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Stock impact report

Community Bancorp. Reports Second Quarter 2024 Earnings And Announces Stock Repurchase Program [Yahoo! Finance]

COMMUTY BANCORP VT (CMTV) 
NASDAQ:AMEX Investor Relations: communitynationalbank.com/community-bancorp
Company Research Source: Yahoo! Finance
June 30, 2024, of $2.7 million or $0.49 per share, a decrease of $468,153 or 14.65% compared to $3.2 million or $0.58 per share for the second quarter of 2023. Year to date earnings for 2024 are $5.6 million or $0.99 per share, a decrease of $984,014 or 15.06% compared to $6.5 million or $1.19 per share a year ago, both reflecting more challenging operating conditions for banks given persistent high interest rates. Total assets for the Company on June 30, 2024, were $1.1 billion, unchanged from year end 2023, and an increase from $1.03 billion as of June 30, 2023. Contributing to the bank's healthy asset levels was continued growth in the second quarter of 2024 in the Company's loan portfolio, which increased $81.19 million, or 10.40%, compared to the same period in 2023. This increase is net of $28 million in maturing municipal loans at the end of the annual municipal finance cycle for school districts in Vermont. Deposit balances decreased $2.45 million, or 0.29%, compared to the Show less Read more
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