Community National Bank Announces a
Secondary Common Stock Offering To Raise
May 13, 2010 11:16 AM Eastern Daylight Time
GREAT NECK, N.Y.--(EON: Enhanced Online News)--Community National Bank (OTCBB:CBNY), the fastest
growing commercial community bank on Long Island, announced today a secondary common stock offering to raise
up to $19.5 million of additional capital. The new capital is intended to enable CNB to continue its growth strategy
and to take advantage of opportunities that may arise within the financial services industry.
Stuart Lubow, Chairman, President and CEO, commented “We are excited to give our existing shareholders and
new investors the opportunity to participate in our continued growth through this secondary common stock offering.
The additional capital will allow Community National Bank to continue its asset growth and branch expansion and
position us to take advantage of potential opportunities that may arise.” Mr. Lubow further commented that “CNB
has opened seven branch locations since its inception in April 2005. The Bank has total assets of $432 million as of
March 31 2010. In addition, loans and deposits were $298 million and $357 million, respectively.”
The shares will be offered for sale at $10 per share pursuant to a prospectus filed with the Comptroller of the
Currency (the “OCC”) as part of the Bank’s registration statement on Form S-1 filed with the OCC.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there
be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such state or jurisdiction. Offers are made only
pursuant to the prospectus. Investors should read the prospectus carefully before deciding whether to invest.
ABOUT COMMUNITY NATIONAL BANK
Community National Bank is a Long Island based independent commercial bank an