EL CENTRO, CA - (NewMediaWire) - July 22, 2022 - CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited 2nd quarter results for the quarter ending June 30, 2022. Net Income came in at $1,009,044. The net income number equaled $0.55 per share. Total assets reached $295 MM. Total deposits were at $256.9 MM. Gross loans surpassed $206.6 MM.

We ended the 2nd quarter 2022 with a Community Bank Leverage Capital ratio of 10.97%. This is well above the ratio required to be considered a well-capitalized bank. Our Allowance for Loan and Lease Losses ended the quarter at $2,369,670, or 1.14% of total loans. Non-accrual loans and Past Due loans remain very low at 0.91%. Both Board and Management believe the ALLL is fully funded at this time.

June 30, 2022 book value of the common stock was $13.89 per share (basic). The common stock (CMUV) was trading at $14.30 as of June 30, 2022. ROAA for the six months ending June 30, 2022 was 1.46% and ROAE came in at 13.93%

We are cautiously optimistic that in spite of increased inflation and interest rates, we will continue to see favorable financial results, increases in deposits, and satisfactory loan demand as we progress into the second half of 2022.

Jon A Edney
7603521889
mediarelations@yourcvb.com

 

 

Shareholder Financial Summary  
For Quarter End June 30, 2022    
         
                      June 30,
        2022     2021  
ASSETS      
  Cash & Cash Equivalents $ 72,659,712   $ 51,165,013  
  Total Investments   5,831,448     1,804,156  
  Total Loans, Net   204,248,090     211,418,336  
     Total Earning Assets $ 282,739,251   $ 264,387,505  
         
  Other Assets   12,297,973     11,665,045  
         
  TOTAL ASSETS $ 295,037,224   $ 276,052,550  
         
LIABILITIES    
  Deposits $ 256,882,344   $ 240,561,059  
  Total Borrowings & Other Debt Obligations   4,067,317     6,589,125  
  Other Liabilities   2,220,198     1,270,596  
    TOTAL LIABILITIES $ 263,169,859   $ 248,420,780  
         
SHAREHOLDER CAPITAL/EQUITY    
  Total Stock, Equity, Retained Earnings $ 29,791,527   $ 25,493,895  
  Net Income $ 2,075,838   $ 2,137,875  
    TOTAL EQUITY/CAPITAL $ 31,867,365   $ 27,631,770  
         
  TOTAL LIBILITIES & CAPITAL/EQUITY $ 295,037,224   $ 276,052,550  
         
         
STATEMENT OF INCOME AND EXPENSE    
  Total Interest Income $ 5,568,452   $ 5,823,297  
  Total Interest Expense   (355,250 )   (411,725 )
    NET INTEREST INCOME $ 5,213,202   $ 5,411,571  
         
  Total Other Non-Interest Income $ 782,600   $ 527,312  
  Total Non-Interest Expenses $ (3,081,238 ) $ (2,933,053 )
  Provision for Loan Loss   -     -  
         
    INCOME BEFORE TAXES $ 2,914,564   $ 3,005,830  
         
  Income Tax Expense $ (838,726 ) $ (867,955 )
         
NET INCOME $ 2,075,838   $ 2,137,875  
         
RATIOS      
  Return on Average Assets (ROAA)   1.46 %   1.60 %
  Return on Average Equity (ROAE)   13.93 %   16.72 %
  Earnings Per Share (Basic) $ 1.12   $ 0.93  
  Total Shares (Oustanding/Exercised)   1,858,951     2,296,264  
  Book Value $ 13.89   $ 12.04  

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