8-K

United States

Securities And Exchange Commission

Washington, DC 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 18, 2006
River Valley Bancorp
(Exact Name of Registrant as Specified in Its Charter)
Indiana	000-21765	35-1984567
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
430 Clifty Drive, P.O. Box 1590, Madison, Indiana		47250-0590
(Address of Principal Executive Offices)		(Zip Code)
(812) 273-4949
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02  Results of Operations and Financial Condition.

On July 18, 2006, River Valley Bancorp issued a press release reporting its results of operations and financial condition for the second quarter ended June 30, 2006.

A copy of the press release is attached as Exhibit 99.1 to this Current Report. The information disclosed under this Item 2.02, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

Item 9.01  Financial Statements and Exhibits.

(c)  Exhibits
99.1	Press Release, dated July 18, 2006

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 hereto duly authorized.

Date:  July 24, 2006		RIVER VALLEY BANCORP
	By:	/s/ Larry C. Fouse
		Larry C. Fouse Vice President of Finance

EXHIBIT INDEX

Exhibit Number	Exhibit Description
99.1	Press Release, dated July 18, 2006

EX-99.1

Exhibit 99.1

River Valley Bancorp

Announces Earnings for

the Quarter Ended June 30, 2006

For Immediate Release

Tuesday, July 18, 2006

Madison, Indiana - July 18, 2006- 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, 2006. Net income for the quarter was $503,274, or $0.31 per basic share. Earnings for the quarter ended June 30, 2005 was $629,978, or $0.40 per basic share. The decrease in earnings for like periods is primarily attributed to continued pressure on margins, slightly higher provision for loan losses, and moderately higher operating expenses.

Return on average assets for the quarter ended June 30, 2006 was 0.61% and the return on average equity was 8.69% for the quarter. For the second quarter of 2005, those corresponding returns were 0.83% and 11.06% respectively.

Net income for the six month period ended June 30, 2006 was $906,089, or $0.57 per basic share. Earnings for the second quarter 2006 increased by $100,459, or nearly a 25% improvement, over the first quarter 2006 earnings. Earnings for the six month period ended June 30, 2005 was $1,145,229, or $0.73 per basic share. The return on average assets for the six months ended June 30, 2006 was 0.55%, and the return on average equity was 7.82%. For the like period in 2005, return on average assets was 0.75%, and 10.05% for average return on equity.

Assets totaled $327.8 million as of June 30, 2006, an increase of approximately $21.9 million, from the $305.9 million reported as of June 30, 2005 and a mere $900,00 decrease from the $328.7 million reported as of December 31, 2005. Net loans, including loans held for sale, were $233.0 million as of June 30, 2006, nearly identical to the balances reported as of June 30, 2005, but a $3.3 million increase from balances reported as of December 31, 2005. As of June 30, 2006, deposits totaled $219.5 million,, an increase of $12.8 million from deposit balances reported as of December 31, 2005.. Correspondingly, FHLB advances and other borrowings as of June 30, 2006 were $83.2 million, a decrease of $13.6 million from the $96.8 million balance reported as of December 31, 2005.

Stockholders’ equity as of June 30, 2006 was $23.1 million, or 7.05 % as expressed as a percentage of assets. Reported book value of River Valley Bancorp stock was $14.39 as of June 30, 2006.

“We continue to work through the anomaly in the current yield curve, and are doing well in spite of the national interest rate environment. On the lending side of our balance sheet, we are committed to a predominately adjustable rate loan portfolio, but a flat yield curve provides the customer with optionality on rate and term”, stated Matthew P. Forrester, president of River Valley Bancorp. “Conversely, short term deposit rates keeping moving higher, putting more and more pressure on operating margins. Our earnings, while not where we would like, are improving; our delinquency rate is near record lows; and we have announced a new wealth management division that fills a missing link in our birth to death financial services commitment. Those facts, coupled with responsible growth, will prove to be the ingredients to a successful recipe.”

The last reported trade of “RIVR” stock on this date was at $18.58.

Selected Financial Information

(Dollar amounts in thousands, except per share amounts)

	3 Months Ended			6 Months Ended			6 Months Ended
	6-30-2006			6-30-2006			6-30-2005
Assets				$	327,826		$	305,926
Net Loans, 1					233,019			233,029
ALL					2,402			2,314
Deposits					219,477			169,581
Shareholder Equity					23,146			22,988
Total Interest Income	$	4,750			9,194			7,787
Total Non Interest Income		626			1,198			1,235
Interest Expense		2,724			5,222			3,720
Non Interest Expense		1,842			3,692			,390
Provision Loan Losses		84			168			144
Taxes		223			404			623
Net Income		503			906			1,145
ROAA		0.61	%		0.55	%		0.75	%
ROAE		8.69	%		7.82	%		10.05	%
Basic Earnings per Share	$	0.31		$	0.57		$	0.73
Diluted Earnings per Share		0.31			0.55			0.70

______________________

1 Including Loans Held for Sale

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