Community Bancorp Reports 94% Increase in Net Income to $1.5 Million for the Quarter and $4.0 Million for the First Nine Months.
Business Wire › October 16, 2003
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Community Bancorp Reports 94% Increase in Net Income to $1.5 Million for the Quarter and $4.0 Million for the First Nine Months.
Business Editors
ESCONDIDO, Calif.--(BUSINESS WIRE)--Oct. 16, 2003 Community Bancorp Inc. (the "Company") (Nasdaq: CMBC) today reported record net income of $1.5 million, or $0.35 per diluted share, for the third quarter of 2003, compared to $775,000, or $0.21 per diluted share, for the third quarter of 2002. For the nine months ended Sept. 30, 2003, net income increased to $4.0 million, or $1.01 per diluted share, compared to $2.1 million, or $0.58 per diluted share, for the same period last year. Profitability ratios have improved significantly for the Company. Return on average equity (ROE) increased to 19.93% for the third quarter 2003, compared to 16.10% for the third quarter last year. For the first nine months, ROE increased to...See the full content of this document
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