Community Bancorp Announces a $0.05 Quarterly Cash Dividend.ESCONDIDO, Calif. -- Community Bancorp Inc. (the "Company") (Nasdaq:CMBC CMBC Coast Mountain Bus Company (Surrey, BC, Canada) CMBC Canadian Mennonite Bible College CMBC Camp Memorial Blood Center (US Army) CMBC Castle Morpeth Bridge Club (UK) ) a community bank holding company with $532 million in total assets, today announced that its Board of Directors has approved a $0.05 per share cash dividend on its Common Stock to stockholders of record on September 15, 2004, payable on or about September 30, 2004. "We are pleased with the excellent performance during the first half of 2004," stated Gary W. Deems, Chairman. "We are looking forward to the completion of our acquisition of Cuyamaca Bank, N.A. during the fourth quarter, and the continued success of the Company." On July 22, 2004 the Company announced a 55% increase in net income for the first six months of 2004 when compared to the same period in 2003. General Information Community Bancorp is a bank holding company with $532 million in assets as of June 30, 2004, with a wholly owned banking subsidiary, Community National Bank, headquartered in Escondido, Calif. The bank's primary focus is community banking, providing commercial banking services including commercial, real estate 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. The bank serves northern 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. County and southwest Riverside County with retail banking offices in Bonsall, Escondido, Fallbrook, Temecula and Vista, and has additional SBA loan production offices that originate o·rig·i·nate v. 1. To bring into being; create. 2. To come into being; start. loans in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). , Nevada and Oregon. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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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