Community Valley Bank Celebrates Its 10th Anniversary with Record Earnings

CMUV Bancorp is pleased to announce 3rd quarter results (unaudited) for Community Valley Bank. Pre-tax earnings were $694,424 for the quarter, providing year to date 2017 pre-tax earnings of $2,098,557. This represents a 22% increase over pre-tax earnings for the 09/30/16 quarter. Total assets as of 09/30/17 were $159.6 MM and total loans ended the 3rd quarter at $125.5 MM. Total deposits ended at $ 138.9 MM.

For the 3rd quarter 2017, CVB had an after tax profit of $410,045 or $0.18 per share. The after tax profit year to date per share is $0.56. Year to date net income is $1,266,057 at 09/30/17. This is a 20% increase over the first 3 quarters of 2016. Both pretax revenue and net income are records for CVB for all first three quarters of any fiscal year. The Leverage Capital Ratio ended at 11.48%, with a Total Capital Ratio of 16.33%. This is well above the ratios required to be considered a well-capitalized bank.

Year to date Return on Average Assets through 09/30/17 was 1.063%, and year to date Return on Average Equity was 9.831% for the same period. Allowance for Loan and Lease Losses ended the quarter at $1,602,782 or 1.28% of total loans. Loan quality remains stable with non-performing and delinquent loans at less than 0.54% of total loans. Board and Management believe the ALLL is fully funded at this time.

The September 30, 2017 tangible book value of the common stock was $8.51 (diluted) per share. The common stock (CMUV) was trading at $8.30 as of September 30, 2017, which has increased by about 40%, year over year from the 09/30/16 price of $5.95.

This is a milestone month for Community Valley Bank, as the Bank celebrates its 10th anniversary. The entire CVB Team continues to do their best to earn the trust of their customers with efficient and professional service. Thank you to all our shareholders and a special thank you to those of you who have been with CVB since day one.

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