FRESNO, Calif., June 30, 2008 (PRIME NEWSWIRE) -- Daniel J. Doyle, President and CEO of Central Valley Community Bank, the sole subsidiary of Central Valley Community Bancorp (Nasdaq:CVCY), is pleased to announce that the Bank has achieved a 5-Star Superior rating, based upon its 2007 fourth quarter financials, by Bauer Financial Inc.'s Superior Bank & Thrift Report. Central Valley Community Bank has received a recommended rating for eight consecutive quarters.
The achievement of the 5-Star Superior rating, which is Bauer Financial's highest distinction, indicates that Central Valley Community Bank is safe, financially sound and is operating above its regulatory capital requirements. The rating is based upon Bauer Financial's recognition criteria, which include capital ratio, profitability/loss trend, loan quality, investment portfolio value, regulatory supervisory agreements, community investment rating, historical data and liquidity.
"The recognition as a 5-Star Superior Bank is another indication of the safety and soundness of our Bank, especially during these turbulent economic times," stated Daniel J. Doyle, President and CEO of Central Valley Community Bancorp and Central Valley Community Bank. "This designation represents the Bank's long-standing dedication to our customers and the community."
Bauer Financial's 5-Star Superior rating is widely coveted by financial institutions nationwide. Since 1983, Bauer Financial has awarded this distinct classification to financial institutions that have continually proven to be top performing banks. Bauer Financial operates as an independent, unbiased third party that rates FDIC insured banks and federally insured credit unions. For more information, visit www.bauerfinancial.com.
Central Valley Community Bancorp trades on the NASDAQ stock exchange under the symbol CVCY. Central Valley Community Bank, headquartered in Fresno, California, was founded in 1979 and is the sole subsidiary of Central Valley Community Bancorp. Central Valley Community Bank currently operates twelve offices in Clovis, Fresno, Kerman, Madera, Oakhurst, Prather, Sacramento, and a loan production office in Modesto. In May 2008, Central Valley Community Bank entered into a definitive merger agreement to acquire Service 1st Bank with three offices in Tracy, Stockton and Lodi, which is expected to be completed by the end of 2008. Additionally, the Bank operates Commercial Real Estate Lending, SBA Lending and Agribusiness Lending Departments. Insurance services are offered through Central Valley Community Insurance Services LLC and investment services are provided by Investment Centers of America. Members of Central Valley Community Bancorp's and the Bank's Board of Directors are: Daniel N. Cunningham (Chairman), Sidney B. Cox, Edwin S. Darden, Jr., Daniel J. Doyle, Steven D. McDonald, Louis McMurray, Wanda L. Rogers, William S. Smittcamp, and Joseph B. Weirick.
More information about Central Valley Community Bancorp and Central Valley Community Bank can be found at www.cvcb.com.