This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs