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CMUV Bancorp Announces 2023 4th Quarter Financial Results

CMUV BANCORP (CMUV) 
NASDAQ:AMEX Investor Relations: bancorpsouth.investorroom.com
Company Research Source: GlobeNewswire
EL CENTRO, CA, Jan. 25, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited year-end results for 2023. Earnings for the year ending December 31, 2023 were $4,004,744. CVB’s Total Assets grew to $297 MM at fiscal year-end 2023, with Loans ending at just under $232 MM. Deposits also increased to $260 MM. Earnings per share for 2023 were $2.26. CVB ended 2023 with a Community Bank Capital Leverage ratio of 11.80%, well above the ratio threshold required to be considered a well-capitalized bank. Our Allowance for Credit Losses ended the year at $2,557,440, or 0.93%, of Total Loans, and Non-accrual and Past Due Loans remain very low at less than 0.02%. CVB’s Board of Directors and Management believe the ACL is fully funded at this time. ROAA was 1.37%, and ROAE was at 12.37% for the year ending December 31, 2023. In what was a challenging banking environment in 2023, CVB was able to outperfo Show less Read more
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