Assets totaled $408.4 million as of June 30, 2012, an increase of approximately $8.5 million from the $399.9 million reported as of June 30, 2011, and a $1.8 million increase from the $406.6 million recorded as of December 31, 2011. Net loans, including loans held for sale, were $253.3 million as of June 30, 2012, a decrease of $7.6 million from the balance reported as of June 30, 2011 of $260.9 million, and an increase of $0.1 million from the balance of $253.2 million reported as of December 31, 2011. As of June 30, 2012, deposits totaled $305.5 million, an increase of $9.4 million from the $296.1 million reported as of June 30, 2011 and a $0.3 million increase from the $305.2 million recorded on December 31, 2011.Stockholders’ equity as of June 30, 2012 was $33.6 million, or 8.24% 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 $22.14. Total delinquent loans, defined as loans 30 days or more past due, as a percentage of total loans, were 2.42% as of June 30, 2012 and 3.91% as of June 30, 2011. That same indicator was 3.13% on March 31, 2012, and 4.28% as of December 31, 2011. As indicated by the percentages, longer-term delinquency (over 90 days) makes up all but 0.41% of the delinquency as of June 30, 2012. “There are still any number of drags on community banking, but our balance sheet and income statements are demonstrating we are 'winning the war.' The battle has always been about a glutted and depressed housing market, high unemployment, anemic loan demand, and troublesome personal finances. While there are significant obstacles yet to overcome in individual and personal situations, from the Corporation’s perspective, it appears that our perseverance is paying off,” stated Matthew P. Forrester, President of River Valley Bancorp. “Our profitability improved in the quarter and delinquency is demonstrating that problematic individual situations are improving as well. We are pleased to be performing at these levels given the localization of national economic problems. 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 16, 2012 was at $15.99.
|Selected Financial Information(Dollar amounts in thousands, except per share amounts)|
|3 Months Ended||3 Months Ended||6 Months Ended||6 Months Ended|
|Net Loans, including loans held for sale||253,269||260,909|
|Allowance for Loan Losses (ALL)||3,521||3,590|
|Borrowings and Advances||65,217||67,217|
|Total Interest Income||$4,235||$4,340||8,616||8,880|
|Total Noninterest Income||1,099||674||1,981||1,588|
|Provision for Loan Losses||322||374||796||848|
|Earnings per Basic Share||$0.40||$0.35||$0.73||$0.82|
|Diluted Earnings per Share||$0.40||$0.35||$0.73||$0.82|
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.