Item 8.01 Other Events

On January 15, 2020, the Board of Directors of Central Valley Community Bancorp approved the adoption of a program to effect repurchases of the Company's common stock. Under the program, the Company may repurchase up to $10 million of the Company's outstanding shares of common stock, which represents approximately 4% of the Company's outstanding shares of common stock, or approximately 487,805 shares based on the closing stock price of the Company's common stock on January 15, 2020 of $20.50. The share repurchase program will begin on January 16, 2020 and end on January 15, 2021. The shares will be repurchased in open market transactions through brokers, subject to availability.

The information in this Form 8-K filed on January 16, 2020 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.

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