Exhibit 99.1
Press Release
Community Valley Bancorp Increases Quarterly Dividend
(Chico, Calif. March 15, 2006) - Community Valley Bancorp, the holding company for Butte Community Bank, announced a 25% increase in its quarterly dividend from $0.04 to $0.05 per share.
At their meeting on February 21, 2006, the Board of Directors agreed to pay a cash dividend of five cents ($0.05) per share to shareholders of record as of March 31, 2006. The payment date for the dividend will be April 28, 2006.
“We are pleased to be able to increase the return to our shareholders,” said Keith Robbins, President and CEO. “Our dividend policy enables us to deliver a growing income stream for shareholders, while also retaining sufficient capital to reinvest in our community bank network and consistently generate profitable growth.”
About Community Valley Bancorp
Community Valley Bancorp (OTC BB: CVLL) is the parent company of Butte Community Bank, a progressive Northern California bank that combines traditional deposit and lending services with innovative banking solutions, and CVB Insurance Agency, LLC, a full-service insurance agency offering all lines of coverage from auto and health to commercial and farm packages.
Founded in 1990, Butte Community Bank is California state-chartered with 13 branches in ten cities including Chico, Colusa, Corning, Magalia, Oroville, Paradise, Red Bluff, Redding, Yuba City and Marysville. It also operates loan production offices in Citrus Heights and Gridley. Community Valley Bancorp has headquarters in Chico, California.
Forward Looking Statement Disclosure
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Community Valley Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements describe the Company’s expectations regarding future events and developments and are subject to risks and uncertainties and include information about possible or assumed future results of operations. Many possible events or factors could affect the Company’s future financial results and performance. This could cause results of performance to differ materially from those expressed in the Company’s forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward looking statements. All forward-looking statements are representative only on the date hereof.
