UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
(Mark One)

( X )     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
          SECURITIES EXCHANGE ACT OF 1934

               For the quarterly period ended September 30, 2002

                                       or

(   )     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
          SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

                        Commission File Number: 000-22407


                          SVB Financial Services, Inc.
             (Exact name of registrant as specified in its charter)

         New Jersey                                             22-3438058
(State of other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)



70 East Main Street, Somerville, New Jersey                            08876
(Address of principal executive officers)                            (Zip Code)


                                 (908) 541-9500
              (Registrant's telephone number, including area code)


(Former  name,  former  address and former  fiscal year,  if changed  since last
report)


     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.

                              ( X ) Yes      ( ) No

     Indicate by check mark whether the registrant is an accelerated  filter (as
defined in Rule 126-2 of the Exchange Act).

                              ( ) Yes      ( X ) No

As of November 12, 2002 there were 3,633,106  shares of common stock,  $2.09 par
value  outstanding.  The number of shares  outstanding  has been  adjusted for a
declared stock dividend of 5% on October 31, 2002.


<PAGE>


                          SVB FINANCIAL SERVICES, INC.

                                   FORM 10-QSB

                                      INDEX


PART I     -     FINANCIAL INFORMATION

ITEM 1     -     Financial Statements and Notes to Consolidated Financial
                 Statements

ITEM 2     -     Management's Discussion and Analysis of Financial Condition
                 and Results of Operations

ITEM 3     -     Market Risk

ITEM 4     -     Controls and Procedures

 PART II   -     OTHER INFORMATION

ITEM 1     -     Legal Proceedings

ITEM 2     -     Changes in Securities

ITEM 3     -     Defaults Upon Senior Securities

ITEM 4     -     Submission of Matters to a Vote of Security Holders

ITEM 5     -     Other Information

ITEM 6     -     Exhibits and Reports on Form 8-K


SIGNATURES





<TABLE>
<CAPTION>


SVB FINANCIAL SERVICES, INC.
CONSOLIDATED BALANCE SHEETS                                   September 30,  December 31,
September 30, 2002 and December 31, 2001                          2002          2001
                                                               ---------     ---------
(in thousands)                                                (Unaudited)
ASSETS
<S>                                                            <C>           <C>
Cash & Due from Banks                                          $  28,142     $  16,583
Federal Funds Sold                                                 4,230         9,585
Other Short Term Investments                                          75         5,519
                                                               ---------     ---------
Total Cash and Cash Equivalents                                   32,447        31,687
                                                               ---------     ---------

Interest Bearing Time Deposits                                    13,249         9,670

Securities
   Available for Sale, at Fair Value                              41,581        29,052
   Held to Maturity  (Fair Value $54,843 in 2002                  53,999        41,509
      and $41,829 in 2001)
                                                               ---------     ---------
Total Securities                                                  95,580        70,561
                                                               ---------     ---------

Loans                                                            236,819       209,592
   Allowance for Loan Losses                                      (2,332)       (2,111)
   Unearned Income                                                  (339)         (201)
                                                               ---------     ---------
Net Loans                                                        234,148       207,280
                                                               ---------     ---------

Premises & Equipment, Net                                          5,687         5,164
Other Assets                                                       4,606         3,943
                                                               ---------     ---------
Total Assets                                                   $ 385,717     $ 328,305
                                                               =========     =========
LIABILITIES & SHAREHOLDERS' EQUITY
LIABILITIES
Deposits
Demand
   Non-interest Bearing                                        $  56,751     $  40,993
   NOW                                                            61,425        56,965
Savings                                                           41,399        35,200
Money Market                                                      48,689        37,131
Time
   Greater than $100,000                                          23,648        26,865
   Less than $100,000                                            113,917       100,320
                                                               ---------     ---------
Total Deposits                                                   345,829       297,474
                                                               ---------     ---------

Other Borrowings                                                   9,223         5,747
Obligation Under Capital Lease                                       413           419
Guaranteed Preferred Beneficial Interest in the Corporation
   Subordinated Debentures                                         6,500         4,000
                                                               ---------     ---------
Total Borrowings                                                  16,136        10,166
                                                               ---------     ---------
Other Liabilities                                                  1,376         1,037
                                                               ---------     ---------
Total Liabilities                                                363,341       308,677
                                                               ---------     ---------

SHAREHOLDERS' EQUITY
Common Stock $2.09 Par Value: 20,000,000                           7,218         6,932
   Shares Authorized; 3,453,420 Shares in 2002 and
   3,316,724 Shares in 2001 Issued and Outstanding
Additional Paid-in Capital                                         9,200         8,690
Retained Earnings                                                  5,539         3,762
Accumulated Other Comprehensive Income                               419           244
                                                               ---------     ---------
Total Shareholders' Equity                                        22,376        19,628
                                                               ---------     ---------
Total Liabilities and Shareholders' Equity                     $ 385,717     $ 328,305
                                                               =========     =========
</TABLE>


<PAGE>

<TABLE>
<CAPTION>

SVB FINANCIAL SERVICES, INC.
CONSOLIDATED STATEMENTS OF INCOME                             For the Three Months Ended       For the Nine Months Ended
For the Period Ended September 30,                                2002           2001            2002             2001
                                                             -------------------------------------------------------------
                                                              (Unaudited)     (Unaudited)     (Unaudited)      (Unaudited)
<S>                                                             <C>             <C>             <C>             <C>
(in thousands)
INTEREST INCOME
Loans                                                           $ 4,168         $ 3,940         $11,931         $12,003
Securities Available for Sale                                       420             349           1,216           1,236
Securities Held to Maturity                                         572             410           1,702             763
Other Short Term Investments                                         19               4              68               6
Interest Bearing Time Deposits                                      142             134             408             413
Federal Funds Sold                                                   51             202             200             497
                                                             -------------------------------------------------------------
Total Interest Income                                             5,372           5,039          15,525          14,918
                                                             -------------------------------------------------------------

INTEREST EXPENSE
Deposits                                                          1,667           2,194           5,205           6,844
Other Borrowings                                                     96              23             254              27
Obligation Under Capital Lease                                        8               9              26              27
Guaranteed Preferred Beneficial Interest in the
      Corporation Subordinated Debentures                            90              49             203              49
                                                             -------------------------------------------------------------
Total Interest Expense                                            1,861           2,275           5,688           6,947
                                                             -------------------------------------------------------------

Net Interest Income                                               3,511           2,764           9,837           7,971
PROVISION FOR LOAN LOSSES                                           125              90             360             285
                                                             -------------------------------------------------------------
Net Interest Income after Provision for Loan Losses               3,386           2,674           9,477           7,686
                                                             -------------------------------------------------------------

OTHER INCOME
Service Charges on Deposit Accounts                                 214             189             628             566
Gains on the Sale of Securities Available for Sale, Net              50              --              73              --
Gains on the Sale of Loans                                           26             115             149             202
Other Income                                                         86              94             354             256
                                                             -------------------------------------------------------------
Total Other Income                                                  376             398           1,204           1,024
                                                             -------------------------------------------------------------

OTHER EXPENSE
Salaries and Employee Benefits                                    1,379           1,139           4,035           3,343
Occupancy Expense                                                   391             349           1,158           1,018
Equipment Expense                                                   142             121             408             361
Other Expenses                                                      814             636           2,242           1,944
                                                             -------------------------------------------------------------
Total Other Expense                                               2,726           2,245           7,843           6,666
                                                             -------------------------------------------------------------

Income Before Provision for Income Taxes                          1,036             827           2,838           2,044
Provision for Income Taxes                                          386             314           1,061             762
                                                             -------------------------------------------------------------
Net Income                                                      $   650         $   513         $ 1,777         $ 1,282
                                                             =============================================================

EARNINGS PER SHARE - Basic (1)                                  $  0.18         $  0.14         $  0.50         $  0.37
                                                             =============================================================
EARNINGS PER SHARE - Diluted (1)                                $  0.18         $  0.14         $  0.49         $  0.36
                                                             =============================================================
</TABLE>


(1)  Amounts have been restated for stock dividends (see Note 6).

<PAGE>

<TABLE>
<CAPTION>

SVB FINANCIAL SERVICES, INC.
CONSOLIDATED STATEMENTS OF

COMPREHENSIVE INCOME
For the Period Ended September 30,

                                                For the Three Months Ended    For the Nine Months Ended
                                                   2002            2001          2002           2001
                                                --------------------------------------------------------
(in thousands)                                  (Unaudited)     (Unaudited)   (Unaudited)    (Unaudited)
<S>                                               <C>            <C>            <C>            <C>
Net Income                                        $  650         $  513         $1,777         $1,282
Other Comprehensive Income, Net of Tax
   Unrealized Gains Arising in the Period,
   Net of Reclassification Adjustments               105            264            175            426
                                                --------------------------------------------------------
Comprehensive Income                              $  755         $  777         $1,952         $1,708
                                                ========================================================
</TABLE>



<PAGE>

<TABLE>
<CAPTION>

SVB FINANCIAL SERVICES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Period Ended September 30,                                     2002             2001
                                                                  ------------------------------
                                                                    (Unaudited)     (Unaudited)
<S>                                                                 <C>               <C>
(in thousands)
OPERATING ACTIVITIES
Net Income                                                          $  1,777          $  1,282
Adjustments to Reconcile Net Income to
   Net Cash Provided by Operating Activities:
Provision for Loan Losses                                                360               285
Depreciation and Amortization                                            467               440
Amortization of Securities Premium                                       388                39
Gains on the Sale of Securities
   Available for Sale, Net                                               (73)               --
Gains on the Sale of Loans                                              (149)             (202)
Increase in Other Assets                                                (753)             (467)
Increase in Other Liabilities                                            339               452
Increase in Unearned Income                                              138                19
                                                                  ------------------------------
Net Cash Provided By Operating Activities                              2,494             1,848
                                                                  ------------------------------

INVESTING ACTIVITIES
Increase in Interest Bearing Time Deposits                            (3,579)             (593)
Proceeds from the Sale of Securities
   Available for Sale                                                  6,021               208
Proceeds from Maturities of Securities
   Available for Sale                                                 10,898            17,263
   Held to Maturity                                                   20,333             4,520
Purchases of Securities
   Available for Sale                                                (29,254)          (11,528)
   Held to Maturity                                                  (33,067)          (33,743)
Increase in Loans, Net                                               (27,217)          (18,011)
Capital Expenditures                                                    (990)             (652)
                                                                  ------------------------------
Net Cash Used for Investing Activities                               (56,855)          (42,536)
                                                                  ------------------------------

FINANCING ACTIVITIES
Net Increase in Demand Deposits                                       20,218            17,326
Net Increase in Savings Deposits                                       6,199             7,243
Net Increase in Money Market Deposits                                 11,558            10,076
Net Increase in Time Deposits                                         10,380            20,325
Increase in Other Borrowings                                           3,476             1,675
Decrease in Obligation Under Capital Lease                                (6)               (6)
Issuance of Guaranteed Preferred Beneficial Interest in the
   Corporation Subordinated Debentures                                 2,500             4,000
Proceeds from the Issuance of Common Stock, Net                          796               225
Purchase of Common Stock, Net                                             --               (15)
                                                                  ------------------------------
Net Cash Provided by Financing Activities                             55,121            60,849
                                                                  ------------------------------
Increase in Cash and Cash Equivalents                                    760            20,161
Cash and Cash Equivalents, Beginning of Year                          31,687             8,358
                                                                  ------------------------------
Cash and Cash Equivalents, End of Period                            $ 32,447          $ 28,519
                                                                  ==============================

SUPPLEMENTAL DISCLOSURE OF CASH FLOW
   INFORMATION
Cash Paid During the Year for Interest                              $  5,796          $  7,016
                                                                  ==============================
Cash Paid During the Year for Federal Income Taxes                  $  1,075          $    453
                                                                  ==============================
</TABLE>

<PAGE>


                          SVB FINANCIAL SERVICES, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                         September 30, 2002 (UNAUDITED)


1. SVB Financial Services,  Inc., (the "Company"),  a bank holding company,  was
incorporated  on  February 7, 1996 for the sole  purpose of becoming  the parent
holding company for Somerset Valley Bank ("the Bank"), a full service commercial
bank  incorporated  in 1990. SVB Bald Eagle Statutory Trust I and SVB Bald Eagle
Statutory  Trust II,  subsidiaries  of the Company,  were created to issue trust
preferred  securities  to assist  the  Company  to raise  additional  regulatory
capital.  The Bank has one subsidiary Somerset Valley Investment  Company,  Inc.
During the first  quarter of 2002,  Somerset  Valley  Investment  Company,  Inc.
became the parent company of West End One Corp., a company  incorporated  in the
State of  Delaware  which  manages an  investment  portfolio  for the benefit of
Somerset Valley Investment Company.

     The consolidated  financial  statements  included herein have been prepared
without an audit  pursuant to the rules and  regulations  of the  Securities and
Exchange  Commission.  Certain  information  and footnote  disclosures  normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles have been omitted pursuant to such rules and regulations.
The  accompanying   condensed  consolidated  financial  statements  reflect  all
adjustments  which  are,  in the  opinion  of  management,  necessary  to a fair
statement of the results for the interim periods presented. Such adjustments are
of a normal recurring nature. These consolidated  condensed financial statements
should be read in  conjunction  with the audited  financial  statements  and the
notes thereto.  The results for the nine months ended September 30, 2002 are not
necessarily  indicative  of the results  that may be expected for the year ended
December 31, 2002.

     The  consolidated  financial  statements  include the  accounts of Somerset
Valley Bank. All significant  inter-company  accounts and transactions have been
eliminated.

2.   Loans

     At September 30, 2002 and December 31, 2001 the  composition of outstanding
loans is summarized as follows:

                                                 September 30,     December 31,
                                                     2002             2001
                                                   --------         --------
        (in thousands)
        Secured by Real Estate:
           Residential Mortgage                    $ 73,413         $ 67,598
           Commercial Mortgage                      102,161           75,905
           Construction                              26,257           21,438
        Commercial and Industrial                    22,030           28,105
        Loans to Individuals for Automobiles          4,376            6,640
        Loans to Individuals                          8,133            9,249
        Other Loans                                     449              657
                                                   --------         --------
                                                   $236,819         $209,592
                                                   ========         ========


     There were no loans restructured  during 2002. Loans totaling $301,000 were
restructed as of December 31, 2001. There were no loans past due 90 days or more
and still  accruing at September 30, 2002 or at December 31, 2001.  Loans in non
accrual status  totaled  $692,000 at September 30, 2002 and $510,000 at December
31, 2001.

<PAGE>


 3.  Allowance for Loan Losses

     The allowance for loan losses is based on estimates and ultimate losses may
vary from the current estimates.  These estimates are reviewed  periodically and
as adjustments become necessary,  they are reflected in operations in the period
in which they become  known.  An analysis of the allowance for loan losses is as
follows:

                                              Nine Months
                                                 Ended         Year Ended
                                              September 30,    December 31,
        (in thousands)                            2002            2001
                                                -------          -------
        Balance January 1,                      $ 2,111          $ 1,823
        Provision Charged to Operations             360              365
        Charge Offs                                (178)            (109)
        Recoveries                                   39               32
                                                -------          -------
        Balance End of Period                   $ 2,332          $ 2,111
                                                =======          =======

4.   Guaranteed Preferred Beneficial Interest in Corporation Subordinated
     Debentures

     The Company  participates in two pooled  institutional  placements of trust
preferred securities arranged by a third party. The Company purchased the common
stock of SVB Bald Eagle  Statutory  Trust I on July 30,  2001 and funding of the
trust  preferred  securities  took  place on July 31,  2001.  This  subordinated
debenture  will be redeemed in the year 2031.  At September  30, 2002,  the rate
paid on this subordinated  debenture of $4.0 million based on 3-month LIBOR plus
358 basis points was 5.39% and is adjusted in January, April, July and October.

     On June 25,  2002,  the Company  purchased  common  stock of SVB Bald Eagle
Statutory Trust II and funding of the trust  preferred  securities took place on
June 26, 2002. This subordinated debenture will be redeemed in the year 2032. At
September 30, 2002, the rate paid on this subordinated debenture of $2.5 million
based on 3-month LIBOR plus 345 basis points was 5.24% and is adjusted in March,
June, September and December.

5.   New Accounting Pronouncement

     On June 29, 2001, the Financial  Accounting  Standards  Board (FASB) issued
Statement  of  Financial   Accounting   Standards   (SFAS)  No.  141,   Business
Combinations, and SFAS No. 142, Goodwill and Intangible Assets. These statements
are expected to result in  significant  modifications  relative to the Company's
accounting for goodwill and other intangible assets.  SFAS No. 141 requires that
all business  combinations  initiated  after June 30, 2001 must be accounted for
under the  purchase  method  of  accounting.  SFAS No.  141 was  effective  upon
issuance.  SFAS No. 142 modifies the accounting  for all purchased  goodwill and
intangible  assets.  SFAS No. 142  includes  requirements  to test  goodwill and
indefinite  lived  intangible  assets for impairment  rather than amortize them.
SFAS No. 142 will be effective  for fiscal years  beginning  after  December 31,
2001 and early  adoption  is not  permitted  except  for  business  combinations
entered into after June 30, 2001.  The Company has adopted SFAS No. 141 and SFAS
No. 142 and these  Statements  did not have a material  impact on the  Company's
financial position or results of operations.

     On July 6, 2001, the Securities and Exchange  Commission (SEC) issued Staff
Accounting Bulletin (SAB) No. 102, Selected Loan Loss Allowance  Methodology and
Documentation  Issues.  SAB  No.  102  provides  guidance  on  the  development,
documentation  and  application of a systematic  methodology for determining the
allowance  for loans and leases in  accordance  with US GAAP.  The  Company  has
adopted  SAB No.  102 and it did not have a  material  impact  on the  Company's
financial position or results of operations.

<PAGE>

     In  August  2001,  the  FASB  issued  SFAS  No.  144,  "Accounting  for the
Impairment or Disposal of Long-Lived  Assets." SFAS No. 144 retains the existing
requirements to recognize and measure the impairment of long-lived  assets to be
held and used or to be disposed of by sale. However,  SFAS No. 144 makes changes
to the  scope  and  certain  measurement  requirements  of  existing  accounting
guidance.  SFAS No. 144 also changes the requirements  relating to reporting the
effects of a disposal or  discontinuation  of a segment of a business.  SFAS No.
144 is effective  for  financial  statements  issued for fiscal years  beginning
after  December 15, 2001 and interim  periods  within those  fiscal  years.  The
Company has adopted SFAS No. 144 and it did not have a significant impact on the
financial condition or results of the operations of the Company.

     On January 1, 2002, the Company  adopted  Statement of Position (SOP) 01-6,
Accounting by Certain Entities That Lend to or Finance the Activities of Others,
which  reconciles  and  conforms  existing  differences  in the  accounting  and
financial reporting guidance in the AICPA Audit and Accounting Guides, Banks and
Savings Institutions,  Audits of Credit Unions, and Audits of Finance Companies.
It also carries forward accounting guidance for practices deemed to be unique to
certain  financial  institutions.  The adoption of this SOP had no impact on the
Company's financial position or results of operations.

6.   Subsequent Event

     On October 31, 2002,  the Board of  Directors of the Company  declared a 5%
stock  dividend  payable to holders of record  November 14, 2002 on November 29,
2002.  Per share  information in this 10-QSB report has been restated to reflect
the affects of the stock dividend.

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS

     Management of SVB Financial Services,  Inc. (the "Company") is not aware of
any known  trends,  events  or  uncertainties  that will have or are  reasonably
likely to have a material effect on the Company's  liquidity,  capital resources
or results of operations.  The following  discussion and analysis should be read
in  conjunction  with  the  detailed  information  and  consolidated   financial
statements,  including  notes thereto,  included  elsewhere in this report.  The
consolidated  financial  condition  and results of operations of the Company are
essentially those of the Bank. Therefore,  the analysis that follows is directed
to the  performance  of the  Bank.  Such  financial  condition  and  results  of
operations are not intended to be indicative of future performance.

     In  addition  to  historical  information,  this  discussion  and  analysis
contains forward-looking  statements.  The forward-looking  statements contained
herein are subject to certain  risks and  uncertainties  that could cause actual
results  to  differ  materially  from  those  projected  in the  forward-looking
statements.  Important factors that might cause such a difference  include,  but
are not limited  to,  those  discussed  in the  section  entitled  "Management's
Discussion  and  Analysis of  Financial  Condition  and Results of  Operations."
Readers  are  cautioned  not to place undue  reliance  on these  forward-looking
statements,  which reflect  management's  analysis only as the date hereof.  The
Company  undertakes no obligation  to publicly  revise or update these  forward-
looking  statements to reflect events or circumstances that arise after the date
hereof.

Non Banking Products and Affiliations
-------------------------------------

     The Company has reentered into a service  agreement  with Aurora  Financial
Group,  Inc.  to  provide   origination/processing   and  closing  services  for
residential mortgage loans. The Company sells mortgage loans to Aurora Financial
Group,  Inc. on a  non-recourse  basis and receives  fee income.  An employee of
Aurora Financial Group, Inc. is on-site for these purposes.

Results of Operations
---------------------

     Net income for the first nine months of 2002 was $1,777,000, an increase of
$495,000 or 39% as compared to the same period in 2001. Earnings per share-Basic
were $.50 in 2002 and $.37 in 2001. Earnings per share-Diluted were $.49 in 2002
and $.36 in 2001. Earnings per share have been restated for the stock dividends.

<PAGE>


     A detailed discussion of the major components of net income follows:

Net Interest Income
-------------------

     Net  interest  income  for the first nine  months of 2002 was $9.8  million
compared to $8.0 million in 2001, an increase of $1.8 million or 23%.

     Almost all of the  increase  can be  attributed  to an  increase in average
earnings  assets.  Average earning assets for the first nine months of 2002 were
$344.2  million,  an increase of $84.8  million or 33% from the same period last
year.  Loans averaged $222.1 million during the nine months of 2002, an increase
of $34.0  million or 18% from last year.  The increase in loan  balances  caused
interest income to increase $2.0 million.  Investment  securities averaged $87.8
million, an increase of $41.7 million or 90% from the same period last year.

     The  yield  on loans  decreased  from  8.53% in 2001 to 7.18% in 2002.  The
decrease in yield caused interest income on loans to decrease $2.1 million.  The
yield on earning  assets was 6.03% for 2002 and 7.69% for 2001.  The  effects of
the 125 basis  points  decrease in the prime rate since  September  30, 2001 are
reflected in the yield. Overall, interest income increased $607,000.

     The  overall  cost of  interest-bearing  liabilities  decreased  from 4.28%
during  2001 to 2.57% this year.  Average  interest-bearing  deposits  increased
$68.6 million during the first nine months of 2002 to $283.3  million.  Compared
to last year  savings  deposits,  money  market  deposits  and NOW  accounts had
significant growth increasing 112%, 76% and 44%,  respectively.  The increase in
deposits  caused interest  expense to increase $1.2 million.  A decline in rates
paid on all types of deposits, caused interest expense to decrease $2.9 million.
Advances  from the  FHLB  and the  subordinated  debentures  accounted  for $7.0
million   and   $4.0   million,   respectively,   of  the   increase   in  total
interest-bearing liabilities. An aggressive, yet competitive, effort by the Bank
to control  its  interest  costs has  helped to almost  offset the effect of the
decline in the yield of earning assets.

     The increase in volume and the  decrease in interest  expense for the first
nine  months of 2002  versus  the same  period of 2001  caused net  interest  to
increase $1.9 million.  However, the net interest margin decreased from 4.11% to
3.82% as a result of the impact of the interest  rate  reductions by the Federal
Reserve which totaled 475 basis points during 2001.

Provision for Loan Losses
-------------------------

     The provision for loan losses was $360,000 in the first nine months of 2002
as compared to $285,000  during the first nine months of 2001.  The  increase in
provision  is based on the  Company's  most  recent  analysis  and can mostly be
attributed to growth in loans of $39.5  million  since  September 30, 2001 along
with an increase in net charge offs of $62,000 for the comparable periods.

Other Income
------------

     The Company has continued to place an emphasis on improving its fee income.

     During the first nine months of 2002, total other income increased $180,000
or 18%  over the same  period  in 2001.  Service  charges  on  deposit  accounts
increased  $62,000 or 11% from 2001.  The growth in the number of commercial and
consumer checking accounts  contributed to this increase.  Additionally,  income
derived from sweep accounts,  wire transfer fees and foreign transaction fees at
the Company's ATM machines have all increased from last year and  contributed to
74% of this increase.

     The Bank recognized net gains on the sale of securities  available for sale
of $73,000 during the first nine months of 2002. No gains were recognized during
2001.


<PAGE>


     Gains on the sale of total  loans  decreased  $53,000  or 26% from the same
period in 2001.  The Company is a preferred SBA lender and, as such,  originates
SBA loans and sells the government  guaranteed  portions in the secondary market
while  retaining the servicing.  The amount of gains  recognized on SBA loans is
dependent on the volume of new SBA loans  generated each quarter.  These amounts
can vary greatly from quarter to quarter and from year to year.

     Other income increased $98,000 or 38% as compared to 2001. Included in this
amount is a one time gain of $51,000 resulting from the  demutualization  of the
Company's health  insurance  provider.  Mortgage  servicing fees and income from
Visa/Master Card increased $26,000 and $12,000, respectively.

Other Expense
-------------

     Other expenses for the first nine months ended September 30, 2002 increased
$1.2  million or 18% from the same  period  last year.  Total  assets have grown
$81.1 million or 27% since September 30, 2001.  Because of the growth in assets,
the Company has had to hire additional personnel. In addition, the Company added
two new branch locations to its branch network.  The Edison office opened in May
of 2001 and the Warren  branch  during  September of this year.  The Company has
also expanded its services to include retail insurance and investment  products.
These  additions,  coupled  with  normal  salary  increases,  caused  salary and
benefits to increase $692,000 or 21% from the same period last year.

     Rent on our  recently  relocated  Hillsborough  office  and our new  branch
location in Warren  along with  depreciation  expenses  related to building  and
customizing these locations  resulted in a $140,000 or 14% increase in occupancy
costs.  Rent on the former  Hillsborough  location will be expensed  through its
lease period ending December 2003.  Equipment  expense  increased $47,000 or 13%
from 2001 due to increased  use and  maintenance  of  computers.  Other  expense
increased $298,000 or 15% from the same period last year.  Miscellaneous outside
services  represented  $124,000  or  42%  of  this  increase  due  to  increased
correspondent bank charges and consultant fees.

Financial Condition
September 30, 2002 compared to December 31, 2001
------------------------------------------------

     Total assets were $385.7  million at September  30, 2002  increasing  $57.4
million or 17% from December 31, 2001.  Total loans  increased  $27.2 million or
13%.  Loans  secured  by real  estate  grew by  $36.9  million.  Commercial  and
industrial loans and loans to individuals for automobiles decreased $6.1 million
and $2.3 million, respectively.

     Deposits  increased  $48.4  million or 16% during the first nine  months of
2002. All categories of deposits  improved  during the period with the exception
of  certificates  of deposits  greater than $100,000.  Demand deposits and money
market  deposits  grew by $15.8  million,  and $11.6  million,  respectively.  A
transfer  from  certificates  of deposits  greater than $100,000 by one customer
contributed  to $4.2  million of the growth in money  market  accounts  and $2.5
million in demand deposits. Certificates of deposits less than $100,000, savings
deposits and NOW  accounts  increased  by $13.6  million,  $6.2 million and $4.5
million,  respectively.  The Company has remained  competitive in the pricing of
its  certificates  of deposits and believes it has benefited from the decline in
the stock market causing customers to move funds to insured instruments.


     Investment securities and interest-bearing time deposits grew $25.0 million
and $3.6 million,  respectively,  as a result of deposit  growth out pacing loan
growth.

Asset Quality
-------------

     There  were no  loans  past due 90 days or more and  still  accruing  as of
September 30, 2002 or December 31, 2001.

<PAGE>


     Loans in a non-accrual  status  totaled  $692,000 at September 30, 2002 and
represented 0.29% of total loans.  Loans in non-accrual  status totaled $510,000
at  December  31,  2001 and  represented  0.24% of total  loans.  The balance of
existing  restructed loans was $275,000 as of September 30, 2002 and $301,000 as
of December 31, 2001.

     Loans  considered to be impaired  totaled $829,000 at September 30, 2002, a
valuation reserve of $139,000 is attributed to these loans.

     The Company had no other real estate owned at September 30, 2002.

Allowance for Loan Losses
-------------------------

     The  Company  maintains  an  allowance  for loan  losses at a level  deemed
sufficient to absorb  losses,  which are inherent in the loan  portfolio at each
balance  sheet date.  Management  determines  the adequacy of the allowance on a
monthly  basis to ensure that the  provision  for loan  losses has been  charged
against  earnings in an amount  necessary to maintain  the  allowance at a level
that is  appropriate  based on  management's  assessment  of probable  estimated
losses.  The Company's  methodology  for assessing  the  appropriateness  of the
allowance  for loan  losses  consists of several key  elements.  These  elements
include a specific  allowance for all commercial  loans based upon a risk rating
assigned  to the loan,  an  allowance  for  homogeneous  types of loans  such as
consumer  installment loans,  residential  mortgage loans and home equity loans,
and an additional  allowance for loans deemed to be impaired and an  unallocated
portion.   The  Company   consistently   applies  the  following   comprehensive
methodology.

     All  commercial  loans are assigned a two-digit  risk rating at the time of
closing.  The first digit of the rating  refers to the  strength of the borrower
based on their financial condition and past history. Current economic conditions
and the effect on the  borrower's  business  are also taken  into  account.  The
second digit refers to the  collateral  strength and  liquidity  with zero being
assigned to unsecured  loans. An allowance  amount is then assigned to each risk
rating.  Since, in its ten-year history, the Company has had very few commercial
loan  losses,  the  amount  of the  allowance  is  based  on the  experience  of
management  and their  judgement  with  respect to these types of loans.  A risk
rating may be changed  with the  approval of the senior loan  officer.  A rating
change may be requested  if the  individual  loan  officer or the Bank's  credit
analyst is aware of a change in the borrower's financial condition. In addition,
approximately  60% of the dollar amount of  commercial  loans are reviewed on an
annual basis by an outside  independent  loan review firm at which time a change
to the risk rating may be recommended.

     The  allowance for  homogenous  loans is  established  based on a number of
factors,  including  current  economic  conditions and the loss  experience with
these types of loans as well as Management's judgement.

     Loans are  deemed to be  impaired  if they are 60 days or more past due for
principal or interest or are in a non-accrual  status.  If there is insufficient
collateral  to pay the amount of the loan an  allowance is  determined  over and
above the amount  required by the risk rating by taking the  difference  between
the carrying  amount of the loan and the present  value of expected  future cash
flows discounted at the loans current rate less any amounts already  established
by the risk rating.


     The Company  also  maintains  an  unallocated  allowance.  The  unallocated
allowance  is used to  cover  any  factors  or  conditions,  which  may  cause a
potential  loan loss but are not  specifically  identifiable.  It is  prudent to
maintain an unallocated  portion of the allowance because no matter how detailed
an analysis of potential loan losses is performed, these estimates by definition
lack precision.

     Since all identified losses are immediately  charged off, no portion of the
allowance  for loan losses is  restricted  to any  individual  loan or groups of
loans, and the entire allowance is available to absorb any and all loan losses.

<PAGE>


     A loan  is  placed  in a  non-accrual  status  at the  time  when  ultimate
collectability of principal or interest,  wholly or partially, is in doubt. Past
due loans are those loans which were  contractually  past due 90 days or more as
to interest or  principal  payments  but are well  secured and in the process of
collection.

     At September  30, 2002,  the allowance for loan losses was $2.3 million and
represented 0.98% of total loans and 241.16% of non-performing loans compared to
an  allowance  for loan losses at December  31, 2001 of $2.1 million or 1.01% of
total loans and 260.30% of non-performing loans.

     Net charge-offs for the first nine months of 2002 totaled $139,000 compared
to $77,000 for the year ended  December 31, 2001.  Most of the  charge-offs  for
2002 were  concentrated in one loan,  which occurred during the first quarter of
this year.

Capital Resources
-----------------

     Total Shareholders' Equity was $22.4 million at September 30, 2002 compared
to $19.6 million at December 31, 2001.  Subordinated debentures in the amount of
$6.5 million are also included in the  calculation of regulatory  capital ratios
with certain limitations.

     Under the FDIC  Improvement  Act of 1991,  banks are required to maintain a
minimum  ratio of total  capital to risk based assets of 8% of which at least 4%
must be in the form of Tier I  Capital  (primarily  Shareholders'  Equity).  The
following are the Company's capital ratios at the end of the periods indicated.

                                                  September 30,    December 31,
                                                      2002            2001
                                                      ----            ----
         Tier I Capital to Risk Weighted Assets      10.39%           9.50%
         Total Capital to Risk Weighted Assets       11.27%          10.39%
         Leverage Ratio                               7.20%           7.86%

Liquidity
---------

     Cash and Cash  Equivalents  totaled $32.4 million at September 30, 2002, an
increase of $760,000 since December 31, 2001.

     The  increase in Cash and Cash  Equivalents  was a  combination  of various
components  of the  balance  sheet.  Total  Deposits  increased,  which  in turn
contributed  to an increase in cash  provided by financing  activities  of $55.1
million. Demand deposit, money market deposits and time deposits experienced the
largest increases for the nine month period of $20.2 million,  $11.6 million and
$10.4 million, respectively. An additional $2.5 million was provided through the
issuance of  subordinated  debentures.  These  increases were offset by net cash
used for investing  activities of $56.9  million.  Investment in securities  and
loans accounted for $62.3 million and $27.2 million, respectively. The remainder
of  the  increase  of  cash  and  cash  equivalents  was  related  to  operating
activities.


ITEM 3 - MARKET RISK

     The Company's  market risk is primarily its exposure to interest rate risk.
Interest  rate risk is the effect that changes in interest  rates have in future
earnings.  The principal objective in managing interest rate risk is to maximize
net  interest  income  within  the  acceptable  levels  of risk  that  have been
previously established by policy.

     Please refer to pages 32-34  "Interest  Rate  Sensitivity  Analysis" in the
2001 Annual  Report.  The Company did continue to experience  the effects of the
eleven interest rate decreases  totaling 475 basis points in 2001. The Company's
net  interest  margin was 3.80% in the fourth  quarter of 2001 and was 3.82% for
the period ending  September 30, 2002.  The average net interest  margin for the
calendar years 1999-2001 was 4.43%. There has been no material changes in market
risk since December 31, 2001.

<PAGE>

ITEM 4 - CONTROLS AND PROCEDURES

     The  Company's  Chief  Executive   Officer  and  Chief  Financial   Officer
(collectively,  the "Certifying  Officers") are responsible for establishing and
maintaining  disclosure  controls and procedures for the Company.  Such officers
have concluded  (based upon their evaluation of these controls and procedures as
of a date  within  90 days of the  filing  of this  report)  that the  Company's
disclosure  controls and  procedures  are  effective to ensure that  information
required  to be  disclosed  by the  Company in this  report is  accumulated  and
communicated  to the Company's  management,  including  its principal  executive
officers  as  appropriate,   to  allow  timely  decisions   regarding   required
disclosure.

     The Certifying  Officers also have indicated that there were no significant
changes  in  the  Company's  internal  controls  or  other  factors  that  could
significantly  affect such controls  subsequent to the date of their evaluation,
and there were no corrective actions with regard to significant deficiencies and
material weaknesses.

                           PART II-OTHER INFORMATION
                           -------------------------

ITEM 1-     Legal Proceedings
            -----------------

            The  Company  is  party  in  the  ordinary  course  of  business  to
            litigation involving  collection matters,  contract claims and other
            miscellaneous causes of action arising from its business. Management
            does not consider  that such  proceedings  depart from usual routine
            litigation and, in its judgment,  the Company's  financial  position
            and results of  operations  will not be affected  materially by such
            proceedings.

ITEM 2-     Changes in Securities
            ---------------------
            None.

ITEM 3-     Defaults upon Senior Securities
            -------------------------------
            None.

ITEM 4-     Submission of Matters to a Vote of Security Holders
            ---------------------------------------------------
            None.

ITEM 5-     Other Information
            -----------------

            The common  stock of the  Company  is traded on the Nasdaq  National
            Market,  under the trading  symbol SVBF. On September 30, 2002,  the
            closing bid of the Company's common stock was $15.81 per share.

            The Company has a web site located at www.somersetvalleybank.com.

            Mr. Herman C. Simonse who serves as President of West End One Corp.,
            resigned as a member of the Audit  Committee and was replaced by Mr.
            Bernard Bernstein.

ITEM 6-     Exhibits and Reports on Form 8-K
            --------------------------------
        (a) Exhibits
            --------
            None

        (b) Form 8-K
            --------
            There has been one report on Form 8-K filed during the third quarter
            of 2002. July 11, 2002---------Second Quarter Earnings

<PAGE>


                                   SIGNATURES

I, Robert P.  Corcoran,  hereby  certify  that the  periodic  report being filed
herewith containing financial statements fully complies with the requirements of
section 13(a) or 15(d) of the Securities Exchange Act of 1934 (16 U.S. C. 78m or
78o(d)) and that information  contained in said periodic report fairly presents,
in all material respects,  the financial  condition and results of operations of
SVB Financial Services, Inc. for the period covered by said periodic report.


                                                SVB FINANCIAL SERVICES, INC.
                                                (Registrant)


                                                /s/ Robert P. Corcoran
                                                ----------------------------
                                                Robert P. Corcoran
                                                Chief Executive Officer



I, Keith B.  McCarthy,  hereby  certify  that the  periodic  report  being filed
herewith containing financial statements fully complies with the requirements of
section 13(a) or 15(d) of the Securities Exchange Act of 1934 (16 U.S. C. 78m or
78o(d)) and that information  contained in said periodic report fairly presents,
in all material respects,  the financial  condition and results of operations of
SVB Financial Services, Inc. for the period covered by said periodic report.


                                                SVB FINANCIAL SERVICES, INC.
                                                (Registrant)


                                                /s/ Keith B. McCarthy
                                                ------------------------------
                                                Keith B. McCarthy
                                                Chief Financial Officer
                                                Chief Accounting Officer

Dated:  November 12, 2002



<PAGE>

                                  CERTIFICATION


I, Robert P. Corcoran, President and Chief Executive Officer, certify, that:

     1.   I have  reviewed this  quarterly  report on Form 10-Q of SVB Financial
          Services, Inc.

     2.   Based on my  knowledge,  the  quarterly  report  does not  contain any
          untrue  statement of a material  fact or omit to state a material fact
          necessary to make the statements  made, in light of the  circumstances
          under which such  statements were made, not misleading with respect to
          the period covered by this quarterly report.

     3.   Based on my knowledge,  the financial statements,  and other financial
          information  included in this quarterly report,  fairly present in all
          material respects the financial  condition,  results of operations and
          cash flows of the registrant as of, and for, the periods  presented in
          this quarterly report.

     4.   The registrant's  other  certifying  officer and I are responsible for
          establishing  and maintaining  disclosure  controls and procedures (as
          defined in Exchange  Act Rules  13a-14 and 15d-14) for the  registrant
          and we have:

          (a)  designed such  disclosure  controls and procedures to ensure that
               material  information  relating to the registrant,  including its
               consolidated  subsidiaries,  is made known to us by others within
               those  entities,  particularly  during  the  period in which this
               quarterly report is being prepared;

          (b)  evaluated  the  effectiveness  of  the  registrant's   disclosure
               controls and  procedures as of a date within 90 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

          (c)  presented  in this  quarterly  report our  conclusions  about the
               effectiveness of the disclosure  controls and procedures based on
               our evaluation as of the Evaluation Date.

     5.   The registrant's other certifying officer and I have disclosed,  based
          on our most recent  evaluation,  to the registrant's  auditors and the
          audit  committee  of  registrant's  board  of  directors  (or  persons
          performing the equivalent function):

          (a)  all  significant  deficiencies  in the design or operation of the
               internal  controls which could adversely  affect the registrant's
               ability to record,  process,  summarize and report financial data
               and have  identified for the  registrant's  auditors any material
               weaknesses in internal controls; and

          (b)  any fraud,  whether or not material,  that involves management or
               other employees who have a significant  role in the  registrant's
               internal controls.

     6.   The registrant's other certifying officer and I have indicated in this
          quarterly  report  whether  or not there were  significant  changes in
          internal controls or in other factors that could significantly  affect
          the  internal  controls  subsequent  to the  date of our  most  recent
          evaluation,   including   any   corrective   actions  with  regard  to
          significant deficiencies and material weaknesses.


Date:    November 12, 2002                       By /s/ Robert P. Corcoran
                                                    -----------------------
                                                    President and Chief
                                                     Executive Officer
                                                    SVB Financial Services, Inc.

<PAGE>

                                  CERTIFICATION


I, Keith B. McCarthy, Chief Operating Officer certify, that:

     1.   I have  reviewed this  quarterly  report on Form 10-Q of SVB Financial
          Services, Inc.

     2.   Based on my  knowledge,  the  quarterly  report  does not  contain any
          untrue  statement of a material  fact or omit to state a material fact
          necessary to make the statements  made, in light of the  circumstances
          under which such  statements were made, not misleading with respect to
          the period covered by this quarterly report.

     3.   Based on my knowledge,  the financial statements,  and other financial
          information  included in this quarterly report,  fairly present in all
          material respects the financial  condition,  results of operations and
          cash flows of the registrant as of, and for, the periods  presented in
          this quarterly report.

     4.   The registrant's  other  certifying  officer and I are responsible for
          establishing  and maintaining  disclosure  controls and procedures (as
          defined in Exchange  Act Rules  13a-14 and 15d-14) for the  registrant
          and we have:

          (a)  designed such  disclosure  controls and procedures to ensure that
               material  information  relating to the registrant,  including its
               consolidated  subsidiaries,  is made known to us by others within
               those  entities,  particularly  during  the  period in which this
               quarterly report is being prepared;

          (b)  evaluated  the  effectiveness  of  the  registrant's   disclosure
               controls and  procedures as of a date within 90 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

          (c)  presented  in this  quarterly  report our  conclusions  about the
               effectiveness of the disclosure  controls and procedures based on
               our evaluation as of the Evaluation Date.

     5.   The registrant's other certifying officer and I have disclosed,  based
          on our most recent  evaluation,  to the registrant's  auditors and the
          audit  committee  of  registrant's  board  of  directors  (or  persons
          performing the equivalent function):

          (a)  all  significant  deficiencies  in the design or operation of the
               internal  controls which could adversely  affect the registrant's
               ability to record,  process,  summarize and report financial data
               and have  identified for the  registrant's  auditors any material
               weaknesses in internal controls; and

          (b)  any fraud,  whether or not material,  that involves management or
               other employees who have a significant  role in the  registrant's
               internal controls.

     6.   The registrant's other certifying officer and I have indicated in this
          quarterly  report  whether  or not there were  significant  changes in
          internal controls or in other factors that could significantly  affect
          the  internal  controls  subsequent  to the  date of our  most  recent
          evaluation,   including   any   corrective   actions  with  regard  to
          significant deficiencies and material weaknesses.


Date:  November 12, 2002                      By /s/ Keith B. McCarthy
                                                 ----------------------------
                                                 Chief Operating Officer
                                                 SVB Financial Services, Inc.