Community Bancorp Q1 net income up 38.8% to $0.61/sh; loans grow 8.95%

COMMUNITY BANCORP /VT

Net income $3.3M ($0.61/sh) vs $2.4M ($0.44/sh) in Q1 2022, a 38.8% increase.
Total assets $1.03B; loan portfolio grew $62.3M (8.95%) YoY; deposits up $11.2M (1.28%).
Net interest income $8.5M (+12.8% YoY); provision for credit losses down to $207,540 from $862,500.
Book value per share $14.33; declared $0.23/sh quarterly dividend payable May 1, 2023.
CEO highlights strong organic growth despite rising rates and challenging economy.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COMMUNITY BANCORP /VT reported the first quarter ended March 31, 2023 results: net income $3.3 million, EPS $0.61 per share.

Period: the first quarter ended March 31, 2023
Net income: $3.3 million
EPS: $0.61 per share
Result: reported results

Exact text from the filing

Community Bancorp. Reports First Quarter 2023 Earnings; Higher Earnings Reflect Continued Strong Growth in Assets, Deposits and Loans For immediate release Derby, VT: April 21, 2023 --- Community Bancorp., (OTCQX:CMTV) Community National Bank reported earnings for the first quarter ended March 31, 2023, of $3.3 million or $0.61 per share

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COMMUNITY BANCORP /VT filing history →

Source: SEC EDGAR

accession 0001654954-23-005044

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