Exhibit 99.1
Press Release Announcing Earnings for the Quarter ended September 30, 2000.
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Exhibit 99.1
NORTH BAY BANCORP
PRESS RELEASE
November 6, 2000
North Bay Bancorp, holding company for The Vintage Bank (headquartered in Napa)
and Solano Bank (headquartered in Vacaville) announced third quarter, 2000
financial results.
Net income for the three months ended September 30, 2000 was $589,366, or $.31
per share, compared with earnings of $706,182, or $.43 per share, for the third
quarter of 1999. Year to date earnings were $2,049,592, or $1.18 per share, for
the nine months ended September 30, 2000 compared with earnings of $2,037,726,
or $1.23 per share, for the nine months ended September 30, 1999.
Total assets as of September 30, 2000 were $229,916,898 compared with
$197,654,862 as of September 30, 1999, equating to a 16% increase during the
previous year. Deposits increased 15% from a year earlier while loans increased
28%.
President & CEO Terry Robinson explained, "As we have stated in previous
earnings announcements, we projected earnings per share to decline with the
opening of Solano Bank. These results are consistent with our forecasts
regarding the impact of the new Bank, which opened in mid-July. We are delighted
with the Solano communities' response to our opening; the deposit growth to date
is particularly encouraging."
Stock of North Bay Bancorp is quoted on the Over-The-Counter (OTC) Bulletin
Board, Symbol NBAN.OB.
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Questions regarding this press release should be directed to Terry L. Robinson
(707) 258-3969.
