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SCVBank Reports Solid First Quarter Results

Continued Strength in Loan Portfolio

SANTA PAULA, CA. April 10, 2008- Santa Clara Valley Bank (SCVBank;OTC BB:SCVE.OB) today announced its 2008 first quarter financial results.

SCVBank reported that revenue was $1,990,000 in the first quarter of 2008, an increase of 5%, or $95,000, over the $1,895,000 of revenue in the first quarter of 2007. Interest expense was down $102,000 over the same period in 2007 due to the lower interest rate environment. Net income for the first quarter 2008 was $86,000 compared to $98,000 for the period a year earlier. During the first quarter 2008, $146,000 in non-recurring expense was recorded.

Non-interest income for the quarter increased to $287,000, or 59% over the fourth quarter 2007, as SCVBank’s SBA loan program provided substantial revenues. The Bank’s net interest margin remained strong at 4.75% for March.

In the first quarter of 2008, the Bank’s assets grew to $108.2 million, up from $107.3 million at year-end 2007. Loans grew from $81.6 million at year-end to $83.4 million, or 2.2% at March 31, 2008. The Bank holds $92.3 million in deposits, up from $91.6 million at year-end. Non-interest bearing deposits comprise 33% of total deposits.

The Bank’s loan portfolio continues to perform well. SCVBank continues to have no non-performing loans and delinquencies are minimal. There were no loan charge-offs for the 5th consecutive quarter. During the last twelve quarters, the Bank has charged-off only $1,200.

“Our Remote Deposit Capture product is being very well received by our customers”, stated Michael D. Hause, President and CEO. He continued, “As of quarter-end, there were 12 very satisfied customers making their daily deposits from their offices: from Santa Monica, to Acton and Ventura. This allows our marketing efforts to expand throughout the region.”

“We continue to be very optimistic about the Bank’s future,” stated Chairman Guy Cole. “The Board’s long-term philosophy of building a strong banking franchise successfully continues during these challenging times unlike many other financial institutions”.

“The Bank is in a very strong capital position. The board continues to evaluate strategies that would benefit the shareholders,” said CEO Hause.


Founded in 1998, Santa Clara Valley Bank has offices in Santa Paula, Fillmore, and Valencia. Under its stock symbol of SCVE.OB, Santa Clara Valley Bank's stock is traded through Wedbush Morgan Securities, and Howe Barnes Hofer & Arnett. The Bank's web site is

Santa Clara Valley Bank Corporate Headquarters
901 East Main Street
Santa Paula, California 93060

Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, the effect of interest rate changes, the ability to control costs and expenses, the impact of consolidation in the banking industry, financial policies of the United States government, and general economic conditions.

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