Community Bancorp Inc. (NASDAQ:CMBC), parent company of Community National Bank ("Community"), announced today that Ken Carteron has joined Community as Senior Vice President/Homeowners Association (HOA) Division Manager. Carteron, a 24-year banking veteran, will be responsible for developing HOA banking relationships and managing the deposit and lending activities of the HOA Division. During his extensive career, Carteron has managed the HOA divisions of 1st Centennial Bank, Scripps Bank and the Bank of Commerce. "Ken has a proven track record in developing and managing the highly specialized and desirable HOA market," stated Michael J. Perdue, President and CEO. "We're thrilled to have someone with Ken's knowledge and expertise to oversee the continued growth of our HOA business," Perdue added. Active in the HOA arena, Carteron currently serves as a Board Member of the Community Associations Institute and is an Affiliate Member of the California Association of Community Managers, two trade associations serving the homeowners association market. Carteron is also on the Board of Directors of The Association for Work Process Improvement (TAWPI), a national association for the improvement of payment processing systems. Community Bancorp is a bank holding company with $895 million in assets, including the assets of Rancho Bernardo Community Bank, as of June 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 (including the branch acquired through the Rancho Bernardo acquisition) 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. 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 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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