The parent company of Community Valley Bank, CMUV Bancorp (OTC:CMUV) was one of the companies to have hit the news cycle on April 19 after it announced its financial results for the fiscal quarter that ended on March 31, 2024. CMUV Bancorp posted net income of $948754 for the quarter, which worked out to earnings of $0.53 a share. The total assets with the holding company at the end of the quarter hit $302.3 million, while the total deposits stood at $264 million and the gross loans at the end of the quarter totaled $239.7 million.
It was also announced that the Community Bank Leverage Capital ratio of Community Valley Bank was 11.94% at the end of the quarter and that represented a ratio that was considerably above the threshold to be considered a well capitalized bank. The allowance for credit losses stood at $2590899 at the end of the quarter and the percentage of non-accrual and past due loans stood at a lowly 0.18% as on March 31, 2024. The company also announced that the book value for its shares was $16.42 per diluted share, however the CMUV Bancorp common share was trading at $17.08 on March 31, 2024.
However, that was not all. The company also announced that the CMUV Bancorp annual meeting of shareholders would take place on May 23, 2024 at 10 am at the bank branch belonging to the company at 310 Main Street in Brawley, California. CMUV Bancorp encouraged its shareholders to be present at the meeting in person, however, if they were unable to do so then they could cast their votes via mail or online. In light of the strong performance from CMUV Bancorp in the first fiscal quarter and the announcement of the annual meeting could both bring the stock into focus this week.
 Stock In Focus After 1st Quarter Financial Results){kind=link}