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CMUV Bancorp (CMUV) is the parent company of Community Valley Bank, founded in 2007 with the mission to provide tailored banking services to the local business community in Imperial Valley. With a focus on local decision-making and community relationships, CMUV Bancorp aims to help businesses thrive and grow. Recent financial highlights include a net income of $4,004,744 in 2023, total assets of $297 MM, deposits of $260 MM, and gross loans at just under $232 MM. The bank prides itself on maintaining a well-capitalized position with a Community Bank Capital Leverage ratio of 11.80% at the end of 2023, exceeding industry standards and delivering value to shareholders.CMUV Bancorp, the holding company for Community Valley Bank, has declared a quarterly cash dividend of $0.12 per common share for the fourth quarter of 2024. The dividend will be distributed on December 31, 2024, to shareholders recorded as of December 9, 2024.
CMUV Bancorp, holding company for Community Valley Bank (CVB), has released its unaudited 3rd Quarter 2024 financial results. Net Income for the quarter was $1,127,388, or $0.65 per share. Total assets reached $315.9 million, with deposits at $276.3 million and gross loans at $261.1 million. The bank's Community Bank Leverage Capital ratio stood at 11.71%, well above the required level for well-capitalized status.
Key financial metrics include:
- Allowance for Credit Losses: $2,697,627
- Non-accrual and past-due loans: 0.96%
- Book value per share: $17.30 (diluted)
- ROAA: 1.36%
- ROAE: 12.02%
The bank has exceeded expectations in net income, total assets, and loans for the first three quarters of 2024. Management anticipates continued healthy demand for business and investment loans in Q4 2024.
CMUV Bancorp, the holding company for Community Valley Bank, has announced a $0.12 cash dividend per common share for the 3rd Quarter of 2024. The dividend is set to be paid on September 30, 2024, to shareholders of record as of September 6, 2024. This decision was approved by the company's Board of Directors, demonstrating their commitment to providing returns to shareholders. The announcement reflects CMUV Bancorp's financial stability and ability to maintain its dividend program, which could be seen as a positive signal for investors.
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