Community Bancorp. Reports Second Quarter 2026 Earnings
Rhea-AI Summary
Community Bancorp (NASDAQ:CMTV) reported second quarter 2026 net income of $4.7 million, or $0.84 per share, up 15.47% from $4.1 million, or $0.72 per share, a year earlier. For the first six months of 2026, earnings were $9.1 million, or $1.62 per share, up 19.40% from $7.6 million, or $1.34 per share, in 2025.
Key metrics for the six months ended June 30, 2026, included return on average assets of 1.47%, return on average equity of 15.63%, net interest margin of 3.88%, and an efficiency ratio of 54.2%. Total assets were $1.17 billion, down $114.8 million from year end 2025 but modestly higher year-over-year. Gross loans grew $28.8 million (3.06%) and deposits rose $48.7 million (5.22%) versus June 30, 2025.
Net interest income for the quarter increased 13.68% to $11.2 million, while non-interest income rose 12.34%. Equity capital reached $120.9 million, with book value per share of $21.58 and fully diluted tangible book value per share of $19.51. The company declared a quarterly dividend of $0.25 per share, payable August 1, 2026.
Positive
- Q2 2026 EPS $0.84, up 15.47% year-over-year
- Six-month 2026 EPS $1.62, up 19.40% year-over-year
- Net interest income Q2 2026 up 13.68% to $11.2 million
- Non-interest income Q2 2026 up 12.34% to $2.3 million
- Gross loans up $28.8 million (3.06%) year-over-year
- Deposits up $48.7 million (5.22%) versus June 30, 2025
- Net interest margin 3.88% six-month 2026 vs. 3.56% prior-year period
- Equity capital up to $120.9 million; book value/share $21.58
- Tangible book value/share $19.51 vs. $16.63 prior year
- Total capital ratio 16.05% and CET1 ratio 14.79%
Negative
- Total assets down $114.8 million from year end 2025
- Deposits down $89.0 million (8.31%) since year end 2025
- Securities portfolio down 11.45% to $128.0 million vs. December 31, 2025
- Credit loss expense Q2 2026 up to $721k from $407k
- Non-interest expense Q2 2026 up 7.47% to $7.2 million
- Efficiency ratio 54.2% six-month 2026 vs. 52.8% quarter, indicating higher relative costs
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 21 | Q1 earnings report | Positive | +0.8% | First-quarter earnings increased alongside loan growth and higher net interest income. |
| Jan 27 | Q4 earnings report | Positive | +0.0% | Quarterly and annual earnings increased, with higher loans, deposits, and net interest income. |
| Oct 21 | Q3 earnings report | Positive | +1.7% | Third-quarter earnings rose with loan, deposit, and net interest income growth. |
| Jul 22 | Q2 earnings report | Positive | +1.2% | Second-quarter earnings increased, supported by loan, deposit, and net interest income growth. |
| Apr 22 | Q1 earnings report | Positive | +0.1% | First-quarter earnings improved with loan, deposit, and net interest income growth. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Across five tag-matched earnings events, four had positive 24-hour reactions and one recorded 0%.
Key Terms
kpis financial
net interest margin financial
cecl financial
available-for-sale financial
non-gaap financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
DERBY, VT / ACCESS Newswire / July 24, 2026 / Community Bancorp. (NASDAQ:CMTV), the parent company of Community National Bank (the "Bank"), reported consolidated earnings for the second quarter ended June 30, 2026, of
Second Quarter 2026 Financial Highlights and Key Performance Indicators (KPIs):
(Unaudited)
Six months Ended | Quarter Ended | Six months Ended | Quarter Ended | |||||||||||||
June 30, 2026 | June 30, 2026 | June 30, 2025 | June 30, 2025 | |||||||||||||
Return on average assets | 1.47 | % | 1.53 | % | 1.29 | % | 1.38 | % | ||||||||
Pre-tax, pre-provision net revenue return on average assets | 1.96 | % | 2.11 | % | 1.67 | % | 1.81 | % | ||||||||
Return on average shareholders' equity | 15.63 | % | 15.83 | % | 15.05 | % | 15.62 | % | ||||||||
Net Interest Margin | 3.88 | % | 3.95 | % | 3.56 | % | 3.64 | % | ||||||||
Efficiency Ratio | 54.2 | % | 52.8 | % | 57.3 | % | 55.8 | % | ||||||||
Noninterest expense to average assets | 2.31 | % | 2.37 | % | 2.24 | % | 2.29 | % | ||||||||
Dividend payout | 30.86 | % | 29.76 | % | 35.82 | % | 33.33 | % | ||||||||
Fully diluted tangible book value per common share (1) | $ | 19.51 | $ | 19.51 | $ | 16.63 | $ | 16.63 | ||||||||
Total capital to risk-weighted assets (2) | 16.05 | % | 16.05 | % | 14.85 | % | 14.85 | % | ||||||||
Total common equity tier 1 capital to risk-weighted assets (2) | 14.79 | % | 14.79 | % | 13.60 | % | 13.60 | % | ||||||||
Tier I Capital to Average Assets (2) | 10.63 | % | 10.63 | % | 10.06 | % | 10.06 | % | ||||||||
Tangible common equity to tangible assets (1) | 9.41 | % | 9.41 | % | 8.21 | % | 8.21 | % | ||||||||
Earnings per common share | $ | 1.62 | $ | 0.84 | $ | 1.34 | $ | 0.72 | ||||||||
Weighted average number of common shares used in computing earnings per share | 5,590,465 | 5,594,749 | 5,608,997 | 5,612,675 | ||||||||||||
(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 June 30, 2026 FDIC Call Report. |
Total assets for the Company at June 30, 2026, were
The Company's securities portfolio totaled
Total net interest income for the second quarter ended June 30, 2026, increased
The provision for credit losses for the second quarter ended June 30, 2026, was
Total non-interest income for the second quarter ended June 30, 2026, of
Equity capital increased to
President and CEO Christopher Caldwell commented on the Company's results: "Through the first half of 2026, the company continued its strong performance. Community banking thrives through relationship-based banking and this long-term approach to clients and our communities continues to serve us well. Our inclusion in both the ABA Nasdaq Community Bank Index and the Russell 2000 Index has increased the Company's visibility among investors and may support broader market awareness of our stock over time. Tangible book value per share increased 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)
June 30, | December 31, | |||||||
2026 | 2025 | |||||||
Assets | ||||||||
Cash and due from banks | $ | 19,772,554 | $ | 11,802,391 | ||||
Federal funds sold and overnight deposits | 5,840,996 | 116,259,370 | ||||||
Total cash and cash equivalents | 25,613,550 | 128,061,761 | ||||||
Securities available-for-sale (amortized cost and | 127,982,828 | 144,528,758 | ||||||
Restricted equity securities, at cost | 1,918,950 | 2,933,050 | ||||||
Loans held-for-sale | 813,332 | 138,000 | ||||||
Loans | 970,535,252 | 965,285,662 | ||||||
Allowance for credit losses | (11,881,321 | ) | (10,864,983 | ) | ||||
Deferred net loan costs | 940,423 | 786,604 | ||||||
Net loans | 959,594,354 | 955,207,283 | ||||||
Bank premises and equipment, net | 12,220,494 | 12,090,886 | ||||||
Accrued interest receivable | 4,505,039 | 4,607,975 | ||||||
Bank owned life insurance | 5,435,603 | 5,398,085 | ||||||
Goodwill | 11,574,269 | 11,574,269 | ||||||
Other real estate owned | - | 319,019 | ||||||
Other assets | 23,090,295 | 22,699,860 | ||||||
Total assets | $ | 1,172,748,714 | $ | 1,287,558,946 | ||||
Liabilities and Shareholders' Equity | ||||||||
Liabilities | ||||||||
Deposits: | ||||||||
Demand, non-interest bearing | $ | 204,738,374 | $ | 218,842,543 | ||||
Interest-bearing transaction accounts | 278,551,211 | 299,636,739 | ||||||
Money market funds | 125,665,889 | 187,132,921 | ||||||
Savings | 146,071,626 | 142,543,291 | ||||||
Time deposits, | 48,195,437 | 46,913,997 | ||||||
Other time deposits | 178431659 | 175,598,510 | ||||||
Total deposits | 981,654,196 | 1,070,668,001 | ||||||
Repurchase agreements | 35,019,257 | 41,498,171 | ||||||
Borrowed funds | 10,975,022 | 35,975,022 | ||||||
Junior subordinated debentures | 12,887,000 | 12,887,000 | ||||||
Accrued interest and other liabilities | 11,319,225 | 12,843,774 | ||||||
Total liabilities | 1,051,854,700 | 1,173,871,968 | ||||||
Shareholders' Equity | ||||||||
Common stock - 5,902,267 shares issued at 06/30/26, 5,882,266 shares issued at 12/31/25 | 14,755,668 | 14,705,665 | ||||||
Additional paid-in capital | 40,757,013 | 40,076,561 | ||||||
Retained earnings | 79,287,690 | 73,021,908 | ||||||
Accumulated other comprehensive loss | (9,373,705 | ) | (9,611,137 | ) | ||||
Less: treasury stock, at cost; 300,409 shares at 06/30/26 and 299,399 shares at 12/31/25 | (4,532,652 | ) | (4,506,019 | ) | ||||
Total shareholders' equity | 120,894,014 | 113,686,978 | ||||||
Total liabilities and shareholders' equity | $ | 1,172,748,714 | $ | 1,287,558,946 | ||||
Book value per common share outstanding | $ | 21.58 | $ | 20.36 | ||||
Community Bancorp. and Subsidiary
Consolidated Statements of Income (unaudited)
Quarter Ended | Quarter Ended | |||||||
June 30, 2026 | June 30, 2025 | |||||||
Interest income | ||||||||
Interest and fees on loans | $ | 14,748,598 | $ | 13,691,705 | ||||
Interest on taxable debt securities | 741,821 | 948,048 | ||||||
Interest on tax-exempt debt securities | 80,411 | 80,411 | ||||||
Dividends | 47,363 | 58,595 | ||||||
Interest on federal funds sold and overnight deposits | 424,413 | 71,857 | ||||||
Total interest income | 16,042,606 | 14,850,616 | ||||||
Interest expense | ||||||||
Interest on deposits | 4,009,541 | 3,972,008 | ||||||
Interest on borrowed funds | 301,838 | 444,596 | ||||||
Interest on repurchase agreements | 262,376 | 298,057 | ||||||
Interest on junior subordinated debentures | 221,045 | 241,413 | ||||||
Total interest expense | 4,794,800 | 4,956,074 | ||||||
Net interest income | 11,247,806 | 9,894,542 | ||||||
Credit loss expense | 720,967 | 407,046 | ||||||
Net interest income after credit loss expense | 10,526,839 | 9,487,496 | ||||||
Non-interest income | ||||||||
Service fees | 988,219 | 969,775 | ||||||
Income from sold loans | 89,692 | 96,705 | ||||||
Other income from loans | 537,043 | 331,759 | ||||||
Income from investment in CFS Partners | 579,795 | 548,307 | ||||||
Other income | 117,998 | 112,165 | ||||||
Total non-interest income | 2,312,747 | 2,058,711 | ||||||
Non-interest expense | ||||||||
Salaries and wages | 2,632,767 | 2,392,661 | ||||||
Employee benefits | 1,102,841 | 1,056,273 | ||||||
Occupancy expenses, net | 779,462 | 794,451 | ||||||
Other expenses | 2,650,168 | 2,424,015 | ||||||
Total non-interest expense | 7,165,238 | 6,667,400 | ||||||
Income before income taxes | 5,674,348 | 4,878,807 | ||||||
Income tax expense | 986,564 | 819,031 | ||||||
Net income | $ | 4,687,784 | $ | 4,059,776 | ||||
Earnings per common share | $ | 0.84 | $ | 0.72 | ||||
Weighted average number of common shares used in computing earnings per share | 5,594,749 | 5,612,675 | ||||||
Dividends declared per common share | $ | 0.25 | $ | 0.24 | ||||
Six Months Ended | Six Months Ended | |||||||
June 30, 2026 | June 30, 2025 | |||||||
Interest income | ||||||||
Interest and fees on loans | $ | 29,181,219 | $ | 26,906,737 | ||||
Interest on taxable debt securities | 1,546,571 | 1,807,276 | ||||||
Interest on tax-exempt debt securities | 160,823 | 160,823 | ||||||
Dividends | 99,321 | 106,485 | ||||||
Interest on federal funds sold and overnight deposits | 1,081,511 | 393,806 | ||||||
Total interest income | 32,069,445 | 29,375,127 | ||||||
Interest expense | ||||||||
Interest on deposits | 8,186,172 | 8,157,915 | ||||||
Interest on borrowed funds | 687,788 | 815,574 | ||||||
Interest on repurchase agreements | 556,106 | 584,016 | ||||||
Interest on junior subordinated debentures | 443,692 | 484,758 | ||||||
Total interest expense | 9,873,758 | 10,042,263 | ||||||
Net interest income | 22,195,687 | 19,332,864 | ||||||
Credit loss expense | 1,112,473 | 732,100 | ||||||
Net interest income after credit loss expense | 21,083,214 | 18,600,764 | ||||||
Non-interest income | ||||||||
Service fees | 1,924,696 | 1,856,557 | ||||||
Income from sold loans | 159,237 | 166,082 | ||||||
Other income from loans | 887,238 | 601,927 | ||||||
Income from investment in CFS Partners | 822,234 | 797,658 | ||||||
Other income | 264,682 | 215,096 | ||||||
Total non-interest income | 4,058,087 | 3,637,320 | ||||||
Non-interest expense | ||||||||
Salaries and wages | 5,211,603 | 4,712,727 | ||||||
Employee benefits | 2,214,118 | 2,074,245 | ||||||
Occupancy expenses, net | 1,554,443 | 1,576,307 | ||||||
Other expenses | 5,242,433 | 4,807,731 | ||||||
Total non-interest expense | 14,222,597 | 13,171,010 | ||||||
Income before income taxes | 10,918,704 | 9,067,074 | ||||||
Income tax expense | 1,861,817 | 1,481,843 | ||||||
Net income | $ | 9,056,887 | $ | 7,585,231 | ||||
Earnings per common share | $ | 1.62 | $ | 1.34 | ||||
Weighted average number of common shares used in computing earnings per share | 5,590,465 | 5,608,997 | ||||||
Dividends declared per common share | $ | 0.50 | $ | 0.48 | ||||
Community Bancorp. and Subsidiary
Earnings Per Share ("EPS") (unaudited)
(Dollars in thousands, except share data)
For the Quarter Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Net income | $ | 4,688 | $ | 4,060 | $ | 9,057 | $ | 7,585 | ||||||||
Less: dividends to preferred shareholders | - | $ | 28 | - | $ | 56 | ||||||||||
Net income available to common shareholders | $ | 4,688 | $ | 4,032 | $ | 9,057 | $ | 7,529 | ||||||||
Weighted average number of common shares used in computing earnings per share | 5,594,749 | 5,612,675 | 5,590,465 | 5,608,997 | ||||||||||||
Earnings per common share | $ | 0.84 | $ | 0.72 | $ | 1.62 | $ | 1.34 | ||||||||
Reconciliation of GAAP to Non-GAAP Measures
(unaudited)
Community Bancorp. and Subsidiary
(Dollars in thousands, except share data)
Quarter Ended | ||||
June 30, 2026 | ||||
Computation of Pre-tax, pre-provision net revenue | ||||
Net interest income | $ | 11,247,806 | ||
Non-interest income | $ | 2,312,747 | ||
Less: Non-interest expense | $ | 7,165,238 | ||
Pre-tax, pre-provision net revenue | $ | 6,395,315 | ||
Computation of Pre-tax, pre-provision net revenue return on average assets | ||||
Pre-tax, pre-provision net revenue | $ | 6,395,315 | ||
Average Assets | $ | 1,228,309,434 | ||
Pre-tax, pre-provision net revenue return on average assets | 2.11 | % | ||
As of | ||||||||||||
June 30, 2026 | December 31, 2025 | June 30, 2025 | ||||||||||
Computation of Fully Diluted Tangible Book Value per Common Share | ||||||||||||
Total shareholders' equity | $ | 120,894 | $ | 113,687 | $ | 106,343 | ||||||
Less: | ||||||||||||
Preferred Stock | - | - | $ | 1,500 | ||||||||
Common shareholders' equity | $ | 120,894 | $ | 113,687 | $ | 104,843 | ||||||
Less: | ||||||||||||
Goodwill | $ | 11,574 | $ | 11,574 | $ | 11,574 | ||||||
Other Intangibles | - | - | - | |||||||||
Tangible common shareholders' equity | $ | 109,320 | $ | 102,113 | $ | 93,269 | ||||||
Common shares issued and outstanding | 5,601,858 | 5,582,927 | 5,608,914 | |||||||||
Fully Diluted Tangible Book Value per Common Share | $ | 19.51 | $ | 18.29 | $ | 16.63 | ||||||
As of | ||||||||||||
June 30, 2026 | December 31, 2025 | June 30, 2025 | ||||||||||
Computation of Tangible Common Equity to Tangible Assets | ||||||||||||
Common Equity | $ | 120,894 | $ | 113,687 | $ | 106,343 | ||||||
Less: | ||||||||||||
Goodwill | $ | 11,574 | $ | 11,574 | $ | 11,574 | ||||||
Other Intangibles | - | - | - | |||||||||
Tangible Common Equity | $ | 109,320 | $ | 102,113 | $ | 94,769 | ||||||
Total Assets | $ | 1,172,749 | $ | 1,287,559 | $ | 1,166,586 | ||||||
Less: | ||||||||||||
Goodwill | $ | 11,574 | $ | 11,574 | $ | 11,574 | ||||||
Other Intangibles | - | - | - | |||||||||
Tangible Assets | $ | 1,161,175 | $ | 1,275,985 | $ | 1,155,012 | ||||||
Tangible Common Equity to Tangible Assets | 9.41 | % | 8.00 | % | 8.21 | % | ||||||
For more information, contact:
Investor Relations
ir@communitynationalbank.com
SOURCE: Community Bancorp. Inc Vermont
View the original press release on ACCESS Newswire