Community Bancorp Announces Branch Consolidation.LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- Under Community Bancorp (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 : CBON), Community Bank of Nevada's President and Chief Executive Officer, Larry Scott
As a result of the consolidation, all accounts currently serviced at the Green Valley branch will be automatically transferred to the Stephanie branch. The consolidation will go into effect at 6:00 p.m. PT today. "We are confident that the impact on the customers of both branches will be minimal, as the Stephanie branch facility is easily accessible, can accommodate large customer volume and has adequate space for additional staffing if necessary," said Mr. Scott. About Community Bancorp Community Bancorp is a bank holding company headquartered in Las Vegas, Nevada. Through Community Bank of Nevada's current 13 full service banking offices in Nevada, two loan production offices located in Phoenix and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , and the recently acquired Community Bank of Arizona (formerly Cactus Commerce Bank), we provide commercial banking services, including real estate, construction and commercial loans and 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 loans, to small- and medium-sized businesses. For more information about Community Bancorp, visit our website at www.communitybanknv.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, actual customer response to the planned branch consolidation, the ability to find and retain qualified staffing at the Stephanie branch, loan production, balance sheet management, the economic condition of the Las Vegas market, net interest margin, loan quality, the ability to control costs and expenses, interest rate changes and financial policies of the United States government, and general economic conditions. Additional information on these and other factors that could affect financial results are included in our Securities and Exchange Commission filings. When used in this release, the words or phrases such as "will likely result in," "management expects that," "will continue," "is anticipated," "estimate," "projected," or similar expressions are intended to identify "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 (PSLRA PSLRA Private Securities Litigation Reform Act PSLRA Public Service Labour Relations Act (Canada) ). Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. Community Bancorp undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. This statement is included for the express purpose of protecting Community Bancorp under PSLRA's safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions. |
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