UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
April 11, 2000
(Date of Report - Date of earliest event reported)
COMMUNITY BANCORP.
(Exact name of registrant as specified in its chapter)
Vermont 000-16435 03-0284070
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
Community Bancorp.
Derby Road
Derby, VT 05829
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (802) 334-7915
Not Applicable
(Former name, former address, if changed since last report)
Item 5. Other Events.
On April 11, 2000, Community Bancorp. (the Company) issued a press release
announcing a stock buyback plan. The Company plans to buy back up to 6% or
205,000 shares of its outstanding common stock. As of such date, the Company
had 3.417 million outstanding shares. The text of the press release is
filed as an exhibit to this report.
Item 7. Exhibits
Exhibit 99 - Press release dated April 11, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COMMUNITY BANCORP.
DATED: April 11, 2000 /s/ Richard C. White
Richard C. White
President & Chief
Executive Officer
EXHIBITS
Exhibit 99
COMMUNITY BANCORP. REPORTS EARNINGS
AND ANNOUNCES STOCK REPURCHASE PLAN
Community Bancorp., the parent company of Community National Bank, has
reported first quarter earnings of $433,625 or $.13 per share, as compared
to $410,797 or $.13 per share for the same period one year ago. Total
assets as of March 31, 2000 were reported to be $232,279,143.
The company has declared a cash dividend of sixteen cents per share,
payable on May 1st to shareholders of record as of April 15th.
The Board of Directors has also approved a Stock Repurchase Plan under
which the Company is authorized to acquire up to 6% of the outstanding
Common Stock, or up to approximately 205,000 shares, of the issued and
outstanding shares of its Common Stock.
The Company placed no deadline on the Repurchase Plan but expects to
make open market and/or privately negotiated purchases from time to time
over the next twelve months, in such amounts and at such prices as market
conditions warrant, subject to appropriate regulatory considerations.
The repurchased shares will be held in treasury and may be reissued from
time to time pursuant to the Company's Dividend Reinvestment and Stock
Purchase Plan or for other general corporate purposes.
