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Share Name | Share Symbol | Market | Type |
---|---|---|---|
(MM) | NASDAQ:RIVR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 34.32 | 0 | 01:00:00 |
Date of report (Date of earliest event reported): October 21, 2014
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River Valley Bancorp
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(Exact Name of Registrant as Specified in Its Charter)
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Indiana
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0-21765
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35-1984567
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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430 Clifty Drive, P.O. Box 1590, Madison, Indiana
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47250-0590
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(Address of Principal Executive Offices)
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(Zip Code)
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(812) 273-4949
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(Registrant's Telephone Number, Including Area Code)
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N/A
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(Former Name or Former Address, if Changed Since Last Report)
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Exhibit No.
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Description
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99.1
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Press Release, dated October 21, 2014
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Date: October 22, 2014
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River Valley Bancorp
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By:
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/s/ Vickie L. Grimes
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Vickie L. Grimes
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Vice President of Finance
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Exhibit Number
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Exhibit Description
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Location
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99.1
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Press Release, dated October 21, 2014
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Attached
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·
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The completion on July 15, 2014 of the issuance of 946,390 shares of additional common stock through a public offering at a price of $20.50 per share. That capital issuance yielded $18.1 million in net proceeds.
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·
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Outstanding net loan balances grew by $5.0 million over the preceding twelve-month period, while deposit balances grew by $8.4 million. Overall, with the addition of the capital, total assets grew by $17.9 million from the balances recorded as of September 30, 2013.
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·
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Classified assets, defined as substandard assets (primarily loans or investments) and real estate owned, showed a 27.1% improvement, period to period. Those problem assets dropped from $23.0 million as of September 30, 2013 to $16.8 million on September 30, 2014.
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·
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Losses associated with holding and disposing of real estate owned and premises held for sale decreased by $319,000 for the like periods.
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Noninterest expense for the third quarter increased $244,000 over the third quarter 2013, primarily as the result of increases in salaries and benefits during 2014.
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At or for the
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At or for the
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Three Months Ended
September 30,
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Nine Months Ended
September 30,
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2014
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2013
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2014
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2013
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(Dollar Amounts In Thousands, Except Per Share Amounts)
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Assets
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$
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504,485
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$
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486,559
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Net loans, including loans held for sale (net of ALL)
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322,167
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317,123
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Allowance for loan losses (ALL)
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3,940
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4,340
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Deposits
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397,102
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388,704
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Borrowings and advances
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46,881
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59,717
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Stockholders' equity
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56,288
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34,295
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Total interest income
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$
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4,909
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$
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5,104
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14,508
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14,815
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Total noninterest income
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1,071
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1,091
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3,319
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3,737
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Loss on real estate held for sale and premises
held for sale
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(34
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)
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(353
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)
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(305
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)
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(543
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)
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Interest expense
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839
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1,015
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2,599
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3,170
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Noninterest expense
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3,517
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3,273
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10,325
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9,647
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Provision for loan losses
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149
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20
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347
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656
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Tax expense
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322
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398
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926
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1,206
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Net income
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1,119
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1,136
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3,325
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3,330
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ROAA
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0.88
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%
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0.94
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%
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0.90
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%
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0.93
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%
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ROAE
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7.90
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13.41
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10.26
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12.72
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Earnings per common share
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$
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0.42
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$
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0.68
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$
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1.66
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$
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2.00
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Diluted earnings per common share
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0.42
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0.68
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1.66
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2.00
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Book value per common share
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20.40
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19.16
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Tangible book value per common share
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20.18
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18.82
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At or For the Nine Months Ended September 30,
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||||||||
2014
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2013
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(In Thousands, Except Share Data)
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Total stockholders' equity
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$
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56,288
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$
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34,295
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Less:
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Preferred equity
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5,000
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5,000
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Goodwill and intangible assets (not including deferred tax assets)
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556
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518
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Tangible common equity
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$
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50,732
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$
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28,777
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Common shares outstanding at period end
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2,513,696
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1,529,106
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Book value per common share
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$
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20.40
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$
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19.16
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Effect of intangible assets
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(0.22
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)
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(0.34
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)
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Tangible book value per common share
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$
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20.18
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$
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18.82
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