Greater Bay Bancorp Announces Redemption of GBB Capital V Trust Preferred Securities.EAST PALO ALTO, Calif. -- Greater Bay Bancorp (Nasdaq:GBBK), a financial services holding company, today announced that GBB GBB Groningen Biomolecular Sciences and Biotechnology Institute (The Netherlands) GBB Gas Blow Back GBB General Broadband GBB Globe Broadband Capital V will redeem all of its 9.0% Trust Preferred Securities on August 31, 2006. The redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of $25.00 per share (plus any accrued and unpaid distributions) will be paid to all holders as of the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. . As part of the redemption, Greater Bay Bancorp will also retire the $106,702,000 principal amount of 9.0% Junior Subordinated Deferrable Interest Debentures issued to GBB Capital V. About Greater Bay Bancorp Greater Bay Bancorp, a diversified financial services holding company, provides community banking services in the Greater San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay through Greater Bay Bank, N.A.'s community banking organization, including Bank of Petaluma, Bank of Santa Clara, Bay Area Bank, Bay Bank of Commerce, Coast Commercial Bank, Cupertino National Bank, Golden Gate Bank, Mid-Peninsula Bank, Mt. Diablo National Bank, Peninsula Bank of Commerce and San Jose National Bank. Nationally, Greater Bay Bancorp provides specialized lending and loan services through its specialty finance group, which includes Matsco, CAPCO CAPCO Certified Capital Company CAPCO Capitol Area CAPCO Consumer Aerosol Products Council CAPCO Capability Package Coordination Officer CAPCO Controlled Access Program Coordinating Office (CIA) CAPCO California Agricultural Pest Control Operators and Greater Bay Capital. ABD ABD n. A candidate for a doctorate who has completed all the requirements for the degree, such as courses and examinations, with the exception of the dissertation. [a(ll) b(ut) d(issertation).] Insurance and Financial Services, the Company's insurance brokerage subsidiary provides commercial insurance brokerage, employee benefits consulting and risk management solutions to business clients throughout the United States. For additional information and press releases about Greater Bay Bancorp, visit the Company's web site at http://www.gbbk.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. This document may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. For a discussion of factors that could cause actual results to differ, please see the publicly available Securities and Exchange Commission filings of Greater Bay Bancorp, including its Annual Report on Form 10-K for the year ended December 31, 2005 and particularly the discussion of risk factors within such documents. |
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