Community Bancorp of Santa Maria and its subsidiary Community Bank of Santa Maria have announced its Board of Directors has authorized a share repurchase program.

Under the repurchase program, the company may buy back up to 21,080 shares of its common stock, or about 1% of its outstanding shares as of Dec. 31, 2025.

“The share repurchase plan underscores the confidence the Board of Directors and management have in the strategic direction of the company,” said Janet Silveria, president/CEO. “We believe that this decision reinforces our commitment to delivering long-term shareholder value.

“It is made possible by our disciplined approach to capital allocation and consistent financial performance.”

The repurchase program permits shares to be bought in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rules 10b5-1 and, where and when possible, 10b-18 of the Securities and Exchange Commission, the company said.

The authorized repurchase program will commence after the expiration of a 90-day waiting period and expires on Dec. 31, 2026, and may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate, the company said.

These factors may also affect the timing and amount of share repurchases, the company said. The repurchase program does not obligate the company to purchase any particular number of shares, officials said.

For more, visit www.yourcbsm.com.