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 Best Financial Quarter In Its Existence For The Quarter Ended September 30, 2012

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 quarter ended September 30, 2012.

Net income for the quarter ended September 30, 2012 is a historic high and reflects the highest dollar amount recorded since our incorporation and establishment as a publicly traded entity in 1996. The Corporation reported net income of $845,796, or $0.50 per share. Net income for the like period in 2011 was a reported loss of $207,145, or $(0.20) per share. The return on average assets for the three-month period ended September 30, 2012 was 0.82% and the return on average equity was 9.74%. Those respective ratios were (0.21)% and (2.48)% for the like period in 2011.

The September 30, 2012 quarter reflects significantly higher non-interest income from the sale of loans in the secondary market. It also reflects gains from the sale of certain investment securities due to increasing interest rate and credit risks. The quarter also reflects significantly lower provision for loan loss and disposition costs of real estate owned, $268,000 and $172,000 respectively. For the like quarter in 2011, 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. Total noninterest expense, otherwise known as operating expenses, were higher in 2012 due to continued acquisition expenses, general increases in employee expense, and monies paid on behalf of delinquent borrowers for property taxes and insurance. Likewise, taxes were higher in the 2012 quarter on earned income, where in the like period in 2011, there was a tax benefit.

Net income for the nine-month period ended September 30, 2012 was $2,129,448, or $1.23 per basic share. This represents an increase of $913,114, or a 75% increase from the $1,216,334, or $0.62 per basic share, recorded for the same period ended September 30, 2011. As stated previously, this increase is primarily attributable to lower 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, 2012 was 0.70% and the return on average equity was 8.37%. Those respective ratios were 0.41% and 4.95% for the like period in 2011.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • 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