Company: CMTV
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001654954-25-005620
Chunk: 96

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 96
---
 old rate Items which have shown a year-to-year decrease in volume have variances allocated as follows: Variance due to rate = Change in rate x old volume Variances due to volume = Change in volume x new rate

 35Table of Contents

NON-INTEREST INCOME AND NON-INTEREST EXPENSE

Non-interest Income

The components of non-interest income for the periods presented were as follows:

  Three Months Ended         March 31,  Change   2025  2024  Income  Percent              Service fees $886,782  $897,920  $(11,138)  -1.24%Income from sold loans  69,377   79,104   (9,727)  -12.30%Other income from loans  270,167   254,601   15,566   6.11%Other income                Income from CFS Partners  249,350   294,327   (44,977)  -15.28%Other miscellaneous income  102,933   107,955   (5,022)  -4.65%Total non-interest income $1,578,609  $1,633,907  $(55,298)  -3.38%

Total non-interest income decreased $55,298, or 3.4%, for the three months ended March 31, 2025, compared to the same period in 2024, with significant changes noted in the following:

 ·The volume of loans sold into the secondary market during the first three months of 2025 decreased by $274 thousand compared to the same period last year, accounting for the decrease in income from sold loans year over year.     ·Although loan volume increased during the first three months of 2025, the increase was primarily in the 1 – 4 family residential loan portfolio with moderate growth in the CRE portfolio, generating documentation fees totaling $154 thousand for the first three months of 2025 compared to $175 thousand for the same period in 2024, offset by increases in Commercial LOC annual renewal fees and residential doc fees, accounting for the moderate increase in other income from loans year over year.    ·Income from CFS Partners decreased between periods due to realized losses from an equity portfolio. CFS Partners has a small portion of