SOURCE: North Valley Bancorp

July 13, 2005 17:00 ET

North Valley Bancorp Added to New Russell Microcap Index

REDDING, CA -- (MARKET WIRE) -- July 13, 2005 -- North Valley Bancorp (NASDAQ: NOVB) today announced it has been added to the Russell Microcap™ Index.

The newly launched Russell Microcap Index, which debuted on July 1, 2005, is comprised of the smallest 1,000 securities in the small-cap Russell 2000™ Index along with the next smallest 1,000 companies, based on a ranking of all U.S. equities by market capitalization.

The index offers portfolio managers and other investors a comprehensive, unbiased barometer to compare their performance against the genuine microcap marketplace of stocks. Russell recently posted the complete index membership list at www.russell.com/US/Indexes.

"We are pleased with our inclusion in this new index," stated President and CEO Mike Cushman. "Our inclusion should help generate greater interest in our stock at an institutional level."

Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Companies on the list represent more than $2.5 trillion in assets. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.

North Valley Bancorp is a multi-bank holding company headquartered in Redding, California. North Valley Bank ("NVB") operates twenty commercial banking offices in Shasta, Humboldt, Del Norte, Mendocino and Trinity Counties in Northern California including two in-store supermarket branches and two Business Banking Centers. NVB Business Bank operates five commercial banking offices in Yolo, Solano, Sonoma, Placer and Mendocino Counties in Northern California. North Valley Bancorp, through its subsidiary banks, offers a wide range of consumer and business banking deposit products and services including internet banking and cash management services. In addition to these depository services, North Valley Bank and NVB Business Bank engages in a full complement of lending activities including consumer, commercial and real estate loans. NVB has SBA Preferred Lender status and provides investment services to its customers through an affiliated relationship. Visit the Company's website address at www.novb.com.

Cautionary Statement: This release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those stated herein. Management's assumptions and projections are based on their anticipation of future events and actual performance may differ materially from those projected. Risks and uncertainties which could impact future financial performance include, among others, (a) competitive pressures in the banking industry; (b) changes in the interest rate environment; (c) general economic conditions, either nationally or regionally or locally, including fluctuations in real estate values; (d) changes in the regulatory environment; (e) changes in business conditions or the securities markets and inflation; (f) possible shortages of gas and electricity at utility companies operating in the State of California, and (g) the effects of terrorism, including the events of September 11, 2001, and thereafter, and the conduct of war on terrorism by the United States and its allies. Therefore, the information set forth herein, together with other information contained in the periodic reports filed by the Company with the Securities and Exchange Commission, should be carefully considered when evaluating the business prospects of the Company. North Valley Bancorp undertakes no obligation to update any forward-looking statements contained in this release.

Contact Information

  • For further information contact:
    Michael J. Cushman
    President & Chief Executive Officer
    (530) 226-2900
    Fax: (530) 221-4877