SAN JOSE, Calif., July 18 /PRNewswire-FirstCall/ -- Bridge Capital Holdings , whose sole subsidiary is Bridge Bank, National Association, one of the fastest-growing full-service business banks in California and the Nation, today announced the planned expansion of its Palo Alto Regional Office.
The Bank recently signed a lease that will effectively double the size of its Regional Office located at 525 University Avenue. The project, which requires the extensive renovation of an existing facility, is expected to be completed by early 2007.
Bridge Bank's Palo Alto Office was the first expansion for fast growing Bridge Bank and opened in January of 2002. The Palo Alto Regional Office is led by one of the Valley's best known banking veterans, Kenneth D. Brenner, who joined the Bank and opened the original office over four and one half years ago.
"The expansion will accommodate a growing client base in Palo Alto and surrounding region, and demonstrates the Bank's commitment to this important market," said Daniel P. Myers, President and Chief Executive Officer of Bridge Capital Holdings and Bridge Bank.
Bridge Bank specializes in providing superior service and customized banking solutions to small and middle-market businesses. The bank's product offerings include 24/7 internet-based business cash management, on-line account statement and item imaging, remote deposit capture, commercial lines of credit, construction loans, a technology division that offers a full range of banking products and cash management services for emerging, revenue, and later stage technology and life science companies, and Small Business Administration 7(a) and 504 loans as an SBA Preferred Lender Participant- accredited direct lender.
Bridge Bank has a presence in ten business markets throughout California and the Central Region of the U.S. The Bank operates two full service commercial banking offices in San Jose and Palo Alto, a commercial loan production office in the East Bay, a construction loan production office in Redwood City, a technology loan production office in Dallas, Texas, two Small Business Administration loan production offices located in Sacramento and Fresno, and three SBA sales representatives in the Bakersfield, Orange County, and San Diego business communities.
Bridge Capital Holdings reported total assets at March 31, 2006 of $567 million and earnings of $1.9 million, or $0.29 per fully diluted share. Bridge Capital Holdings stock is listed on The NASDAQ Stock Market under the trading symbol BBNK.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National Association. Bridge Capital Holdings was formed on October 1, 2004 and is listed on The NASDAQ Stock Market under the trading symbol BBNK. Visit Bridge Capital Holdings on the web at http://www.bridgecapitalholdings.com/ .
About Bridge Bank, N.A.
Bridge Bank, N.A. is Silicon Valley's full-service professional business bank. The bank is dedicated to meeting the financial needs of small and middle market, and emerging technology businesses in the Silicon Valley, Palo Alto, Redwood City, Sacramento, San Ramon-Pleasanton, San Diego, Bakersfield, Fresno, Orange County, and Dallas, TX business communities. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers. Visit Bridge Bank on the web at http://www.bridgebank.com/ .
Forward Looking Statements
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward- looking statements describe future plans, strategies, and expectations, and are based on currently available information, expectations, assumptions, projections, and management's judgment about the Bank, the banking industry and general economic conditions. These forward looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward looking statements.
These risks and uncertainties include, but are not limited to: (1) competitive pressures in the banking industry; (2) changes in interest rate environment; (3) general economic conditions, nationally, regionally, and in operating markets; (4) changes in the regulatory environment; (5) changes in business conditions and inflation; (6) changes in securities markets; (7) future credit loss experience; (8) the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control; (9) civil disturbances or terrorist threats or acts, or apprehension about the possible future occurrences of acts of this type; and (10) the involvement of the United States in war or other hostilities.
The reader should refer to the more complete discussion of such risks in Bridge Bank N.A.'s annual reports on Forms 10-K and 10-Q on file with the Office of the Comptroller of the Currency and in the Form 10-Q of Bridge Capital Holdings on file with the SEC.
CONTACTS:
Daniel P. Myers
Bridge Bank, N.A.
408-556-8301
