SOURCE: Bridge Capital Holdings
SAN JOSE, CA--(Marketwired - Apr 4, 2013) - Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, National Association, a full-service professional business bank headquartered in Silicon Valley and with offices located nationwide, announced today that it has provided Single Digits with a financing agreement to help further support capital growth opportunities as the company expands its services for high speed guest internet and business class wireless network solutions.
"Single Digits is about helping our clients boost revenue and strengthen customer loyalty," said Robert Goldstein, Single Digits founder and CEO. "We believe Bridge Bank's strong strategic fit with our mission will allow us to deliver on that commitment. Bridge Bank is a perfect partner and invaluable resource at this critical stage in our growth."
"Increased traffic is requiring an upgrade on networks in order to support back office infrastructure and delivery of applications. Single Digits is well-positioned to take advantage of this trend and we're excited to be able to support the continued growth of their innovative work as they expand the breadth of their services beyond the hospitality and services industry," said Dick Sweeney, senior vice president and market manager in Bridge Bank's Technology Banking Division.
Single Digits, headquartered in Manchester, N.H., is a leading global provider of high speed internet access (HSIA) management and support solutions, guest management software and technical support services including components of internet protocol network design, engineering, professional services, ongoing maintenance, networking monitoring, multi-lingual support, revenue reporting and authentication tracking.
Bridge Bank specializes in providing superior service and customized banking solutions to small, middle-market and emerging technology businesses in Silicon Valley, California, and throughout the United States. The bank's product offerings include 24/7 internet-based business cash and treasury management, on-line account statement and item imaging, remote deposit capture, commercial lines of credit, growth capital financing, construction loans, Small Business Administration 7(a) and 504 loans as an SBA Preferred Lender Participant-accredited direct lender, and factoring and asset-based loans through its Bridge Capital Finance Division.
About Single Digits
Single Digits software ensures that laptops, smartphones, tablets and other WiFi-enabled devices, are securely connected to the Internet and managed via traditional IT infrastructures and new cloud-based services and applications. Single Digits' Business Access Portal™ allows businesses to deliver Their Own Brand of HSIA service, permitting highly customized, location-based service offerings.
In 2012, Single Digits secured $10 million in venture equity funding from Tudor Growth Equity to be utilized to support the company's rapid growth and product development for ensuring laptops, smartphones, tablets and other WiFi-enabled devices, are securely connected to the Internet and managed and supported vis-à-vis traditional IT infrastructures and new cloud-based services and applications.
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. Recently, Bridge Capital Holdings was admitted to Sandler O'Neill's Class of 2012 "Sm-All Stars" -- a select group of 25 top-performing publicly traded banks and thrifts from throughout the U.S. with market capitalization of up to $2 billion. For additional information, visit the Bridge Capital Holdings website at www.bridgecapitalholdings.com.
About Bridge Bank, National Association
Bridge Bank is a full-service professional business bank founded in the highly competitive climate of Silicon Valley in 2001. From the very beginning, our goal has been to offer small-market and middle-market businesses from across many industries a better way to bank. A less bank-like way to bank. We provide a surprisingly broad range of financial solutions, enabling us to meet our clients' varied needs across all stages -- from inception to IPO and beyond. It's how we go about doing so that differentiates us from our competition.
Learn more at the new www.bridgebank.com. Follow us @BridgeBank.
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.