DERBY, VT / ACCESSWIRE / May 24, 2023 / Community Bancorp. held its 2023 Annual Shareholders meeting through a virtual platform on Tuesday, May 16, 2023. The webcast replay can be accessed through the company's website communitybancorpvt.com, and will be available until May 16, 2024.
A quorum of shareholders cast ballots and voted affirmatively on two proposals: re-electing Thomas E. Adams, Jacques R. Couture, Emma L. Marvin and James G. Wheeler, Jr. to three-year terms expiring in 2026, and ratifying BerryDunn as the Company's external auditors for 2023.
During the business portion of the meeting, President and CEO Kathy Austin shared that the bank passed the $1.0 billion threshold in 2021, initially reflecting pandemic relief programs, and more recently reflecting solid organic growth in the bank's loan portfolio and deposit base. The bank reported $1.03 billion in consolidated assets as of March 31, 2023, up 2% year-over-year.
Executive Vice President and Chief Lending Officer Christopher Caldwell discussed continued lending growth and success stories created by the relationships CNB's experienced lending team has built with customers. He noted that CNB lenders bring deep knowledge of their markets and flexible, responsive and creative approaches to seize opportunities.
Executive Vice President and Chief Operating & Innovation Officer Leslie Delhaie covered three areas of strategic transformation initiatives for the bank, including enhancing the customer experience, driving efficiencies and improving customer retention.
Executive Vice President and Chief Financial Officer Louise Bonvechio provided a deeper review of the bank's strong recent financial results, including overall trends and metrics.
CEO Austin concluded the meeting by commenting, 'First quarter 2023 results demonstrate the bank is performing well, and we remain well-positioned to sustain profitable growth while serving our communities. We appreciate the privilege it is to be the current stewards of this company and bank.'
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SOURCE: Community Bancorp. Inc Vermont
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