Sign In  |  Register  |  About Pleasanton  |  Contact Us

Pleasanton, CA
September 01, 2020 1:32pm
7-Day Forecast | Traffic
  • Search Hotels in Pleasanton

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

CMUV Bancorp Announces 2023 3rd Quarter Financial Results

EL CENTRO, CA - (NewMediaWire) - October 20, 2023 - CMUV Bancorp, the holding company for Community Valley Bank (CVB), is pleased to announce unaudited 3rd Quarter results as of September 30, 2023. During the 3rd quarter, net income totaled $991,000, which brought year-to-date net income to $2,873,863 through the first nine months of the year. Net income for 3rd quarter equaled $0.54 per share. Also, at the end of 3Q 2023, total assets were $294.5 MM, total deposits were $258 MM, and gross loans were at $222 MM.


We ended the third quarter 2023 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. The new regulatory metric for the reserve on loans, Allowance for Credit Losses (ACL), was $2,447,223, or 1.20% of total loans, excluding guaranteed portion of loans. In addition, non-accrual loans remain very low at 0.75%. Both the Board and Management believe the ACL is fully funded at this time.

The September 30, 2023 book value of the common stock was $15.79 per share (diluted), while the common stock (CMUV) was trading at $14.50 as of the same date. ROAA through the third quarter of 2023 was 1.31%, while ROAE came in at 11.74%.

 

Shareholder Financial Summary  
For Quarter End September 30, 2023  
      
   Sept 30 , 2023Sept 30 , 2022 
ASSETS   
 Cash & Cash Equivalents$52,443,464 $49,282,886  
 Total Investments 7,436,640 $6,563,192  
 Gross Loans 222,266,223 $211,049,790  
 ACL (2,447,223) (2,357,659) 
   Total Earning Assets$279,699,104 $264,538,209  
      
 Other Assets 14,776,313 $12,127,821  
      
 TOTAL ASSETS$294,475,417 $276,666,030  
      
LIABILITIES   
 Deposits$258,001,925 $237,660,261  
 Total Borrowings & Debt Obligations 2,057,776 $4,053,510  
 Other Liabilities 757,385 $2,278,903  
  TOTAL LIABILITIES$260,817,087 $243,992,675  
      
SHAREHOLDER CAPITAL/EQUITY   
 Total Stock, Equity, Retained Earnings$31,784,467 $29,557,558  
 Net Income$2,873,863 $3,115,797  
  TOTAL EQUITY/CAPITAL$34,658,330 $32,673,355  
      
 TOTAL LIBILITIES & CAPITAL/EQUITY$295,475,417 $276,666,030  
      
      
   Sept 30 , 2023Sept 30 , 2022 
STATEMENT OF INCOME AND EXPENSE   
 Total Interest Income$11,580,565 $8,697,679  
 Total Interest Expense (2,886,304) (616,505) 
  NET INTEREST INCOME$8,694,261 $8,081,175  
      
 Total Other Non-Interest Income$589,905 $977,092  
 Total Non-Interest Expenses$(5,263,502)$(4,684,186) 
 Provision for Loan Loss (45,600) -  
      
  INCOME BEFORE TAXES$3,975,064 $4,374,081  
      
 Income Tax Expense$(1,101,201)$(1,258,284) 
      
NET INCOME$2,873,863 $3,115,796  
      
      
FINANCIAL RATIOS   
 Return on Average Assets (ROAA) 1.31% 1.45% 
 Return on Average Equity (ROAE) 11.74% 13.90% 
 Earnings Per Share (Basic) - Quarterly Earnings$0.54 $0.56  
 Earnings Per Share (Basic) - YTD$1.57 $1.68  
 Total Shares (Outstanding/Exercised) 1,830,647  1,859,481  
 Book Value (CVB - Bank)$18.93 $17.57  
 Book Value (CMUV - Holding Company)$15.79 $14.31  
      

 

Contact: Jon A. Edney, President/CEO

Phone (760) 352-1889, mediarelations@yourcvb.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photography by Christophe Tomatis
Copyright © 2010-2020 Pleasanton.com & California Media Partners, LLC. All rights reserved.