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

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 and results of operations of the Company and its subsidiary, Community National Bank (the Bank), contained herein have been made.  The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2024, contained in the Company's Annual Report on Form 10-K.  The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for any other interim period or for the full annual period ending December 31, 2025. The Company is considered a “smaller reporting company” and a “non-accelerated filer” under the disclosure rules of the SEC.  Accordingly, the Company has elected to provide smaller reporting company scaled disclosures where management deems it appropriate, and to provide its audited consolidated statements of income, comprehensive income, cash flows and changes in shareholders’ equity for a two year, rather than a three year, period is considered a “smaller reporting company” under the disclosure rules of the SEC, as amended in 2018.   In addition to the definitions provided elsewhere in this quarterly report, the definitions, acronyms and abbreviations identified below are used throughout this report, including in Part I. “Financial Information” and Part II. “Other Information” and are intended to aid the reader and provide a reference page when reviewing this report. ABS:Asset backed securityFASB:Financial Accounting Standards BoardACL:Allowance for Credit LossesFDIC:Federal Deposit Insurance CorporationAFS:Available-for-saleFDICIA:Federal Deposit Insurance CorporationAgency MBS:MBS issued by a US government agencyImprovement Act of 1991or GSEFHLBB:Federal Home Loan Bank of BostonALCO:Asset Liability CommitteeFHLMC: Federal Home Loan Mortgage CorporationAOCI:Accumulated other comprehensive incomeFOMC:Federal Open Market CommitteeASC:Accounting Standards CodificationFRB:Federal Reserve BoardASU:Accounting Standards UpdateFRBB:Federal Reserve Bank of BostonBancorp:Community Bancorp.GAAP:Generally Accepted Accounting PrinciplesBank:Community National Bankin the United StatesBHG:Bankers Healthcare GroupGSE:Government sponsored enterpriseBIC:Borrower-in-CustodyHTM:Held-to-maturityBoard:Board of DirectorsICS:Insured Cash Sweeps of the IntraFi NetworkBOLI:Bank owned life insuranceIRS:Internal Revenue Servicebp or