<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
------
Community Bancorp Inc.**
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
20342P109
----------------------------------
(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
/X/ Rule 13d-1(b)
/ / Rule 13d-1(c)
/ / Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
- -------------
** The Company is the successor registrant to Fallbrook National Bank which
previously filed reports pursuant to the Securities Exchange Act of 1934 with
the Comptroller of the Currency.
<PAGE>
ITEM 1.
(a) Name of Issuer
Community Bancorp Inc.
---------------------------------------------------------------------
(b) Address of Issuer's Principal Executive Offices
130 W. Fallbrook St.
Fallbrook, CA 92028
---------------------------------------------------------------------
ITEM 2.
(a) Name of Person Filing
Trust for the Fallbrook National Bank
Employee Stock Ownership Plan
---------------------------------------------------------------------
(b) Address of Principal Business Office or, if none, Residence
130 W. Fallbrook St.
Fallbrook, CA 92028
---------------------------------------------------------------------
(c) Citizenship
California
---------------------------------------------------------------------
(d) Title of Class of Securities
Common Stock
---------------------------------------------------------------------
(e) CUSIP Number
20342P109
---------------------------------------------------------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) / / Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) / / Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) / / Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) / / Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) / / An investment adviser in accordance with section
240.13d-1(b)(1)(ii)(E).
(f) /X/ An employee benefit plan or endowment fund in accordance with
section 240.13d-1(b)(1)(ii)(F).
(g) / / A parent holding company or control person in accordance with
section 240.13d-1(b)(1)(ii)(G).
(h) / / A savings association as defined in section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813).
(i) / / A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3).
(j) / / Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
<PAGE>
ITEM 4. OWNERSHIP
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
157,317
---------------------------------------------------------------------------
(b) Percent of class:
6.20%
---------------------------------------------------------------------------
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote
0
-----------------------------------------------------------------
(ii) Shared power to vote or to direct the vote
157,317
-----------------------------------------------------------------
(iii) Sole power to dispose or to direct the disposition of
0
-----------------------------------------------------------------
(iv) Shared power to dispose or to direct the disposition of
157,317
-----------------------------------------------------------------
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following. / /
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
The shares of common stock are held by the Trust for the ultimate benefit
of Fallbrook National Bank employees who participate in the Bank's Employee
Stock Ownership Plan. The Trust receives instruction on the voting and
acquisition/disposition of the shares from an administrative committee
composed of three officers/employees of the Bank. The undersigned serve as
trustee for the Trust.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable
<PAGE>
ITEM 10. CERTIFICATION
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 14, 2000
----------------------------------------
Date
Trust for the Fallbrook National Bank
Employee Stock Ownership Plan
BY: /s/ Granger Haugh
------------------------------------
Granger Haugh, trustee
BY: /s/ Thomas E. Swanson
------------------------------------
Thomas E. Swanson, trustee
