Central Valley Community Bank Expands to Fresno's Sunnyside Region.CLOVIS, Calif. -- Daniel J. Doyle, President and Chief Executive Officer of Central Valley Community Bank (Bank), the sole subsidiary of Central Valley Community Bancorp (Company) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CVCY), announced today plans to expand into Fresno's Sunnyside region. Construction for the eleventh office is underway and is scheduled to be completed in November 2006. The new office located at 570 S. Clovis Ave, Suite 101, is just north of the intersection of Kings Canyon Kings Canyon may refer to several places:
The 3,680 sq. ft. office will provide a full-time staff of local banking professionals, as well as numerous conveniences to make banking faster and easier, including a drive-up window, walk-up ATM and a night drop. "The Sunnyside region is currently booming with business, retail and home development, and we are excited to be part of this well-established, fast-growing area," said Daniel J. Doyle, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Central Valley Community Bancorp and Central Valley Community Bank. "The Sunnyside office marks Central Valley Community Bank's eleventh branch in the Valley, six of which are located in our Fresno/Clovis home region," continued Doyle. Central Valley Community Bancorp trades on the NASDAQ stock exchange under the symbol CVCY. Central Valley Community Bank, headquartered in Clovis, California Clovis is a city in Fresno County, California, North East of Fresno. As of 2006, the city had an estimated population of 89,924. History The City of Clovis began as a freight stop along the San Joaquin Valley Railroad. , was founded in 1979 and is the sole subsidiary of Central Valley Community Bancorp. Central Valley Community Bank currently operates ten full-service offices in Clovis, Fresno, Kerman, Madera, Oakhurst, Prather and Sacramento. Additionally, the Bank operates Real Estate Lending, SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government Lending and Agribusiness agribusiness Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts. Lending Departments. Investment services are also provided by Investment Centers of America. Members of Central Valley Community Bancorp's and the Bank's Board of Directors are: Daniel N. Cunningham (Chairman), Sidney B. Cox, Edwin S. Darden, Jr., Daniel J. Doyle, Steven D. McDonald, Louis McMurray, Wanda L. Rogers, William S. Smittcamp, and Joseph B. Weirick. More information about Central Valley Community Bancorp and Central Valley Community Bank can be found at www.cvcb.com. Forward-looking Statements- Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All statements contained herein that are not historical facts, such as statements regarding the Company's current business strategy and the Company's plans for future development and operations, are based upon current expectations. These statements are forward-looking in nature and involve a number of risks and uncertainties. Such risks and uncertainties include, but are not limited to (1) significant increases in competitive pressure in the banking industry; (2) the impact of changes in interest rates, a decline in economic conditions at the international, national or local level on the Company's results of operations, the Company's ability to continue its internal growth at historical rates, the Company's ability to maintain its net interest margin, and the quality of the Company's earning assets Earning Assets Any income-earning asset owned by a company. Notes: These assets are generally interest-bearing accounts, bonds, and securities available for sale. See also: Asset, Asset Valuation, Earnings, Net Interest Margin ; (3) changes in the regulatory environment; (4) fluctuations in the real estate market; (5) changes in business conditions and inflation; (6) changes in securities markets; and (7) the other risks set forth in the Company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005. Therefore, the information set forth in such forward-looking statements should be carefully considered when evaluating the business prospects of the Company. |
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