Community Bancorp. Reports First Quarter 2026 Earnings

Community Bancorp (NASDAQ:CMTV) reported first quarter 2026 net income of $4.4 million or $0.78 per share, up roughly 24% versus Q1 2025.

Rhea-AI Summary

Community Bancorp (NASDAQ:CMTV) reported first quarter 2026 net income of $4.4 million or $0.78 per share, up roughly 24% versus Q1 2025. Total assets were $1.24 billion, loans rose 4.64% year-over-year, and net interest income increased to $11.0 million.

Equity capital was $116.8 million with book value per share of $20.88; the company declared a quarterly cash dividend of $0.25 per share payable May 1, 2026.

Positive

• Net income increased to $4.4M, up 23.93% YoY
• EPS rose to $0.78, a ~26% increase year-over-year
• Net interest income grew 15.99% to $11.0M
• Gross loans grew 4.64% YoY
• Deposits increased 3.89% YoY

Negative

• Unrealized investment loss adjustment of $9.8M to equity
• Total assets decreased $52.3M versus year-end 2025
• Provision for credit losses increased to $391,505

Argus Apr 21 session

+0.79% close to close Open Argus

Details

News Market Reaction – CMTV

On Apr 21, the day this news came out, CMTV closed 0.79% above the previous close.

Data tracked by StockTitan Argus for the Apr 21 session.

Key Figures

Q1 2026 net income: $4.4 million Q1 2026 EPS: $0.78 per share Return on average assets: 1.42% +5 more

Q1 2026 net income

$4.4 million

Quarter ended March 31, 2026

Q1 2026 EPS

$0.78 per share

Quarter ended March 31, 2026

Return on average assets

1.42%

Quarter ended March 31, 2026

Return on avg equity

15.31%

Quarter ended March 31, 2026

Net interest margin

3.81%

Quarter ended March 31, 2026

Total assets

$1.24 billion

As of March 31, 2026

Loan growth

$43.6 million (4.64%)

Change vs March 31, 2025

Quarterly dividend

$0.25 per share

Payable May 1, 2026

Previous Earnings Reports

5 past events · Latest: Jan 27

Same Type 5 events

1. Jan 27

   Q4 & FY25 earnings

   24h Move

   +0.0%

   Reported higher Q4 and full-year 2025 earnings with balance sheet growth.

2. Oct 21

   Q3 2025 earnings

   24h Move

   +1.7%

   Strong Q3 2025 earnings growth and higher loans, deposits, and net interest income.

3. Jul 22

   Q2 2025 earnings

   24h Move

   +1.2%

   Q2 2025 earnings up sharply with double-digit loan, deposit, and NII growth.

4. Apr 22

   Q1 2025 earnings

   24h Move

   +0.1%

   Q1 2025 earnings increased with asset growth and improving securities portfolio losses.

5. Jan 22

   Q4 & FY24 earnings

   24h Move

   +0.6%

   Q4 2024 earnings grew year over year with record assets and loan growth.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

net interest margin, efficiency ratio, available-for-sale, fair market value, +4 more

8 terms

net interest margin financial

"Return on average shareholders' equity | | 15.31 | % Net Interest Margin | | 3.81 | %"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

efficiency ratio financial

"Net Interest Margin | | 3.81 | % Efficiency Ratio | | 57.4 | %"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

available-for-sale financial

"The portfolio is classified as available-for-sale and is required to be reported"

A classification for bonds, stocks or other investments that a company plans to keep but might sell before they reach full term. Think of it like items a shop keeps on a shelf for potential sale: their market value can go up or down while the company holds them, and those unrealized gains or losses are shown separately from operating profit until they are sold. Investors watch this because large swings can change a company’s reported net worth and signal how much flexibility it has to raise cash quickly.

fair market value financial

"is required to be reported at fair market value with the unrealized loss"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

tangible common equity financial

"Tangible common equity to tangible assets (1) | | 8.60 | %"

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

tier i capital financial

"Tier I Capital to Average Assets (2) | | 10.17 | %"

Tier I capital is a bank’s core financial cushion—mainly the equity from shareholders and retained profits—that regulators count as the strongest form of loss-absorbing money. It matters to investors because it signals a bank’s ability to withstand shocks without defaulting or cutting dividends, much like a car’s airbags and frame show how well it protects passengers in a crash; higher Tier I generally means lower risk and greater stability.

current expected credit losses financial

"Measurement of Credit Losses on Financial Instruments, commonly referenced as the Current Expected Credit Losses, or CECL."

An accounting rule that requires lenders and creditors to estimate and record expected loan losses up front, based on current information and reasonable forecasts, rather than waiting until losses actually occur. Think of it as a bank setting aside a rainy-day fund based on the weather report instead of only after storms hit; for investors this affects reported profits, reserves and capital levels and can change perceptions of a firm’s financial strength.

fdic call report regulatory

"subject to finalization of the Bank's March 31, 2026 FDIC Call Report."

A FDIC call report is the quarterly financial statement banks file with federal regulators that shows their assets, liabilities, income, loan quality, deposits and capital levels. For investors it’s like a bank’s report card and an X‑ray combined: it reveals financial strength, risk exposure and trends that help assess safety, profitability and potential future problems before market prices react.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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DERBY, VT / ACCESS Newswire / April 21, 2026 / Community Bancorp. (NASDAQ:CMTV), the parent company of Community National Bank (the "Bank"), reported consolidated earnings for the first quarter ended March 31, 2026, of $4.4 million or $0.78 per share, an increase of $843,645 or 23.93% compared to $3.5 million or $0.62 per share reported for the first quarter of 2025.

First Quarter 2026 Financial Highlights and Key Performance Indicators (KPIs):

(Unaudited)

		Quarter Ended
		March 31, 2026
Return on average assets			1.42	%
Pre-tax, pre-provision net revenue return on average assets			1.83	%
Return on average shareholders' equity			15.31	%
Net Interest Margin			3.81	%
Efficiency Ratio			57.4	%
Noninterest expense to average assets			2.29	%
Dividend payout			31.96	%
Fully diluted tangible book value per common share (1)		$	18.81
Total capital to risk-weighted assets (2)			15.63	%
Total common equity tier 1 capital to risk-weighted assets (2)			14.38	%
Tier I Capital to Average Assets (2)			10.17	%
Tangible common equity to tangible assets (1)			8.60	%
Earnings per common share		$	0.78
Weighted average number of common shares used in computing earnings per share			5,586,133

(1) Refer to the "Reconciliation of GAAP to Non-GAAP Measures" section of this document for additional detail.
(2) Represents Bank-only ratios. Current period capital ratios are preliminary subject to finalization of the Bank's March 31, 2026 FDIC Call Report.

Total assets for the Company at March 31, 2026, were $1.24 billion, a decrease of $52.3 million from year end 2025, but $47 million or 3.99% higher compared to $1.12 billion as of March 31, 2025. Contributing to the Company's year-over-year growth in assets was growth in the Company's gross loan portfolio of $43.6 million, or 4.64%, compared to the 2025 period. Deposit balances increased $38 million, or 3.89%, compared to the same period in 2025 The year-over-year loan growth was primarily funded by a combination of cash, maturities of securities, as well as an increase in core and brokered deposits.

The Company's securities portfolio totaled $138 million as of March 31, 2026, a 4.67% decrease compared to $145 million as of December 31, 2025. As stated above, the cashflow from maturing securities was used to fund loan growth during the year. The portfolio is classified as available-for-sale and is required to be reported at fair market value with the unrealized loss, net of a deferred tax adjustment, as an adjustment to total equity. Such unrealized losses reflect the interest rate environment, as current rates remain below the coupon rates on the securities, resulting in a fair market value lower than current book values. As of March 31, 2026, the adjustment to equity was $9.8 million, representing an improvement of $3.6 million from the adjustment to equity of $13.4 million as of March 31, 2025.

Total net interest income for the first quarter ended March 31, 2026, increased $1.5 million, or 15.99%, to $11 million, compared to $9.4 million for the same quarter in 2025. The year-over-year improvement reflects an increase of $1.2 million, or 9.21%, in interest and fees on loans due to strong loan growth and higher yields, as well as higher interest on federal funds sold and overnight deposits of $335,150.

The provision for credit losses for the first quarter ended March 31, 2026, was $391,505, compared to $325,054 for the same period in 2025. The provision for credit losses for March 31, 2026, was determined under Accounting Standard No. 2016-13, Measurement of Credit Losses on Financial Instruments, commonly referenced as the Current Expected Credit Losses, or CECL.

Total non interest income for the first quarter ended March 31, 2026 was $1.7 million, an increase of $166,731, or 11%, from $1.6 million for the same period in 2025.

Equity capital increased to $116.8 million, with a book value per share of $20.88, as of March 31, 2026, compared to equity capital of $113.7 million and a book value per share of $20.36 as of December 31, 2025. This change includes an increase of $164,132 in unrealized losses in the investment portfolio year to date and a decrease of $3.6 million year over year, due to changing bond rates, which increased the fair market value of the investment portfolio, as well as an increase of $2.9 million in the current year first quarter and an increase of $12.2 million year over year in retained earnings. The unrealized loss position is considered temporary and does not impact the Company's regulatory capital ratios. In the fourth quarter of 2025, the Company completed the optional redemption of all fifteen of the Company's outstanding shares of its Series A Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. The preferred stock value of $1,500,000 was included in the Company's equity capital as of March 31, 2025.

President and CEO Christopher Caldwell commented on the Company's results: "The first quarter of 2026 was a continuation of the strong performance of our bank. We continue to stress the value of relationship banking throughout our footprint. This quarter we were able to uplist to the Nasdaq Capital Markets exchange. This move has generated improved liquidity and price for our shareholders. Our performance continues to help us provide a strong return to our shareholders and our communities. We are pleased to see our tangible book value increase in the first quarter by 4% while our quarter earnings per share increased by 26% compared to March 31, 2025. We remain committed to running a bank that our communities find helpful and beneficial while supporting our investors' trust in our company".

As previously announced, the Company declared a quarterly cash dividend of $0.25 per share payable May 1, 2026, to shareholders of record as of April 26, 2026.

About Community Bancorp.

Community Bancorp. is the parent holding company for Community National Bank, headquartered in Derby, Vermont. Community National Bank is an independent bank that has been serving its communities since 1851, with retail banking offices located in Derby, Derby Line, Island Pond, Barton, Newport, Troy, St. Johnsbury, Montpelier, Barre, Lyndonville, Morrisville and Enosburg Falls as well as loan offices located in Burlington, Vermont and Lebanon, New Hampshire

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements about the Company's financial condition, capital status, dividend payment practices, business outlook and affairs. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Although these statements are based on management's current expectations and estimates, actual conditions, results, and events may differ materially from those contemplated by such forward-looking statements, as they could be influenced by numerous factors which are unpredictable and outside the Company's control. Factors that may cause actual results to differ materially from such statements include, among others, the following: (1) general national or regional economic conditions, national fiscal or monetary policies, or national or international tariff or trade conditions result in a deterioration of the credit quality of our loan portfolio or diminished demand for the Company's products and services; (2) changes in laws or government rules, or the way in which courts interpret those laws or rules, adversely affect the financial industry generally or the Company's business in particular, or may impose additional costs and regulatory requirements; (3) interest rates change in such a way as to reduce the Company's interest margins and its funding sources; and (4) competitive pressures increase among financial services providers in the Company's northern New England market area or in the financial services industry generally, including pressures from nonbank financial service providers, from increasing consolidation and integration of financial service providers and from changes in technology and delivery systems, and other factors that are listed from time to time in our financial filings with the SEC, including our Forms 10Q and 10K. The Company cautions you not to rely unduly on forward-looking statements because the assumptions, beliefs, expectations, and projections about future events may, and often do, differ materially from actual results or events. Any forward-looking statement speaks only as to the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made, except as otherwise required by law.

Use of Non-GAAP Financial Measures

In addition to evaluating the Company's results of operations in accordance with generally accepted accounting principles in the United States ("GAAP"), management supplements this evaluation with certain non-GAAP financial measures such as pre-tax, pre-provision income; fully diluted tangible book value per common share and tangible common equity to tangible assets. Management believe these non-GAAP financial measures help investors better understand the Company's operating performance and trends and allow for better performance comparisons to other financial institutions. In addition, these non-GAAP financial measures remove the impact of unusual items that may obscure trends in the Company's underlying performance. These disclosures should not be viewed as a substitute for GAAP operating results, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other financial institutions. Reconciliations to the comparable GAAP financial measures can be found at the end of this document.

Community Bancorp. And Subsidiary
Consolidated Balance Sheets (unaudited)

		March 31,				December 31,
		2026				2025
Assets
Cash and due from banks		$	9,512,920			$	11,802,391
Federal funds sold and overnight deposits			55,086,179				116,259,370
Total cash and cash equivalents			64,599,099				128,061,761
Securities available-for-sale (amortized cost $150,158,141 and $156,694,754 at 03/31/26 and 12/31/25, respectively			137,784,382				144,528,758
Restricted equity securities, at cost			2,902,450				2,933,050
Loans held-for-sale			300,000				138,000
Loans			983,876,487				965,285,662
Allowance for credit losses			(11,280,241	)			(10,864,983	)
Deferred net loan costs			852,511				786,604
Net loans			973,448,757				955,207,283
Bank premises and equipment, net			12,035,404				12,090,886
Accrued interest receivable			5,298,063				4,607,975
Bank owned life insurance			5,416,653				5,398,085
Goodwill			11,574,269				11,574,269
Other real estate owned			-				319,019
Other assets			21,925,695				22,699,860
Total assets		$	1,235,284,772			$	1,287,558,946
Liabilities and Shareholders' Equity
Liabilities
Deposits:
Demand, non-interest bearing		$	199,316,812			$	218,842,543
Interest-bearing transaction accounts			291,067,383				299,636,739
Money market funds			148,980,329				187,132,921
Savings			147,941,226				142,543,291
Time deposits, $250,000 and over			166,165,700				46,913,997
Other time deposits			64,295,307				175,598,510
Total deposits			1,017,766,757				1,070,668,001
Repurchase agreements			40,086,527				41,498,171
Borrowed funds			35,975,022				35,975,022
Junior subordinated debentures			12,887,000				12,887,000
Accrued interest and other liabilities			11,726,716				12,843,774
Total liabilities			1,118,442,022				1,173,871,968
Shareholders' Equity
Common stock - $2.50 par value; 15,000,000 shares authorized, 5,896,981 shares issued at 03/31/26, 5,882,266 shares issued at 12/31/25 and 5,830,269 shares issued at 03/31/25			14,742,453				14,705,665
Additional paid-in capital			40,410,499				40,076,561
Retained earnings			75,997,719				73,021,908
Accumulated other comprehensive loss			(9,775,269	)			(9,611,137	)
Less: treasury stock, at cost; 300,409 shares at 03/31/26 and 212,101 shares at 12/31/25 and 03/31/25			(4,532,652	)			(4,506,019	)
Total shareholders' equity			116,842,750				113,686,978
Total liabilities and shareholders' equity		$	1,235,284,772			$	1,287,558,946
Book value per common share outstanding		$	20.88			$	20.36

Community Bancorp. and Subsidiary
Consolidated Statements of Income (unaudited)

		Quarter Ended				Quarter Ended
		March 31, 2026				March 31, 2025
Interest income
Interest and fees on loans		$	14,432,621			$	13,215,032
Interest on taxable debt securities			804,751				859,231
Interest on tax-exempt debt securities			80,411				80,411
Dividends			51,958				47,890
Interest on federal funds sold and overnight deposits			657,098				321,948
Total interest income			16,026,839				14,524,512
Interest expense
Interest on deposits			4,176,632				4,185,907
Interest on borrowed funds			385,950				370,977
Interest on repurchase agreements			293,730				285,959
Interest on junior subordinated debentures			222,647				243,345
Total interest expense			5,078,959				5,086,188
Net interest income			10,947,880				9,438,324
Credit loss expense			391,505				325,054
Net interest income after credit loss expense			10,556,375				9,113,270
Non-interest income
Service fees			936,477				886,782
Income from sold loans			69,546				69,377
Other income from loans			350,194				270,167
Income from investment in CFS Partners			242,438				249,350
Other income			146,685				102,933
Total non-interest income			1,745,340				1,578,609
Non-interest expense
Salaries and wages			2,578,836				2,320,066
Employee benefits			1,111,276				1,017,974
Occupancy expenses, net			774,981				781,856
Other expenses			2,592,267				2,383,716
Total non-interest expense			7,057,360				6,503,612
Income before income taxes			5,244,355				4,188,267
Income tax expense			875,253				662,810
Net income		$	4,369,102			$	3,525,457
Earnings per common share		$	0.78			$	0.62
Weighted average number of common shares used in computing earnings per share			5,586,133				5,605,278
Dividends declared per common share		$	0.25			$	0.24

Community Bancorp. and Subsidiary
Earnings Per Share ("EPS") (unaudited)
(Dollars in thousands, except share data)

		For the Quarter Ended March 31,
		2026				2025
		(In thousands, except per share data)
Net income		$	4,369			$	3,525
Less: dividends to preferred shareholders			-			$	30
Net income available to common shareholders		$	4,369			$	3,495
Weighted average number of common shares used in computing earnings per share			5,586,133				5,605,278
Earnings per common share		$	0.78			$	0.62

Reconciliation of GAAP to Non-GAAP Measures
(unaudited)

Community Bancorp. and Subsidiary
(Dollars in thousands, except share data)

		Quarter Ended
		March 31, 2026
Computation of Pre-tax, pre-provision net revenue
Net interest income		$	10,948
Non-interest income		$	1,745
Less: Non-interest expense		$	7,057
Pre-tax, pre-provision net revenue		$	5,636
Computation of Pre-tax, pre-provision net revenue return on average assets
Pre-tax, pre-provision net revenue		$	5,636
Average Assets		$	1,249,845
Pre-tax, pre-provision net revenue return on average assets			1.83	%

		As of
		March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025
Computation of Fully Diluted Tangible Book Value per Common Share
Total shareholders' equity		$	116,843			$	113,687			$	111,880			$	106,343
Less:
Preferred Stock			-				-			$	1,500			$	1,500
Common shareholders' equity		$	116,843			$	113,687			$	110,380			$	104,843
Less:
Goodwill		$	11,574			$	11,574			$	11,574			$	11,574
Other Intangibles			-				-				-				-
Tangible common shareholders' equity		$	105,269			$	102,113			$	98,806			$	93,269
Common shares issued and outstanding			5,596,572				5,582,867				5,619,491				5,608,914
Fully Diluted Tangible Book Value per Common Share		$	18.81			$	18.29			$	17.58			$	16.63

		As of
		March 31, 2026				December 31, 2025				September 30, 2025				June 30, 2025
Computation of Tangible Common Equity to Tangible Assets
Common Equity		$	116,843			$	113,687			$	110,380			$	104,843
Less:
Goodwill		$	11,574			$	11,574			$	11,574			$	11,574
Other Intangibles			-				-				-				-
Tangible Common Equity		$	105,269			$	102,113			$	98,806			$	93,269
Total Assets		$	1,235,285			$	1,287,559			$	1,226,171			$	1,166,586
Less:
Goodwill		$	11,574			$	11,574			$	11,574			$	11,574
Other Intangibles			-				-				-				-
Tangible Assets		$	1,223,711			$	1,275,985			$	1,214,597			$	1,155,012
Tangible Common Equity to Tangible Assets			8.60	%			8.00	%			8.13	%			8.08	%

For more information, contact:
Investor Relations
ir@communitynationalbank.com

SOURCE: Community Bancorp. Inc Vermont

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Community Bancorp (CMTV) Q1 2026 earnings and EPS?

CMTV reported first quarter 2026 net income of $4.4 million and EPS of $0.78. According to Community Bancorp, net income rose 23.93% versus Q1 2025 and diluted shares used were 5,586,133 for the period.

How did Community Bancorp (CMTV) loan and deposit balances change in Q1 2026?

Loans grew 4.64% year-over-year and deposits rose 3.89% year-over-year. According to Community Bancorp, loan growth was funded by cash, maturing securities, and increased core and brokered deposits.

What drove Community Bancorp (CMTV) net interest income improvement in Q1 2026?

Net interest income increased to $11.0 million, up 15.99% year-over-year. According to Community Bancorp, growth came from higher loan interest and fees, strong loan growth, and increased interest on federal funds and overnight deposits.

What is the status of Community Bancorp (CMTV) investment unrealized losses as of March 31, 2026?

The available-for-sale portfolio produced an equity adjustment of $9.8 million in unrealized losses. According to Community Bancorp, this position improved by $3.6 million year-over-year and is considered temporary.

Did Community Bancorp (CMTV) change its dividend for Q2 2026?

The company declared a quarterly cash dividend of $0.25 per share, payable May 1, 2026 to holders of record April 26, 2026. According to Community Bancorp, this is the announced dividend for the period.

How did Community Bancorp (CMTV) capital and book value perform in Q1 2026?

Equity capital increased to $116.8 million with book value per share of $20.88. According to Community Bancorp, retained earnings rose and tangible book value per share improved to $18.81 on a fully diluted tangible basis.