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<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND
EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1997
OR
[_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND
EXCHANGE ACT OF 1934
For the transition period from ______ to ______ .
Commission file number 0-25034
GREATER BAY BANCORP
(Exact name of registrant as specified in its charter)
CALIFORNIA 77-0387041
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
2860 WEST BAYSHORE ROAD, PALO ALTO, CALIFORNIA 94303
(Address of principal executive offices) (Zip Code)
(415) 813-8200
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
YES [X] No [_]
Outstanding shares of Common Stock, no par value, as of October 21, 1997:
3,338,083
<PAGE>
GREATER BAY BANCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
<TABLE>
<CAPTION>
Nine Months ended
September 30,
-------------------------------
1997 1996
--------- ---------
<S> <C> <C>
OPERATING ACTIVITIES:
Net income $ 6,097 $ 3,921
Reconciliation of net income
to net cash from operations:
Provision for loan losses 5,287 1,291
Depreciation and amortization 904 462
Accrued interest receivable
and other assets (3,980) (1,089)
Accrued interest payable and
other liabilities 2,370 (399)
Net change in deferred loan
fees 586 454
Stock dividends on other
securities (52) -
Accrued deferred income taxes (1,700) 58
Loss on sale of securities 44 (219)
--------- ---------
Cash provided by operating
activities 9,556 4,479
INVESTING ACTIVITIES:
Maturities and principal
reductions on investment securities:
Held-to-maturity 16,379 16,620
Available-for-sale 32,624 10,558
Purchase of investment
securities:
Held-to-maturity (2,472) (25,790)
Available-for-sale (75,450) (26,609)
Net change in loans (105,493) (98,219)
Sale of available-for-sale
securities 1,948 23,285
Sale of other real estate
owned 229 217
Principal payments on
available-for-sale securities - 0
Purchase of life insurance
policies - (327)
Purchase of premises and
equipment, net (1,037) (1,812)
--------- ---------
Cash used in investing activities (133,272) (102,077)
FINANCING ACTIVITIES:
Net change in deposits 138,849 98,532
Net change in short-term
borrowings (12,000) -
Proceeds from issurance of
Trust Preferred Securities 20,000 -
Stock purchased by employees
and stock options exercised 1,798 1,595
Cash dividends (1,495) (1,078)
--------- ---------
Cash provided by financing
activities 147,152 99,049
--------- ---------
Net increase in cash and cash
equivalents 23,436 1,203
Cash and cash equivalents at
beginning of period 53,896 58,111
--------- ---------
CASH AND CASH EQUIVALENTS AT END
OF PERIOD $ 77,332 $ 59,314
========= =========
CASH FLOWS--SUPPLEMENTAL DISCLOSURES:
Cash paid during the period for:
Interest on deposits and
other borrowings $ 5,894 $ 11,602
Income taxes 5,560 2,631
Non-cash transactions:
Additions to other real
estate owned 173 -
See notes to consolidated financial statements.
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
SIGNATURES
IN ACCORDANCE WITH THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED, THE REGISTRANT CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GREATER BAY BANCORP
(Registrant)
By: /s/ Steven C. Smith
--------------------------
Steven C. Smith
Executive Vice President, Chief Operating Officer and
Chief Financial Officer
Date: November 4, 1997
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