SAN JOSE, CA--(Marketwire - March 3, 2010) - Bridge Capital Holdings (
"We are excited to be working with Bridge Bank," said David Shapiro, CEO and President of The Brix Group. "Our company has a long history in asset financing, and we were very impressed with the team at Bridge. In times where financing is very difficult to attain, we found that Bridge Bank demonstrated an understanding of our company and its core businesses. Throughout the entire process we felt they were committed to working with Brix as our partner in financing and the overall experience was very refreshing."
The Brix Group, Inc. is a holding company based in Campbell, CA in the heart of Northern California's Silicon Valley. The company was founded in 1971 by Harry and Mariann Brix to distribute car audio products in the San Francisco Bay area. Since then the company has expanded into a national distributor and value added integrator in the wireless communications and trucking industries. The company recently divided the business into two operating divisions; American Wireless and Pana Pacific Corporation.
"The Brix Group is a leading company in the electronic and wireless communications industry with a long history of success," said Larry LaCroix, Senior Vice President, Capital Finance Group at Bridge Bank." We valued the process of understanding the company's business model and structuring the appropriate credit facility to support The Brix Group's current operations and future growth. We look forward to a long and mutually beneficial relationship with the Company."
About American Wireless
American Wireless (AW) is a nationwide distributor of consumer electronics focused primarily on the wireless and satellite communications industries. As both a distributor and a service and reverse logistics provider, our focus is on leveraging our distribution network to expand the market for our clients. In the mobile communications industry AW pioneered the term "Master Agent". AW is a Master Agent for Sprint and Boost in the consumer and business sectors, providing post-paid and pre-paid wireless equipment and airtime. AW also manages and hosts mobile communications ecommerce sites for Sprint and several other Fortune 500 companies. In the satellite communications sector AW distributes product for DISH satellite and Hughes Network broadband. In 2005, AW established a team to focus on distribution of both retail and bulk PIN airtime for virtually all major mobile service providers.
About Pana Pacific Corporation
Pana Pacific Corporation is based in Fresno, CA and is a leader in value added integration of communication systems to the Commercial Vehicle Industry. For over 37 years the Pana Pacific teams of sales and engineering experts have worked side by side with virtually every major commercial vehicle manufacturer in the country. As more and more information flows through our integrated communication systems, Pana Pacific's customers have come to rely on Pana-Pacific for equipment that provides timely delivery of information critical to the performance of the vehicle. For the thousands of commercial drivers that count on Pana for their in transit entertainment we seek to ensure that the latest technology is always at their fingertips.
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.