CMUV Bancorp Announces 2024 4th Quarter Financial Results

CMUV Bancorp / US9029733048

CMUV Bancorp


31-Jan-2025 / 19:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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EL CENTRO, CA - January 31, 2025 (NEWMEDIAWIRE) - CMUV Bancorp, the holding company for Community Valley Bank (“CVB”), is pleased to announce unaudited year-end results for 2024. Earnings for the year ending December 31, 2024, were $4,156,350. CVB’s Total Assets grew to $311 MM at fiscal year-end 2024, with Gross Loans ending at just short of $263 MM. Deposits also increased to $271 MM.  Earnings per share for 2024 were $2.38. CVB ended 2024 with a Community Bank Capital Leverage ratio of 12.0%, well above the ratio threshold required to be considered a well-capitalized bank. Our Allowance for Credit Losses ended the year at $2,710,837, or 1.04% of total loans, and Non-Accrual and Past Due Loans remain very low at less than 0.02%. CVB’s Board of Directors and Management believe the ACL is fully funded at this time.  ROAA was 1.36% and ROAE was at 12.17% for the year ending December 31, 2024. We thank each of you for being a valuable shareholder in your Community Valley Bank!

Community Valley Bank / CMUV Bancorp
Financial Summary
For Quarter Ending December 31, 2024
BALANCE SHEET			December 31, 2024			December 31, 2023
	ASSETS
	Cash & Cash Equivalents		$	28,472,322		$	45,198,375
	Total Investments			7,191,513			7,426,100
	Gross Loans			262,932,710			231,924,633
	ACL			(2,710,837)			(2,534,087)
		Total Earning Assets	$	295,885,707		$	282,015,021
	Other Assets			15,481,678		$	15,025,617
	TOTAL ASSETS		$	311,367,385		$	297,040,638
LIABILITIES
	Deposits		$	270,934,149		$	259,604,962
	Total Borrowings & Debt Obligations			2,003,400			2,043,630
	Other Liabilities			896,329			670,975
		TOTAL LIABILITIES	$	273,833,877		$	262,319,567
SHAREHOLDER CAPITAL/EQUITY
	Total Stock, Equity, Retained Earnings		$	33,377,158		$	30,716,328
	Net Income		$	4,156,350			4,004,744
		TOTAL EQUITY/CAPITAL	$	37,533,507		$	34,721,071
	TOTAL LIABILITIES & CAPITAL/EQUITY		$	311,367,385		$	297,040,638
STATEMENT OF INCOME AND EXPENSE
			December 31, 2024			December 31, 2023
	Total Interest Income		$	17,885,742		$	15,927,961
	Total Interest Expense			(5,188,631)		$	(4,033,266)
		NET INTEREST INCOME	$	12,697,111		$	11,894,695
	Total Other Non-Interest Income		$	911,349			$838,567
	Total Non-Interest Expenses		$	(7,564,023)		$	(7,065,385)
	Provision for Loan Loss			(210,948)		$	(135,600)
		INCOME BEFORE TAXES	$	5,833,490		$	5,532,277
	Income Tax Expense		$	(1,677,141)		$	(1,527,533)
	NET INCOME		$	4,156,350		$	4,004,744
FINANCIAL RATIOS
	Return on Average Assets (ROAA)			1.36%			1.37%
	Return on Average Equity (ROAE)			12.17%			12.37%
	Net Income - Quarter			$1,063,184			$1,130,729
	Earnings Per Share (Basic) - Quarter			$0.61			$0.64
	Earnings Per Share (Basic) - YTD			$2.38			$2.26
	Total Shares (Oustanding/Exercised)			1,746,622			1,772,422
	Book Value - Basic (CVB - Bank)			$21.49			$19.59
	Book Value - Basic (CMUV - Holding Company)			$17.79			$16.15
** Book Value = Total Equity-Capital/Total Shares (Exercised)

Contact:
Jon A Edney
7603521889
[e-mail]  

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Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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End of Announcement - EQS News Service 2079249  31-Jan-2025