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River Valley Bancorp Announces Increase In Earnings For The Period Ended June 30, 2010

River Valley Bancorp (NASDAQ: RIVR), an Indiana corporation (the “Corporation”) and holding company for River Valley Financial Bank, based in Madison, Indiana announced today earnings for the period ended June 30, 2010.

Net income for the quarter ending June 30, 2010 was $715,816 or $0.41 per share. This quarter represented approximately a $1.1 million swing from the net loss of ($361,944), or a net loss of ($0.24) per share, recorded as of June 30, 2009. In the second quarter of 2009, the Corporation increased its allowance for loan losses by adding a $2.1 million provision for loan losses. In the current quarter, the Corporation expensed $360,000 in provision for loan losses. The return on average assets for the period ended June 30, 2010 was 0.72%, and the return on average equity was 8.98%.

Besides the variance in the provision for loan losses between like quarters, the results reflect improving interest margins, partially offset by lower noninterest income, slightly higher operating expenses, and significantly higher income tax expense.

For the six-month period ended June 30, 2010, net income was $1.4 million, or $0.83 per share. For the six-month period ended June 30, 2009, net income was $181,237, or $0.12 per share. The return on average assets for the six-month period ended June 30, 2010 was 0.72%, and the return on average equity was 9.08%. For the same six-month period in 2009, those corresponding numbers were 0.09% and 1.44%. As was previously noted, the extraordinary provision in the second quarter of 2009 impacted the year-to-date 2009 numbers. For the six-month period ended June 30, 2010, the Corporation expensed $525,000 for the provision for loan losses, and correspondingly expensed $2.4 million in 2009. For year-to-year comparison for the six-month period ended June 30th, besides the variance for the provision for loan losses, the results reflect improving interest margins, and slightly lower operating expenses due to a special FDIC insurance assessment in 2009. These results were partially offset by lower noninterest income, and substantially higher income tax expense.

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