-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GYRDbUogjDkbuut52xQmv9sTA6Qg76TOKEs9h/A/+dwaIRtbUMuQJ7/7b8VZQRsk hjib+zB4V4/j/Qq2E6Gscg== 0000908834-03-000342.txt : 20030819 0000908834-03-000342.hdr.sgml : 20030819 20030819160616 ACCESSION NUMBER: 0000908834-03-000342 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030715 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RIVER VALLEY BANCORP CENTRAL INDEX KEY: 0001015593 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 351984567 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21765 FILM NUMBER: 03855863 BUSINESS ADDRESS: STREET 1: 430 CLIFTY DR CITY: MADISON STATE: IN ZIP: 47250 BUSINESS PHONE: 8122734949 MAIL ADDRESS: STREET 1: 430 CLIFTY DR CITY: MADISON STATE: IN ZIP: 47250 8-K 1 rv8k_0819.txt RIVER VALLEY FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 8-K ________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 15, 2003 RIVER VALLEY BANCORP (Exact name of registrant as specified in its charter) INDIANA (State or other jurisdiction of incorporation) 2-47541 35-1984567 (Commission File Number) (IRS Employer Identification No.) 430 Clifty Drive Madison, Indiana 47250 (Address of principal executive offices)(Zip Code) Registrant's telephone number, including area code: (812) 265-3421 Item 7. Financial Statements and Exhibits. (c) Exhibits 99.1 Press Release dated July 15, 2003. Item 12. Results of Operations and Financial Condition. River Valley Bancorp, an Indiana corporation ("Registrant"), issued a press release which was publicly disseminated on July 15, 2003 announcing its results of operations for the quarter ended June 30, 2003. A copy of the press release is furnished herewith as Exhibit 99.1. Pursuant to General Instruction B.6 of Form 8-K, this exhibit is not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, but is instead furnished as required by that instruction. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. /s/ Matthew P. Forrester ------------------------------------ Matthew P. Forrester, President and Chief Executive Officer Dated: August 19, 2003 EX-99.1 3 ex99_0819.txt PRESS RELEASE 07/15/03 Exhibit 99.1 River Valley Bancorp Announces Substantial Increase in Operating Earnings for the Quarter Ended June 30, 2003 For Immediate Release Tuesday, July 15, 2003 Madison, Indiana - July 15, 2003- River Valley Bancorp (NASDAQ Small Cap Symbol "RIVR"), an Indiana corporation (the "Corporation") and holding company for River Valley Financial Bank, based in Madison, Indiana announced today earnings for the second quarter ended June 30, 2003. Net income for the quarter was $680,593. Net income for the second quarter ended June 30, 2002 was $734,981, however, the quarter ended June 30, 2002 included an after-tax gain of approximately $212,000 from the disposition of a former banking facility. Excluding that one time gain in 2002, earnings for period to period comparison was up approximately 30%. Net income for the quarter ended June 30, 2003 expressed as basic earnings per share was $0.86, as compared to $0.94 per share recorded for the corresponding period a year earlier. Return on average assets was 1.17% and the return on average equity was 12.77% for the quarter ended June 30, 2003. For the second quarter of 2002 , those corresponding numbers were 1.48% and 15.79% respectively. Again, second quarter 2002 numbers are impacted by the one time gain. Net income for the six month period ended June 30, 2003 was $1,276,263, or $1.61 per basic share. For the six month period, this is an increase of $14,379 from the $1,261,884 reported for the same period ended June 30, 2002. Including the one time gain in the second quarter of 2002, earnings per basic share for the six months ended June 30, 2002 was $1.63. Assets totaled $239.4 million as of June 30, 2003, an increase of $15.4 million, from the $224.0 million reported as of December 31, 2002. Net loans, including loans held for sale, were $179.4 million as of June 30, 2003, an increase of $13.4 million, from the balance reported as of December 31, 2002. Deposits totaled $169.0 million as of June 30, 2003, an increase of $7.2 million from the $161.8 million reported December 31, 2002. Stockholder's equity as of June 30, 2003 was $21.7 million, or 9.06 % as expressed as a percentage of assets. Reported book value of River Valley Bancorp stock was $26.65 as of June 30, 2003. "The Corporation continues to make positive gains. When you consider 2002 numbers were affected by the sale of a former bank building, year to date numbers for 2003 reflect solid growth and increasing profitability. Many banks including River Valley Financial Bank are experiencing shrinking margins, however we continue to have good growth in our balance sheet and it is reflected in enhanced earnings", stated Matthew P. Forrester, president of River Valley Bancorp. "That growth, plus significant secondary market sales of residential mortgage loans has made year to date 2003 historical." As previously announced, River Valley Bancorp raised its quarterly cash dividend by $0.05 to $0.30 per share, or $1.20 per share annually. The last reported trade of "RIVR" stock on this date was at $40.00. Selected Financial Information (Dollar amounts in thousands, except per share amounts)
3 Months Ended 6 Months Ended 6 Months Ended 6-30-2003 6-30-2003 6-30-2002 Assets $239,446 $203,664 Net Loans 179,383 162,330 ALL 2,008 2,012 Deposits 168,984 151,390 Shareholder Equity 21,714 19,187 Total Interest Income $3,051 $ 6,134 $ 6,286 Total Non Interest Income 865 1,733 1,219 Interest Expense 1,352 2,673 2,782 Non Interest Expense 1,395 2,922 2,373 Provision Loan Losses 90 180 260 Taxes 398 816 828 Net Income 681 1,276 1,262 ROAA 1.17% 1.10% 1.27% ROAE 12.77% 11.97% 13.56% Earnings per Basic Share $0.86 $1.61 $1.63
Contact: Matthew P. Forrester - President, CEO River Valley Bancorp -----END PRIVACY-ENHANCED MESSAGE-----