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River Valley Bancorp Announces Significant Year Over Year Earnings Increase For The Year Ended December 31, 2010

River Valley Bancorp (NASDAQ: RIVR), an Indiana corporation (the “Corporation”) and holding company for River Valley Financial Bank, based in Madison, Indiana announced unaudited earnings for the fourth quarter and fiscal year ended December 31, 2010.

For the year ended December 31, 2010, the Corporation reported net income of $2,320,000 or $1.30 per basic share. This compared to net income of $1,696,000 as of year ended December 31, 2009, or $1.10 per basic share. In comparing like-year periods, the Corporation experienced approximately a $238,000 decrease in 2010 on expense associated with the provision for loan losses, and saw generous increases in interest margins, partially offset by moderately higher operating costs, slightly lower noninterest income, and significantly higher income taxes. Expense associated with the provision for loan losses was still historically high at $2.6 million, but reflected the general state of the economy and particular weaknesses on aged credits. The return on average assets for fiscal 2010 was 0.59%; the return on average equity was 7.23%. For fiscal 2009 those numbers were 0.44% and 6.48% respectively.

For the fourth quarter ended December 31, 2010, the Corporation reported net income of $594,000 or $0.33 per basic share. This compared to net income of $766,000 for the quarter ended December 31, 2009, or $0.48 per basic share. This decrease was primarily attributed to a $420,000 increase in the provision for loan losses over the like period in 2009. For the period ended December 31, 2010 the Corporation expensed $730,000 for the provision for loan losses. With the exception of the provision for loan losses, the other operating indicators including interest margins and noninterest income all reflected improvement over the previous year quarter, while operating expenses increased only slightly. For the fourth quarter 2010, the return on average assets was 0.61% while the return on average equity was 7.35%. Those percentages for the like period in 2009 were 0.76% and 10.51% respectively.

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