CMUV Bancorp Announces 2022 3rd Quarter Financial Results

El Centro, CA - (NewMediaWire) - October 21, 2022 - CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited 3rd quarter results for the quarter ending September 30, 2022. During the 3rd Quarter, net income totaled $1,039,959, which put year-to-date net income at $3,115,797 through the first nine months of the year. The net income for 3rd quarter equaled $0.56 per share. Also at the end of 3rd quarter 2022, total assets were $276.7 MM, total deposits came in at $237.7 MM, and gross loans were at $211 MM.

We ended the 3rd quarter 2022 with a Community Bank Leverage Capital ratio of 11.24%, which puts the Bank well above the ratio required to be considered a well-capitalized bank. Our Allowance for Loan and Lease Losses ended the quarter at $2,369,670 or 1.20% of total loans, excluding guaranteed portion of loans. Non-accrual loans remain very low at 0.88%. Both Board and Management believe the ALLL is fully funded at this time.

The September 30, 2022 book value of the common stock was $14.31 per share (diluted), while the common stock (CMUV) was trading at $14.10 as of the same date. ROAA through the 3rd quarter of 2022 was 1.45%, while ROAE came in at 13.90%.

As we celebrate our 15th Anniversary this month, we are very appreciative and grateful to all of you who have supported your locally owned community bank.

Jon A Edney

[email protected]

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