-----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, GkKGIyVhjJIqSQYHpBqIw6jp/0PD2rVK1PCpjHq8Fdqcr748vtOcaOv3Q6yMNDZk 8WG34aaIHRcKbey1hjE1tw== 0000908834-03-000425.txt : 20031021 0000908834-03-000425.hdr.sgml : 20031021 20031021154748 ACCESSION NUMBER: 0000908834-03-000425 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031020 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031021 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: 03949852 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_1020.txt 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): October 14, 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 October 14, 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 October 14, 2003 announcing its results of operations for the quarter ended September 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/ Larry C. Fouse --------------------------------------- Larry C. Fouse, Vice President of Finance Dated: October 20, 2003 EX-99 3 rv8k_1020ex.txt Exhibit 99.1 ------------ River Valley Bancorp Announces 10% Increase in Earnings for the Quarter Ended September 30, 2003 For Immediate Release Tuesday, October 14, 2003 Madison, Indiana - October 14, 2003- River Valley Bancorp (NASDAQ Small Cap Symbol "RIVR"), an Indiana corporation (the "Corporation") and holding company for River Valley Financial Bank (the "Bank"), based in Madison, Indiana announced earnings for the third quarter ended September 30, 2003. Net income for the quarter was $749,592, an increase of $67,529 or 9.9%, from the $682,063 reported for the quarter ended September 30, 2002. Net income for the quarter ended September 30, 2003 expressed as basic earnings per share was $0.94 which corresponds to $0.87 per share recorded for the same period a year earlier. Return on average assets was 1.27% and the return on average equity was 13.60% for the third quarter of fiscal 2003. Net income for the nine month period ended September 30, 2003 was $2,025,855, or $2.56 per basic share. For the year to date period, this is an increase of $81,908, or 4.2%, from the $1,943,947, or $2.50 per basic share, earned in the nine month period ended September 30, 2002. Results for the 2002 period were positively impacted by an after tax gain of approximately $212,000 from the disposition of a former branch office facility in the second quarter of 2002. Excluding this one time gain, year to date earnings in 2003 have increased nearly 17.0% over the same nine month period in 2002. Return on average assets for the nine month period ended September 30, 2003 was 1.14% and the return on average equity was 12.53%. Those percentages for the like period in 2002 were 1.27% and 13.64%, respectively. Assets totaled $245.2 million as of September 30, 2003, an increase of $21.2 million, or a 9.5% increase, from the $224.0 million reported as of December 31, 2002. Net loans, including loans held for sale, were $187.1 million as of September 30, 2003, an increase of $21.1 million, or a 12.7% increase, over the balance at December 31, 2002. Deposits totaled $171.6 million as of September 30, 2003, an increase of $9.8 million, or an increase of nearly 6.1%, from the balances reported December 31, 2002. "The Corporation continues to shatter historical benchmarks in spite of a perceived general economic downturn," stated Matthew P. Forrester, president of River Valley Bancorp. He further adds, "the Bank continues to grow and prosper. While bank margins grow tighter, our core business is expanding. We have been fortunate to grow our outstanding loan portfolio all while having significant sales of fixed rate residential mortgage loans to the secondary market. That combination of activities is important in the short-term, but will have significant implications if and when margins rebound." Stockholders' equity as of September 30, 2003 was $22.2 million, or 9.05% as expressed as a percentage of assets. Reported book value of River Valley Bancorp stock was $27.10 as of September 30, 2003. The last reported trade of "RIVR" stock on October 14, 2003 was at $41.50. Contact: Matthew P. Forrester - President, CEO River Valley Bancorp 812-273-4949 Selected Financial Information (In thousands, unless otherwise noted) 3 Months Ended 9 months Ended 9 Months Ended 9-30-03 9-30-03 9-30-02 Assets $245,184 $223,162 Net Loans, 187,140 165,209 (including loans held for sales) ALL 2,076 2,029 Deposits 171,597 161,417 Stockholders' Equity 22,202 20,015 Total Interest Income $3,290 $ 9,443 $ 9,528 Total Noninterest Inc. 924 2,657 2,098 Interest Expense 1,327 4,018 4,188 Noninterest Expense 1,484 4,406 3,810 Provision Loan Losses 180 360 410 Taxes 474 1,290 1,274 Net Income 749 2,026 1,944 ROAA 1.27% 1.14% 1.27% ROAE 13.91% 12.53% 13.64% Earnings per Basic Share $0.94 $2.56 $2.50 -----END PRIVACY-ENHANCED MESSAGE-----