N@N

SCVBank Announces Cash Dividend

^{Published on 2009-01-08 10:09:14, Last Modified on 2009-01-08 10:09:48 - Market Wire}
 

SANTA PAULA, Calif.--([ BUSINESS WIRE ])--Santa Clara Valley Bank (SCVBank) (OTCBB:SCVE) today announced a cash dividend of $.10 per share payable January 20, 2009 to shareholders of record as of December 26, 2008. This is SCVBank's first dividend declaration.

Chairman Guy Cole remarked, "We are very proud to be able to announce a dividend at this time. The dividend represents the board's gratitude to our shareholders for their loyalty and commitment and reaffirms the strength of the Bank's capital position. While so many other financial institutions have either failed, or cut back their dividends, the approval of a new dividend reflects SCVBank's long-term strategy of providing conservative, relationship-based credit."

Michael D. Hause, President and CEO, stated, "The dividend goes hand-in-hand with our Five-Star 'Superior' performing bank rating by BauerFinancial, Inc. At year-end 2008, the Bank's assets were $121.0 million."

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 [ www.SCVBank.com ].

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.