This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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 Financial Results For The Quarter Ended September 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 third quarter ended September 30, 2011.

Due to continued downward pressure on real estate values and individuals’ economic problems, the Corporation provided a $1.4 million provision for loan losses, and recorded another $534,000 write down on real estate owned during the third quarter. The net effect was a loss of $207,145, or $(0.20) expressed as basic earnings (loss) per share, for the quarter ended September 30, 2011. Net income for the quarter ended September 30, 2010 was $291,475, or $0.13 expressed as basic earnings per share. For the current period ended September 30, 2011, recent appraisals indicated a substantive decline in collateral value on certain classified assets and property held by the Corporation as other real estate owned. For assets held in other real estate owned, a write down of values is accounted for through the income statement, and directly impacts other income. With the exception of those factors previously discussed, and a modest increase in operating expenses, most of which relates to expenses associated with property held for sale, other operating indicators, including interest margins, reflected improvement over the previous year quarter. The return on average assets for the three month period ended September 30, 2011 was -0.21% and the return on equity was -2.48%. Those respective ratios were 0.30% and 3.56% for the like period in 2010.

Net income for the nine-month period ended September 30, 2011 was $1,216,334, or $0.62 per basic share. This represents a decrease of $509,932 from the $1,726,266, or $0.96 per basic share, recorded for the same period ended September 30, 2010. As stated previously, this decrease is primarily attributable to additional provision expense and valuation determinations of real estate owned in the third quarter of 2011. The return on average assets for the nine-month period ended September 30, 2011 was 0.41% and the return on average equity was 4.95%. Those respective ratios were 0.58% and 7.19% for the like period in 2010.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,612.39 -60.21 -0.34%
S&P 500 2,042.25 -9.57 -0.47%
NASDAQ 4,737.5550 -20.3240 -0.43%

Partners Compare Online Brokers

Free Reports

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