Community Bancorp Completes Merger with Valley Bancorp

  
    
  
  
    
      Community Bancorp (NASDAQ: CBON), the holding company for 
      Community Bank of Nevada and Cactus Commerce Bank (Arizona), announced 
      that it has completed its acquisition of Valley Bancorp (NASDAQ: VLLY), 
      effective Friday, October 13, 2006. The stockholders of Valley Bancorp 
      approved the transaction at a special stockholder meeting held on 
      October 6, 2006. Community Bancorp stockholders approved the transaction 
      at a special stockholder meeting October 9, 2006, and all regulatory 
      approvals have been received.
    
    
      Community Bancorp President, Chief Executive Officer and Chairman, 
      Edward M. Jamison, commented, “We are very 
      pleased to welcome the employees, customers and stockholders of Valley 
      Bancorp into our company. This merger is consistent with our growth 
      plans as we continue to strengthen our leadership role in community 
      banking in the Southwest.”
    
    
      “It was apparent that the synergies of these 
      two institutions were similar,” stated Barry 
      L. Hulin, President and Chief Executive Officer of Valley Bancorp. “It 
      has been gratifying to see two quality companies merge.”
    
    
      Under the terms of the Agreement to Merge and Plan of Reorganization by 
      and between Community Bancorp and Valley Bancorp dated June 28, 2006, 
      Valley Bancorp merged with and into Community Bancorp, with Community 
      Bancorp being the surviving entity in the merger. Immediately 
      thereafter, Valley Bank was merged with and into Community Bank of 
      Nevada.
    
    
      The total value of the transaction was $137.4 million, including 
      cancellation of options for Valley Bancorp stock. Valley Bancorp 
      shareholders received $46.00 per share of common stock they owned, paid 
      in a consideration mix of 75% Community Bancorp common stock and 25% 
      cash. The exchange ratio was 1.4516 shares of Community common stock per 
      Valley Bancorp common share. Accordingly, Community is paying $32.5 
      million in cash and issuing 3,078,633 shares of Community Bancorp common 
      stock in exchange for all outstanding Valley Bancorp shares. Cash will 
      be paid in lieu of any fractional shares of Community common stock in an 
      amount based on a price of $31.69 per share of Community common stock.
    
    
      “Acquiring Valley with its 5 locations, along 
      with its highly experienced and knowledgeable employees, will add 
      additional strength to our Nevada banking franchise”, 
      stated Larry Scott, President and Chief Operating Officer of Community 
      Bank of Nevada. “The combined institution 
      will create opportunities for customers, stockholders and the employees.”
    
    
      About Community Bancorp
    
    
      Community Bancorp is a bank holding company headquartered in Las Vegas, 
      NV with $1.0 billion in assets as of June 30, 2006. Through its current 
      9 full service banking offices, two loan production offices located in 
      Phoenix and San Diego, and the recently acquired Cactus Commerce Bank 
      (Arizona), it provides commercial banking services, including real 
      estate, construction, commercial loans and SBA loans, to small- and 
      medium-sized businesses. For more information about Community Bancorp, 
      visit our website at www.communitybanknv.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, the 
      economic condition of the Las Vegas and Maricopa County markets, net 
      interest margin, the ability to control costs and expenses, interest 
      rate changes and financial policies of the United States government, and 
      general economic conditions. Additional information on these and 
      other factors that could affect financial results are included in our 
      Securities and Exchange Commission filings.
    
    
      When used in this release, the words or phrases such as "will likely 
      result in", "management expects that", "will continue", "is 
      anticipated", "estimate", "projected", or similar expressions, are 
      intended to identify "forward-looking statements" within the meaning of 
      the Private Securities Litigation Reform Act of 1995 ("PSLRA"). Readers 
      should not place undue reliance on the forward-looking statements, which 
      reflect management's view only as of the date hereof. The Company 
      undertakes no obligation to publicly revise these forward-looking 
      statements to reflect subsequent events or circumstances. This statement 
      is included for the express purpose of protecting Community Bancorp 
      within PSLRA's safe harbor provisions.
    
  
Community Bancorp (NASDAQ: CBON), the holding company for
Community Bank of Nevada and Cactus Commerce Bank (Arizona), announced
that it has completed its acquisition of Valley Bancorp (NASDAQ:
VLLY), effective Friday, October 13, 2006. The stockholders of Valley
Bancorp approved the transaction at a special stockholder meeting held
on October 6, 2006. Community Bancorp stockholders approved the
transaction at a special stockholder meeting October 9, 2006, and all
regulatory approvals have been received.

   Community Bancorp President, Chief Executive Officer and Chairman,
Edward M. Jamison, commented, "We are very pleased to welcome the
employees, customers and stockholders of Valley Bancorp into our
company. This merger is consistent with our growth plans as we
continue to strengthen our leadership role in community banking in the
Southwest."

   "It was apparent that the synergies of these two institutions were
similar," stated Barry L. Hulin, President and Chief Executive Officer
of Valley Bancorp. "It has been gratifying to see two quality
companies merge."

   Under the terms of the Agreement to Merge and Plan of
Reorganization by and between Community Bancorp and Valley Bancorp
dated June 28, 2006, Valley Bancorp merged with and into Community
Bancorp, with Community Bancorp being the surviving entity in the
merger. Immediately thereafter, Valley Bank was merged with and into
Community Bank of Nevada.

   The total value of the transaction was $137.4 million, including
cancellation of options for Valley Bancorp stock. Valley Bancorp
shareholders received $46.00 per share of common stock they owned,
paid in a consideration mix of 75% Community Bancorp common stock and
25% cash. The exchange ratio was 1.4516 shares of Community common
stock per Valley Bancorp common share. Accordingly, Community is
paying $32.5 million in cash and issuing 3,078,633 shares of Community
Bancorp common stock in exchange for all outstanding Valley Bancorp
shares. Cash will be paid in lieu of any fractional shares of
Community common stock in an amount based on a price of $31.69 per
share of Community common stock.

   "Acquiring Valley with its 5 locations, along with its highly
experienced and knowledgeable employees, will add additional strength
to our Nevada banking franchise", stated Larry Scott, President and
Chief Operating Officer of Community Bank of Nevada. "The combined
institution will create opportunities for customers, stockholders and
the employees."

   About Community Bancorp

   Community Bancorp is a bank holding company headquartered in Las
Vegas, NV with $1.0 billion in assets as of June 30, 2006. Through its
current 9 full service banking offices, two loan production offices
located in Phoenix and San Diego, and the recently acquired Cactus
Commerce Bank (Arizona), it provides commercial banking services,
including real estate, construction, commercial loans and SBA loans,
to small- and medium-sized businesses. For more information about
Community Bancorp, visit our website at www.communitybanknv.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, the
economic condition of the Las Vegas and Maricopa County markets, net
interest margin, the ability to control costs and expenses, interest
rate changes and financial policies of the United States government,
and general economic conditions. Additional information on these and
other factors that could affect financial results are included in our
Securities and Exchange Commission filings.

   When used in this release, the words or phrases such as "will
likely result in", "management expects that", "will continue", "is
anticipated", "estimate", "projected", or similar expressions, are
intended to identify "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 ("PSLRA").
Readers should not place undue reliance on the forward-looking
statements, which reflect management's view only as of the date
hereof. The Company undertakes no obligation to publicly revise these
forward-looking statements to reflect subsequent events or
circumstances. This statement is included for the express purpose of
protecting Community Bancorp within PSLRA's safe harbor provisions.