Business Bank of Nevada Reports Record Growth for Second Quarter.

LAS VEGAS--(BUSINESS WIRE)--Aug. 2, 1999--

Business Bank of Nevada (OTC BB:BBNV) reported continued record growth for the period ended June 30, 1999.

In its Second Quarter Report, the bank reported total assets of $121.7 million, compared with $93 million as of June 30, 1998, a 30.6 percent increase in the past 12 months. The bank's loan portfolio grew to $79 million, a 40 percent growth over 1998, surpassing expectations for the first half of the year. Deposits continued to exceed expectations, reaching an all-time high of $110.2 million, a 34 percent increase over the same period in 1998.

The bank also reported a net profit before taxes of $897,388, representing a 123 percent increase in its profit margin and return on average equity for shareholders over the same period last year. Return on average assets was up 75 percent for the period.

"Our second quarter performance was strong by every major measure," said Al Alvarez, the bank's president and CEO. "Despite the added expenses of the opening of our new branch in northwest Las Vegas and the legal expenses associated with the ATM cash diversion, Business Bank of Nevada continues to experience record growth numbers this year.

"Through the end of June, the bank has recovered almost half of the monies that were diverted through the electronic funds transfer system at the end of last year and we are confident that further recovery of these monies will continue as scheduled," said Alvarez.

Business Bank of Nevada is seeing increased growth from small and mid-size businesses that are transferring their business following the merger or acquisition of their former bank in the Las Vegas area according to Alvarez.

"There's a lot of confusion in the local business market because of the many bank mergers, as other banks close some of their branches and clients are forced to relocate their business to less favorable locations," said Alvarez.

Business Bank of Nevada is an independent community bank with an emphasis on personalized service and products, such as its 24-hour automated telephone banking system and the expansion of its Business Express Courier service, which is available to business customers for transporting non-cash deposits and documentation for loans, deposit accounts and its merchant services. Business Bank currently operates three branches in the Las Vegas market.

Statements in this news release which express "belief," "intention," "expectation" or "prospects," as well as other statements that are not historical fact, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve certain risks and uncertainties.