Company: CMTV
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001654954-25-005620
Chunk: 14

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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  $20,181,348  As of March 31, 2025 and December 31, 2024, the Company did not have the intent to sell, nor was it more likely than not that we would be required to sell, any of the debt securities AFS in an unrealized loss position as of such dates prior to recovery and determined that no individual debt securities in an unrealized loss position represented credit losses that would require an allowance for credit losses. The Company has determined that the unrealized losses as of the balance sheet dates were primarily attributed to increases in market interest rates since these securities were purchased under other market conditions. Accordingly, there was no ACL on AFS debt securities as of March 31, 2025, or December 31, 2024. Accrued interest receivable on AFS debt securities which totaled $480,617 and $509,429 on March 31, 2025, and December 31, 2024, respectively, was reported in accrued interest receivable on the consolidated balance sheets and is excluded from the estimate of credit losses.

 12Table of Contents

Note 5. Loans, Allowance for Credit Losses, Credit Quality and Off-Balance Sheet Credit Exposures The composition of net loans as of the balance sheet dates was as follows:   March 31, 2025  December 31, 2024              Commercial & industrial $121,440,240   12.92% $124,055,652   13.37%Purchased (1)  7,242,149   0.77%  7,808,877   0.84%Commercial real estate  476,717,274   50.70%  472,152,857   50.88%Municipal  70,443,310   7.49%  67,087,399   7.23%Residential real estate - 1st lien  225,310,894   23.96%  218,090,893   23.50%Residential real estate - Jr lien  36,046,547   3.83%  35,691,181   3.85%Consumer  3,073,787   0.33%  3,053,946   0.33%Total loans