Business Bank of Nevada helps Las Vegas Downtown Redevelopment Efforts with $1.6 Million Construction Loan to Prominent Law Firm.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Oct. 11, 2001

The redevelopment efforts of the downtown area of Las Vegas took on a new look today with the opening of a new 13,000 square foot office building at the northwest corner of Garces and Casino Center Boulevard.

A $1.6 million acquisition/construction loan from Business Bank of Nevada (OTCBB:BBNV) provided the law firm of Raleigh, Hunt, McGarry & Drizin with the funding they needed to build a new two-story office building and to acquire and develop a parking lot across the street. Both parcels sit in the shadow of the new Clark County Justice Center being built at the corner of Clark and Casino Center.

Prior to moving into its new facilities, the offices of Raleigh, Hunt, McGarry & Drizin were located in a much smaller facility at 302 East Carson Avenue. As the business continued to grow, the need for more office space grew as well. This growth lead to last year's purchase of the first quarter acre parcel that the new building now sits on and the subsequent groundbreaking of the project which occurred in January of this year. The partners, along with their staff, began moving into the new facilities at the beginning of last month, with a grand opening reception planned for early November.

"We couldn't be more pleased with the way the project turned out and how smoothly things went with Business Bank and the funding of our project," said Tim McGarry, one of the four partners in the Law Firm. "Our banking relationship began years ago with a community bank, but through mergers and acquisitions we found ourselves with a larger bank that lost interest in our banking relationship. That's why three years ago we decided to return to the small bank environment and chose Business Bank as our firm's financial institution."

McGarry added that service and experience are the primary reasons why they chose to do business with a smaller bank instead of a larger bank. "Banks are pretty much the same when it comes to financial products and services, but the level of customer service and the attention to detail that Business Bank provides to our business is night and day compared to larger banks. It's like having a consultant working with you when you deal with a smaller bank."

The layout of the law firm's new facility includes 11 offices located on the second floor of the building, a conference room, eight clerical work stations, a file room for legal files, a copy/fax room, a computer Web server room, and bathroom facilities. The first floor of the building has a reception area, shared conference room and approximately 3,500 square feet of unfinished office space for build-out purposes.

Currently, there are only 13 parking spaces at the new building, but in November of this year that number will be increased by 37 spaces once a new parking lot is paved and opened for business on the second parcel located at the southwest corner of Garces and Casino Center. The land for the new parking lot and cost of paving the property was also funded through the Business Bank loan. The firm believes in the Mayor's redevelopment efforts and is currently looking for more land to purchase in the downtown area of Las Vegas.

"While banking has changed over the years, one thing that hasn't changed is customer service, and it's very rewarding to have customers like Tim and his partners recognize this level of service and entrust us with their banking relationship," said Business Bank President and CEO John Guedry. "Like most of the small and medium-size businesses in Nevada, we're fairly new and looking for business partners that can help us grow and expand in order to become more successful."

Guedry added that the $1.6 million acquisition/construction loan to Raleigh, Hunt, McGarry & Drizin held a little more intrigue and satisfaction for the Bank because it was supporting the downtown redevelopment efforts of the City. "We support Mayor Oscar Goodman's vision of revitalizing the downtown area of our city, and with more projects like Raleigh, Hunt, McGarry & Drizin's, the downtown area will begin to take shape and attract more new businesses, along with new residential developments."

The general contractor for the law firm's new building was Tal-Star Construction, a locally based construction company that has been in business since 1997. The architects for the project were Klai-Juba Architects, also Las Vegas-based that's been in business for six years, while the interior design firm for the project was Colours, Inc., another local company that has been in business for 13 years.

Business Bank, with over $180 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.