SCVBank Reports Results of Treasury Auction of TARP

SCVBank Reports Results of Treasury Auction of TARP

SANTA PAULA, Calif.--(BUSINESS WIRE)-- Scott K. Rushing, Chairman of Santa Clara Valley Bank, announced that the auction of Santa Clara Valley Bank's TARP preferred stock by the United States Treasury closed February 28, 2013 with Guy Cole as the successful bidder for 100% of the shares.

Mr. Rushing added that he was "pleased that this transaction achieved the goals of the bank to maintain local ownership." Ms. Cheryl L. Knight, President & Chief Executive Officer, added, "It's good to see repayment of the Treasury and good for the bank by reducing related restrictions and reporting." She expressed her appreciation to the Cole family for their continued support.

Founded in 1998, SCVBank currently operates three branches in Santa Paula, Fillmore, and Valencia. Under its stock symbol of SCVE, SCVBank's stock is traded through McAdams Wright Ragen, Raymond James & Associates Inc., and Monroe Securities. The Bank's web site is

Santa Clara Valley Bank Corporation Headquarters

901 East Main Street

Santa Paula, California 93060

805 525-1999

Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, the effect of interest rate changes, and the ability to control costs and expenses, the impact of consolidation in the banking industry, financial policies of the United States government, and general economic conditions.

Santa Clara Valley Bank
Cheryl Knight
President & Chief Executive Officer
(805) 525-1999
Fred Antrim
Senior Vice President & Chief Financial Officer
(805) 525-1999

KEYWORDS: United States North America California


The article SCVBank Reports Results of Treasury Auction of TARP originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.