Community Bancorp Inc. Promotes Richard M. Sanborn to Executive Vice President/Chief Administrative Officer.ESCONDIDO, Calif. -- Community Bancorp, Inc. (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 :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) ), parent company of Community National Bank ("Community"), announced today that Richard M. Sanborn has been promoted to Executive Vice President/Chief Administrative Officer. Mr. Sanborn joined the Bank in June 2004 as Senior Vice President/Administration Group. Prior to that, he was a member of the Bank and Holding Company Board of Directors for 1st Centennial Bank and was the former 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 Palomar Community Bank in Escondido which merged with 1st Centennial in March 2003. In his new position, Sanborn will be responsible for managing the bank's branch network, operations administration, information systems, marketing, facilities, and merger/acquisition integration. "Rick has demonstrated the solid leadership skills and in-depth knowledge of banking, at both the community bank and big bank level, that are essential for the CAO position," stated Michael J. Perdue Perdue may refer to:
Sanborn has long been active in community affairs and industry trade groups having served in leadership roles on the boards of the Boys and Girls boys and girls mercurialisannua. Club United and the Escondido Chamber of Commerce. He currently serves on the Board of the California Bankers Association where he holds an additional post of Regional Legislative Chairperson. An active member of the Honorary Deputy Sheriff's Association, Sanborn holds a Masters in Business Administration from California Pacific University California Pacific University is located in Escondido (San Diego), California. It was founded in 1976 to provide alternative educational programs for adults wishing to obtain bachelors, masters, and doctoral degrees in the areas of business administration and management. , 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. , CA and a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies in Accountancy from Bentley College Bentley College is located at 175 Forest Street in Waltham, Massachusetts, 10 miles west of Boston. Founded as a school of accounting and finance in Boston's Back Bay neighborhood, Bentley moved to Waltham in 1968 and today is ranked 31 on Business Week's top 100 undergrad , Waltham, MA. www.comnb.com GENERAL INFORMATION Community Bancorp Inc. is a bank holding company with a wholly owned banking subsidiary, Community National Bank, headquartered in Escondido, California. As of October 1, 2004, the Company's assets were $656 million, including Cuyamaca Bank, N.A., which was acquired effective October 1, 2004. Community National 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 San Diego County and southwest Riverside County with ten retail banking offices in Bonsall, El Cajon, Encinitas, Escondido, Fallbrook, La Mesa, Murrieta, Santee, Temecula and Vista, and has additional SBA loan production offices that originate loans in California, Arizona, Nevada and Oregon. 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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