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 20, 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)
N/A
(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:

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    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 20, 2010, River Valley Bancorp (the “Corporation”) issued a press release reporting its results of operations and financial condition for the first quarter ended March 31, 2010.

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 5.07.   Submission of Matters to a Vote of Security Holders

On April 21, 2010, the Corporation held the Annual Meeting of Shareholders pursuant to due notice. Two directors were elected to the following terms, by the following votes. Holders of a total of 1,185,258 shares were present in person or by proxy at the meeting.

Director	Expiration of Term	Votes For	Withhold Vote	Broker Non-Votes
Fred W. Koehler	2013	790,161	36,126	358,971
Charles J. McKay	2013	820,161	6,126	358,971

The proposition described below, having received a vote, in person or by proxy, of more favorable votes than votes cast against the proposition, was declared to be duly adopted by the shareholders of the Corporation.

	For	Against	Abstain
Approval and ratification of the appointment of BKD, LLP as auditors for River Valley Bancorp for the year ended December 31, 2010	1,167,046	12,149	6,063

Item 9.01   Financial Statements and Exhibits

(d)   Exhibits

Exhibit No.	Description
99.1	Press Release, dated April 20, 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: April 23, 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 April 20, 2010	Attached

EX-99.1

Exhibit 99.1

River Valley Bancorp

Announces 32% Increase in Earnings for the Quarter

Ended March 31, 2010

For Immediate Release

Tuesday April 20, 2010

Madison, Indiana – April 20, 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 today earnings for the first quarter ended March 31, 2010.

Net income for the quarter was $718,974, an increase of $175,793 or 32.4%, from the $543,181 reported for the quarter ended March 31, 2009. Net income for the quarter ended March 31, 2010 was $0.42 per share. For the same period in 2009, earnings per share were $0.36. For the quarter ended March 31, 2010, return on average assets was 0.73% and the return on average equity was 9.18%, which compares to 0.57% and 8.58%, respectively for the period ended March 31, 2009.

The quarterly results reflect improving interest margins, marginally lower operating expenses, and lower funding for the provision for loan losses. These increases were partially offset by lower non-interest income and correspondingly higher income tax expense.

Assets totaled $395.2 million as of March 31, 2010, an increase of $11.1 million from the balance reported on March 31, 2009, and approximately a $1.0 million decrease from the balance reported as of December 31, 2009. Net loans, including loans held for sale, were $273.3 million as of March 31, 2010, a decrease of $7.1 million from $280.4 million as of March 31, 2009 and a decrease of $3.5 million from December 31, 2009. Deposits totaled $282.3 million as of March 31, 2010, an increase of $19.5 million from March 31, 2009, and an increase of $5.7 million from the amount reported as of December 31, 2009.

“I am extremely pleased to be reporting a substantial increase in earnings for the quarter and a third consecutive quarter of double digit improvement,” stated Matthew P. Forrester, President of River Valley Bancorp. The CEO further added, “Previous actions to appropriately fund the provision for loan losses, continued prudent lending, the attraction of additional capital, in concert with an ever-so-slight improvement in general economics, has yielded improved returns. That is not to say, that a “double dip” recession is still not a possibility that could prolong a sustained economic recovery, but we believe that we are well positioned to deal with further residual effects. Under normal circumstances, three consecutive quarters of improving earnings might not be significant; however, there has been nothing &# 8220;normal” about the past two years. We are grateful and gratified that your Corporation has weathered the storm better than most.”

Total delinquency, as defined as loans over 30 days past due as a percentage of total loans, was 3.45% for the period ended March 31, 2010. That same calculation was 3.21% as of March 31, 2009 and 3.70% as of December 31, 2009. Non-performing loans to total loans were 2.56% as of March 31, 2010 as compared to 1.50% as of March 31, 2009 and 3.20% at December 31, 2009.

Equity as of March 31, 2010 was $31.3 million, or 7.93% expressed as a percentage of assets. The Bank comfortably exceeds the three regulatory capital standards designated as “well capitalized.” Book value per share, including preferred shares, of River Valley Bancorp stock was $20.83 as of March 31, 2010.

The last reported trade of “RIVR” stock on April 19, 2010 was at $13.65.

Selected Financial Information

(Dollar in thousands, except per share amounts)

	3 Months Ended			3 Months Ended
		3-31-2010			3-31-2009
Assets	$	395,228		$	384,162
Net Loans, including
Loans held for sale		273,314			280,368
Allowance for Loan
Losses (ALL)		2,995			2,602
Deposits		282,250			262,727
Stockholders’ Equity		31,344			25,005
Total Interest Income	$	4,683		$	4,842
Total Non-Interest Income		778			1,038
Interest Expense		1,986			2,383
Non-Interest Expense		2,369			2,444
Provision for Loan Losses		165			385
Taxes		222			125
Net Income		719			543
ROAA		0.73	%		0.57	%
ROAE		9.18	%		8.58	%
Earnings per Basic Share	$	0.42		$	0.36
Diluted Earnings per Share	$	0.42		$	0.36

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