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El Centro, CA – 
We ended the 3rd quarter 2022 with a Community Bank Leverage Capital ratio of 11.24%, which puts the Bank 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 1.20% of total loans, excluding guaranteed portion of loans. Non-accrual loans remain very low at 0.88%. Both Board and Management believe the ALLL is fully funded at this time.
The September 30, 2022 book value of the common stock was $14.31 per share (diluted), while the common stock (CMUV) was trading at $14.10 as of the same date. ROAA through the 3rd quarter of 2022 was 1.45%, while ROAE came in at 13.90%.
As we celebrate our 15th Anniversary this month, we are very appreciative and grateful to all of you who have supported your locally owned community bank.
Jon A Edney
mediarelations@yourcvb.com
View the original release on www.newmediawire.com
| Shareholder Financial Summary | |||||||||
| For Quarter End September 30, 2022 | |||||||||
| September 30, | |||||||||
| 2022 | 2021 | ||||||||
| ASSETS | |||||||||
| Cash & Cash Equivalents | $ | 49,282,886 | $ | 53,063,943 | |||||
| Total Investments | 6,563,192 | 1,781,721 | |||||||
| Gross Loans | 211,049,790 | 206,136,340 | |||||||
| ALLL | (2,357,659 | ) | (2,233,030 | ) | |||||
| Total Earning Assets | $ | 264,538,209 | $ | 258,748,974 | |||||
| Other Assets | 12,127,821 | 11,870,551 | |||||||
| TOTAL ASSETS | $ | 276,666,030 | $ | 270,619,525 | |||||
| $ | – | ||||||||
| LIABILITIES | |||||||||
| Deposits | $ | 237,660,261 | $ | 233,815,785 | |||||
| Total Borrowings & Debt Obligations | 5,270,275 | 6,019,914 | |||||||
| Other Liabilities | 1,062,138 | 1,480,650 | |||||||
| TOTAL LIABILITIES | $ | 243,992,675 | $ | 241,316,349 | |||||
| SHAREHOLDER CAPITAL/EQUITY | |||||||||
| Total Stock, Equity, Retained Earnings | $ | 29,557,558 | $ | 25,161,372 | |||||
| Net Income | $ | 3,115,797 | $ | 4,141,804 | |||||
| TOTAL EQUITY/CAPITAL | $ | 32,673,355 | $ | 29,303,176 | |||||
| TOTAL LIBILITIES & CAPITAL/EQUITY | $ | 276,666,030 | $ | 270,619,525 | |||||
| STATEMENT OF INCOME AND EXPENSE | |||||||||
| Total Interest Income | $ | 8,697,679 | $ | 9,568,900 | |||||
| Total Interest Expense | (616,505 | ) | (581,460 | ) | |||||
| NET INTEREST INCOME | $ | 8,081,175 | $ | 8,987,440 | |||||
| Total Other Non-Interest Income | $ | 977,092 | $ | 1,246,878 | |||||
| Total Non-Interest Expenses | $ | (4,684,186 | ) | $ | (4,395,922 | ) | |||
| Provision for Loan Loss | – | – | |||||||
| INCOME BEFORE TAXES | $ | 4,374,081 | $ | 5,838,396 | |||||
| $ | – | ||||||||
| Income Tax Expense | $ | (1,258,284 | ) | $ | (1,696,592 | ) | |||
| NET INCOME | $ | 3,115,797 | $ | 4,141,804 | |||||
| RATIOS | |||||||||
| Return on Average Assets (ROAA) | 1.45 | % | 2.04 | % | |||||
| Return on Average Equity (ROAE) | 13.90 | % | 21.56 | % | |||||
| Earnings Per Share (Basic) – 3rd Quarter | $ | 0.56 | $ | 0.91 | |||||
| Earnings Per Share (Basic) – YTD | $ | 1.68 | $ | 1.88 | |||||
| Total Shares (Oustanding/Exercised) | 1,859,481 | 2,208,120 | |||||||
| Book Value | $ | 14.31 | $ | 13.33 | |||||
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