Greater Bay Bancorp Receives Investment Grade Ratings from Thomson Financial BankWatch

Strategic Insights -

Greater Bay Bancorp, a $3.6 billion financial services holding company, has announced that its wholly-owned subsidiary, Cupertino National Bank, has received investment grade ratings from Thomson Financial BankWatch. The ratings, TBW-2 for short-term debt and BBB- for long-term debt, reflect the bank's strong financial position and ability to meet its debt obligations. This development is significant for Greater Bay Bancorp, as it continues to expand its relationships in the banking and institutional debt markets.

Key Takeaways:

  • Cupertino National Bank, a subsidiary of Greater Bay Bancorp, has been assigned investment grade ratings by Thomson Financial BankWatch, indicating its strong financial position and ability to meet debt obligations.
  • The ratings awarded were TBW-2 for short-term debt and BBB- for long-term debt, reflecting the bank's stable financial condition.
  • Greater Bay Bancorp's eight Northern California subsidiary banks serve clients throughout Silicon Valley, San Francisco, and surrounding regions.
  • David R. Hood, President of Cupertino National Bank, has welcomed the ratings and expressed confidence in the investment and lending communities.
  • The Thomson Financial ratings are expected to positively impact Greater Bay Bancorp's relationships in the banking and institutional debt markets.
  • Greater Bay Bancorp has eight subsidiary banks, including Bay Area Bank, Bay Bank of Commerce, and Peninsula Bank of Commerce.
  • Cupertino National Bank has $1.6 billion in assets, with Cupertino National Bank contributing to Greater Bay Bancorp's total assets of $3.6 billion.

Statistics:

  • Cupertino National Bank has assets valued at $1.6 billion.
  • Greater Bay Bancorp, the parent company, has assets totaling $3.6 billion.
  • Thomson Financial BankWatch has assigned a TBW-2 rating for Cupertino National Bank's short-term debt and a BBB- rating for its long-term debt.
  • Greater Bay Bancorp serves clients across eight Northern California subsidiary banks, with operations spread across Silicon Valley, San Francisco, and surrounding regions.
  • The Securities and Exchange Commission filings of Greater Bay Bancorp include its Annual Report on Form 10-K for the year ended December 31, 1999.

Sources:

  • SEC filings of Greater Bay Bancorp, including its Annual Report on Form 10-K for 1999.
  • Thomson Financial BankWatch.
  • PR Newswire, "Greater Bay Bancorp Announces Additional Debt Ratings" (May 23)