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
February
14, 2018
(Date
of Report - Date of earliest event reported on)
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Vermont
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000-16435
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03-0284070
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(State
of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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4811 US
Route 5, Derby, Vermont
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05829
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant's
Telephone Number: (802) 334-7915
Not Applicable
(Former
name, former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities
Act (17CFR 203.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
1
Item 8.01 Other Events
On
February 14, 2018, the Board of Directors of Community Bancorp.
(the “Company”)
approved the partial redemption of the Company’s outstanding
Series A Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred
Stock (the “Preferred
Stock”). Under the authorization, the Company will
redeem five (5) shares of the Preferred Stock on March 31, 2018 at
a per share redemption price of $101,125 per share, which
represents the per share liquidation price of $100,000 and a
quarterly dividend of $1,125. The Company expects to remain well
capitalized under applicable regulatory capital guidelines
following the redemption.
As of
the date of this report, there are 25 shares of Preferred Stock
outstanding and the dividend rate in effect for quarter ending
March 31, 2018 is 4.50% per annum.
2
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.
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COMMUNITY
BANCORP.
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DATED:
February 14, 2018
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/s/
Kathryn M. Austin
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Kathryn
M. Austin, President and
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Chief
Executive Officer
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