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SCVBank Reports Increasing Profitability

Zero Charge-Offs; Zero Non-Performing Assets

Santa Paula, CA. July 11, 2008 - Santa Clara Valley Bank (SCVBank; OTC BB: SCVE.OB) today announced its 2008 second quarter financial results.

SCVBank reported that net income was $170,000 in the second quarter of 2008, an increase of 97%, over the $86,000 of net income reported in the first quarter of 2008. For the six months ending 6/30/08, SCVBank’s net income was $256,000, or $0.23 per share, an increase of 137% compared to $108,000, or $0.10 per share, for the same period a year earlier. SCVBank’s net interest income increased by $233,000 or 10.7% over the same period in 2007. The Bank’s net interest margin remained strong at 4.54% for June.

In 2008, the Bank’s assets grew to $108.3 million, up from $107.3 million at year-end 2007. Loans grew from $81.6 million at year-end to $84.1 million, or 3.1% at June 30, 2008. The Bank holds $91.8 million in deposits, up from $91.6 million at year-end. Non-interest bearing deposits comprise 32% 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 6th consecutive quarter. During the last twelve quarters, the Bank has charged-off only $1,200. The Bank’s liquidity remains solid, allowing for increases in sound loans. SCVBank has been profitable since 2002.

“Our increasing net income is a testament to the strength and conservative nature of SCVBank,” stated Chairman Guy Cole. “The Board’s oversight and conservative nature continues to ensure our long term success”.

“The Bank is in a very strong capital position. We believe that our stock repurchase program has contributed significantly to maintaining the price of the Bank’s common stock, while that of other financial institutions has fallen dramatically,” said CEO Hause. “While we are proud of our credit quality at SCVBank, I want to applaud our loan customers for continuing to honor their loan obligations during these trying times. We appreciate their character and integrity very much”.


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

Santa Clara Valley Bank, N. A.            
Balance Sheets            
    Unaudited   Audited    
    June 30, 2008   December 31, 2007    
Cash and due from banks   $4,149,000   $6,512,000    
Investments   18,250,000   17,452,000    
Loans   84,115,000   81,554,000    
Allowance for loan losses   (832,000)   (747,000)    
Other assets   2,598,000   2,502,000    
Total Assets   $108,280,000   $107,273,000    
Liabilities and Equity:        
Deposits   $91,762,000   $91,579,000    
FHLB Advances   4,950,000   3,950,000    
Other liabilities   225,000   603,000    
Stockholders' equity   11,343,000   11,141,000    
Total Liabilities and Stockholders' Equity   $108,280,000   $107,273,000    
  For the Six Months   For the Six Months    
Statements of Income (unaudited)   Ended 6-30-08   Ended 6-30-07    
Interest income   $3,328,000   $3,324,000    
Interest expense   909,000   1,138,000    
Provision for loan losses   85,000   95,000    
Noninterest income   532,000   283,000    
Noninterest expense   2,447,000   2,185,000    
Income before taxes   419,000   189,000    
Income tax provision   163,000   81,000    
Net Income   $256,000   $108,000    
Earnings per share   $0.23   $0.10    
Quarterly Net Income   $170,000   $10,000    
Quarterly earnings per share   $0.16   $0.01    
Book value per share   $10.40   $9.85    
Shares outstanding (end of period)   1,090,491   1,048,839    
Return on average assets   0.48%   0.21%    
Return on beginning equity   4.60%   2.38%  
Total risk based capital ratio   16.64%   13.84%    
Tier one capital ratio   13.71%   13.05%    
Leverage ratio   10.48%   10.20%    
Nonperforming assets   $0   $0    

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