Derby, Vt.-based Community Bancorp.'s board approved the partial redemption of its 5.50% outstanding fixed-to-floating rate noncumulative perpetual preferred stock, series A.

The company will redeem 5 of the 20 outstanding preferred shares March 31, at a redemption price of $101,375 per share, which includes the liquidation price of $100,000 per share and a quarterly dividend of $1,375.