FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

OMB APPROVAL

Check this box if no longer

OMB Number: 3235-0287

subject to Section 16. Form 4 or

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Expires: January 31, 2005

Form 5 obligations may continue.

Estimated average burden

See Instruction 1(b).

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility

hours per response. . . .0.5

(Print or Type Responses)

Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person*

2. Issuer Name and Ticker or Trading Symbol

6. Relationship of Reporting Person(s) to Issuer

(Check all applicable)

Marsh

Stephen

P.

Community Bancorp. / CMTV

__X___Director

_____ 10% Owner

(Last)

(First)

(Middle)

3. I.R.S. Identification

4. Statement for

__X___Officer (give

_____ Other (specify below)

Number of Reporting

Month/Day/Year

title below)

PO Box 48

Person, if an entity

03/

10

/2003

Vice President & Treasurer

(Street)

(Voluntary)

5. If Amendment, Date of

7. Individual or Joint/Group Filing (Check Applicable Line)

Morgan

VT

05853

Original (Month/Day/Year)

_X_Form filed by One Reporting Person

(City)

(State)

(Zip)

009-36-5410

___Form filed by More than One Reporting Person

Table 1 - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security

2. Trans-

2A.

3. Transaction

4. Securities Acquired (A)

5. Amount of

6. Ownership

7. Nature of

(Instr. 3)

action

Deemed

Code

or Disposed of (D)

Securities

Form:

Indirect

Date

Execution

(Instr. 8)

(Instr. 3, 4 and 5)

Beneficially

Direct (D)

Beneficial

Date, if

Owned

or Indirect

Ownership

any

Following

(I)

(Month/

(Month/

(A)

Reported

Day/

Day/

or

Transaction(s)

Year)

Year)

Code

V

Amount

(D)

Price

(Instr. 3 and 4)

(Instr. 4)

(Instr. 4)

Community Bancorp. Common Stock

2/1/2003

J (1)

1,510.900

A

$15.688

31,728.900

D

Community Bancorp. Common Stock

2/1/2003

J (2)

0.900

D

$15.688

31,728.000

D

Community Bancorp. Common Stock

3/7/2003

S

650.000

D

$15.250

31,078.000

D

Community Bancorp. Common Stock

3/10/2003

S

818.000

D

$15.250

30,260.000

D

Community Bancorp. Common Stock

B

1,006.595

A

17,302.750

I

401K Plan

J(1) These shares were acquired from a 5% stock dividend.

J(2) This represents the redemption of a fractional share.

B A portion of these shares were from a 5% stock dividend payable 02/01/03, a portion of these shares were purchased by the Trustee from the participant's loan payment and a

portion of these shares were purchased by the Trustee with new contributions to the stock fund made from 12/31/02 to 03/10/03. The range of prices paid was $15.25 to $15.50.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

*If the form is filed by more than one reporting person, see Instruction 4(b)(v).

SEC 1474 (9-02)

**Intentional misstatements or ommissions of facts constitute Federal Criminal

Violations. See 18 U.S.C. 1001 and U.S.C. 78ff(a).

/s/Stephen P. Marsh

3/10/2003

Persons who respond to the collection of information contained in this form are not required

**Signature of Reporting Person

Date

to respond unless the form displays a currently valid OMB control number.

NOTE: Table II Not Applicable at this time