A year of growth
2006 ANNUAL REPORT
COMMUNITY BANCORP
Message from the Chairman
Dear Stockholder,
2006 was a very exciting year for the company. We had strong growth in both assets and net income, making this a record year. We reached a key milestone with the acquisition of a bank in the state of Arizona. This begins a new era for the company to operate in two states under two strong banking franchises, Community Bank of Nevada and our new subsidiary bank, Community Bank of Arizona. Now we are able to provide and expand our banking products and services in multiple states.
Community Bancorp expanded into Arizona with the acquisition of Cactus Commerce Bank in September 2006, which became Community Bank of Arizona in 2007. Our market presence in Nevada was strengthened with the acquisition of Valley Bancorp in October of 2006.
We continue to experience strong year-over-year growth, both organically and through acquisitions, while maintaining strong loan quality, increasing profitability and expanding our deposit base. For the past two years, we have been investing in the necessary infrastructure to support our growth and potential acquisitions, and we are now seeing the results.
Two of our key performance ratios in 2006, Return on Average Assets (ROAA) and Return on Average Equity (ROAE) were 1.40% and 11.56%, respectively. The company produced solid profitability with strong organic and acquisition growth in loans and deposits. Asset growth for 2006 was $678 million, or 76%, versus the prior year. Asset growth and current revenues have reached a level that provides a platform for enhanced performance in the coming year.
Community Bancorp continues to execute its long-term vision and market expansion strategy to maintain solid growth and performance in the coming years. We currently operate in two of the most dynamic, growth-oriented markets in the West: Las Vegas, Nevada and Phoenix, Arizona. Our experienced management team is focused on growing the bank and increasing the value of the company.
I express my steadfast appreciation to this dedicated team of management and employees for our continued success.
We are committed to our market, our employees, our customers and our stockholders. As our slogan says, BANK ON IT.
Sincerely,
Edward M. Jamison
Chairman of the Board, President & CEO
Community Bancorp Officers
Community Bank of Nevada Officers
From top left: Lawrence K. Scott, Executive Vice President, Chief Operating Officer; Barry L. Hulin, Executive Vice President, Corporate Relations; Thomas P. McGrath, Executive Vice President, Chief Risk Manager; Don F. Bigger, Executive Vice President, Chief Credit Administrator; Cathy Robinson, Executive Vice President; Edward M. Jamison, Chairman of the Board, President and Chief Executive Officer; Not Pictured: Patrick Hartman, Executive Vice President, Chief Financial Officer; Jeffrey R. Chase, Senior Vice President, Chief Accounting Officer
From top left: Bruce Ford, Executive Vice President, Chief Operating Officer; Don F. Bigger, Executive Vice President, Chief Credit Administrator; Joyce G. Smith, Executive Vice President, Chief Retail Banking Officer; Barry L. Hulin, Executive Vice President, Corporate Relations; Cathy Robinson, Executive Vice President, Chief Financial Officer; Thomas P. McGrath, Executive Vice President, Chief Risk Manager; Edward M. Jamison, Chairman of the Board; Lawrence K. Scott, President, Chief Executive Officer
From left: Jim Nelson, Executive Vice President, Chief Credit Officer; Edward M. Jamison, Chairman of the Board; Katherine M. Gimbel, Vice President, Chief Financial Officer; Gerald B. Ernst, President, Chief Executive Officer
Community Bank of Arizona Officers
Community Bancorp
2005
2006
Loan Portfolio
2005
2006
Deposit Mix
Financial Performance
Gains in Net Income
(Dollars in thousands)
EPS - Diluted
Strong Trends in Key Metrics
(Dollars in thousands)
Asset Growth
Loan Growth
Deposit Growth
Edward M. Jamison
Chairman of the Board, President & CEO
Community Bancorp
Executive Management
From left: Lawrence K. Scott, Executive Vice President, Chief Operating Officer; Cathy Robinson, Executive Vice President; Edward M. Jamison, Chairman, President and Chief Executive Officer; Not Pictured: Patrick Hartman, Executive Vice President, Chief Financial Officer
Board Of Directors
From top left: Jack M. Woodcock, Director; Dan H. Stewart, Director; Lawrence K. Scott, Director; Gary W. Stewart, Director; Russell C. Taylor, Director; Edward M. Jamison, Chairman of the Board, President and Chief Executive Officer; Jacob D. Bingham, Vice Chairman of the Board
Community Bank of Nevada Board of Directors
Edward M. Jamison Chairman of the Board
Jacob D. Bingham
Vice Chairman of the Board
Lawrence K. Scott Director, President and Chief Executive Officer
Dan H. Stewart Director
Gary W. Stewart Director
Russell C. Taylor Director
Jack M. Woodcock Director
Community Bank of Arizona Board of Directors
Edward M. Jamison Chairman of the Board
Gerald B. Ernst Director, President and Chief Executive Officer
LeRoy R. Aman Director
Leanne Appeldorn-March Director
Jacob D. Bingham Director
Dr. Hao Kenith Fang Director
Jim Nelson Director, Executive Vice President,
and Chief Credit Officer
COMMUNITY BANCORP
Not Pictured:
Philip Whitaker, Director
Nevada Branch Locations
City Centre I Corporate Headquarters
400 South 4th Street Las Vegas, NV 89101
Rainbow
1400 South Rainbow Boulevard Las Vegas, NV 89146
Maryland Parkway
2887 South Maryland Parkway Las Vegas, NV 89109
Summerlin
7676 West Lake Mead Boulevard Las Vegas, NV 89128
Russell
8945 West Russell Road Las Vegas, NV 89148
Sunset
4343 East Sunset Road Henderson, NV 89014
Decatur
5295 South Decatur Boulevard Las Vegas, NV 89118
Sahara
7580 West Sahara Avenue
Las Vegas, NV 89117
Stephanie
370 North Stephanie Street Henderson, NV 89014
Spanish Oaks
3500 West Sahara Avenue Las Vegas, NV 89102
Eastern Hills
10895 South Eastern Avenue
Suite 170
Henderson, NV 89052
Pahrump
3250 South Highway 160 Pahrump, NV 89048
Coming Soon: Centennial
5785 Centennial Center Boulevard Las Vegas, NV 89148
Arizona Branch Locations
Glendale
6666 West Peoria Avenue
Suite 101
Glendale, AZ 85302
Coming Soon:
Fountain Hills
12625 North Saguaro Boulevard
Suite 106
Fountain Hills, AZ 85268
Central
2700 North Central Avenue
Suite 110
Phoenix, AZ 85004
Loan Production Offices
Phoenix
2375 East Camelback Road Suite 500 Phoenix, AZ 85016
San Diego
750 B Street
Suite 2850
San Diego, CA 92101
Commercial
Lending
Offices
City Centre
400 South 4th Street
Suite 110
Las Vegas, NV 89101
Stephanie
370 North Stephanie Street Henderson, NV 89014
Commercial Real Estate Office
8945 West Russell Road
Suite 300
Las Vegas, NV 89148
SBA Office
1400 South Rainbow Boulevard Las Vegas, NV 89146
Certified Public Accountants
McGladrey & Pullen, LLP 300 South 4th Street Suite 600 Las Vegas, NV 89101
Securities Counsel
Reitner, Stuart & Moore
1319 Marsh Street
San Luis Obispo, CA 93401
Transfer Agent
American Stock Transfer Attn: Mailroom Manager 59 Maiden Lane, Plaza Level New York, NY 10038 (800) 937-5449
Investor Relations
Patrick Hartman Executive Vice President Chief Financial Officer
Edward M. Jamison
Chairman of the Board
President
Chief Executive Officer
400 South 4th Street Suite 215
Las Vegas, NV 89101 (702) 878-0700
Annual
Stockholders
Meeting
May 17, 2007
12:30 p.m.
City Centre
400 South 4th Street
Suite 110
Las Vegas, NV 89101
COMMUNITY BANCORP
City Centre / Corporate Headquarters
400 S. 4th St., Suite 215, Las Vegas, NV 89101
Tel: 702.878.0700 / Fax: 702.947.3500
Community banknv.com
SBA Prefered Lender
Member FDIC
NASDAQ: CBON