Exhibit 99.1

                              River Valley Bancorp
                  Announces Higher Earnings for the Fiscal Year
                             Ended December 31, 2003

For Immediate Release
Thursday, January 22, 2004

Madison,  Indiana - January 22, 2004- 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  earnings
for the fiscal year and fourth quarter ended December 31, 2003.

Net income for the fiscal year ended December 31, 2003 was $2,655,000.  Earnings
per basic share for fiscal  2003,  reflecting  the  previously  announced  stock
split, was $1.67. This compares to net income for fiscal 2002 of $2,558,000,  or
$1.64 per basic share.  The  earnings  for 2003 reflect a 3.8% dollar  increase.
Included  in  fiscal  2002,  however,  was 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
13% and a 10% improvement on earnings per share for the comparable periods.  The
return on average assets for fiscal 2003 was 1.11%; the return on average equity
was 12.22%.  For fiscal 2002 those numbers,  including that one time gain,  were
1.22% and 13.21% respectively.

Assets  totaled  $255.1  million as of December 31, 2003,  an increase of 13.9%,
from $224.0 million recorded as of December 31, 2002. Net loans, including loans
held for sale, were $192.3 million as of December 31, 2003, an increase of $26.3
million,  or 15.8%,  from that  recorded as of December 31, 2002.  Deposits also
increased  by $18.2  million,  or 11.2%,  from that  recorded for the year ended
2002, to $180.0 million as of December 31, 2003.

Stockholder's  equity as of  December  31,  2003 was $22.9  million,  or 9.0% as
expressed as a percentage  of assets.  Book value of River Valley  Bancorp stock
was $13.88 as of December 31, 2003, compared to $12.73 at December 31, 2002.

"Calendar year 2003 was another record year. The Corporation attained records in
earnings, in asset growth, as well as, in loan and deposit growth, all while our
shareholders enjoyed record dividends and price appreciation," states Matthew P.
Forrester,  president  of  River  Valley  Bancorp.  The CEO  further  adds,  "As
important as these benchmarks are, there would be no gratification if we did not
exceed those  expectations  each and every year.  Calendar  year 2003 marked the
fifth consecutive year we have exceeded the previous year's standards."

For the fourth  quarter ended December 31, 2003,  the  Corporation  reported net
income of  $629,000  or $0.39 per basic  share.  This  compared to net income of
$615,000 or $0.39 per basic share for the quarter ended  December 31, 2002.  The
increase for the quarter reflected a 2.2% improvement in the dollar amount.

For the fiscal year, the Corporation's stock traded in a split effected range of
$14.20 to $29.62. The stock closed on December 31, 2003 at $29.43.

Contact:  Matthew P. Forrester - President, CEO
          River Valley Bancorp
          812-273-4949