COMMUNITY BANCORP /VT
For the period ended Dec 31, 2024. Filed Mar 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 28, 2025
CMTV$47.18-0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
EX-13 · Non-interest Income
Non-interest Income
The components of non-interest income for the annual periods presented are as follows:
| Years Ended | ||||
|---|---|---|---|---|
| December 31, · Change | ||||
| 2024 | 2023 | Income | Percent | |
| Service fees | $3,811,141 | $3,689,047 | $122,094 | 3.31% |
| Income from sold loans | 370,360 | 463,444 | (93,084) | -20.09% |
| Other income from loans | 1,228,555 | 1,405,435 | (176,880) | -12.59% |
| Net realized gain on sale of securities AFS | 0 | 36,707 | (36,707) | -100.00% |
| Other income | ||||
| Income from CFS Partners | 1,220,909 | 1,033,499 | 187,410 | 18.13% |
| Other miscellaneous income | 551,251 | 546,944 | 4,307 | 0.79% |
| Total non-interest income | $7,182,216 | $7,175,076 | $7,140 | 0.10% |
Total non-interest income increased $7,140 for the year ended December 31, 2024, compared to the same period 2023, with significant changes noted in the following:
| · | The volume of loans sold into the secondary market during 2024 decreased by $3.2 million compared to 2023 resulting in a decrease year over year in income from sold loans. |
| · | The increased volume of commercial loan activity generated a substantial amount of documentation fees, but a complex CRE project that closed during the first three months of 2023 generated approximately $126 thousand in documentation fees, accounting for a significant portion of the decrease in other income from loans between periods. |
| · | There were no sales of investments during 2024, but sales of investments from the Company’s tax-exempt investment portfolio during the fourth quarter of 2023 resulted in a net realized gain on sale of securities AFS for 2023. |
| · | Income from CFS Partners increased year over year due in part to an equity market rally during 2024 and successful retention of managed accounts during the same period. CFS Partners has a small portion of its equity capital invested in the stock market, and as a result is sensitive to general stock market conditions. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.