------          -------
                                                                             (in thousands)
<S>                                                        <C>               <C>               <C>
         Advertising and public relations                      $  444            $  413           $  329
         Data processing                                          412               312              280
         Professional and regulatory fees                         425               289              204
         Credit card processing                                   232               191              107
         Printing and supplies                                    113               113               90
         Telephone                                                 71                59               59
         Loan closing                                              77                99               55
         Other insurance                                           69                41               45
         Organizational cost                                     ----              ----               32
         Deposit insurance                                         59                15               10
         Single business tax                                       95               126             ----
         Other                                                    407               347              103
                                                              -------           -------          -------
           Total other operating expense                       $2,404            $2,005           $1,314
                                                              =======           =======          =======
</TABLE>

                                       22

<PAGE>   40


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(14) TAXES ON INCOME

The Corporation and the Bank file a consolidated federal income tax return.
Before 1998, no net deferred tax asset had been provided for the future benefit
of the net operating loss carryforward generated since inception, because the
Corporation did not have a history of earnings. 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. During the third and
fourth quarter of 1999, the Corporation paid estimated federal income taxes
having utilized the net operating loss carryforward available to the Corporation
as the result of ongoing earnings. The income tax expense (benefit) for the
years ending December 31, consists of the following:

<TABLE>
<CAPTION>


                                                                2000              1999             1998
                                                              -------           -------          -------
                                                                             (in thousands)

<S>                                                         <C>              <C>             <C>
         Current expense                                        $785             $523            $ ----
         Deferred (benefit) expense                               33               11              (774)
                                                              -------           -------         --------
         Total income expense (benefit)                         $818             $534           ($  774)
                                                              =======           =======         ========
</TABLE>


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

<TABLE>
<CAPTION>

                                                                2000              1999
                                                              -------           -------
                                                                    (in thousands)
<S>                                                          <C>              <C>
Deferred tax assets
     Provision for loan losses                                  $   804             $606
     Depreciation                                                    75               65
     Capital lease                                                  154              129
     Deferred loan fees                                              27               42
     Unrealized loss on securities available for sale              ----               75
     Other                                                           18               56
                                                                -------          -------
                                                                  1,078              973

     Valuation allowance for deferred tax assets                   ----             ----

Deferred tax liabilities
     Original issue discount                                        (60)             (78)
     Unrealized gain on securities available for sale               (38)            ----
     Mortgage servicing rights                                      (22)             (28)
     Other                                                          (41)             (30)
                                                                -------          -------
Net deferred tax asset                                          $   917             $837
                                                                =======          =======
</TABLE>

                                       23

<PAGE>   41


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,
                                                                --------------------------------------------
                                                                   2000             1999              1998
                                                                ---------        ---------         ---------
                                                                               (in thousands)

<S>                                                            <C>              <C>               <C>
Provision at statutory federal income tax rate                      787              497               112
Valuation allowance                                                ----             ----              (906)
Nondeductible expenditures                                           33               37                20
Other, net                                                           (2)            ----              ----
                                                                ---------        ---------         ---------
Provision at effective federal income tax rate                      818              534              (774)
                                                                =========        =========         =========
</TABLE>


                                       24

<PAGE>   42


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(15)  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.

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.

SHORT TERM BORROWINGS: 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.

COMMITMENTS: Commitments to extend credit and standby letters of credit are not
recorded on the balance sheet. 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 are the fees that would be charged for similar
arrangements with comparable risk and maturity. The recorded book value of
deferred fee income approximates fair value.

The use of different market assumptions and/or estimation methods may have a
material effect on the estimated fair value amounts.


                                       25
<PAGE>   43


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>
                                                              2000                                1999
                                                     ----------------------             -----------------------
                                                     Carrying     Estimated             Carrying      Estimated
                                                     Amount      Fair Value             Amount       Fair Value
                                                     ----------------------             -----------------------
                                                                             (in thousands)
<S>                                                  <C>       <C>                    <C>           <C>
Financial Assets
   Cash and cash equivalents                        $ 33,012      $ 33,012               $ 26,293      $ 26,392
   Securities                                         20,642        20,642                 14,184        14,136
   Loans, net of allowance                           153,609       155,564                139,385       139,182
   Accrued interest receivable                         1,247         1,247                    843           843

Financial Liabilities
   Demand and savings deposits                        48,239        48,239                 46,709        46,709
   Time deposits                                     137,900       139,026                116,137       116,168
   Short term borrowings                               4,157         4,157                  1,605         1,605
   Accrued interest payable                              990           990                    442           442
</TABLE>


                                       26

<PAGE>   44


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(16) 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>

                                                                   2000             1999
                                                                  -----            -----
                                                                      (in thousands)
<S>                                                              <C>              <C>
Unused home equity lines of credit                              $ 2,882          $ 2,762
Unused credit card lines                                          1,518            1,475
Unused portion of construction lines of credit                    6,287            8,948
Unused portion of all other credit lines                         21,528           23,700
Loans committed but not yet closed                                4,495           14,715
Standby letters of credit                                         1,137              957
                                                                -------          -------
Total outstanding commitments                                   $37,847          $52,557
                                                                =======          =======
</TABLE>



(17)  RESTRICTIONS ON DIVIDENDS

Dividends paid by the Corporation would be provided primarily by dividends from
the Bank. However, certain restrictions exist regarding the ability of the Bank
to transfer funds to the Corporation in the form of cash dividends, loans, or
advances. Applicable law and regulations limit the amount and payment of
dividends by the Bank.


                                       27
<PAGE>   45


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(18)  PARENT-ONLY FINANCIAL STATEMENTS

The following condensed financial information presents the financial condition
of 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
at cost, less the undistributed loss 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,
                                                                --------------------------
                                                                  2000             1999
                                                                ---------        ---------
Assets                                                                (in thousands)
<S>                                                              <C>              <C>
Cash                                                            $ 1,225          $ 1,281
Investment in subsidiary                                         17,382           15,642
Other assets                                                        112              110
                                                                -------          -------
   Total Assets                                                 $18,719          $17,033
                                                                =======          =======


Liabilities and Stockholders' Equity

Due to subsidiary                                               $     2          $     4
                                                                -------          -------
   Total Liabilities                                                  2                4

Common stock                                                     13,309           12,100
Additional paid-in capital                                        5,016            6,226
Accumulated surplus (deficit)                                       742             (682)
Unearned employee benefit                                          (421)            (471)
Accumulated other comprehensive income                               71             (144)
                                                                -------          -------
   Total Stockholders' Equity                                    18,717           17,029
                                                                -------          -------
   Total Liabilities and Stockholders' Equity                   $18,719          $17,033
                                                                =======          =======
</TABLE>


                                       28

<PAGE>   46


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


PARENT-ONLY STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>

                                                                           Year Ended December 31,
                                                                --------------------------------------------
                                                                   2000             1999              1998
                                                                ---------        ---------         ---------
                                                                               (in thousands)
<S>                                                             <C>             <C>               <C>
Operating Income
   Interest income                                               $   49             $ 60            $   57
                                                                ---------        ---------         ---------
   Total Operating Income                                            49               60                57

Operating Expense
   Other expense                                                    128               20                56
                                                                ---------        ---------         ---------
   Total Operating Expense                                          128               20                56

   Income Before Taxes
     and Share in Undistributed
     Income of Subsidiary                                           (79)              40                 1

Income tax (benefit) expense                                        (28)              14               (82)
                                                                ---------        ---------         ---------
   Income Before Share
     in Undistributed Income of Subsidiary and
     Cumulative Effect of Change in Accounting
     Principle                                                      (51)              26                83

Cumulative effect of changes in Accounting Principle               ----              (57)             ----

Share of undistributed income of subsidiary                       1,475              957             1,021
                                                                ---------        ---------         ---------
   Net Income                                                    $1,424             $926            $1,104
                                                                =========        =========         =========
</TABLE>


                                       29

<PAGE>   47


COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


PARENT-ONLY STATEMENT OF CASH FLOW

<TABLE>
<CAPTION>


                                                                         Year Ended December 31,
                                                                --------------------------------------------
                                                                  2000             1999              1998
                                                                ---------        ---------         ---------
                                                                               (in thousands)
<S>                                                              <C>                <C>             <C>
Operating Activities
   Net income                                                    $1,424          $   926            $1,104
   Adjustments to reconcile net income to
       net cash flow from operating activities
     Undistributed (income) loss of subsidiary                   (1,475)            (957)           (1,021)
     Decrease (increase) in other assets                             (2)              58               (49)
     (Decrease) increase in other liabilities                        (2)              (3)                7
                                                                ---------        ---------         ---------
   Net Cash (Used in) Provided by Operating Activities              (55)              24                41

Investing Activities
   Capital contribution to subsidiary                              ----           (2,000)           (5,000)
                                                                ---------        ---------         ---------
   Net Cash Used in Investing Activities                           ----           (2,000)           (5,000)

Financing Activities
   Public stock offering                                           ----             ----             7,775
   Fractional shares paid on stock split                             (1)              (1)               (1)
   Stock options exercised                                         ----               33              ----
                                                                ---------        ---------         ---------
   Net Cash (Used in) Provided by Financing Activities               (1)              32             7,774
                                                                ---------        ---------         ---------
Increase (Decrease) in Cash                                         (56)          (1,944)            2,815
Cash at the Beginning of the Period                               1,281            3,225               410
                                                                ---------        ---------         ---------
Cash at the End of the Period                                    $1,225          $ 1,281            $3,225
                                                                =========        =========         =========
</TABLE>


                                       30

<PAGE>   48


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 wholly owned subsidiary, Community Central Bank, at December 31, 2000 to
December 31, 1999 and the results of operations for the years ended December 31,
2000, 1999 and 1998. 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 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 15.2%, or $27.9 million, to
$211.6 million at December 31, 2000, compared with $183.7 million at December
31, 1999.

During the year ended December 31, 2000, total deposits rose by $23.3 million,
while total loans increased by $15.0 million. Loan growth was funded through
deposit growth, coupled with maturing investment proceeds. Commercial loans grew
by $16.4 million, while residential mortgage loans decreased by $1.5 million.

The allowance for credit losses as a percentage of total gross loans was 1.70%
as of December 31, 2000. The provision for credit losses in 2000 was comparable
to 1999, at $855,000 and $851,000, respectively. The provision in 2000 was made
in accordance with assumptions incorporated into the loan loss reserve analysis.
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 2000 comprised $156,000, with
recoveries representing $28,000. Total net charge-offs represented 0.08 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, 2000, there was $662,000 of loans placed in nonaccrual status.
Commercial loans and lease financing receivables are to be 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, and in the process of
collection.


                                       31
<PAGE>   49


COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS


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 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.

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, however, 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

During the year ended December 31, 2000, total deposits increased by 14.3%, or
$23.3 million, to $186.1 million. Short term borrowings increased by $2.6
million, to $4.2 million at December 31, 2000.

CAPITAL

Shareholders' equity was $18,717,000 at December 31, 2000, a $1,688,000 increase
from December 31, 1999. The increase resulted from net income of $1,424,000,
coupled with an equity increase reflecting unrealized gains of the available for
sale security portfolio of $215,000. An additional increase of $50,000 was
recorded to reflect the reduction in the employee stock ownership plan ("ESOP")
loan. The ESOP was funded with an outside loan that has been recorded as if it
was long-term debt of the Corporation. The repayment of debt is recorded as a
reduction in the long-term liability and an increase in equity.




                                       32

<PAGE>   50


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 2000 net interest income was $7.8 million. The Corporation's net
interest margin for the year was 4.12%.

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
                                                       December 31, 2000 vs. 1999
                                                 -----------------------------------
                                                                Increase (Decrease)
                                                                Due to Changes In
                                                              ----------------------

                                                   Total        Volume        Rate
                                                                and Both
                                                 ---------    ----------    ---------
                                                            (in thousands)
<S>                                              <C>          <C>           <C>
Earning Assets - Interest Income
   Federal funds sold                              $   248      $   (24)       $  272
   Securities                                          (34)         (70)           36
   Loans                                             3,918        3,205           713
                                                 ---------    ---------     ---------

     Total                                           4,132        3,111         1,021
                                                 ---------    ---------     ---------

Deposits and Borrowed Funds - Interest Expense
   NOW and money market accounts                     (220)          (72)         (148)
   Savings deposits                                    75            77            (2)
   Time deposits                                    2,492         1,671           821
   Short term borrowings                               36            41            (5)
   Capitalized lease obligation and ESOP loan          16            18            (2)
                                                ---------     ---------     ---------

     Total                                          2,399         1,735           664
                                                ---------     ---------     ---------
Net Interest Income                                $1,733       $ 1,376        $  357
                                                =========     =========     =========
</TABLE>


For the year ended December 31, 2000, net interest income increased by 28.5%, or
$1.3 million over 1999. This was due to a significant rise in the volume of
interest earning assets, especially in loans. On the liability side, interest
bearing liability volumes increased as the Corporation continued to build a
deposit base. The net interest margin improved for the year to 4.12%, compared
with 3.88% for 1999. The margin improvement was the result of an emphasis in
balance sheet mix, whereby increases in relatively higher yielding variable rate
loans were offset by increases in core deposit products. Interest rates on
individual asset and liability categories were generally higher than in the
previous year.


                                       33
<PAGE>   51


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. Interest income on loans includes loan fees.

<TABLE>
<CAPTION>


                                                                           Year Ended December 31,
                                                               2000                                    1999
                                                ---------------------------------------------------------------------------
                                                                          Average                                Average
                                                              Interest       Rate                    Interest       Rate
                                               Average         Income/    Earned/        Average      Income/     Earned
                                               Balance         Expense       Paid        Balance      Expense       Paid
                                                ----------------------------------       --------------------------------
                                                                              (in thousands)
<S>                                           <C>            <C>        <C>            <C>           <C>         <C>
Assets
   Federal funds sold                          $  19,892      $  1,269     6.38%        $ 20,267       $1,021      5.04%
   Securities                                     15,477           978     6.32           16,582        1,012      6.10
   Loans                                         153,965        14,433     9.37          119,773       10,515      8.78
                                               ---------      --------    -------       --------      -------     ------
   Total Earning Assets/
     Total Interest Income                       189,334        16,680     8.81%         156,622       12,548      8.01%
                                                              --------    -------                     -------     ------
   Cash and due from banks                         5,223                                   4,839
   All other assets                                1,680                                   1,779
                                               ---------                                 -------
   Total Assets                                $ 196,237                                $163,240
                                               =========                                ========
Liabilities and Equity
     NOW and money market accounts             $  17,381           407     2.34%        $ 20,435          627      3.07%
     Savings deposits                              8,337           248     2.97            5,733          173      3.02
     Time deposits                               126,866         7,901     6.23          100,028        5,408      5.41
     Short term borrowings                         3,347           137     4.09            2,357          101      4.29
     Capitalized lease obligation                  1,456           179    12.29            1,308          163     12.46
                                               ---------      --------    -------       --------      -------     ------

     Total Interest Bearing Liabilities/
       Total Interest Expense                    157,387         8,872     5.64%         129,861        6,472      4.98%
                                                              --------    -------                     -------     ------
   Noninterest bearing
     demand deposits                              20,003                                  15,869
   All other liabilities                             896                                     528
   Stockholders' equity                           17,951                                  16,982
                                               ---------                                --------
     Total Liabilities and Stockholders'
       Equity                                  $ 196,237                                $163,240
                                               =========                                ========
   Net Interest Income                                        $  7,808                                 $6,076
                                                              ========                                =======
   Net Interest Margin (Net Interest
     Income/Total Earning Assets)                                          4.12%                                   3.88%
                                                                          =======                                =======
</TABLE>


                                       34
<PAGE>   52


COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS


NONINTEREST INCOME

Noninterest income decreased by 13.6%, to $564,000 for 2000. In 1999, security
gains of $11,000 and mortgage servicing rights income of $84,000 were recognized
and represented nonrecurring sources of noninterest income. Without these
nonrecurring sources of income in 1999, noninterest income in 2000 would have
increased $6,000, or 1% compared to 1999. The largest components of noninterest
income were overdraft income and fees from processing merchant credit card
deposits.

NONINTEREST EXPENSE

Noninterest expense increased over 1999 by 21.8%, to $5.3 million in 2000. This
was primarily the result of growth of the Corporation, and the accompanying rise
in payroll and other operating expense.

LIQUIDITY AND ASSET/LIABILITY MANAGEMENT

The liquidity of a bank allows it to provide funds 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. Bank liquidity depends upon the mix of the
banking institution's potential sources and uses of funds. For the Corporation,
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 two facilities totaling $5.0
million, unsecured federal funds borrowing facilities, and a $20.0 million
secured line of credit with the FHLB. The Corporation'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.

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.

                                       35

<PAGE>   53


COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS


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.

The following table shows the maturity and repricing distribution of the
Corporation's interest earning assets and interest bearing liabilities as of
December 31, 2000, the interest rate sensitivity gap (i.e., interest rate
sensitive assets less interest rate sensitive liabilities), cumulative interest
rate sensitivity gap, the interest rate sensitivity gap ratio (i.e., interest
rate sensitive assets divided by interest rate sensitive liabilities), and the
cumulative interest rate sensitivity gap ratio. For the purposes of the
following table, an asset or liability is considered rate sensitive within a
period when it matures or could be repriced within such period, generally
according to its contractual terms. Decay assumptions have been factored into
non-maturing deposit products.

<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             $ 27,600         $    ----       $     ----           $  ----    $  27,600
   Securities, at amortized cost        15             4,982           14,095             1,441       20,533
   Loans                            87,020             5,136           54,953             9,154      156,263
                                  --------         ---------       ----------           -------    ---------
     Total                         114,635            10,118           69,048            10,595    $ 204,396
                                                                                                   =========

Interest bearing liabilities
   NOW and money market accounts     2,290             6,930           11,268              ----      $20,488
   Savings deposits                    701             2,192            5,875              ----        8,768
   Jumbo time deposits              51,163            18,620            8,104              ----       77,887
   Time deposits < $100,000         22,793            14,302           22,918              ----       60,013
   Short term borrowings             4,157              ----             ----              ----        4,157
   Capitalized lease obligation        424                16              192               801        1,433
                                  --------         ---------       ----------           -------    ---------
     Total                          81,528            42,060           48,357               801    $ 172,746
                                  --------         ---------       ----------           -------    =========

Rate sensitivity gap              $ 33,107          (31,942)           20,691             9,794

Cumulative rate sensitivity gap                    $   1,165       $   21,856           $31,650

Rate sensitivity gap ratio            1.41              0.24             1.43             13.23

Cumulative rate sensitivity gap ratio                   1.01             1.13              1.18
</TABLE>


                                       36

<PAGE>   54


COMMUNITY CENTRAL BANK CORPORATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS


The table above indicates the time periods in which interest earning assets and
interest bearing liabilities will mature or may be repriced, generally in
accordance with their contractual terms. However, this table does not
necessarily indicate the impact of general interest rate movements on the
Corporation's net interest yield because the repricing of various categories of
assets and liabilities is discretionary and is subject to competitive and other
pressures. As a result, various assets and liabilities indicated as repricing
within the same period may in fact reprice at different times and at different
rate levels.

Based on the table above, the Corporation is considered to be asset sensitive in
a three-month maturity range and evenly matched in a one-year maturity range as
of December 31, 2000. In a falling rate environment, the Corporation might not
be able to decrease prices on interest bearing liabilities as fast as the
decrease in rates on interest earning assets.

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
Corporation'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, 2000, the simulation model projects net interest income would
decrease by 5.6% of the base net interest income, assuming an instantaneous
parallel shift downward in the yield curve by 200 basis points. Conversely, if
the yield curve were to increase by 200 basis points, the model projects net
interest income would increase by 5.2%.


                                       37

<PAGE>   55



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 OTC
Bulletin Board (OTCBB) under the ticker symbol "CCBD." At December 31, 2000,
there were approximately 300 record holders of the Corporation's common stock.

The following table shows the high and low bid prices by quarter during the past
two years. The quotations reflect bid prices as reported by the OTCBB, and do
not include retail mark-up, mark-down or dealer commission.

<TABLE>
<CAPTION>

                                                 2000 Bid Prices
                                                 ---------------
                                                                                  Cash
                                                                                Dividends
                           Quarter          High              Low               Declared
                           --------------------------------------------------------------
<S>                       <C>              <C>               <C>               <C>
                           Fourth             $5.38             $5.19             $ ----
                           Third               5.81              4.88               ----
                           Second              5.88              4.50               ----
                           First               5.45              4.86               ----
                           --------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>

                                                 1999 Bid Prices
                                                 ---------------
                                                                                  Cash
                                                                                Dividends
                           Quarter          High              Low               Declared
                           --------------------------------------------------------------
<S>                       <C>              <C>               <C>               <C>
                           Fourth             $7.73             $4.55             $ ----
                           Third               7.95              6.82               ----
                           Second              9.55              7.50               ----
                           First               9.09              7.85               ----
                           --------------------------------------------------------------
</TABLE>



Price data has been retroactively adjusted for the 11 for 10 stock split in 2000
and 1999.

                                       38

<PAGE>   56


COMMUNITY CENTRAL BANK CORPORATION
STOCKHOLDER INFORMATION


MARKET MAKERS

At December 31, 2000, the following firms were registered with the OTCBB as
market makers in Community Central Bank Corporation common stock:

Raymond James & Associates, Inc.                  Herzog, Heine & Geduld, Inc.
880 Carillon Park                                 2 Penn Center
St. Petersburg, FL  33716                         Philadelphia, PA  19102

McConnell Budd & Downes, Inc.                     Baird, Patrick & Co., Inc.
365 South Street                                  20 Exchange Place
Morristown, NJ  07960                             New York, NY  10005-3265

Hill, Thompson, Magid & Co., Inc.                 Monroe Securities, Inc.
15 Exchange Place                                 47 State Street
Jersey City, NJ  07302-3912                       Rochester, NY  14614

Howe Barnes Investment, Inc.
135 South LaSalle St.
Chicago, IL  60603-4398

STOCK REGISTRAR AND TRANSFER AGENT

State Street Bank & Trust Company
c/o Boston EquiServe
PO Box 43011
Providence, RI  02940-3011
Shareholder Inquiries 1-800-426-5523

INDEPENDENT AUDITOR

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

LEGAL COUNSEL

Dickinson Wright PLLC
500 Woodward Avenue, Suite 4000
Detroit, MI  48226-3425

INFORMATION

News media representatives and those seeking additional information about the
Corporation should contact Ray T. Colonius, Corporate Treasurer, at (810)
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 will be held at 9:00 A.M., on Tuesday, April 17,
2001, at Fern Hill Country Club, 17600 Clinton River, Clinton Township, MI
48036.

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<PAGE>   57

                                    CCB Logo

                                                                     CCBCM-AR-01
<PAGE>   58
                       COMMUNITY CENTRAL BANK CORPORATION
                              100 North Main Street
                             Mount Clemens, MI 48043

                 ANNUAL MEETING OF STOCKHOLDERS - APRIL 17, 2001
               PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned hereby appoints Harold W. Allmacher and Michael D. Schwartz, or
either of them, with full power of substitution in each, as proxies to vote all
of the shares of common stock of Community Central Bank Corporation which the
undersigned is entitled to vote at the Annual Meeting of Stockholders of
Community Central Bank Corporation to be held at Fern Hill Country Club, 17600
Clinton River, Clinton Township, Michigan 48036, on Tuesday, April 17, 2001, at
9:00 a.m., and at any adjournment or adjournments thereof.

THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED AS DIRECTED HEREIN BY THE
UNDERSIGNED STOCKHOLDER(S). IF NO DIRECTION IS GIVEN, THIS PROXY WILL BE VOTED
"FOR" ALL NOMINEES.

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                    PLEASE VOTE, DATE, AND SIGN ON REVERSE, AND RETURN PROMPTLY
USING THE ENCLOSED ENVELOPE.
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     Please sign exactly as your name(s) appear(s) hereon. Joint owners
     should each sign personally. Trustees and other fiduciaries should
     indicate the capacity in which they sign. If a corporation or
     partnership, the signature should be that of an authorized person who
     should state his or her title.


HAS YOUR ADDRESS CHANGED?                 DO YOU HAVE ANY COMMENTS?

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<TABLE>
<S>                                             <C>                             <C>             <C>    <C>

      PLEASE MARK VOTES
 [X]  AS IN THIS EXAMPLE

   ========================================      1.   Election of Directors.          For All    With   For All
      COMMUNITY CENTRAL BANK CORPORATION                                            Nominees     -hold   Except
   ========================================           (01) SALVATORE COTTONE           |  |       |  |    |  |
                                                      (02) BOBBY L. HILL               |  |       |  |    |  |
                                                      (03) DEAN S. PETITPREN           |  |       |  |    |  |
                                                      (04) RONALD R. REED              |  |       |  |    |  |



                                                      NOTE: If you do not wish your shares voted "For" a particular
                                                      nominee, mark the "For All Except" box and strike a line
                                                      through the name(s) of the nominee(s). Your shares will be
                                                      voted for the remaining nominee(s).

RECORD DATE SHARES:                              2.   In their discretion, the proxies are authorized to vote upon
                                                      any other business that may properly come before the meeting,
                                                      or at any adjournment(s) thereof.




Please be sure to sign and date this proxy       Mark box at right if an address change or comment has
card.                                            been noted on the reverse side of this card.                |  |


           Date  ________________________



_____________________   ____________________
Stockholder sign here   Co-owner sign here


DETACH CARD                                                                                               DETACH CARD
</TABLE>