Santa Clara Valley Bank (SCVE) Revises 2009 Q3 Financial Results

Santa Clara Valley Bank (OTC: SCVE) reported revised financial results for the nine months ended September 30, reflecting higher levels of provisioning for loan losses, which increased the net loss for the quarter. SCVBank recorded a net loss for the third quarter 2009 of $1,436,000 compared to a net profit of $1.6M for the period a year earlier.

SVB Financial Group (SCVE) is a diversified financial services company, as well as a bank holding company and financial holding company. Through the Company’s various subsidiaries and divisions, it offers a range of banking and financial products and services.