EL CENTRO, CA, April 19, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited 1st Quarter results for the quarter ending March 31, 2024. Net income for the quarter was $948,754 which equaled $0.53 per share. Total assets reached $302.3 MM by the end of the quarter, total deposits came in at $264MM, and gross loans ended the quarter at $239.7MM. CVB's Community Bank Leverage Capital ratio ended the quarter at 11.94%, which is well above the ratio required to be considered a well-capitalized bank. Our Allowance for Credit Losses ended the quarter at $2,590,899, and non-accrual and past due loans remain very low at 0.18%. Both the Board and Management believe the ACL is fully funded at quarter's end. The book value for the common stock was $16.42 per share (diluted) on March 31, 2024, however the common stock (CMUV) was trading at $17.08 on this date. ROAA for the quarter was 1.29% and ROAE came in at 10.99%. The CMUV Annual Shareholders Meeting will take place at 10:00 a.m. on May 23, 2024, at our branch located at 310 Main Street in Brawley, California.  We welcome our shareholders to attend the meeting in person if possible, but if you are unable to attend in person, please vote on-line or by mail. Your proxy card, a copy of the Annual Report and the audited financial statements are now available for shareholder review. Please take the opportunity to review and vote as it is essential for us to have a proper quorum in order to conduct and take action on appropriate CMUV business. Community Vally Bank / CMUV Bancorp   Financial Summary   For Quarter Ending March 31, 2024                     March 31,           2024     2023     ASSETS         Cash & Cash Equivalents $ 42,248,433   $ 51,255,071       Total Investments   7,417,126     7,288,854       Gross Loans   239,782,161     224,962,070       ACL   (2,590,899 )   (2,421,467 )      Total Earning Assets    $ 286,856,821   $ 281,084,528                   Other Assets   15,403,350     11,993,220                   TOTAL ASSETS $ 302,260,172   $ 293,077,747