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| Vermont                                                                                                       | 03-0284070                                |
|---------------------------------------------------------------------------------------------------------------|-------------------------------------------|
| (State      of Incorporation)                                                                                 | (IRS      Employer Identification Number) |
| Address      of Principal Executive Offices:  4811 US Route 5, Derby,      Vermont  05829 |

| Title      of Each Class | Name      of each exchange on which registered |
|--------------------------|------------------------------------------------|
| NONE                     | NONE                                           |

| Large      accelerated filer (  ) |                                               | Accelerated      filer (  ) |
|---------------------------------------------|----------------------------------------------------|---------------------------------------|
| Non-accelerated      filer (  )   | (Do      not check if a smaller reporting company) | Smaller      reporting company (X)    |

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| FORM      10-K ANNUAL REPORT |
|------------------------------|
| Table of Contents            |
|                         |   |   |
| PART I                       |   | Page |
|                         |   |   |
| Item      1                  | The Business | 4 |
| Item      1A                 | Risk Factors | 10 |
| Item      1B                 | Unresolved      Staff Comments | 10 |
| Item      2                  | Properties | 11 |
| Item      3                  | Legal      Proceedings | 12 |
| Item      4                  | Submission of Matters to a Vote of      Security Holders | 12 |
|                         |   |   |
| PART II                      |   |   |
|                         |   |   |
| Item      5                  | Market for      Registrant's Common Equity, Related Stockholder Matters and      Issuer Purchases |   |
|                         |          of      Equity Securities | 13 |
| Item      6                  | Selected Financial      Data | 13 |
| Item      7                  | Management's      Discussion and Analysis of Financial Condition and Results of      Operation | 13 |
| Item      7A                 | Quantitative and      Qualitative Disclosures About Market Risk | 14 |
| Item      8                  | Financial Statements and Supplementary      Data | 14 |
| Item      9                  | Changes in and Disagreements      with Accountants on Accounting and Financial      Disclosures | 14 |
| Item      9A                 | Controls and      Procedures | 14 |
| Item      9A(T)              | Controls and      Procedures | 14 |
| Item      9B                 | Other      Information | 15 |
|                         |   |   |
| PART III                     |   |   |
|                         |   |   |
| Item      10                 | Directors, Executive      Officers and Corporate Governance | 15 |
| Item      11                 | Executive Compensation | 15 |
| Item      12                 | Security Ownership of Certain      Beneficial Owners and Management and      Related Stockholder |   |
|                         |    Matters | 15 |
| Item      13                 | Certain Relationships and      Related Transactions, and Director Independence | 15 |
| Item      14                 | Principal Accounting Fees and      Services | 16 |
| PART IV                      |   |   |
|                         |   |   |
| Item      15                 | Exhibits      and Financial      Statement Schedules | 16 |
|                         | Signatures | 18 |

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Item1.  The Business

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Table ofContents

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Table ofContents

Item1A.  Risk Factors

Item1B.  Unresolved Staff Comments

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Item3.  Legal Proceedings

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Item5.  Market for Registrant's Common Equity, Related Stockholder Mattersand Issuer Purchases of Equity Securities

|                                |   |                 |   |   |               |   |   |                     |   |   | Maximum               |   |
|-------------------------------------|--------|----------------------|--------|--------|--------------------|--------|--------|--------------------------|--------|--------|-----------------------|--------|
|                                |   |                 |   |   |               |   |   |                     |   |   | Number      of Shares |   |
|                                |   |                 |   |   |               |   |   | Total      Number of     |   |   | That      May Yet Be  |   |
|                                |   |                 |   |   |               |   |   | Shares      Purchased    |   |   | Purchased      Under  |   |
|                                |   | Total      Number of |   |   | Average      Price |   |   | as      Part of Publicly |   |   | the      Plan at the  |   |
| For the month ended:                |   | Shares Purchased(1)  |   |   | Paid Per Share     |   |   | Announced Plan(2)        |   |   | End of the Period(2)  |   |
|                                |   |                 |   |   |               |   |   |                     |   |   |                  |   |
| October      1 - October 31         |   |                 | 0      |   |               | $      | 0      |                     |   |   | 0                     |   |   |   | 226,110 |   |
| November      1 - November 30       |   |                 | 3,150  |   |               | $      | 13.82  |                     |   |   | 0                     |   |   |   | 226,110 |   |
| December      1 - December 31       |   |                 | 0      |   |               | $      | 0      |                     |   |   | 0                     |   |   |   | 226,110 |   |
|      Total |   |                 | 3,150  |   |               | $      | 13.82  |                     |   |   | 0                     |   |   |   | 226,110 |   |

Item6.  Selected Financial Data

Item7.  Management's Discussion and Analysis of Financial Condition andResults of Operation

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Item8.  Financial Statements and SupplementaryData

Item9.  Changes in and Disagreements with Accountants on Accounting andFinancial Disclosure

Item9A(T).  Controls and Procedures

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Item9B.  Other Information

Item10.  Directors, Executive Officers and CorporateGovernance

Item11.  Executive Compensation

Item12.  Security Ownership of Certain Beneficial Owners and Managementand Related Stockholder Matters

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Item13.  Certain Relationships and Related Transactions, and DirectorIndependence

Item15.  Exhibits and Financial StatementSchedules

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** Exhibit 12 (Statement re Computation of Ratios) is omitted inaccordance with the regulatory relief available to smaller reporting companiesin SEC Release Nos. 33-8876 and 34-56994 (effective February 4,2008).

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Table ofContents

| COMMUNITY      BANCORP. |
|-------------------------|

| BY: /s/ Stephen P.      Marsh               |   | Date:  March      31, 2008 |
|------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------|
|    Stephen      P. Marsh, President                                                                     |   |                                 |
|    and      Chief Executive Officer                                                                     |   |                                 |

| BY: /s/ Stephen P. Marsh                                   |   | Date:  March      31, 2008 |
|------------------------------------------------------------|--------|--------------------------------------|
|    Stephen      P. Marsh, President and CEO |   |                                 |
|                                                       |   |                                 |
| COMMUNITY      BANCORP. DIRECTORS                          |
|                                                       |   |                                 |
|  /s/ Thomas E. Adams                                  |   | Date:  March      31, 2008 |
| Thomas      E. Adams                                       |   |                                 |
|                                                       |   |                                 |
|  /s/ Charles W. Bucknam,      Jr.                     |   | Date:  March      31, 2008 |
| Charles      W. Buckman, Jr.                               |   |                                 |
|                                                       |   |                                 |
|  /s/ Aminta K. Conant                                 |   | Date:  March      31, 2008 |
| Aminta      K. Conant                                      |   |                                 |
|                                                       |   |                                 |
|  /s/ Jacques R. Couture                               |   | Date:  March      31, 2008 |
| Jacques      R. Couture                                    |   |                                 |
|                                                       |   |                                 |
|  /s/ Elwood G.Duckless                                |   | Date:  March      31, 2008 |
| Elwood      G. Duckless                                    |   |                                 |
|                                                       |   |                                 |
|  /s/ Rosemary M.Lalime                                |   | Date:  March      31, 2008 |
| Rosemary      M. Lalime                                    |   |                                 |
|                                                       |   |                                 |
|  /s/ Marcel Locke                                     |   | Date:  March      31, 2008 |
| Marcel      Locke                                          |   |                                 |
|                                                       |   |                                 |
|  /s/ Stephen P. Marsh                                 |   | Date:  March      31, 2008 |
| Stephen      P. Marsh                                      |   |                                 |
|                                                       |   |                                 |
|  /s/ Dorothy R.    Mitchell                           |   | Date:  March      31, 2008 |
| Dorothy      R. Mitchell                                   |   |                                 |
|                                                       |   |                                 |
|  /s/ Anne T. Moore                                    |   | Date:  March      31, 2008 |
| Anne      T. Moore                                         |   |                                 |
|                                                       |   |                                 |
|  /s/ Peter J. Murphy                                  |   | Date:  March      31, 2008 |
| Peter      J. Murphy                                       |   |                                 |
|                                                       |   |                                 |
| /s/Richard C. White                                        |   | Date:  March      31, 2008 |
| Richard      C. White                                      |   |                                 |

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