By Market Wire, February 27, 2013, 09:00:00 AM EDT
SAN JOSE, CA -- (Marketwire) -- 02/27/13 --
Bridge Capital Holdings (NASDAQ:BBNK), whose subsidiary, Bridge Bank, National Association, a full-service professional business bank headquartered in Silicon Valley with offices located nationwide, announced today that it has provided PowerAdvocate with a multi-million dollar financing facility to support capital growth as the company expands its presence in the energy sector and enters new markets.
"We are pleased to be working with Bridge Bank," said Dan Sullivan, chief executive officer for PowerAdvocate, a leading SaaS provider of big data analytics solutions for energy companies that enable enterprise improvement through supply market data. "As we continue to invest in creating ever-expanding value for our customers, it is important that we have the right financing partner. Bridge Bank truly understood our business and provided us with a flexible financing solution to match our needs. It was a unique financing experience. They are very, very attuned to evolving technology company needs."
"PowerAdvocate has done a tremendous job of building their company from the ground up, funding their own growth," said Dick Sweeney, senior vice president and market manager in Bridge Bank's Technology Banking Division. "We're extremely excited about our partnership with PowerAdvocate -- they have a substantial opportunity to expand in their market. We are proud to be associated with this fast-paced company and we're excited to be part of their growth and continued success."
In an environment in which companies are increasingly focused on cost structure and the efficient use of capital, PowerAdvocate delivers data-driven technology solutions that provide insight into real-time supply market conditions and that enable customers to make better and more informed operational decisions. We deliver intelligence from our $1 Trillion Energy FactBase through our SaaS Energy Intelligence Platform®, giving the energy professional ready access to actionable information. In addition to our Energy Intelligence Platform, our client services team of technical and seasoned professionals plays an integral role in capital projects and O&M at a number of Fortune 500 energy companies. PowerAdvocate's technical expertise creates a culture that is rooted in delivering significant, measurable results for your organization.
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. Bridge Bank Holding Company was recently 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, National Association is Silicon Valley's full-service professional business bank. The Bank is dedicated to meeting the financial needs of small, middle market, and emerging technology businesses. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers. Bridge Bank's Technology Banking Division serves venture-backed and non venture-backed companies from inception to IPO. Bridge Bank's product offering includes growth capital, equipment and working capital credit facilities and treasury management solutions, along with a full line of international products and services and financing secured by domestic, government and foreign receivables. For details, visit www.bridgebank.com.
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.
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Source: Bridge Capital Holdings