Community Bancorp (NASDAQ:CMBC)
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From May 2019 to May 2024
The board of directors of Community Bancorp Inc. (the
"Company") (NASDAQ:CMBC), parent company of Community National Bank,
announced today the retirement of Director Granger Haugh from the
board of Community Bancorp Inc. and the bank subsidiary Community
National Bank. The retirement was due to reaching the mandatory
retirement age for membership on the board.
"We want to thank Granger for all the hard work and contributions
made to the Company since becoming a member of the Board and wish him
well in retirement," stated Gary Deems, Chairman of the Board of the
Company. "His past service as a Director, including several years
serving as Chairman, contributed to our success and our position as
one of the premier banking companies in San Diego and Riverside
counties."
Mr. Haugh joined the Board of Directors of Community National Bank
(then Fallbrook National Bank) in 1987 and held the role of Chairman
from May 1997 through December 2001. Mr. Haugh's retirement was
effective January 4, 2006. The Company does not plan on replacing Mr.
Haugh by adding a new Director.
ABOUT COMMUNITY BANCORP INC.
Community Bancorp is a bank holding company with $882 million in
assets as of September 30, 2005, 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
loans to small and medium sized businesses. The bank serves San Diego
County and southwest Riverside County with eleven community banking
offices in Bonsall, El Cajon, Encinitas, Escondido, Fallbrook, La
Mesa, Murrieta, Rancho Bernardo, Santee, Temecula and Vista, and has
additional SBA loan production offices that originate loans in
California, Arizona, Nevada and Oregon. Information regarding
Community Bancorp Inc. and Community National Bank is also available
on the Internet at 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 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.