Business Bank of Nevada Helps Several Nonprofit Organizations in Nevada and a Young Boy Mauled by Dogs.Business Editors LAS VEGAS--(BUSINESS WIRE)--April 4, 2002 Business Bank of Nevada (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BBNV BBNV Business Bank of Nevada ) continues to give back to the communities it serves by providing much needed financial and in-kind support to a number of nonprofit organizations and to Michael Young, the Las Vegas boy who was mauled by several dogs earlier this year. During the first quarter of this year, the bank donated over $6,000 in monetary, computer equipment and other in-kind support to several nonprofit groups as well as the Michael Young donative Relating to the gratuitous transfer of something as in the nature of a gift. A donative trust is the conveyance of property in trust set up as a gift from one person to another. Donative intent is the intent to give something as a gift. account set up by the boy's parents at Business Bank. The nonprofit organizations that received philanthropic outreach from Business Bank include the March of Dimes
in full Young Men's Christian Association Nonsectarian, nonpolitical Christian lay movement that aims to develop high standards of Christian character among its members. of Southern Nevada. The money the bank donated to these nonprofit groups will help pay for everything from medical research for children with birth defects and diabetes to helping the mentally handicapped with job placement and training. "The social and economic needs of our communities continue to increase at an alarming pace, and without expanded support from companies and individuals we will not be able to take care of the growing needs of our society," said Business Bank 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. John Guedry. "We feel very fortunate to be able to help the nonprofit groups that we do, and as we grow, we look forward to helping more community-based organizations throughout Nevada." Guedry added that based on Business Bank's size, proportionately it gives as much if not more than some of the larger financial institutions and companies in the state. Typically a company's philanthropic budget is between one and two percent of its after-tax profits. "If every company would do their fair share, the challenge of charitable funding would not continue to fall on the same companies year after year, and more worthy causes and organizations would receive increased funding," Guedry said. Business Bank contributes financial assistance to nonprofit institutions and organizations that enhance the quality of life and promote public interest where the company conducts its business. The four main areas of giving include education, health and human services Noun 1. Health and Human Services - the United States federal department that administers all federal programs dealing with health and welfare; created in 1979 Department of Health and Human Services, HHS , community development, and arts and culture. The majority of the Bank's charitable funding is typically given to those nonprofit groups that have bank representation on their board of directors. Every member of the Bank's ten-person senior management team is involved in at least one nonprofit group, with some members serving on as many as four nonprofit boards. The Bank also encourages all of its officers to become involved in the community either through board involvement or volunteer support. About Business Bank of Nevada 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 BBNV. Additional information about Business Bank is available at www.bbnv.com. |
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