Company: CVCO
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000278166-25-000128
Chunk: 50

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 50
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ICO score317 441 — — — 271 1,029 $21,935 $10,860 $323 $92 $1,804 $23,148 $58,162 As of June 28, 2025, 53% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas. As of March 29, 2025, 54% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 11% was concentrated in Florida. Other than Texas and Florida, no state had concentrations in excess of 10% of the outstanding principal balance of the consumer loans receivable as of June 28, 2025 or March 29, 2025.

8. Commercial Loans Receivable

The commercial loans receivable balance consists of direct financing arrangements for the home product needs of our independent distributors, community owners and developers.Commercial loans receivable, net consisted of the following (in thousands):June 28,2025March 29,2025Loans receivable (including from affiliates)$108,143 $100,297 Allowance for loan losses (338)(361)Deferred financing fees, net(203)(190)107,602 99,746 Less current portion of commercial loans receivable (including from affiliates), net(48,952)(46,373)$58,650 $53,373 The commercial loans receivable balance had the following characteristics:June 28,2025March 29,2025Weighted average contractual interest rate8.0 %8.3 %Weighted average months outstanding1010

8

Nonperforming status includes loans accounted for on a non-accrual basis and accruing loans with principal payments 90 days or more past due. As of June 28, 2025 and March 29, 2025, there were no commercial loans considered nonperforming. The following table disaggregates the outstanding principal balance of our commercial loans receivable by fiscal year of origination (in thousands):June 28, 202520262025202420232022PriorTotalPerforming$33,246 $49,507 $19,163 $4,910 $998 $319 $108,143 March 29, 202520252024202320222021PriorTotalPerforming$66,843 $24,215 $7