central valley comm bancorp (CVCY) Snapshot

The Board of Directors of Central Valley Community Bancorp has declared a regular quarterly cash dividend of $0.05 per share on the Company's common stock. The dividend is payable on May 31, 2013 to shareholders of record as of May 15, 2013.

Central Valley Community Bancorp reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income available to common shareholders was $1,706,000 or $0.18 diluted earnings per share against net income available to common shareholders of $1,625,000 or $0.17 diluted earnings per share a year ago. Net income was $1,793,000 and net interest income after provision for credit losses was $6,845,000 against net income of $1,713,000 and net interest income after provision for credit losses of $7,266,000 a year ago. Income before provision for income taxes was $2,155,000 against $2,006,000 a year ago. As on date, book value per share was $11.53 against $10.82 per share a year ago. Return on average assets was 0.82% and return on average equity was 6.11% against return on average assets of 0.82% and return on average equity of 6.19% a year ago. Net income increased 4.67%, primarily driven by increases in non-interest income and lower provision for credit losses, partially offset by a slight increase in non-interest expense and a decrease in net interest income in 2013 compared to 2012. ROE decreased, notwithstanding an increase in net income, due to an increase in capital resulting from an increase in retained earnings, offset by a decrease in other comprehensive income. Net interest income decreased as a result of these yield changes, asset mix changes explained above, and an increase in interest-bearing liabilities, partially offset by an increase in average earning assets. The company also announced net loan charge offs was $644,000 against $1,511,000 a year ago.

Central Valley Community Bancorp, Annual General Meeting, May 15, 2013., at 18:00 Pacific Standard Time. Location: 7100 n. financial drive, suite 101. Agenda: To elect directors; to ratify the appointment of Crowe Horwath LLP as the company’s independent public accountants; to adopt a non-binding advisory resolution approving executive compensation; and to transact such other business as may properly come before the Annual Meeting.