Business Bank of Nevada Reaches New Milestone by Topping $200 Million in Total Assets.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Jan. 7, 2002

Business Bank of Nevada (OTCBB:BBNV) today announced that for the first time in its brief six-year history the Bank surpassed the $200 million mark in total assets.

The Bank achieved this new milestone on December 31, 2001, when its total assets stood at more than $201 million.

According to Business Bank President and CEO John Guedry, phenomenal growth in the Bank's total deposits and total loans during the past two months has helped push the Bank's total assets past the $200 million mark. "At one point our total assets actually topped $210 million in early December, but closed out the year just over $201 million. We are very pleased with this kind of growth, especially for a bank our size and in today's sluggish economy."

Guedry added that the Bank's last milestone in asset growth was reached in September 2000 when it surpassed the $150 million mark in total assets. "If we continue to provide our customers with excellence in service, competitive market rates, quality loan and deposit products, and convenient services, asset growth will take care of itself. We're not so concerned with our size as we are in providing people with the financial products and services they not only want but deserve from a financial institution," Guedry said.

In the last two years, Business Bank has averaged a 26 percent increase in its asset growth year over year. As of December 31, 2000, the Bank's total assets were $177 million, compared to $128 million as of December 31, 1999. The Bank is projecting its total assets to grow by approximately 15 percent in 2002.

Guedry believes the success of the Bank is directly tied to the talented and highly skilled management and staff the Bank has assembled over the last 18 months, along with the strong support the Bank has received from the business community in both the Las Vegas and Carson City markets. Over the last year and a half the Bank has hired all new management and the majority of officers of the company, including Guedry as president and CEO, Larry Charlton as executive vice president and CFO/COO, Mark Phillips as executive vice president and chief credit officer. During that time, the Bank has also replaced 24 of its 27 officers, along with adding three new members to its board of directors, including former Nevada Governor Bob List.

"With the hiring of three new loan officers in the past month, along with a few branch and department personnel, the bank is fully staffed and positioned to maximize its full potential," Guedry said. "We believe 2002 will be a very prosperous year for the bank, its employees and shareholders. We now have the team in place to make this bank one of the premier financial institutions in the state and, as the economy begins to turn around this year, our performance and profitability will go up accordingly."

Business Bank, with over $200 million in total assets, is in its sixth 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 and possible career opportunities 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.