CMUV Announces Year End 2020 Financial Results

CMUV Bancorp reported strong unaudited year-end results for 2020, with earnings of $3,386,757, a 40% increase from 2019.

Rhea-AI Summary

CMUV Bancorp reported strong unaudited year-end results for 2020, with earnings of $3,386,757, a 40% increase from 2019. Total assets exceeded $260 million, while total loans rose to $208.7 million, a 28.8% increase. Total deposits increased to $207 million from $170 million year-over-year. Earnings per share reached $1.31, up 24% from $1.06. The bank maintained a solid capital leverage ratio of 10.34% and low non-accrual loans at 0.50%. A dividend of $1.1 million has been returned to shareholders over six quarters.

Positive

• Earnings for 2020 increased by 40% to $3,386,757.
• Total assets surpassed $260 million for the first time.
• Total loans grew by 28.8% to $208.7 million.
• Earnings per share rose 24% to $1.31.
• The bank has maintained a strong capital leverage ratio of 10.34%.
• Non-accrual loans remain low at 0.50%.

Negative

• None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

El Centro, CA, Jan. 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited year-end results for 2020. Earnings for the year ending 12/31/2020 were $3,386,757. This is a 40% increase over year-end 2019 results. Total Assets came in at $260 MM, marking the 1st time that the bank has surpassed the $250 MM threshold. Total loans reached $208.7 MM, a 28.8% increase over the ending numbers for 2019. Total Deposits increased from $170 MM at the end of 2019 to $207 MM at 12/31/2020.   Earnings per share for 2020 were $1.31, a 24% increase over the $1.06 per share earnings in 2019.

The Bank ended 2020 with a Community Bank Capital Leverage ratio of 10.34%. This is well above the ratio required to be considered a well-capitalized bank. Our Allowance for Loan and Lease Losses ended the year at $2,187,983 or 1.05% of total loans. Non-accrual and Past Due Loans remain very low at just 0.50%. As of 12/31/2020, there are no loans on deferral or modified payments. Board and Management believe the ALLL is fully funded at this time.

12/31/20 book value of the common stock was $11.58 per share (diluted). The common stock (CMUV) was trading at $9.35 as of December 31, 2020. ROAA for the year ending 12/31/2019 was 1.42% and ROAE came in at 13.83%.

The results delivered in 2020 are nothing short of phenomenal considering all that the bank endured through this horrific pandemic.  The strong year in 2020 allowed the bank to continue with the quarterly dividend started in 2019 and the Bancorp has now returned in excess of $1.1 MM back to its shareholders in the last 6 quarters.

We thank each of you for being a valuable shareholder in Your Community Valley Bank.

Jon A Edney
7603521189
mediarelations@yourcvb.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were CMUV Bancorp's earnings for 2020?

CMUV Bancorp reported earnings of $3,386,757 for 2020, a 40% increase over 2019.

How much did total assets increase for CMUV Bancorp?

Total assets for CMUV Bancorp increased to over $260 million in 2020.

What was the earnings per share (EPS) for CMUV in 2020?

The earnings per share for CMUV Bancorp in 2020 was $1.31, up from $1.06 in 2019.

What is the current trading price for CMUV stock?

As of December 31, 2020, CMUV stock was trading at $9.35.

How much has CMUV Bancorp returned to shareholders?

CMUV Bancorp has returned over $1.1 million to shareholders in the last six quarters.