Bank suspends dividend

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January 05, 2009 11:14:00 PM

Appeal-Democrat

CHICO — Community Valley Bancorp, the holding company for Butte Community Bank, has announced the temporary suspension of its quarterly dividend.

"Our Board of Directors remains committed to capital preservation during these times of challenging industry conditions. ... While this decision is difficult, we believe it is in the best interest of our shareholders over the long term," the firm said in a statement reported by thelucrativeinvestor.com.

Founded in 1990 and headquartered in Chico, Butte Community Bank has 15 branches, including in Chico, Colusa, Corning, Oroville, Red Bluff, Redding, Yuba City and Marysville. It also operates a loan production office in Gridley.

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