In Brief: Security Placement for Nev.'s Community

Community Bancorp of Nevada said it has closed a $20 million private placement of trust-preferred securities.

Edward M. Jamison, the $651 million-asset company's president and chief executive officer, said in a press release Monday that it plans to use the money "to continue its organic growth and to fund market opportunities."

Community is definitely in a growth mode. For the first six months of the year, it reported a 39% increase in its loan portfolio, to $471 million, and last month it acquired the $153 million-asset Bank of Commerce in Las Vegas.