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)   January 16, 2007
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 January 16, 2007, River Valley Bancorp issued a press release reporting its results of operations and financial condition for the year ended December 31, 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.

(d)  Exhibits

99.1 Press Release, dated January 16, 2007

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:  January 19, 2007	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 January 16, 2007

EX-99.1

Exhibit 99.1

River Valley Bancorp

Announces Substantially Higher Earnings for the Fourth Quarter 2006,

and Modestly Lower Results for the Fiscal Year

Ended December 31, 2006

For Immediate Release

Tuesday, January 16, 2007

Madison, Indiana - January 16, 2007- 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 fourth quarter and fiscal year ended December 31, 2006.

For the fourth quarter ended December 31, 2006, the Corporation reported net income of $566,000 or $0.35 per basic share. This compared to net income of $365,000 or $0.23 per basic share for the quarter ended December 31, 2005. The earnings increase for the fourth quarter of 2006 was approximately $201,000, or a 55.1% increase over the same period in 2005. This increase reflected higher net interest income from higher dollar balances of earning assets, including improved yields on investments, and a substantial reduction in operating expenses, in part associated with lower mortgage servicing charges and tax liabilities. For the fourth quarter 2006, the return on average assets was 0.67%, while the average return on equity was 9.38%.

Net income for the fiscal year ended December 31, 2006 was $1,945,000. Earnings per basic share for fiscal 2006 were $1.21. This compares to net income for fiscal 2005 of $2,086,000, or $1.32 per basic share. The earnings for 2006 reflect approximately a $141,000 decrease from that recorded for 2005. The return on average assets for fiscal 2006 was 0.59%; the return on average equity was 8.27%. For fiscal 2005 those numbers were 0.63% and 9.06% respectively.

Assets totaled $342.2 million as of December 31, 2006, an increase of 4.1% from $328.7 million recorded as of December 31, 2005. Net loans, including loans held for sale, were $241.9 million as of December 31, 2006, an increase of $12.2 million from that reported as of December 31, 2005. Deposits totaled $220.2 million as of December 31, 2006 an increase of $13.5 million, or 6.5%, from the $206.7 million as of year end 2005.

As of December 31, 2006, total delinquency, as defined as delinquent 30 days or more, stood at 0.77%. This percentage as of December 31, 2005 was 1.46%, and was 1.99% for the same period in 2004.

Stockholder’s equity as of December 31, 2006 was $24.1 million, or 7.1% as expressed as a percentage of assets. Book value of River Valley Bancorp stock was $14.90 as of December 31, 2006, compared to $14.42 at December 31, 2005.

“We are very pleased to be ending fiscal 2006 on a significant up-swing that not only represents substantial improvement over a year ago, but also represents the best financial performance of any quarter in 2006 ”, stated Matthew P. Forrester, president of River Valley Bancorp. “As most community banks can attest, the national interest rate environment has not been kind over the past several years. While interest rate margins continue to be compressed, and their impact on earnings for the fiscal year was undeniable, appropriate growth and timely modifications to the balance sheet are yielding real improvements to the income statement. As we have said previously, we feel that this quarter signifies continued improvement in the earnings potential of the organization”.

For the fiscal year, the Corporation’s stock traded in a range of $17.60 to $20.25. The stock closed on December 31, 2006 at $18.05.

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