Company: CMTV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013041
Chunk: 12

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 bps:Basis point(s)JNE:Jobs for New EnglandBTFP:Bank Term Funding ProgramJr:JuniorCDARS:Certificate of Deposit Accounts Registry MBS:Mortgage-backed securityService of the IntraFi Network MSRs:Mortgage servicing rightsCDs:Certificates of depositNII:Net interest incomeCECL:Current Expected Credit LossOAS:Other amortizing securityCFSG:Community Financial Services Group, LLCOBS:Off-balance sheetCFS Partners:Community Financial Services Partners,OCI:Other comprehensive income (loss)LLCOREO:Other real estate ownedCME:CME Group Benchmark Administration Ltd.OTTI:Other-than-temporary impairmentCMO:Collateralized Mortgage ObligationsPMI:Private mortgage insuranceCompany:Community Bancorp. and SubsidiaryPPP:Paycheck Protection ProgramCRE:Commercial Real EstateRD:USDA Rural DevelopmentDCF:Discounted cash flowSBA:U.S. Small Business AdministrationDDA or DDAs:Demand Deposit Account(s)SEC:U.S. Securities and Exchange CommissionDTC:Depository Trust CompanySOFR:Secured Overnight Financing RateDRIP:Dividend Reinvestment PlanUSDA:U.S. Department of AgricultureExchange Act:Securities Exchange Act of 1934VA:U.S. Veterans Administration

 11Table of Contents

Note 2.  Recent Accounting Developments In December 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires disclosure in the notes to financial statements of specified information about certain costs and expenses.  Public business entities must disclose the amount of employee compensation, depreciation, and intangible asset amortization.  A qualitative description of the amounts remaining in relevant expense captions must be disclosed if not disaggregated quantitatively.  The ASU is effective for annual periods beginning after December 15, 2026.  Management is reviewing the ASU but does not expect that it will have a material effect on the Company’s consolidated financial statements.

Note 3.  Earnings per Common Share Earnings per common share amounts are computed based on the weighted average number of shares of common stock issued during the period (retroactively adjusted for stock splits and stock dividends, if any), including Dividend Reinvestment Plan shares issuable upon reinvestment of dividends declared, and