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Shareholders Approve Proposals Related to Equity Raise

  Shareholders Approve Proposals Related to Equity Raise

Business Wire

GREENSBORO, N.C. -- February 21, 2013

NewBridge Bancorp (NASDAQ: NBBC), parent of NewBridge Bank, convened a Special
Meeting of Shareholders on February 20, 2013 for the purposes of obtaining
shareholder approval of proposals to create a new class of non-voting common
stock (Class B Common Stock), to increase the Company’s authorized common
stock from 50,000,000 to 100,000,000 shares and its authorized preferred stock
from 10,000,000 to 30,000,000 shares, and to approve the Company’s issuance of
up to 9,601,273 shares of Class A Common Stock upon conversion of up to
422,456 shares of Series B Preferred Stock issued to investors in the Company
in connection with its November 2012 equity raise of approximately $56 million
and the Company’s issuance of up to 3,186,750 shares of Class B Common Stock
upon conversion of up to 140,217 shares of Series C Preferred Stock also
issued to investors in the November 2012 equity raise. All proposals were
approved.

Pressley Ridgill, President and Chief Executive Officer of the Company, said
“we are grateful for the overwhelming support of our shareholders in approving
all of the proposals made at our Special Meeting of Shareholders. This is
another completed step in positioning NewBridge to thrive in the months and
years to come.”

About NewBridge Bancorp

NewBridge Bancorp is the parent company of NewBridge Bank, a full service
state chartered community bank headquartered in Greensboro, North Carolina.
The stock of NewBridge Bancorp trades on the Nasdaq Global Select Market under
the symbol of “NBBC”.

As one of the largest community banks in the state, NewBridge Bank serves
small to midsize businesses, professionals and consumers with a comprehensive
array of financial services including retail and commercial banking, private
banking, wealth management and mortgage banking. NewBridge Bank has assets of
approximately $1.7 billion with 30 full service banking offices in North
Carolina.

Disclosures About Forward Looking Statements

The discussions included in this document and its exhibits may contain forward
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including Section 21E of the Securities Exchange Act of
1934 and Section27A of the Securities Act of 1933. Such statements involve
known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially. For the purposes of these discussions, any
statements that are not statements of historical fact may be deemed to be
forward looking statements. Such statements are often characterized by the use
of qualifying words such as “expects,” “anticipates,” “believes,” “estimates,”
“plans,” “projects,” or other statements concerning opinions or judgments of
NewBridge and its management about future events. The accuracy of such forward
looking statements could be affected by factors including, but not limited to,
the financial success or changing conditions or strategies of NewBridge
Bancorp’s clients or vendors, fluctuations in interest rates, actions of
government regulators, the availability of capital and personnel or general
economic conditions. Additional factors that could cause actual results to
differ materially from those anticipated by forward looking statements are
discussed in NewBridge’s filings with the Securities and Exchange Commission,
including without limitation its annual report on Form 10-K, quarterly reports
on Form 10-Q and current reports on Form 8-K. NewBridge undertakes no
obligation to revise or update these statements following the date of this
press release.

Contact:

NewBridge Bancorp
Ramsey Hamadi, 336-369-0900
SEVP and Chief Financial Officer
 
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