Business Bancorp Announces Regular Quarterly Cash Dividend.Business Editors SAN RAFAEL, Calif.--(BUSINESS WIRE)--Sept. 3, 2002 Business Bancorp (NasdaqNM: BZBC), parent company of Business Bank of California The Bank of California was founded in San Francisco, California on July 5, 1864 by William Chapman Ralston. It was the first commercial bank in the Western United States, the second-richest bank in the nation, and considered instrumental in developing the American Old West. , announced today that its Board of Directors declared a quarterly cash dividend of $0.01 per share payable September 27 to shareholders of record on September 13, 2002. On July 24, 2002, Business Bancorp reported record second quarter profits with strong margins and an accretive contribution from the merger of equals last year. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). earnings per diluted share (EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. ) in the second quarter increased 10% to $0.31, compared to $0.28 in the second quarter of 2001. Cash operating EPS increased 22% to $0.37 per diluted share, from $0.30 per diluted share in the second quarter of 2001. Cash operating earnings exclude after-tax merger-related expenses, net gains on sale of investments, and amortization of intangible assets. About Business Bancorp Business Bancorp, parent of Business Bank of California, completed a merger of equals with MCB (Memory Control Block) An identifier (16 bytes) that DOS places in front of each block of memory it allocates. Financial, parent of Metro Commerce Bank, in December 2001. The bank now has assets of more than $600 million and operates 15 branches offering retail banking, commercial, construction, and SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government lending. The bank operates in the Southern California cities of Corona, Hemet, Hesperia, Ontario, Phelan, Riverside, Redlands, Upland and San Bernardino, and in the Northern California cities of San Rafael, Petaluma, San Francisco, South San Francisco South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , and Hayward. The branches are strongly focused on providing high-quality, personalized services to small businesses, professionals and consumers. For further information on the company, visit our website at www.businessbank.com or e-mail your request to pphelan@businessbank.com or info@businessbank.com. Include your name, phone, facsimile, e-mail and mailing address. |
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