Bridge Bank Provides $5 Million Credit Facility to Vx Capital Partners
| Quelle: Bridge Capital Holdings
SAN JOSE, CA--(Marketwire - August 11, 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 it has closed a term loan and revolver with Vx Capital Partners to
support the company's expansion in the investment and leasing of aircraft
and aircraft engines.
"Bridge Bank has been a key partner since 2006," says Gary Lew, Principal
of Vx Capital Partners. "Knowing we have a partner like Bridge Bank gives
us greater financial flexibility and capital to take advantage of timely
opportunities as they arise in our market."
Vx, with a primary focus on aircraft finance and investment, works with
airlines and financial institutions to structure and fund innovative
transactions involving aircraft, engines, loan portfolios, and asset backed
securities. The firm has a demonstrated record of buying and selling at
the right time during the industry cycle, and managing assets effectively
through established processes. Since inception in 2002, Vx has structured
and invested approximately $500 million of capital, which represents the
purchase of over 70 aircraft.
"Vx seems to have a knack for recognizing the signals in the market and for
knowing which strategy to use in order to gain the most success," said
Michael Hengl, Senior Vice President, Commercial and Industrial Lending at
Bridge Bank N.A. "We look forward to being part of their growth and
continuing our relationship for years to come."
Bridge Bank specializes in providing superior service and customized
banking solutions to small and middle-market, and emerging technology
business in Silicon Valley, California and the Nation. The Bank's product
offerings include 24/7 internet-based business cash and treasury
management, online account statement and item imaging, remote deposit
capture, commercial lines of credit, growth capital financing, commercial
real estate financing, international Export-Import financing and foreign
exchange payment services, 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 Group.
About Vx Capital Partners
Vx Capital Partners is a private investment firm headquartered in San
Francisco that makes debt and equity investments in commercial aircraft and
related aviation assets. Vx Capital Partners has broad capabilities in
aircraft and engine leasing, and is an active investor in aircraft,
engines, leases and other aviation-related structured products. Visit the
Vx Capital Partners website at www.vxcapital.com.
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 companies, and emerging technology 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.
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.