================================================================================

                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549

                                   ----------
                                   FORM 10-KSBA

                                   (Mark One)
            |X| ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                   For the fiscal year ended December 31, 2002

                                       or

          |_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

      For the transition period from _________________ to _________________

                        Commission File Number 000-26587


                         COMMUNITY BANCORP OF NEW JERSEY
             (Exact name of registrant as specified in its charter)

               New Jersey                                        22-3666589
     (State of other jurisdiction of                          (I.R.S. Employer
      incorporation or organization)                         Identification No.)

3535 Highway 9 North, Freehold, New Jersey                          07728
 (Address of principal executive offices)                         (Zip Code)

                                 (732) 863-9000
                (Issuer's telephone number, including area code)


--------------------------------------------------------------------------------
   (Former name, former address and former year, if changed since last report)

Securities registered under Section 12(b) of the Exchange Act:  None

Securities registered under Section 12(g) of the Exchange Act:  Common Stock,
                                                                no par value

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities and Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes |X| No |_|

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-B is not contained herein, and will not be contained, to the
best of Issuer's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB. |_| We have a late filer. |X|

Issuer's revenues for its most recent fiscal year $17,752,000. The aggregate
market value of voting and non-voting equity held by non-affiliates was
$45,205,195.

As of March 4, 2003, there were 3,173,224 shares of common stock, no par value
per share outstanding.

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<PAGE>


                       DOCUMENTS INCORPORATED BY REFERENCE

                    10-KSB Item                    Document Incorporated
                    -----------                    ---------------------

Item 9.   Directors and Executive Officers   Proxy Statement for 2003 Annual
          of the Company; Compliance with    Meeting of Shareholders to be
          Section 16(a) of the Exchange Act  filed no later than April 30, 2003.

Item 10.  Executive Compensation             Proxy Statement for 2003 Annual
                                             Meeting of Shareholders to be
                                             filed no later than April 30, 2003.

Item 11.  Security Ownership of Certain      Proxy Statement for 2003 Annual
          Beneficial Owners and Management   Meeting of Shareholders to be
                                             filed no later than April 30, 2003.

Item 12.  Certain Relationships and Related  Proxy Statement for 2003 Annual
          Transactions                       Meeting of Shareholders to be
                                             filed no later than April 30, 2003.



                                    PART II

                         ITEM 7. -- FINANCIAL STATEMENTS


               Report of Independent Certified Public Accountants

Board of Directors and Stockholders
Community Bancorp of New Jersey

      We have audited the consolidated balance sheets of Community Bancorp of
New Jersey as of December 31, 2002 and 2001, and the related consolidated
statements of income, changes in stockholders' equity, and cash flows for the
years then ended. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these
financial statements based on our audits.

      We conducted our audits in accordance with auditing standards generally
accepted in the United States of America. Those standards require that we plan
and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

      In our opinion, the financial statements referred to above present fairly,
in all material respects, the consolidated financial position of Community
Bancorp of New Jersey as of December 31, 2002 and 2001, and the consolidated
results of its consolidated operations and consolidated cash flows for the years
then ended, in conformity with accounting principles generally accepted in the
United States of America.



/s/ Grant Thornton, LLP
----------------------
Grant Thornton, LLP


Philadelphia, Pennsylvania
January 15, 2003

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                                   SIGNATURE

     Pursuant to the  requirements  of the  Securities and Exchange Act of 1934,
the  Registrant  has  caused  this  report to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



Date: April 8, 2003                     Community Bancorp of New Jersey
      -------------                     /s/ Robert D. O'Donnell
                                        ----------------------------------------
                                        Robert D. O'Donnell, President and CEO