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EXHIBIT 99.1
Press Release dated August 28, 2000 re Cash Dividend
For Information Contact
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At Greater Bay Bancorp: At Financial Relations Board:
David L. Kalkbrenner Christina Carrabino (general information)
President and CEO James Hoyne (analyst contact)
(650) 614-5767 (415) 986-1591
Steven C. Smith
EVP, CAO and CFO
(650) 813-8222
FOR IMMEDIATE RELEASE
GREATER BAY BANCORP DECLARES 33%
INCREASE IN THIRD QUARTER DIVIDEND
PALO ALTO, CA, August 28, 2000 -- Greater Bay Bancorp (Nasdaq: GBBK), a $4.1
billion in assets financial services holding company, announced today that it
has declared a twenty cent ($.20) per share cash dividend for the third quarter
of 2000.
This dividend represents a 33% increase over the Company's previous quarterly
dividend of fifteen cents ($.15) per share. The cash dividend will be payable
on October 16, 2000, to shareholders of record as of September 29, 2000.
"We are very pleased to announce an increased cash dividend for the third
quarter of 2000," stated David L. Kalkbrenner, President and Chief Executive
Officer of Greater Bay Bancorp. "The Company's solid earnings performance and
strong capital ratios allow us to reward our valued shareholders for their
continued support and confidence."
Greater Bay Bancorp through its nine subsidiary banks, Bank of Santa Clara, Bay
Area Bank, Bay Bank of Commerce, Coast Commercial Bank, Cupertino National Bank,
Golden Gate Bank, Mid-Peninsula Bank, Mt. Diablo National Bank, and Peninsula
Bank of Commerce, along with its operating divisions serves clients throughout
Silicon Valley, San Francisco, the San Francisco Peninsula, the Contra Costa
Tri-Valley Region and the Coastal Market.
Safe Harbor
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 publicly available Securities and Exchange Commission
filings of Greater Bay Bancorp, including its Annua Report on Form 10-K for the
year ended December 31, 1999, and particularly the discussion of risk factors
within such documents.
For investor information on Greater Bay Bancorp at no charge, call our automated
shareholder information line at 1-800-PRO-INFO (1-800-776-4636) and enter code
GBBK. For international access, dial 1-201-432-6555.
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