Silver State Bancorp Announces an Offering of Transferable Stock Subscription Rights

HENDERSON, Nev.--(Business Wire)--
Silver State Bancorp (NASDAQ: SSBX) today announced that it has
filed with the SEC a registration statement to raise up to $40 million
of capital through the offering of transferable stock subscription
rights to existing shareholders. Specific terms for the rights
offering have not been determined at this time. In connection with the
rights offering, Silver State Bancorp expects to enter into commitment
agreements with standby purchasers who would commit to purchase an
amount of the Company's common stock not otherwise subscribed for by
the Company's existing shareholders. The rights offering is expected
to commence in the second quarter of 2008, subject to SEC review. The
lead dealer manager for the rights offering is Keefe, Bruyette &
Woods, Inc. and the co-dealer manager is Howe Barnes Hoefer & Arnett
Inc.

Corey L. Johnson, President and Chief Executive Officer, stated,
"After a comprehensive review of the strategic alternatives available
to us at this time, our Board of Directors has determined that the
best course of action is to raise capital through a registered rights
offering to our existing shareholders supported by standby investors."

Notice

A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement becomes
effective.

A written prospectus for the offering meeting the requirements of
section 10 of the Securities Act of 1933, as amended, may be obtained
by contacting Keefe, Bruyette & Woods, Inc., Prospectus Department, at
787 Seventh Avenue, Fourth Floor, New York, NY 10019.

About Silver State Bancorp

Silver State Bancorp, through its wholly owned subsidiary, Silver
State Bank, currently operates 13 full-service branches in southern
Nevada and four full-service branches in the Phoenix/Scottsdale market
area. Silver State Bank also operates loan production offices located
in Nevada, California, Washington, Oregon, Utah, Colorado and Florida.

Forward-Looking Statements

This press release contains forward-looking statements. Terms such
as "will," "should," "plan," "intend," "expect," "continue,"
"believe," "anticipate," "seek," and similar expressions are forward
looking in nature and reflect management's view only as the date
hereof. Actual results and events could differ materially from those
expressed or anticipated and are subject to a number of risks and
uncertainties including but not limited to fluctuations in interest
rates, asset quality, government regulations, economic conditions and
competition in the geographic and business areas in which Silver State
Bancorp conducts its operations. The Company undertakes no obligation
to review or update any forward-looking statements, whether as a
result of new information, future events, or otherwise.

Silver State Bancorp (Investors)
Corey L. Johnson or Michael J. Threet, 702-433-8300
or
Stern And Company (Media)
Steve Stern, 702-240-9533
steve@sdsternpr.com

Copyright Business Wire 2008