MTXC Matrix Bancorp

Matrix Bancorp, Inc. (NASDAQ: MTXC) (the "Company") announced today that its annual shareholders' meeting will be held at the Hyatt Regency Denver at the Convention Center in Denver, Colorado, on Thursday, June 15, 2006, at 10:00 a.m. MST. One of the proposals at the shareholders' meeting is for the approval of the Company's new name, United Western Bancorp, Inc. In addition to shareholders, employees, directors and officers of the Company, it is expected that media representatives and other guests of the Company will attend the meeting, where Company executives will make a presentation concerning the status of its new community banking strategy and its competitive position in the Colorado banking market. Denver-based Matrix Bancorp, Inc. is focused on developing its community-based banking network through its Matrix Capital Bank subsidiary by strategically positioning branches across Colorado's Front Range market. The Bank plans to grow its network to an estimated five to seven community-based branches over the next three to five years. The Company anticipates changing the name of its principal subsidiary, Matrix Capital Bank, to United Western Bank and an accompanying name change awareness campaign during the third quarter of 2006, after receiving all necessary regulatory and shareholder approvals. At March 31, 2006, the Company reported total consolidated assets of approximately $2.15 billion, total loans of $1.3 billion, total deposits of $1.2 billion and total consolidated shareholders equity of $107 million. For more information, please visit www.matrixbancorp.com. Certain statements contained in this earnings release that are not historical facts, including, but not limited to, statements that can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "predict," "believe," "plan," "estimate" or "continue" or the negative thereof or other variations thereon or comparable terminology, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements in this earnings release could differ materially are: the timing of regulatory approvals or consents for new branches or other contemplated actions; the availability of suitable and desirable locations for additional branches; and the continuing strength of our existing business, which may be affected by various factors, including but not limited to interest rate fluctuations, level of delinquencies, defaults and prepayments, general economic conditions, competition; the delay in or failure to receive any required shareholder approvals of the contemplated actions; and the risks and uncertainties discussed elsewhere in the annual report for the year ended December 31, 2005, filed with the Securities and Exchange Commission on March 15, 2006; and in the quarterly report for the first quarter ended March 31, 2006, filed with the Securities and Exchange Commission on May 11, 2006; and the uncertainties set forth from time to time in the Company's other periodic reports, filings and other public statements.