Bridge Bank's Superior Financial Performance Drives Advancement to 32nd Place Among SNL's Top-Performing Banks With Assets Between $500M and $5B
SAN JOSE, CA-(Marketwired - Apr 18, 2013) - SNL Financial, a leading provider of financial information on more than 6,500 public companies and 50,000 private companies in the business sectors critical to the global economy, recently released its annual ranking of 2012's Top 100 Best Performing Banks with assets between $500M and $5B. Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, a full-service professional business bank headquartered in Silicon Valley and with offices located nationwide, is listed at number thirty-two, up from the sixty third position from 2011.
"To be included once again in the SNL list of top 100 banks is deserved recognition of our hard working professional Bridge bankers," stated Dan Myers, president and chief executive officer of Bridge Bank and Bridge Capital Holdings. "We are fortunate to have so many talented people in our organization who produce such positive results and deliver the truly unique banking experience to our clients that embodies the Bridge Bank brand and spirit."
SNL ranked the best-performing banks using six core financial performance metrics that focus on profitability, asset quality, and growth for the 12-month period ending Dec. 31, 2012. The metrics used were: return on average tangible assets before tax, net charge-offs as a percentage of average loans, adjusted Texas ratio, efficiency ratio, net interest margin and loan growth. SNL measured each company's standard deviation from the mean of each metric. The standard deviations, which are each equally weighted, were added together to calculate a performance score for each company.
To compile their annual ranking, SNL looked at institutions of $500 million to $5 billion in assets and with 60 or fewer offices. Also, at least one-third of the banks' balance sheets must be composed of loans, and they cannot have more than half of their loans in credit cards. Banks with a majority of revenue derived from nontraditional banking activities or that were not well capitalized were excluded. SNL ranked companies at the bank holding company level if consolidated data was reported. Otherwise, commercial bank subsidiary data was used. Thrifts were excluded along with companies that have parents with assets above $5 billion. Based on the described criteria, 765 companies were eligible for the rankings.
Click here to see the top 100 list: http://www.snl.com/InteractiveX/Article.aspx?cdid=A-17176830-13354
About SNL Financial
SNL Financial is a leading provider of financial information on more than 6,500 public companies and 50,000 private companies in the business sectors critical to the global economy: Banking, Financial Services, Insurance, Real Estate, Energy, Metals & Mining, and Media & Communications. The SNL information service integrates breaking news, comprehensive data and expert analysis into an electronic database available online and updated around the clock. For more information, visit www.snl.com.
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 holds a Global Select listing on the NASDAQ stock market under the trading symbol BBNK. Bridge Bank Holding Company was recently admitted to Sandler O'Neill's Class of 2012 "Sm-All Stars" -- a select group of 25 top-performing publicly traded banks and thrifts from throughout the U.S. with market capitalization of up to $2 billion. For additional information, visit the Bridge Capital Holdings website at www.bridgecapitalholdings.com.
About Bridge Bank, National Association
Bridge Bank is a full-service professional business bank founded in the highly competitive climate of Silicon Valley in 2001. From the very beginning, our goal has been to offer small-market and middle-market businesses from across many industries a better way to bank. A less bank-like way to bank. We provide a surprisingly broad range of financial solutions, enabling us to meet our clients’ varied needs across all stages — from inception to IPO and beyond. It’s how we go about doing so that differentiates us from our competition.
Daniel P. Myers
Chief Executive Officer
Thomas A. Sa
Executive Vice President
Chief Strategy Officer, Chief Financial Officer
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 can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Company, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic, real estate and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; new litigation or changes in existing litigation; future credit loss experience; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies; and the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control.
The reader should refer to the more complete discussion of such risks in Bridge Capital Holdings' annual reports on Forms 10-K and quarterly reports on Forms 10-Q on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.