Welcome to our dedicated page for River Valley news (Ticker: RVCB), a resource for investors and traders seeking the latest updates and insights on River Valley stock.
River Valley Community Bancorp reports community banking results and capital actions alongside its wholly owned subsidiary, River Valley Community Bank. Company news commonly covers unaudited quarterly and annual financial results, regular cash dividends, common-stock repurchase authorization, and capital management updates for the OTC-traded bank holding company.
The company’s updates also describe its market presence across Northern California and a Reno loan production office, including Roseville expansion, business development hires, and board appointments. Its recurring operating narrative centers on local banking products, services, and banking technology for the bank’s customer base.
River Valley Community Bancorp (RVCB) announced its financial results for Q1 2022, reporting total assets of $574.8 million, down from $600.8 million in Q4 2021. Net income was $1.1 million, or $0.36 per diluted share, a decrease from $1.4 million in the previous quarter. Total gross loans decreased by 0.8% to $248.6 million, while total deposits fell 3.3% to $530.0 million. The Bank had no non-performing assets, but faced a decline in net interest income, attributed to reduced PPP fee income.
River Valley Community Bancorp (OTC: RVCB) reported robust financial results for the quarter ending December 31, 2021. Total assets reached $600.8 million, up 21% year-over-year. Net income was $1.4 million, with diluted earnings per share at $0.44. The annual net income grew by 28% to $5.4 million, while net interest income increased 12.3% to $15.9 million. Deposits also surged 23.1% to $548 million. However, total loans decreased by 2.7% due to PPP loan payoffs, although core loans grew significantly. The company is optimistic about the future, planning to open a loan office in Reno, NV.
River Valley Community Bancorp (RVCB) announced its financial results for Q3 2021, reporting a net income of $1.4 million or $0.56 per diluted share, up from $1.3 million in Q3 2020. The Bank's total assets were $527.7 million, reflecting a decrease from $531.1 million year-over-year. A five-for-four stock split was approved to enhance liquidity, with shares issued on November 1, 2021. Notably, total loans decreased by 7.6% year-over-year, while total deposits rose by 18.6%. The Bank maintains strong core deposit growth, aiding in reduced interest expenses.
River Valley Community Bancorp (RVCB) announced its financial results for Q2 2021, reporting net income of $1.3 million or $0.53 per diluted share, up from $652,000 or $0.27 per diluted share a year earlier. Total assets reached $503.3 million, slightly down from $514.8 million in Q2 2020. The bank's net interest income rose 11.9% year-over-year to $3.9 million. Additionally, they launched a stock repurchase plan up to $1 million to enhance shareholder value and liquidity. CEO John M. Jelavich expressed optimism despite potential pressure from flat yield curves and supply chain challenges.
River Valley Community Bancorp (RVCB) has appointed Kevin Reynolds, CPA, as the new Executive Vice President and Chief Financial Officer. Reynolds will lead the Bank's Accounting & Finance department, focusing on cash management, capital planning, and financial forecasting. Previously, he spent eight years at Moss-Adams LLP, managing audit engagements for banks and credit unions. CEO John M. Jelavich expressed confidence in Reynolds' expertise to support the bank's growth. Reynolds noted the Bank's strong foundation and readiness for future growth.
River Valley Community Bancorp (RVCB) reported its financial results for Q1 2021, with total assets rising to $506.9 million, up from $496.5 million in Q4 2020 and $468.7 million in Q1 2020. Net income was $1.2 million or $0.51 per diluted share, down from $1.4 million in Q4 2020 but up from $748,000 in Q1 2020. Net interest income slightly decreased to $3.8 million compared to $3.9 million in the previous quarter. Total deposits increased by 2.9% to $457.9 million. The bank's loan portfolio saw modest growth, with less reliance on PPP loans.