SOURCE: Bridge Capital Holdings

Bridge Capital Holdings

November 09, 2010 13:30 ET

Bridge Bank Provides $500,000 Financing to Deaf-Owned Convo Communications

SAN JOSE, CA--(Marketwire - November 9, 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 extended a $500,000 line of credit to Convo Communications to support its anticipated growth.

"With this financing, the Company can make capital purchases and spending as to scale its operations commensurate with anticipated growth, all without assistance from outside investors," said Robin Horwitz, who is deaf and the CEO of Convo. "This loan will allow us to both maintain our independence and identity as a deaf-owned company and at the same time allows us to better compete in the market."

Convo is a provider of 24/7 video relay services (VRS), which enable deaf and hard of hearing people who use sign language to convo with hearing people via phone by utilizing true-to-life video connection with specially trained sign language interpreters. It recently launched Convo Anywhere, a cloud-based Web application that is a major addition to its product and service offerings. "Convo Anywhere is a leap forward in accessibility and is quickly becoming our signature product. Accordingly, we anticipate tremendous growth in Year 2011 and are grateful to Bridge Bank for their support and creativity in making this funding possible," said Horwitz.

"Convo is a one-of-a-kind company in its sector and commands the respect of industry analysts, customers, and other deaf-owned businesses," said Lyndon Conaway, Assistant Vice President, Bridge Capital Finance Group. Convo was founded in March 2009 and has since grown to four call centers and gross revenues close to $4 million for 2010. 

About Convo Communications
Convo Communications is a deaf-owned provider of 24/7 video relay services, which enables deaf and hard of hearing people who use sign language to convo with hearing people over the phone. Its services allow deaf and hard of hearing people civic and consumer participation and can be accessed via web browser, videophone or instant messenger. For further information, go to www.convorelay.com or follow via Facebook and Twitter at convorelay.

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.