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SBA Lending Veteran Scott Bell Joins Bridge Bank
Scott W. Bell has been named Vice President and Business Development Officer in the Bank's Small Business Administration Lending Group and will staff the new office. "As a fourth generation native of the area, I have strong ties to Bakersfield, however, my ties to clients and referral sources takes me throughout the state," said Mr. Bell. "The opportunity to work with a business bank that understands all aspects of SBA lending was important to me. My business clients need access to capital through both the 7(a) and 504 programs, and Bridge Bank has that experience and ability." Mr. Bell joins an already strong Bridge Bank SBA lending team with California Statewide Preferred Lender status, the highest level of lending accreditation awarded by the Small Business Administration. Since establishing its SBA Lending Group in 2002, Bridge Bank has consistently been ranked as one of the most active SBA lenders in California. "Mr. Bell is a great addition to our lending team," said Steve Pollett, Senior Vice President and Southern California Regional Sales Manager for Bridge Bank. "His expertise in all aspects of small business lending, knowledge of the various markets, and visibility in Bakersfield will enhance the success of our efforts as we continue to expand in this important business market." Mr. Bell was most recently with Coast National Bank, where he was a vice president and business development officer with a primary focus on SBA loans. His family has been a part of the Bakersfield community since the early 1880's, and most of his life has been spent in the area. "The Central and Southern California business markets are an attractive place to do business and represent good growth opportunities for Bridge Bank," said Ralph Barnett, Executive Vice President and SBA Loan Group Manager for Bridge Bank. "Scott's presence and leadership will allow the Bank to continue to expand on its unique brand of professional business banking to the many growing small companies in those regions. Bridge Bank launched a successful regional office in the Sacramento area three years ago and continued on this expansion into the Central Valley with the opening of a Fresno office last year. Having Scott on board allows us to not only tap into his local expertise, but also take advantage of his much broader reach into more southern and western parts of the state." Upon opening of the new SBA loan production office, Bridge Bank will have nine offices in California. The Bank operates full service commercial banking offices in San Jose and Palo Alto, a commercial loan production office in the East Bay, the Bridge Capital Finance Group loan production office in Santa Clara -- offering structured, asset-based, and factored loans, and now five Small Business Administration loan production offices located in Sacramento, Fresno, Bakersfield, Los Angeles, and San Diego. Bridge Capital Holdings recently reported its financial results for the year ended December 31, 2004. The Company reported net income of $3.0 million, or $0.46 per diluted share for 2004. Pre-tax income of $5.1 million for 2004 represented improvement of $3.6 million, or 242%, compared to $1.5 million in 2003. The Company reported total assets at December 31, 2004 of $401.8 million, compared to $278.6 million on the same date one year ago, an increase of $123.2 million, or 44%. Total deposits were $352.5 million at year-end, compared to total deposits of $246.4 million, an increase of $106.1 million, or 43%. Total loans outstanding were reported $294.5 million, an increase of $100.1 million, or 52%, over the same date one year earlier. In December 2004, the Company completed a $12 million offering of trust-preferred securities to supplement tier one capital and support continued growth of the banking franchise. As a result of the additional capital, the Company was able to maintain a total risk-based capital ratio of 12.6%, substantially above the regulatory standard of 10.0% for "well-capitalized" institutions. 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 www.bridgecapitalholdings.com. About Bridge Bank, N.A. Bridge Bank, N.A. is Santa Clara County's newest full-service 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, Sacramento, San Ramon-Pleasanton, San Diego, Los Angeles, Bakersfield, and Fresno 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 www.bridgebank.com. About the U.S. Small Business Administration The U.S. Small Business Administration, established in 1953, provides financial, technical, and management assistance to help Americans start, run, and grow their businesses. Nearly 20 million small businesses have received direct or indirect help from the SBA since 1953, as the agency has become the government's most cost-effective instrument for economic development. The SBA's current business loan portfolio of roughly 219,000 loans worth more than $45 billion makes it the largest single financial backer of U.S. businesses in the nation. Over the past 10 years, the SBA has helped almost 435,000 small businesses get more than $94.6 billion in loans, more than in the entire history of the agency before 1994. No other lender in this country - perhaps no other lender in the world - has been responsible for as much small business financing as the SBA has during that time. Last year, the SBA offered management and technical assistance to more than one million small business owners. The SBA also plays a major role in the government's disaster relief efforts by making low-interest recovery loans to both homeowners and businesses. Visit the SBA on the Web at http://www.sbaonline.sba.gov. About the Business and Industry (B & I) Program The U.S. Department of Agriculture (USDA) Rural Development's Business and Industry (B&I) Guaranteed loan program helps create jobs and stimulates rural economies by providing financial backing for businesses located in rural areas. This program guarantees up to 90 percent of a loan made by a commercial lender. Loan proceeds may be used for working capital, purchase of machinery and equipment, purchase of buildings and real estate, and certain types of debt refinancing. Under the Business and Industry Guaranteed Loan program, owners first seek loans from a private lending institution. Lenders, in turn, then seek a guarantee of the loan from the USDA Business & Industry Program. Visit the USDA on the Web at www.usda.gov. Forward Looking StatementsCertain 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.
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