PASADENA, Calif., Sep 08, 2008 (BUSINESS WIRE) — Community Bank, a commercial bank with assets of $2.3 billion, today reported the passing of its Chief Executive Officer Mr. Francis P. Shanahan, on September 7, 2008.

Chairman of the Board Alan Johnson said, “I’ve lost a true and valued friend. Fran’s uncompromising integrity, his great intellectual capacity, and his strategic vision and leadership skills will be sorely missed.”

Mr. Shanahan joined Community Bank in 1994 as a member of the Board of Directors and accepted the position of President and Chief Executive Officer in 2006.

A special meeting of the Board of Directors will be held on Tuesday, September 9th to discuss transitional matters respecting this tragic event.

Please direct any questions that may arise to David Malone, Chief Operating and Financial Officer at (626) 568-2001.

Community Bank is a regional business bank, founded in 1945, providing for the financial service requirements of a broad range of Southern California clients. The Bank, headquartered in Pasadena, provides Partnership Banking (R) services through a high quality staff of professionals with offices in Anaheim, Burbank, Commerce, Corona, Fontana, Glendale, Ontario, Pasadena, Redlands, Santa Clarita, Santa Fe Springs, South Bay and Yucaipa. For more information, visit the Community Bank Website at www.cbank.com.