Welcome to our dedicated page for Community Bancorp news (Ticker: $CMTV), a resource for investors and traders seeking the latest updates and insights on Community Bancorp stock.
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Community Bancorp recently held its Annual Shareholders' meeting, where shareholders re-elected five directors to three-year terms and ratified BerryDunn as the external auditor for 2024.
CEO Kathy Austin reported solid financial growth in 2023 and Q1 2024, highlighting a 7% year-over-year increase in total assets, reaching $1.11 billion by March 31, 2024.
The bank saw growth in its loan portfolio and deposit base, particularly time deposits, leading to a quarterly dividend raise in 2023. President Christopher Caldwell noted lending growth across all commercial loan segments despite higher interest rates.
The bank's strong market position allows for seizing opportunities emerging from industry consolidation. Executive VP and CFO Louise Bonvechio reviewed recent financial results, underscoring the bank's consistent performance and community banking principles.