SAN DIEGO, Nov. 20 /PRNewswire/ -- Bank of Commerce (Nasdaq: BCOM) today
announced it has achieved the number one ranking among all lenders in
California for Small Business Administration (SBA) loans in fiscal
1998 (federal fiscal year ended September 30). The Bank is also ranked number
one in the state in loans to Hispanic business owners.
In California, Bank of Commerce funded a record $139 million in loans
during fiscal 1998, $20 million higher than the second largest California
lender. "We believe access to capital is an extremely important factor in
business success which generates strong growth in our state and contributes to
vibrant communities. The opportunity for individuals to own their own
business is one of the cornerstones of our economic strength, and we are very
pleased to be a contributor to the small business success in this country,"
stated Peter Q. Davis, President and CEO.
Bank of Commerce is one of the nation's leading small business lenders,
providing over $220 million in SBA loans to small businesses nationwide during
fiscal 1998, a 24% increase over last year's volumes. Typical businesses
receiving SBA-guaranteed loans through Bank of Commerce include professional
service firms, manufacturing operations, wholesale/distributors and retail
operations. As a SBA Preferred Lender, the Bank approves loans on behalf of
the SBA, thus streamlining the entire loan process. Bank of Commerce has been
an active SBA lender for 23 years and was among the first banks to participate
with SBA, which will facilitate the lending of approximately $9 billion to
small businesses in fiscal 1998.
Bank of Commerce is one of the nation's leading SBA lenders and the
largest publicly-held independent bank headquartered in San Diego County. The
bank operates 19 loan production offices in San Diego, Fresno, Glendale,
Orange, Sacramento, and San Francisco, CA; Las Vegas and Reno, NV; Phoenix and
Tucson, AZ; Seattle, WA; Portland, OR; Denver, CO; Atlanta, GA; Salt Lake
City, UT; Dallas -- Fort Worth, Houston, Austin, and San Antonio, TX. In
addition, Bank of Commerce operates ten full service branches in San Diego,
Del Mar, Vista, Carlsbad, Temecula, Palm Desert, and Orange, California.
SOURCE Bank of Commerce
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Related links:
http://www.bankofcommerce.net
Company News On-Call:
http://www.prnewswire.com/comp/123798.html or fax,
800-758-5804, ext. 123798
CONTACT:
Peter Q. Davis, Chairman & CEO, or Margaret
Kuhn, First VP/Investor Relations, of the Bank of Commerce,
619-232-2096
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