Community Bancorp Inc. Announces Quarterly Cash Dividend
August 25 2005 - 7:05AM
Business Wire
The board of directors of Community Bancorp Inc. (the "Company")
(NASDAQ: CMBC), parent company of Community National Bank, declared
a quarterly cash dividend of $0.10 (ten cents) per share at its
meeting held on August 24, 2005. The third quarter dividend is
payable on September 30, 2005, to stockholders of record at the
close of business on September 15, 2005. On July 21, 2005, the
Company announced record earnings of $2.8 million for the quarter
ended June 30, 2005. On August 22, 2005, the Company announced the
completion of the acquisition of Rancho Bernardo Community Bank.
Shareholders of Rancho Bernardo who receive shares of Community
Bancorp Inc. stock in exchange for Rancho Bernardo shares will be
eligible for the cash dividend of September 30, 2005. ABOUT
COMMUNITY BANCORP INC. Community Bancorp is a bank holding company
with $895 million in assets, including the assets of Rancho
Bernardo Bank, as of June 30, 2005, with a wholly owned banking
subsidiary, Community National Bank, headquartered in Escondido,
California. The bank's primary focus is community banking,
providing commercial banking services including commercial, real
estate and SBA loans to small and medium sized businesses. The bank
(including the branch acquired through the Rancho Bernardo
acquisition) serves San Diego County and southwest Riverside County
with eleven community banking offices in Bonsall, El Cajon,
Encinitas, Escondido, Fallbrook, La Mesa, Murrieta, Rancho
Bernardo, Santee, Temecula and Vista, and has additional SBA loan
production offices that originate loans in California, Arizona,
Nevada and Oregon. Information regarding Community Bancorp Inc. and
Community National Bank is also available on the Internet at
www.comnb.com. FORWARD LOOKING STATEMENTS Statements concerning
future performance, developments or events, expectations for growth
and income forecasts, and any other guidance on future periods,
constitute forward-looking statements that are subject to a number
of risks and uncertainties. Actual results may differ materially
from stated expectations. Specific factors include, but are not
limited to, loan production, balance sheet management, expanded net
interest margin, the ability to control costs and expenses,
interest rate changes and financial policies of the United States
government (including the Small Business Administration), and
general economic conditions. Additional information on these and
other factors that could affect financial results are included in
its Securities and Exchange Commission filings. The Company
disclaims any obligation to update any such factors or to publicly
announce the results of any revisions to any forward-looking
statements contained herein to reflect future events or
developments.
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