Community Bancorp. reported consolidated net income of $3.5 million for the three months ended March 31, 2025, a 25% increase from $2.8 million in the same period of 2024. This translates to $0.62 per share for Q1 2025, up from $0.51 per share in Q1 2024.
The improvement was significantly driven by a $1.1 million increase in net interest income after credit loss expense, with total interest income growing by $1.7 million, or 13.0%, year-over-year to $14.52 million. This growth was primarily fueled by a 13.2% increase in interest and fees on loans, reflecting a 1.33% expansion of the loan portfolio to $940.27 million.
Despite a 35.9% surge in interest on deposits due to competitive pressures, the company's net interest margin increased by 20 basis points to 3.49%, partially aided by a 60.8% decrease in interest on borrowed funds from the payoff of Bank Term Funding Program advances. The company maintains a strong capital position, exceeding regulatory requirements, with a common equity tier 1 capital ratio of 12.07%.
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