<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): OCTOBER 7, 1998
GREATER BAY BANCORP
(Exact name of registrant as specified in its charter)
CALIFORNIA 77-0387041
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification number)
Commission file number: 0-25034
2860 WEST BAYSHORE ROAD
PALO ALTO, CALIFORNIA 94303
(Address of principal executive offices and zip code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (650) 813-8200
<PAGE>
ITEM 5. OTHER EVENTS.
Reference is hereby made to the Registrant's press releases attached
hereto as Exhibits 99.1 and 99.2 which meet the requirements for filing under
Item 5 and are incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibits
- --------
99.1 Press Release dated October 7, 1998.
99.2 Press Release dated October 14, 1998.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
GREATER BAY BANCORP
(Registrant)
Dated: October 16, 1998 By: /s/ Steven C. Smith
-------------------
Steven C. Smith
Executive Vice President, Chief
Operating Officer and Chief Financial
Officer
3
<PAGE>
EXHIBIT INDEX
-------------
99.1 Press Release dated October 7, 1998.
99.2 Press Release dated October 14, 1998.
4
<PAGE>
EXHIBIT 99.1
Press Release dated October 7, 1998
For Immediate Release For Information Contact
- --------------------- -----------------------
October 7, 1998 David L. Kalkbrenner, President & CEO
(650) 614-5767
Steven C. Smith, EVP, COO & CFO
(650) 813-8222
GREATER BAY BANCORP ANNOUNCES
36% INCREASE IN CORE EARNINGS
PALO ALTO, CA; October 7, 1998 - Greater Bay Bancorp (Nasdaq: GBBK), a $1.5
billion in assets financial services holding company, today announced net income
of $11.6 million or $1.14 per diluted share for the nine month period ended
September 30, 1998. Net income included approximately $1.7 million, net of tax,
in merger and non-recurring costs. Excluding merger and related non-recurring
costs, net income for the nine month period ended September 30, 1998 would have
been $13.3 million or $1.30 per diluted share, an increase in net income of
36.13% over the same period in 1997.
For the third quarter of 1998, Greater Bay Bancorp's net income was $4.4
million or $0.43 per diluted share. Excluding merger and related non-recurring
costs, third quarter 1998 net income would have been $4.8 million or $0.47 per
diluted share, a 4.81% increase over second quarter 1998 net income and a 24.39%
increase over the third quarter 1997 net income of $3.8 million or $0.38 per
diluted share.
Greater Bay Bancorp's total assets were over $1.5 billion at September 30,
1998, an increase of 40.53% or approximately $443 million from September 30,
1997. Total loans grew to $860 million, an increase of $156 million or 22.21%
compared to total loans at September 30, 1997. Total deposits increased $1.3
billion at quarter end, a $317 million or 32.72% increase since September 30,
1997.
Mr. David L. Kalkbrenner, President and Chief Executive Officer, stated,
"We are proud to report significant growth in net earnings and continued
improvement in our efficiency ratio, while successfully integrating our bank
mergers and new business initiatives." Mr. Kalkbrenner continued, "Our ability
to take advantage of growth opportunities through mergers and new business
initiatives combined with prudent expense control has provided shareholders of
Greater Bay Bancorp with above average returns on equity."
Operating results for the nine months ended September 30, 1998 and the
third quarter of 1998 include approximately $55,000 and $30,000 respectively,
excluding internal staff time, related to the correction of the year 2000
"millenium bug" which impacts all companies. The
<PAGE>
Company has budgeted an anticipated total expenditure of $300,000 to $500,000
to address the year 2000 issues.
For the nine-month period ended September 30, 1998, Greater Bay Bancorp's
return on average equity and average assets, excluding merger and related non-
recurring costs, were 21.74% and 1.30%, respectively, compared to 17.85% and
1.29%, respectively, for the nine month period ended September 30, 1997. During
the third quarter of 1998, Greater Bay Bancorp's return on average equity and
average assets, excluding merger and related non-recurring costs, were 21.79%
and 1.27%, respectively, compared to 19.54% and 1.41%, respectively, for the
same period in 1997.
Greater Bay Bancorp's ratio of non-performing assets to total assets was
0.27% at September 30, 1998, compared to 0.70% at September 30, 1997, while
the allowance for loan losses represented 2.31% of total loans and 472.77% of
total non performing assets at September 30, 1998, compared to 2.09% and
191.77% at September 30, 1997.
The Company's trust division, Greater Bay Trust Company, continued to
experience growth in its business relationships as the level of fiduciary assets
under management increased by 7.71% to a total of $581.4 million at September
30, 1998 compared to $539.8 million one year earlier. Trust fee income
increased by 16.73% from $550,000 for the third quarter of 1997 to $642,000 for
the third quarter of 1998.
Greater Bay Bancorp's capital ratios continue to be above the well-
capitalized guidelines established by the bank regulatory agencies.
Greater Bay Bancorp and its financial services subsidiaries, Cupertino
National Bank, Mid-Peninsula Bank, Peninsula Bank of Commerce and Golden Gate
Bank, along with its operating divisions, Greater Bay Bank Santa Clara Valley
Commercial Banking Group, Greater Bay Corporate Finance Group, Greater Bay
International Banking Division, Greater Bay Trust Company, Pacific Business
Funding and Venture Banking Group, serve clients throughout Silicon Valley and
the San Francisco Peninsula with offices located in San Jose, Cupertino, Palo
Alto, Redwood City, San Mateo, Millbrae, San Bruno, San Francisco and Walnut
Creek.
This document may contain forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ materially
from those projected. For a discussion of factors that could cause actual
results to differ, please see the Company's publicly available Securities and
Exchange Commission filings, including its Annual Report on Form 10-K for the
year ended December 31, 1997, and particularly the discussion of risk factors
within that document.
WE INVEST IN RELATIONSHIPS!
<PAGE>
GREATER BAY BANCORP
SEPTEMBER 30, 1998 - FINANCIAL SUMMARY
($ IN 000'S, EXCEPT SHARE AND PER SHARE DATA)
SELECTED QUARTERLY CONSOLIDATED FINANCIAL CONDITION DATA:
<TABLE>
<CAPTION>
SEPT 30 JUN 30 MAR 31 DEC 31 SEPT 30
1998 1998 1998 1997 1997
----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
Cash and Due From Banks ............................. $ 55,399 $ 70,010 $ 71,152 $ 53,167 $ 49,251
Investments ......................................... 574,636 558,335 426,098 393,676 319,793
Loans:
Commercial ................................ 388,094 372,930 367,384 362,747 334,134
Construction .............................. 153,378 139,850 121,446 112,514 115,797
Real Estate ............................... 245,340 227,652 217,845 196,217 191,564
Consumer and Other ........................ 75,673 81,750 79,177 82,914 64,807
Deferred Loan Fees, Net ................... (2,966) (2,446) (2,904) (2,765) (3,007)
----------- ----------- ----------- ----------- -----------
Total Loans ............................. 859,519 819,736 782,948 751,627 703,295
Allowance for Loan Losses ............... (19,861) (17,985) (16,565) (16,394) (14,694)
----------- ----------- ----------- ----------- -----------
Total Loans, Net .......................... 839,658 801,751 766,383 735,233 688,601
Other Assets ........................................ 65,690 56,773 58,092 35,589 34,943
----------- ----------- ----------- ----------- -----------
Total Assets ........................................ $ 1,535,383 $ 1,486,869 $ 1,321,725 $ 1,217,665 $ 1,092,588
=========== =========== =========== =========== ===========
Deposits:
Demand, Non-Interest Bearing .............. $ 237,596 $ 263,121 $ 208,277 $ 219,495 $ 184,585
NOW, MMDA and Savings .................... 802,220 809,594 676,730 627,475 590,958
Time Certificates, $100,000 and over ...... 198,286 180,891 175,381 183,147 147,255
Other Time Certificates ................... 49,830 31,009 46,043 41,031 47,635
----------- ----------- ----------- ----------- -----------
Total Deposits .......................... 1,287,932 1,284,615 1,106,431 1,071,148 970,433
----------- ----------- ----------- ----------- -----------
Other Borrowings .................................... 89,735 82,275 85,142 32,355 11,675
Other Liabilities ................................... 15,764 14,556 26,857 14,622 11,033
----------- ----------- ----------- ----------- -----------
Total Liabilities ....................... 1,393,431 1,381,446 1,218,430 1,118,125 993,141
----------- ----------- ----------- ----------- -----------
Long-term Subordinated Debt ......................... 3,000 3,000 3,000 3,000 3,000
Trust Preferred Securities .......................... 50,000 20,000 20,000 20,000 20,000
Stockholders' Equity ................................ 88,952 82,423 80,295 76,540 76,447
----------- ----------- ----------- ----------- -----------
Regulatory Capital ...................... 141,952 105,423 103,295 99,540 99,447
----------- ----------- ----------- ----------- -----------
Total Liabilities and Shareholders' Equity .......... $ 1,535,383 $ 1,486,869 $ 1,321,725 $ 1,217,665 $ 1,092,588
=========== =========== =========== =========== ===========
Average Quarterly Total Loans, excluding Nonaccrual.. $ 824,356 $ 794,786 $ 752,381 $ 714,594 $ 674,733
Average Quarterly Investments ....................... $ 585,654 $ 475,082 $ 410,650 $ 352,179 $ 327,222
Average Quarterly Interest Bearing Liabilities ...... $ 1,148,268 $ 1,015,659 $ 969,365 $ 843,329 $ 830,887
Average Quarterly Assets ............................ $ 1,489,844 $ 1,375,328 $ 1,240,507 $ 1,135,426 $ 1,074,565
Average Quarterly Equity ............................ $ 86,577 $ 80,667 $ 77,425 $ 76,151 $ 77,596
Regulatory Capital
Tier I or Leverage Capital ................ $ 115,951 $ 102,025 $ 99,755 $ 96,317 $ 96,449
Total Capital ............................. $ 154,597 $ 120,281 $ 117,031 $ 113,046 $ 112,259
Nonperforming Assets
Nonaccrual Loans .......................... $ 2,919 $ 3,758 $ 3,152 $ 2,971 $ 4,565
Loans 90 Days Past Due & Accruing ......... -- 75 108 158 575
Restructured Loans ........................ 377 531 903 1,062 1,453
OREO ...................................... 905 1,001 1,001 1,303 1,069
----------- ----------- ----------- ----------- -----------
Total Nonperforming Assets .......................... $ 4,201 $ 5,365 $ 5,164 $ 5,494 $ 7,662
=========== =========== =========== =========== ===========
Greater Bay Trust Company Assets .................... $ 581,437 $ 636,362 $ 576,290 $ 577,746 $ 539,800
</TABLE>
SELECTED QUARTERLY CONSOLIDATED FINANCIAL CONDITION RATIOS:
<TABLE>
<CAPTION>
SEPT 30 JUN 30 MAR 31 DEC 31 SEPT 30
1998 1998 1998 1997 1997
----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
Loan to Deposit Ratio ............................... 66.74% 63.81% 70.76% 70.17% 72.47%
Ratio of Allowance for Loan Losses to:
Total Loans ............................... 2.31% 2.19% 2.12% 2.18% 2.09%
Total Nonperforming Assets ................ 472.77% 335.24% 320.78% 298.39% 191.78%
Total Nonperforming Assets to Total Assets .......... 0.27% 0.36% 0.39% 0.45% 0.70%
Ratio of Quarterly Net Charge-offs to Average
Loans, annualized .................................. 0.02% 0.01% 0.61% 0.26% 0.20%
Ratio of YTD Net Charge-offs to Average Loans,
annualized ......................................... 0.20% 0.30% 0.61% 0.26% 0.26%
Earning Assets to Total Assets ...................... 93.41% 92.59% 91.46% 94.04% 93.50%
Earning Assets to Interest-Bearing Liabilities ...... 136.55% 134.78% 134.59% 134.46% 129.99%
Capital Ratios:
Leverage .................................. 7.78% 7.42% 8.04% 8.48% 8.98%
Tier 1 Risk Based Capital ................. 10.99% 10.08% 10.57% 10.72% 11.63%
Total Risk Based Capital .................. 14.65% 11.88% 12.41% 12.58% 13.54%
Risk Weighted Assets ................................ $ 1,055,323 $ 1,012,545 $ 943,348 $ 898,734 $ 829,131
Book Value Per Share ................................ $ 9.28 $ 8.69 $ 8.55 $ 8.23 $ 8.29
Total Shares Outstanding ............................ 9,584,634 9,489,134 9,395,764 9,303,930 9,224,152
</TABLE>
Note: Prior periods have been restated to reflect the mergers between Greater
Bay Bancorp and Peninsula Bank of Commerce and Pacific Rim Bancorporation (the
parent of Golden Gate Bank), and Pacific Business Funding Corporation, on a
pooling-of-interests basis.
<PAGE>
GREATER BAY BANCORP
SEPTEMBER 30, 1998 - FINANCIAL SUMMARY
($ IN 000'S, EXCEPT SHARE AND PER SHARE DATA)
SELECTED QUARTERLY CONSOLIDATED OPERATING DATA:
<TABLE>
<CAPTION>
THIRD SECOND FIRST FOURTH THIRD
QUARTER QUARTER QUARTER QUARTER QUARTER
1998 1998 1998 1997 1997
----------- ----------- ------------ ----------- -----------
<S> <C> <C> <C> <C> <C>
Interest Income ....................................... $ 29,861 $ 27,510 $ 25,560 $ 24,853 $ 23,024
Interest Expense ...................................... 12,953 11,592 10,432 9,616 8,845
----------- ----------- ------------ ----------- -----------
Net Interest Income before Provision for
Loan Losses ............................... 16,908 15,918 15,128 15,237 14,179
Provision for Loan Losses ............................. 1,791 1,347 996 1,109 1,284
----------- ----------- ------------ ----------- -----------
Net Interest Income after Provision for
Loan Losses ............................... 15,117 14,571 14,132 14,128 12,895
Other Income:
Trust Fees ............................................ 642 617 550 603 550
Depositor Service Fees ................................ 361 349 420 394 433
Loan Fees ............................................. 165 190 146 152 160
Gain on Sale of SBA Loans ............................. 290 221 244 269 216
Gain/(loss) on Investments ............................ 4 42 8 25 5
Other Income (1) ...................................... 65 152 (339) 116 167
----------- ----------- ------------ ----------- -----------
1,527 1,571 1,029 1,559 1,531
Nonrecurring - Warrant Income ......................... 134 -- 497 14 34
----------- ----------- ------------ ----------- -----------
Other Income ........................................ 1,661 1,571 1,526 1,573 1,565
Operating Expenses:
Compensation and Benefits ............................. 5,753 5,729 5,426 5,449 5,137
Occupancy and Equipment ............................... 1,542 1,535 1,389 1,357 1,391
Professional Services & Legal ......................... 403 377 385 417 526
Client Services ....................................... 122 131 151 80 83
FDIC Insurance and Assessments ........................ 88 77 89 73 70
Other Real Estate, Net ................................ 43 (8) 24 25 (10)
Other Expenses ........................................ 1,740 1,431 1,618 2,164 1,294
----------- ----------- ------------ ----------- -----------
9,691 9,272 9,082 9,565 8,491
Nonrecurring Expenses (2) ............................. 192 -- 701 -- --
----------- ----------- ------------ ----------- -----------
Total Operating Expenses ............................ 9,883 9,272 9,783 9,565 8,491
----------- ----------- ------------ ----------- -----------
Income before Income Taxes & Merger and Other Related
Nonrecurring Costs .......................... 6,895 6,870 5,875 6,136 5,969
Income Tax Expense .................................... 2,141 2,334 1,896 2,045 2,147
----------- ----------- ------------ ----------- -----------
Income before Merger and Other Related Nonrecurring
Costs ....................................... 4,754 4,536 3,979 4,091 3,822
Merger and Other Related Nonrecurring Costs,
net of tax .................................. 360 1,314 -- 2,282 --
----------- ----------- ------------ ----------- -----------
Net Income ................................ $ 4,394 $ 3,222 $ 3,979 $ 1,809 $ 3,822
=========== =========== ============ =========== ===========
</TABLE>
SELECTED QUARTERLY CONSOLIDATED OPERATING RATIOS:
<TABLE>
<CAPTION>
THIRD SECOND FIRST FOURTH THIRD
QUARTER QUARTER QUARTER QUARTER QUARTER
1998 1998 1998 1997 1997
----------- ----------- ------------ ----------- -----------
<S> <C> <C> <C> <C> <C>
Income Per Share (3) (4) (before merger and other
related nonrecurring items)
Basic ..................................... $ 0.50 $ 0.48 $ 0.43 $ 0.44 $ 0.41
Diluted ................................... $ 0.47 $ 0.44 $ 0.39 $ 0.41 $ 0.38
Net Income Per Share (3) (4)
Basic ..................................... $ 0.46 $ 0.34 $ 0.43 $ 0.20 $ 0.41
Diluted ................................... $ 0.43 $ 0.31 $ 0.39 $ 0.18 $ 0.38
Weighted Average Common Shares Outstanding (4) ...... 9,525,000 9,460,000 9,356,000 9,266,000 9,220,000
Weighted Average Common & Common Equivalent
Shares Outstanding (4) .................... 10,223,000 10,254,000 10,254,000 10,078,000 9,943,000
Return on Quarterly Average Assets, annualized (5) .. 1.27% 1.32% 1.30% 1.43% 1.41%
Return on Quarterly Average Equity, annualized (5) .. 21.79% 22.55% 20.84% 21.31% 19.54%
Net Interest Margin - Average Earning Assets ........ 4.76% 5.03% 5.22% 5.73% 5.68%
Operating Expense Ratio (before Merger and Other
Related Nonrecurring Items) ............... 2.58% 2.70% 2.97% 3.34% 3.14%
Efficiency Ratio (before Merger and Other Related
Nonrecurring Items) ....................... 52.57% 53.02% 56.21% 56.95% 54.05%
</TABLE>
(1) Q1 and Q3 of 1998 includes a $700,000 and $100,000 write-down of an equity
investment in accordance with APB 18, respectively.
(2) Q1 and Q3 of 1998 nonrecurring expenses are comprised of a $701,000 and
$192,000 donation to the GBB Foundation, respectively.
(3) Net income per share for prior periods have been restated as required by the
adoption of SFAS No. 128. In accordance with the newly adopted accounting
standard, Net income Per Share is now presented on a Basic and Diluted
basis.
(4) Restated to reflect the 2-for-1 stock split declared for shareholders of
record as of April 30, 1998.
(5) Before Merger and Other Related Nonrecurring Costs of $360,000, net of tax,
in Q3 of 1998, $1.31 million, net of tax, in Q2 of 1998 and $2.28 million,
net of tax, in Q4 of 1997.
Note: Prior periods have been restated to reflect the mergers between Greater
Bay Bancorp and Peninsula Bank of Commerce and Pacific Rim Bancorporation (the
parent of Golden Gate Bank), and Pacific Business Funding Corporation, on a
pooling-of-interests basis.
<PAGE>
GREATER BAY BANCORP
SEPTEMBER 30, 1998 - FINANCIAL SUMMARY
($ IN 000'S, EXCEPT SHARE DATA)
SELECTED YEAR TO DATE CONSOLIDATED OPERATING DATA:
<TABLE>
<CAPTION>
SEPTEMBER 30, SEPTEMBER 30,
1998 1997
------------- -------------
<S> <C> <C>
Interest Income ............................................................... $ 82,931 $ 62,982
Interest Expense .............................................................. 34,977 24,132
----------- -----------
Net Interest Income Before Provision for Loan Losses ................ 47,954 38,850
Provision for Loan Losses ..................................................... 4,134 5,677
----------- -----------
Net Interest Income After Provision for Loan Losses ................. 43,820 33,173
Other Income (1) .............................................................. 4,128 4,306
Nonrecurring - Warrant Income ................................................. 631 1,148
----------- -----------
Total Other Income .......................................................... 4,759 5,454
Operating Expenses ............................................................ 28,046 24,497
Other Expenses - nonrecurring (2) ............................................. 893 (1,287)
----------- -----------
Total Operating Expenses .................................................... 28,939 23,210
----------- -----------
Income before Income Taxes & Merger and Other Related Nonrecurring Costs ...... 19,640 15,417
Income Tax Expense ............................................................ 6,371 5,670
----------- -----------
Income before Merger and Other Related Nonrecurring Costs ..................... 13,269 9,747
Merger and Other Related Nonrecurring Costs, net of tax ....................... 1,674 --
----------- -----------
Net Income ........................................................ $ 11,595 $ 9,747
----------- -----------
</TABLE>
SELECTED YEAR TO DATE CONSOLIDATED OPERATING RATIOS:
<TABLE>
<CAPTION>
SEPTEMBER 30, SEPTEMBER 30,
1998 1997
------------- -------------
<S> <C> <C>
Income Per Share (3) (4) (before merger and other related
nonrecurring costs)
Basic ............................................................... $ 1.40 $ 1.06
Diluted ............................................................. $ 1.30 $ 1.00
Net Income Per Share (3) (4)
Basic ............................................................... $ 1.23 $ 1.06
Diluted ............................................................. $ 1.14 $ 1.00
Weighted Average Common Shares Outstanding (4) ................................ 9,448,000 9,181,000
Weighted Average Common & Common Equivalent Shares Outstanding (4) ............ 10,204,000 9,790,000
Return on Average Assets, annualized (5) ...................................... 1.30% 1.29%
Return on Average Equity, annualized (5) ...................................... 21.74% 17.85%
Net Interest Margin - Average Earning Assets .................................. 5.00% 5.53%
Operating Expense Ratio (before Merger and Other Related Nonrecurring Costs) .. 2.74% 3.25%
Efficiency Ratio (before Merger and Other Related Nonrecurring Costs) ......... 53.85% 56.76%
</TABLE>
(1) Q1 and Q3 of 1998 includes a $700,000 and $100,000 write-down of an equity
investment in accordance with APB 18, respectively.
(2) Q1 and Q3 of 1998 nonrecurring expenses are comprised of a $701,000 and
$192,000 donation to the GBB Foundation, respectively. Q1 of 1997
nonrecurring expenses includes $413,000 in nonrecurring charges as well as a
$1.70 million recovery from GBB's insurance coverage related to the $1.70
million legal settlement charge that occurred in the second quarter of 1995.
(3) Net income per share for prior periods have been restated as required by the
adoption of SFAS No. 128. In accordance with the newly adopted accounting
standard, Net income per share is now presented on a Basic and Diluted
basis.
(4) Restated to reflect the 2-for-1 stock split declared for shareholders of
record as of April 30, 1998.
(5) Before Merger and Other Related Nonrecurring Costs of $360,000, net of tax,
in Q3 of 1998, $1.31 million, net of tax, in Q2 of 1998.
Note: Prior periods have been restated to reflect the mergers between Greater
Bay Bancorp and Peninsula Bank of Commerce and Pacific Rim Bancorporation (the
parent of Golden Gate Bank), and Pacific Business Funding Corporation, on a
pooling-of-interests basis.
<PAGE>
EXHIBIT 99.2
Press Release dated October 14, 1998
For Immediate Release For Information Contact
- --------------------- -----------------------
October 14, 1998 David L. Kalkbrenner, President & CEO
(650) 614-5767
Steven C. Smith, EVP, COO & CFO
(650) 813-8222
GREATER BAY BANCORP ANNOUNCES
APPOINTMENT OF GENERAL COUNSEL
......
PALO ALTO, CA; October 14, 1998 - Greater Bay Bancorp (NASDAQ:GBBK), a $1.5
billion in assets financial services holding company, today announced the
appointment of Linda M. Iannone as Senior Vice President and General Counsel.
Ms Iannone formerly served as Associate General Counsel of Aames Financial
Corporation, a mortgage banking company located in Los Angeles. Prior to
joining Aames, Ms Iannone was a partner in the corporate, securities and banking
department of the Washington, D.C. office of Manatt, Phelps & Phillips, LLP, a
Los Angeles based law firm. Ms Iannone received her B.A. from Wesleyan
University in 1979 and her J.D. from Cornell Law School in 1982.
Greater Bay Bancorp and its financial services subsidiaries, Cupertino
National Bank, Mid-Peninsula Bank, Peninsula Bank of Commerce, Golden Gate Bank,
along with its operating divisions, Greater Bay Bank Santa Clara Valley
Commercial Banking Group, Greater Bay Corporate Finance Group, Greater Bay
International Banking Division, Greater Bay Trust Company, Pacific Business
Funding and Venture Banking Group, serve clients throughout Silicon Valley and
the San Francisco Peninsula with offices located in San Jose, Cupertino, Palo
Alto, Redwood City, San Mateo, Millbrae, San Bruno, San Francisco and Walnut
Creek.
"WE INVEST IN RELATIONSHIPS"
