Company: CMTV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013041
Chunk: 42

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 Level 2 inputs, such as the fair value of collateral based on independent third-party appraisals. Loans held-for-sale:  The fair value of loans held-for-sale is based upon an actual purchase and sale agreement between the Company and an independent market participant.  The sale is executed within a reasonable period following quarter-end at the stated fair value. MSRs:  MSRs represent the value associated with servicing residential mortgage loans. Servicing assets and servicing liabilities are reported using the amortization method and compared to fair value for impairment. In evaluating the carrying values of MSRs, the Company obtains third party valuations based on loan level data including note rate, and the type and term of the underlying loans.  The Company classifies MSRs as non-recurring Level 2.

 26Table of Contents

 Assets and Liabilities Recorded at Fair Value on a Recurring Basis Assets measured at fair value on a recurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy, are summarized below.  There were no Level 3 assets or liabilities measured on a recurring basis as of the balance sheet dates presented, nor were there any transfers of assets between Levels during either of the periods presented for 2025 or 2024.   September 30,  December 31, Assets: (market approach) 2025  2024        Level 1      U.S. Government securities $13,242,730  $26,755,143          Level 2        U.S. GSE debt securities $11,351,947  $10,963,515 Taxable Municipal securities  262,261   247,745 Tax-exempt Municipal securities  10,138,367   10,238,253 Agency MBS  112,957,109   102,256,237 ABS and OAS  1,673,696   1,957,765 CMO  2,137,549   6,805,535 Other investments  484,660   473,227 Level 2 Total $139,005,589  $132,942,277          Grand Total $152,248,319  $159,697,420  Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis The following table includes assets measured at