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SCVBank Reports First Quarter Results

Strong Deposit Growth Experienced

Santa Paula, CA. May 11, 2009- Santa Clara Valley Bank (SCVBank;OTC BB:SCVE.OB) today announced its 2009 first quarter financial results.

In the first quarter of 2009, SCVBank’s assets grew to $140 million, up from $121 million at year-end 2008, a dramatic increase of 15.4%. The primary source of the growth was strong deposit growth, which increased 17.3%.

“The deposit growth was both a blessing and a challenge, at least temporarily”, stated Michael D. Hause, President and CEO. “As time deposits came to SCVBank to seek safety from various other risks, the Bank couldn’t deploy the deposits rapidly enough to result in an increase in net interest margin. This trend should reverse itself in the second quarter as SCVBank funds new loan volume and purchases higher yielding investments.”

SCVBank’s net interest income was $5,000 lower in the first quarter of 2009, than the similar period one year ago, even though the earnings base had grown substantially.

Loans grew from $101.9 million at year-end to $105.5 million, or 3.6% at March 31, 2009.

SCVBank reported that revenue was $1,872,000 in the first quarter of 2009, a decrease of 5.9%, or $118,000, over the $1,990,000 of revenue in the first quarter of 2008. The reduction in revenues was a function of the low interest rate environment, including the near zero interest rate received on overnight funds. Also affecting revenue was the inability to sell the guaranteed portion of SBA loans in 2009.

Non-interest expense was down for the quarter by $20,000, due in part, to cost cutting measures.


Founded in 1998, SCVBank currently operates three branches in Santa Paula, Fillmore, and Valencia. Under its stock symbol of SCVE.OB, SCVBank's stock is traded through McAdams Wright Ragen, Howe Barnes Hofer & Arnett, and Monroe Securities. 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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