1. MVLY reported Q1 2025 net income of $1.6 million, down from $1.7 million. 2. The board declared a cash dividend of $0.15 per share for Q1 2025. 3. Deposit growth of $40.7 million highlights strong core deposit initiatives. 4. Management is monitoring loan portfolio impacts due to potential tariffs. 5. This marks the fourth consecutive year of cash dividends for MVLY.
The slight net income decrease is overshadowed by strong deposit growth and sustained dividends, historically leading to positive price movements.
The announcement of a dividend and strong operating results indicate solid company health, making this news significantly relevant for MVLY's future performance.
The immediate announcement of dividend payments typically leads to short-term stock price increases, as seen in similar institutions.
/PRNewswire/ -- Mission Valley Bancorp (OTCQX: MVLY, "Mission Valley", or the "Company") announced today net income of $1.6 million, or $0.47 per diluted share, for the first quarter of 2025, compared to a net income of $1.7 million, or $0.51 per diluted share, for the first quarter of 2024.
Mission Valley's board of directors declared a cash dividend of $0.15 per share on April 22, 2025. The dividend will be payable on or about June 2, 2025 to shareholders of record as of the close of business on May 19, 2025.
Tamara Gurney, President and Chief Executive Officer, commented, "Coming on the heels of a stellar 2024, I am proud to report our strong operating results for the first quarter highlighted by deposit growth of $40.7 million, as our core deposit initiatives continue to gain traction, and net income of $1.6 million. Our credit quality remains solid and we are closely and proactively monitoring our loan portfolio for the potential impact of tariffs."
Ms. Gurney continued, "Lastly, I am pleased to announce cash dividends for the fourth consecutive year in the amount of $0.15 per common share."
Mission Valley Bancorp is a bank holding company headquartered in Sun Valley, California with two wholly owned subsidiaries Mission Valley Bank (the "Bank") and Mission SBA Loan Servicing LLC ("Mission SBA"). The Bank was founded in 2001 and is a full-service, independent, commercial bank specializing in the banking needs of small to medium businesses with full service branches in the San Fernando & Santa Clarita Valleys. Mission SBA is a de novo SBA lender service provider ("LSP") established in March 2021 that provides SBA lending services to other financial institutions.
Certain matters discussed in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current management expectations and, therefore, are subject to certain risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. Forward-looking statements are effective only as of the date that they are made and the Company assumes no obligation to update this information. www.MissionValleyBank.com.
SOURCE Mission Valley Bancorp