COMMUNITY BANCORP /VT

Listed Company

CMTVCIK 0000718413NasdaqNon-AcceleratedSmaller ReportingNational Commercial BanksVermontFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$16.97M

Total Assets

$1.29B

Equity

$113.69M

Shares Out

5.58M

Op. Cash Flow

$16.05M

Business

COMMUNITY BANCORP /VT operates as a bank holding company conducting substantially all operations through its subsidiary, Community National Bank, providing commercial banking services. It offers a broad range of loan and deposit products and related services, including business and commercial real estate lending, residential mortgages, consumer loans, municipal and institutional banking, retail banking services, and trust and wealth management through an affiliated non-depository trust company. The Company’s primary operating units include the Bank and its minority interest in a joint trust affiliate, plus separate statutory trust and tax credit entities. It serves customers principally in northern and central Vermont with branch offices, ATMs, online and mobile banking, and loan production offices in Chittenden County, VT and Grafton County, NH.

Summary from filing dated 2025-03-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	55	50	42	33	33
Interest on taxable debt securities	4	4	4	3	1
Interest on tax-exempt debt securities	321,646	321,645	361,268	203,358	273
Dividends	237,114	228,169	138,682	82,989	56,116
Interest on federal funds sold and overnight deposits	1	1	769,849	1	362,018
Total interest income	61	55	47	37	35
Interest on deposits	16	14	9	3	3
Interest on borrowed funds	2	4	2	86,054	71,375
Interest on repurchase agreements	1	797,002	747,091	166,746	88,861
Interest on junior subordinated debentures	959,692	1	1	573,603	393,105
Total interest expense	20	20	13	4	3
Net interest income	41	35	34	33	32
Credit loss expense	1	1	1	978,000	—
Net interest income after credit loss expense	40	33	33	32	31
Service fees	4	4	4	4	3
Income from sold loans	405,978	370,360	463,444	605,848	949,212
Other income from loans	1	1	1	1	982,295
Other income	2	2	2	982,831	1
Total non-interest income	8	7	7	7	7
Salaries and wages	10	9	9	8	8
Employee benefits	4	4	3	3	3
Occupancy expenses, net	3	3	3	3	3
Other expenses	10	10	9	8	8
Total non-interest expense	27	25	24	22	22
Income before income taxes	20	15	16	17	16
Income tax expense	3	2	3	3	3
Net income	17	13	13	14	13
Earnings per common share	3.01	2.28	—	—	—
Weighted average number of common shares used in computing earnings per share	6	6	—	—	—
Dividends declared per common share	0.98	0.94	0.92	0.92	0.88

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	12	10	15	12	18
Federal funds sold and overnight deposits	116	101	5	59	93
Total cash and cash equivalents	128	111	20	71	110
Securities available-for-sale (amortized cost $156,694,754 and $179,668,079 at 12/31/25 and 12/31/24, respectively)	145	160	191	193	—
Restricted equity securities, at cost	3	3	2	1	1
Loans held-for-sale	138,000	0	—	—	—
Loans	965	928	845	—	—
Allowance for credit losses	−11	−10	−10	—	—
Deferred net loan costs	786,604	648,695	573,169	—	—
Net loans	955	919	—	—	—
Premises and equipment, net	12	12	12	13	14
Accrued interest receivable	5	4	4	3	2
Bank owned life insurance	5	5	5	5	5
Goodwill	12	12	12	12	12
Other real estate owned	319,019	0	—	—	—
Other assets	23	23	17	17	10
Total assets	1,288	1,249	1,099	1,056	1,019
Demand, non-interest bearing	219	198	203	216	209
Interest-bearing transaction accounts	300	304	297	294	266
Money market funds	187	170	121	140	130
Savings	143	143	152	171	168
Time deposits, $250,000 and over	47	43	25	16	—
Other time deposits	176	145	99	86	89
Total deposits	1,071	1,002	897	923	879
Repurchase agreements	41	49	36	33	33
Borrowed funds	36	73	55	1	1
Junior subordinated debentures	13	13	13	13	13
Accrued interest and other liabilities	13	15	10	11	8
Total liabilities	1,174	1,151	1,010	981	934
Preferred stock, 1,000,000 shares authorized, 0 shares issued at 12/31/25, 15 shares issued and outstanding at 12/31/24 ($100,000 liquidation value, per share)	0	2	2	2	2
Common stock - $2.50 par value; 15,000,000 shares authorized, 5,882,266 and 5,809,035 shares issued at 12/31/25 and 12/31/24, respectively (including 15,924 and 21,187 shares issued 2/1/26 and 2/1/25, respectively)	15	15	14	14	14
Additional paid-in capital	40	39	38	36	35
Retained earnings	73	62	54	46	38
Accumulated other comprehensive loss	−10	−16	−16	−21	−1
Less: treasury stock, at cost; 299,339 shares at 12/31/25 and 210,101 shares at 12/31/24	−5	−3	—	—	—
Total shareholders' equity	114	98	89	75	85
Total liabilities and shareholders' equity	1,288	1,249	1,099	1,056	1,019
Book value per common share outstanding	20.36	17.24	15.87	13.55	15.48

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization, bank premises and equipment	1	1	1	1	1
Deferred income tax provision	48,470	351,928	−373,105	−118,587	−76,374
Gain on sale of loans	−145,617	−88,087	−153,491	237,881	−540,540
Loss on sale of bank premises and equipment	7,839	3,374	33,228	0	−7,559
Gain on sale of OREO	0	−30,061	0	—	0
Income from CFS Partners	−2	−1	—	—	—
Amortization of bond premium, net	30,599	208,521	256,999	609,535	531,081
Proceeds from sales of loans held for sale	7	5	8	13	18
Originations of loans held for sale	−7	−5	−8	−12	−18
Increase in taxes payable	29,638	17,177	−339,199	499,525	−258,585
Increase in interest receivable	−135,501	−225,676	−1	813,772	587,417
Decrease in mortgage servicing rights	77,661	82,525	—	—	—
(Increase) decrease in right-of-use assets	−256,859	65,489	—	—	—
Increase (decrease) in operating lease liabilities	286,900	−80,770	−215,031	−205,165	−196,825
Increase in other assets	−116,579	100,564	−377,001	15,389	67,126
Increase in cash surrender value of BOLI	−79,731	−85,651	−79,316	80,159	−84,992
Amortization of limited partnerships	851,482	748,525	596,429	268,714	—
Change in net deferred loan fees and costs	−137,909	−75,526	−79,894	531,247	−1
(Decrease) increase in interest payable	−2	1	1	15,143	−27,348
Decrease in accrued expenses	−161,511	−144,567	14,230	267,655	310,996
Increase in other liabilities	63,007	1,033	328,394	−39,291	3,525
Net cash provided by operating activities	16	16	15	16	14
Maturities, calls, pay downs and sales	38	31	17	19	19
Purchases	−15	0	—	—	—
Proceeds from redemption of restricted equity securities	3	4	4	43,500	141,500
Purchases of restricted equity securities	−3	−5	−4	−20,800	−129,400
Increase in limited partnership contributions payable	0	4	−3	3	−150,000
Investments in limited liability entities	0	−6	—	—	—
Increase in loans, net	−38	−84	−97	59	19
Capital expenditures net of proceeds from sales of bank premises and equipment	−780,773	−791,790	−633,462	−615,549	−895,739
Proceeds from sales of OREO	0	305,061	0	—	—
Recoveries of loans charged off	106,006	213,554	178,780	828,943	104,808
Net cash used in investing activities	−16	−57	−92	−95	−105
Net increase in demand and interest-bearing transaction accounts	17	2	−10	35	60
Net increase in money market and savings accounts	17	40	−38	13	44
Net increase in time deposits	35	63	22	−5	−7
Net (decrease) increase in repurchase agreements	−7	13	3	467,954	−6
Net decrease in short-term borrowings	42	12	—	—	—
Proceeds from long-term borrowings	10	30	0	—	0
Repayments on long-term borrowings	−5	0	−200,000	0	−1
Decrease in finance lease obligations	−234,081	−226,863	−219,857	−213,055	−198,653
Shares purchased through stock buyback program	−2	0	—	—	—
Redemption of preferred stock	−2	0	—	—	—
Dividends paid on preferred stock	−96,591	−125,625	−120,938	−66,563	−48,750
Dividends paid on common stock	−4	−4	−4	4	−3
Net cash provided by financing activities	17	131	26	40	86
Net increase in cash and cash equivalents	17	91	−51	−39	−5
Interest	22	19	12	4	3
Income taxes, net of refunds	3	1	3	2	3
Change in unrealized gain on securities AFS	8	195,918	—	—	—
Loans transferred to OREO	319,019	275,000	—	—	—
Additions to operating lease liabilities	524,455	138,058	—	—	—
Investment in limited partnerships, not yet paid	4	4	—	—	—
Dividends declared	5	5	5	5	5
Increase in dividends payable attributable to dividends declared	−48,892	−62,984	29,507	−43,686	−149,212
Dividends reinvested	−1	−1	−1	−1	−1
Total dividends paid	4	4	4	4	—

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