Community National Bank Offers up to $5 Million in Federal Deposit Insurance Corporation --FDIC-- Coverage.ESCONDIDO, Calif. -- Community National Bank, a wholly-owned subsidiary of 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) ), announced today that they have partnered with the Certificate of Deposit Account Registry Service, or CDARS CDARS Certificate of Deposit Account Registry Service (Promontory Interfinancial Network, LLC.) CDARS Centre de Distribution Alimentaire de la Rive Sud CDARS Client Data Analysis and Retrieval System , to offer their customers FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insurance eligibility on deposits over $100,000. "We can now in effect offer one-stop shopping for our large deposit customers who desire full FDIC coverage," stated Michael Patterson Michael Patterson and his wife Candace Reckinger were driving forces behind the early days of MTV. Winners of an MTV award for the animation in a-ha's groundbreaking video for "Take on Me" and "Train of thought", they went on to animate and direct Paula Abdul's "Opposites Attract". , Senior Vice President. "With CDARS, our customers can enjoy the security of FDIC coverage on amounts above $100,000 along with the convenience of working with just one institution and one statement," he added. In 1980, Congress set FDIC coverage limits at $100,000 per account. Inflation over the past 24 years has eroded more than half the value of that coverage. How does CDARS work? Through a sophisticated computer network, Community National Bank places customer funds among other FDIC-insured banks, allowing customers to manage all their funds through one relationship at Community. Community Bancorp is a bank holding company with $502 million in assets as of March 31, 2004, with a wholly owned banking subsidiary, Community National Bank, headquartered in Escondido, California. 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 loans in California, Arizona, Nevada and Oregon. www.comnb.com 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 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, 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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