SOURCE: Bridge Capital Holdings

Bridge Capital Holdings

December 16, 2010 13:30 ET

Bridge Bank Extends $5 Million in Financing to Coast Radio Company, Inc.

SAN JOSE, CA--(Marketwire - December 16, 2010) - Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, National Association, a full service professional business bank headquartered in Silicon Valley, announced today it has provided a $4,500,000 term loan and a $500,000 line of credit to Coast Radio Company. The loans will be used to support and expand the company's operations. 

"We are very pleased to be working with Bridge Bank," said Jim Levitt, Chairman of Coast Radio Company. "They listened to our needs and responded with a credit facility that is both creative and provides the increased flexibility and liquidity we were looking for. We found Bridge to be a bank where you get a chance to know everyone and an opportunity to build relationships with the key players." Levitt adds, "With Bridge it also mattered who was standing behind the loan and I think that gave them the confidence to go the extra mile."

"We consider Coast Radio to be one of our marquee accounts and we are thrilled to be a part of Coast's continued success," said Sarah Norris, Vice President, Corporate Banking Group at Bridge Bank.

Coast Radio Company is owned by San Jose natives Jim and John Levitt. Jim and John are brothers and second generation broadcasters. Coast Radio Company owns and operates three radio stations, 95.3 KUIC and 101.7 KKIQ, and 92.1 KKDV, in the Far East Bay market. Consistent with the Levitts' background and past success in radio, the key differentiating component to Coast's on air product is a family oriented format that is designed to reach adult listeners with adult contemporary music, and a heavy focus on local information relevant to the lives of individuals in the Far East Bay. 

About Coast Radio Company, Inc.
Coast Radio was established in 1998 and is headquartered in Vacaville, CA. Coast Radio has three FM stations licensed by the Federal Communications Commission to the Far East bay market. Each station's programming goal is designed to super serve the local communities reached. For more information, visit Coast Radio's stations on the web at www.kkiq.com, www.kuic.com and www.kkdv.com.

About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National Association. Bridge Capital Holdings was formed on October 1, 2004 and holds a Global Select listing on The NASDAQ Stock Market under the trading symbol BBNK. For additional information, visit the Bridge Capital Holdings website at www.bridgecapitalholdings.com.

About Bridge Bank, N.A.
Bridge Bank, N.A. is Silicon Valley's full-service professional business bank. The Bank is dedicated to meeting the financial needs of small, middle-market, and emerging technology businesses. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers. Visit Bridge Bank on the web at www.bridgebank.com.

Forward-Looking Statements

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Company, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.

Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic, real estate and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; new litigation or changes in existing litigation; future credit loss experience; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies; and the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control.

The reader should refer to the more complete discussion of such risks in Bridge Capital Holdings' annual reports on Forms 10-K and quarterly reports on Forms 10-Q on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.