COMMUNITY BANCORP VT
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 29, 2024
CMTV$47.18-0.0%Stored close · as of Nov 10, 2026
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EX-13 · Credit Loss Expense
Credit Loss Expense
Credit loss expense was made up of the following components for the periods indicated:
| Year Ended December 31, | 2023 | 2022 |
|---|---|---|
| Credit loss expense - loans | $1,230,879 | $978,000 |
| Credit loss expense - OBS credit exposures | 249,670 | 0 |
| Credit loss expense | $1,480,549 | $978,000 |
The following table presents the activity in the ACL on loans following adoption of ASU 2016-13 (CECL) on January 1, 2023 by portfolio segment for the period.
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