Business Bank of Nevada Parent Company Announces Year End and 4th Quarter Results; Quarterly Income up Significantly.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Jan. 29, 2002

Business Bank Corporation, the parent company of Business Bank of Nevada (OTCBB:BBNV), today announced that its unaudited net after-tax earnings for last year were $724,622 as of December 31, 2001. This represents a slight decrease of 8.76 percent in the Corporation's net after-tax earnings year-over-year, which were $794,199 as of December 31, 2000.

The Corporation also reported that its 4th quarter unaudited net after-tax earnings for the period ending December 31, 2001 increased by nearly 115 percent to $306,359 compared to $142,586 for the 4th quarter period ending December 31, 2000.

"Our numbers are clearly going in the right direction, and we're quite pleased with our performance, especially the second half of last year, given all of the challenges we faced with the continued cuts in the interest rates," said Business Bank President and CEO John Guedry. "If rates had only dropped by the anticipated 50 to 100 basis points last year, our net interest margin would have resulted in approximately $1 million more in net income. This is significant when you look at how well we actually did in spite of the rate drops compared to what we would have done had rates not dropped by 475 basis points."

Guedry added that some of the bright spots for the Bank last year included significant gains on the sale of securities, management's continued vigilance in controlling expenses, and solid growth in the Bank's loan portfolio. "Even if the economy is slow to recover, which we believe it will be, we have the tools in place to see continued growth in all areas of our business, especially in our core business."

The Corporation's total assets as of December 31, 2001 were $201.1 million compared to $177.0 million a year earlier, which represents a 13.62 percent increase in the Company's total assets year-over-year. Total loans were $124.6 million as of December 31, 2001 compared to $112.6 million a year earlier, which reflects a 10.66 percent increase in total loans year-over-year. The Company's total deposits were $184.0 million as of the end of the fourth quarter 2001 compared to $162.7 million the previous year, which resulted in a 13.09 percent increase in total deposits year-over-year.

The Company's Book Value Per Share as of December 31, 2001 was $9.48 compared to $9.06 as of December 31, 2000. Earnings Per Share of Common Stock for the quarter was $0.44 compared to $0.64 the previous year. The Company's Return on Average Assets (ROA) was 0.38 percent as of December 31, 2001 compared to 0.53 percent a year earlier. Return on Average Equity (ROE) for the quarter was 4.98 percent compared to 6.99 percent twelve months earlier.

"While we're cautiously optimistic about 2002, we believe we can continue to grow the bank by approximately 10 to 15 percent year-over-year," Guedry said. "We see the majority of this growth coming from business clients who are becoming increasingly dissatisfied with larger banks, and our ability to move into new market areas throughout the state that we're currently not serving."

Business Bank, with over $200 million in total assets as of December 31, 2001, 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 Insured and is a member of the Federal Reserve Bank of San Francisco. 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.

Forward-Looking Statement 

This press 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" provisions of the Private Securities Litigation Reform Act of 1995. While these statements reflect our best judgement, they are subject to risks and uncertainties that could cause a change in focus and direction.

(Editor's Note: Complete 4th quarter and year end financial information for Business Bank Corporation is located on Business Bank's Web site at www.bbnv.com. This information is located in the Inside Business Bank/Investor Relations section of the Bank's Web site.)