San Jose, CA – April 7, 2015 – 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, announced today that its Technology Banking team has provided a combination of credit facilities and working capital advances totaling $20 million to HotSchedules (formerly Red Book Connect), a global software as a service provider for the restaurant, retail and hospitality industries.
Well, we can’t blame the weather this time; March U.S. Non-Farm Payrolls came in significantly lower this morning at +126K vs. consensus estimates of +244K likely quashing any likelihood of a June Fed tightening and prompting USD bulls to run for the exits, taking profit on their long positons. In a week of mixed data, market players had already begun to thin their long dollar positons ahead of the long Easter weekend and ahead of NFP which represented considerable event risk.
While the US Federal Reserve did remove the word ‘patient’ from its statement last Wednesday, it is not likely to remove the word ‘cautious’ from their approach to interest rates going forward. After a great deal of FX volatility after the Fed’s dovish outlook at the Federal Open Market Committee meeting last week, traders have been watching closely each economic data release this week for clues to the timing of the Fed’s next move – and the results have been a mixed bag of good, not so good, and ‘as anticipated’.
Top Performing Bank of 2014 Recognition Marks Bridge Bank’s Fourth Consecutive Year
As expected, the US Federal Reserve, in their monthly policy meeting on March 18, removed the term "patient" from their forward guidance leading to increased speculation of an impending interest rate increase. This potential rate move will of course depend, and place an ever-focused magnifying glass, on forthcoming economic data specifically employment and inflation.
PHOENIX, Arizona and SAN JOSE, California
Privately held technology firm Zeeto announced that it has secured a $3 million working capital line of credit from Bridge Bank. The news comes on the heels of Zeeto’s recent announcement to diversify and expand upon its proprietary technology that has catapulted the company as a front-runner in today’s lead generation field.