Business Bank Corporation Shareholders Vote Overwhelmingly to Re-Elect Five Board Members and Approve Amendment to Director's Stock Option Plan at Annual Meeting.Business Editors LAS VEGAS--(BUSINESS WIRE)--April 25, 2002 Business Bank Corporation, parent company of Business Bank of Nevada (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BBNV BBNV Business Bank of Nevada ), today announced that shareholders have overwhelmingly approved the re-election of five board members to its board of directors, and the amendment of the 1999 Director's Stock Option Plan. The Company announced the results of its proxy solicitation at its Annual Shareholder meeting held this week at its corporate headquarters in Las Vegas. The five members re-elected to the Company's eleven-member board of directors consist of Albert H. Capanna, M.D.; Peter Eliades of Peter Eliades Enterprises; John Guedry, 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 Bank; Thomas Y. Johnson, owner of Gold Dust Commercial Associates in Carson City; and former Nevada Governor Robert F. List, Esq. The five directors were re-elected to the board with 70 percent or more than 1.15 million shares of the Company's 1,656,791 outstanding shares voting in favor of these individuals to remain on the board for another three-year term that expires in 2005. The number of shares that voted in favor of amending the 1999 Director's Stock Option Plan totaled nearly 85 percent or 845,849 shares of the 1,287,228 responded shares. The responded shares constituted a record number shares (77.69%) being voted in this year's proxy solicitation. "We couldn't be more pleased with the vote of confidence shareholders have expressed in the board of directors and bank management with the recent proxy vote Proxy vote Vote cast by one person or entity on behalf of another. at our annual shareholder meeting," said Business Bank President and CEO John Guedry. "When 70% or more of your shareholders vote in favor of what you're soliciting, you quickly realize that your hard work and overall performance is being recognized very favorably." Guedry added that the continued support of the Company's shareholders and customers has helped Business Bank achieve the recognition of being rated the top bank in Nevada by the Nevada Business Journal magazine and its Nevada's Choice public opinion poll. "This is a great honor to be recognized as the best bank in Nevada since there are 29 banks statewide. We've always felt that we were the best bank in the state, but when an outside source confirms that perception, it validates your own beliefs," Guedry said. About Business Bank Business Bank, with over $202 million in total assets as of March 31, 2002, is in its seventh year of operation, and is one of the fastest-growing independent banks in Nevada. The Bank has four branch offices in the state, with three in the Las Vegas area and one in Carson City. Business Bank is FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). Insured and is a member of the Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, . Its stock is listed on the Over The Counter Bulletin Board (OTCBB) at ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors BBNV. Additional information about Business Bank is available at www.bbnv.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This release contains forward-looking statements relating to results of operations, product features and benefits, market penetration and market strategies. Such statements are made based on management's beliefs as well as assumptions made by and information currently available to management, pursuant to "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. While these statements reflect our best judgment, they are subject to risks and uncertainties that could cause a change in focus and direction. |
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