Community Bancorp of New Jersey Announces 5% Dividend

Apr 11, 2001, 01:00 ET from Community Bancorp of New Jersey

    FREEHOLD, N.J., April 11 /PRNewswire/ --
 Community Bancorp of New Jersey (Nasdaq:   CBNJ), the holding company for the
 Community Bank of New Jersey announced today that its Board of Directors
 approved a 5% stock dividend payable May 15, 2001 to shareholders of record as
 of April 23, 2001.  This marks the Company's third consecutive annual stock
 dividend, as Community Bancorp paid a 5% stock dividend on May 1, 2000 and a
 3% stock dividend in July 1999.
     Messrs. Howard Schoor, Chairman of the Board of the Company, and Robert D.
 O'Donnell, President & Chief Executive Officer of the Company, stated:  "We
 wanted to reward our shareholders for their continued faith in the Company and
 our business plan and allow them to profit from our continued success.  We
 believe this stock dividend is one way to show our commitment to enhancing
 shareholder value."
     The Community Bank of New Jersey, the Company's bank subsidiary, operates
 through its main office at 3535 Highway 9 North, Freehold, New Jersey and its
 four branch offices located at 31 East Main Street, Freehold, New Jersey,
 4502 Highway 9 South, Howell, New Jersey, 267 Main Street, Matawan, New Jersey
 and 191 Route 9 South, Manalapan, New Jersey.  The Bank also anticipates
 opening two new locations during 2001 in Colts Neck, New Jersey and Old
 Bridge, New Jersey.  At December 31, 2000, Community Bancorp of New Jersey had
 total assets of $182.1 million, net loans of $120.4 million and total deposits
 of $160.5 million.  For the year ended December 31, 2000, the Company earned
 $1,152,000 or $0.57 for both basic and diluted shares, after retroactive
 adjustment for this year's 5% stock dividend.
 
 

SOURCE Community Bancorp of New Jersey
    FREEHOLD, N.J., April 11 /PRNewswire/ --
 Community Bancorp of New Jersey (Nasdaq:   CBNJ), the holding company for the
 Community Bank of New Jersey announced today that its Board of Directors
 approved a 5% stock dividend payable May 15, 2001 to shareholders of record as
 of April 23, 2001.  This marks the Company's third consecutive annual stock
 dividend, as Community Bancorp paid a 5% stock dividend on May 1, 2000 and a
 3% stock dividend in July 1999.
     Messrs. Howard Schoor, Chairman of the Board of the Company, and Robert D.
 O'Donnell, President & Chief Executive Officer of the Company, stated:  "We
 wanted to reward our shareholders for their continued faith in the Company and
 our business plan and allow them to profit from our continued success.  We
 believe this stock dividend is one way to show our commitment to enhancing
 shareholder value."
     The Community Bank of New Jersey, the Company's bank subsidiary, operates
 through its main office at 3535 Highway 9 North, Freehold, New Jersey and its
 four branch offices located at 31 East Main Street, Freehold, New Jersey,
 4502 Highway 9 South, Howell, New Jersey, 267 Main Street, Matawan, New Jersey
 and 191 Route 9 South, Manalapan, New Jersey.  The Bank also anticipates
 opening two new locations during 2001 in Colts Neck, New Jersey and Old
 Bridge, New Jersey.  At December 31, 2000, Community Bancorp of New Jersey had
 total assets of $182.1 million, net loans of $120.4 million and total deposits
 of $160.5 million.  For the year ended December 31, 2000, the Company earned
 $1,152,000 or $0.57 for both basic and diluted shares, after retroactive
 adjustment for this year's 5% stock dividend.
 
 SOURCE  Community Bancorp of New Jersey