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River Valley Bancorp Announces 11.5% Increase In Earnings For The Quarter Ended March 31, 2011

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 first quarter ended March 31, 2011.

Net income for the quarter was $801,961, an increase of $82,987 or 11.5%, from the $718,974 reported for the quarter ended March 31, 2010. Earnings per share for the quarter ended March 31, 2011 was $0.47 per share. For the same period in 2010, earnings per share were $0.42. For the quarter ended March 31, 2011, return on average assets was 0.83% and the return on average equity was 10.01%, which compares to 0.73% and 9.18%, respectively for the period ended March 31, 2010.

The quarterly results reflect improving interest margins and higher non-interest income. These increases were partially offset by increased funding for the provision for loan losses, nominally higher operating expenses, and correspondingly higher income tax expense. For the quarter ended March 31, 2011, the Corporation expensed $309,000 more than the like period in 2010 for the provision for loan losses.

Assets totaled $387.0 million as of March 31, 2011, a decrease of $8.2 million from the balance reported on March 31, 2010, and approximately a $0.4 million increase from the balance reported as of December 31, 2010. Net loans, including loans held for sale, were $260.6 million as of March 31, 2011, a decrease of $12.7 million from $273.3 million as of March 31, 2010 and a decrease of $6.0 million from December 31, 2010. Deposits totaled $288.7 million as of March 31, 2011, an increase of $6.4 million from March 31, 2010, and an increase of $2.3 million from the amount reported as of December 31, 2010. The Corporation has diligently repaid borrowings, thereby decreasing asset size, to effectively match off deposit growth and a drop in loan demand. As of March 31, 2011, the Corporation had $ $62.2 million in outstanding borrowings and advances, $16.0 million less than on March 31, 2010, and $3.0 million less than on December 31, 2010.

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