Company: CMTV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013041
Chunk: 134

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 134
---
 quarter of 2024 under the BTFP, a temporary loan facility established by the FRB in March 2023 to provide additional liquidity to financial institutions in the wake of several high-profile bank failures.  The Company’s BTFP borrowings are collateralized by U.S. Agency and U.S. Government Securities, valued at par.  The BTFP ceased extending new loans on March 11, 2024.  The BTFP loans matured and were repaid during the first quarter of 2025.

The Company’s advances under the BTFP as of the balance sheet dates were as follows:

  September 30,  December 31,   2025  2024        FRB BTFP term advance, 4.83%, due January 17, 2025 $0  $41,500,000 

The Company also has an unsecured Federal Funds credit line with the FHLBB with an available balance of $500,000 with no outstanding advances during either of the respective comparison periods.  Interest is chargeable at a rate determined daily, approximately 25 bps higher than the rate paid on federal funds sold.

The Company has a BIC arrangement with the FRBB secured by eligible commercial & industrial loans, CRE loans and home equity loans, resulting in an available credit line of $63.2 million and $60.8 million, respectively, as of September 30, 2025, and December 31, 2024.  Credit advances under this FRBB lending program are overnight advances with interest chargeable at the primary credit rate (generally referred to as the discount rate), currently 425 bps.  The Company had no outstanding advances through this facility as of September 30, 2025, or December 31, 2024.

As of September 30, 2025, and December 31, 2024, the Company had an unsecured line of credit of $12.5 million with a correspondent bank.  The Company had no outstanding advances against this credit line as of the balance sheet dates.

Management believes that the combination of high levels of potentially liquid assets, unencumbered securities, cash flows from operations, and additional borrowing capacity are sufficient to meet the Company’s liquidity and capital needs.

The primary objective of the Company’s capital planning process is to balance appropriately the retention of capital to support operations and future growth, with the goal of providing shareholders with an attractive