Greater Bay Bancorp Declares Increase in First-Quarter Cash Dividend

  
    
  
  
    
      The Board of Directors of Greater Bay Bancorp (Nasdaq:GBBK), a 
      $7.4 billion in assets financial services holding company, declared a 
      quarterly cash dividend of $0.16 per common share outstanding to 
      shareholders of record as of April 13, 2007. The dividend is payable on 
      April 30, 2007.
    
    
      “This dividend represents a 1.6% increase over 
      the Company’s previous quarterly dividend of 
      $0.1575 per common share and is the 59th 
      consecutive cash dividend paid by Greater Bay Bancorp,” 
      stated Byron A. Scordelis, President and Chief Executive Officer of 
      Greater Bay Bancorp. “This increase in our 
      dividend recognizes our strong capital position and reflects our 
      continued desire to recognize and reward our shareholders for their 
      support.”
    
    
      About Greater Bay Bancorp
    
    
      Greater Bay Bancorp, a diversified financial services holding company, 
      provides community banking services in the Greater San Francisco Bay 
      Area through Greater Bay Bank, N.A.’s 
      community banking organization, including Bank of Petaluma, Coast 
      Commercial Bank, Golden Gate Bank, Mid-Peninsula Bank, Mt. Diablo 
      National Bank, Peninsula Bank of Commerce 
      and Santa Clara Valley National Bank. Nationally, Greater Bay Bancorp 
      provides specialized leasing and loan services through its specialty 
      finance group, which includes Matsco, Greater Bay Business Funding and 
      Greater Bay Capital. ABD Insurance and Financial Services, the Company’s 
      insurance brokerage subsidiary, provides commercial insurance brokerage, 
      employee benefits consulting and risk management solutions to business 
      clients throughout the United States.
    
    
      For additional information and press releases about Greater Bay Bancorp, 
      visit the Company’s web site at http://www.gbbk.com.
    
    
      Safe Harbor
    
    
      This document may contain forward-looking statements that are subject 
      to risks and uncertainties that could cause actual results to differ 
      materially from those projected. For a discussion of factors that could 
      cause actual results to differ, please see the publicly available 
      Securities and Exchange Commission filings of Greater Bay Bancorp, 
      including its Annual Report on Form 10-K for the year ended December 31, 
      2006 and particularly the discussion of risk factors within such 
      documents.