This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: RIVR

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.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs