Community Bancorp of Santa Maria

PRESS RELEASE

FOR IMMEDIATE RELEASE

For More Information Contact:

January 13, 2023

Janet Silveria, President/CEO

(805) 922-2900

jsilveria@yourcbsm.com

Community Bancorp of Santa Maria Releases

Fourth Quarter Earnings Report

Santa Maria, CA, January 13, 2023 - Janet Silveria, President and Chief Executive Officer of Community Bancorp of Santa Maria, parent company of Community Bank of Santa Maria, released the company's earnings report for the period ending December 31, 2022.

Year-to-Date unaudited Net Income increased 26.3% from $2.850 million at December 31, 2021 to $3.599 million at December 31, 2022. Basic Earnings Per Share increased from $1.32 in 2021 to $1.66 in 2022. The increase in unaudited net income is primarily attributed to increased interest income on interest earning assets and loan growth.

Net Loans, excluding Paycheck Protection Program (PPP) loans, increased 8.2%, from $201.9 million at December 31, 2021 to $218.4 million at December 31, 2022.

Total Deposits decreased 2.4%, from $378.2 million at December 31, 2021 to $369.2 million at December 31, 2022. The decline in Total Deposits is attributed to shifting customer behaviors related to personal and business investment.

Silveria commented, "we're proud of the return we provided our shareholders in 2022 and the support we continue to provide our community. Our balance sheet is steadfast with strong core deposits and excellent credit quality."

Community Bancorp of Santa Maria (OTCQX: CYSM) is the single bank holding company of Community Bank of Santa Maria, which opened for business on March 1, 2001 and has two full service branch locations in Santa Maria, California. For more information, visit their website at www.yourcbsm.com.

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Community Bank of Santa Maria published this content on 13 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2023 21:59:02 UTC.