COMMUNITY 
By Robert ?Bob? Hahn, President and CEO of Community Valley Bank (OTCBB: CMUV), announced for the third quarter of 2010 that the bank's total assets grew to $59.0 million. This is 4 percent growth from the end of June 30, 2010. Community Valley Bank's (CVB) growth has continued every quarter since the Bank was chartered on October 1, 2007.
Deposits also grew to $51.4 million from $48.2 million at the end of this year's second quarter. Gross loans increased by $6.6 million to $44.2 million, a 17 percent increase in three months. The bank's loss decreased to $179,000 from $199,000 at June 30, 2010.
CVB retains a tier one leverage capital ratio of 12.01 percent, which exceeds the Federal Deposit Insurance Corporation's regulatory requirements. To be considered well-capitalized, a bank must have over 10 percent. CVB's loan loss reserve to total loans is 1.64 percent.
?CVB continues to grow, despite the recession, and we expect to be profitable in 2011,? said Bob Hahn. ?We are pleased to be ranked as the 10th largest Small Business Administration (SBA) lender in the San Diego and Imperial Valley Region*. We expect SBA guaranteed loan programs to add to our success,? he said.
The book value of CVB stock is $5.30 per share and our stock traded at $2.50 per share as of September 30, 2010.
*SBA loans from October 1, 2009 through September 30, 2010. (September SBA San Diego Newsletter, http://www.sba.gov/localresources/district/ca/sandiego/index.html)
| At September 30, 2010 | At June 30, 2010 | |||||||||
| Consolidated Financial Condition Data | ||||||||||
| Assets | $ | 58,978,000 | $ | 56,894,000 | ||||||
| Loans receivable-net | 43,324,000 | 36,933,000 | ||||||||
| Cash and cash equivalents | 9,815,000 | 17,716,000 | ||||||||
| Investment securities | 521,000 | 510,000 | ||||||||
| Deposits | 51,490,000 | 48,211,000 | ||||||||
| Federal Home Loan Bank Stock, at Cost | 181,000 | 181,000 | ||||||||
| Stockholders' equity-net | 7,155,000 | 7,317,000 | ||||||||
| At September 30, 2010 | At June 30, 2010 | |||||||||
| Selected Consolidated Earnings Data | ||||||||||
| Total interest income | $ | 2,360,000 | $ | 1,268,000 | ||||||
| Total interest expense | 356,000 | 224,000 | ||||||||
| Net interest income | 2,004,000 | 1,045,000 | ||||||||
| Provision of losses on loans | 153,000 | 78,000 | ||||||||
| Net interest income after provision for losses on loans | 1,851,000 | 966,000 | ||||||||
| Total other income (Noninterest income) | 120,000 | 283,000 | ||||||||
| General, administrative and other expenses | 2,563,000 | 1,663,000 | ||||||||
| Income tax expense (benefit) | 0 | 0 | ||||||||
| Net loss | (592,000 | ) | (414,000 | ) | ||||||
About Community Valley Bank: Community Valley Bank (www.yourcvb.com) is the Imperial Valley's ONLY locally owned and locally headquartered bank. CVB was chartered as a state bank for Imperial Valley businesses on October 1, 2007, and now has two locations, 203 S. Imperial Avenue in El Centro and 310 Main Street in Brawley, California. Community Valley Bank is a publicly traded company under the symbol CMUV. All investor related inquiries should be directed to Community Valley Bank's Investor Relations Officer, Diana S. Alvarez. She may be contacted at (760) 352-1889.
Please Note: Information is subject to change without notice.
Community Valley Bank
Robert ?Bob? Hahn, Chief Executive Officer
760-352-1889
mediarelations@yourcvb.com
