Community Valley Bank Announces Profitable 2012 Performance Results and Solid Growth

EL CENTRO, Calif.--()--Robert “Bob” Hahn, President and CEO of Community Valley Bank (OTCBB: CMUV), recently announced Community Valley Bank’s (CVB) year-end results for 2012. CVB showed solid growth in both earnings and assets. Deposits grew to $90.0 million, gross loans rose to $80.6 million while total assets reached $108.6 million.

Community Valley Bank earned $295,000 in the fourth quarter. The result is a 2012 profit of $621,000. This is a 30% increase from year-end 2011. The Bank funded $540,000 into CVB’s Allowance for Loan and Lease Losses reaching $1,434,000 or 1.78% of gross loans. CVB is continuing to aggressively review its loan risks while growing loan assets in a challenging economy.

The book value of CVB’s common stock (CMUV) is $5.40 per share with market value at year-end of $5.00 per share. CVB tier one leverage capital ratio was 11.36%, exceeding the regulatory ratio required for designation as a “well-capitalized bank.”

CVB has become the bank of businesses in Imperial County and beyond. With a large array of loan products including SBA and USDA loan programs it continues to provide area businesses with the largest selection of banking opportunities addressing all their banking needs. CVB welcomes new loans and deposit accounts.

“We expect continued growth and success moving into the New Year,” notes Hahn, CVB’s Chief Executive Officer. “In our continuing efforts to increase shareholder value, we will be opening a Loan Production office serving the Coachella Valley area in the first quarter of 2013. We again thank you for supporting CVB, the only locally owned and locally managed community bank in the entire Imperial County, “ Hahn adds.

About Community Valley Bank: Community Valley Bank ( is the Imperial Valley’s ONLY locally owned and locally headquartered bank. CVB was chartered as a state bank for Imperial Valley businesses on October 1, 2007, and now has two locations, 1443 Main Street in El Centro and 310 Main Street in Brawley, California.

Community Valley Bank is a publicly traded company under the symbol CMUV. All investor related inquiries should be directed to Community Valley Bank’s Chief Financial Officer, Toni Umphreyville at (760) 352-1889.

December 31, 2012 December 31, 2011
Consolidated Financial Condition Data
Loans receivable - net $ 79,195,000 $ 53,956,000
Cash and cash equivalents 21,628,000 23,798,000
Investment Securities 1,003,000 509,000
Federal Home Loan Bank Stock 283,000 252,000
Other Assets 6,565,000 8,031,000
Total Assets $ 108,674,000   $ 86,546,000  
Deposits 90,340,000 74,729,000
Borrowings (FHLB) 6,000,000 0
Mortgage Indebtedness 744,000 972,000
Other Liabilities 446,000 294,000
Total Liabilities 97,530,000   75,995,000  
Preferred Stock 2,400,000 2,400,000
Common Stock 14,271,000 14,255,000
Costs/Dividends (52,000 ) (19,000 )
Surplus 498,000 496,000
Total Undivided Profits (5,973,000 ) (6,594,000 )
Unrealized Gain/Loss 17,000 13,000
Stockholder's Equity - net 11,144,000 10,551,000

Total Liabilities and Shareholder Equity

$ 108,674,000   $ 86,546,000  
December 31, 2012 December 31, 2011
Selected Consolidated Earnings Data
Total Interest Income/Fees $ 4,665,000 $ 3,698,000
Total Interest Expense (681,000 ) (585,000 )
Net Interest Income 3,984,000 3,113,000
Provision For Losses on Loans (540,000 ) (540,000 )

Net Interest Income After Provision For Losses on Loans

3,444,000 2,573,000
Total Other Income (Noninterest Income) 961,000 1,419,000
General Administrative and Other Expenses (3,784,000 ) (3,514,000 )
Income Tax (Expense) Benefit (5,000 ) 0  
Net Profit/Loss Year To Date $ 621,000   $ 478,000  


Community Valley Bank
Robert “Bob” Hahn, Chief Executive Officer
Phone (760) 352-1889

Release Summary

Robert "Bob" Hahn, President and CEO of Community Valley Bank (OTCBB: CMUV), announced the Bank ended a profitable fourth quarter on December 31, 2012 and solid growth.


Community Valley Bank
Robert “Bob” Hahn, Chief Executive Officer
Phone (760) 352-1889