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River Valley Community Bancorp Announces 5-for-4 Stock Split and 3rd Quarter Results (Unaudited)
River Valley Community Bancorp Announces 5-for-4 Stock Split and 3rd Quarter Results (Unaudited).
About this update from River Valley Community Bancorp
[{"type":"text","content":"\n YUBA CITY, Calif., Oct. 19, 2021 (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 September 30, 2021. Concurrent with the announcement of third quarter earnings, the Company’s Board of Directors approved a five-for-four split of the Company’s common stock (the “Split”). One of the primary purposes of the Split is to enhance the liquidity of the stock by making more shares available to all shareholders. Each shareholder of record at the close of business on October 29, 2021 will receive five shares for each four outstanding shares held on that record date. The shares relating to the Split will be issued and delivered to shareholders by electronic registration in the Direct Registration System (DRS) and a statement will be soon issued from the Bank’s transfer agent, Computershare Trust Co., reflecting the delivery of the shares. Beneficial shareholders who hold their shares in an account with a broker or other intermediary should expect to have their accounts updated to reflect the Split in accordance with the applicable intermediary's usual procedures. The Bank will not issue fractional shares as a result of the Split. In lieu thereof, each shareholder who would otherwise be entitled to receive a fractional share as a result of the Split will receive from the Bank, in cash, the fair value of such a fractional share. The Bank anticipates that trading will begin on a split-adjusted basis on November 1, 2021. In connection with the Split the below consolidated financial information presents per share data on both a pre-split and post-split basis. Consolidated financial highlights: Total assets totaled $527.7 million as of September 30, 2021, compared to $531.1 million as of September 30, 2020, and $503.3 million as of June 30, 2021.Net income for the quarter ended September 30, 2021, totaled $1.4 million or $0.56 per diluted share (pre-split) compared to $1.3 million or $0.54 per diluted share for the quarter ended September 30, 2020, and $1.3 million or $0.53 per diluted share (pre-split) for the quarter ended June 30, 2021.Net interest income totaled $4.0 million for the quarter ended September 30, 2021, com...