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 15, 2008
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 15, 2008, River Valley Bancorp issued a press release reporting its results of operations and financial condition for the second quarter ended June 30, 2008.

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 July 15, 2008

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 16, 2008	RIVER VALLEY BANCORP
	By:	/s/ Vickie L. Grimes
		Vickie L. Grimes Vice President of Finance

EXHIBIT INDEX

Exhibit Number	Exhibit Description
99.1	Press Release, dated July 15, 2008

EX-99.1

EXHIBIT 99.1

River Valley Bancorp

Announces Higher Earnings for

 The Period Ended June 30, 2008

For Immediate Release

Tuesday, July 15, 2008

Madison, Indiana – July 15, 2008– 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 period ended June 30, 2008. Net income for the quarter and year-to-date reflect higher earnings over the same periods in 2007. Net income for the quarter was $588,686, or $0.36 per basic share. This is an increase of 5.5% over reported earnings of $557,919  or $0.34 per basic share, for the same period in 2007. The increase in earnings is primarily attributed to improving margins, assisted by higher average balances, and offset in part by higher operating expenses. In addition, the Corporation provided $152,000 in additional expense for the provision for loan losses over the same period in 2007.

Return on average assets for the quarter ended June 30, 2008 was 0.67% and the return on average equity was 9.03% for the quarter. For the second quarter of 2007, those corresponding returns were 0.66% and 9.12% respectively.

Net income for the six month period ended June 30, 2008 was $1,203,995, an increase of $113,528, or 10.4%, from the $1,090,467 recorded for the six month period ended June 30, 2007. Earnings per basic share for the six months ended June 30, 2008 were $0.74, compared to $0.67 per basic share for the six month period ended June 30, 2007. The return on average assets for the six months ended June 30, 2008 was 0.69%, and the return on average equity was 9.18%. For the like period in 2007, return on average assets was 0.64%, and 8.95% for average return on equity.  As well, the Corporation has expensed $400,000 for the provision for loan losses year to date 2008 as compared to $96,000 in the like period 2007.

Assets totaled $352.7 million as of June 30, 2008, an increase of approximately $16.0 million, from the $336.7 million reported as of June 30, 2007.  Net loans, including loans held for sale, were $266.3 million as of June 30, 2008, an increase of $22.9 million from the balance reported as of June 30, 2007 of $243.4 million, and a $7.4 million increase from balances reported as of December 31, 2007. As of June 30, 2008, deposits totaled $221.2  million, an increase of $6.8 million from the $214.4 million reported as of June 30, 2007 and a $1.5 million increase from that recorded on December 31, 2007.  

Stockholders’ equity as of June 30, 2008 was $25.5 million, or 7.23% as expressed as a percentage of assets. Reported book value of River Valley Bancorp stock was $15.57 as of June 30, 2008. Total delinquency, defined as loans 30 days or more past due, was 1.36% as of June 30, 2008. That same indicator was 1.04% as June 30, 2007, and 1.48% as of December 31, 2007.

“We are proud to announce the continuance of improved period performance. We are extremely pleased to report improved earnings, balance sheet growth, and modest delinquency in the current economic environment”, stated Matthew P. Forrester, president of River Valley Bancorp. “Banking in general is under a tremendous amount of negative influences, and ours is not immune from those, but we avoided the ‘wish we hadn’t done that’ situations for continued sound banking practices. It is bittersweet that we continue to achieve successes while the industry in general endures so many headline-making issues. It would be our hope, however, that the broad brush of pessimism with financial stocks is replaced with an acknowledgement that there are successes that should be celebrated.”

The last reported trade of  “RIVR” stock on July 14, 2008 was at $14.00.

Selected Financial Information

(Dollar amounts in thousands, except per share amounts)

	3 Months Ended			6 Months Ended			6 Months Ended
		6-30-2008			6-30-2008			6-30-2007
Assets				$	352,696		$	336,706
Net Loans, including loans held for sale					266,343			243,375
ALL					2,129			1,904
Deposits					221,169			214,377
Shareholder Equity					25,529			24,277
Total Interest Income	$	4,968			10,129			9,980
Total Non Interest Income		807			1,653			1,398
Interest Expense		2,660			5,585			6,017
Non Interest Expense		2,142			4,188			3,774
Provision Loan Losses		200			400			96
Taxes		184			405			401
Net Income		589			1,204			1,090
ROAA		0.67	%		0.69	%		0.64	%
ROAE		9.03	%		9.18	%		8.95	%
Basic Earnings per Share	$	0.36		$	0.74		$	0.67
Diluted Earnings per Share		0.36			0.73			0.66

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.   Forward-looking statements include expressions such as "expects," "intends," "believes," and "should," which are necessarily statements of belief as to the expected outcomes of future events. Actual results could materially differ from those presented. The Corporation's ability to predict future results involves a number of risks and uncertainties, some of which have been set forth in the Corporation's most recent annual report on Form 10-K filed with the Securities and Exchange Commission. The Corporation undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release.

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