<PAGE>




                                                                      EXHIBIT 13


                   2001 STOCKHOLDER REPORT OF THE CORPORATION


<PAGE>

                   [COMMUNITY CENTRAL BANK CORPORATION LOGO]

                                    [PHOTO]

                   NOTICE OF ANNUAL MEETING, PROXY STATEMENT
                                       &
                            2001 STOCKHOLDER REPORT
<PAGE>


                             COMMUNITY CENTRAL BANK
                                  CORPORATION





                          Independent Auditor's Report

                                       and

                               Stockholder Report




                                December 31, 2001


<PAGE>

INDEPENDENT AUDITOR'S REPORT




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

We have audited the accompanying consolidated balance sheet of Community Central
Bank Corporation as of December 31, 2001 and 2000, and the related consolidated
statements of income, comprehensive income, changes in stockholders' equity, and
cash flow for the years ended December 31, 2001, 2000 and 1999. 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 audit.

We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform our audit to obtain reasonable assurance about whether the 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, 2001, and 2000, and the results of its
income and cash flow for the years ended December 31, 2001, 2000 and 1999, in
conformity with accounting principles generally accepted in the United States of
America.



S/ PLANTE & MORAN, LLP

January 24, 2002
Auburn Hills, Michigan

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED BALANCE SHEET

<TABLE>
<CAPTION>
                                                                             December 31,
                                                                     ------------------------------
                                                                        2001                2000
Assets                                                               -----------          ---------
                                                                            (in thousands)
<S>                                                                 <C>                 <C>
Cash and Cash Equivalents
   Cash and due from banks (Note 2)                                 $   6,892           $   5,412
   Federal funds sold                                                  21,200              27,600
                                                                    ---------           ---------
   Total Cash and Cash Equivalents                                     28,092              33,012

Securities available for sale, at fair value (Note 3)                  44,328              18,508
Investment securities, at amortized cost (Note 3)                       1,207               1,688
FHLB stock                                                                875                 446
Residential mortgage loans held for sale                                5,010                --

Loans (Note 4)
   Residential mortgage loans                                          21,200              28,421
   Commercial loans                                                   128,174             121,953
   Installment loans                                                    4,837               5,889
                                                                    ---------           ---------
   Total Loans                                                        154,211             156,263
Allowance for credit losses (Note 5)                                   (2,930)             (2,654)
                                                                    ---------           ---------
   Net Loans                                                          151,281             153,609

Net property and equipment (Note 6)                                     1,777               1,873
Accrued interest receivable                                             1,248               1,247
Other assets                                                            1,218               1,256
                                                                    ---------           ---------
   Total Assets                                                     $ 235,036           $ 211,639
                                                                    =========           =========
</TABLE>


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


                                       1

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED BALANCE SHEET

<TABLE>
<CAPTION>
                                                                             December 31,
                                                                     ------------------------------
                                                                        2001                2000
Liabilities                                                          -----------          ---------
                                                                  (in thousands, except share data)
Deposits
<S>                                                               <C>                     <C>
   Noninterest bearing demand deposits                                 $  27,188          $  18,983
   NOW and money market accounts                                          19,185             20,488
   Savings deposits                                                        7,572              8,768
   Time deposits (Note 7)                                                138,369            137,900
                                                                       ---------          ---------
   Total deposits                                                        192,314            186,139

Repurchase agreements  (Note 8)                                            6,739              4,157
Federal Home Loan Bank advances (Note 9)                                  13,400             ----
Accrued interest payable                                                     438                990
Other liabilities                                                            304                203
Capitalized lease obligation (Note 10)                                       993              1,012
ESOP note payable (Note 11)                                                  371                421
                                                                       ---------          ---------
   Total Liabilities                                                     214,559            192,922

Stockholders' Equity (Note 12)

   Common stock     ($5 stated value; 9,000,000 shares authorized,
     2,661,922 shares issued and outstanding at 12-31-2001
     and 12-31-2000)                                                      13,309             13,309
   Additional paid-in capital                                              5,009              5,016
   Accumulated surplus                                                     2,368                742
   Unearned employee benefit                                                (371)              (421)
   Accumulated other comprehensive income                                    162                 71
                                                                       ---------          ---------
   Total Stockholders' Equity                                             20,477             18,717
                                                                       ---------          ---------
   Total Liabilities and Stockholders' Equity                          $ 235,036          $ 211,639
                                                                       =========          =========
</TABLE>


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


                                       2

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF INCOME

<TABLE>
<CAPTION>
                                                                                   Year Ended December 31,
                                                                    ------------------------------------------------
                                                                      2001                2000                1999
                                                                    --------            --------            --------
                                                                             (in thousands, except per share data)
<S>                                                                 <C>                 <C>                 <C>
Interest Income
   Loans (including fees)                                           $ 12,633            $ 14,433            $ 10,514
   Securities                                                          1,927                 978               1,013
   Federal funds sold                                                    974               1,269               1,021
                                                                    --------            --------            --------
   Total Interest Income                                              15,534              16,680              12,548

Interest Expense
   Deposits                                                            7,380               8,556               6,208
   Repurchase agreements                                                 178                 137                 101
   Federal Home Loan Bank advances                                       294                --                  --
   Capitalized lease obligation                                          135                 137                 139
   ESOP loan interest expense                                             28                  42                  24
                                                                    --------            --------            --------
   Total Interest Expense                                              8,015               8,872               6,472
                                                                    --------            --------            --------
   Net Interest Income                                                 7,519               7,808               6,076
Provision for credit losses (Note 5)                                     475                 855                 851
                                                                    --------            --------            --------
   Net Interest Income after Provision for Credit Losses               7,044               6,953               5,225

Noninterest Income
   Deposit service charges                                               258                 252                 270
   Net realized security gain                                            285                --                    11
   Mortgage banking income                                               918                   5                 108
   Other income                                                          314                 307                 264
                                                                    --------            --------            --------
   Total Noninterest Income                                            1,775                 564                 653

Noninterest Expense
   Salaries, benefits and payroll taxes (Note 13)                      3,217               2,143               1,755
   Net occupancy expense                                                 869                 728                 572
   Other operating expense (Note 14)                                   2,275               2,404               2,005
                                                                    --------            --------            --------
   Total Noninterest Expense                                           6,361               5,275               4,332
                                                                    --------            --------            --------
Income Before Taxes and Cumulative Effect of
   Change in Accounting Principle                                      2,458               2,242               1,546
Provision for Income Tax Expense (Note 15)                               832                 818                 563
                                                                    --------            --------            --------
Income Before Cumulative Effect of Change in
   Accounting Principle                                                1,626               1,424                 983
Cumulative Effect of Change in Accounting Principle,
   Net of Tax of $29                                                    --                  --                   (57)
                                                                    --------            --------            --------
Net Income                                                          $  1,626            $  1,424            $    926
                                                                    ========            ========            ========
</TABLE>



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


                                       3

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF INCOME
(continued)

<TABLE>
<CAPTION>
                                                                                   Year Ended December 31,
                                                                       ---------------------------------------
                                                                         2001                2000              1999
                                                                       ---------          ---------         ---------
                                                                             (in thousands, except per share data)

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

Income before cumulative effect of accounting
   change                                                              $    0.62          $    0.55         $    0.37

Cumulative effect of accounting change                                 $    ----          $    ----            ($0.02)
                                                                       ---------          ---------         ---------
Net Income                                                             $    0.62          $    0.55         $    0.35
                                                                       =========          =========         =========

Diluted earnings per share

Income before cumulative effect of accounting
   change                                                              $    0.62          $    0.55         $    0.37

Cumulative effect of accounting change                                 $    ----          $    ----            ($0.02)
                                                                       ---------          ---------         ---------
Net Income                                                             $    0.62          $    0.55         $    0.35
                                                                       =========          =========         =========
</TABLE>



                                       4

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

<TABLE>
<CAPTION>
                                                                                    Year Ended December 31,
                                                                     ---------------------------------------
                                                                         2001                2000              1999
                                                                       ---------          ---------         ---------
                                                                                       (in thousands)
<S>                                                                    <C>                <C>               <C>
Net Income as Reported                                                 $   1,626          $   1,424         $     926

Other Comprehensive Income (Loss)
   Change in unrealized gain (loss) on securities
     available for sale, net of tax of $47 in 2001,
     $113 in 2000, and ($107) in 1999                                         91                215              (207)
                                                                       ---------          ---------         ---------
Comprehensive Income                                                   $   1,717          $   1,639         $     719
                                                                       =========          =========         =========
</TABLE>


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





                                       5

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY


<TABLE>
<CAPTION>
                                                 Additional                    Unearned       Accumulated Other
                                      Common      Paid-in       Retained       Employee         Comprehensive    Total
                                      Stock       Capital       Earnings       Benefits         Income (Loss)    Equity
                                     --------    ---------      --------      ----------       -------------    --------
                                                                      (in thousands)

<S>                                  <C>         <C>            <C>           <C>             <C>               <C>
Balance January 1, 1999              $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
                                     =======       =======      =======       ======               =====        =======


Net income for 2001                     ----          ----        1,626         ----                ----          1,626
Release of ESOP shares                  ----            (7)        ----           50                ----             43
Other comprehensive income              ----          ----         ----        -----                  91             91
                                     -------       -------      -------       ------               -----        -------
Balance December 31, 2001            $13,309       $ 5,009      $ 2,368        ($371)              $ 162        $20,477
                                     =======       =======      =======       ======               =====        =======
</TABLE>


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



                                       6

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOW

<TABLE>
<CAPTION>
                                                                                     Year Ended December 31,
                                                                             ----------------------------------------
                                                                               2001            2000            1999
                                                                             --------        --------        --------
<S>                                                                          <C>             <C>             <C>
Operating Activities                                                                   (in thousands)
   Net income                                                                $  1,626        $  1,424        $    926
   Adjustments to reconcile net income to net
       cash flow from operating activities:
     Net accretion of security discount                                           115               6               4
     Net gain on calls of securities                                             (285)           ----             (11)
     Provision for credit losses                                                  475             855             851
     Depreciation expense                                                         367             342             315
     Deferred income tax expense (benefit)                                       (232)             33              12
     Cumulative effect of accounting change/organizational costs                 ----            ----              57
     ESOP compensation expense                                                     43              37              29
     Increase in accrued interest receivable                                       (1)           (404)           (188)
     Decrease (increase) in other assets                                          143            (337)            (58)
     (Decrease) increase in accrued interest payable                             (552)            548             162
     Increase (decrease) in other liabilities                                     181            (141)            250
     Increase in loans held for sale                                           (5,010)           ----            ----
                                                                             --------        --------        --------
   Net Cash (Used In) Provided by Operating Activities                         (3,130)          2,363           2,349

Investing Activities
   Maturities, calls, and prepayments of securities available for sale         31,959           4,561           3,877
   Purchases of securities available for sale                                 (57,471)        (13,189)         (3,983)
   Maturities, calls, and prepayments of investment securities                    481           2,505           4,822
   Purchases of investment securities                                            (429)           ----            (165)
   Decrease (increase) in loans                                                 1,853         (15,079)        (39,162)
   Purchases of property and equipment                                           (271)           (322)           (469)
                                                                             --------        --------        --------
   Net Cash Used in Investing Activities                                      (23,878)        (21,524)        (35,080)

Financing Activities
   Net increase in demand and savings deposits                                  5,706           1,530          11,970
   Net increase in time deposits                                                  469          21,763          23,724
   Net increase (decrease) in short term borrowings                             2,582           2,552          (1,886)
   Net increase in FHLB advances                                               13,400            ----            ----
   Repayment of capitalized lease obligation                                      (19)            (13)           (150)
   Fractional shares paid on stock split                                         ----              (1)             (1)
   Stock options exercised                                                       ----            ----              33
   Payment of ESOP debt                                                           (50)            (50)            (29)
                                                                             --------        --------        --------
   Net Cash Provided by Financing Activities                                   22,088          25,781          33,661

   Decrease (increase) in Cash and Cash Equivalents                            (4,920)          6,620             930
   Cash and Cash Equivalents at the Beginning
     of the Period                                                             33,012          26,392          25,462
                                                                             --------        --------        --------
   Cash and Cash Equivalents at the End of the Period                        $ 28,092        $ 33,012        $ 26,392
                                                                             ========        ========        ========
Supplemental Disclosure of Cash Flow Information
   Interest paid                                                             $  8,567        $  8,324        $  6,172
   Federal Taxes Paid                                                        $    935        $  1,056        $    520
                                                                             ========        ========        ========
</TABLE>


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


                                       7

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2001 and 2000

(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. Material estimates that are particularly
susceptible to significant change in the near term relate to the determination
of the allowance for loan losses, and the valuation of foreclosed real estate,
deferred tax assets and trading securities.

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. Community Central Mortgage Company, LLC ("Mortgage Company")
commenced operations on July 9, 2001. The ownership structure of the Mortgage
Company consists of two members, Community Central Bank and Community Central
Bank Corporation, owning 99% and 1% of the Mortgage Company, respectively.

NATURE OF OPERATIONS: Community Central Bank Corporation is 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.
The Corporation operates a Loan Center in Port Huron, Michigan, serving small to
medium-sized businesses in the St. Clair County area, and owns a mortgage
subsidiary, Community Central Mortgage Company, LLC.

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.

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

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

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.


                                       8

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


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.

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,
                                                                       2001             2000              1999
                                                                     --------         --------          --------
                                                                                (in thousands of shares)
<S>                                                                  <C>              <C>               <C>
Basic                                                                   2,610            2,604             2,645
Effect of stock options                                                     3             ----                 5
                                                                     --------         --------          --------
Diluted                                                                 2,613            2,604             2,650
                                                                     ========         ========          ========
</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, 2001, 2000 and 1999 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.



                                       9

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


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, 2001 was not material to the 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, 2001,
$350,000 of reserves were required.







                                       10

<PAGE>

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, 2001
                                               ----------------------------------------------------
                                               Amortized             Unrealized              Fair
                                                  Cost          Gains          Losses        Value
                                               ----------     ---------      ---------     ---------
                                                               (in thousands)
<S>                                            <C>            <C>            <C>           <C>
Securities Available for Sale

   United States Government agencies             $22,089       $   111       ($   29)       $22,171
   Mortgage backed securities                      2,440            33            (2)         2,471
   Collateralized mortgage obligations            13,874           176           (17)        14,033
   Municipal securities                            5,678            26           (51)         5,653
                                                 -------       -------       -------        -------
       Total Securities Available for Sale        44,081           346           (99)        44,328
                                                 -------       -------       -------        -------

Investment Securities
   Mortgage backed securities                      1,207            26          ----          1,233
                                                 -------       -------       -------        -------
       Total Investment Securities                 1,207            26          ----          1,233
                                                 -------       -------       -------        -------
       Total Securities                          $45,288       $   372       ($   99)       $45,561
                                                 =======       =======       =======        =======
</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             $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
                                                 -------       -------       -------        -------
       Total Investment Securities                 1,688             2            (2)         1,688
                                                 -------       -------       -------        -------
       Total Securities                          $20,087       $   121       ($   12)       $20,196
                                                 =======       =======       =======        =======
</TABLE>



                                       11

<PAGE>

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, 2001, 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                                $ 9,883          $ 9,886          $  ----          $  ----
After one year but within five years            21,581           21,736            1,207            1,233
After five years but within ten years            7,103            7,137             ----             ----
After ten years                                  5,514            5,569             ----             ----
                                               -------          -------          -------          -------
                                               $44,081          $44,328          $ 1,207          $ 1,233
                                               =======          =======          =======          =======
</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 $26,706,000 were pledged to secure short term
repurchase agreements and partially secure Federal Home Loan Bank advances.




                                       12

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(4)  LOANS

Certain Directors and Executive Officers of the Corporation and their associates
are loan customers of the Bank. Such loans were made in the ordinary course of
business and do not involve more than a normal risk of collectibility. The
outstanding loan balance for these persons amounted to $4,041,000 and $4,115,000
at December 31, 2001 and 2000, respectively. The total unused commitments
related to these loans were $3,105,000 at December 31, 2001. During 2001, new
loans and advances were $140,000, while repayments totalled $214,000.

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 $31,065,000 in
outstanding loans at December 31, 2001, 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>
                                                    2001                2000
                                                   -------            -------
                                                         (in thousands)
<S>                                                <C>                <C>
         Balance, beginning of the period          $ 2,654            $ 1,927
         Provision                                     475                855
         Charge-offs                                  (261)              (156)
         Recoveries                                     62                 28
                                                   -------            -------

         Balance, end of year                      $ 2,930            $ 2,654
                                                   =======            =======

         As a percentage of total loans               1.90%              1.70%
                                                   =======            =======
</TABLE>




                                       13

<PAGE>

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, 2001 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 $2,572,000 in loans
classified as impaired at December 31, 2001 and $662,000 at December 31, 2000.

A summary of nonperforming assets is as follows:

<TABLE>
<CAPTION>
                                                     2001             2000
                                                   -------           ------
                                                           (in thousands)
<S>                                                <C>               <C>
         Impaired loans:
           Nonaccrual                               $2,572           $  662
                                                    ------           ------
         Total impaired loans                        2,572              662
         Other real estate                            ----             ----
                                                    ------           ------

         Total nonperforming assets                 $2,572           $  662
                                                    ======           ======
         Impaired loans as a percentage of
           total loans                                1.67%            0.42%
                                                    ======           ======
</TABLE>


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


<TABLE>
<CAPTION>
                                                         2001               2000
                                                       --------          ---------
                                                             (in thousands)
<S>                                                    <C>               <C>
         Commercial                                     $ ----            $ ----
         Residential real estate                          ----                56
         Installment                                        10                96
                                                        ------            ------
           Total loans past due 90 days
              or more and still accruing interest       $   10            $  152
                                                        ======            ======
</TABLE>


                                       14

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(6)  PROPERTY AND EQUIPMENT

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

<TABLE>
<CAPTION>
                                                                 2001                  2000
                                                              ---------              --------
                                                                       (in thousands)
<S>                                                           <C>                    <C>
Buildings (under capitalized lease)                            $1,000                 $1,000
Leasehold improvements                                          1,145                  1,145
Furniture and equipment                                         1,447                  1,189
Vehicles                                                           51                     55

                                                               ------                 ------
                                                                3,643                  3,389

Less accumulated depreciation and amortization                  1,866                  1,516

                                                               ------                 ------
Net property and equipment                                     $1,777                 $1,873
                                                               ======                 ======
</TABLE>

(7)  TIME DEPOSITS

The total amount of jumbo certificates of deposit ($100,000 and over) as of
December 31, 2001, was $84,741,000.

As of December 31, 2001, scheduled maturities of all time deposits are as
follows:

<TABLE>
<CAPTION>
         Year ending December 31,                          (in thousands)
<S>                                                        <C>
         2002                                                $ 98,261
         2003                                                  23,022
         2004                                                  14,963
         2005                                                   1,593
         2006                                                     530
         Subsequent years                                        ----
                                                             --------
         Total time deposits                                 $138,369
                                                             ========
</TABLE>



                                       15

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(8)  SHORT TERM BORROWINGS

Short term borrowings at December 31, 2001, 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>
                                                                    2001             2000
                                                                  --------         --------
                                                                       (in thousands)
<S>                                                               <C>              <C>
         Amount outstanding at end of year                         $6,739           $4,157
         Weighted average interest rate on ending balance            1.75%            3.91%

         Average amount outstanding during the year                $6,238           $3,348
         Weighted average interest rate during the year              2.86%            4.09%

         Maximum amount outstanding at any month end
           during the year                                         $9,160           $5,541
</TABLE>

(9)  FHLB ADVANCES

In June of 2001, the Corporation started to borrow long-term advances from the
FHLB to fund fixed rate instruments and to minimize the interest rate risk
associated with certain fixed rate commercial mortgage loans and investment
securities. These advances are secured under a blanket security agreement by
first mortgage loans and the pledging of certain securities.

FHLB advances outstanding at December 31, 2001 were as follows:

<TABLE>
<CAPTION>
                                                                       December 31, 2001
                                                                       ----------------
                                                               (in thousands, except percentages)
                                                                   Ending       Average rate
                                                                  Balance      at end of period
                                                                  -------      ----------------
<S>                                                            <C>             <C>
         Short-term FHLB advances                                 $ 1,000            3.15%
         Long-term FHLB advances                                   12,400            5.22%

                                                                  -------           ------
                                                                  $13,400            5.06%
</TABLE>

Long-term advances comprised nine advances with maturities ranging from June
2003 to August 2011.

The principal maturities of long-term advances outstanding at December 31, 2001
are as follows:

<TABLE>
<CAPTION>
         Year ending December 31,                       (in thousands)
<S>                                                     <C>
         2002                                              $  ----
         2003                                                5,000
         2004                                                 ----
         2005                                                 ----
         2006                                                1,000
         Subsequent years                                    6,400
                                                           -------
         Total                                             $12,400
                                                           =======
</TABLE>


                                       16

<PAGE>

(10)  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, 2001,
consist of the following:

<TABLE>
<CAPTION>
         Year ending December 31,                          (in thousands)
<S>                                                        <C>
         2002                                                     173
         2003                                                     173
         2004                                                     173
         2005                                                     173
         2006                                                     173
         Subsequent years                                         964
                                                               ------
         Total minimum lease payments                           1,829
         Amount representing interest                             836
                                                               ------
         Present value of minimum lease payments               $  993
                                                               ======
</TABLE>

Operating expense includes rentals on a leased facility and certain equipment in
the amount of $173,000 for 2001 and $135,000 for 2000, 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, 2001:

<TABLE>
<CAPTION>
         Year ending December 31,                          (in thousands)
<S>                                                        <C>
         2002                                                     163
         2003                                                     130
         2004                                                     104
         2005                                                      77
         2006                                                    ----
                                                               ------
         Total minimum rental payments                         $  474
                                                               ======
</TABLE>



                                       17

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(11)  ESOP NOTE PAYABLE

In 1999, the ESOP entered into a 10 year note payable with an outside financial
institution as a part of the Bank's employee stock ownership plan ("ESOP"). The
terms of the note include a variable rate payable, due in monthly installments
to 2009, floating at prime rate which was 4.75% at December 31, 2001. 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, 2001, scheduled maturities of the ESOP note payable are as
follows:

<TABLE>
<CAPTION>
                                                           (in thousands)
<S>                                                        <C>
         2002                                                      50
         2003                                                      50
         2004                                                      50
         2005                                                      50
         2006                                                      50
         Subsequent years                                         121

                                                                -----
                                                                $ 371
                                                                =====
</TABLE>


                                       18


<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(12)  STOCKHOLDERS' EQUITY

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

Quantitative measures established by regulation require the Corporation and the
Bank to maintain minimum amounts and ratios of Tier I capital and total capital
(as defined in the regulations) to risk-weighted assets. The Corporation and the
Bank are also subject to a minimum Tier I leverage ratio expressed as a
percentage of quarterly average assets (as defined). The Corporation is further
subject to leverage ratios consisting of primary capital and total capital as a
percentage of assets at period end. Management believes, as of December 31,
2001, that the Corporation and the Bank meet all capital adequacy requirements
to which they are subject. As of December 31, 2001, 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>
                                                      2001                2000             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                              $20,309   12.14%    $18,640    11.74%            4%                   NA
     Bank only                                  19,338   11.56%     17,305    10.90%            4%                    6%

Total capital to risk-weighted assets
     Consolidated                               22,410   13.40%     20,634    12.99%            8%                   NA
     Bank only                                  21,439   12.82%     19,297    12.16%            8%                   10%

Primary capital to assets
     Consolidated                               23,239    9.89%     21,294     9.94%            5.5%                 NA

Total capital to assets
     Consolidated                               23,239    9.89%     21,294     9.94%            6%                   NA

Tier I capital to quarterly average assets
     Consolidated                               20,309    8.97%     18,640     8.93%            4%                   NA
     Bank only                                  19,338    8.54%     17,305     8.29%            4%                    5%
</TABLE>


                                       19

<PAGE>

COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(13)  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 $36,000, $31,000 and $33,000 were paid or accrued for the
periods ended December 31, 2001, 2000 and 1999.

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, 2001 the plan had acquired a
total of 65,297 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 $43,000 for 2001. This represented 16,977 shares that were
committed-to-be released, with 48,320 shares remaining unearned as of December
31, 2001. The value of unearned shares as of December 31, 2001, was $411,000.

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

Information regarding the ESOP transactions for the year ended December 31, 2001
is as follows:

<TABLE>
<CAPTION>
                                                       (in thousands)
<S>                                                    <C>
           Amounts paid by ESOP for:
                  Debt repayment                           $50
                  Interest                                 $28

         Amounts received from the Company as:
                  Contributions                            $88
</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, 2001 options for 24,471 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 at the time of grant. 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.



                                       20
<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


The Corporation has estimated fair value of the options issued in 2001, 2000 and
1999 at $3.29, $2.84 and $4.32 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,
                                                                       2001             2000              1999
                                                                     --------         --------         --------
                                                                        (in thousands, except per share data)

<S>                                                                  <C>              <C>              <C>
     Net income                                As reported             $1,626           $1,424             $926
                                               Pro forma               $1,558           $1,373             $866
                                                                     ========         ========         ========

     Basic earnings per share                  As reported             $ 0.62           $ 0.55            $0.35
                                               Pro forma               $ 0.60           $ 0.53            $0.33
                                                                     ========         ========         ========

     Diluted earnings per share                As reported             $ 0.62           $ 0.55            $0.35
                                               Pro forma               $ 0.60           $ 0.53            $0.33
                                                                     ========         ========         ========
</TABLE>



                                       21

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


Following is a summary of the Corporation's four stock option plans for the
periods indicated:
<TABLE>
<CAPTION>
                                                                     Year Ended December 31,
                                               2001                           2000                        1999
                                    --------------------------     ---------------------------     --------------------------
                                                  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     150,888         $7.27          132,428        $7.76              84,919         $7.18
Granted                               59,300          5.91           37,331         5.59              68,200          8.59
Exercised                               ----          ----             ----         ----              (4,392)         6.83
Expired                              (35,057)         6.98          (18,871)        7.44             (16,299)         8.47
                                    ---------    ------------      ---------    -----------         ---------       ----------
Outstanding, end of year             175,131         $6.80          150,888        $7.27             132,428         $7.76
                                    ========     ============      ========     ===========         =========       ==========
</TABLE>


The following table shows summary information about stock options outstanding at
December 31, 2001:

<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          48,316          2.1 years                  $6.83          48,316                $6.83
          9.30           1,464          3.7 years                   9.30           1,464                 9.30
          7.16           4,400          4.8 years                   7.16           2,200                 7.16
      8.52 -- 8.64      41,250          4.7 years                   8.62          20,020                 8.62
          5.23           3,730          8.0 years                   5.23           2,200                 5.23
          5.50          16,671          8.8 years                   5.50           7,989                 5.50
      5.73 -- 6.05      59,300          9.1 years                   5.91          16,825                 5.91
                       -------                                     -----          ------                -----
                       175,131                                     $6.80          99,014                $6.94
                       =======                                     =====          ======                =====
</TABLE>





                                       22
<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(14) 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,
                                                              ------------------------------------------
                                                               2001              2000             1999
                                                              -------           -------          -------
                                                                             (in thousands)

<S>                                                           <C>               <C>              <C>
       Advertising and public relations                       $  292             $  444          $  413
       Data processing                                           403                412             312
       Professional and regulatory fees                          165                214             160
       Legal fees                                                209                211             129
       Director fees                                             176                160              96
       Credit card processing                                    228                232             191
       Printing and supplies                                     117                113             113
       Telephone                                                  93                 71              59
       Loan closing                                               27                 77              99
       Other insurance                                            51                 69              41
       Deposit insurance                                          58                 59              15
       Single business tax                                        99                 95             126
       Other                                                     357                247             251
                                                              ------             ------          ------
         Total other operating expense                        $2,275             $2,404          $2,005
                                                              ======             ======          ======
</TABLE>


                                       23

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(15) 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>
                                                                2001              2000             1999
                                                              -------           -------          -------
                                                                             (in thousands)
<S>                                                           <C>               <C>              <C>
       Current expense                                         $ 1,064          $   785           $   523
       Deferred (benefit) expense                                 (232)              33                11
                                                               -------          -------           -------
       Total income expense                                    $   832          $   818           $   534
                                                               =======          =======           =======
</TABLE>

The temporary differences and carryforwards which comprise deferred tax assets
and liabilities at December 31, are as follows:
<TABLE>
<CAPTION>
                                                                2001              2000
                                                              -------           -------
                                                                     (in thousands)
<S>                                                           <C>               <C>
Deferred tax assets
     Provision for loan losses                                $   962            $   804
     Depreciation                                                  73                 75
     Capital lease                                                172                154
     Deferred loan fees                                          ----                 27
     Other                                                         72                 18
                                                              -------            -------
                                                                1,279              1,078

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

Deferred tax liabilities
     Original issue discount                                      (43)               (60)
     Unrealized gain on securities available for sale             (84)               (38)
     Mortgage servicing rights                                    (15)               (22)
     Other                                                        (34)               (41)
                                                              -------            -------
Net deferred tax asset                                        $ 1,103            $   917
                                                              =======            =======
</TABLE>


                                       24

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


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

<TABLE>
<CAPTION>
                                                                         Year Ended December 31,
                                                              ----------------------------------------------
                                                                  2001             2000             1999
                                                              -----------      -----------       -----------
                                                                               (in thousands)
<S>                                                           <C>              <C>               <C>
Provision at statutory federal income tax rate                     836              787               497
Nondeductible expenditures                                          16               33                37
Tax exempt municipal interest                                      (43)            ----              ----
Other, net                                                          23               (2)             ----
                                                               ---------        ---------         ---------
Provision at effective federal income tax rate                     832              818               534
                                                               =========        =========         =========
</TABLE>



                                       25

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(16) ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS

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

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

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

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

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

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

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

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

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

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.



                                       26

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


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

<TABLE>
<CAPTION>
                                                                 2001                             2000
                                                     -----------------------------     -----------------------------
                                                     Carrying          Estimated        Carrying        Estimated
                                                     Amount            Fair Value       Amount          Fair Value
                                                     -----------------------------     -----------------------------
                                                                             (in thousands)
<S>                                                  <C>               <C>              <C>             <C>
Financial Assets
   Cash and cash equivalents                           $28,092           $28,092          $33,012           $33,012
   Securities                                           45,535            45,561           20,196            20,196
   FHLB stock                                              875               875              446               446
   Residential mortgages held for sale                   5,010             5,010             ----              ----
   Loans, net of allowance                             151,281           157,730          153,609           155,564
   Accrued interest receivable                           1,248             1,248            1,247             1,247

Financial Liabilities
   Demand and savings deposits                          53,945            53,945           48,239            48,239
   Time deposits                                       138,369           139,669          137,900           139,026
   Repurchase agreements                                 6,739             6,739            4,157             4,157
   Federal Home Loan Bank advances                      13,400            13,919             ----              ----
   Accrued interest payable                                438               438              990               990
</TABLE>




                                       27

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(17) 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>
                                                                   2001             2000
                                                                  ------           ------
                                                                      (in thousands)

<S>                                                              <C>               <C>
Unused home equity lines of credit                               $ 2,647           $ 2,882
Unused credit card lines                                           1,764             1,518
Unused portion of construction lines of credit                     9,712             6,287
Unused portion of all other credit lines                          26,504            21,528
Loans committed but not yet closed                                14,216             4,495
Standby letters of credit                                          1,771             1,137
                                                                 -------           -------
Total outstanding commitments                                    $56,614           $37,847
                                                                 =======           =======
</TABLE>


(18) 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.



                                       28

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


(19) 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, plus the undistributed surplus of the Bank since it was formed. The
Parent recognizes undistributed income of the Bank as noninterest income, and
undistributed losses as noninterest expense. The Parent-only financial
information should be read in conjunction with the Corporation's consolidated
financial statements.


PARENT-ONLY BALANCE SHEET
<TABLE>
<CAPTION>
                                                                    December 31,
                                                              ---------------------------
                                                                 2001             2000
                                                              ----------        ---------
Assets                                                                (in thousands)
<S>                                                           <C>               <C>
Cash                                                           $    916          $  1,225
Investment in subsidiary                                         19,505            17,382
Other assets                                                        137               112
                                                               --------          --------
   Total Assets                                                $ 20,558          $ 18,719
                                                               ========          ========


Liabilities and Stockholders' Equity

Due to subsidiary                                              $     81          $      2
                                                               --------          --------
   Total Liabilities                                                 81                 2

Common stock                                                     13,309            13,309
Additional paid-in capital                                        5,009             5,016
Accumulated surplus                                               2,368               742
Unearned employee benefit                                          (371)             (421)
Accumulated other comprehensive income                              162                71
                                                               --------          --------
   Total Stockholders' Equity                                    20,477            18,717
                                                               --------          --------
   Total Liabilities and Stockholders' Equity                  $ 20,558          $ 18,719
                                                               ========          ========
</TABLE>


                                       29

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


PARENT-ONLY STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>
                                                                         Year Ended December 31,
                                                                --------------------------------------------
                                                                   2001            2000             1999
                                                                ---------        ---------       -----------
                                                                               (in thousands)

<S>                                                             <C>              <C>             <C>
Operating Income
   Interest income                                                $    34         $    49          $    60
                                                                  -------         -------          -------
   Total Operating Income                                              34              49               60

Operating Expense
   Other expense                                                      253             128               20
                                                                  -------         -------          -------
   Total Operating Expense                                            253             128               20

   Income Before Taxes
     and Share in Undistributed
     Income of Subsidiary                                            (219)            (79)              40

Income tax (benefit) expense                                          (75)            (28)              14
                                                                  -------         -------          -------
   Income Before Share
     in Undistributed Income of Subsidiary and
     Cumulative Effect of Change in Accounting
     Principle                                                       (144)            (51)              26

Cumulative effect of changes in Accounting Principle                 ----            ----              (57)
Dividend from subsidiary                                              300            ----             ----

Share of undistributed income of subsidiary                         1,470           1,475              957
                                                                  -------         -------          -------
   Net Income                                                     $ 1,626         $ 1,424          $   926
                                                                  =======         =======          =======
</TABLE>




                                       30


<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


PARENT-ONLY STATEMENT OF CASH FLOW
<TABLE>
<CAPTION>
                                                                         Year Ended December 31,
                                                              ----------------------------------------------
                                                                 2001             2000              1999
                                                              ---------        ---------         -----------
                                                                               (in thousands)
<S>                                                           <C>              <C>               <C>
Operating Activities
   Net income                                                   $ 1,626          $ 1,424            $   926
   Adjustments to reconcile net income to
       net cash flow from operating activities
     Undistributed income of subsidiary                          (1,470)          (1,475)              (957)
     Increase in other assets                                       (25)              (2)                58
     Decrease (increase) in other liabilities                        79               (2)                (3)
                                                                -------          -------            -------
   Net Cash Provided by (Used in) Operating Activities              210              (55)                24

Investing Activities
   Capital contribution to subsidiary                              (519)            ----             (2,000)
                                                                -------          -------            -------
   Net Cash Used in Investing Activities                           (519)            ----             (2,000)

Financing Activities
   Public stock offering                                           ----             ----               ----
   Fractional shares paid on stock split                           ----               (1)                (1)
   Stock options exercised                                         ----             ----                 33
                                                                -------          -------            -------
   Net Cash (Used in) Provided by Financing Activities             ----               (1)                32
                                                                -------          -------            -------
Decrease in Cash                                                   (309)             (56)            (1,944)
Cash at the Beginning of the Period                               1,225            1,281              3,225
                                                                -------          -------            -------
Cash at the End of the Period                                   $   916          $ 1,225            $ 1,281
                                                                =======          =======            =======
</TABLE>



                                       31

<PAGE>




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

The following discussion compares the financial condition of the Corporation and
its subsidiaries, at December 31, 2001 to December 31, 2000 and the results of
operations for the years ended December 31, 2001, 2000, and 1999. 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 11.1%, or $23.4 million, to
$235.0 million at December 31, 2001, compared with $211.6 million at December
31, 2000.

During the year ended December 31, 2001, total deposits rose by $6.2 million,
while total loans decreased by $2.1 million. Commercial loans grew by $6.2
million, while residential mortgage loans decreased by $7.2 million.

The Corporation's investment portfolio increased $25.8 million in 2001. The
investment portfolio comprises mainly Federal Agency debentures and mortgage
backed instruments. Additionally, the Corporation invests in high quality
tax-exempt municipal bonds.

The allowance for credit losses as a percentage of total gross loans was 1.90%
as of December 31, 2001. The increased level of reserve for loan losses over
last year was needed to offset continued signs of local economic slowdown,
higher unemployment trends, and their impact upon the loan portfolios. The
provision for credit losses in 2001 decreased from the provision in 2000, at
$475,000 and $855,000, respectively. The lower provision was somewhat
attributable to the overall decline in the loan portfolio size compared to last
year. The provision in 2001 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 2001 comprised $261,000, with recoveries representing $62,000. Total net
charge-offs represented 0.13 percent of average portfolio loans.




                                       32
<PAGE>




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


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, 2001, there was $2,572,000 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.

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, 2001, total deposits increased by 3.3%, or
$6.2 million, to $192.3 million. Repurchase agreements increased by $2.6
million, to $6.7 million at December 31, 2001.


                                       33

<PAGE>




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


CAPITAL

Shareholders' equity was $20,477,000 at December 31, 2001, a $1,760,000 increase
from December 31, 2000. The increase resulted from net income of $1,626,000,
coupled with an equity increase reflecting a change in unrealized gains of the
available for sale security portfolio of $91,000. An additional net increase of
$43,000 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.




                                       34
<PAGE>

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


NET INTEREST INCOME

The Corporation expects net interest income to be its principal source of future
income. During 2001 net interest income was $7.5 million. The Corporation's net
interest margin for the year was 3.56%.

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, 2001 vs. 2000
                                                          -----------------------------------
                                                                         Increase (Decrease)
                                                                         Due to Changes In
                                                                       ----------------------

                                                            Total        Volume        Rate
                                                                         and Both
                                                          ---------    ---------     ---------
                                                                     (in thousands)
<S>                                                       <C>         <C>            <C>


Earning Assets - Interest Income
   Federal funds sold                                         ($295)        $142          ($437)
   Securities                                                   949        1,052           (103)
   Loans                                                     (1,800)         (34)        (1,766)
                                                          ---------    ---------      ---------

     Total                                                   (1,146)       1,160         (2,306)
                                                          ---------    ---------      ---------

Deposits and Borrowed Funds - Interest Expense
   NOW and money market accounts                               (167)          10           (177)
   Savings deposits                                             (92)          (9)           (83)
   Time deposits                                               (917)         482         (1,399)
   Other borrowings                                             335          340             (5)
   Capitalized lease obligation and ESOP loan                   (16)          (8)            (8)
                                                          ---------    ---------      ---------

     Total                                                     (857)         815         (1,672)
                                                          ---------    ---------      ---------
Net Interest Income                                           ($289)        $345          ($634)
                                                          =========    =========      =========
</TABLE>

For the year ended December 31, 2001, net interest income decreased by 3.7%, or
$0.3 million over 2000. On the liability side, interest bearing liability
volumes increased as the Corporation continued to build a deposit base. The net
interest margin decreased for the year to 3.56%, compared with 4.12% for 2000.
The decrease in margin was due to the significant drop in short term interest
rates and the ability of the Corporation to reprice interest sensitive
liabilities. Other factors which effected margin in 2001 were changes in the
balance sheet structure including the net decrease in the loan portfolio, which
effected the yield on earning assets.

                                       35

<PAGE>

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


AVERAGE BALANCE SHEET

The following table shows the Corporation's consolidated average balances of
assets, liabilities, and equity. The table also details the amount of interest
income or interest expense and the average yield or rate for each category of
interest earning asset or interest bearing liability, and the net interest
margin for the periods indicated. The average balance of securities represents
amortized cost. Interest income on loans includes loan fees.


<TABLE>
<CAPTION>
                                                                                    Year Ended December 31,
                                                                        2001                                    2000
                                                        --------------------------------------------------------------------------
                                                                                   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                                     $23,300          $974     4.18%         $19,892       $1,269      6.38%
   Securities                                              34,084         1,927     5.65           15,477          978      6.32
   Loans                                                  153,547        12,633     8.23          153,965       14,433      9.37
                                                        ---------      --------    -------        -------      -------     ------
   Total Earning Assets/
     Total Interest Income                                210,931        15,534     7.36%         189,334       16,680      8.81%
                                                                       --------    -------                     -------     ------
   Cash and due from banks                                  5,904                                   5,223
   All other assets                                         1,367                                   1,680
                                                        ---------                                 -------
   Total Assets                                          $218,202                                $196,237
                                                        =========                                 =======
Liabilities and Equity
     NOW and money market accounts                        $18,150           240     1.32%         $17,381          407      2.34%
     Savings deposits                                       7,865           156     1.98            8,337          248      2.97
     Time deposits                                        136,281         6,984     5.12          126,866        7,901      6.23
     FHLB advances and repurchase Agreements               11,931           472     3.96            3,347          137      4.09
     Capitalized lease and ESOP                             1,391           163    11.72            1,456          179     12.29
                                                        ---------      --------    -------        -------      -------     ------

     Total Interest Bearing Liabilities/
       Total Interest Expense                             175,618         8,015     4.56%         157,387        8,872      5.64%
                                                                       --------    -------                     -------     ------
   Noninterest bearing
     demand deposits                                       21,907                                  20,003
   All other liabilities                                      918                                     896
   Stockholders' equity                                    19,759                                  17,951
                                                        ---------                                 -------
     Total Liabilities and
       Stockholders' Equity                              $218,202                                $196,237
                                                        =========                                 =======
   Net Interest Income                                                   $7,519                                 $7,808
                                                                       ========                                =======
   Net Interest Margin (Net Interest
     Income/Total Earning Assets)                                                   3.56%                                   4.12%
                                                                                   =======                                =======
</TABLE>

<PAGE>




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


NONINTEREST INCOME

Noninterest income increased by 214.7%, to $1,775,000 for 2001, when ignoring
security gains and nonrecurring items as compared to 2000. Mortgage banking
income of $918,000 provided the largest segment of growth in noninterest income.
The newly formed Mortgage subsidiary started operations July 9, 2001. The
largest components of noninterest income is mortgage banking income, service
charge fee income and credit card merchant processing fees. The mortgage banking
income consisted of origination fee income received by the Mortgage Company upon
the sale of residential mortgages. The corresponding compensation expense paid
to the originators employed by the Mortgage Company is recorded as salary,
benefits and payroll taxes in the noninterest expense section of the
Consolidated Statement of Operations.

NONINTEREST EXPENSE

Noninterest expense increased by 20.6% over 2000, to $6.4 million in 2001. This
was primarily the result of growth of the Corporation, and the start of the
mortgage subsidiary in July 2001. Increases in expenses as the result of the
mortgage subsidiary were more than offset by the noninterest income generated.
Total salaries and benefits increased $1.1 million or a 50% increase in 2001
over 2000. Salaries, commissions and benefits from the mortgage subsidiary were
$724,000 for 2001. Increases in salaries and benefits without the mortgage
subsidiary was $350,000 or 16%, again reflecting the growth of the Corporation
and the resulting increases in staffing and merit. Net occupancy expense of
$869,000 increased $141,000, or 19%, due to the expansion of the loan operations
for commercial banking services and the mortgage subsidiary and the resulting
lease and occupany related costs. These operations are housed at 85 North Main
Street, adjacent to the main office facility. Other operating noninterest
expense of $2.3 million decreased $129,000 over 2000, as the result of cost
containment programs.

LIQUIDITY AND ASSET/LIABILITY MANAGEMENT

The liquidity of a Corporation 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. Corporation 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 $30.0
million secured line of credit with the FHLB, of which $13.4 million is used.
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.

                                       37

<PAGE>




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, 2001, 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. Loans are presented net of unearned income,
gross of the allowance, while securities are shown at amortized cost.
Assumptions incorporated into the time table include estimates of partial
redemptions on Now, Money Market and savings accounts. Prepayment of loans and
securities are also included at current levels as of December 31, 2001.
Additionally, many variable rate loans have interest rate floors which are
incorporated in this table.

<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                             $21,200            $ ----           $ ----            $ ----      $21,200
   Securities, at amortized cost                   11,217             4,666           16,789            13,491       46,163
   Loans                                           51,396            39,377           57,186            11,262      159,221
                                                  -------         ---------       ----------           -------     --------
     Total                                         83,813            44,043           73,975            24,753     $226,584
                                                                                                                   ========
Interest bearing liabilities
   NOW and money market accounts                    2,122             6,428           10,635              ----      $19,185
   Savings deposits                                   606             1,893            5,073              ----        7,572
   Jumbo time deposits                             55,501            15,855           13,385              ----       84,741
   Time deposits < $100,000                        25,990            10,247           17,391              ----       53,628
   Repurchase agreements                            6,739              ----             ----              ----        6,739
   FHLB and Repo sweeps                              ----              ----            7,000             6,400       13,400
   Capitalized lease obligation
     and ESOP loan                                    381                32              230               721        1,364
                                                  -------         ---------       ----------           -------     --------
     Total                                         91,339            34,455           53,714             7,121     $186,629
                                                  -------         ---------       ----------           -------     ========

Rate sensitivity gap                             ($7,526)             9,588           20,261            17,632

Cumulative rate sensitivity gap                                      $2,062          $22,323           $39,955

Rate sensitivity gap ratio                           0.92              1.28             1.38              3.48

Cumulative rate sensitivity gap ratio                                  1.02             1.12              1.21

</TABLE>


                                       38
<PAGE>



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 liability
sensitive in a three-month maturity range and evenly matched in a one-year
maturity range as of December 31, 2001.

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, 2001, the simulation model projects net interest income would
increase by 6.5% 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 decrease by 5.4%.



                                       39
<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
STOCKHOLDER INFORMATION


SEC FORM 10-KSB

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


STOCK INFORMATION

The common stock of Community Central Bank Corporation is quoted on the Nasdaq
National Market (NNM) under the ticker symbol "CCBD." At December 31, 2001,
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 through
December 7, 2001, and the Nasdaq National Market thereafter, and do not include
retail mark-up, mark-down or dealer commission.


                                2001 Bid Prices
<TABLE>
<CAPTION>
                                                                                  Cash
                                                                                Dividends
                           Quarter          High              Low               Declared
                           --------------------------------------------------------------
                           <S>             <C>               <C>                <C>

                           Fourth             $8.50             $5.80             $ ----
                           Third               6.75              4.81               ----
                           Second              5.95              5.50               ----
                           First               6.06              5.00               ----
                           --------------------------------------------------------------
</Table>

                                2000 Bid Prices

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



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


                                       40

<PAGE>




COMMUNITY CENTRAL BANK CORPORATION
STOCKHOLDER INFORMATION

MARKET MAKERS

At December 31, 2001, the following firms were registered with the Nasdaq
National Market as market makers in Community Central Bank Corporation common
stock:

<TABLE>
<S>                                                  <C>

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.                        Knight Securities, L.P.
365 South Street                                     525 Washington Blvd.
Morristown, NJ  07960                                Jersey City, NJ  07310

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.                         Spear, Leeds & Kellogg Capital Markets
135 South LaSalle St.                                Ten Exchange Place, 11th Floor
Chicago, IL  60603-4398                              Jersey City, NJ  07302

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

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

</TABLE>

INFORMATION

News media representatives and those seeking additional information about the
Corporation should contact Ray T. Colonius, Corporate Treasurer, at (586)
783-4500, or by writing him at 100 North Main Street, PO Box 7, Mount Clemens,
MI 48046-0007.

ANNUAL MEETING

This year's Annual Meeting will be held at 9:00 A.M., on Tuesday, April 16,
2002, at Fern Hill Country Club, 17600 Clinton River, Clinton Township, MI
48036.


                                       41
<PAGE>











                                                                     CCBCM-AR-02