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EL CENTRO, CA – 
We ended the 2nd quarter 2022 with a Community Bank Leverage Capital ratio of 10.97%. This is well above the ratio required to be considered a well-capitalized bank. Our Allowance for Loan and Lease Losses ended the quarter at $2,369,670, or 1.14% of total loans. Non-accrual loans and Past Due loans remain very low at 0.91%. Both Board and Management believe the ALLL is fully funded at this time.
June 30, 2022 book value of the common stock was $13.89 per share (basic). The common stock (CMUV) was trading at $14.30 as of June 30, 2022. ROAA for the six months ending June 30, 2022 was 1.46% and ROAE came in at 13.93%
We are cautiously optimistic that in spite of increased inflation and interest rates, we will continue to see favorable financial results, increases in deposits, and satisfactory loan demand as we progress into the second half of 2022.
Jon A Edney
7603521889
mediarelations@yourcvb.com
| Shareholder Financial Summary | ||||||||
| For Quarter End June 30, 2022 | ||||||||
| June 30, | ||||||||
| 2022 | 2021 | |||||||
| ASSETS | ||||||||
| Cash & Cash Equivalents | $ | 72,659,712 | $ | 51,165,013 | ||||
| Total Investments | 5,831,448 | 1,804,156 | ||||||
| Total Loans, Net | 204,248,090 | 211,418,336 | ||||||
| Total Earning Assets | $ | 282,739,251 | $ | 264,387,505 | ||||
| Other Assets | 12,297,973 | 11,665,045 | ||||||
| TOTAL ASSETS | $ | 295,037,224 | $ | 276,052,550 | ||||
| LIABILITIES | ||||||||
| Deposits | $ | 256,882,344 | $ | 240,561,059 | ||||
| Total Borrowings & Other Debt Obligations | 4,067,317 | 6,589,125 | ||||||
| Other Liabilities | 2,220,198 | 1,270,596 | ||||||
| TOTAL LIABILITIES | $ | 263,169,859 | $ | 248,420,780 | ||||
| SHAREHOLDER CAPITAL/EQUITY | ||||||||
| Total Stock, Equity, Retained Earnings | $ | 29,791,527 | $ | 25,493,895 | ||||
| Net Income | $ | 2,075,838 | $ | 2,137,875 | ||||
| TOTAL EQUITY/CAPITAL | $ | 31,867,365 | $ | 27,631,770 | ||||
| TOTAL LIBILITIES & CAPITAL/EQUITY | $ | 295,037,224 | $ | 276,052,550 | ||||
| STATEMENT OF INCOME AND EXPENSE | ||||||||
| Total Interest Income | $ | 5,568,452 | $ | 5,823,297 | ||||
| Total Interest Expense | (355,250 | ) | (411,725 | ) | ||||
| NET INTEREST INCOME | $ | 5,213,202 | $ | 5,411,571 | ||||
| Total Other Non-Interest Income | $ | 782,600 | $ | 527,312 | ||||
| Total Non-Interest Expenses | $ | (3,081,238 | ) | $ | (2,933,053 | ) | ||
| Provision for Loan Loss | – | – | ||||||
| INCOME BEFORE TAXES | $ | 2,914,564 | $ | 3,005,830 | ||||
| Income Tax Expense | $ | (838,726 | ) | $ | (867,955 | ) | ||
| NET INCOME | $ | 2,075,838 | $ | 2,137,875 | ||||
| RATIOS | ||||||||
| Return on Average Assets (ROAA) | 1.46 | % | 1.60 | % | ||||
| Return on Average Equity (ROAE) | 13.93 | % | 16.72 | % | ||||
| Earnings Per Share (Basic) | $ | 1.12 | $ | 0.93 | ||||
| Total Shares (Oustanding/Exercised) | 1,858,951 | 2,296,264 | ||||||
| Book Value | $ | 13.89 | $ | 12.04 | ||||
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