El Centro, CA - (NewMediaWire) - October 21, 2022 - CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited 3rd quarter results for the quarter ending September 30, 2022. During the 3rd Quarter, net income totaled $1,039,959, which put year-to-date net income at $3,115,797 through the first nine months of the year. The net income for 3rd quarter equaled $0.56 per share. Also at the end of 3rd quarter 2022, total assets were $276.7 MM, total deposits came in at $237.7 MM, and gross loans were at $211 MM.

We ended the 3rd quarter 2022 with a Community Bank Leverage Capital ratio of 11.24%, which puts the Bank 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 1.20% of total loans, excluding guaranteed portion of loans. Non-accrual loans remain very low at 0.88%. Both Board and Management believe the ALLL is fully funded at this time.

The September 30, 2022 book value of the common stock was $14.31 per share (diluted), while the common stock (CMUV) was trading at $14.10 as of the same date. ROAA through the 3rd quarter of 2022 was 1.45%, while ROAE came in at 13.90%.

As we celebrate our 15th Anniversary this month, we are very appreciative and grateful to all of you who have supported your locally owned community bank.

Jon A Edney

mediarelations@yourcvb.com

View the original release on www.newmediawire.com

Shareholder Financial Summary    
For Quarter End September 30, 2022    
           
           
      September 30,  
        2022     2021    
ASSETS      
  Cash & Cash Equivalents $ 49,282,886   $ 53,063,943    
  Total Investments   6,563,192     1,781,721    
  Gross Loans   211,049,790     206,136,340    
  ALLL   (2,357,659 )   (2,233,030 )  
     Total Earning Assets $ 264,538,209   $ 258,748,974    
           
  Other Assets   12,127,821     11,870,551    
           
  TOTAL ASSETS $ 276,666,030   $ 270,619,525    
      $ -      
LIABILITIES      
  Deposits $ 237,660,261   $ 233,815,785    
  Total Borrowings & Debt Obligations   5,270,275     6,019,914    
  Other Liabilities   1,062,138     1,480,650    
    TOTAL LIABILITIES $ 243,992,675   $ 241,316,349    
           
SHAREHOLDER CAPITAL/EQUITY      
  Total Stock, Equity, Retained Earnings $ 29,557,558   $ 25,161,372    
  Net Income $ 3,115,797   $ 4,141,804    
    TOTAL EQUITY/CAPITAL $ 32,673,355   $ 29,303,176    
           
  TOTAL LIBILITIES & CAPITAL/EQUITY $ 276,666,030   $ 270,619,525    
           
           
           
           
STATEMENT OF INCOME AND EXPENSE      
  Total Interest Income $ 8,697,679   $ 9,568,900    
  Total Interest Expense   (616,505 )   (581,460 )  
    NET INTEREST INCOME $ 8,081,175   $ 8,987,440    
           
  Total Other Non-Interest Income $ 977,092   $ 1,246,878    
  Total Non-Interest Expenses $ (4,684,186 ) $ (4,395,922 )  
  Provision for Loan Loss   -     -    
           
    INCOME BEFORE TAXES $ 4,374,081   $ 5,838,396    
      $ -      
  Income Tax Expense $ (1,258,284 ) $ (1,696,592 )  
           
NET INCOME $ 3,115,797   $ 4,141,804    
           
           
RATIOS      
  Return on Average Assets (ROAA)   1.45 %   2.04 %  
  Return on Average Equity (ROAE)   13.90 %   21.56 %  
  Earnings Per Share (Basic) - 3rd Quarter $ 0.56   $ 0.91    
  Earnings Per Share (Basic) - YTD $ 1.68   $ 1.88    
  Total Shares (Oustanding/Exercised)   1,859,481     2,208,120    
  Book Value $ 14.31   $ 13.33