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)   April 17, 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 April 17, 2007, River Valley Bancorp issued a press release reporting its results of operations and financial condition for the first quarter ended March 31, 2007.

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 April 17, 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: April 23, 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 April 17, 2007

EX-99.1

EXHIBIT 99.1

River Valley Bancorp

Announces Higher Earnings for the Quarter

Ended March 31, 2007

For Immediate Release

Tuesday April 17, 2007

Madison, Indiana - April 17, 2007- River Valley Bancorp (NASDAQ Capital Market, Symbol “RIVR”), an Indiana corporation (the “Corporation”) and holding company for River Valley Financial Bank, based in Madison, Indiana announced today earnings for the first quarter ended March 31, 2007.

Net income for the quarter was $532,548, an increase of $129,727 or 32.2%, from the $402,815 reported for the quarter ended March 31, 2006. Included in this increase is higher non-interest income from trust and wealth management fees, modestly higher interest margins, as well as, modestly lower operating expenses and provision for loan losses. Net income for the quarter ended March 31, 2007 expressed as basic earnings per share was $0.33. For the same period in 2006, basic earnings per share was $0.25. For the quarter ended March 31, 2007, return on average assets was 0.63% and the return on equity was 8.78%, and compares to 0.49% and 6.97%, respectively for the period ended March 31, 2006.

Assets totaled $338.8 million as of March 31, 2007, an increase of $16.2 million from balances reported on March 31, 2006, and a decrease of $3.4 million from the balances reported as of December 31, 2006. Net loans, including loans held for sale, were $243.4 million as of March 31, 2007, an increase of $11.7 million from $231.7 as of March 31, 2006, and an increase of $1.5 million from December 31, 2006. Deposits totaled $217.5 million as of March 31, 2007, an increase of $2.3 million from March 31, 2006, and a $2.7 million decrease from the $220.2 million reported as December 31, 2006.

“As previously stated, your Corporation has responded appropriately to opportunities, rather than being determined by a national interest rate environment where hope and prayer seems to be the extent of anyone’s control”, stated Matthew P. Forrester, president of River Valley Bancorp. The CEO further added, “We ended 2006 with a dramatic improvement in earnings in the fourth quarter, and that momentum is carried forward into 2007. Prudent growth and management of the balance sheet has yielded significant improvement in net income while still affording us the prospect of improving margins, if and when, the national interest rate environment returns to a more typical and historical pattern.”

Equity as of March 31, 2007 was $24.3 million, or 7.2% as expressed as a percentage of assets. Book value per share of River Valley Bancorp stock was $15.06 as of March 31, 2007.

The last reported trade of “RIVR” stock on April 16, 2007 was at $17.60.

Selected Financial Information

(In thousands, unless otherwise noted)

	3 Months Ended			3 Months Ended
	3-31-2007			3-31-2006
Assets	$	338,841		$	322,708
Net Loans, including
Loans held for sale		245,405			231,739
ALL		2,050			2,373
Deposits		217,534			215,242
Shareholders’ Equity		24,335			23,156
Total Interest Income	$	4,958		$	4,444
Total Non Interest Income		668			572
Interest Expense		3,009			2,498
Non Interest Expense		1,832			1,850
Provision Loan Losses		48			84
Taxes		204			181
Net Income		533			403
ROAA		0.63	%		0.49	%
ROAE		8.78	%		6.97	%
Earnings per Basic Share	$	0.33		$	0.25
Diluted Earnings per Share	$	0.32		$	0.25

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