FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * SEILER DONALD H   2. Issuer Name and Ticker or Trading Symbol GREATER BAY BANCORP [GBBK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 2860 W. BAYSHORE ROAD 3. Date of Earliest Transaction (Month/Day/Year) 02/23/2005 (Street) PALO ALTO, CA 94303 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 02/23/2005   M   2,400 A $ 12.25 219,988 D   Common Stock 02/23/2005   M   800 A $ 14.25 220,788 D   Common Stock 02/23/2005   M   12,000 A $ 16.75 232,788 D   Common Stock 02/23/2005   M   2,000 A $ 17 234,788 D   Common Stock 02/23/2005   M   4,200 A $ 17.56 238,988 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Non-Qualified Stock Option (right to buy)

$ 12.25

02/23/2005

M

2,400

12/16/2002

12/16/2007

Common Stock

2,400

$ 0 (1)

0

D

Non-Qualified Stock Option (right to buy)

$ 14.25

02/23/2005

M

800

03/24/2003

03/24/2008

Common Stock

800

$ 0 (1)

0

D

Non-Qualified Stock Option (right to buy)

$ 16.75

02/23/2005

M

12,000

12/15/2003

12/15/2008

Common Stock

12,000

$ 0 (1)

0

D

Non-Qualified Stock Option (right to buy)

$ 17

02/23/2005

M

2,000

08/24/2004

08/24/2009

Common Stock

2,000

$ 0 (1)

0

D

Non-Qualified Stock Option (right to buy)

$ 17.56

02/23/2005

M

4,200

12/17/2004

12/17/2012

Common Stock

4,200

$ 0 (1)

6,300

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SEILER DONALD H 2860 W. BAYSHORE ROAD PALO ALTO, CA 94303	X

Signatures

/s/ Donald H. Seiler		02/24/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Option granted under the Issuer's 1996 Stock Option Plan

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