The Board of Directors for Community Bancorp of Santa Maria and its subsidiary Community Bank of Santa Maria have announced authorization of a share repurchase program and an annual cash dividend of 30 cents per share.

Under the repurchase program, the company may buy back up to 109,895 shares of its common stock, or about 5% of its outstanding shares as of the announcement date.

The cash dividend, which represents an increase of 20% over last year’s dividend, is payable on July 8, 2025, to shareholders of record on June 30, 2025.

“The share repurchase plan and the increased annual cash dividend underscores the confidence the Board of Directors and management have in the strategic direction of the company,” said Janet Silveria, company president/CEO.

“We believe that both of these decisions reinforce our commitment to delivering long-term shareholder value. It is made possible by our disciplined approach to capital allocation and consistent financial performance,” she said.

The repurchase program permits shares to be purchased 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 authorized repurchase program expires on Dec. 31, 2025, 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 stated.

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