GBBK Global Blockchain Acquisition Corporation

Greater Bay Bancorp (Nasdaq:GBBK) today announced a series of branding consolidations aimed at streamlining and regionalizing its banking identities in its current geographic footprint. The Company's three current banking franchises in the Santa Clara Valley - San Jose National Bank, Cupertino National Bank and Bank of Santa Clara - have been combined under the single new common identity of Santa Clara Valley National Bank. This new regional community banking franchise includes 13 offices currently located throughout the Santa Clara Valley with deposits totaling over $1.0 billion. The Company has named Terry Lachenbruch, previously President and Chief Executive Officer of San Jose National Bank, to assume that same role in this new larger enterprise. The Company has also combined two of its operations in the San Francisco Peninsula market - Mid-Peninsula Bank and Bay Area Bank - into the flagship Mid-Peninsula Bank identity under the leadership of Steve Heitel, who currently serves as President and Chief Executive Officer of Mid-Peninsula Bank. This regional institution will be comprised of major community banking office locations in Palo Alto, Redwood City and San Mateo with deposits in excess of $1.0 billion. The Company's Bay Bank of Commerce franchise in San Leandro has assumed the Greater Bay Bank identity, joining with existing Greater Bay Bank offices in Fremont and San Rafael. The Company also announced the opening of a denovo office in Santa Rosa on August 30 that carries the Greater Bay Bank name, as well as its intention to open an office in Oakland later this year under the Greater Bay Bank name. The Company's remaining franchises - Coast Commercial Bank in Santa Cruz County, Golden Gate Bank in San Francisco, Mt. Diablo National Bank in Contra Costa County, Peninsula Bank of Commerce in Millbrae, and Bank of Petaluma in Petaluma - will continue to operate without change. The consequence of the above realignment is a reduction in the number of the Company's banking franchises from twelve to eight in the Greater San Francisco Bay Area markets. "This is a significant step in both reaffirming as well as bringing greater consistency to our regional community banking commitment and operating philosophy," stated Byron A. Scordelis, President and Chief Executive Officer of Greater Bay Bancorp. "It rationalizes and underscores the strength of our distinct regional community banking businesses in our largest and most lucrative markets in the Santa Clara Valley and the San Francisco Peninsula, while also reaffirming our belief in the unique value and virtue of regional markets served by Coast Commercial Bank and Mt. Diablo National Bank," he added. "These evolutionary steps translate into the creation of discrete and formidable regional businesses which combine the leverage afforded by our size and resources with a presence and responsiveness that remains exceptionally rooted in the individual markets that we serve," stated Mr. Scordelis. "Our core values are built upon an abiding belief in local people who make local decisions in local markets based upon local knowledge. These changes will both adhere to and further leverage the power of that philosophy to the benefit of our clients within the communities that we serve." The Company expects that the client impact of the changes will be virtually seamless and transparent, as no changes in product offerings or account numbers will be necessary, and no changes in staffing or assigned relationship managers will occur. While modest operational consolidations may result, no layoffs or staffing reductions are contemplated. 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 lending and loan services through its specialty finance group, which includes Matsco, CAPCO 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, 2005, and particularly the discussion of risk factors within such documents.