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)  October 14, 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 October 14, 2008, River Valley Bancorp issued a press release reporting its results of operations and financial condition for the third quarter ended September 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.

This Current Report on Form 8-K, including Exhibit 99.1, 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 Company’s ability to predict future results involves a number of risks and uncertainties, some of which have been set forth in the Company’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission. The Company undertakes no obligation to release  revisions to these forward-looking statements or reflect events or circumstances after the date of this Current Report of Form 8-K.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

(d)  Exhibits

99.1   Press Release, dated October 14, 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: October 15, 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 October 14, 2008

EX-99.1

Exhibit 99.1

River Valley Bancorp

Announces 20+% Improvement in Earnings for

the Quarter Ended September 30, 2008

For Immediate Release

Tuesday, October 14, 2008

Madison, Indiana – October 14, 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 third quarter ended September 30, 2008. Net income for the quarter was $645,101, or $0.39 expressed as basic earnings per share. Net income for the third quarter ended September 30, 2007 was $532,494, or $0.33 per basic share. The increase in earnings of $112,607, or 21.2%, reflected increased interest margins, higher non-interest income, but was partially offset by higher operating expenses and provision for loan losses. The Corporation expensed $245,000 for the provision for loan losses during the third quarter of 2008, an increase of $49,000, over the same period in 2007.

Return on average assets for the quarter ended September 30, 2008 was 0.71% and the return on average equity was 10.06% for the quarter. For the third quarter of 2007, those corresponding returns were 0.61% and 8.59% respectively.

Net income for the nine month period ended September 30, 2008 was $1,849,096, or $1.13 per basic share. This represents an increase of $226,135, or a 13.9% increase over the $1,622,961 recorded for the same period ended September 30, 2007. Return on average assets for the nine month period ended September 30, 2008 was 0.70% and the return on average equity was 9.47%. Those respective ratios were 0.63% and 8.83% for the like period in 2007.

Assets totaled $364.9 million as of September 30, 2008, an increase of approximately $16.9 million, from the $348.0 million reported as of September 30, 2007. Net loans, including loans held for sale, were $279.4 million as of September 30, 2008, an increase of $26.4 million from September 30, 2007. Deposits totaled $234.9 million as of September 30, 2008, an increase of $12.0 million from the $222.9 million reported September 30, 2007. Year to date increases from balances reported as of December 31, 2007, indicate an increase of $14.9 million in assets, $20.8 million in loans, and $15.2 million in deposits.

Stockholders’ equity as of September 30, 2008 was $25.5 million, or 7.00% as expressed as a percentage of assets. Reported book value of River Valley Bancorp stock was $15.56 as of September 30, 2008.

“With all the attention directed at Wall Street, the message that its business as usual on Main Street has been lost in the noise. That is not to say there are real issues even at the community banking level, but there are success stories, there are institutions that have avoided the pitfalls that have befallen so many others, and there are prospering institutions like River Valley Bancorp,” stated Matthew P. Forrester, president of the Corporation. “In this environment, we are extremely pleased to announce that our benchmarks are positive. We are experiencing good growth, increasing profitability, appropriate funding for loan losses, much better than peer delinquency, and modestly improving margins. The shame is that our good performance in this drama may get lost in the overall review. There are stars and we count it a blessing that can be viewed as one.”

The last reported trade of “RIVR” stock on this date was at $13.69.

Selected Financial Information

(Dollar amounts in thousands, except per share amounts)

	3 Months Ended 9-30-2008			9 Months Ended 9-30-2008			9 Months Ended 9-30-2007
Assets				$	364,869		$	348,027
Net Loans,					279,415			253,000
(Including loans held for sale)
ALL					2,209			2,019
Deposits					234,929			222,917
Shareholders’ Equity					25,522			24,910
Total Interest Income	$	5,143			15,271			15,235
Total Non Interest Income		834			2,487			2,122
Interest Expense		2,690			8,274			9,168
Non Interest Expense		2,184			6,372			5,688
Provision Loan Losses		245			645			292
Taxes		213			618			586
Net Income		645			1,849			1,623
ROAA		0.71	%		0.70	%		0.63	%
ROAE		10.06	%		9.47	%		8.83	%
Basic Earnings per Share	$	0.39		$	1.13		$	1.00
Diluted Earnings per Share		0.39			1.12			0.98

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