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SCVBank Reports Profitable Second Quarter

Solid Loan Growth Experienced

Santa Paula, CA. July 16, 2009- Santa Clara Valley Bank (SCVBank;OTC BB:SCVE.OB) today announced its 2009 second quarter financial results.

SCVBank reported record quarterly revenue of $2,102,000 for the second quarter of 2009, an increase of 12.4%, or $232,000, over the $1,870,000 of revenue in the second quarter of 2008. The increase in revenues is a function of the growth in the Bank’s loan portfolio and good management of the investment portfolio.

Net interest income for the quarter was also at an all time high of $1,374,000 versus $1,193,000 for the same quarter in 2008. This represents an increase of $181,000 or 15.2%. The second quarter 2009 net interest income reflects a $153,000 increase over the first quarter 2009.

President and CEO Michael D. Hause noted, “We’ve been working hard to increase our core income by prudently growing our loan portfolio, reducing our deposit expenses and lowering overhead wherever possible”.

SCVBank recorded a net profit for the second quarter 2009 of $73,000 or $0.03 per common share compared to a net profit of $170,000 or $0.16 per share for the period a year earlier. The reduction in net income occurred primarily due to a $250,000 addition to the allowance for loan losses, as a result of loans being adversely affected by the recession and its effect on collateral values.

SCVBank’s net interest margin has steadily increased since April. For June, the margin equaled 4.3%.

For the six month period ending 6/30/09, the Bank has reported a loss of $394,000. This compares to a profit of $256,000 for the same period in 2008.
The primary cause of the year-to-date loss was the large loan loss provision recorded in the first quarter as the recession adversely affected several loans.


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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