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4/12 (RVVY.OB) River Valley Community Bank Posts Outstanding March 31, 2010 Financial Results

River Valley Community Bank

(PublicWire)River Valley Community Bank (OTCBB: RVVY), headquartered in Yuba City, California reported net income of $252,590 for the quarter ended March 31, 2010. This compares to $62,285 earned in the first quarter of 2009. This is the 11th consecutive quarterly profit for the Bank which opened in June of 2006. The sharp increase in net income primarily resulted from an improved Net Interest Margin (NIM) and increased Net Interest Income (NII) while non interest expense rose only nominally. The NIM improved to 4.40% from 3.53% in the first quarter a year ago while the NII increased to $1,031,058 from $808,141 in the corresponding quarter last year. The 2010 quarterly earnings included a gain on the sale of securities of $72,885 as we continue to reposition our investment portfolio to protect against a rising interest rate environment.

River Valley Community Bank

River Valley Community Bank


Total assets and deposits as of March 31, 2010 of $120,181,416 and $103,589,614 respectively, compared to $105,496,015 and $90,799,969 respectively, at the end of the corresponding quarter a year ago. Gross loans outstanding were at $41,234,008, a 17% increase over March 31, 2009. Investment securities ended the quarter at $50,436,733 and reflected an unrealized mark-to-market gain of $1,507,057. The Bank continues to focus on building a strong financial position; liquidity and capital remain strong. The Allowance for Loan and Lease Losses (ALLL) now totals $1,285,459; again we provided $150,000 during the quarter. This level of reserves is near the high end of our peer bank group and we believe it is prudent based on current economic conditions even though our loan portfolio is currently performing relatively well.

Improving Growth Pattern

John Jelavich, President and Chief Executive Officer commented, “Our improving growth pattern has been remarkably steady over the past several quarters in spite of a very weak economy. Clearly, the financial strength we have built, and the quality, professional service we provide has led to additional opportunities for the Bank. Successfully navigating through a weak economy and a national banking crisis to date has proven advantageous to us as we continue to develop new business from institutions that are troubled or have reputational issues.”

“Clearly, we anticipate ongoing success however there could be fluctuations in our financials going forward. We experience seasonal changes in deposits from a strong agricultural base that tend to peak near the end of the first quarter. Additionally, as the investment climate improves large depositors could redeploy assets. Finally, we are arguably the most efficiently operating bank of our era in California and we will invest in the necessary human resources and fixed assets to provide for future growth. Our future does appear bright,” Jelavich concluded.

River Valley Community Bank is located at 1629 Colusa Avenue, Yuba City, California. For more information please contact John Jelavich at 530-821-2460 or visit our website at: www.rivervalleycommunitybank.com.

Forward Looking Statements:

This document may contain comments and information that constitute forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such statements. Forward-looking statements speak only as to the date they are made. The Bank does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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