SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 11-K/A

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2002

Commission File Number - 33-44713

REQUIRED INFORMATION

The Community Bancorp. and Designated Subsidiaries' Retirement Savings Plan is an ERISA plan with more than 100 participants. Required financial statements filed with this report:

Financial Report for plan year ended December 31, 2002.

This form 11-K/A is being filed for the purpose of including the Independent Auditors Report and Consent for the period ended December 31, 2001, from A.M. Peisch & Company, LLP, the Company's former independent accounting firm.

Board of Directors

Community Bancorp. and Designated Subsidiaries Retirement Savings Plan

We have audited the accompanying statement of net assets available for benefits of Community Bancorp. and Designated Subsidiaries Retirement Savings Plan as of December 31, 2002, and the related statement of changes in net assets available for benefits for the year then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statements of Community Bancorp. and Designated Subsidiaries Retirement Savings Plan as of December 31, 2001 were audited by other auditors, whose report dated June 27, 2002 expressed an unqualified opinion on those statements.

We conducted our audit in accordance with U.S. generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of Community Bancorp. and Designated Subsidiaries Retirement Savings Plan as of December 31, 2002 and the changes in net assets available for benefits for the year then ended in conformity with U.S. generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplementary information is the responsibility of the Plan's management. The supplemental information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

/s/ Berry, Dunn, McNeil & Parker

Portland, Maine

August 13, 2003

Community National Bank
Community Bancorp. and
  Designated Subsidiaries
  Retirement Savings Plan
Derby, Vermont

We have audited the accompanying statement of net assets available for benefits of Community Bancorp. and Designated Subsidiaries Retirement Savings Plan (The "Plan") as of December 31, 2001 and 2000 and the related statement of changes in net assets available for benefits for the years then ended. These financial statements and supplemental schedules are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with U.S. generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefit of Community Bancorp. and Designated Subsidiaries Retirement Savings Plan as of December 31, 2001 and 2000, and the changes in net assets available for benefits for the years then ended in conformity with U.S. generally accepted accounting principles.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of (1) assets held for investment purposes at end of year and (2) reportable transactions, together referred to as "supplemental information", are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental information is the responsibility

of the Plan's management. The supplemental information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole.

/s/A.M. Peisch & Company, LLP

June 27, 2002
Burlington, Vermont
VT Reg. No 92-0000102

See accompanying notes.

See accompanying notes.

The following description of the Community Bancorp. and Designated Subsidiaries Retirement Savings Plan (The "Plan") provides only general information. Participants should refer to the Plan Document for a more complete description of the Plan's provisions.

General

The Plan is a defined contribution plan covering substantially all employees of Community National Bank who have one year of service and are age twenty-one or older. It is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).

Administration

The Plan Administrator for Community Bancorp. and Designated Subsidiaries Retirement Savings Plan is Community National Bank. The Plan Administrator makes decisions about the operation of the Plan including selecting and reviewing the investment options available for Plan participants, reviewing applications for benefits, keeping records, preparing reports and handling any other matters concerning the Plan. The Trustee of the Plan is Banknorth Investment Management Group, formerly known as The Stratevest Group, N.A. The Trustee is appointed by Community National Bank to receive, hold, invest, administer and distribute the Plan's assets in accordance with the terms of the Plan and the directions of the Plan Administrator and participants. Hackett & Company, Inc., an employee benefit specialist, provides administrative and advisory services for the Plan Administrator.

Contributions

Beginning January 1, 1991, employees could elect to contribute to the Plan. Employees direct that their contributions be invested in one or more of the investment funds maintained by the Plan Trustee. Each eligible employee can contribute from 1 percent to 15 percent of annual compensation as Basic Contributions. All employee contributions are made on a before-tax basis. Before-tax contributions are subject to certain limitations. Participants may also contribute amounts representing distributions from other qualified defined benefit or contribution plans. The Employer matches employee contributions to the Plan in an amount determined by resolution of the Community National Bank (The "Bank") on an annual basis up to a maximum of 5 percent of compensation. In addition, the employer can also make a profit-sharing contribution in an amount as determined by resolution of the Bank. Any profit sharing contribution is allocated to employees based on compensation.

Note 1.  Description of Plan (Continued)

Participant accounts

Each participant's account is credited with the participant's contribution and allocations of (a) the Employer's contribution, and (b) Plan earnings, and charged with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined in the Plan Document. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

Vesting

Participants are at all times fully vested in their participant accounts with respect to their contributions. An employee who terminates employment for reasons other than death, disability, or retirement is vested in the employer's contribution portion based upon total number of years of service. Participants first become vested in their employer accounts after three years of service, at which point they are 20 percent vested. The percentage vested increases 20 percent per year each year through the next four years of service, at which point, the participant becomes fully vested. The forfeitable part shall be used to reduce future Employer contributions. Upon normal retirement age, 65 years, death or disability, a participant becomes fully vested. Participants become eligible for early retirement at the latter of age 55 or the completion of 7 years of service.

Investment options

Upon enrollment in the plan, a participant may direct employee contributions in 5 percent increments in any of nine investment options.

Participants may change their investment options quarterly.

Payment of benefits

Participants are entitled to a distribution when they reach age 65, retire, die, become disabled or terminate employment. Upon termination, participants may elect to remain in the Plan until they are eligible for benefits if their balance is over $5,000.

Participant loans

Employee contributions may be withdrawn (loans due from participants) by a participant in accordance with rules set in the Plan Document. Effective January 1, 1991, the Plan allows participants to borrow funds from their account if they have one complete year of participation. All loans require approval by the Plan Administrator. The amount of the loan shall not exceed one-half of their vested account reduced by their highest outstanding loan balance during the preceding 12 months, and in no event be greater than $50,000. There is no minimum loan amount, and no more than two loans may be outstanding at any one time. All loan repayments will be through payroll deductions. The term of the loan will be no greater than five years. Interest

Note 1.  Description of Plan (Continued)

is set by the Plan Administrator using a composite of what area financial institutions would lend under similar circumstances and for similar purposes. Amounts withdrawn from the plan as loans as of December 31, 2001 and 2000 are $173,016 and $138,609, respectively.

Note 2.  Summary of Significant Accounting Policies

Basis of accounting

The financial statements of the Plan are prepared using the accrual method of accounting.

Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires the plan administrator to make estimates and assumptions that affect certain reported amounts of assets and liabilities and changes therein, and disclosures of contingent assets and liabilities. Actual results could differ from those estimates.

Investment valuation and income recognition

The Plan's investments are stated at fair value. Quoted market prices are used to value investments. Shares of mutual funds are valued at quoted market prices which represent the net asset value of shares held by the Plan at year-end.

Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date.

Payment of benefits

Benefits are recorded when paid.

The Plan's investments are held in mutual funds and bank-administered common\collective trust funds. The following presents investments that represent five percent or more of the Plan's net assets at December 31, 2001 and 2000.

Note 3.  Investments (Continued)

During 2001 and 2000, the Plan's investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated (depreciated) in value by $560,292 and $331,483, respectively, as follows:

Although the Plan has received a favorable determination letter dated December 7, 1992 from the Internal Revenue Service, it has not been updated for the latest plan amendments. However, the Plan Administrator and the Plan's Counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. Therefore, the Plan Administrator believes that the Plan was qualified and the related trust was tax-exempt for the years ended December 31, 2001 and 2000.

Certain Plan investments are shares of mutual funds managed by Banknorth Investment Management Group, who is the Trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions.

In 2001 and 2000, fees in the amount of $14,192 and $20,526, respectively, were charged to the participants' accounts. Any remaining administrative expenses were paid for by the Plan Sponsor.

Although it has not expressed any intent to do so, the Employer has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of a plan termination, participants will become 100 percent vested in their accounts.

The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2001 and 2000 to Form 5500:

The above information has been certified by BankNorth Investment Management Group, the Trustee, as complete and accurate.

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrators have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.