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Community Bancorp. reports developments as the bank holding company for Community National Bank, an independent community bank serving Vermont markets through branch offices and loan production offices in Burlington, Vermont, and Lebanon, New Hampshire. News commonly centers on consolidated earnings, net interest margin, loan and deposit growth, asset quality, securities portfolio marks, regulatory capital ratios and book value.
The company’s updates also cover cash dividends, shareholder meetings, board matters, common-stock listing developments and completed capital actions such as the redemption of its Series A Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. Community National Bank’s recurring business lines include commercial, commercial real estate, residential real estate, municipal, institutional, nonprofit, local-government and consumer banking services.
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Community Bancorp (OTCQX:CMTV) reported a strong financial performance for Q1 2023, with earnings of $3.3 million or $0.61 per share, up 38.79% from $2.4 million or $0.44 per share in Q1 2022. Total assets decreased slightly to $1.03 billion from $1.06 billion at year-end 2022, while the loan portfolio grew by 8.95% or $62.3 million. Net interest income rose 12.77% to $8.5 million, aided by increased loan interest due to rising rates. The provision for credit losses significantly dropped to $207,540, a decrease from $862,500 in the previous year, reflecting better credit quality. The company declared a quarterly cash dividend of $0.23 per share. Despite challenges from rising interest rates and a tough economy, the bank's strategic focus on organic growth remains evident.
Community Bancorp. (OTCQX:CMTV) has announced a dividend of $0.23 per share, payable on May 1, 2023, to shareholders on record as of April 15, 2023. This reflects the company's continued commitment to returning value to shareholders. Community National Bank, serving since 1851, operates in multiple locations across Vermont. The press release also includes forward-looking statements regarding the company’s financial condition and potential impacts on its operations, highlighting risks related to economic conditions, regulatory changes, interest rates, and competitive pressures in the market.
Community Bancorp (CMTV) reported a strong performance for Q4 2022, with earnings of $4.7 million or $0.86 per share, marking a 39.67% increase year-over-year. Full year earnings rose to $13.7 million or $2.53 per share, a 4.58% increase from 2021. Total assets increased 3.62% to $1.06 billion, primarily driven by an 8.50% rise in loans. Net interest income for Q4 grew 17.72% to $9.3 million. Despite the challenges of rising interest rates, the Bank's diversified portfolio and demand for services contributed to growth. A quarterly cash dividend of $0.23 per share is payable on February 1, 2023.
Community Bancorp. (OTCQX:CMTV) will present a live company introduction at VirtualInvestorConferences.com on March 11, 2021, at noon ET. The session, hosted by President and CEO Kathryn Austin and CFO Louise Bonvechio, offers an interactive platform for investors to ask questions in real-time. Recent financial highlights include Q4 2020 earnings of $3.2 million (up 34% YoY) and full-year earnings of $10.8 million (up 22% YoY), with total assets reaching $918.2 million, a 24% increase from 2019.