Skip to Content

CMUV Announces 2nd Quarter Financial Results and Ranks in the Top 2% of Community Banks in the Country

El Centro, CA, July 23, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited Second Quarter results for the quarter ending June 30, 2021. Net Income came in at $1,092,421. The Net Income number equaled $0.47 per share. The Net Income for the first 6 months of 2021 came in at $2,137,875, which is a 47% increase over the first 6 months of 2020. Total Assets reached $276 MM. Total Deposits came in at $240.5 MM. Gross Loans were at $214.6 MM.

We ended the Second Quarter 2021 with a Community Bank Leverage Capital ratio of 10.37%. This is well above the ratio required to be considered, a well-capitalized bank. Our Allowance for Loan and Lease Losses ended the quarter at $2,158,681 or 1.20% of total loans, excluding SBA PPP loans that have a 100% guarantee. Non-Accrual Loans and Past Due Loans remain very low at 0.22%. Both Board and Management believe the ALLL is fully funded at this time.

June 30, 2021 book value of the common stock was $12.29 per share (diluted). The common stock (CMUV) was trading at $11.55 as of June 30, 2021. ROAA for the first 6 months of 2021 was 1.59% and ROAE came in at 15.47%.

The Bank has worked expeditiously with our business customers in submitting SBA PPP loan forgiveness applications. At the conclusion of the Second Quarter, the Bank had received SBA approval for forgiveness on over 70% of its PPP loans. From a high of just under $65 MM, the Bank had about $24 MM remaining in PPP loans at June 30, 2021.

CVB is very proud to announce that American Banker magazine ranked CVB as the 95th ranked community bank in the country out of over 4,400 community banks, placing us in the top 2%. We are extremely grateful to our customers for their patronage and support.

Jon A. Edney

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.