Santa Clara Valley Bank (SCV Bank) President/CEO Michael D. Hause announced that on August 21, 2006, SCVBank surpassed $100 million in assets, well ahead of schedule.
Chairman Sanger Hedrick, Jr. commented, “The 30% increase in assets since year-end 2005, indicates that our communities have been very receptive to the personal “customer oriented” banking service on which we have based our business model. In view of this we expect that our future growth will continue on a strong path.”
Donald E. Olivier, Co-founder and Chairman Emeritus reflected, “When we started working on the Bank back in 1997, I knew the communities we served needed a bank that embraced “hometown” service. The result has been successful as the Bank has grown to exceed $100 million.” He continued, “I feel very honored that I had a part in the beginning and have supported a successful, local business”.
Director and Co-Founder Scott Rushing stated, “Without the broad based support from the communities we serve, the Bank would never have gotten off the ground. I am very proud of the growth SCVBank has achieved, and we don’t intend on looking back”.
On behalf of the Board, staff, and shareholders we want to express our deep appreciation to our loyal customers in reaching this milestone.
Founded in 1998, Santa Clara Valley Bank has offices in Santa Paula, Fillmore, and Valencia. Under its stock symbol of SCVE.OB, SCVBank’s stock is traded through Crowell Weedon and Company, Wedbush Morgan Securities, and Howe Barnes. The Bank’s web site is www.SCVBank.com .