Community Bancorp 8-K Other Events

Exhibit 99.2

2

Statements concerning future performance, developments or events, expectations

for growth and income forecasts, and any other guidance on future periods,

constitute forward-looking statements that are subject to a number of risks and

uncertainties.

Actual

results

may

differ

materially

from

stated expectations. 

Specific factors include, but are not limited to, loan production, balance sheet

management, the economic condition of the Las Vegas market, net interest margin,

loan quality, the ability to control costs and expenses, interest rate changes and

financial policies of the United States government, and general economic

conditions.  Additional information on these and other factors that could affect

financial results are included in our Securities and Exchange Commission filings.

When used in this Presentation, the words or phrases such as “will likely result in,”

“management expects that,”

“will continue,”

“is anticipated,”

“estimate,”

“projected,”

or similar expressions are intended to identify “forward-looking

statements”

within the meaning of the Private Securities Litigation Reform Act of

1995 (PSLRA).  Readers should not place undue reliance on the forward-looking

statements, which reflect management's view only as of the date hereof. 

Community Bancorp undertakes no obligation to publicly revise these forward-

looking statements to reflect subsequent events or circumstances.  This statement is

included

for

the

express

purpose

of

protecting

Community

Bancorp

and PSLRA's

safe harbor provisions.

Forward Looking Information

3

This Presentation may be deemed to be solicitation material in respect to the proposed transaction between

Community

Bancorp

and

Valley

Bancorp

pursuant

to

an

Agreement

to

Merge

and

Plan

of Reorganization,

dated as of June 28, 2006 by and among Community Bancorp and Valley Bancorp. While this Presentation

relates primarily to the second quarter 2006 financial results of Community Bancorp, because of the

pending acquisition of Valley Bancorp, the filing of this Presentation is being made in connection with

Rules

165, 425 and 14a-12 promulgated by the Securities and Exchange Commission (“SEC”).

In connection with the proposed acquisition of Valley Bancorp, Community Bancorp will file with the SEC

a

registration

statement

on

SEC

Form

S-4.

The

registration

statement

will

contain

a

joint proxy

statement/prospectus which will describe the proposed transaction and its proposed terms and conditions.

Shareholders of Community Bancorp and Valley Bancorp are encouraged to read the registration material

and proxy statement/prospectus before making any voting or investment decisions because these documents

will contain important information about the transaction. A definitive joint proxy statement will be sent to

the

shareholders

of

Community

Bancorp

and

Valley

Bancorp

seeking

required

shareholder

approvals of

Community Bancorp’s acquisition of Valley Bancorp. A copy of the Agreement was filed with the SEC as

an

exhibit

to

Community

Bancorp’s

8-K

filed

June

30,

2006,

a

separate

filing

from

the

Form

S-4. The

registration statement, the Form

8-K and all other documents filed with the SEC in connection with the

transaction

will

be

available

for

free

when

filed,

both

on

SEC’s

web-site

(www.sec.gov)

or

by contacting

Cathy Robinson, Executive Vice President and Chief Financial Officer, Community Bancorp, 400 South

4th Street, Las Vegas, Nevada 89101. Additionally, all forms filed with the SEC and additional shareholder

information

are

available

free

of

charge

on

Community

Bancorp’s

web-site: www.communitybanknv.com.

Community Bancorp posts these reports to its web-site as soon as reasonably practicable after filing them

with the SEC. None of the information on or hyper-linked from Community Bancorp’s web-site is

incorporated into this Presentation.

Securities Law Matters

4

Issuer:

Community Bancorp

NASDAQ Symbol

CBON

Shares Outstanding (6/30/06):             7,387,069

52 Week High/Low:                              $28.87 to $34.75 per Share

Market Capitalization Range:             $213 Million to $257 Million

Stock Summary

SBA Funded Property

5

•

Community Bancorp, with one billion dollars in assets, is the bank holding company for Community

Bank of Nevada, one of the largest community banks serving the greater Las Vegas market

•

Profitable every year since 1995

•

Provides a complete array of commercial banking products and services to small-to medium-sized

businesses

•

We have been a consistent, high performing institution

Assets (Five Year CAGR)

24%

Net Income (Five Year CAGR)

26%

Return on assets (Five Year Average)

1.21%

Return on equity (Five Year Average)

15.7%

2Q 06 ROA

1.52%

2Q 06 ROE

13.4%

•

Asset Quality -

0.21% non-performing assets to total loans

•

Human Capital -

experienced management team at

every level of key responsibilities

Company Overview

6

•

On June 28, 2006 Community Bancorp announced the signing of a

definitive agreement to acquire all of the common stock and

equivalents of the Las Vegas, NV based Valley Bancorp (Nasdaq:

VLLY) for approximately $137 million in stock and cash

•

Shareholders of Valley Bancorp will have the option to receive $46.00

per share in cash, shares of Community Bancorp common stock, or a

combination of cash and stock subject to the aggregate consideration

mix of 75% stock and 25% cash, subject to adjustment   

•

Expected

to

close

in

the

fourth

quarter

of

2006,

the

acquisition has

been approved by the Board of Directors of each company and is

expected to be accretive to Community Bancorp’s 2007 earnings per

share

•

Upon the consummation of the transaction, Valley Bancorp will be

merged into Community Bancorp and Valley Bank will be merged

into Community Bank of Nevada

Acquisition Profile

7

•

The combined institutions will have approximately $1.5 billion in

assets and 15 branches serving the growing communities of Clark and

Nye Counties

•

Founded in 1998, Valley Bank is the wholly owned commercial bank

subsidiary of Valley Bancorp

•

They have a network of five branches in the Southern Nevada

markets of Las Vegas, Henderson, Green Valley and Pahrump

•

As of June 30, 2006, Valley Bancorp reported assets of $441 million

•

Their focus is providing banking products and services to small to

medium sized businesses

Acquisition Profile

8

Acquisition Profile

•

On July 20, 2006 Community Bancorp announced the signing of a

definitive agreement to purchase all of the outstanding common stock of

Glendale, Arizona based Cactus Commerce Bank for approximately $13

million in cash 

•

Cactus Commerce Bank, founded in 2003, is a commercial bank with

assets of approximately $42 million serving the greater Phoenix

metropolitan area   

•

Upon consummation of the transaction, Cactus Commerce Bank will

become a wholly owned subsidiary of Community Bancorp

•

Expected to close in the late third quarter or early in the fourth quarter

of 2006

•

This is the first acquisition for Community Bancorp outside of Nevada,

and is consistent with the Company’s strategy to expand into other   

high growth markets in Arizona and California

9

* According to Clark County Comprehensive Planning, UNLV CBER

NV Branch Locations and Market Area

Valley Bancorp Locations

Current Locations

•

Ten full service offices located throughout

the greater Las Vegas Area (15 at close of

Valley Bancorp merger)

•

Between 2001 and 2005 Clark County’s

population grew by approximately 5% per

year compared to the national average of

1.2%*

•

In 2005 Clark County reached a

population of 1,815,700

•

According to FDIC, deposits in Clark

County grew from $15 billion to $34 billion

between June 2001 and June 2005, a

compound annual growth rate of 22%

10

AZ Branch Location and Market Area

Cactus Commerce Bank Locations

•

One full service office located in

Phoenix, AZ (1 planned in Fountain Hills

region for 4th

Quarter 2006)

•

The projections indicate that the top five

fastest-growing states between 2000 and

2030 would be Nevada (114%), Arizona

(109%)

•

In 2005 Phoenix, AZ reached a

population of 3,635,528

*According to US Census, FDIC

**Proposed Market Area

Approved Location

11

Source: SNL Securities at 6/30/05

COUNTY: Clark, NV

2005

2005

Total

Total

2005

Deposits

Market

2005

2005

Branch

in Market

Share

Rank

Institution

Type

Count

$0

(%)

1

Citigroup Inc. (NY)

Bank

13

6,663,054

23.36

2

Bank of America Corp. (NC)

Bank

50

5,986,101

20.98

3

Wells Fargo & Co. (CA)

Bank

68

4,797,414

16.82

4

Zions Bancorp. (UT)

Bank

48

1,926,091

6.75

5

Western Alliance Bancorp (NV)

Bank

5

1,251,452

4.39

6

U.S. Bancorp (MN)

Bank

35

1,240,783

4.35

7

Washington Mutual Inc. (WA)

Thrift

34

950,744

3.33

8

Marshall & Ilsley Corp. (WI)

Bank

1

841,842

2.95

9

Community Bancorp (NV)

Bank

9

651,696

2.28

10

First NB Holding Company (AZ)

Bank

6

518,029

1.82

11

Silver State Bancorp (NV)

Bank

9

493,839

1.73

12

Golden West Financial (CA)

Thrift

2

429,565

1.51

13

Capitol Bancorp Ltd. (MI)

Bank

4

286,358

1

14

Intermountain First Bancorp (NV)

Bank

1

285,288

1

15

Irwin Financial Corp. (IN)

Bank

1

254,828

0.89

16

Colonial BancGroup Inc. (AL)

Bank

7

208,915

0.73

17

Sun West Capital Corp. (NV)

Bank

3

202,303

0.71

18

Central Financial Corp. (KS)

Bank

3

187,123

0.66

19

Business Bank Corporation (NV)

Bank

4

185,572

0.65

20

BNP Paribas Group

Bank

7

184,996

0.65

21

Valley Bancorp (NV)

Bank

3

160,950

0.65

Deposit Market Share

12

•

Continue to enhance our risk management

•

Maintain high asset quality by continuing to utilize rigorous loan underwriting

standards and credit risk management practices

•

Continue to improve our efficiency ratio

•

Continue to actively manage interest rate and market risks

–

Closely monitor volume and maturity of our rate sensitive assets

to our interest

sensitive liabilities

•

Continue to develop low-cost funding sources

•

Continue to recruit, retain and train our officers and employees

•

Diversify our revenue source

–

Increase number of products being sold to each of our client

relationships

Operating Strategies

13

* Community Bancorp was founded in 2002

Management

Position

Edward M. Jamison

Lawrence K. Scott

Cathy Robinson

Charles McCluer

Chairman, President & Chief Executive Officer

EVP and Chief Operating Officer

EVP and Chief Financial Officer

SVP and Chief Information Officer

Years of

Experience

33+

23+

30+

18+

Years with

CBON

11+

4+

10+

1

Experienced Management –

Community Bancorp

14

* Community Bank of Nevada was founded in 1995

Management

Position

Edward M. Jamison

Lawrence K. Scott

Cathy Robinson

Don F. Bigger

Bruce Ford

Tom McGrath

Founder and Chief Executive Officer

President and Chief Operating Officer

EVP and Chief Financial Officer

EVP and Chief Credit Administrator

EVP and Chief Credit Officer

EVP and Chief Risk Manager

Years of

Experience

34+

23+

30+

21+

21+

30+

Years with

CBON

11+

4+

10+

3+

1+

1

Experienced Management –

Community Bank of Nevada

15

•

To capitalize on growth opportunities in Las Vegas, Phoenix and other rapidly

expanding markets

–

Acquire other community banks or organize de novo banks in markets that

offer regional continuity, such as the greater Las Vegas and Phoenix areas

or similar high-growth markets in California

–

Opening the 10    branch for Community Bank of Nevada in the northwest

Las Vegas area for the fall of 2006 and plans to open two additional

branches per year through 2008

–

Planning the opening of the 2    branch (upon successful merger closing) in

the greater Phoenix area for Cactus Commerce Bank in the fourth quarter

of 2006 with plans to open two additional branches per year through 2008

•

Utilize expanded branch presence and increase penetration of the

professional

and business services industries to increase core deposits

•

Leverage market conditions, branch network and human capital to maintain

above peer market levels of growth and profitability

•

Continue to enhance previous commitments to internal controls to

maintain sound risk management while experiencing high growth volume

Growth Strategies

th

nd

16

0

200

400

600

800

1000

1200

1400

1600

1800

2000

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Clark County Total Population (000)

1

0

4

0

1

2

4

6

1

3

2

1

1

4

2

8

1

4

9

8

1

5

7

8

1

6

4

1

1

7

4

7

1

8

1

5

1

1

8

8

1

1

1

9

Source: Clark County Comprehensive Plan-

2006 & 2007 are forecasts; FDIC

Our Market Place –

Las Vegas, NV

1

8

8

7

1

9

5

6

4.9%

4.6%

4.7%

3.1%

2.1%

Clark County NV

Q106

2005

2004

2003

2002

TOTAL EMPLOYMENT GROWTH (NEVADA)

17

Our Market Place –

Las Vegas, NV

$7.0 Billion Project

MGM CityCentre

$1.6 Billion Project

Las Vegas Sands Corp.

The Palazzo

$1.7 Billion Project

$4.0 Billion Project

Boyd Gaming

Echelon Resort

Encore at

Wynn Las Vegas

TOTAL CONSTRUCTION COSTS -

$19.3 BILLION

$5.0 Billion Project

Harrah’s Entertainment

18

0

500

1000

1500

2000

2500

3000

3500

4000

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Greater Phoenix Total Population (000)

2

6

3

5

2

9

1

3

3

0

2

7

3

1

9

2

3

2

5

9

3

3

9

7

3

5

2

4

3

6

4

9

3

7

6

4

2

8

0

6

2

7

2

1

Source: GPEC-

2006 & 2007 are forecasts; FDIC

Our Market Place –

Phoenix, AZ

3

8

7

9

4.7%

4.1%

3.6%

1.7%

1.4%

Maricopa County, AZ

Q106

2005

2004

2003

2002

TOTAL EMPLOYMENT GROWTH (ARIZONA)

19

Our Market Place-

Las Vegas, NV & Phoenix, AZ

24.47

1

Phoenix, AZ

2.40

6

4.47

5

47.90

3

Orlando, FL

2.44

4

4.70

4

19.92

15

Austin, TX

1.90

9

4.78

3

32.09

8

Las Vegas, NV

4.18

2

6.17

2

7.18

34

Naples, FL

5.73

1

6.24

1

05-’10 (000’s)

05-’10 Rank

MSA

00-’05 (%)

00-’05

Rank

05-’10 (%)

05-’10

Rank

Absolute Annual Growth

Annual Growth Rate

IRR-Viewpoint 2006 Integra Realty Resources, INC

Top 5 Markets

TOTAL EMPLOYMENT GROWTH

59.21

11

Orlando, FL

3.2

4

3.08

5

120.05

3

Phoenix, AZ

3.41

3

3.13

4

49.97

13

Austin, TX

3.13

5

3.42

3

80.46

8

Las Vegas, NV

4.82

1

4.65

2

16.45

31

Naples, FL

4.64

2

5.25

1

05-’10 (000’s)

05-’10 Rank

MSA

00-’05 (%)

00-’05

Rank

05-’10 (%)

05-’10

Rank

Absolute Annual Growth

Annual Growth Rate

IRR-Viewpoint 2006 Integra Realty Resources, INC

Top 5 Markets

POPULATION GROWTH

20

24.97

25.39

50,887

2

13.79

2

14.65

5,882,500

Arizona

18.49

19.33

53,239

1

20.82

1

22.53

2,448,536

Nevada

Projected

HH Income

Change

2005-2010

(%)

HH Income

Change

2000-2005

(%)

Medium

HH

Income

2005

($)

Rank

in

US

Projected

Population

Change

2005-2010

(%)

Rank

in

US

Population

Change

2000-2005

(%)

Total

Population

2005

(Actual)

State

*Growth percentage inset in state outline is projected 5-year growth

Source: SNL DataSource

Growth Characteristics

21

Migration by State

74.3

316,148

112.9

480,272

187.2

796,420

Arizona

2

151.5

233,934

150.3

232,189

301.8

466,123

Nevada

1

Rate

Number

Rate

Number

Rate

Number

Area

Rank

Net Migration

Out Migration

In Migration

Arizona Migration

Positive net migration with less than 30,000 gross migration

Negative net migration

Largest source of net migration

Other major sources of net migration (>30,000)

Other major source of gross in migration (<10,000)

Nevada Migration

Source: US Census Bureau

State of migration

23

$573,961

$463,431

$400,571

($000)

$892,708

CAGR = 23%

$1,009,513

2003

2002

2004

1H 06

Strong Asset Growth

2005

1H 06

As of 12/31/05

$960,192

$892,708

1Q 06

24

$806,873

CAGR = 25%

($000)

$663,407

$350,082

$293,535

$403,270

2005

2003

2002

2004

1H 06

Loan Growth

$762,175

$663,407

1H 06

As of 12/31/05

1Q 06

25

As of June 30, 2006

Construction

55%

Commercial Real Estate

26%

Consumer & Other

1%

Residential Real Estate

3%

Commercial

15%

Loan Portfolio

26

($000)

CAGR = 20%

$725,088

$403,713

$476,252

$351,584

2005

2003

2002

2004

1H 06

Deposit Growth

$793,433

$747,540

1H 06

As of 12/31/05

1Q 06

$725,008

27

Interest Bearing Demand

5%

Money Market

43%

Savings

1%

Time Certificates

20%

Wholesale Deposits

9%

Non-interest Bearing

Demand

22%

Deposit Mix

As of June 30, 2006

28

($000)

0.14%

0.21%

1.00%

0.78%

1.99%

2005

2003

2002

2004

1H 06

Credit Quality

NPAs to Total Loans & OREO

29

($000)

$10,065

$3,763

$5,215

$5,421

$3,425

2005

2003

2002

2004

1H 06

Gains in Net Income

$4,725

$7,188

30

11.4%

13.0%

17.8%

15.1%

19.1%

2005

2003

2002

2004

1H 06

Consistently Profitable ROE

31

Balance Sheet (in $000s)

1H 06

2005

2004

2003

2002

Assets

1,009,513

$

892,708

$

573,961

$

463,431

$

400,571

$

Gross Loans

806,873

663,407

403,270

350,082

293,535

Allowance for Loan Losses

9,730

8,117

6,133

5,409

4,688

Deposits

793,433

725,088

476,252

403,713

351,584

Equity

114,172

106,749

77,553

32,201

27,212

Ratios

Average Equity to Average Assets

11.73%

12.60%

6.86%

6.70%

6.94%

Leverage Ratio

13.16%

13.09%

16.91%

8.96%

8.84%

Tier 1 Risk-Based Capital Ratio

13.95%

14.20%

19.66%

11.18%

11.03%

Total Risk-Based Capital Ratio

15.02%

16.29%

20.92%

13.61%

14.14%

Allowance for Loan Losses to Total Loans

1.21%

1.22%

1.52%

1.55%

1.60%

Balance Sheet

32

Income Statement (in $000s, except per share data)

2Q 06

1Q 06

4Q 05

3Q 05

2Q 05

1Q 05

Interest and dividend income

19,263

$  

16,696

$  

15,394

$  

12,561

$  

9,676

$    

8,706

$ 

Interest expense

6,866

5,419

4,703

3,326

2,306

2,176

Net interest income

12,397

11,277

10,691

9,235

7,370

6,530

Provision for loan losses

625

982

269

725

91

-

Net interest income after

provision for loan losses

11,772

10,295

10,422

8,510

7,279

6,530

Non-interest income

530

528

803

677

419

376

Non-interest expense

6,599

5,675

7,027

5,421

4,641

3,423

Income before income taxes

5,703

5,148

4,198

3,766

3,057

3,483

Provision for income taxes

1,940

1,723

1,221

1,080

1,037

1,101

Net income

3,763

$    

3,425

$    

2,977

$    

2,686

$    

2,020

$    

2,382

$ 

EPS - basic

0.51

$      

0.46

$      

0.40

$      

0.38

$      

0.30

$      

0.35

$   

EPS - diluted

0.50

$      

0.46

$      

0.40

$      

0.38

$      

0.29

$      

0.35

$   

Income Statement

33

CAGR = 20%

$1.42

$.50

$1.10

$1.10

$0.46

2005

2003

2002

2004

1H 06

EPS -

Diluted

$1.01

$.96

34

(1)

Non-performing loans are defined as loans that are past due 90 days or more plus loans placed in non-accrual status and restructured loans.

(2)

Non-performing

assets

are

defined

as

loans

that

are

past

due

90

days

or

more,

non-accrual

loans

plus

other

real

estate owned.

1H 06

Non-performing loans to total loans 

(1)

0.21%

Non-performing assets to total loans 

(2)

0.21%

Non-performing assets to total assets

0.17%

Allowance for loan losses to total loans

1.21%

Allowance for loan losses to non-performing loans

577.5%

Allowance for loan losses to non-performing assets

577.5%

Net charge-offs to average loans

0.00%

OREO

NONE

Asset Quality

35

•

Loan growth of 71.3% year-over-year

•

Quarter net income up 86.3% year-over-year

•

Quarter diluted earnings per share up 72.4% year-over-year

•

Deposit growth of 57.4% year-over-year

($mlns)

2005

2004

2003

2006

2005

Assets

$892.7

$574.0

$463.4

$1,009.5

$651.1

Goodwill and Core Deposit Intangible

$24.8

$0.0

$0.0

$23.6

$0.0

Tangible Equity

$82.0

$77.6

$32.2

$90.6

$81.6

NPAs/Loans + OREO

0.14%

0.78%

1.00%

0.21%

0.13%

NCOs/Avg Loans

0.01%

0.05%

0.31%

0.00%

0.04%

Net Income

$10.1

$5.4

$5.2

$7.2

$4.4

EPS- diluted

$1.42

$1.10

$1.10

$0.96

$0.64

Net Interest Margin

5.12%

4.65%

4.72%

5.37%

4.79%

Efficiency Ratio

56.8%

64.7%

56.6%

49.6%

54.9%

ROA

1.43%

1.04%

1.19%

1.52%

1.44%

ROE

11.4%

15.1%

17.8%

13.0%

11.0%

At or for Year Ended December 31,

Six Months Ended June 30,

Summary

36

Category

1H 06

Deposits

793,433

$   

45,893

$    

6.1%

289,371

$   

57.4%

Loans

806,873

$   

44,698

$    

5.9%

335,766

$   

71.3%

From 1H 05

From 1Q 06

Actual Change

Change

($000)

Highlights

Category

2Q 06

Net Income

3,763

$      

338

$         

10.0%

1,743

$      

86.3%

Net Interest Margin

5.35%

-0.04%

-0.74%

0.26%

5.1%

Revenue

12,927

$    

1,122

$      

9.5%

5,138

$      

66.0%

From 2Q 05

From 1Q 06

Actual Change

Change

37

Financials

$41,642

$440,664

$1,009,513

Total Assets

$60,000

$3,640,000

$7,188,000

Net Income

Cactus Commerce Bank

Valley Bancorp

Community Bancorp

As of June 30, 2006

Unaudited

Total Assets and Earnings

Source: Community Bancorp-

Earnings Release 2Q 06; Valley Bancorp-

Earnings Release 2Q 06; Cactus Commerce Bank-

Current Balance Sheet

38

•

Excellent expansion opportunities in both Las Vegas and other

high growth markets

•

Consistent, high performance institution

–

Five year CAGR of assets and net income of 24% and 26%

respectively

–

Five year average ROE and ROA of 15.7% and 1.21%

respectively

•

Focus on business banking and total client relationships

•

Experienced management team with over 159 years

combined banking experience in the greater Las Vegas area

•

Diversification of markets with the addition of Arizona

Why invest with us?