August 8, 2000

Matsco Sold to Greater Bay Bank
eLease Management Major Change
Balboa Byrne--Where are You?
Funding Directory
Leasing Company Site
The List

Greater Bay Bancorp Announces Acquisition of the Matsco Companies


PALO ALTO, Calif., Aug. 8 /PRNewswire/ -- Greater Bay Bancorp (Nasdaq: GBBK), a $4.1 billion in assets financial services holding company, announced today that it has signed a definitive agreement to acquire The Matsco Companies Inc. ("Matsco"), a financial services company headquartered in Emeryville, California which specializes in financial services for the dental and veterinary markets. Greater Bay Bancorp will pay the Matsco shareholders $6.5 million in cash and up to an additional $6.0 million in an earn-out arrangement over a 5 year period. The acquisition is subject to regulatory approval and is expected to close in the fourth quarter of this year.


Greater Bay Bancorp anticipates the transaction to be accredited to 2000 earnings, after goodwill amortization and excluding one-time nonrecurring transaction-related expenses. Greater Bay Bancorp has not included any anticipated revenue enhancements that may be realized from the acquisition.

On a pro forma basis as of June 30, 2000, the combined company would have had total assets of approximately $4.3 billion. Including the pending merger with Bank of Petaluma, the company's pro forma assets as of June 30, 2000 would have been $4.5 billion. On a pro forma basis, Matsco, with assets of approximately $170 million, will represent approximately 4% of Greater Bay Bancorp's total assets.
David L. Kalkbrenner, President and Chief Executive Officer of Greater Bay Bancorp, commented, "Matsco brings proven success in a high-demand niche market where it has a significant market share in California, particularly in Northern California. In addition, Matsco will enable Greater Bay Bancorp to expand our ability to grow by cross-selling loan and leasing services to our existing client relationships."
Matthew Shieman, President and Chief Executive Officer of Matsco, who will continue to lead Matsco's operations as part of Greater Bay Bancorp, said, "By joining forces with Greater Bay Bancorp, Matsco will have the ability to expand its capabilities in providing financial products and services to the dental and veterinary markets while also allowing us to focus on the equipment leasing needs of Greater Bay Bancorp's clients located in the San Francisco Bay Area."


Matsco offers a complete range of finance products and services to meet the needs of dentists andveterinarians throughout their professional career. The Company is endorsed exclusively by the American Dental Association (ADA) and California Dental Association (CDA). The principal financial products offered by Matsco include practice start-up financing, practice expansion financing, practice acquisition financing, working capital and financing for retirement planning. These products are structured as either equipment leases or loans.


Greater Bay Bancorp, through its nine subsidiary banks, Bank of Santa Clara, Bay Area Bank, Bay Bank of Commerce, Coast Commercial Bank, Cupertino National Bank, Golden Gate Bank, Mid-Peninsula Bank, Mt. Diablo National Bank, and Peninsula Bank of Commerce, along with its operating divisions, serves clients throughout Silicon Valley, San Francisco, the San Francisco Peninsula, the Contra Costa Tri-Valley Region and the Coastal Market.

Safe Harbor


Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to future financial performance and condition and pending mergers. These forward looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements due to a number of factors, including, but not limited to, when and if the proposed mergers are consummated, the success of Greater Bay Bancorp in integrating the new banks into its organization and other risks detailed in the Greater Bay Bancorp reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 1999.

For investor information on Greater Bay Bancorp at no charge, call our automated shareholder information line at 800-PRO-INFO (800-776-4636) and enter code GBBK.
For international access, dial 201-432-6555.
SOURCE Greater Bay Bancorp
CO: Greater Bay Bancorp; Matsco Companies Inc.
ST: California

Byrne Gone From Balboa? " Say it ain't so, Ray."
Rumor has it from three brokers and one funder that Patrick Byrne, CLP - 50% owner and CEO of Balboa Capital Corporation, Irvine, CA was voted out as CEO by the Board of Directors and no longer "works" for the company. That is very interesting considering it is not a Public company and he owns 50% of the stock.
" Bad boy, bad boy, whatcha gonna do."
I have telephone calls, faxes, e-mail to Balboa to confirm or deny this. On the website, managers for various cities are listed but their e-mail comes back from Scott Hamburg, JimR, Tommy Romero. The web site has completely changed, taking off the founder information and other items concerning Patrick Byrne and the operation of the company. I have in cache the old website and there appears to be a new website.
Right now this is a rumor and I am trying to get confirmation or denial.

eLease Management Let Go
I have verified that several top level people, including Colin Brevik, have been let go at eLease. Performance by this internet staff was not acceptable to the major investor(s). I am told they are actively interviewing for a new CEO and management team. I spoke to one local person who was interviewed for the position, who confirmed new management was being sought for this company.

The Monitor has increased their Funding Directory:
They also have a "search" button for criteria, including "brokers Welcome."

For perhaps the most comprehensive listing of leasing companies and their websites, go to:

I think the Leasing News is a valuable tool to the leasing industry, and applaud your efforts to improve communication within the industry. Keep up the good work.

Mark Speros
Unit Credit Manager
303-329-0227 Ext. 247

36 Leasing Companies Major Changes


American Business Leasing ( gone )
Bankvest (bankrupt)
Bombadier ( reported having problems, not confirmed )
Charter Financial ( purchased by Wells Fargo )
Commerce Security ( closed to leasing broker program )
Copelco ( sold to Citibank )
Dana ( sold off, active as captive )
DVI Capital ( out of broker )
eLease ( management team let go )
Fidelity ( acquired by EAB, a wholly owned subsidiary of ABN AMRO Bank N.V., headquartered in the Netherlands )
Finova ( out of market place )
Franklin Bank ( no more leases )
Imperial ( sold portfolio )
Leasing Corp of America ( for sale below book value )
Leasing Solutions ( bankrupt )
Liberty Leasing ( closed, California company )
Linc Capital ( out of vendor and broker business, Nasdaq halts stock sales )
Matsco Financial ( purchased by Greater Bay Bank )
Merit Leasing ( gone )
METWEST LEASING CO. Spokane WA. ( advising brokers that they have run out of funds so they are unable to fund a transaction we have there for funding. )
Metrolease (reports closing operation, will not confirm nor deny,many rumors floating around the marketplace,will not return telephone calls to )
Nationbank Leasing ( sold to Textron, no longer doing broker business )
New England Capital ( sold to Network Capital Alliance a division of Sovereign Bank. Sovereign did hire two people who will run a sales office in CT, doing basically the same deals with the same people as before. Little will change in that aspect.)
Newcourt ( sold off )
Onset Capital ( Irwin buys 87% equity )
Orrix ( closes small ticket division in Portland, Oregon )
Phoenix ( both divisions )
Prime Capital ( "yes and no" sold off, may be negotiating )
Rockford ( sold to American Express )
SDI ( closed to broker programs )
T&W ( bankrupt, lost their listing )
Transamerica ( sold )
Unicapital ( chairman,CEO,CFO resign, 38 employees cutback, good reports,on comeback trail )
United Capital ( coming back, changes, good reports )
United Leasing ( re-financing )
USA Capital Leasing ( gone )

any corrections or additions, please let me know.

Bulletin Board any comments, corrections, additions, or suggestions are greatly appreciated. ( please not we confirm to the best of our ability before posting information from others ).



( These are postings for informational purposes. Any response, correction, addition, will be posted. We reserve the right to edit or delete any opinion that is not in goodtaste or is outright derogatory ).


Universal Capital reported by Citation Financial 7/19
Universal Capital Cut Off by BSB 7/12
Universal Capital Service 7/5
Parker Leasing and Financing 6/16
Dodson Group complaint 6/15
Universal Capital Service 6/12
Metropolitan Group Question 6/1

Universal Capital reported by Citation Financial


Kit, my company, Citation Financial Group located in Fair Oaks, CA (Sacramento) is one of the companies having a problem with Universal Capital Services. They have not returned a Lessee's advance payment nor have they paid us our commisssion on a brokered transaction. I have sent documents to the NALEB attorney, who is following up on our complaint with UCS. We have also contacted a collection attorney in Florida. If you know of others who have been wronged by these people, please have them contact me. If you want all of the details I will be happy to e-mail them to you. We need to stop companies who make a bad name for the industry.

Allen Greenberg
Citation Financial Group


Bruce Zwillinger, BSB, cuts off Universal Capital Service

Bruce Zwillinger, BSB, cuts off Universal Capital Service, Springhill, Florida informs NAELB of their action. This company not returning money to lessee from deal funding by BSB. Many attempts to get money returned to lessee, but many broker promises by Universal Capital Service.


Universal Capital Services

Source states Universal Capital Services, Springhill, Florida, took up-front fees on deal and has not returned to lessee. Lessee is complaining to funding source. This is the third complaint received on this. Source is trying to find out more and request this be posted on bulletin board. Source will allow us to state name, if this is not resolved.


Parker Leasing

$25,000 SD $29,000 first and last three months did not return money Parker Leasing and Financing, Ft. Lauderdale, Florida no web site, no district attorney complaints, advised to pull a D&B, find out who the secured parties are and if I can identify them, will give them the person to call at the funding source to hear the full story about what is happening. Parker Leasing and Financing refuses to return commitment fee and first and last.


Dodson Group - Delivery Charge

We had been using the Dodson Group for overnight (Airborne) until recently. They were charging us $8.75 per overnight (their cost to Airborne is $7.61, who cares, they deserve a profit). But, in auditing our bills for the last 2 years we kept noticing that we were being repeatedly charged $12.00 to $18.75 for overnight on about 1/3 to 1/2 of the over nights. Initially, Dodson claimed "overweight", so we researched further and discovered that most of the overcharges were on checks going out overnight to vendors and brokers - no way this could be "overweight". For the past year we have faxed and called Dodson repeatedly to get corrected invoices - no one would even respond! So, we put them on notice that we would not pay any more invoices until they corrected their over billing problem - they never did. Their response was to turn us over to a collection agency! We are convinced they purposely overcharged us, and probably every other client! Dodson does a lot of biz with NAELB brokers, don't these brokers need to know about Dodson's policy of quoting one price and charging another?


Universal Finance / Universal Manufacturing

Avoid this company like the plague. I believe that if it is the same one they also run companies under the name(s) Universal Manufacturing -(Vendor) & Universal Finance (Credit repair company). I'll look up the e-mail I received on this a while back. I think what the story was is that Universal Capital would submit a deal to funding source, then if declined due to personal credit, Universal Finance would repair credit then resubmit elsewhere. The vendor would be Universal Manufacturing who would sell $2,000 computers for $40,000 invoice (just under F/S disclosure). Then they split excess with lessee. Though I'm not sure about the Florida part. I'll get back with the additional info ASAP.


Universal Capital

Do you know anything about Univerasl Capital Services, Inc., in Spring Hill, Florida 34606. One of the lease brokers I work with is having trouble getting paid on a deal. He thinks the company is owned by Jim and Anita Koper. Please let me know if you hear anything. Thanks. 6/12 Metropolitan Mortgage Metropolitan Mortgage and Sec in Washington had a division that funded the lesser credits. Well they have stopped and are not honoring their approvals if they don't already have signed docs. This was told to me by a broker in Arizona who has 10 deals sitting with them and she is now scrambling to replace them.

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