Bridge Bank CEO Myers Elected to the Board of the Federal Reserve Bank of San Francisco
SAN JOSE, CA--(Marketwire - December 13, 2007) - Bridge Capital Holdings (NASDAQ: BBNK), whose
subsidiary is Bridge Bank, National Association, one of the fastest-growing
full-service business banks in California and the Nation, announced today
that President and Chief Executive Officer Daniel P. Myers has been elected
to the Board of Directors of The Federal Reserve Bank of San Francisco.
Each of the nation's 12 Federal Reserve Banks has a nine-member board of
directors, three of whom are appointed by the Board of Governors of the
Federal Reserve System as class C directors. The remaining six (three
class A and three class B directors) are elected by the District's member
banks. Class A directors are drawn from the banking community. Class B
and C directors are individuals chosen from professions outside the banking
community and typically represent business, industry, agriculture, labor
and consumers. Mr. Myers joins as a class A director and will serve a
three year term beginning January 1, 2008.
The roles of Reserve Bank directors are in three principal areas:
overseeing the management of the Reserve Banks and Branches, participating
in the formulation of national monetary and credit policies, and acting as
a "link" between the government and the private sector.
The Federal Reserve Bank of San Francisco is the headquarter office of the
Twelfth Federal Reserve District. This district includes the nine western
states -- Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah,
and Washington -- Guam, American Samoa, and the Northern Mariana Islands.
To serve this expansive region, the San Francisco Federal Reserve Bank has
five branch offices, located in Los Angeles, Phoenix, Portland, Salt Lake
City, and Seattle. The Twelfth District is the largest, covering about 1.3
million square miles, or 35 percent of the nation's area. The District's
estimated 61.2 million people accounted for 20 percent of the total U.S.
population in 2006. The District also ranks first in the size of its
economy. The Twelfth District had assets of $99.7 billion and operating
expenses of $395 million as of December 31, 2006.
The remainder of the Federal Reserve Bank of San Francisco board includes:
David K.Y. Tang (chairman), K&L Gates, Seattle, WA. Mr. Tang is a class C
director. T. Gary Rogers (deputy chairman), Dreyer's Grand Ice Cream,
Inc., Oakland, CA. Mr. Rogers is a class C director. Karla S. Chambers,
Stahlbush Island Farms, Inc., Corvallis, OR. Mrs. Chambers is a class B
director. Blake W. Nordstrom, Nordstrom, Inc., Seattle, WA. Mr. Nordstrom
is a class B director. William D. Jones, president and CEO of CityLink
Investment Corporation, San Diego, CA. Mr. Jones is a class B director.
Douglas W. Shorenstein, Shorenstein Properties LLC, San Francisco, CA. Mr.
Shorenstein is a class C director. Candace H. Wiest, West Valley National
Bank, Avondale, AZ. Ms. Wiest is a class A director. Kenneth P. Wilcox,
Silicon Valley Bank, Santa Clara, CA. Mr. Wilcox is a class A director.
Dan Myers is a co-founder, director, and the president and CEO of Bridge
Bank, N.A. He is also a director, president and CEO of Bridge Capital
Holdings. Mr. Myers has 25 years of banking experience in the South San
Francisco Bay/Silicon Valley area, all with independent community banks,
and has held various executive management positions. Mr. Myers is also a
director with Western Independent Bankers and a director of the Santa Clara
County Council of the Boy Scouts of America.
Since opening in 2001, Bridge Bank has been recognized as one of the
fastest growing and best performing banks in California and the Nation. At
September 30, 2007, the Company reported total assets of $790 million and
year to date earnings of $8.2 million, an increase of 30% from the prior
year.
Bridge Bank specializes in providing superior service and customized
banking solutions to small and middle-market, and emerging technology
businesses, in Silicon Valley, California, and the Nation. The bank's
product offerings include 24/7 internet-based business cash and treasury
management, on-line account statement and item imaging, remote deposit
capture, commercial lines of credit, construction loans, Small Business
Administration 7(a) and 504 loans as an SBA Preferred Lender
Participant-accredited direct lender, and factoring and asset-based loans
through its Bridge Capital Finance Group.
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 Silicon Valley's full-service professional business
bank. The bank is dedicated to meeting the financial needs of small,
middle-market, and emerging technology businesses. 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 Federal Reserve Bank of San Francisco
The Federal Reserve Bank of San Francisco provides wholesale banking
services to financial institutions in the nine western states through its
head office in San Francisco, branch offices in Los Angeles, Portland, Salt
Lake City, and Seattle, and a cash processing office in Phoenix. As the
nation's central bank, the Federal Reserve System formulates monetary
policy, serves as a bank regulator, administers consumer protection laws,
and is fiscal agent for the U.S. government.
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; and (7) future credit loss experience.