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First Capital Bank News

For Immediate Release

Contact:
William W. Ranson
Senior Vice President and CFO
804-273-1160
wranson@1capitalbank.com

First Capital Bancorp, Inc
Reports Results for the Third Quarter of 2008

November 3, 2008, Glen Allen, Virginia. First Capital Bancorp, Inc (the "Company") (Nasdaq symbol: FCVA), the bank holding company for First Capital Bank (the "Bank"), today reported third quarter and nine month earnings.

Nationwide, concerns over asset quality, precipitated by issues related to declining real estate activity and general economic conditions, continued to increase in the banking industry during the third quarter. The impact of these concerns is reflected in the economic markets in which the Company operates, principally through slowing real estate activity. Residential acquisition and development lending and builder/construction lending have been significantly scaled back as housing activity across our markets has declined. Management will continue to monitor delinquencies, risk rating changes, charge-offs, market trends and other indicators of risk in the Company’s portfolio, particularly those tied to residential real estate, and adjust the allowance for loan losses accordingly.

First Capital Bancorp, Inc. announced today, due primarily to a significant increase in the allowance for loan losses, a net loss of $463 thousand or $.16 per diluted share for the three months ending September 30, 2008, compared to net income of $501 thousand for the same period in 2007. Earnings for the first nine months of 2008 totaled $338 thousand or $.11 per share which is a 72% decrease from $1.2 million or $.53 per diluted share for the same period in 2007.

First Capital Bank President and CEO Bob Watts noted, “While these are clearly some of the most challenging times our industry has dealt with in decades, we’re well capitalized and to date have experienced uniquely strong asset quality and operate in a market with a proven history of stability. At quarter end, the non-performing assets of the Bank are represented by two 30-day past due loans totaling $112 thousand and $2.1 million in nonaccrual loans which are predominantly secured by residential real estate. However, the current economy has put stress on the banking industry and we feel we have to react with caution and will continue to be cautious until the economy strengthens and increase our reserve levels in light of the uncertainty in the market."
As a result, the Company significantly increased its provision for loan losses by $1.4 million for the three months ended September 30, 2008 compared to $186 thousand for the same period in 2007. The provision for loan losses totals $2.0 million for the first nine months of 2008 compared to $438 thousand for the same period last year. The allowance for loan losses increased to 1.25 % of total loans as of September 30, 2008 as compared to .93% at the end of June, 2008 and .88% at the end of the same period last year.

Mr. Watts also noted, “While the Bank has only incurred year-to-date net charge-offs of $129 thousand and non-performing assets totaled $2.2 million or .52% percent of assets at the end of the quarter, the growth in our loan portfolio and the current economic conditions dictate extreme caution, and we feel that it is appropriate to increase the underlying reserve calculation levels.”

Total assets at September 30, 2008 were $419.6 million, up $67.8 million, or 19.3%, from total assets at December 31, 2007 and up $108.6 million, or 34.9%, from the same period in 2007. Total loans increased $95.8 million to $347.7 million, up 38.0% from the same period in 2007. Deposits grew at a greater level than loans with an increased $99.0 million to $322.9 million, up 44.2% from the same period in 2007. Federal Home Loan Bank advances increased $15 million to $50.0 million, up 42.9% from the same period in 2007. The Company’s capital position remains strong as Stockholders Equity increased $3.4 million, up 10.8% from June 30, 2007 as earnings over the last twelve months totaled $867 thousand and the Company exercised an over-allotment in July 2007, increasing net worth by $2.1 million. At September 30, 2008, the Company exceeded all regulatory capital requirements, with total Risk Based Capital 12.84% and Tier 1 capital of 11.08%.

Net interest income increased 20.9% to $8.4 million from $6.9 million for the nine months ended September 30, 2007. This increase in net interest income is attributable to the 38.0% growth of the loan portfolio from $251.9 million at September 30, 2007 to $347.7 million at September 30, 2008, offset by the effects of drastic reductions in the prime lending rate. The Federal Reserve Bank dropped the federal funds target rate and the associated rate of interest 300 basis points late in 2007 and the first quarter of 2008. An additional 25 basis point drop occurred in the second quarter of 2008 resulting in a decrease of 325 basis points for the last twelve months. At September 30, 2008, approximately 39.5% of the Bank’s loan portfolio is tied to this key rate. Although the vast majority of our time deposits are set to reprice in the next six months and will continue to lower funding costs, this rapid reduction in rates put pressure on our net interest margin during the first and second quarter. The net interest margin for the third quarter of 2008 was 2.87%, a decline from 3.73% in the third quarter of 2007. For the nine months ended September, 2008, the net interest margin was 2.99% down from 3.49% for the first nine months of 2007.

Noninterest expense increased $433 thousand or 23.2% for the three months ended September 30, 2008 as compared to the same period in 2007 and $1.2 million or 22.7% for the nine months ended September 30, 2008. The majority of the increase is attributable to the expanded branch franchise and the key additions to the lending team. Consequently, the largest increases in noninterest expense occurred in salaries and employee benefits of $118 thousand for the three months ended September 30, 2008 and $440 thousand for the nine months ended September 30, 2008 as compared to the comparable periods in 2007.

The Company currently operates seven branches in Innsbrook, Chesterfield Towne Center, near Willow Lawn on Staples Mill Road, in Ashland, in the Forest Office Park in Henrico County, at the James Center in downtown, Richmond, and our newest branch in Bon Air, Chesterfield County. The Company recently relocated the Innsbrook Branch to a free standing location in WestMark. The Company will also relocate our Forest Office Park branch to a free standing location at 7100 Three Chopt Road in the City of Richmond in the months ahead.

Readers are cautioned that this press release contains forward-looking statements made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current knowledge, assumptions, and analyses, which it believes are appropriate in the circumstances regarding future events, and may address issues that involve significant risks including, but not limited to: changes in interest rates; changes in accounting principles, policies, or guidelines; significant changes in general economic, competitive, and business conditions; significant changes in or additions to laws and regulatory requirements; and significant changes in securities markets. Additionally, such aforementioned uncertainties, assumptions, and estimates, may cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements.

First Capital Bank... Where People Matter.

For Immediate Release

Contact:
Robert G. Watts, Jr.,
President and CEO, First Capital Bank
804-273-1160
Grant S. Grayson,
Chairman of the Board

First Capital Bancorp, Inc. Expands Management Team

October 21, 2008, Glen Allen, Virginia. First Capital Bancorp, Inc. (NASDAQ: FCVA) announced today the addition of John Presley to its Management Team. Presley has been named Managing Director and CEO of the $400 Million bank holding company headquartered in Glen Allen. First Capital Bank’s long time President and CEO, Bob Watts, will remain at the helm of the wholly-owned bank subsidiary.

Bob Watts commented, “The last seven years I have spent leading First Capital have been my most rewarding years in banking. Adding John at this point in time could not be a better fit. Together we are excited about what we can make possible in Central Virginia for our customers and shareholders.”

Watts added, “As First Market Bank’s founding President and CEO, John is no stranger to the Richmond banking community and we will also benefit from his broadened experience outside of Richmond. In addition, adding John to our team facilitates my ability to truly focus on better positioning my passion, First Capital Bank, to thrive when markets turn positive again.”

Grant Grayson, Chairman of the Board, commented, “Bob and John share a long-standing commitment to banking in Richmond and have a shared vision of what is possible for First Capital moving forward. We couldn’t be more pleased to have them as partners leading us into our next chapter.”

Grayson further stated, “These are some of the most unique and challenging times that banking has seen and we are pleased to be adding someone of John’s considerable financial and strategic expertise to our team. His experience in the big-bank sector during his time away from Virginia will be invaluable in ensuring First Capital’s ongoing position of strength in today’s markets.”

Presley originally left Richmond in 2003 when he was tapped to return to Memphis to serve as CFO for National Commerce Bancorp. During his time there he managed the holding company’s sale to SunTrust in 2004 and subsequently managed the National Commerce merger-integration team. Presley then joined Marshall & Ilsley Bank in Wisconsin to serve as CFO of both the holding company and the bank. Most recently, he has been with Fifth Third Bank in Ohio in charge of their strategic initiatives and mergers and acquisitions.

Founded in 1998, First Capital Bancorp, Inc. has approximately $400 million and assets and its wholly-owned subsidiary First Capital Bank operates seven full-service branches throughout the greater Richmond metropolitan area.

First Capital Bank... Where People Matter.

For Immediate Release

Contact:
William W. Ranson
Senior Vice President & CFO
804-273-1160
wranson@1capitalbank.com

First Capital Bancorp, Inc.
Reports Earnings Increase for the Second Quarter of 2008

July 22, 2008, Glen Allen, Virginia. First Capital Bancorp, Inc. (the “Company”) (Nasdaq symbol: FCVA), the bank holding company for First Capital Bank, announced today a 6.7% increase in earnings for the three months ended June 30, 2008 to $386 thousand or $0.13 per diluted share, compared to $362 thousand or $0.18 per diluted share for the same period in 2007. Earnings for the first six months of 2008 increased 12.5% to $801 thousand or $0.27 per diluted share, compared to earnings of $712 thousand or $0.37 per diluted share for the same period in 2007. The decrease in diluted earnings per share was the result of the issuance of 1,020,000 shares of common stock as the result of a stock offering in 2007.

Total assets at June 30, 2008 were $396.5 million, up $44.6 million, or 12.7%, from total assets at December 31, 2007 and up $109.5 million, or 38.1%, from the same period in 2007. Total loans increased $107.0 million to $335.5 million, up 46.8% from the same period in 2007. Deposits increased $69.2 million to $288.2 million, up 31.6% from the same period in 2007. Federal Home Loan Bank advances increased $25.0 million to $50.0 million, up 100.0% from the same period in 2007. The Company’s capital position remains strong as Stockholders Equity increased $4.0 million, up 12.7% from June 30, 2007 as earnings over the last twelve months totaled $1.8 million and the Company exercised an over-allotment in July 2007, increasing net worth by $2.1 million. At June 30, 2008, the Company exceeded all regulatory capital requirements.

Net interest income increased 29.4% to $5.5 million from $4.3 million for the six months ended June 30, 2007. This increase in net interest income is attributable to the 46.8% growth of the loan portfolio from $228.6 million at June 30, 2007 to $335.5 million at June 30, 2008, offset by the effects of drastic reductions in the prime lending rate. The Federal Reserve Bank dropped the federal funds target rate and the associated prime rate of interest 300 basis points late in 2007 and the first quarter of 2008. An additional 25 basis point drop occurred in the second quarter of 2008 resulting in a decrease of 325 basis points for the last twelve months. At June 30, 2008, approximately 39.5% of the Bank’s loan portfolio is tied to this key rate. Although the vast majority of our time deposits are set to reprice in the next six months and will continue to lower funding costs, this rapid reduction in rates put pressure on our net interest margin during the first and second quarter. The net interest margin for the second quarter of 2008 was 2.96%, a decline from 3.36% in the second quarter of 2007. For the six months ended June 30, 2008, the net interest margin was 3.07% down from 3.36% for the first six months of 2007.

Noninterest expense increased $306 thousand or 17.8% for the three months ended June 30, 2008 as compared to the same period in 2007 and $740 thousand or 22.5% for the six months ended June 30, 2008. The majority of the increase is attributable to the expanded branch franchise and the key additions to the lending team. Consequently, the largest increases in noninterest expense occurred in salaries and employee benefits of $101 thousand for the three months ended June 30, 2008 and $322 thousand for the six months ended June 30, 2008 as compared to the comparable periods in 2007. With the addition of one new branch in June 2008, occupancy expense has increased $26 thousand for the quarter ended June 30, 2008 and $47 thousand for the six months ended June 30, 2008.

The Company’s asset quality continues to remain strong. The Company expensed $310 thousand in provision for loan losses from second quarter earnings, compared to only $130 thousand in the same period of 2007. Asset quality on the $335.5 million loan portfolio remained strong and we feel our underwriting and client selection should differentiate our loan portfolio from our competitors. There were no loans delinquent more than 30 days but less than 89 days at June 30, 2008. Non-performing assets totaled $81 thousand and represented .02% of total assets. The reserve for loan losses of $3.1 million represents 0.93% of total loans as of June 30, 2008 up from 0.84% at December 31, 2007.

First Capital Bancorp, Inc. President and CEO, Bob Watts, noted, “While these are clearly some of the most challenging times our industry has dealt with in decades, we’re confident it is exactly this environment that will bring our company’s strengths to the forefront. We’ve stuck to our knitting, remained conservative in our underwriting and loan structures, grown through attracting experienced lenders and known relationships, and have been selective in the opening and geographic diversity of our new offices. We’re well capitalized with uniquely strong asset quality and operate in a market with a proven history of stability. In addition, we have no sub-prime mortgage exposure.”

The Company currently operates seven branches in Innsbrook, Chesterfield Towne Center, near Willow Lawn on Staples Mill Road, in Ashland, in the Forest Office Park in Henrico County, at the James Center in downtown, Richmond, and our newest branch in Bon Air, Chesterfield County. The Company will relocate the Innsbrook Branch across the street to a free standing location in the third quarter of 2008. The Company will also relocate our Forest Office Park branch to a free standing location at 7100 Three Chopt Road in the City of Richmond in the fourth quarter.

First Capital Bank... Where People Matter.

For Immediate Release

Contact:
William W. Ranson
Senior Vice President & CFO
804-273-1160
wranson@1capitalbank.com

First Capital Bancorp, Inc.
Reports 19% Earnings Increase
For the First Quarter of 2008

April 23, 2008, Glen Allen, Virginia. First Capital Bancorp, Inc. (the “Company”) (Nasdaq symbol: FCVA) announced today that quarterly earnings were $415 thousand or $0.14 per diluted share, for the three months ended March 31, 2008, representing a 18.6% increase over earnings of $350 thousand, or $0.19 per diluted share, for the three months ended March 31, 2007.

During the first quarter of 2008, the financial markets continued to experience significant turmoil, primarily resulting from the problems in the sub prime mortgage market and illiquidity in the financial markets. The Company has no exposure to the sub prime market as it neither owns nor originates any sub prime mortgage instruments. The continued turmoil resulted in the Federal Reserve’s decision to lower short-term interest rates by 200 basis points during the three months ended March 31, 2008 after lowering short-term rates by 50 basis points both in the third and fourth quarter of 2007. This resulted in the prime rate decreasing 200 basis points in the first quarter of 2008 to 5.25% at March 31, 2008 from 7.25% at December 31, 2007.

This decrease in short-term rates negatively impacted the Company as a significant portion of our loan portfolio has interest rates that adjust according to the direction of short-term rates. The reduction in short-term interest rates also reduces the rates we pay on deposits, although the reduction in interest rates paid on deposits will be slower than the reduction of interest rates on loans, as deposits generally do not reprice as quickly as loans. Consequently, our net interest margin decreased 53 basis points to 3.16% for the first quarter of 2008, down from 3.69% for the fourth quarter of 2007.

Net loans outstanding increased $20.5 million, or 6.9%, in the first quarter of 2008 compared to $11.6 million, or 5.7%, for the first three months of 2007. Net loans outstanding before allowance for loan losses were $317.2 million. The allowance for loan losses stood at $2.8 million representing .89% of loans outstanding, up from .84% at December 31, 2007. Nonaccrual loans totaled $58 thousand at March 31, 2008 and loans delinquent 30 to 89 days totaled $58 thousand. For the first three months of 2007, nonaccrual loans totaled $120 thousand with no loans 30 or more days delinquent. The provision for loan losses for the three months ended March 31, 2008 was $325 thousand as compared to $122 thousand for the same period in 2007. While delinquencies have not materialized, the Company’s watch list has increased due to a slow down in the real estate market, as well as a weaker economy.

Net interest income for the three months ended March 31, 2008 was $2.8 million, an increase of $737 thousand, or 35.7%, over net interest income of $2.1 million for the same period in 2007. This increase in net interest income is attributable to the growth of our loan portfolio, from $211.2 million at March 31, 2007 to $314.4 million at March 31, 2008, reduced by the decrease in the average yield of the loan portfolio from 7.84% for the first quarter of 2007 to 7.19% for the three months ended March 31, 2008. Interest bearing liabilities increased $95.3 million from March 31, 2007 to March 31, 2008. The average cost on interest bearing liabilities decreased 39 basis points from 4.68% for the first quarter of 2007 to 4.29% for the comparable period in 2008. Additionally, noninterest income of $172 thousand for the first quarter of 2008 increased only 3.2% over the first quarter of 2007 noninterest income of $167 thousand due to a $34 thousand decrease in mortgage fees on loans. Due to turmoil in the financial markets, single family loan originations decreased significantly in the quarter as compared to 2007.

Increases in income were offset by an increase in noninterest expense of $434 thousand from the first quarter of 2007 to the first quarter of 2008. The increase in noninterest expense is a result of the growth of the Company. One new branch was opened and staffed in February 2007. The largest increases in noninterest expense occurred in salaries and benefits of $221 thousand, occupancy costs of $21 thousand, Virginia franchise tax of $37 thousand (as a result of stock issue in June and July 2007) and other operating expenses of $79 thousand.

Stockholders' equity totaled $35.4 million at March 31, 2008, which represented a book value of $11.91 per share. The Company closed a stock offering of 1,020,000 shares at $15.75 per share in June 2007 and exercised an over-allotment of 152,900 shares at $15.75 in July 2007; bringing total shares outstanding to 2,971,171. At March 31, 2008, the Company exceeded all regulatory capital requirements.

First Capital Bancorp, Inc. President and CEO, Bob Watts, noted that, “2007 and 2008 have been, and clearly are, challenging times for the financial services industry. However, with the exception of the market value of our stock, First Capital Bancorp, Inc. has remained relatively unaffected by the failures of the subprime mortgage market and continues to grow both in size and profitability. Since our company’s balance sheet does not have any subprime mortgage exposure, our growth, profitability, book value and asset quality performance are as strong as ever in the history of our company. In fact, we’ve benefited by attracting coveted local business relationships in response to larger financial institutions being forced to turn their attention inward.”

The Company currently operates six branches in Innsbrook, Chesterfield Towne Center, near Willow Lawn on Staples Mill Road, in Ashland, in the Forest Office Park in Henrico County and at The James Center in downtown, Richmond, Virginia. A seventh office is scheduled to open this summer in Bon Air.

First Capital Bank... Where People Matter.

For Immediate Release

Contact:
William W. Ranson
Senior Vice President & CFO
804-273-1160
wranson@1capitalbank.com

First Capital Bancorp, Inc. Announces 4^th Quarter 36% Earnings
Increase

January 24, 2008, Glen Allen, Virginia. First Capital Bancorp, Inc. (the “Company”) (Nasdaq symbol: FCVA) announced today that quarterly earnings were $529 thousand or $0.18 per diluted share, for the three months ended December 31, 2007, representing a 36.0% increase over earnings of $389 thousand, or $0.21 per diluted share, for the same period of 2006. For the twelve months ended December 31, 2007, earnings were $1.7 million or $0.71 per diluted share, an increase of 10.9% over the comparable period in 2006.

During the fourth quarter, the financial markets continued to experience significant turmoil, primarily resulting from the problems in the sub prime mortgage market. The Company has no exposure to the sub prime market as it neither owns nor originates any sub prime mortgage instruments. The turmoil resulted in the Federal Reserve’s decision to lower the federal funds target rate by 50 basis points during September and an additional 50 basis points in the fourth quarter. The Company was able to benefit from lower costs in funding opportunities during the third and fourth quarter. Lower funding cost opportunities and significant loan growth throughout the year; offset the 100 basis point decrease in the prime rate, limiting the decrease in the net interest margin to 4 basis points during the fourth quarter to 3.69% from 3.73% for the third quarter of 2007. The net interest margin was 3.39% for the fourth quarter of 2006.

Total assets increased $94.6 million for the year to $351.9 million or 36.8%.

Loans increased $42.4 million for the three months ended December 31, 2007, resulting in net loans outstanding at December 31, 2007 of $294.2 million as compared to $199.8 million at December 31, 2006. For the year ended December 31, 2007, net loans increased $94.5 million. Deposits increased $31.2 million for the three months ended December 31, 2007 and $60.8 million for the twelve months ended December 31, 2007.

Total deposits outstanding were $255.1 million at December 31, 2007 as compared to $194.3 million at December 31, 2006. As a result, net interest income was $2.9 million and $9.8 million, respectively, during the three and twelve month periods ended December 31, 2007, compared to $2.0 million and $7.6 million, respectively, during the same periods of 2006.

Provision for loan losses increased from $120 thousand for the fourth quarter of 2006 to $238 thousand for the three months ended December 31, 2007 primarily due to volume increases. Loan quality continues to remain strong. There was one delinquent loan, more than 30 days but less than 89 days, totaling $5 thousand at December 31, 2007. One loan was in non-accrual status totaling $50 thousand with a Small Business Administration guarantee of $25 thousand. The allowance for loan losses totaled $2.5 million at December 31, 2007.

Noninterest income was $278 thousand for the fourth quarter, compared to $166 thousand for the fourth quarter of 2006. Noninterest income was $809 thousand and $465 thousand for the years ended December 31, 2007 and 2006, respectively. Fees on mortgage loans originated for others were $23 thousand for the fourth quarter of 2007 and $158 thousand year to date in 2007. This is a new product which the Company began offering in the fourth quarter of 2006. Fees on deposits continue to increase as deposits grow and additional services are added. Fees on deposits accordingly increased 25.9% for the quarter to $63 thousand as compared to the fourth quarter of 2006. The Company sold $3.0 million of securities in the fourth quarter resulting in a gain of $29 thousand.

Noninterest expense increased $646 thousand or 44.4% for the three months ended December 31, 2007 as compared to the same period in 2006 and $2.0 million or 38.0% for the year ended December 31, 2007. The majority of the increase is attributable to the expanded branch franchise and the key additions to the lending team in the first quarter of 2007. Consequently, the largest increases in noninterest expense occurred in salaries and employee benefits of $353 thousand for the three months ended, 2007 and $1.2 million for the year ended December 31, 2007 as compared to the comparable periods in 2006. With the addition of two new branches since September 30, 2006, occupancy expense has increased $37 thousand for the quarter ended December 31, 2007 and $138 thousand for the year ended December 31, 2007.

Stockholders' equity totaled $34.9 million at December 31, 2007, which represented a book value of $11.73 per share. The Company closed a stock offering of 1,020,000 shares at $15.75 per share in June 2007 and exercised an over-allotment of 152,900 shares at $15.75 in July 2007; bringing total shares outstanding to 2,971,171. At December 31, 2007, the Company exceeded all regulatory capital requirements.

First Capital Bancorp, Inc. President and CEO, Bob Watts, noted “2007 was a year of tremendous accomplishments for First Capital Bancorp, Inc. We added key leadership, experienced lenders, opened a flagship office in downtown Richmond, completed a successful stock offering, nearly doubled noninterest income and announced record earnings. Clearly, the financial services industry is not without its challenges, yet First Capital Bancorp, Inc. continues to grow and thrive, while seeking to attack the challenges head on and remain true to our mission. We’re proud of our 2007 performance and seek further development of our franchise in 2008.”

For Immediate Release

Contact:
William W. Ranson
Senior Vice President & CFO
804-273-1160
wranson@1capitalbank.com

First Capital Bancorp, Inc. Announces 24% Earnings Increase

October 22, 2007, Glen Allen, Virginia. First Capital Bancorp, Inc. (the “Company”) (Nasdaq symbol: FCVA) announced today that quarterly earnings were $501 thousand or $0.17 per diluted share, for the three months ended September 30, 2007, representing a 23.9% increase over earnings of $404 thousand, or $0.21 per diluted share, for the same period of 2006. For the nine months ended September 30, 2007, earnings were $1.2 million or $0.53 per diluted share, an increase of 2.6% over the comparable period in 2006.

During the third quarter, the financial markets experienced significant turmoil, primarily resulting from the problems in the sub prime mortgage market. The Company has no exposure to the sub prime market as it neither owns nor originates any sub prime mortgage instruments. The turmoil resulted in the Federal Reserve’s decision to lower the federal funds target rate by 50 basis points during September. Although the Company has not realized the full impact of the rate cut, it was able to benefit from lower costs in funding opportunities during the quarter. Lower funding cost opportunities, significant loan growth and the closing of the Company’s public offering in June, including the exercise of the over-allotment option in July, contributed to continued improvement in the Company’s net interest margin during the third quarter, resulting in a net interest margin of 3.73% and 3% for the three and nine months ended September 30, 2007, respectively.

Loans increased $52.5 million in the nine months ended September 30, 2007, of which $25.5 million occurred in the third quarter. As a result, net interest income was $2.6 million and $6.9 million, respectively, during the three and nine month period ended September 30, 2007, compared to $1.9 million and $5.6 million, respectively, during the same periods of 2006.

Provision for loan losses increased from $55 thousand for the third quarter of 2006 to $186 thousand for the three months ended September 30, 2007 primarily due to volume increases. Loan quality continues to remain strong. Delinquent loans at September 30, 2007, more than 30 days but less than 89 days totaled $162 thousand. One relationship totaling $1.1 million was more than 90 days contractually delinquent but was not on nonaccrual status. The collateral properties were under contract with a nonrefundable $100 thousand deposit held by the Company. The related sales transaction subsequently settled in October 2007 and the Company was paid-off in full. The allowance for loan losses totaled $2.2 million at September 30, 2007.

Noninterest income was $175 thousand for the third quarter, compared to $118 thousand for the third quarter of 2006. Noninterest income was $531 thousand and $299 thousand for the nine months ended September 30, 2007 and 2006, respectively. Fees on mortgage loans originated for others were $45 thousand for the third quarter of 2007 and $135 thousand year to date in 2007. This is a new product which the Company did not offer during the nine months ended September 30, 2006. Fees on deposits continue to increase as deposits grow and additional services are added. Fees on deposits accordingly increased 16.3% for the quarter to $58 thousand as compared to the third quarter of 2006.

Noninterest expense increased $480 thousand or 34.6% for the three months ended September 30, 2007 as compared to the same period in 2006 and $1.4 million or 35.5% for the nine months ended September 30, 2007. The majority of the increase is attributable to the expanded branch franchise and the key additions to the lending team in the first quarter of 2007. Consequently, the largest increases in noninterest expense occurred in salaries and employee benefits of $234 thousand for the three months ended September 30, 2007 and $853 thousand for the nine months ended September 30, 2007 as compared to the comparable periods in 2006. With the addition of two new branches since September 30, 2006, occupancy expense has increased $39 thousand for the quarter ended September 30, 2007 and $111 thousand for the nine months ended September 30, 2007.

Stockholders' equity totaled $34.2 million at September 30, 2007, which represented a book value of $11.51 per share. The Company closed a stock offering of 1,020,000 shares at $15.75 per share in June 2007 and exercised an over-allotment of 152,900 shares at $15.75 in July 2007; bringing total shares outstanding to 2,968,821. At September 30, 2007, the Company exceeded all regulatory capital requirements.

First Capital Bancorp, Inc. President and CEO, Bob Watts, noted “the Company is beginning to realize the financial impact of the past 18 months’ focus on building our platform and growing our team. We are bullish on the future and we believe we are well-positioned to continue to produce strong results as we expand our franchise and service our communities.”

First Capital Bank... Where People Matter.

For Immediate Release

Contact:
William W. Ranson
Senior Vice President & CFO
804-273-1160
wranson@1capitalbank.com

First Capital Bancorp, Inc.
Reports Earnings for the Second Quarter of 2007

July 26, 2007, Glen Allen, Virginia. First Capital Bancorp, Inc. (the “Company”) (Nasdaq symbol: FCVA) announced today earnings for the three months ended June 30, 2007 of $362 thousand or $0.18 per diluted share, compared to $402 thousand or $0.21 per diluted share for the same period in 2006. Earnings for the first six months of 2007 amounted to $712 thousand or $0.36 per diluted share, compared to earnings of $778 thousand or $0.41 per diluted share for the same period in 2006.

The decrease in net income was due to the additional cost associated with the growth of the Bank which includes the opening and staffing of two new branches, one in the third quarter of 2006, and one in the first quarter of 2007, coupled with the hiring in the first quarter of 2007 of a Private Client Group Leader and a Business Banking Group Leader, both of whom have established relationships in the Richmond market.

The Company’s net interest margin was 3.36% during the first six months of 2007, compared to 3.48% during the 2006 six month period. For the quarters ended June 30, net interest margin was 3.36% for the three month period ended June 30, 2007 as compared to 3.44% during the 2006 three month period. Net interest income increased 18.6% to $2.2 million from $1.9 million for the quarter ended June 30, 2006. For the six months ended, net interest income increased 17.6% to $4.3 million from $3.6 million for the six months ended June 30, 2006. This increase in net interest income is attributable to the 25.8% growth of the loan portfolio from $180.0 million at June 30, 2006 to $226.5 million at June 30, 2007. Interest-bearing liabilities increased 12.6% from $225.0 million at June 30, 2006 to $253.3 million at June 30, 2007.

Noninterest income increased $104 thousand, or 121.5% for the quarter ended June 30, 2007 compared to the comparable period in 2006. For the six months ended June 30, 2007, noninterest income increased 96.9% to $356 thousand from $181 thousand for the comparable period in 2006. This increase was due to growth in fees on deposits and fees on mortgage loans.

Noninterest expense increased $498 thousand or 40.7% for the three months ended June 30, 2007 as compared to the same period in 2006 and $873 thousand or 36.1% for the six months ended June 30, 2007. The majority of the increase is attributable to the expanded branch franchise and the key additions to the lending team. Consequently, the largest increases in noninterest expense occurred in salaries and employee benefits of $368 thousand for the three months ended June 30, 2007 and $619 thousand for the six months ended June 30, 2007 as compared to the comparable periods in 2006. With the addition of two new branches since June 30, 2006, occupancy expense has increased $40 thousand for the quarter ended June 30, 2007 and $72 thousand for the six months ended June 30, 2007.

The Company’s asset quality continues to remain strong. Delinquent loans at June 30, 2007, more than 30 days but less than 89 days, were $1.2 million. Non-performing assets were one foreclosed single family real estate property valued at $154 thousand. The provision for loans losses increased 9.9% to $252 thousand for the six months ended June 30, 2007 and the allowance totaled $2.1 million at June 30, 2007.

Stockholders' equity totaled $31.3 million at June 30, 2007, which represented a book value of $11.11 per share. The Company closed a stock offering of 1,020,000 shares at $15.75 per share in June 2007; bringing total shares outstanding to 2,816,021. At June 30, 2007, the Company exceeded all regulatory capital requirements.

First Capital Bancorp, Inc. President and CEO, Bob Watts, noted “the past nine months have represented the greatest investment in the future of this franchise, to date. Included in this time period was the successfully completed and widely supported capital stock offering. The combination of two recent office openings, the addition of key in-market senior lenders and our newly increased legal lending limit should all have a significant positive impact going forward. As a team, we could not be more excited about the year ahead and attacking the industry challenges of compressed net interest margins and changing markets. We’re well positioned to do both.”

First Capital Bank... Where People Matter.

For Immediate Release

Contact:
William W. Ranson
Chief Financial Officer, Treasurer and Secretary
804-273-1160
wranson@1capitalbank.com

First Capital Bancorp, Inc.
Reports Earnings for the First Quarter of 2007

May 11, 2007, Glen Allen, Virginia. First Capital Bancorp, Inc. (the “Company”)(OTC Bulletin Board symbol: FPBX) announced today earnings for the three months ended March 31, 2007 of $350,006 or $0.19 per share, compared to $375,593 or $0.21 per share for the same period in 2006. The decrease in net income was due to the additional cost associated with the growth of the Bank which includes the opening and staffing of two new branches, one in the third quarter of 2006, and one in the first quarter of 2007, coupled with the hiring in the first quarter of 2007 of a Private Client Group Leader and a Business Banking Group Leader, both of whom have established relationships in the Richmond market.

The Company’s net interest income increased $291,951 or 16.5% to $2,064,238 for the three months ended March 31, 2007 over the three months ended March 31, 2006 net interest income of $1,772,287. This increase in net interest income is attributable to the growth of the loan portfolio from $165,817,459 at March 31, 2006 to $211,208,376 at March 31, 2007. Noninterest income increased $71,425, or 74.8% compared to the comparable period in 2006. This increase was due to growth in fees on deposits and fees on mortgage loans.

Noninterest expense increased $375,363 or 31.4% as compared to the same period in 2006. The majority of the increase is attributable to the expanded branch franchise and the key additions to the lending team. Consequently, the largest increases in noninterest expense occurred in salaries and employee benefits of $250,546 and occupancy costs of $32,722.

The Company’s asset quality remained strong with no loans delinquent 30 days or more and one real estate secured nonaccrual loan of $120,000 at March 31, 2007. The ratio of loan loss reserve to net loans outstanding at March 31, 2007 remained unchanged from December 31, 2006 at 0.92%, down from 0.93% at March 31, 2006.

Stockholders' equity totaled $16,081,571 at March 31, 2007, which represented a book value of $8.95 per share. At March 31, 2007, the Company exceeded all regulatory capital requirements.

First Capital Bancorp, Inc. President and CEO, Bob Watts, noted “the past six months have represented the greatest investment in the future of this franchise, to date. The recent additions of the James Center Office, an experienced Private Client Group Leader, a well known in-market Business Banking Leader and an expanded mortgage operation will all serve to springboard our company to the next level of performance. As a team, we could not be more excited about the year ahead and attacking the industry challenges of compressed net interest margins and changing markets. We’re well positioned to do both.”

The Company currently operates branches in Innsbrook, Chesterfield Towne Center, near Willow Lawn on Staples Mill Road, in Ashland, in the Forest Office Park in Henrico County and at the James Center in downtown, Richmond, Virginia.

First Capital Bank... Where People Matter.

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