Stockholders’ equity as of June 30, 2011 was $33.0 million, or 8.25% as expressed as a percentage of assets. The Bank comfortably exceeds the three regulatory capital standards designated as “well capitalized.” Reported book value of shares, including preferred shares, was $21.71.Total delinquent loans, defined as loans 30 days or more past due, as a percentage of total loans, were 3.91% as of June 30, 2011 and 4.26% as of June 30, 2010. That same indicator was 4.59% as of December 31, 2010. As indicated by the percentages, longer-term delinquency (over 90 days) makes up all but 0.96% of the delinquency as of June 30, 2011. “It seems that we necessarily, but gratefully, keep reporting nearly the same message. The ongoing economic news and all the ramifications associated with a struggling economy continue to be a drag on community banking. Our fundamentals are strong, but the noise associated with a glutted and depressed housing market, high unemployment, and anemic loan demand are keeping the industry in flux,” stated Matthew P. Forrester, President of River Valley Bancorp. “We are pleased to be performing at these levels given the headwinds that sweep across the country. Soon, we hope, the economic environment will allow individuals’ circumstances to improve, which will facilitate general improvements in activity, and lift all perspectives and purposes. Until then, we celebrate the successes, knowing that we are positioned for that better day.” The last reported trade of “RIVR” stock on July 18, 2011 was at $17.12.
|Selected Financial Information|
|(Dollar amounts in thousands, except per share amounts)|
|3 Months Ended||6 Months Ended||6 Months Ended|
|Net Loans, including Loans held for Sale||260,909||271,298|
|Allowance for Loan Losses (ALL)||3,590||2,388|
|Borrowings and Advances||67,217||72,217|
|Total Interest Income||$||4,340||8,880||9,458|
|Total Noninterest Income||673||1,588||1,651|
|Provision for Loan Losses||374||848||525|
|Earnings per Basic Share||$||0.35||$||0.82||$||0.83|
|Diluted Earnings per Share||0.35||0.82||0.83|
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include expressions such as "expects," "intends," "believes," and "should," which are necessarily statements of belief as to the expected outcomes of future events. Actual results could materially differ from those presented. The Corporation's ability to predict future results involves a number of risks and uncertainties, some of which have been set forth in the Corporation's most recent annual report on Form 10-K filed with the Securities and Exchange Commission. The Corporation undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release.