Bank of Santa Clara Reports Record Earnings.

SANTA CLARA, Calif.--(BUSINESS WIRE)--July 13, 1999--

Bank of Santa Clara, Santa Clara County's oldest independent bank (NASDAQ:BNSC), reports a record six-month after-tax profit of $1,934,992 for 1999. This was 5.1% more than the profit of $1,841,117 for the comparable period in 1998. Per share profit for the six months was $0.83 compared to last year's $0.78.

Total assets reached $315,553,299 at mid-year 1999, 13.1% more than the $279,078,159 in assets achieved on June 30, 1998. Deposit totals on June 30, 1999, were $285,749,723, an increase of 13.5% over June 30, 1998 deposit totals of $251,686,257. Total net loans outstanding at mid-year 1999 were $186,092,438, nearly identical to total loans of $186,085,284 one year earlier.

The second quarter after-tax profit of $1,029,401 was 5.3% more than the profit for the comparable period in 1998 of $977,369. Per share profit for the three-month period of 1999 was $0.44 compared to last year's second quarter profit of $0.42.

Founded in 1972, Bank of Santa Clara is Santa Clara County's oldest and largest "hometown" bank. Headquartered in Santa Clara, California, this independent community bank operates eight branches, staffed with over 150 employees, serving 20,000 individuals and small to medium-sized businesses throughout Silicon Valley.