SOURCE: Bridge Capital Holdings

Bridge Capital Holdings

September 23, 2009 20:00 ET

Bridge Bank Provides $10 Million Credit Facility to Pandora Media

Credit Commitment Made in Conjunction With Close of New Equity Round

SAN JOSE, CA--(Marketwire - September 23, 2009) - Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, National Association, a full-service professional business bank headquartered in Silicon Valley, announced today that its Technology Banking Division has established a $10,000,000 Line of Credit with Pandora Media, Inc. to provide working capital for continued growth.

"We congratulate Pandora on their overall business success and the closing of their most recent round of equity," said Daniel P. Myers, President and Chief Executive Officer of Bridge Bank and Bridge Capital Holdings. "Pandora is a clear leader in the exciting internet media business sector and we at Bridge Bank are pleased to have delivered a creative solution that provides the company access to working capital as they continue to grow their business."

Pandora (www.pandora.com) is a personalized Internet radio and music discovery service available anytime and anywhere on the PC, in the home, and on mobile devices (including the iPhone, Palm Pre, BlackBerry smartphones and Android platform devices) via partnerships with AT&T, Apple, RIM and Sprint. Pandora is based on the Music Genome Project, which began in 2000, and is the most thorough analysis of popular music ever undertaken. Each song in this massive collection is analyzed by one of more than 35 trained musicians, and assessed against up to nearly 400 distinct musical attributes such as melody, harmony, and rhythm to capture its unique musical identity. Using this information to build playlists based on musical similarity, listeners can simply enter a favorite song or artist, and instantly launch a personalized listening experience which includes discovery of new bands, artists and songs. Pandora is the largest online music site based on monthly unique visitors, has a growing user base of more than thirty-five million registered listeners, a database of over 700,000 songs, and national advertisers such as Levi's, Best Buy, Target, Honda, Procter & Gamble, and Nike.

"We're thrilled to forge this new relationship with Bridge Bank," said Joe Kennedy, CEO and President of Pandora. "With their support, we're looking forward to increased financial flexibility and resources to enhance our ongoing growth."

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 and middle-market businesses in Silicon Valley, Northern California, and the Nation. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers. For additional information, visit the Bridge Bank website at www.bridgebank.com.

About Bridge Bank Technology Banking Division

The Bridge Bank Technology Banking Division serves venture and non-venture backed companies from inception to IPO. The Division's product offering includes growth capital loans, equipment and working capital financing, along with a full line of treasury management solutions, International products and services, and financing secured by domestic, government, and foreign receivables. In today's virtual world, you can count on Bridge Bank for responsive and personalized service anywhere you do business.

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.