Company: CMTV
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001654954-25-005620
Chunk: 112

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 112
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13, 2028 (1)  800,000   800,000 FHLBB option advance, 4.54%, due May 15, 2026  10,000,000   10,000,000 FHLBB option advance, 4.74%, due May 26, 2026  5,000,000   5,000,000 FHLBB option advance, 3.89%, due February 01, 2027  0   5,000,000 FHLBB option advance, 4.27%, due June 07, 2027  10,000,000   10,000,000 FHLBB option advance, 3.66%, due March 26, 2027  5,000,000   0 FHLBB option advance, 3.51%, due March 27, 2028  5,000,000   0 Total Long-Term Advances $36,100,000  $31,100,000 

(1)Under the JNE program, the FHLBB provides a subsidy, funded by the FHLBB’s earnings, to write down interest rates to zero percent on advances that finance qualifying loans to small businesses. JNE advances must support small business in New England that create and/or retain jobs or otherwise contribute to overall economic development activities.

The Company utilized borrowing capacity during 2023 and the first 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.

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

  March 31,  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