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 26, 2010
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 26, 2010, River Valley Bancorp issued a press release reporting its results of operations and financial condition for the fourth quarter and the fiscal year ended December 31, 2009.

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

Exhibit No.	Description
99.1	Press Release, dated January 26, 2010

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 27, 2010	RIVER VALLEY BANCORP
	By:	/s/ Vickie L. Grimes
		Vickie L. Grimes Vice President of Finance

EXHIBIT INDEX

Exhibit Number	Exhibit Description	Location
99.1	Press Release, dated January 26, 2010	Attached

EX-99.1

Exhibit 99.1

River Valley Bancorp

Announces 18% Increase in Earnings for the Fourth Quarter

 Ended December 31, 2009

For Immediate Release

Tuesday, January 26, 2010

Madison, Indiana – January 26, 2010– 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 earnings for the fourth quarter and fiscal year ended December 31, 2009.

For the fourth quarter ended December 31, 2009, the Corporation reported net income of $766,000 or $0.48 per basic share. This compared to net income of $646,000 or $0.41 per basic share for the quarter ended December 31, 2008. The earnings increase for the fourth quarter of 2009 reflected approximately an 18.6% increase over the same period in 2008. For the fourth quarter 2009, the return on average assets was 0.76% while the return on average equity was 10.51%.  Those percentages for the like period in 2008 were 0.69% and 10.47% respectively. The increase in net income for the fourth quarter of 2009 reflected higher net interest income from higher dollar balances of earning assets, improving interest margins, higher non interest income, and lower provision for loan losses, which were partially offset by higher operating expenses and taxes.

Net income for the fiscal year ended December 31, 2009 was $1,696,000. Earnings per basic share for fiscal 2009 were $1.10. This compares to net income for fiscal 2008 of $2,495,000, or $1.54 per basic share. In comparing like year periods, the Corporation expensed $2.9 million in 2009 for the provision for loan losses, a $1.8 million increase over the $1.1 million expensed in fiscal year 2008. The return on average assets for fiscal 2009 was 0.44%; the return on average equity was 6.48%. For fiscal 2008 those numbers were 0.69% and 9.71% respectively.

Assets totaled $396.2 million as of December 31, 2009, an increase of 6.4% from $372.3 million recorded as of December 31, 2008. Net loans, including loans held for sale, were $276.8 million as of December 31, 2009, a decrease of $8.6 million, from $285.4 million reported as of December 31, 2008. Deposits totaled $276.7 million as of December 31, 2009, approximately a $28.8 million increase, or 11.6% increase from the $247.8 million as of year end 2008.

As of December 31, 2009, total delinquency, as defined as delinquent 30 days or more, stood at 3.69%. This percentage as of December 31, 2008 was 1.07%. Net charge-offs, expressed as a ratio of average loans during 2009 was 0.92%. That same percentage was 0.26% in 2008. The allowance for loan losses expressed as a percentage of outstanding loans was 0.93% as of December 31, 2009 and was 0.82% on December 31, 2008.

Stockholder’s equity as of December 31, 2009 was $30.7 million and compares to $24.5 million as of December 31, 2008. The increase is attributable to current net income and the issuance of $5.0 million in private preferred stock in November 2009. Book value of River Valley Bancorp stock was $20.42 as of December 31, 2009, compared to $16.36 at December 31, 2008.

“We are hopefully exiting the most challenging period in our national economic environment since the Great Depression. We are very pleased to report that River Valley Bancorp was able to transition through this very difficult period presumably better than most. And as demonstrated by our 4th quarter performance, we appear to be poised to carry that momentum into a new year of hope and promise that we all individually and collectively seek,” stated Matthew P. Forrester, President of River Valley Bancorp. “In spite of national headlines that belittle banking in general, community banking and its members, which we proudly proclaim, are doing what our country, communities, and most importantly, our customers expect. This Corporation is carrying forward its mission and its message, and as demonstrated by our 2009 benchmarks, we are being successful at it.”

For the fiscal year, the Corporation’s stock traded in a daily closing price range of $16.86 to $9.15. The stock closed on December 31, 2009 at $12.50. The last reported trade on January 26, 2010 was $12.62.

Selected Financial Information

(Dollar amounts in thousands, except per share amounts)

	3 Months Ended			12 Months Ended			12 Months Ended
	12-31-2009			12-31-2009			12-31-2008
Assets				$	396,162		$	372,344
Net Loans, including loans for sale					276,737			285,434
Allowance for Loan Losses					2,563			2,364
Deposits					276,586			247,777
Stockholders’ Equity					30,715			24,540
Total Interest Income	$	4,856			19,187			20,335
Total Non Interest Income		935			4,168			3,212
Interest Expense		2,298			9,322			10,876
Non Interest Expense		2,188			9,304			8,383
Provision for Loan Losses		310			2,883			1,080
Taxes		228			150			713
Net Income		766			1,696			2,495
ROAA		0.76	%		0.44	%		0.69	%
ROAE		10.51	%		6.48	%		9.71	%
Basic Earnings per Share	$	0.48		$	1.10		$	1.54
Diluted Earnings per Share		0.48			1.09			1.53

Forward-Looking Statements

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 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 release.

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