Community Bancorp (CMTV) Q2 2025 earnings summary

Executive summary

• Net income for Q2 2025 rose 48.81% year-over-year to $4.1 million, with six-month net income up 36.6% to $7.6 million.

• Total assets decreased 6.6% to $1.17 billion since year-end 2024, driven by lower overnight deposits, but grew 6.01% year-over-year.

• Book value per share increased to $18.69 from $17.24 at year-end 2024 and $16.17 year-over-year.

• The Board declared a quarterly dividend of $0.24 per share, payable August 1, 2025.

• The company was recognized by Forbes as the best bank in Vermont.

Financial highlights

• Net interest income for Q2 2025 was $9.9 million, up 22.14% year-over-year; six-month net interest income rose 17.62% to $19.3 million.

• Total deposits declined 6.9% to $933.0 million since year-end 2024, but increased 9.92% year-over-year.

• Non-interest income for Q2 2025 grew 16.2% to $2.1 million; six-month non-interest income up 6.8% to $3.6 million.

• Non-interest expense increased 6.3% for Q2 and 4.8% for the first half, mainly due to higher employee benefits and occupancy costs.

• Credit loss expense for Q2 was $407,046, up 22.8% year-over-year, reflecting loan growth.

Outlook and guidance

• Management expects continued pressure on funding costs due to competitive deposit pricing and market rates.

• Strategic focus remains on balance sheet strength, efficient product delivery, and community engagement amid economic and trade uncertainties.

• Interest rate risk simulations indicate NII could decrease 3.5% if rates rise 200 bps, but remain within policy limits.

• Forward-looking statements caution that actual results may differ due to economic, regulatory, and competitive factors.