Community Bancorp. · NASDAQ:CMTV
Community Bancorp — Shareholder Meeting (May 2023)
25 slides from Community Bancorp's shareholder meeting presentation, May 16, 2023
Slide 1: Welcome: Annual Meeting of the Shareholders
Welcome Annual Meeting of the Shareholders of Community Bancorp. May 16, 2023 Musicians Don Houghton, Jr. and his sidekick, Ned, entertain Dandelion One of many dandelion-filled fields in Holland, Morgan and Derby, Run participants. Community National Bank is the presenting sponsor. Vermont on the c
Slide 2: Introductions
Introductions Board of Directors Executive Officers • Thomas Adams • Kathryn Austin, President & Chief • Kathryn Austin Executive Officer • Bruce Baker • Louise Bonvechio, Executive Vice • David Bouffard President & Chief Financial Officer • Aminta Conant • Christopher Caldwell, Executive Vice • Jac
Slide 3: Matters to Come Before the Meeting
Matters to Come Before the Meeting • Election of Directors to a three-year term expiring in 2026 ̶ Thomas E. Adams ̶ Jacques R. Couture ̶ Emma L. Marvin ̶ James G. Wheeler, Jr. • Ratification of BerryDunn as the Company’s external auditors for 2023 Congratulations, Dodie Mitchell on your retirement!
Slide 4: Questions?
Questions? We are happy to answer any questions you may have. To submit questions, please use the Message icon in the top right-hand corner of your screen. Thank you and adjournment of the business meeting.
Slide 5: Annual Meeting Presentation
Annual Meeting Presentation Community Bancorp. (OTCQX: CMTV) Annual Meeting Presentation May 2023 Vice President and Commercial Loan Officer Dave Rubel greets a customer at our Barre office.
Slide 6: Forward-looking Statements
Forward-looking Statements This presentation contains forward-looking statements that are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about the Company’s financial condition, capital status, d
Slide 7: Community National Bank: Quick Highlights
Community National Bank: Quick Highlights • Community National Bank, primary operating subsidiary ̶ 12 full service branches, 2 loan offices, ∼ 130 employees ̶ Full line of business and personal banking services About Community National Bank • $1.03 billion consolidated assets as of March 31, 2023 ̶
Slide 8: Senior Management Team
Senior Management Team Kathryn M. Austin Louise Bonvechio President & CEO Executive Vice President & CFO Community National Bank Community National Bank Community Bancorp. Treasurer & Corporate Secretary About Community National Bank Community Bancorp. Christopher Caldwell Leslie Delhaie Executive V
Slide 9: Community National Bank Goals and Vision
Community National Bank Goals and Vision • Grow loan portfolios • Grow deposits, Treasury and cash management, municipal relationships About Community National Bank • Focus on convenience for digital and in-person banking offerings • Emphasize on-going risk management and prudent practices • Invest
Slide 10: 2022 Financial Highlights
2022 Financial Highlights • Generated net income of $13.7 million, $2.53 per share – 4.6% increase year-over-year in earnings; and 3.3% increase in EPS • Total assets grew to About $1.056 Community National billion, up 3.6% Bank year-over-year – Higher loan volume primary driver • Total deposits of
Slide 11: Community Banking Landscape in Vermont Today
Community Banking Landscape in Vermont Today • Continuing commercial loan demand and core deposit growth, despite higher interest rates • Competition for deposits • War for talent About Community National Bank • Addressing concern about stability: – Strong capital position, underscored by dividend –
Slide 12: Commercial Lending Highlights – Chris Caldwell
Commercial Lending Highlights – Chris Caldwell • Solid growth across commercial loan segments • Diversification of business customers – Across all lines of business there is a great deal of demand – Credit quality remains high About Community National Bank • Competitive in territory with both ‘big’
Slide 13: Lending Environment and Approach
Lending Environment and Approach • Seasoned team, geographically-based, with sector focus in market • Strong business banking franchise including CRE and C&I • Recent successes reflect: – Relationship banking About Community National Bank – Knowledge of market – Flexibility and creativity • Continue
Slide 14: Strategic Transformation – Leslie Delhaie
Strategic Transformation – Leslie Delhaie Enhance • Online Banking Enhancements • Online Account Applications Customer Three Key Areas of Focus • Branch Resource Leveling Experience • Enhance customer experience About Community National Bank • Drive efficiencies Drive • Improve customer retention Ef
Slide 15: 2022 Financial Overview – Louise Bonvechio
2022 Financial Overview – Louise Bonvechio • Finished year in strong capital position • Healthy core deposit, loan and asset growth • High credit quality across loan portfolio, outside of one non-performing About Community National Bank loan from 2021 • Deposit growth only partially offset by higher
Slide 16: First Quarter 2023 Financial Highlights
First Quarter 2023 Financial Highlights • Generated net income of $3.3 million, $0.61 per share – 38% increase year-over-year in earnings, 39% increase in EPS About • Total assets $1.03 billion, up 2%Community year-over-yearNational Bank – 9% loan portfolio growth, offset by decrease in cash and ove
Slide 17: Financial Performance
Financial Performance Three Months Ended March 31, Year Ended December 31, 2023 2022 2022 2021 Operating Data Total interest income $10,770,225 $8,251,546 $37,114,657 $34,790,539 Total interest expense 2,246,860 693,317 4,030,100 3,121,499 Net interest income 8,523,365 7,558,229 33,084,557 31,669,04
Slide 18: Loan Portfolio
Loan Portfolio* Portfolio Break-out 3% 1% About Community National Bank 16% 27% 5% Commercial & industrial Municipals CRE Residential Mortgages HELOCs 48% Consumer *As of March 31, 2023 Vermont’s Community Bank
Slide 19: Strong Today and Positioned for Continued Success
Strong Today and Positioned for Continued Success • Continued track record of success • Strong team, operations and systems About Community National Bank – Added senior management talent – Enhancing operations with innovation lens • Commitment to profitable growth • Integral role in community ensure
Slide 20: Community is Where you Build It
Community is Where you Build It Proudly supporting the growth and development of The Homestead childcare facility located on Shelburne Road in South Burlington. Vermont’s Community Bank
Slide 21: Select Financial Data
Appendix About Community National Bank Select Financial Data Vermont’s Community Bank
Slide 22: Balance Sheet Summary
Balance Sheet Summary Three Months Ended March 31, Year Ended December 31, 2023 2022 2022 2021 Net loans About Community National Bank $749,840,153 $688,676,880 $740,332,658 $682,240,305 Total assets 1,030,539,393 1,005,190,870 1,056,032,147 1,019,105,799 Total deposits 888,545,099 877,300,445 922,9
Slide 23: Operating Results, Trailing Five Quarters
Operating Results, Trailing Five Quarters About Community National Bank Vermont’s Community Bank
Slide 24: Net Income, Trailing Five Quarters
Net Income, Trailing Five Quarters About Community National Bank Vermont’s Community Bank
Slide 25: Asset Quality Metrics
Asset Quality Metrics About Community National Bank Vermont’s Community Bank