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Goodwill
12 Months Ended
Dec. 31, 2021
Goodwill  
Note 9. Goodwill

Note 9.  Goodwill

 

As a result of the acquisition of LyndonBank on December 31, 2007, the Company recorded goodwill amounting to $11,574,269. The goodwill is not amortizable and is not deductible for tax purposes. Management evaluated goodwill for impairment at December 31, 2021 and 2020 and concluded that no impairment existed as of such dates.