Community Bancorp Q4 net income $3.5M ($0.64 EPS), down 25% YoY; full year EPS $2.43 vs $2.53

COMMUNITY BANCORP /VT

Q4 net income $3.5M ($0.64 EPS), down 25% YoY from $4.7M ($0.86 EPS); full year $13.4M ($2.43) vs $13.7M ($2.53).
Total assets $1.10B, up 4.1% YoY; loans grew $96.9M (+12.94%) offset by cash decline of $50.7M.
Quarterly cash dividend $0.23/share declared, payable Feb 1, 2024 to record Jan 15.
Provision for credit losses increased to $672K in Q4 from negative $347K; full year $1.48M vs $978K driven by single NPL write-down.
Equity capital rose to $89M ($15.87 book value) from $75.2M ($13.55), helped by lower unrealized losses on bonds.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COMMUNITY BANCORP /VT reported the fourth quarter ended December 31, 2023 results: net income $3.5 million, EPS $0.64 per share.

Period: the fourth quarter ended December 31, 2023
Net income: $3.5 million
EPS: $0.64 per share
Result: reported results

Exact text from the filing

Community Bancorp., (OTCQX:CMTV) Community National Bank reported earnings for the fourth quarter ended December 31, 2023, of $3.5 million or $0.64 per share, a decrease of $1.2 million or 24.85% compared to $4.7 million or $0.86 per share for the fourth quarter of 2022, as significantly higher interest rates affected the Bank’s operations.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COMMUNITY BANCORP /VT reported the full year ended December 31, 2023 results: net income $13.4 million, EPS $2.43 per share.

Period: the full year ended December 31, 2023
Net income: $13.4 million
EPS: $2.43 per share
Result: reported results

Exact text from the filing

Full year earnings for 2023 were $13.4 million or $2.43 per share, compared to $13.7 million or $2.53 per share for the prior year period, a decrease of $308 thousand or 2.24%.

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Source: SEC EDGAR

accession 0001654954-24-000827

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