Business Bancorp Stock Approved for NASDAQ Listing.Business Editors SAN BERNARDINO San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. , Calif.--(BUSINESS WIRE)--March 6, 2001 Business Bancorp (Nasdaq:BZBC), the 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. (www.businessbank.com), announced today that it has received approval for its stock to be listed on The NASDAQ SmallCap Market. Alan J. Lane, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Business Bancorp commented on the institution's approval by stating, "This is a major step for us and one on which we have been actively focused for the past several months. The new NASDAQ listing provides strategic advantages for the Bank by opening investment opportunities to institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. and research communities that have been precluded from the purchase of Over-the-Counter stocks over-the-counter stock A stock not listed on an exchange and trading only in the over-the-counter market. ." Business Bancorp's common stock will begin trading on the SmallCap Market on March 6, 2001 with the symbol "BZBC." The NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. has a larger dollar volume and trades more shares per day than any other U.S. market. "The increased exposure of the Bank's stock through inclusion in this market is part of a long-range plan to maximize shareholder value," stated Lane. He continued, "Coupled with the Bank's geographical expansion, including the recent acquisition of Valley Merchants Bank in Hemet, plans to open an office in downtown Riverside and plans to relocate our office in Corona into the new Corona redevelopment area along Main Street, the listing on NASDAQ significantly enhances growth opportunities for the Bank." Business Bancorp recently released earnings for the year ended December 31, 2000. Net earnings for the year totaled $2.3 million, compared to earnings of $1.9 million for the same time period in 1999. This represents growth of 16.5% for the year, and was 18.7% when calculated on a cash basis, representing the third consecutive year that the Bank has reported record earnings. Total assets of the institution have increased to over $300 million. Business Bancorp is a bank holding company that owns 100% of the capital stock of Business Bank of California (the "Bank"), the Company's principal operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. . The Bank is a California state chartered commercial bank whose primary business includes 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 activities. Business Bank of California has served the Inland Empire In·land Empire A region of the northwest United States between the Cascade Range and the Rocky Mountains, comprising eastern Washington, eastern Oregon, northern Idaho, and western Montana. Farming, lumbering, and mining are important to the area. since 1984. The Bank operates eight branches in the cities of Corona, Hemet, Hesperia, Ontario, Phelan, Redlands, and San Bernardino. They are strongly focused on providing high quality, personalized services to small businesses, professionals and consumers. Information regarding Business Bancorp stock can be obtained on NASDAQ utilizing the symbol (BZBC). The following Market Support Brokers handle Business Bancorp stock transactions; Gorian Investment Group 800/888-7551 Sutro & Co. 800/288-2811 Western Financial Corp. 800/488-5990 Visit our award winning website at www.businessbank.com |
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