EL CENTRO, CA - April 28, 2025 (NEWMEDIAWIRE) - CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited 1st Quarter results for the quarter ending March 31, 2025. Net income for the quarter was $405,669, which equaled $0.23 per share. Total assets reached $305.2MM by the end of the quarter, total deposits came in at $282.4MM, and gross loans ended the quarter at $268MM.
CVB’s Community Bank Leverage Capital ratio ended the quarter at 10.82%, which is well above the ratio required to be considered a well-capitalized bank. Our Allowance for Credit Losses ended the quarter at $2,740,703, and non-accrual and past due loans remain very low at 0.23%. Both the Board and Management believe the ACL is fully funded at quarter’s end.
The book value for the common stock was $17.81 per share (diluted) on March 31, 2025, however the common stock (CMUV) was trading at $21.30 on this date. ROAA for the quarter was 0.52% and ROAE came in at 4.52%. Earnings for the quarter were affected by expenses related to the proposed transaction with Frontwave Credit Union which was announced on January 22 of 2025.
In lieu of CMUV’s annual meeting that is typically held in May, we expect to hold a Special Shareholder Meeting on July 15, 2025, to seek shareholder approval of the transaction with Frontwave Credit Union and the related dissolution of CMUV Bancorp. We anticipate that the meeting will take place at 9:00 a.m. local time, at our branch located at 310 Main Street in Brawley, California. We welcome our shareholders to attend the meeting in person, if possible, but if you are unable to attend in person, please vote on-line or by mail. We anticipate that your proxy card and all proxy materials will be available by mid-June. The proxy materials will contain additional information about the transaction, including descriptions of each proposal to be voted on by our shareholders. After distribution, please take the opportunity to review the proxy materials and return your proxy card as it is essential for us to have a proper quorum.
Jon A Edney
760-352-1889
mediarelations@yourcvb.com