EXHIBIT 99.4
Unaudited Pro Forma Condensed Combined Balance Sheet
As of September 30, 1999
Bay Greater Bay
Greater Commercial & Bay Commercial
Bay Services Services Combined Coast Adjustments(1)
---- -------- ----------------- ----- -------------
Assets
Cash an due from banks $ 98,863 $ 9,452 $ 108,315 $ 18,746 $ --
Federal funds sold 183,800 4,500 188,300 6,800 --
Other short-term securities 38,936 -- 38,936 -- --
Securities available-for-sale 277,187 21,432 298,619 116,729 --
Securities held-to-maturity and
other 127,460 7,296 134,756 -- --
Total loans, net 1,454,339 105,742 1,560,081 189,318 --
Property, premises and
equipment 15,724 1,958 17,682 2,124 --
Interest receivable and other
assets 87,578 1,376 88,954 16,371 --
-------------------------------------------------------------------------
Total assets $2,283,887 $151,756 $2,435,643 $350,088 $ --
=========================================================================
Liabilities
Total Deposits $2,032,737 $136,523 $2,169,260 $282,799 $ --
Other borrowings 52,000 678 52,678 31,500 --
Subordinated debt -- -- -- -- --
Other liabilities 29,112 1,106 30,218 3,856 2,500
Trust Preferred Securities 50,000 -- 50,000 -- --
-------------------------------------------------------------------------
Total liabilities 2,163,849 138,307 2,302,156 318,155 2,500
-------------------------------------------------------------------------
Shareholders' equity 120,038 13,449 133,487 31,933 (2,500)
-------------------------------------------------------------------------
Total liabilities and shareholders' equity $2,283,887 $151,756 $2,435,643 $350,088 $ --
=========================================================================
Greater Bay, Bay Greater Bay, Bay
Commercial Services Commercial Services,
& Coast Coast & Mt. Diablo
Combined Mt. Diablo Adjustments (1) Combined (2)
-------- ---------- -------------- ----------
Assets
Cash an due from banks $ 127,061 $ 13,427 $ -- $ 140,488
Federal funds sold 195,100 8,800 -- 203,900
Other short-term securities 38,936 -- -- 38,936
Securities available-for-sale 415,348 24,476 -- 439,824
Securities held-to-maturity and
other 134,756 378 -- 135,134
Total loans, net 1,749,399 150,422 -- 1,899,821
Property, premises and
equipment 19,806 2,660 -- 22,466
Interest receivable and other
assets 105,325 5,544 -- 110,869
--------------------------------------------------------------
Total assets $2,785,731 $205,707 $ -- $2,991,438
==============================================================
Liabilities
Total Deposits 2,452,059 $190,223 $ -- 2,642,282
Other borrowings 84,178 -- -- 84,178
Subordinated debt -- -- --
Other liabilities 36,574 3,364 1,800 41,738
Trust Preferred Securities 50,000 -- -- 50,000
--------------------------------------------------------------
Total liabilities 2,622,811 193,587 1,800 2,818,198
--------------------------------------------------------------
Shareholders' equity 162,920 12,120 (1,800) 173,240
--------------------------------------------------------------
Total liabilities and shareholders' equity $2,785,731 $205,707 $ -- $2,991,438
==============================================================
(1) The table above reflects all nonrecurring Mt. Diablo and Coast estimated
merger-related costs as of September 30, 1999, but does not reflect the
merger-related costs related to the Greater Bay/Bay Commercial Services
merger. The nonrecurring Mt. Diablo and Coast estimated merger-related costs
are not included on the unaudited pro forma condensed combined statement of
operations but are included on the unaudited pro forma condensed combined
balance sheet as a reduction to shareholders' equity, net of a $950,000 and
$1.4 million tax benefit, respectively. These costs will be charged to expense
immediately following
(2) For pro forma financial information related to the merger of Greater Bay and
Mt. Diablo, see Greater Bay's Registration Statement on Form S-4, filed with
the SEC on November 1, 1999, as amended on November 9, 1999 (Reg. No. 333-
90025).
Unaudited Pro Forma Condensed Combined Statement of Operations
For the Nine Months Ended September 30, 1999
(in thousands, except per share amounts)
Bay Greater Bay
Greater Commercial & Bay Commercial
Bay Services Services Combined Coast
--- -------- ----------------- -----
Interest on loans $ 90,946 $ 6,996 $ 97,942 $ 13,603
Interest on investment securities 17,905 1,264 19,169 5,086
Other interest income 7,361 110 7,471 691
----------------------------------------------------------
Total interest income 116,212 8,370 124,582 19,380
Interest on deposits 41,315 2,725 44,040 4,476
Other interest expense 6,399 25 6,424 668
----------------------------------------------------------
Net interest income 68,498 5,620 74,118 14,236
Provision for loans losses 6,075 161 6,236 -
----------------------------------------------------------
Net interest income after provision for loan losses 62,423 5,459 67,882 14,236
Other income 9,643 716 10,359 3,853
Operating expenses 40,402 4,353 44,755 9,884
----------------------------------------------------------
Income before provision for income taxes and
merger and other related nonrecurring costs and extraordinary
items 31,664 1,822 33,486 8,205
Provision for income taxes 12,052 669 12,721 3,202
----------------------------------------------------------
Net income before merger and other related nonrecurring costs 19,612 1,153 20,765 5,003
Merger and other related nonrecurring costs, net tax 2,491 - 2,491 -
----------------------------------------------------------
Income before extraordinary items 17,121 1,153 18,274 5,003
Extraordinary items (88) - (88) -
----------------------------------------------------------
Net income $ 17,033 $ 1,153 $ 18,186 $ 5,003
==========================================================
Net income per share - basic (1) $ 1.75 $ 0.91 $ 1.72 $ 1.05
==========================================================
Average common shares outstanding (2) 11,189,000 1,269,000 12,056,108 4,784,000
==========================================================
Net income per share - diluted (1) $ 1.66 $ 0.87 $ 1.63 $ 1.02
==========================================================
Average common and common equivalent shares
outstanding (2) 11,810,000 1,325,156 12,715,479 4,900,000
==========================================================
Commercial Services
& Coast
Adjustments Combined Mt. Diablo Adjustments
------------ -------- ----------- -----------
Interest on loans $ - $ 111,545 $ 9,295 $ -
Interest on investment securities - 24,255 1,044 -
Other interest income - 8,162 300 -
---------------------------------------------------------
Total interest income - 143,962 10,639 -
Interest on deposits - 48,516 3,578 -
Other interest expense - 7,092 - -
---------------------------------------------------------
Net interest income - 88,354 7,061 -
Provision for loans losses - 6,236 596 -
---------------------------------------------------------
Net interest income after provision for loan losses - 82,118 6,465 -
Other income - 14,212 1,233 -
Operating expenses - 54,639 4,238 -
---------------------------------------------------------
Income before provision for income taxes and -
merger and other related nonrecurring costs and extraordinary
items - 41,691 3,460 -
Provision for income taxes - 15,923 1,414 -
---------------------------------------------------------
Net income before merger and other related nonrecurring costs - 25,768 2,046 -
Merger and other related nonrecurring costs, net tax - 2,491 - -
---------------------------------------------------------
Income before extraordinary items - 23,277 2,046 -
Extraordinary items - (88) - -
----------------------------------------------------------
Net income $ - $ 23,189 $ 2,046 $ -
=========================================================
Net income per share - basic (1) $ - $ 1.70 $ 1.68 $ -
=========================================================
Average common shares outstanding (2) (1,703,104) 15,137,004 1,215,000 (104,612)
=========================================================
Net income per share - diluted (1) $ - $ 1.62 $ 1.43 $ -
=========================================================
Average common and common equivalent shares
outstanding (2) (1,744,400) 15,871,079 1,431,000 (123,209)
=========================================================
Greater Bay, Bay
Commercial Services,
Coast & Mt. Diablo
Combined (3)
--------
Interest on loans $ 120,840
Interest on investment securities 25,299
Other interest income 8,462
------------
Total interest income 154,601
Interest on deposits 52,094
Other interest expense 7,092
------------
Net interest income 95,415
Provision for loans losses 6,832
------------
Net interest income after provision for loan losses 88,583
Other income 15,445
Operating expenses 58,877
------------
Income before provision for income taxes and -
merger and other related nonrecurring costs and extraordinary
items 45,151
Provision for income taxes 17,337
------------
Net income before merger and other related nonrecurring costs 27,814
Merger and other related nonrecurring costs, net tax 2,491
------------
Income before extraordinary items 25,323
Extraordinary items (88)
------------
Net income $ 25,235
============
Net income per share - basic (1) $ 1.71
============
Average common shares outstanding (2) 16,247,392
============
Net income per share - diluted (1) $ 1.62
============
Average common and common equivalent shares
outstanding (2) 17,178,870
============
(1) Before merger and other related nonrecurring costs and extraordinary items
(2) Calculated as the historical Greater Bay weighted average shares plus the
historical Mt. Diablo and Coast weighted average shares adjusted for the
assumed conversion ratio of 0.9139 and 0.644, respectively.
(3) For pro forma financial information related to the merger of Greater Bay and
Mt. Diablo, see Greater Bay's Registration Statement on Form S-4, filed with
the SEC on November 1, 1999, as amended on November 9, 1999 (Reg. No. 333-
90025).
Unaudited Pro Forma Condensed Combined Statement of Operations
For the Nine Months Ended September 30, 1998
(in thousands, except per share amounts)
Bay Greater Bay
Greater Commercial & Bay Commercial
Bay Services Services Combined Coast
--- -------- ----------------- -------
Interest on loans $ 68,973 $ 6,085 $ 75,058 $ 12,496
Interest on investment securities 14,288 1,102 15,390 4,280
Other interest income 8,385 317 8,702 949
--------------------------------------------------------
Total interest income 91,646 7,504 99,150 17,725
Interest on deposits 31,883 2,524 34,407 3,975
Other interest expense 5,822 49 5,871 1,033
--------------------------------------------------------
Net interest income 53,941 4,931 58,872 12,717
Provision for loans losses 4,294 99 4,393 225
--------------------------------------------------------
Net interest income after provision for loan losses 49,647 4,832 54,479 12,492
Other income 6,619 723 7,342 4,554
Operating expenses 34,210 4,193 38,403 9,038
--------------------------------------------------------
Income before provision for income taxes and
merger and other related nonrecurring costs and extraordinary items 22,056 1,362 23,418 8,008
Provision for income taxes 7,427 478 7,905 3,327
--------------------------------------------------------
Net income before merger and other related nonrecurring costs 14,629 884 15,513 4,681
Merger and other related nonrecurring costs, net tax 1,314 - 1,314 -
--------------------------------------------------------
Income before extraordinary items 13,315 884 14,199 4,681
Extraordinary items - - - -
--------------------------------------------------------
Net income $ 13,315 $ 884 $ 14,199 $ 4,681
========================================================
Net income per share - basic (1) $ 1.35 $ 0.82 $ 1.34 $ 0.97
========================================================
Average common shares outstanding (2) 10,848,000 $1,080,000 11,585,964 4,816,000
========================================================
Net income per share - diluted (1) $ 1.26 $ 0.69 $ 1.24 $ 0.94
========================================================
Average common and common equivalent shares
outstanding (2) 11,649,000 1,280,000 12,523,624 4,957,000
========================================================
Greater Bay, Bay
Commercial Services
& Coast
Adjustments Combined Mt. Diablo
----------- -------- ----------
Interest on loans $ - $ 87,554 $ 6,523
Interest on investment securities - 19,670 679
Other interest income - 9,651 500
-------------------------------------------
Total interest income - 116,875 7,702
Interest on deposits - 38,382 3,018
Other interest expense - 6,904 -
-------------------------------------------
Net interest income - 71,589 4,684
Provision for loans losses - 4,618 650
-------------------------------------------
Net interest income after provision for loan losses - 66,971 4,034
Other income - 11,896 486
Operating expenses - 47,441 3,178
-------------------------------------------
Income before provision for income taxes and -
merger and other related nonrecurring costs and extraordinary items - 31,426 1,342
Provision for income taxes - 11,232 546
-------------------------------------------
Net income before merger and other related nonrecurring costs - 20,194 796
Merger and other related nonrecurring costs, net tax - 1,314 -
-------------------------------------------
Income before extraordinary items - 18,880 796
Extraordinary items - - -
-------------------------------------------
Net income $ - $ 18,880 $ 796
===========================================
Net income per share - basic (1) $ - $ 1.37 $ 0.66
===========================================
Average common shares outstanding (2) (1,714,496) 14,687,468 1,215,000
===========================================
Net income per share - diluted (1) $ - $ 1.28 $ 0.59
===========================================
Average common and common equivalent shares
outstanding (2) (1,764,692) 15,715,932 1,352,000
===========================================
Greater Bay, Bay
Commercial Services
Coast & Mt. Diablo
Adjustments Combined (3)
----------- --------
Interest on loans $ - $ 94,077
Interest on investment securities - 20,349
Other interest income - 10,151
---------------------------
Total interest income - 124,577
Interest on deposits - 41,400
Other interest expense - 6,904
---------------------------
Net interest income - 76,273
Provision for loans losses - 5,268
---------------------------
Net interest income after provision for loan losses - 71,005
Other income - 12,382
Operating expenses - 50,619
---------------------------
Income before provision for income taxes and -
merger and other related nonrecurring costs and extraordinary items - 32,768
Provision for income taxes - 11,778
---------------------------
Net income before merger and other related nonrecurring costs - 20,990
Merger and other related nonrecurring costs, net tax - 1,314
---------------------------
Income before extraordinary items - 19,676
Extraordinary items - -
---------------------------
Net income $ - $ 19,676
===========================
Net income per share - basic (1) $ - $ 1.33
===========================
Average common shares outstanding (2) (104,612) 15,797,856
===========================
Net income per share - diluted (1) $ - $ 1.24
===========================
Average common and common equivalent shares
outstanding (2) (116,407) 16,951,525
===========================
(1) Before merger and other related nonrecurring costs and extraordinary items
(2) Calculated as the historical Greater Bay weighted average shares plus the
historical Mt. Diablo and Coast weighted average shares adjusted for the
assumed conversion ratio of 0.9139 and 0.644, respectively.
(3) For pro forma financial information related to the merger of Greater Bay and
Mt. Diablo, see Greater Bay's Registration Statement on Form S-4, filed with
the SEC on November 1, 1999, as amended on November 9, 1999 (Reg. No. 333-
90025).
Unaudited Pro Forma Condensed Combined Statement of Operations
For the Year Ended December 31, 1998
(in thousands, except per share amounts)
Bay Greater Bay
Greater Commercial & Bay Commercial
Bay Services Services Combined Coast
--- -------- ----------------- -----
Interest on loans $ 93,915 $ 8,177 $ 102,092 $16,891
Interest on investment securities 20,075 2,023 22,098 5,848
Other interest income 10,808 - 10,808 1,388
-------------------------------------------------------
Total interest income 124,798 10,200 134,998 24,127
Interest on deposits 43,004 3,406 46,410 5,589
Other interest expense 8,176 73 8,249 1,174
-------------------------------------------------------
Net interest income 73,618 6,721 80,339 17,364
Provision for loans losses 6,235 134 6,369 300
-------------------------------------------------------
Net interest income after provision for loan losses 67,383 6,587 73,970 17,064
Other income 9,720 941 10,661 5,860
Operating expenses 46,436 5,656 52,092 12,355
-------------------------------------------------------
Income before provision for income taxes and
merger and other related nonrecurring costs and extraordinary items 30,667 1,872 32,539 10,569
Provision for income taxes 10,050 657 10,707 4,408
-------------------------------------------------------
Net income before merger and other related nonrecurring costs, net of tax 20,617 1,215 21,832 6,161
Merger and other related nonrecurring costs, net of tax 1,674 - 1,674 -
Net income $ 18,943 $ 1,215 $ 20,158 $ 6,161
=======================================================
Net income per share - basic (1) $ 1.90 $ 1.13 $ 1.88 $ 1.28
=======================================================
Average common shares outstanding (2) 10,858,000 1,080,000 11,595,964 4,803,000
=======================================================
Net income per share - diluted (1) $ 1.77 $ 0.95 $ 1.75 $ 1.25
=======================================================
Average common and common equivalent shares
outstanding (2) 11,637,000 1,277,000 12,509,574 4,936,000
=======================================================
Greater Bay, Bay
Commercial Services
& Coast
Adjustments Combined Mt. Diablo
----------- -------- ----------
Interest on loans $ - $ 118,983 $ 9,269
Interest on investment securities - 27,946 997
Other interest income - 12,196 642
-------------------------------------------
Total interest income - 159,125 10,908
Interest on deposits - 51,999 4,153
Other interest expense - 9,423 6
-------------------------------------------
Net interest income - 97,703 6,749
Provision for loans losses - 6,669 790
-------------------------------------------
Net interest income after provision for loan losses - 91,034 5,959
Other income - 16,521 709
Operating expenses - 64,447 4,312
-------------------------------------------
Income before provision for income taxes and -
merger and other related nonrecurring costs and extraordinary items - 43,108 2,356
Provision for income taxes - 15,115 960
-------------------------------------------
Net income before merger and other related nonrecurring costs, net of tax - 27,993 1,396
Merger and other related nonrecurring costs, net of tax - 1,674 -
-------------------------------------------
Net income $ - $ 26,319 $ 1,396
===========================================
Net income per share - basic (1) $ - $ 1.91 $ 1.15
===========================================
Average common shares outstanding (2) (1,709,868) 14,689,096 1,215,000
===========================================
Net income per share - diluted (1) $ - $ 1.78 0.98
===========================================
Average common and common equivalent shares
outstanding (2) (1,757,216) 15,688,358 1,423,000
===========================================
Greater Bay, Bay
Commercial Services,
Coast & Mt. Diablo
Adjustments Combined (3)
----------- --------
Interest on loans $ - $ 128,252
Interest on investment securities - 28,943
Other interest income - 12,838
-------------------------------------
Total interest income - 170,033
Interest on deposits - 56,152
Other interest expense - 9,429
-------------------------------------
Net interest income - 104,452
Provision for loans losses - 7,459
-------------------------------------
Net interest income after provision for loan losses - 96,993
Other income - 17,230
Operating expenses - 68,759
-------------------------------------
Income before provision for income taxes and
merger and other related nonrecurring costs and extraordinary items - 45,464
Provision for income taxes - 16,075
-------------------------------------
Net income before merger and other related nonrecurring costs, net of tax - 29,389
Merger and other related nonrecurring costs, net of tax - 1,674
-------------------------------------
Net income $ - 27,715
=====================================
Net income per share - basic (1) $ - $ 1.86
=====================================
Average common shares outstanding (2) (104,612) 15,799,484
=====================================
Net income per share - diluted (1) $ - $ 1.73
=====================================
Average common and common equivalent shares
outstanding (2) (122,520) 16,988,838
=====================================
(1) Before merger and other related nonrecurring costs and extraordinary items
(2) Calculated as the historical Greater Bay weighted average shares plus the
historical Mt. Diablo and Coast weighted average shares adjusted for the
assumed conversion ratio of 0.9139 and 0.644, respectively.
(3) For pro forma financial information related to the merger of Greater Bay and
Mt. Diablo, see Greater Bay's Registration Statement on Form S-4, filed with
the SEC on November 1, 1999, as amended on November 9, 1999 (Reg. No. 333-
90025).
Unaudited Pro Forma Condensed Combined Statement of Operations
For the Year Ended December 31, 1997
(in thousands, except per share amounts)
Great Bay &
Bay Bay Commercial
Greater Commercial Services
Bay Services Combined Coast
-------- --------- ------------- ------
Interest on loans ....................................................... $ 78,278 $ 7,137 $ 85,415 $ 14,383
Interest on investment securities ....................................... 10,323 1,622 11,945 5,052
Other interest income ................................................... 9,660 -- 9,660 1,244
------------------------------------------------------
Total interest income ................................................ 98,261 8,759 107,020 20,679
Interest on deposits .................................................... 33,565 2,860 36,425 4,172
Other interest expense .................................................. 3,447 96 3,543 1,455
------------------------------------------------------
Net interest income ..................................................... 61,249 5,803 67,052 15,052
Provision for loans losses .............................................. 7,026 52 7,078 450
------------------------------------------------------
Net interest income after provision for loan losses ..................... 54,223 5,751 59,974 14,602
Other income ............................................................ 9,058 971 10,029 5,060
Operating expenses ...................................................... 38,791 5,072 43,863 11,006
------------------------------------------------------
Income before provision for income taxes and
merger and other related nonrecurring costs and extraordinary items ... 24,490 1,650 26,140 8,656
Provision for income taxes .............................................. 8,784 588 9,372 3,501
------------------------------------------------------
Net income before merger and other related nonrecurring costs, net of
tax...................................................................... 15,706 1,062 16,768 5,155
Merger and other related nonrecurring costs, net of tax ................. 2,282 -- 2,282 --
------------------------------------------------------
Net income ........................................................... $ 13,424 $ 1,062 $ 14,486 $ 5,155
======================================================
Net income per share - basic (1) ........................................ $ 1.51 $ 0.99 $ 1.50 $ 1.06
======================================================
Average common shares outstanding (2) ................................... 10,421,000 1,077,000 11,156,914 4,853,000
======================================================
Net income per share - diluted (1) ...................................... $ 1.40 $ 0.84 $ 1.38 $ 1.05
======================================================
Average common and common equivalent shares
outstanding (2) ...................................................... 11,254,000 1,258,000 12,113,591 4,931,000
======================================================
Greater Greater
Bay, Bay Bay, Bay
Commercial Commerical
Services Services,
& Coast Mt. Coast & Mt. Diablo
Ajustments Combined Diablo Adjustments Combined(3)
---------- -------- ----- ---------- ------------
Interest on loans ........................................$ -- $ 99,798 $ 5,723 $ -- $ 105,521
Interest on investment securities ........................ -- 16,997 372 -- 17,369
Other interest income .................................... -- 10,904 344 -- 11,248
----------------------------------------------------------------------
Total interest income ................................. -- 127,699 6,439 -- 134,138
Interest on deposits ..................................... -- 40,597 2,553 -- 43,150
Other interest expense ................................... -- 4,998 3 -- 5,001
----------------------------------------------------------------------
Net interest income ...................................... -- 82,104 3,883 -- 85,987
Provision for loans losses ............................... -- 7,528 463 -- 7,991
----------------------------------------------------------------------
Net interest income after provision for loan losses ...... -- 74,576 3,420 -- 77,996
Other income ............................................. -- 15,089 348 -- 15,437
Operating expenses ....................................... -- 54,869 2,627 -- 57,496
----------------------------------------------------------------------
Income before provision for income taxes and
merger and other related nonrecurring costs and
extraordinary items ..................................... -- 34,796 1,141 -- 35,937
Provision for income taxes ............................... -- 12,873 427 -- 13,300
----------------------------------------------------------------------
Net income before merger and other related
nonrecurring costs, net of tax............................. -- 21,923 714 -- 22,637
Merger and other related nonrecurring costs, net of tax .... -- 2,282 -- -- 2,282
----------------------------------------------------------------------
Net income ............................................ $ -- $ 19,641 $ 714 $ -- $ 20,355
======================================================================
Net income per share - basic (1) ......................... $ -- $ 1.53 $ 0.68 $ -- $ 1.48
======================================================================
Average common shares outstanding (2) ................... (1,727,668) 14,282,246 1,053,000 (90,663) 15,244,583
======================================================================
Net income per share - diluted (1) ..................... $ -- $ 1.43 $ 0.63 $ -- $ 1.39
======================================================================
Average common and common equivalent shares
outstanding (2) ..................................... (1,755,436) 15,289,155 1,136,000 (97,810) 16,327,345
======================================================================
(1) Before merger and other related nonrecurring costs and extraordinary items
(2) Calculated as the historical Greater Bay weighted average shares plus the
historical Mt. Diablo and Coast weighted average shares adjusted for the
assumed conversion ratio of 0.9139 and 0.644, respectively.
(3) For pro forma financial information related to the merger of Greater Bay and
Mt. Diablo, see Greater Bay's Registration Statement on Form S-4, filed with
the SEC on November 1, 1999, as amended on November 9, 1999 (Reg. No. 333-
90025).
Unaudited Pro Forma Condensed Combined Statement of Operations
For the Year Ended December 31, 1996
(in thousands, except per share amounts)
Bay Greater Bay
Greater Commercial & Bay Commercial
Bay Services Services Combined Coast
--- -------- ----------------- -----
Interest on loans .................................................... $ 57,379 $ 6,463 $ 63,842 $ 12,845
Interest on investment securities .................................... 9,222 1,363 10,585 4,571
Other interest income ................................................ 4,683 -- 4,683 832
-----------------------------------------------------
Total interest income ............................................. 71,284 7,826 79,110 18,248
Interest on deposits ................................................. 23,744 2,351 26,095 3,435
Other interest expense ............................................... 1,174 106 1,280 1,378
-----------------------------------------------------
Net interest income .................................................. 46,366 5,369 51,735 13,435
Provision for loans losses ........................................... 3,029 -- 3,029 900
-----------------------------------------------------
Net interest income after provision for loan losses .................. 43,337 5,369 48,706 12,535
Other income ......................................................... 7,444 1,080 8,524 4,898
Operating expenses ................................................... 35,292 4,686 39,978 10,539
-----------------------------------------------------
Income before provision for income taxes and ......................... -- -- -- --
merger and other related nonrecurring costs and extraordinary
items .............................................................. 15,489 1,763 17,252 6,894
Provision for income taxes ........................................... 5,735 680 6,415 2,766
-----------------------------------------------------
Net income before merger and other related nonrecurring costs,
net of tax ......................................................... 9,754 1,083 10,837 4,128
Merger and other related nonrecurring costs, net of tax .............. 1,991 -- 1,991 --
-----------------------------------------------------
Net income ........................................................ $ 7,763 $ 1,083 $ 8,846 $ 4,128
=====================================================
Net income per share - basic (1) ..................................... $ 0.97 $ 1.01 $ 1.01 $ 0.85
=====================================================
Average common shares outstanding (2) ................................ 10,014,000 1,077,000 10,749,914 4,881,000
=====================================================
Net income per share - diluted (1) ................................... $ 0.91 $ 0.89 $ 0.94 $ 0.84
=====================================================
Average common and common equivalent shares
outstanding (2) ................................................... 10,747,000 1,217,000 11,578,576 4,919,000
=====================================================
Greater Bay, Bay Greater Bay, Bay
Commercial Services Commercial Services
& Coast Coast & Mt. Diablo
Adjustments Combined Mt. Diablo Adjustments Combined(3)
----------- -------- ---------- ----------- -----------
Interest on loans .............................................. $ -- $ 76,687 $ 3,545 $ -- $ 80,232
Interest on investment securities .............................. -- 15,156 248 -- 15,404
Other interest income .......................................... -- 5,515 276 -- 5,791
---------------------------------------------------------------
Total interest income ....................................... -- 97,358 4,069 -- 101,427
Interest on deposits ........................................... -- 29,530 1,672 -- 31,202
Other interest expense ......................................... -- 2,658 -- -- 2,658
---------------------------------------------------------------
Net interest income ............................................ -- 65,170 2,397 -- 67,567
Provision for loans losses ..................................... -- 3,929 181 -- 4,110
---------------------------------------------------------------
Net interest income after provision for loan losses ............ -- 61,241 2,216 -- 63,457
Other income ................................................... -- 13,422 145 -- 13,567
Operating expenses ............................................. -- 50,517 1,995 -- 52,512
---------------------------------------------------------------
Income before provision for income taxes and
merger and other related nonrecurring costs and
extraordinary items .......................................... -- 24,146 366 -- 24,512
Provision for income taxes ..................................... -- 9,181 (137) -- 9,044
---------------------------------------------------------------
Net income before merger and other related nonrecurring
costs, net of tax ............................................ -- 14,965 503 -- 15,468
Merger and other related nonrecurring costs, net of tax ........ -- 1,991 -- -- 1,991
---------------------------------------------------------------
Net income .................................................. $ -- $ 12,974 $ 503 $ -- $ 13,477
===============================================================
Net income per share - basic (1) ............................... $ -- $ 1.08 $ 0.56 $ -- $ 1.05
===============================================================
Average common shares outstanding (2) .......................... (1,737,636) 13,893,278 900,000 (77,490) 14,715,788
===============================================================
Net income per share - diluted (1) ............................. $ -- $ 1.01 $ 0.56 $ -- $ 0.99
===============================================================
Average common and common equivalent shares
outstanding (2) ............................................. (1,751,164) 14,746,412 900,000 (77,490) 15,568,922
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(1) Before merger and other related nonrecurring costs and extraordinary items
(2) Calculated as the historical Greater Bay weighted average shares plus the
historical Mt. Diablo and Coast weighted average shares adjusted for the
assumed conversion ratio of 0.9139 and 0.644, respectively.
(3) For pro forma financial information related to the merger of Greater Bay and
Mt. Diablo, see Greater Bay's Registration Statement on Form S-4, filed with
the SEC on November 1, 1999, as amended on November 9, 1999 (Reg. No. 333-
90025).