Business Bank of Nevada Reaches Significant Milestone With Total Outstanding Loans Surpassing the $100 Million Mark.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Aug. 4, 2000

Business Bank of Nevada today announced that its total outstanding loans surpassed the $100 million mark last month, a significant milestone for the bank.

The bank has only been in existence for nearly five years and has become one of the fastest-growing independent banks in the state.

Opening its doors in October of 1995, the bank has been growing both its total deposits and total loans at an impressive rate year over year. Total deposits have been growing at an average rate of 38 percent over the last two years, while total loans have been growing at an average rate of 31 percent during the same period.

"We are very proud of our loan growth, particularly our most recent accomplishment of surpassing the $100 million mark in our total outstanding loans," said John Guedry, president and chief executive officer of Business Bank of Nevada. "This important milestone in our brief history is a real tribute to our entire bank staff, especially our seasoned and highly experienced team of credit officers and administrators."

Guedry added that the bank recently hired Mark Phillips, a longtime Nevada banker and former Bank of America Nevada employee, as senior credit officer of the bank. Phillips joins Business Bank of Nevada with more than 18 years of banking experience. Additionally, the bank recently hired Judy Crosswhite, a 14-year bank veteran and former Bank of America employee, as credit administrator of the bank. "It's this kind of experience and expertise that's going to help us continue to grow not only our loan portfolio, but all areas of the bank," Guedry said. "Nevada's booming economy, coupled with ongoing bank mergers and acquisitions, presents us with tremendous opportunity to capture a greater share of the marketplace."

The bank's total outstanding loans as of July 31, 2000, stood at $103,724,036, compared with $99,998,817 as of June 30, 2000. The bank's loan to deposit ratio currently stands at 78 percent, but the bank hopes to raise that to a range between 80 to 85 percent by the end of the year, according to Guedry.

Over the last seven months, the bank has experienced some of its most significant growth in total outstanding loans, with an 18 percent increase or nearly $16 million in new loans. Total outstanding loans as of Dec. 31, 1999, stood at almost $88 million compared with the nearly $104 million at the end of last month.

The bank had budgeted asset growth of 32 percent for 2000. Through June of this year, the bank had already grown 17 percent. "We're clearly ahead of schedule both in our loan growth as well as increasing our total assets," Guedry said. "With our experienced staff, we will exceed $150 million in total assets in the third quarter of 2000."

Business Bank of Nevada, with more than $142 million in total assets, is in its fifth year of operation and is one of the fastest-growing independent commercial banks in the state. The bank has four branch offices in Nevada, with three in the Las Vegas area and one in Carson City. The bank has plans to open additional branch offices statewide in the near future.

Business Bank is a member of the Federal Reserve Bank of San Francisco and is listed over the counter (OTC) at ticker symbol BBNV.

Visit the company's Web site at www.bbnv.com