Community Valley Bank Announces 2012 Third Quarter Performance Results

Community Valley Bank Announces 2012 Third Quarter Performance Results

EL CENTRO, Calif.--(BUSINESS WIRE)-- Robert "Bob" Hahn, President and CEO of Community Valley Bank (OTCBB: CMUV), announced the Bank ended a profitable third quarter on September 30, 2012. The bank earned $158,000 at quarter end and total assets were $95.2 million, compared to $79.9 million during the same period last year.

Community Valley Bank (CVB) grew its deposits to $83.2 million, up from $68.3 million on September 30, 2011, a 22 percent increase in one year. CVB has grown in assets, loans, and deposits for nineteen consecutive quarters.


Total assets ending September 30, 2012 were $95.2 million, gross loans expanded to $75.5 million and total deposits reached $83.2 million. Year over year asset growth was 19%, loan growth increased 35% and growth in deposits were at 22%.

"As we celebrate our 5th anniversary, Community Valley Bank is proud to announce its seventh consecutive quarter of profitability. CVB's earnings for year to date ending September 30, 2012 were $326,000," says Hahn. "To date we have built a staff of 25 full-time jobs, made over 250 loans representing almost 125,000,000 in primarily business, SBA and USDA credit available in our community," Hahn adds.

CVB retains a tier one leverage capital ratio of 11.45 percent, which exceeds the Federal Deposit Insurance Corporation's (FDIC) regulatory requirement. To be considered well-capitalized, a bank must exceed 10 percent. The book value of our common stock was $5.21 per share.

About Community Valley Bank: Community Valley Bank (www.yourcvb.com) is the Imperial Valley's ONLY locally owned and locally headquartered bank. CVB was chartered as a state bank for Imperial Valley businesses on October 1, 2007, and now has two locations, 1443 Main Street in El Centro and 310 Main Street in Brawley, California.

Community Valley Bank is a publicly traded company under the symbol CMUV. All investor related inquiries should be directed to Community Valley Bank's Chief Financial Officer, Toni Umphreyville at (760) 352-1889.

September 30, 2011

December 31, 2011

September 30, 2012

Consolidated Financial Condition Data

Assets

Loans receivable - net

$

54,816,000

$

53,956,000

$

74,194,000

Cash and cash equivalents

19,043,000

26,194,000

12,436,000

Investment Securities

509,000

509,000

1,215,000

Federal Home Loan Bank Stock

252,000

252,000

283,000

Other Assets

5,296,000

5,654,000

7,099,000

Total Assets

$

79,916,000

$

86,565,000

$

95,227,000

Liabilities

Deposits

68,327,000

74,888,000

83,291,000

Other Liabilities

1,201,000

1,126,000

1,085,000

Total Liabilities

69,528,000

76,014,000

84,376,000

Preferred Stock

2,400,000

2,400,000

2,400,000

Common Stock

14,267,000

14,267,000

14,271,000

Surplus

496,000

496,000

497,000

Total Undivided Profits

(6,788,000

)

(6,625,000

)

(6,331,000

)

Unrealized Gain/Loss

13,000

13,000

14,000

Stockholder's Equity - net

10,388,000

10,551,000

10,851,000

Total Liabilites and Shareholder Equity

$

79,916,000

$

86,565,000

$

95,227,000

September 30, 2011

December 31, 2011

September 30, 2012

Selected Consolidated Earnings Data

Total Interest Income/Fees

$

2,737,000

$

3,720,000

$

3,328,000

Total Interest Expense

(416,000

)

(586,000

)

(505,000

)

Net Interest Income

2,321,000

3,134,000

2,823,000

Provision For Losses on Loans

(515,000

)

(540,000

)

(170,000

)

Net Interest Income Afer Provision For Losses on Loans

1,806,000

2,594,000

2,653,000

Total Other Income (Noninterest Income)

1,169,000

1,398,000

480,000

General Administrative and Other Expenses

(2,679,000

)

(3,513,000

)

(2,806,000

)

Income Tax Expense (Benefit)

0

0

0

Net Profit/Loss Year To Date

$

296,000

$

479,000

$

327,000



Community Valley Bank
Robert "Bob" Hahn, Chief Executive Officer
(760) 352-1889
mediarelations@yourcvb.com

KEYWORDS: United States North America California

INDUSTRY KEYWORDS:

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