Silicon Valley Bank is Open for Business as Usual - The Bank's New York Regional Office Will Remain Closed Until Deemed Appropriate to Re-Open

Company News  | 

Santa Clara, CA -- September 12, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announces that it remains open to handle its clients' banking needs.

However, because of yesterday's terrorist attacks in New York, the Bank's New York regional office will remain closed until deemed appropriate to re-open. If you are a client of the New York office, please direct calls to the Bank's Boston office at (617) 630-4100.

All service providers are operating business as usual with the exception of the Client Investments (IPS). IPS may be able to handle limited Money Market Mutual Fund transactions, subject to market availability.

The Bank will also extend the following offerings to its clients until the financial markets re-open:

  • IPS may be able to offer a very limited fixed income security product, subject to market availability.
  • Supplemental Investment Deposit Account
    • No minimum amount.
    • Interest rate of 3.73%.
    • FDIC insured up to $100,000.

Please contact your relationship manager today for more information about these offerings, credit facilities or other financial needs that may arise during this national crisis.

From everyone at Silicon Valley Bank, our prayers and thoughts are with those affected by the horrific tragedy yesterday. Silicon Valley Bank will be holding a blood drive on September 13, 2001 to support all the injured people affected by this national crisis. All blood donations will be directly sent to New York, NY and Washington, DC.

About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus.

The Bank operates throughout the Silicon Valley: Santa Clara, Palo Alto and Sand Hill, the center of the venture capital community in California. Other regional offices within California include: Irvine, Los Angeles, Napa Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington.

SVB Contact: Andrea McGhee, (408) 654-3078, amcghee@svbank.com.

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