Community Bancorp Initiates a $0.05 Quarterly Cash Dividend.Business Editors ESCONDIDO, Calif.--(BUSINESS WIRE)--Feb. 26, 2004 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 $477 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 March 15, 2004, payable on or about March 31, 2004. "The declaration of a cash dividend reflects the confidence of the Board and management in the future direction of the Company," stated Gary W. Deems, Chairman. "In the past, we issued stock dividends to build stockholder value while allowing the Company to focus on increasing our capital position and earnings. Now that we have achieved progress in these areas, we feel it is appropriate to initiate a quarterly cash dividend." The Company announced record 2003 4th quarter and year-end earnings on January 29, 2004. GENERAL INFORMATION Community Bancorp Inc., is the $477 million holding company for Community National Bank, and is headquartered in Escondido, 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). . The bank's primary focus is community banking and commercial lending, with an additional 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 niche. 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 Fallbrook, Temecula, Escondido, Bonsall and Vista, and has an additional six 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, 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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