0001354488-14-003604.txt : 20140710 0001354488-14-003604.hdr.sgml : 20140710 20140710111227 ACCESSION NUMBER: 0001354488-14-003604 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140709 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140710 DATE AS OF CHANGE: 20140710 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMMUNITY BANCORP /VT CENTRAL INDEX KEY: 0000718413 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 030284070 STATE OF INCORPORATION: VT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16435 FILM NUMBER: 14968667 BUSINESS ADDRESS: STREET 1: PO BOX 259 CITY: DERBY STATE: VT ZIP: 05829 BUSINESS PHONE: 8023347915 MAIL ADDRESS: STREET 1: DERBY ROAD CITY: DERBY STATE: VT ZIP: 05829 8-K 1 cmtv_8k.htm CURRENT REPORT cmtv_8k.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
July 9, 2014
(Date of Report - Date of earliest event reported on)
 

Vermont
000-16435
03-0284070
(State of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 

4811 US Route 5, Derby, Vermont
05829
(Address of Principal Executive Offices)
(Zip Code)
 
Registrant's Telephone Number: (802) 334-7915
 
Not Applicable
(Former name, former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o Written communications pursuant to Rule 425 under the Securities Act (17CFR 203.425)
 
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


 
 
 
 
 
Item 2.02.  Results of Operations and Financial Condition
 
As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 2.02 and in Exhibit 99.1 hereto shall not be deemed filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing with the Securities and Exchange Commission, except as shall be expressly provided by specific reference in such filing.
 
On July 9, 2014, Community Bancorp. issued a press release, a copy of which is furnished as Exhibit 99.1 to this Report on Form 8-K, announcing its earnings for the period ended June 30, 2014.
 
Item 9.01  Financial Statements and Exhibits
 
(d)  Exhibits
 
The following Exhibit, referred to in Item 2.02 of this Report is furnished, not filed, herewith:
 
Exhibit 99.1, Press Release dated July 9, 2014.
 
 
2

 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
   
COMMUNITY BANCORP.
     
DATED: July 9, 2014
 
/s/ Stephen P. Marsh                                
   
Stephen P. Marsh, Chairman, President
   
& Chief Executive Officer
 
 

 
3

 
EX-99.1 2 cmtv_ex991.htm PRESS RELEASE cmtv_ex991.htm
Exhibit 99.1


PRESS RELEASE

Community Bancorp. Reports Earnings and Dividend

July 9, 2014
For immediate release

For more information, contact: Stephen Marsh, President & CEO at (802) 334-7915

Trading Symbol:  CMTV
(traded on the OTCBB)

Derby, VT: Community Bancorp., the parent company of Community National Bank, has reported earnings for the second quarter ended June 30, 2014, of $1,284,386 or $0.26 per share compared to $1,238,344 or $0.25 per share for the second quarter of 2013.  Year to date earnings for 2014 were $2,355,951 or $0.47 per share compared to $2,280,122 or $0.46 per share a year ago.

Total assets at June 30, 2014 were $562,241,755 compared to $573,667,404 at year end and $554,644,442 at June 30, 2013.  The decrease in the balance sheet compared to year end was partially due to maturing municipal investments and a corresponding decrease in municipal deposits.

President and CEO Stephen Marsh commented on the second quarter results.  “We are pleased with continued incremental increase in earnings in this stagnant economy.”

As previously announced, the Company has declared a quarterly cash dividend of $0.16 per share payable August 1, 2014 to shareholders of record as of July 15, 2014.

Community National Bank is an independent bank that has been serving its communities since 1851, with offices located in Derby, Derby Line, Island Pond, Barton, Newport, Troy, St. Johnsbury, Montpelier, Barre, Lyndonville, Morrisville and Enosburg Falls.

Forward Looking Statements

This press release contains forward-looking statements, including, without limitation, statements about the Company’s financial condition, capital status, dividend payment practices, business outlook and affairs.  Although these statements are based on management’s current expectations and estimates, actual conditions, results, and events may differ materially from those contemplated by such forward-looking statements, as they could be influenced by numerous factors which are unpredictable and outside the Company’s control.  Factors that may cause actual results to differ materially from such statements include, among others, the following: (1) general economic or monetary conditions, either nationally or regionally, continue to decline, resulting in a deterioration in credit quality or diminished demand for the Company’s products and services; (2) changes in laws or government rules, or the way in which courts interpret those laws or rules, adversely affect the financial industry generally or the Company’s business in particular, or may impose additional costs and regulatory requirements; (3) interest rates change in such a way as to reduce the Company’s interest margins and its funding sources; and (4) competitive pressures increase among financial services providers in the Company’s northern New England market area or in the financial services industry generally, including pressures from nonbank financial service providers, from increasing consolidation and integration of financial service providers and from changes in technology and delivery systems.
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