CVB's Community Bank Leverage Capital ratio ended the quarter at 11.71%, which is well above the ratio required to be considered a well-capitalized bank. Our Allowance for Credit Losses ended the quarter at $2,697,627, and non-accrual and past-due loans remained very low at 0.96%. Both the Board and Management believe the ACL is fully funded at quarter's end.
The book value for the common stock was $17.30 per share (diluted) on September 30, 2024. The common stock (CMUV) was trading at $18.25 on this date. ROAA for the quarter was 1.36% and ROAE came in at 12.02%.
The first three quarters of 2024 saw the bank exceed expectations in regard to net income, total assets, and loans. Our expectations are for a continued healthy demand for business and investment loans as we continue through the fourth quarter of 2024.
Community Vally Bank / CMUV Bancorp
Financial Summary
For Quarter Ending September 30, 2024
BALANCE SHEET
September 30,
2024
2023
ASSETS
Cash & Cash Equivalents
$
34,778,590
$
52,443,464
Total Investments
7,198,675
7,436,640
Gross Loans
261,101,594
223,440,706
ACL
(2,697,627
)
(2,447,223
)
Total Earning Assets
$
300,381,233
$
280,873,586
Other Assets
15,465,927
14,601,831
TOTAL ASSETS
$
315,847,160
$
295,475,417
LIABILITIES
Deposits
$
276,264,417
$
258,001,925
