Skip to main content

CMUV Bancorp Announces 2021 1st Quarter Financial Results & Schedules Annual Shareholder Meeting

Written by Customer Service on . Posted in Public Companies.

EL CENTRO, CA, April 26, 2021 (GLOBE NEWSWIRE) — via NewMediaWire ‒ CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited 1st quarter results for the quarter ending March 31, 2021. Net Income came in at $1,045,454. This is the highest net income for a 1st quarter in bank history. The net income number equaled $0.46 per share. Total assets reached $251.8 MM. Total deposits came in at $231.6 MM. Gross loans surpassed $220 MM. 

We ended the 1st quarter 2021 with a Community Bank Leverage Capital ratio of 10.19%.  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 0.33%. Both Board and Management believe the ALLL is fully funded at this time. 

03/31/2021 book value of the common stock was $11.82 per share (diluted). The common stock (CMUV) was trading at $10.82 as of March 31, 2021. ROAA for the quarter was 1.38% and ROAE came in at 13.92%

The bank continues to participate in the SBA PPP program. As of the end of the 1st quarter, CVB had assisted over 150 businesses with second Draw PPP loans and processed more than 225 first Draw PPP forgiveness applications. At quarter end, the bank had approximately $ 40 MM in first and second round PPP loans.

The CMUV Annual Shareholders Meeting will take place on May 13, 2021, 10:00 a.m., at 310 Main St, Brawley, CA 92227.  We would normally be excited to invite our shareholders to attend but as we are still going through the pandemic issues, we would suggest that you not attend the meeting in person. Your proxy card, annual report, and the audited financials are available for shareholder review and voting. Please take the opportunity to review and vote, as it is essential for us to have a proper quorum in order to conduct the appropriate business actions.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.