Community Bancorp. reported its financial results for the first quarter of 2026, revealing a net income of $4.4 million, or $0.78 per share, a 23.9% increase from $3.5 million, or $0.62 per share, in the same period last year. The company's total interest income rose by 10.3% to $16 million, driven by a larger loan portfolio and higher interest rates on new loans. Interest expense remained relatively stable, decreasing slightly by 0.1% to $5.1 million, resulting in a net interest income of $10.9 million after accounting for credit loss expenses.
Total assets decreased to $1.24 billion as of March 31, 2026, down from $1.29 billion at the end of 2025, primarily due to a significant reduction in cash and cash equivalents, which fell by 49.6% to $64.6 million. The loan portfolio, however, increased by 1.9% to $983.9 million, with notable growth in commercial real estate and residential loans. Total deposits also declined by 4.9% to $1.02 billion, reflecting typical seasonal fluctuations, particularly in government-related accounts.
In terms of operational metrics, the company reported an increase in its allowance for credit losses (ACL) to $11.3 million, representing 1.15% of total loans. This increase was attributed to a rise in criticized loans within the commercial and commercial real estate segments. The company’s non-interest income also saw a 10.6% increase to $1.75 million, bolstered by higher service fees and other income from loans, although income from its investment in CFS Partners decreased slightly.
Looking ahead, Community Bancorp. remains focused on managing its interest rate risk and maintaining adequate liquidity. The company’s capital ratios indicate a strong position, with a common equity tier 1 capital ratio of 13.0%, well above the regulatory minimum. The board has declared a quarterly cash dividend of $0.25 per share, payable on May 1, 2026, reflecting the company's commitment to returning value to shareholders while navigating the current economic landscape.
About COMMUNITY BANCORP /VT
Community Bancorp./VT is a bank holding company primarily operating through Community National Bank, which offers a broad range of banking services including personal, business, real estate, municipal, and wealth management. Serving northeastern and central Vermont and parts of New Hampshire, it emphasizes community relationships, local market knowledge, and tailored financial products to individuals, small-to-medium businesses, and government entities. The company focuses on stable deposit bases and prudent regulatory compliance.
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