Community Bancorp of Santa Maria (OTCPK:CYSM) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, for a total of $4.5 million. The shares will be repurchased at a price of $15 per share. The purpose of the offer is to provide an opportunity return capital to those shareholders who elect to tender their shares and to increase non tendering shareholders’ proportionate interest in the company. If more than 300,000 shares are duly tendered before the expiration of the offer and not withdrawn then the company will first the company will repurchase shares from odd lot holders (shareholders who own fewer than 100 shares), secondly from other shareholders who have properly tendered and not properly withdrawn, on a pro rata basis, other than shareholders who tendered conditionally and whose conditions were not satisfied and then finally, only if necessary, from shareholders who have tendered shares at the purchase price, subject to the condition that the company purchases a specified minimum number of the holder's shares if the company purchases any of the holder's shares in the tender offer (for which the condition was not initially satisfied) by random lot, to the extent feasible. The offer will expire on December 6, 2019, unless otherwise extended.