Community Bancorp. Reports First Quarter 2026 Earnings
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
News Market Reaction – CMTV
On the day this news was published, CMTV gained 0.79%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
CMTV gained 4.4%, while close regional bank peers like MSWV (0.01%) and EMYB (1.42%) showed much smaller moves, indicating a stock-specific reaction to its earnings rather than a broad sector shift.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 27 | Q4 & FY25 earnings | Positive | +0.0% | Reported higher Q4 and full-year 2025 earnings with balance sheet growth. |
| Oct 21 | Q3 2025 earnings | Positive | +1.7% | Strong Q3 2025 earnings growth and higher loans, deposits, and net interest income. |
| Jul 22 | Q2 2025 earnings | Positive | +1.2% | Q2 2025 earnings up sharply with double-digit loan, deposit, and NII growth. |
| Apr 22 | Q1 2025 earnings | Positive | +0.1% | Q1 2025 earnings increased with asset growth and improving securities portfolio losses. |
| Jan 22 | Q4 & FY24 earnings | Positive | +0.6% | Q4 2024 earnings grew year over year with record assets and loan growth. |
Earnings releases have historically produced small positive price reactions, with an average move of 0.72%, suggesting the market typically responds constructively but modestly to CMTV’s financial updates.
Over the past five earnings cycles from Jan 2025 through Jan 2026, Community Bancorp. has repeatedly reported higher earnings, growing loans, and rising book value per share. Quarterly net income has trended upward, with Q2 and Q3 2025, and Q4 2025 all showing solid year-over-year gains. Today’s Q1 2026 report, with higher net income, strong loan and deposit growth, and continued dividends, extends this pattern of consistent profitability and balance sheet expansion.
Historical Comparison
Over the last five earnings releases, CMTV’s average one-day move was 0.72%. Today’s 4.4% gain on Q1 2026 results is meaningfully larger than typical earnings-day reactions.
Earnings reports from Q4 2024 through Q4 2025 show steady net income growth, expanding loans and deposits, and rising book value per share, with the new Q1 2026 update extending this multi-quarter trend.
Market Pulse Summary
This announcement details Q1 2026 earnings of $4.4 million, or $0.78 per share, with solid profitability metrics including a 1.42% return on average assets and a 3.81% net interest margin. Loans and deposits both grew year over year, while equity and book value per share improved. Investors may watch future quarters for continued loan quality, margin stability, capital ratios, and the sustainability of dividends like the declared $0.25 per share.
Key Terms
net interest margin financial
efficiency ratio financial
available-for-sale financial
fair market value financial
tangible common equity financial
tier i capital financial
current expected credit losses financial
fdic call report regulatory
AI-generated analysis. Not financial advice.
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
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
The Company's securities portfolio totaled
Total net interest income for the first quarter ended March 31, 2026, increased
The provision for credit losses for the first quarter ended March 31, 2026, was
Total non interest income for the first quarter ended March 31, 2026 was
Equity capital increased to
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
As previously announced, the Company declared a quarterly cash dividend of
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 and | 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, | 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 - | 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