Business as Usual
SANTA CLARA, Calif., Jan. 4 /PRNewswire/ -- Silicon Valley Bank, a
wholly-owned subsidiary of Silicon Valley Bancshares (Nasdaq: SIVB), is
pleased to announce that the commencement of the Year 2000 resulted in no
interruptions in the delivery of innovative financial services to our clients.
Silicon Valley Bank developed and carried out an aggressive Y2K testing
process which included computer program upgrades, mission critical and
non-mission critical system testing and contingency planning. The Year
2000 team tested all of the Bank's date-sensitive mission critical computer
systems and third party relationships to identify and correct any potential
issues prior to the century date change. The Bank met all compliance
milestones.
"The Bank's Y2K mission was to put clients first. The years of planning
and testing to ensure that our systems were ready for the new millennium,
resulted in our successfully providing uninterrupted services to our clients,"
said John Dean, CEO of Silicon Valley Bank.
"Silicon Valley Bank has always provided us with excellent client care and
Y2K was no exception," said Jinee C. Tao, Co-Founder and Chief Executive
Officer of Cardstore.com. "We didn't have any worries with respects to Y2K nor
did we have any interruptions in service."
Silicon Valley Bank serves emerging growth and middle-market companies in
targeted niches, focusing on the technology and life sciences industries,
while also identifying and capitalizing on opportunities to serve companies in
other industries whose financial services needs are underserved.
The Bank operates offices throughout Silicon Valley: Santa Clara,
Palo Alto and Sand Hill, the center of the venture capital community in
California. Other regional offices within California include Irvine,
Los Angeles, Napa, San Diego, San Francisco, Sonoma and Santa Barbara. Office
locations outside of California include: Phoenix, Arizona; Boulder, Colorado;
Atlanta, Georgia; Chicago, Illinois; Minneapolis, Minnesota; Boston,
Massachusetts; Northern Virginia; Portland, Oregon; Philadelphia,
Pennsylvania; Austin, Texas; and Seattle, Washington.
More information about Silicon Valley Bank and SVB's Y2K efforts can be
found at http://www.svb.com.
SOURCE Silicon Valley Bank
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Related links:
http://www.svb.com
Company News On-Call:
http://www.prnewswire.com/comp/107034.html or fax,
800-758-5804, ext. 107034
CONTACT:
Public Relations, David Grandey,
408-998-5433, for Silicon Valley Bank; or Andrea McGhee of
Silicon Valley Bank, 408-654-3078
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