Business
River Valley Community Bancorp Announces 4th Quarter and Annual Results (Unaudited); Opens Reno, Nevada Loan Production Office
River Valley Community Bancorp Announces 4th Quarter and Annual Results (Unaudited); Opens Reno, Nevada Loan Production Office.
About this update from River Valley Community Bancorp
[{"type":"text","content":"\n YUBA CITY, Calif., Jan. 18, 2022 (GLOBE NEWSWIRE) -- River Valley Community Bancorp (OTC markets: RVCB) with its wholly owned subsidiary, River Valley Community Bank (collectively referred to as the “Bank”), today announced financial results for the quarter ended December 31, 2021. Consolidated financial highlights: Total assets ended the year at $600.8 million as of December 31, 2021, compared to $496.5 million as of December 31, 2020, and $527.7 million as of September 30, 2021. Total assets grew 21.0% during the year ended December 31, 2021.Net income for the quarter ended December 31, 2021, totaled $1.4 million or $0.44 per diluted share compared to $1.3 million or $0.46 per diluted share for the quarter ended December 31, 2020, and $1.4 million or $0.45 per diluted share for the quarter ended September 30, 2021. Net income for the year ended December 31, 2021, was $5.4 million or $1.73 per diluted share, which increased 28.0% from the previous year.Net interest income totaled $4.2 million for the quarter ended December 31, 2021, compared to $3.9 million for the quarter ended December 31, 2020, and $4.0 million for the quarter ended September 30, 2021. Net interest income for the year ended December 31, 2021, was $15.9 million which is an increase of 12.3% from the year ended December 31, 2020. Selected Consolidated Financial Information - Unaudited(dollar amounts in thousands, except per share data)             As of  Dec 31, Sep 30, Jun 30, Mar 31, Dec 31,  2021 2021 2021 2021 2020           Total investment securities $       227,775 $      200,099 $      171,710 $      169,698 $      168,939Total loans, gross 250,670 243,689 258,816 258,504 257,740PPP loans (non-core) 3,939 10,307 26,136 42,383 45,279Total loans, excluding PPP 246,731 233,382 232,680 216,121 212,461Allowance for loan losses (3,513) (3,362) (3,362) (3,362) (3,470)Total assets 600,849 527,734 503,298...