CMUV Bancorp Reports Q1 Earnings and Announces Special Shareholder Meeting
TL;DR
CMUV Bancorp reported strong 1st Quarter results with a net income of $405,669, positioning them well in the market.
Total assets of $305.2MM, deposits of $282.4MM, and gross loans of $268MM contributed to CMUV Bancorp's successful quarter.
CMUV Bancorp's well-capitalized status and low credit losses help ensure stability and trust for their customers and shareholders.
CMUV Bancorp plans a Special Shareholder Meeting on July 15, 2025, for the proposed transaction with Frontwave Credit Union.
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CMUV Bancorp, the holding company for Community Valley Bank, reported solid financial performance for the first quarter of 2025, with net income of $405,669 and earnings of $0.23 per share. The bank's financial stability is evident through its robust asset base of $305.2 million and total deposits of $282.4 million.
The bank's financial indicators paint a picture of resilience. Its Community Bank Leverage Capital ratio of 10.82% significantly exceeds regulatory requirements for a well-capitalized institution. Non-accrual and past due loans remain exceptionally low at 0.23%, suggesting strong credit risk management.
Investors will find notable the bank's book value of $17.81 per share, which was trading at $21.30 on March 31, 2025. The quarter's financial performance yielded a return on average assets (ROAA) of 0.52% and a return on average equity (ROAE) of 4.52%.
A significant development is the upcoming special shareholder meeting on July 15, 2025, where shareholders will vote on the proposed transaction with Frontwave Credit Union. This meeting, replacing the typical annual gathering, will seek approval for the transaction and the subsequent dissolution of CMUV Bancorp. The meeting will be held at the bank's Brawley, California branch at 9:00 a.m. local time.
Shareholders will receive proxy materials by mid-June, detailing the proposed transaction and voting proposals. The quarter's earnings were partially impacted by expenses related to this potential merger, highlighting the strategic considerations behind the proposed combination.
Curated from NewMediaWire
