Bank Notes

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First Quarter 2004 Earnings Up Strongly

At $136,706 for the quarter ended March 31, 2004, the bank achieved an earnings increase of $35,585, or 35.2%, from $101,121 in the first quarter of 2003. Net income per diluted share was $0.11 for the first quarter of 2004, an increase of 10% from $0.10 reported for the same quarter in 2003. The percentage growth in diluted earnings per share is lower than the reported percentage growth in net income because of a large increase in shares outstanding for this quarter. This increase is primarily due to fourth quarter 2003 exercises of warrants and options. All per-share data have been restated for the 3% stock dividend declared on January 29, 2004, and distributed March 15, 2004. The first three months of 2004 was a strong quarter for the bank following a similarly strong quarter at the close of 2003.

New National Check Clearing Procedure to Begin in Fall

Starting in October, a new law (known as "Check 21") takes effect that allows U. S. banks to cease returning cancelled checks with monthly statements. Instead, they will provide a copy of your check that is referred to as your "substitute check," and is your legal proof of payment. This system will allow checks to clear faster, and help eliminate fraud. Many banks have already switched over to this process, and we anticipate that our customers will see this change in due course. In early April we sent all customers a letter discussing Check 21 along with the brochure "Check 21 and You". If you have any questions please stop at any of our locations to talk to a Personal Banker and pick up an extra copy of "Check 21 and You," which explains all the details of this new program. Additional information may also be found at our website: www.christianabank.com

Vernita Dorsey Promoted to Vice President

We are pleased to announce that Vernita L. Dorsey has been promoted from Assistant Vice President and Manager of Retail Operations to Vice President of Retail Operations for the bank. Ms. Dorsey is directly responsible for the branch operations of the Greenville and King Street offices, retail compliance, deposit and fee generation, and growth from retail customers.

Vernita has more than 20 years of banking experience, including an extensive background in branch management and retail operations and vast experience in compliance, training and business development.

Stock Dividend Declared

The Board of Directors was pleased to declare a 3% stock dividend earlier in the quarter, reflecting the continuing gains in our performance, and a solid year in 2003. The dividend was paid to stockholders of record as of the close of business on March 12, 2004.

Customer Checkbook Stolen and Fraudulent Checks Written

Recently, a Christiana Bank customer had their checkbook stolen by a cleaning service employee who attempted unsuccessfully to use them. No checks were actually cashed and the checkbook has been recovered. This incident had a happy ending, but it underscores the need to keep all financial records in your home under tight control, especially if non-family members are routinely on the premises.

Certificate of Deposit Rates

For more information call our Personal Bankers at (302) 421-5800 or visit us at www.christianabank.com.

Our Stock Symbol

CBTD. Quotations can be found on the OTC Bulletin Board.