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 Earnings For The Quarter Ended June 30, 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 period ended June 30, 2011.

Net income for the quarter ending June 30, 2011 was $621,519 or $0.35 per share. Net income for the like period in 2010 was $715,816, or $0.41 per share. For the quarter ended June 30, 2011, the return on average assets was 0.63%, and the return on average equity was 7.58%, which compares to 0.72% and 8.98%, respectively, for the same period ended June 30, 2010.

The quarterly results reflect modestly improving interest margins and slightly lower operating expenses, offset by higher provision for loan losses and lower noninterest income. Noninterest income decreased $200,000 in the current period in comparison to 2010, primarily from a decrease in sales of loans to the secondary market, and an increase in losses on real estate owned.

For the six-month period ended June 30, 2011, net income was $1.4 million, or $0.82 per share. For the six-month period ended June 30, 2010, net income was approximately the same, but the earnings per share was $0.83 per share. The return on average assets for the six-month period ended June 30, 2011 was 0.73%, and the return on average equity was 8.78%. For the same six-month period in 2010, those corresponding numbers were 0.72% and 9.08%.

For year-to-year comparison for the six-month period ended June 30th the Corporation expensed $323,000 more for the provision for loan losses in 2011, which partially offset a $391,000 increase in net interest margin. There was a modest decrease in noninterest income between like periods for the primary reasons discussed on the quarterly results, and moderately higher noninterest expense in 2011.

Assets totaled $399.9 million as of June 30, 2011, an increase of approximately $5.5 million from the $394.4 million reported as of June 30, 2010, and a $13.3 million increase from the $386.6 million recorded as of December 31, 2010. Net loans, including loans held for sale, were $260.9 million as of June 30, 2011, a decrease of $10.4 million from the balance reported as of June 30, 2010 of $271.3 million, and a decrease of $5.6 million from the balance of $266.5 million reported as of December 31, 2010. As of June 30, 2011, deposits totaled $296.1 million, an increase of $7.5 million from the $288.6 million reported as of June 30, 2010 and a $9.8 million increase from the $286.3 million recorded 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 18,067.61 +37.40 0.21%
S&P 500 2,090.50 +8.62 0.41%
NASDAQ 4,799.8510 +26.3790 0.55%

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