MATRIX BANCORP, INC.                                   CONTACT: DAVID W. KLOOS
700 Seventeenth Street, Suite 2100                       CHIEF FINANCIAL OFFICER
Denver, Colorado 80202                                           (303) 595-9898

For Immediate Release July 18, 2003

            MATRIX BANCORP ANNOUNCES RESIGNATION OF PRESIDENT AND CEO
                             OF ITS BANK SUBSIDIARY

     Denver,  Colorado  - July 18,  2003 - Matrix  Bancorp,  Inc.  (NASDAQ:MTXC)
announced  today that  Stephen G. Skiba has  resigned  as  President  and CEO of
Matrix Capital Bank.  Matrix Capital Bank is a wholly owned subsidiary of Matrix
Bancorp.  Mr. Skiba has agreed to serve as a consultant  to Matrix  Capital Bank
from time to time over the next 12 months.

     D.  Mark  Spencer,  President  and  Co-CEO of  Matrix  Bancorp  and the new
President  and CEO of Matrix  Capital Bank,  commented:  "We thank Steve for his
service to Matrix Capital Bank over the past several  years,  but understand his
decision to move on and pursue other  business  opportunities.  The past several
years have seen significant changes at Matrix Capital Bank, including moving its
headquarters from Las Cruces to Denver and the sale of the mortgage  origination
platform at its Matrix Financial subsidiary.  And Steve has been instrumental in
helping  assure these  changes have been dealt with timely and  efficiently.  We
will continue,  however, to execute on the long-standing business plan at Matrix
Capital Bank and expect business to continue as usual going forward."

     Certain statements  contained in this press 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,"  "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 report  could  differ  materially  from those stated in such
forward-looking statements. Among the factors that could cause actual results to
differ  materially are: third party claims or actions in relation to the ongoing
or  future   bankruptcies   filed  by  clients  or   customers;   interest  rate
fluctuations; level of delinquencies; defaults and prepayments; general economic
conditions;  competition; government regulation; possible future litigation; the
actions or inactions of third  parties;  the risks and  uncertainties  discussed
elsewhere  in this  report  and in Matrix  Bancorp's  current  report on current
report on Form 8-K, filed March 14, 2001; and the  uncertainties  set forth from
time to time in Matrix  Bancorp  periodic  reports,  filings  and  other  public
statements.

     Matrix Bancorp is a unitary thrift holding company headquartered in Denver,
Colorado.  Its  subsidiaries'  operations  are conducted  primarily in Colorado,
Arizona, Texas and New Mexico.