SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

[X]       QUARTERLY  REPORT  PURSUANT  TO SECTION 13 OR 15(d) OF THE  SECURITIES
          EXCHANGE ACT OF 1934 FOR the quarter period ended September 30, 2001


Commission File No.  0-31080

                                NORTH BAY BANCORP
                                -----------------
             (Exact name of registrant as specified in its charter)

              California                                68-0434802
              ----------                                ----------
(State or Jurisdiction of incorporation)    (I.R.S. Employer Identification No.)

                 1500 Soscol Avenue, Napa, California 94559-1314
                 -----------------------------------------------
           (Address of principal executive office including Zip Code)


Registrant's telephone number, including area code:  (707) 257-8585

Securities registered pursuant to Section 12(b) of the Act: NONE

Securities registered pursuant to Section 12(g) of the Act:


                           Common Stock, No Par Value
                           --------------------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                      Yes   X                     No
                         -------                    -------

                      APPLICABLE ONLY TO CORPORATE ISSURES:


Indicate  the number of shares  outstanding  of the North Bay  Bancorp's  Common
Stock outstanding as of November 6, 2001: 1,960,902

<PAGE>

                                     Item 1.
                              Financial Information

FORWARD LOOKING STATEMENTS

In  addition to the  historical  information,  this  Quarterly  Report  contains
certain  forward-looking  information  within the  meaning of Section 27A of the
Securities Act of 1933, as amended and Section 321E of the  Securities  Exchange
Act of 1934, as amended,  and are subject to the "Safe Harbor"  created by those
Sections.  The reader of this Quarterly  Report should  understand that all such
forward-looking  statements are subject to various  uncertainties and risks that
could affect their outcome. The Company's actual results could differ materially
from those  suggested  by such  forward-looking  statements.  Factors that could
cause or contribute  to such  differences  include,  but are not limited to, (i)
variances in the actual  versus  projected  growth in assets,  return on assets,
loan  losses,  expenses,  rates  charged  on  loans  and  earned  on  securities
investments,  rates  paid on  deposits,  and fee and  other  noninterest  income
earned;  (ii)  competitive   pressures  among  depository  and  other  financial
institutions may increase significantly and have an effect on pricing, spending,
third-party  relationships and revenues;  (iii) enactment of adverse  government
regulations;  (iv) the potential  effects of the California  energy crisis;  (v)
adverse  conditions  and  volatility,  including as a result of recent  economic
uncertainty  created by the September 11, 2001  terrorists  attacks on the World
Trade Center and the Pentagon, the United States' war on terrorism, in the stock
market,  the public debt market and other capital markets and the impact of such
conditions  of  the  Company;  (vi)  continued  changes  in  the  interest  rate
environment  may reduce  interest  margins  and  adversely  impact net  interest
income;  (vii) as well as other factors.  This entire Quarterly Report should be
read  to put  such  forward-looking  statements  in  context  and to gain a more
complete  understanding of the uncertainties and risks involved in the Company's
business.

Moreover,  wherever phrases such as or similar to "In Management's  opinion", or
"Management  considers" are used,  such  statements are as of and based upon the
knowledge  of  Management,  at the time  made and are  subject  to change by the
passage of time and/or  subsequent  events,  and accordingly such statements are
subject  to the same  risks  and  uncertainties  noted  above  with  respect  to
forward-looking statements.

FINANCIAL INFORMATION

The  information  for the three months and nine months ended  September 30, 2001
and September 30, 2000, is unaudited,  but in the opinion of management reflects
all adjustments which are necessary to present fairly the financial condition of
North Bay Bancorp  (Company) at September 30, 2001 and the results of operations
and cash flows for the three  months and nine  months  then  ended.  Results for
interim  periods  should not be  considered  as indicative of results for a full
year.


                                       2

<PAGE>

<TABLE>
                                                                                       North Bay Bancorp
                                                                                  Consolidated Balance Sheets
                                                                                          (Unaudited)
<CAPTION>
                                                                         September 30,    September 30,     December 31,
Assets:                                                                           2001             2000             2000
                                                                        ---------------  ---------------  ---------------
<S>                                                                       <C>              <C>              <C>
Cash and due from banks                                                   $ 17,467,000     $ 11,708,000     $ 15,881,000
Federal funds sold                                                           1,992,000        7,730,000        9,475,000
Time deposits with other financial institutions                                100,000          100,000          100,000
                                                                          ------------     ------------     ------------
                    Total cash and cash equivalents                         19,559,000       19,538,000       25,456,000
Investment securities:
   Held-to-maturity                                                          1,314,000        1,353,000        1,353,000
   Available-for-sale                                                       91,239,000       49,420,000       58,251,000
Loans, net of allowance for loan losses of $2,601,000 in September, 2001
   $2,168,000 in September, 2000 and $2,268,000  in December, 2000         183,229,000      147,503,000      150,008,000
Bank premises and equipment, net                                             9,286,000        5,175,000        5,242,000
Accrued interest receivable and other assets                                 8,441,000        6,928,000        7,159,000
                                                                          ------------     ------------     ------------

                             Total assets                                 $313,068,000     $229,917,000     $247,469,000
                                                                          ============     ============     ============

Liabilities and Shareholders' Equity
Liabilities:

Deposits:
   Non-interest bearing                                                   $ 72,897,000     $ 50,055,000      $60,676,000
   Interest bearing                                                        206,429,000      149,515,000      155,962,000
                                                                          ------------     ------------     ------------
                            Total deposits                                 279,326,000      199,570,000      216,638,000


Long term borrowings                                                         2,077,000        3,000,000        2,769,000
Short term borrowings                                                                0                0                0
                                                                          ------------     ------------     ------------
                           Total borrowings                                  2,077,000        3,000,000        2,769,000

Accrued interest payable and other liabilities                              1,877,000         2,025,000        1,426,000
                                                                          ------------     ------------     ------------

                           Total liabilities                              283,280,000       204,595,000      220,833,000
                                                                          ------------     ------------     ------------

Shareholders' equity:

Preferred stock - no par value:
Authorized, 500,000 shares;
Issued and outstanding - none
Common stock - no par value:
Authorized, 10,000,000 shares;
Issued and outstanding - 1,960,902 shares in September 2001,
   1,848,403 shares in September, 2000, and 1,850,445 in December, 2000     21,935,000       19,761,000       19,801,000
Retained earnings                                                            6,526,000        6,190,000        6,753,000
Accumulated other comprehensive income (loss)                                1,327,000        (629,000)           82,000
                                                                          ------------     ------------     ------------
                      Total shareholders' equity                            29,788,000       25,322,000       26,636,000

              Total liabilities and shareholders' equity                  $313,068,000     $229,917,000      247,469,000
                                                                          ============     ============     ============


<FN>
The accompanying notes are an integral part of these statements
</FN>
</TABLE>

                                                               3


<PAGE>

<TABLE>
                                                          North Bay Bancorp
                                                   Consolidated Income Statements
                                                             (Unaudited)
<CAPTION>

                                             Three Months Ended         Nine Months Ended
                                           September    September    September    September
                                              30,          30,          30,          30,
                                              2001         2000         2001         2000
                                          ----------------------------------------------------
<S>                                         <C>          <C>         <C>          <C>
Interest Income
   Loans (including fees)                   $3,993,000   $3,402,000  $11,374,000  $ 9,355,000
   Federal funds sold                          298,000       89,000      903,000      210,000
   Investment securities - taxable             869,000      624,000    2,392,000    1,958,000
   Investment securities - tax exempt          164,000      167,000      496,000      507,000
                                            ----------   ----------  -----------  -----------
Total Interest income                        5,324,000    4,282,000   15,165,000   12,030,000

Interest Expense
  Deposits                                   1,448,000    1,373,000    4,650,000    3,884,000
  Short term borrowings                              0        1,000        2,000       89,000
  Long Term Borrowings                          34,000       70,000      141,000       86,000
                                            ----------   ----------  -----------  -----------
Total Interest Expense                       1,482,000    1,444,000    4,793,000    4,059,000

Net interest income                          3,842,000    2,838,000   10,372,000    7,971,000

Provision for loan losses                      111,000      100,000      333,000      280,000
                                            ----------   ----------  -----------  -----------

Net interest income after
   provision for loan losses                 3,731,000    2,738,000   10,039,000    7,691,000

Non interest income                            547,000      510,000    1,659,000    1,661,000

Gains (losses) on securities                         0        5,000            0       (3,000)
transactions, net

Non interest expenses
   Salaries and employee benefits            1,671,000    1,217,000    4,621,000    3,239,000
   Occupancy                                   228,000      190,000      649,000      442,000
   Equipment                                   247,000      266,000      795,000      614,000
   Other                                       800,000      621,000    2,427,000    1,699,000
                                            ----------   ----------  -----------  -----------
Total non interest expense                   2,946,000    2,294,000    8,492,000    5,994,000
                                            ----------   ----------  -----------  -----------

Income before provision for
   income taxes                              1,332,000      959,000    3,206,000    3,355,000

Provision for income taxes                     414,000      369,000    1,112,000    1,305,000
                                            ----------   ----------  -----------  -----------

Net income                                  $  918,000   $  590,000  $ 2,094,000  $ 2,050,000
                                            ==========   ==========  ===========  ===========

Basic earnings per common share:            $     0.47   $     0.30  $      1.07  $      1.14
                                            ==========   ==========  ===========  ===========
Diluted earnings per common share:          $     0.46   $     0.30  $      1.06  $      1.12
                                            ==========   ==========  ===========  ===========
<FN>
The accompanying notes are an integral part of these statements
</FN>
</TABLE>
                                               4

<PAGE>
<TABLE>
                                                                                 North Bay Bancorp
                                                             Consolidated Statement of Changes in Shareholders' Equity
                                                                                September 30, 2001
                                                                                    (Unaudited)
<CAPTION>

                                                                                         Accumulated
                                                                                               Other            Total
                                         Common Shares         Common       Retained   Comprehensive    Shareholders'  Comprehensive
                                           Outstanding          Stock       Earnings          Income           Equity         Income
                                      ----------------------------------------------------------------------------------------------
<S>                                          <C>          <C>            <C>              <C>           <C>
BALANCE, DECEMBER 31, 2000                   1,850,445    $19,801,000    $ 6,753,000      $   82,000    $ 26,636,000

Stock dividend                                  92,307      1,938,000     (1,950,000)                        (12,000)
Cash dividend                                                               (371,000)                       (371,000)
Comprehensive income:
    Net income                                                             2,094,000                       2,094,000      $2,094,000
    Other comprehensive income, net
       of tax:
       Change in net unrealized
            gains on
       available-for-sale
            securities, net of
            reclassification adjustment                                                    1,245,000       1,245,000       1,245,000
                                                                                                                           ---------
Comprehensive income                                                                                                      $3,339,000
                                                                                                                          ----------
Stock options exercised                         18,150        196,000                                        196,000
                                             ---------    -----------                                   ------------
BALANCE, September 30, 2001                  1,960,902    $21,935,000    $ 6,526,000      $1,327,000    $ 29,788,000
                                             =========    ===========    ===========      ==========    ============
<FN>
The accompanying notes are an integral part of these statements
</FN>
</TABLE>
                                                                 5


<PAGE>

<TABLE>
                                       North Bay Bancorp
                              Consolidated Statement of Cash Flows
                     For The Nine Months Ended September 30, 2001 and 2000
                                          (Unaudited)
                                           (In 000's)
<CAPTION>
                                                                       Nine months Ended September 30,
                                                                           2001             2000
                                                                           ----             ----
<S>                                                                      <C>              <C>
Cash Flows From Operating Activities:
Net income                                                               $2,094           $2,050
Adjustment to reconcile net income to net cash
   provided by operating activities:
  Depreciation and amortization                                             774              391
  Provision for loan losses                                                 333              280
  Amortization of deferred loan fees                                       (337)            (201)
  Premium amortization, net                                                  35               17
  Net loss on sale of investment securities                                   0                3
  Net loss on sale of assets                                                  0                8
  Changes in:
    Interest receivable and other assets                                 (2,167)              24
    Interest payable and other liabilities                                  451              389
                                                                        -------          -------
     Total adjustments                                                     (911)             911
                                                                        -------          -------
   Net cash provided by operating activities                              1,183            2,961
                                                                        -------          -------
Cash Flows From Investing Activities:
Investment securities held-to-maturity:
  Proceeds from maturities and principal payments                            39               37
Investment securities available-for-sale:
  Proceeds from maturities and principal payments                        12,083            7,990
  Proceeds from sales                                                         0            5,151
  Purchases                                                             (42,976)          (6,389)
Net increase in loans                                                   (33,217)         (27,416)
Sale of capital assets                                                       42                5
Capital expenditures                                                     (4,860)          (2,697)
                                                                        -------          -------
   Net cash used in investing activities                                (68,889)         (23,319)
                                                                        -------          -------

Cash Flows From Financing Activities:
Net increase in deposits                                                 62,688           27,190
Increase in long term debt                                                    0            3,000
Repayment of long-term borrowings                                          (692)               0
Increase  in short-term borrowings                                            0           (5,000)
Stock issued, net of issuance costs                                           0            4,867
Stock options exercised                                                     196               88
Dividends paid                                                             (383)            (315)
                                                                          -----          -------
   Net cash provided by financing activities                             61,809           29,830
                                                                        -------          -------
Net increase (decrease) in cash and cash equivalents                     (5,897)           9,472
Cash and cash equivalents at beginning of year                           25,456           10,066
                                                                        -------          -------
Cash and cash equivalents at end of period                              $19,559          $19,538
                                                                        =======          =======
Supplemental Disclosures of Cash Flow Information:
  Interest paid                                                         $ 4,496          $ 4,190
  Income taxes paid                                                     $   851          $ 1,359
  Retirement of fixed assets                                            $   139          $     0


<FN>
The accompanying notes are an integral part of these statements
</FN>
</TABLE>
                                                6

<PAGE>

                                NORTH BAY BANCORP
                 Notes to the Consolidated Financial Statements
                                   (Unaudited)
                               September 30, 2001


NOTE 1 - Basis of Presentation

The accompanying  consolidated financial statements,  which include the accounts
of North Bay Bancorp and its subsidiaries  (the  "Company"),  have been prepared
pursuant to the rules and regulations of the Securities and Exchange  Commission
(SEC) and in Management's opinion,  include all adjustments  (consisting only of
normal recurring  adjustments)  necessary for a fair presentation of results for
such interim  periods.  The  subsidiaries  consist of two community  banks,  The
Vintage Bank,  established in 1985,  and Solano Bank,  which was opened July 17,
2000.  All  significant   intercompany   transactions  and  balances  have  been
eliminated. Certain information and note disclosures normally included in annual
financial  statements  prepared in accordance with generally accepted accounting
principles have been omitted pursuant to SEC rules or regulations;  however, the
Company  believes that the disclosures made are adequate to make the information
presented  not  misleading.  The  interim  results for the nine months and three
months ended  September  30, 2001 and 2000,  are not  necessarily  indicative of
results for the full year. It is suggested  that these  financial  statements be
read in conjunction with the financial  statements and the notes included in the
Company's Annual Report for the year ended December 31, 2000.

NOTE 2 - Commitments

The  Company  has  outstanding   standby  Letters  of  Credit  of  approximately
$1,793,000,  undisbursed  real estate and  construction  loans of  approximately
$19,733,000,  and  undisbursed  commercial  and  consumer  lines  of  credit  of
approximately $28,635,000, as of September 30, 2001.

NOTE 3 - Earnings Per Common Share

The  Company  declared  5% stock  dividends  on January 28, 2000 and January 18,
2001.  As a  result  of  the  stock  dividends,  the  number  of  common  shares
outstanding  and  earnings  per share data was  adjusted  retroactively  for all
periods presented.

The following  table  reconciles the numerator and  denominator of the Basic and
Diluted earnings per share computations:
<TABLE>
<CAPTION>
                                                    Weighted Average            Per-Share
                             Net Income              Shares                     Amount
                             ----------              ------                     ------

                              For the three months ended September 30, 2001
                              ---------------------------------------------
<S>                          <C>                    <C>                         <C>
Basic earnings per share     $918,000               1,958,899                   $.47
Stock options                                          21,390
                                                    ---------
Diluted earnings per share                          1,980,289                   $.46

                              For the three months ended September 30, 2000
                              ---------------------------------------------
Basic earnings per share     $590,000               1,938,599                   $.30
Stock options                                          30,064
                                                    ---------
Diluted earnings per share                          1,968,663                   $.30

                                                    Weighted Average            Per-Share
                             Net Income              Shares                     Amount
                             ----------              ------                     ------

                              For the nine months ended September 30, 2001
                              --------------------------------------------
Basic earnings per share     $2,094,000             1,953,845                   $1.07
Stock options                                          22,140
                                                    ---------
Diluted earnings per share                          1,975,985                   $1.06

                              For the nine months ended September 30, 2000
                              --------------------------------------------
Basic earnings per share     $2,050,000             1,791,492                   $1.14
Stock options                                          33,528
                                                    ---------
Diluted earnings per share                          1,825,020                   $1.12
</TABLE>

                                       7
<PAGE>

NOTE 4 - Comprehensive Income

For the  Company,  comprehensive  income  includes  net income  reported  on the
statement  of income and  changes  in the fair  value of its  available-for-sale
investments reported as a component of shareholders' equity. The following table
presents net income adjusted by the change in unrealized  gains or losses on the
available-for-sale  investments  as a  component  of  comprehensive  income  (in
thousands).

                                                Three Months Ended September 30,
                                                   2001                    2000
                                                   ----                    ----
Net Income                                         $918                    $590
Net change in unrealized gains on
available-for-sale investments, net of tax          811                     465
                                                    ---                     ---
Comprehensive Income                             $1,729                  $1,055
                                                 ======                  ======

                                                 Nine Months Ended September 30,
                                                   2001                    2000
                                                   ----                    ----
Net Income                                       $2,094                  $2,050
Net change in unrealized gains on
available-for-sale investments, net of tax        1,245                     542
                                                  -----                     ---
Comprehensive Income                             $3,339                  $2,592
                                                 ======                  ======

NOTE 5 - Segment Reporting

The Company's  operating  segments consist of its traditional  community banking
activities  provided  through  its  banks  activities  related  to the  Bancorp.
Community banking  activities  include the Banks' commercial and retail lending,
deposit  gathering  and  investment  and  liquidity  management  activities.  As
permitted,  the Company has  aggregated  the results of the  separate  banks and
branches into a single reportable  segment,  and the Bancorp activities reported
as "Other".

The  components  of the  Company's  business  segments for the nine months ended
September 30, 2001 were as follows:

                                                   (In 000's)

                               Community            Intersegment
                                 Banking    Other    Adjustments   Consolidated
                                 -------    -----   ------------   ------------
Interest Income                   15,165       $0              0         15,165
Interest Expense                   4,652      141              0          4,793
                                   -----    -----          -----         ------
   Net Interest Income            10,513     (141)             0         10,372

Provision for loan losses            333        0              0            333
Equity income of subsidiaries          0    2,493          2,493              0
Noninterest Income                 1,783    3,486          3,610          1,659
Noninterest Expense                8,081    4,021          3,610          8,492
                                   -----    -----          -----         ------
Income (Loss)  Before Tax          3,882    1,817          2,493          3,206
Provision for
   Income Taxes                    1,389     (277)             0          1,112
                                   -----    -----          -----         ------
Net Income (Loss)                  2,493    2,094          2,493          2,094
                                   -----    -----          -----         ------



The  components  of the  Company's  business  segments for the nine months ended
September 30, 2000 were as follows:


                                       8

<PAGE>




                                                 (In 000's)

                               Community            Intersegment
                                 Banking    Other    Adjustments   Consolidated
                                --------  -------    -----------   ------------
Interest Income                 $ 12,129  $     0        $    99       $ 12,030
Interest Expense                   4,072       86             99          4,059
                                --------  -------        -------       ---------
   Net Interest Income             8,057      (86)             0          7,971

Provision for loan losses            280        0              0            280
Equity income of subsidiaries          0    2,480          2,480              0
Noninterest Income                 1,782    1,676          1,800          1,658
Noninterest Expense                5,467    2,327          1,800          5,994
                                --------  -------        -------       --------
Income (Loss)  Before Tax          4,092    1,743          2,480          3,355
Provision for
   Income Taxes                    1,612     (307)             0          1,305
                                --------  -------        -------       --------
Net Income (Loss)               $  2,480  $ 2,050        $ 2,480       $  2,050
                                --------  -------        -------       --------

Assets                          $234,932  $28,750        $33,765       $229,917
Loans, Net                       147,503        0              0        147,503
Deposits                         201,666        0          2,096        199,570
Equity                            26,069   25,322         26,069         25,322


                                     Item 2.

         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                              RESULTS OF OPERATIONS

FORWARD LOOKING STATEMENTS

In addition to the historical information this Quarterly Report contains certain
forward-looking   statements.   The  reader  of  this  Quarterly  Report  should
understand  that all such  forward-looking  statements  are  subject  to various
uncertainties  and risks that could affect their outcome.  The Company's  actual
results could differ  materially  from those  suggested by such  forward-looking
statements.  Factors that could cause or contribute to such differences include,
but are not limited  to,  variances  in the actual  versus  projected  growth in
assets,  return on assets,  loan losses,  expenses,  rates  charged on loans and
earned on securities investments,  rates paid on deposits,  competition effects,
the potential effects of the California energy crisis, fee and other noninterest
income  earned,  the  economic  uncertainty  created by the  September  11, 2001
terrorist  attacks  on the World  Trade  Center and the  United  States'  war on
terrorism, as well as other factors. This entire Quarterly Report should be read
to put such  forward-looking  statements  in context and to gain a more complete
understanding of the uncertainties and risks involved in the Company's business.

Moreover,  wherever  phrases  such as or similar to "In  Management's  opinion",
"Management  considers" are used,  such  statements are as of and based upon the
knowledge  of  Management,  at the time  made and are  subject  to change by the
passage of time and/or  subsequent  events,  and accordingly such statements are
subject  to the same  risks  and  uncertainties  noted  above  with  respect  to
forward-looking statements.

OVERVIEW

Net income was  $918,000 or $.46 per diluted  share for the three  months  ended
September  30, 2001,  compared  with  $590,000 or $.30 per diluted share for the
three  months  ended  September  30,  2000,  an increase of 56%.  Net income was
$2,094,000  or $1.06 per diluted  share for the nine months ended  September 30,
2001,  compared  with  $2,050,000 or $1.12 per diluted share for the nine months
ended  September  30, 2000.  Net Income  increased  2%;  diluted share per share
income  decreased 5% due to an increase in the number of shares at September 30,
2001 compared with the September 30, 2000. Total assets were  $313,068,000 as of
September 30, 2001;  equating to a 36% growth in assets during the twelve months
ended September 30, 2001.


                                       9

<PAGE>

SUMMARY OF EARNINGS

NET INTEREST INCOME

The following  table  provides a summary of the  components of interest  income,
interest expense and net interest margin for the nine months ended September 30,
2001 and September 30, 2000:
<TABLE>
<CAPTION>
                                                                 In 000's
                                                   2001                                   2000
                                                   ----                                   ----
                                     Average    Income/       Average      Average     Income/      Average
                                     Balance    Expense    Yield/Rate      Balance     Expense   Yield/Rate
                                ----------------------------------------------------------------------------
<S>                                 <C>         <C>             <C>      <C>           <C>            <C>
 Loans  (1)  (2)                    $169,934    $11,374         8.92%    $ 137,783     $ 9,355        9.05%
 Investment securities:
   Taxable                            53,710      2,387         5,93%       39,123       1,954        6.66%
   Non-taxable (3)                    13,772        625         6.05%       14,018         640        6.09%
                                    --------    -------                  ---------     -------

TOTAL LOANS AND INVESTMENT
SECURITIES                           237,416     14,386         8.08%      190,924      11,949        8.34%
 Due from banks, time                    100          5         6.67%          100           4        5.33%
 Federal funds sold                   26,332        903         4.57%        5,424         210        5.16%
                                    --------    -------                  ---------     -------


TOTAL EARNING ASSETS                 263,848    $15,294         7.73%    $ 196,448     $12,163        8.26%
                                    --------    -------                  ---------     -------
 Cash and due from banks              16,389                                11,398
 Allowance for loan losses            (2,451)                               (2,035)
 Premises and equipment, net           7,566                                 4,244
 Accrued interest receivable
   and other assets                    6,272                                 6,776
                                    --------                             ---------

TOTAL ASSETS                        $291,624                             $ 216,831
                                    ========                             =========

LIABILITIES AND SHAREHOLDERS'
EQUITY
 Deposits:
   Interest bearing demand          $100,010    $ 1,819         2.43%    $  63,797     $ 1,129        2.36%
   Savings                            18,899        180         1.27%       15,790         221        1.87%
   Time                               71,401      2,651         4.95%       64,197       2,534        5.26%
                                    --------    -------         -----    ---------     -------        -----
                                     190,310      4,650         3.26%      143,784       3,884        3.60%

Long-term debt                         2,258        141         8.33%        1,111          86       10.32%
   Short-term borrowings                  75          2         3.56%        2,689          89        4.41%

TOTAL INTEREST BEARING
 LIABILITIES                         192,643    $ 4,793         3.32%      147,584     $ 4,059        3.67%
                                    --------    -------                  ---------     -------
 Noninterest bearing DDA              69,267                                46,569
 Accrued interest payable
   and other liabilities               1,755                                 1,621
 Shareholders' equity                 27,959                                21,057
                                    --------                             ---------

TOTAL LIABILITIES AND
 SHAREHOLDERS' EQUITY               $291,624                             $ 216,831
                                    ========                             =========
NET INTEREST INCOME                             $10,501                                $ 8,104
                                                =======                                =======
NET INTEREST INCOME TO
 AVERAGE EARNING ASSETS
(Net Interest Margin (4))                          5.31%                                  5.50%
<FN>
(1) Average loans include nonaccrual loans.

(2) Loan  interest  income  includes loan fee income of $723 in 2001 and $457 in
2000.


(3) Average yields shown are  taxable-equivalent.  On a non- taxable basis, 2001
interest  income was $496 with an average  yield of 4.80%;  in 2000  non-taxable
income was $507 and the average yield was 4.82%.

(4) Net interest  margin is  calculated  by dividing net interest  income by the
average  balance of total earning assets for the applicable  period.
</FN>
</TABLE>
                                       10
<PAGE>

Net interest income before the provision for loan losses on a taxable-equivalent
basis for the three months ended  September  30, 2001 and September 30, 2000 was
$3,883,000 and $2,880,000,  respectively. These results equate to a 35% increase
in net  interest  income  for the third  quarter of 2001  compared  to the third
quarter of 2000.  Loan fee income,  which is  included  in interest  income from
loans, was $181,000 for the three months ended September 30, 2001, compared with
$144,000 for the three  months ended  September  30, 2000.  Net interest  income
before the provision for loan losses on a taxable-equivalent  basis for the nine
months ended  September  30, 2001 and  September  30, 2000 was  $10,501,000  and
$8,104,000, respectively. These results equate to a 30% increase in net interest
income for the first nine  months of 2001  compared  to the same period in 2000.
Loan fee income,  which is included in interest income from loans,  was $723,000
for the nine months ended  September  30, 2001,  compared  with $457,000 for the
nine months ended  September  30, 2000.  The average  balance of earning  assets
increased  $67,400,000 or 34% during the twelve months ended September 30, 2001.
Taxable-equivalent interest income increased $3,131,000 or 26% in the first nine
months of 2001 compared with the same period of 2000.  Increase in the volume of
earning assets  accounted for  $3,706,000 of this  increase,  with a decrease of
$575,000  attributable to lower rates.  The average balance of  interest-bearing
liabilities  increased  $45,059,000  or 31% during the first nine months of 2001
compared  with  the  same  period  in 2000.  Interest  paid on  interest-bearing
liabilities  increased  $734,000  in 2001  compared  with 2000.  Increase in the
volume of deposits and other borrowings accounted for $970,000 of this increase,
while a $236,000  decrease was  attributable to a decrease in rates.  Management
does not expect a material  change in the Company's  net interest  margin during
the next twelve months as the result of a modest increase or decrease in general
interest rates.

The following  table sets forth a summary of the changes in interest  income and
interest expense for the nine months ended September 30, 2001 over September 30,
2000 resulting  from changes in assets and  liabilities  volumes and rates.  The
change in interest due to both rate and volume has been  allocated in proportion
to the relationship of absolute dollar amounts of change in each.

                                                            In 000's
                                                        2001 Over 2000
                                                        ---------------
                                              Volume          Rate      Total
                                              --------------------------------
Increase (Decrease) In
 Interest and Fee Income
   Time Deposits With Other
    Financial Institutions                        $0            $1          $1
   Investment Securities:
     Taxable                                     729          (296)        433
     Non-Taxable (1)                             (11)           (4)       (15)
   Federal Funds Sold                            809          (116)        693
   Loans                                       2,179          (160)      2,019
                                              --------------------------------
   Total Interest and Fee Income               3,706          (575)      3,131
                                              --------------------------------
Increase (Decrease) In
 Interest Expense
   Deposits:
     Interest Bearing
     Transaction Accounts                        641            49         690
     Savings                                      44           (85)        (41)
     Time Deposits                               283          (166)        117
                                              --------------------------------
   Total Deposits                                968          (202)        766
Long-term Debt                                    89           (34)         55
                                              --------------------------------
Short-term Borrowings                            (87)            0         (87)
                                              --------------------------------
   Total Interest Expense                        970          (236)        734
                                              --------------------------------
   Net Interest Income                        $2,736         ($339)     $2,397
                                              ================================

(1) The interest earned is taxable-equivalent.


                                       11

<PAGE>

PROVISION AND ALLOWANCE FOR LOAN LOSSES

The  Company  maintains  an  allowance  for loan  losses  at a level  considered
adequate to provide for losses that can be reasonably anticipated. The allowance
is  increased by the  provision  for loan losses and reduced by net charge offs.
The  allowance for loan losses is based on  estimates,  and ultimate  losses may
vary from current  estimates.  These estimates are reviewed  periodically and as
adjustments  become  necessary  they are  reported in earnings in the periods in
which they become known.  The Company makes credit reviews of the loan portfolio
and considers current economic  conditions,  historical loan loss experience and
other  factors in  determining  the  adequacy  of the  allowance  balance.  This
evaluation  establishes  a  specific  allowance  for all  classified  loans over
$50,000 and establishes  percentage allowance  requirements for all other loans,
according to the  classification as determined by the Company's internal grading
system.  As of September  30, 2001 the  allowance  for loan losses of $2,601,000
represented 1.40% of loans outstanding.  As of September 30, 2000, the allowance
represented 1.45% of loans  outstanding.  During the nine months ended September
30, 2001, $333,000 was charged to expense for the loan loss provision,  compared
with  $280,000 for the same period in 2000.  There were no net  charge-offs  for
loans for the first nine months of 2001  compared with net  charge-offs  for all
loans of $99,000, or 0.01% of total loans as of September 30, 2000.

The following table summarizes changes in the allowance for loan losses:
<TABLE>
<CAPTION>
                                    In 000's
                                               September 30, 2001   September 30, 2000
<S>                                                        <C>                  <C>
Balance, beginning of year                                 $2,268               $1,987
Provision for loan losses                                     333                  280
Loans charged off                                              (5)                (102)
Recoveries of loans previously charged off                      5                    3
                                                           ------               ------
Balance, end of period                                     $2,601               $2,168
                                                           ======               ======

Allowance for loan losses to total outstanding               1.40%                1.45%
loans
</TABLE>

There were no loans on non-accrual  status at September 30, 2001 or at September
30, 2000.

NON-INTEREST INCOME

Non-interest  income was $547,000 for the three months ended  September 30, 2001
compared with $510,000 for the same period in 2000, a 7% increase.  Non-interest
income was $1,659,000 for the nine months ended September 30, 2001 compared with
$1,661,000  for the same period in 2000,  a .1%  decrease.  The decrease in 2001
income  compared  with 2000 was  primarily  the result of  non-recurring  income
realized  in the second  quarter of 2000 from a stock  sale.  The stock had been
acquired as a result of the demutualization of an insurance company in which the
Company held policies. Other increases in non-interest income resulted primarily
from an  increase  in the number of deposit  accounts,  transaction  volumes and
directly related service charges.

GAIN (LOSSES) ON SECURITIES

There were no gains or losses on  securities  for the three or nine months ended
September 30, 2001. Net losses of $3,000 for the nine months ended September 30,
2000 resulted from the sale of several available-for-sale securities.

NON-INTEREST EXPENSE

Non-interest expense for the three months ended September 30, 2001 and September
30,  2000  was  $2,946,000  and  $2,294,000,   respectively,   a  28%  increase.
Non-interest  expense for the nine months ended September 30, 2001 and September
30, 2000 was  $8,492,000  and  $5,994,000,  respectively,  a 42%  increase.  The
increase  compared with prior reporting  periods is primarily due to the Company
opening its subsidiary de novo bank, Solano Bank, on July 17, 2000. Salaries and
employee benefits expense for the three months ended September 30, 2001 and 2000
were  $1,671,000  and  $1,217,000,  respectively,  a 37% increase.  Salaries and
employee  benefits expense for the nine months ended September 30, 2001 and 2000
were $4,621,000 and $3,239,000,  respectively,  a 43% increase.  The increase in
2001 resulted from

                                       12
<PAGE>

increased  salaries paid to Company  officers and employees,  and an increase of
approximately  twenty-eight full-time equivalent employees from 96 at September,
2000 to 124 at September 30, 2001. The increase in employees is primarily due to
growth of the Company.  Occupancy  expense for the three months ended  September
30, 2001 and 2000 was  $228,000  and  $190,000,  respectively,  a 20%  increase.
Occupancy  expense for the nine  months  ended  September  30, 2001 and 2000 was
$649,000 and $442,000,  respectively,  representing a 47% increase. The increase
in 2001 is  attributed  to opening  three  branch  offices of Solano Bank in mid
2000.  Equipment  expense for the three months ended September 31, 2001 and 2000
was  $247,000  and  $266,000,  respectively,  representing  a  decrease  of  7%.
Equipment  expenses  for the nine months ended  September  30, 2001 and 2000 was
$795,000  and  $614,000,  respectively,  an increase of 29%.  The  increase  was
primarily  due to an  increase  in  depreciation  expense  for new host  banking
systems and new item processing and imaging  systems,  as well as, furniture and
equipment  depreciation expenses of the three new branch offices. Other expenses
for the three  months  ended  September  30,  2001 and  September  30, 2000 were
$800,000 and $621,000, respectively, a 29% increase. Other expenses for the nine
months ended  September  30, 2001 and  September  30, 2000 were  $2,427,000  and
$1,699,000,  respectively,  a 43%  increase.  The  increase  from  last  year is
primarily due to costs  associated  with operating six branch offices in 2001 in
comparison to three in 2000.

INCOME TAXES

The  Company  reported a  provision  for income tax for the three  months  ended
September 30, 2001 and 2000 of $414,000 and $369,000,  respectively. The Company
reported a provision for income tax for the nine months ended September 30, 2001
and 2000 of  $1,112,000  and  $1,305,000,  respectively.  Both the 2001 and 2000
provisions  reflect  tax  accruals at maximum  rates for both  federal and state
income taxes, adjusted for the effect of the Company's investments in tax-exempt
municipal securities.

BALANCE SHEET

Total  assets  as  of  September  30,  2001  were  $313,068,000   compared  with
$229,917,000  as of September 30, 2000,  and  $247,469,000  at December 31, 2000
equating to a 36% increase  during the twelve  months and a 27% increase for the
nine months ended  September 30, 2001.  Total  deposits as of September 30, 2001
were  $279,326,000  compared with  $199,570,000  as of September  30, 2000,  and
$216,638,000 at December 31, 2000  representing a 40% increase during the twelve
months and a 29% increase for the nine months ended  September  30, 2001.  Loans
outstanding   as  of  September  30,  2001  were   $185,830,000   compared  with
$149,671,000  as of September 30, 2000,  and  $152,276,000  at December 31, 2000
equating to a 24% increase  during the twelve  months and a 22% increase for the
nine months ended September 30, 2001.

BORROWINGS

There were no short-term borrowings at September 30, 2001, September 30, 2000 or
December 31, 2000.  Short-term  borrowings  would  consist  primarily of federal
funds  purchased and  borrowings  from Federal Home Loan Bank. The Company has a
$3,000,000 unsecured loan with Union Bank of California,  with a current balance
of $2,077,000. The loan will mature in 2003 with principal and interest payments
due quarterly.  The loan is a variable rate loan tied to Union Bank's  reference
rate,  currently 5.50%.  The proceeds of this loan were primarily  invested into
the Company's subsidiary, Solano Bank.

LIQUIDITY AND CAPITAL ADEQUACY

The  Company's  liquidity  is  determined  by the level of assets (such as cash,
Federal  Funds,  and  investment  in  marketable  securities)  that are  readily
convertible  to cash to meet customer  withdrawals  and  borrowings.  Management
reviews the Company's liquidity position on a regular basis to ensure that it is
adequate to meet  projected  loan funding and potential  withdrawal of deposits.
The Company has a comprehensive Asset/Liability Management and Liquidity Policy,
which it uses to determine adequate  liquidity.  As of September 30, 2001 liquid
assets were 35% of total assets,  compared with 30% as of September 30, 2000 and
34% at December 31, 2000.

The Federal Deposit Insurance  Corporation  Improvement Act (FDICIA) established
ratios used to determine  whether a Company is "Well  Capitalized,"  "Adequately
Capitalized,"    "Undercapitalized,"


                                       13

<PAGE>

"Significantly  Undercapitalized,"  or  "Critically  Undercapitalized."  A  Well
Capitalized  Company has risk-based capital of at least 10%, tier 1 risked-based
capital of at least 6%, and a leverage ratio of at least 5%. As of September 30,
2001, the Company's  risk-based  capital ratio was 12.91%.  The Company's tier 1
risk-based capital ratio and leverage ratio were 11.83% and 9.06%, respectively.

As the  following  table  indicates,  both  The  Vintage  Bank and  Solano  Bank
currently  exceed the regulatory  capital  minimum  requirements.  The Banks are
considered "Well Capitalized" according to regulatory guidelines.
<TABLE>
<CAPTION>
                                                                                    To Be Well Capitalized
                                                            For Capital             Under Prompt Corrective
                                     Actual              Adequacy Purposes             Action Provisions
                                     ------              -----------------             -----------------

                                                              (In 000's)
                               Amount        Ratio       Amount        Ratio         Amount           Ratio
                               ------        -----       ------        -----         ------           -----
<S>                           <C>           <C>         <C>            <C>          <C>              <C>
As of September 30, 2001:
Total Capital (to Risk
   Weighted Assets)
      Consolidated            $31,062       12.91%      $19,243       >8.00%        $24,054         >10.00%
                                                                      -                             -
      The Vintage Bank         22,271       10.62%       16,784       >8.00%         20,981         >10.00%
                                                                      -                             -
      Solano Bank               7,895       27.21%        2,321       >8.00%          2,901         >10.00%
                                                                      -                             -
Tier I Capital (to Risk
   Weighted Assets)
      Consolidated             28,461       11.83%        9,621       >4.00%         14,432          >6.00%
                                                                      -                              -
      The Vintage Bank         19,758        9.42%        8,392       >4.00%         12,588          >6.00%
                                                                      -                              -
       Solano Bank              7,807       26.91%        1,161       >4.00%          1,741          >6.00%
                                                                      -                              -
Tier I Capital (to
   Average Assets)
      Consolidated             28,461        9.06%       12,560       >4.00%         15,699          >5.00%
                                                                      -
      The Vintage Bank         19,758        7.36%       10,735       >4.00%         13,418          >5.00%
                                                                      -                              -
      Solano Bank               7,807       17.11%        1,825       >4.00%          2,281          >5.00%
                                                                      -                              -
</TABLE>
                                     Item 3.

           QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market risk is the exposure to loss  resulting  from changes in interest  rates,
foreign currency  exchange rates,  commodity prices and equity prices.  Although
the Company manages other risks, as in credit quality and liquidity risk, in the
normal  course  of  business,  management  considers  interest  rate  risk to be
principally a market risk. Other types of market risks, such as foreign currency
exchange rate risk, do not arise in the normal course of the Company's  business
activities.  The  majority  of the  Company's  interest  rate risk  arises  from
instruments,  positions and transactions entered into for the purpose other than
trading. They include loans, securities available-for-sale, deposit liabilities,
short-term  borrowings and long-term debt. Interest rate risk occurs when assets
and liabilities reprice at different times as interest rates change.

The Company  manages  interest  rate risk through an Asset  Liability  Committee
(ALCO).  The ALCO monitors  exposure to interest rate risk on a quarterly  basis
using both a traditional gap analysis and simulation  analysis.  Traditional gap
analysis  identifies  short and long-term  interest rate  positions or exposure.
Simulation  analysis uses an income simulation approach to measure the change in
interest income and expense under rate shock conditions. The model considers the
three major factors of (a) volume differences, (b) repricing differences and (c)
timing in its income  simulation.  The model begins by  disseminating  data into
appropriate  repricing  buckets  based on  internally  supplied  algorithms  (or
overridden  by  calibration).  Next,  each  major  asset and  liability  type is
assigned a  "multiplier"  or beta to simulate how much that  particular  balance
sheet  category  type will reprice when interest  rates  change.  The model uses
eight asset and liability  multipliers  consisting of  bank-specific  or default
multipliers.  The remaining  step is to simulate the timing effect of assets and
liabilities  by modeling a  month-by-month  simulation to estimate the change in
interest


                                       14

<PAGE>

income and expense over the next 12-month period. The results are then expressed
as the change in pre-tax net interest income over a 12-month period for +1%, and
+2% shocks.

Utilizing the  simulation  model to measure  interest rate risk at September 30,
2001 the Company is within the established exposure of a 4% change in "return on
equity" tolerance limit. There were no significant changes in interest rate risk
from the annual report on form 10KSB for December 31, 2000.

Since the  beginning  of 2001,  the Board of  Governors  of the Federal  Reserve
System has reduced  interest  rates by 450 basis  points.  North Bay is slightly
asset sensitive,  which means that its interest bearing  liabilities  mature, or
otherwise  reprice,  at a slower rate than its  interest  earning  assets.  As a
result,  in a period of declining  interest  rates,  North Bay will experience a
shrinking of its interest margin as its floating rate loans and investments will
reprice immediately,  while its fixed rate deposits will reprice over the course
of a year.  This reduction in interest  margin may adversely  affect North Bay's
earnings.


                           PART II - OTHER INFORMATION

OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS

Other  than  ordinary  routine  litigation  incidental  to the  business  of the
Company, there are no material pending legal proceedings.


ITEM 6. EXHIBITS AND REPORTS ON FORM-8-K

     (1) Exhibits. An index of Exhibits begins on page 17.

     (2) Current Reports.

          (a)  On July 24, 2001, the Company filed a Current Report on Form 8-K,
               reporting under Item 5 "Other Matters":


               (i)  The issuance of a press  release  announcing  the  Company's
                    earnings for the quarter ended June 30, 2001.


          (b)  On September 19, 2001, the Company filed a Current Report on Form
               8-K, reporting under Item 5 "Other Matters":


               (i)  The release of the Company's  Fall 2001 Edition of The North
                    Bay Voice, a quarterly  newsletter provided to the Company's
                    shareholders.


                                       15

<PAGE>

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
Company has duly caused this quarterly  report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                          NORTH BAY BANCORP
                                          A California Corporation


Date: November 7, 2001              BY:   /s/  Terry L. Robinson
                                               --------------------
                                               Terry L. Robinson
                                               President & CEO
                                               (Principal Executive Officer)


Date: November 7, 2001              BY:   /s/  Lee-Ann Cimino
                                               ------------------------------
                                               Lee-Ann Cimino
                                               Sr. Vice President & CFO
                                               (Principal Financial Officer)


                                       16

<PAGE>


                                  EXHIBIT INDEX

     Exhibit  11.  Statement  re:  computation  of per share data is included in
Footnote 3 to the unaudited consolidated financial statements of Registrant







                                       17