Community Bancorp (CMTV) AGM 2025 summary

Opening remarks and agenda

• Annual shareholders meeting held on May 20, 2025, at East Side Restaurant & Pub.

Financial performance review

• FY 2024 net income declined 5% to $12.8M ($2.28/share) due to rising interest and mortgage rates; EPS down 6.6%.

• Total assets grew 13.6% to $1.25B; net loans up 9.9% to $918.8M; deposits up 11.7% to $1B.

• Q1 2025 net income rebounded, up 25% YoY to $3.5M ($0.62/share); assets up 7.3%, deposits up 10.9%.

• Net interest income for 2024 rose 1.2% to $34.6M; Q1 2025 net interest income up 12.9% YoY.

• Loan portfolio diversified: CRE and C&I loans 64%, residential mortgages and HELOCs 28%.

Board and executive committee updates

• Board includes Stephen Marsh (Chair), Christopher Caldwell (President/CEO), Louise Bonvechio (EVP/CFO), and others.

• Recognition of Kathy Austin for her career (1980–2024) and Fred Oeschger for 15 years of board service.