Bridge Bank Provides $6 Million Credit Facility to Fortress International Group
May 22 2013 - 9:00AM
Marketwired
Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge
Bank, a full-service professional business bank headquartered in
Silicon Valley and with offices located nationwide, announced today
that it recently provided a $6 million line of credit to Fortress
International Group (OTC: FIGI).
"We turned to Bridge Bank as a partner for this line of credit
after several frustrating experiences with other banks, who did not
fully appreciate our business and its potential. They were
flexible, professional, and efficient, and we appreciate the
confidence that Bridge Bank demonstrated in our service portfolio,"
said Anthony Angelini, CEO, Fortress International Group. "As
Fortress continues to execute our strategic business plan, this
line of credit provides an additional source of liquidity for our
investments and working capital requirements, and we believe that
it will serve as a solid foundation to assist our expected future
growth," Angelini added.
"When Fortress International Group came to us, they were
disappointed with recent experiences they had had with other
banks," said Paul Gibson, senior vice president and market manager
for Bridge Bank's East Coast Technology Banking Division. "We were
able to work quickly to learn about Fortress's business, assess
their needs, and tailor this flexible credit solution in just under
six weeks. We are confident in the company's new leadership and
firmly believe that Fortress is poised for success. We are
delighted to be a part of their new success story," Gibson
added.
About Fortress International Group,
Inc.
Fortress International Group, Inc. is leading mission-critical
facilities into a new era of maximum uptime and efficiency.
Fortress provides consulting and engineering, construction
management and 24/7/365 site services for the world's most
technology dependent organizations. Serving as a trusted advisor,
Fortress delivers the strategic guidance and pre-planning that
makes every stage of the critical facility lifecycle more
efficient. For those who own, lease or manage mission-critical
facilities, Fortress provides innovative end-to-end capital
management, energy, IT strategy, procurement, design, construction,
implementation and operations solutions that optimize performance
and reduce cost.
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
Bridge Bank is a full-service professional business bank
dedicated to meeting the financial needs of small, middle market,
and emerging technology businesses located throughout the U.S.
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 additional information, visit the Bridge Bank website at
www.bridgebank.com or follow us @BridgeBank.
Forward-Looking Statements
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 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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