EXHIBIT 99
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FOR IMMEDIATE RELEASE
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Mr. S. Tucker S. Johnson resigns as Director of SVB Financial Services, Inc.
and Somerset Valley Bank
Somerville, NJ...September 28, 2000 Robert P. Corcoran, President and CEO of SVB
Financial Services, Inc. and Somerset Valley Bank, announced today that Mr. S.
Tucker S. Johnson, of Hobe Sound, Florida, has resigned from the Board of
Directors, effective Thursday, September 28, 2000.
"Mr. Johnson was one of the founding incorporators of the Bank and a valued
director. His counsel will be missed," said Corcoran.
Somerset Valley Bank operates offices in Somerville (2), Hillsborough,
Bridgewater, Manville, Aberdeen, Bernards and at the Arbor Glen Retirement
Community. The Bank will open a branch on Oak Tree Road in Edison by the end of
2000. Through a joint venture with International Planning Alliance, known as
Somerset Valley Financial LLC, the Company offers life, health and disability
insurance services along with financial planning and retirement services. The
Company also offers access to discount brokerage services through its website
via its recent venture with National Discount Brokers.
SVB Financial Services, Inc. is traded on the NASDAQ National Market under
the trading symbol SVBF and can be accessed via the Internet at
www.somersetvalleybank.com.
The foregoing contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are not
historical facts and include expressions about management's confidence and
strategies and management's expectations about new and existing programs and
products, relationships, opportunities, technology and market conditions. These
statements may be identified by an "asterisk" (*) or may use such
forward-looking terminology as " expect", " look", " believe", " anticipate", "
may", " will", or similar statements or variations of such terms or otherwise
express views concerning trends and the future. Such forward-looking statements
involve certain risks and uncertainties. These include, but are not limited to,
the direction of interest rates, continued levels of loan quality and
origination volume, continued relationships with major customers including
sources for loans, as well as the effects of economic conditions and legal and
regulatory barriers and structure, including those relating to the deregulation
of the financial services industry. Actual results may differ materially from
such forward-looking statements. SVB Financial Services, Inc. assumes no
obligation for updating any such forward-looking statement at any time.
