COMMUTY BANCORP VT - $CMTV STOCK NEWS

Community Bancorp. (CMTV) appoints Christopher L. Caldwell as President of Community National Bank, effective immediately, as part of the bank's leadership succession planning process in preparation for the planned retirement of Kathryn M. Austin, who will continue to serve as the Bank's Chief Executive Officer until her retirement at year-end 2024. Mr. Caldwell brings 30 years of community banking and leadership experience to his new position as Bank President, having joined the Bank in April 2021 as Senior Vice President and Senior Lender. The Company's officers remain unchanged, and Ms. Austin has been employed with the Bank for over 40 years, serving as chief executive of both the Bank and the Company since 2017.

Community Bancorp., ticker symbol CMTV, reported a decrease in earnings for the fourth quarter of 2023 compared to the same period in 2022, attributed to significantly higher interest rates affecting the Bank's operations. Full-year earnings for 2023 also declined slightly compared to the prior year. However, the total assets for the Company increased by 4.10% year over year, driven by an increase in loans offset by a decrease in cash. Total net interest income decreased for the fourth quarter but grew for the full year, reflecting an increase in interest and fees on loans offset by an increase in interest on deposits expense. The provision for credit losses increased year over year, primarily due to a previously disclosed write-down on a single non-performing loan. Total non-interest income and expenses also increased for both the fourth quarter and the full year compared to the same periods in 2022. Equity capital and book value per share increased as of December 31, 2023, reflecting the decrease of unrealized losses in the investment portfolio. The President and CEO commented on the Company's results, expressing optimism for maintaining momentum in 2024 despite the challenging economic environment with rising interest rates.

Community Bancorp. (CNB) announces the appointment of Christopher L. Caldwell to its Board of Directors, effective January 1, 2024. Caldwell brings over thirty years of experience in the banking and business consulting industries and will serve on the Corporate Governance and Risk Management committees.

Community Bancorp, the parent company of Community National Bank, reported earnings for Q3 2023 of $3.4 million or $0.61 per share, a decrease of 6.87% compared to the same period last year. Year-to-date earnings for 2023 were $9.9 million or $1.80 per share, an increase of 9.52% compared to the same period last year. Total assets for the company on September 30, 2023, were $1.08 billion, an increase from $1.06 billion at year-end 2022.

Community National Bank, a subsidiary of Community Bancorp., reported earnings for Q2 2023 of $3.2 million or $0.58 per share, a 5.80% increase compared to Q2 2022. Year-to-date earnings for 2023 are $6.5 million or $1.19 per share, a 20.43% increase compared to a year ago. Total assets as of June 30, 2023, were $1.03 billion, with a loan portfolio growth of $78.0 million or 11.10% compared to the previous year.