Monday, May 08, 2006

Business Bank Increases Giving By 60 Percent

LAS VEGAS - Business Bank of Nevada announced it will immediately increase its monetary budget for charitable contributions by 60 percent, which brings the Bank's total monetary donations for the year to more than $56,000.

The increase brings the Bank's monetary support for philanthropic outreach to the equivalent of one percent of its net after-tax profits for the pervious year.

The bank will also donate another one percent of its net-after-tax profits in in-kind and volunteer support to the communities it serves in Nevada. Last year, the Bank donated over 1,200 hours of volunteer services to various nonprofit groups and a number of at-risk schools in Nevada, as well as thousands of dollars of retired computer and office equipment to dozens of qualified community-based organizations. The Bank is committed to donating at least two percent of its net after-tax profits in monetary, in-kind and volunteer support.

"Increasing our charitable contributions budget was an easy decision for everyone involved," said Business Bank President and CEO John Guedry. "We recognize that our success is closely tied to the communities we serve, which is why philanthropic outreach is an integral part of our overall business goals and philosophy."

Guedry added that community outreach is all about helping build better communities, which can be achieved in a number of ways either through charitable grants, various lending programs and volunteerism. "Companies that are recognized as good corporate citizens have a vested interest in helping their communities become better places to live, work and play. They also know that a commitment to philanthropic outreach fosters greater loyalty among their employees and customers."

Business Bank is FDIC Insured and is a member of the Federal Reserve Bank of San Francisco. Its stock is listed on the Over The Counter Bulletin Board (OTCBB) at ticker symbol BBNV. Additional information about Business Bank, including five quarters of detailed financial data, is available on the Bank's Web site at www.bbnv.com.

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