CMUV Bancorp has announced its financial results for the first quarter of 2025, revealing a net income of $405,669, which equates to $0.23 per share. This performance is a testament to the bank's solid financial foundation, with total assets and deposits standing at $305.2 million and $282.4 million, respectively. The bank's Community Bank Leverage Capital ratio of 10.82% not only surpasses regulatory requirements but also underscores its well-capitalized status. Furthermore, the low percentage of non-accrual and past due loans at 0.23% reflects the institution's careful and responsible lending approach.
As of March 31, 2025, the book value of CMUV Bancorp's common stock was reported at $17.81 per share, with the stock trading at $21.30. The bank achieved a return on average assets (ROAA) of 0.52% and a return on average equity (ROAE) of 4.52%, indicators of its efficient management and profitability. A pivotal aspect of this quarter's results is the proposed transaction with Frontwave Credit Union, announced earlier in the year, which has contributed to the quarter's earnings through associated transaction expenses.
In preparation for this significant strategic move, CMUV Bancorp has scheduled a Special Shareholder Meeting on July 15, 2025, at its Brawley, California branch. This meeting will focus on obtaining shareholder approval for the transaction with Frontwave Credit Union and the subsequent dissolution of CMUV Bancorp. Shareholders are anticipated to receive proxy materials by mid-June, offering detailed insights into the proposed transaction and the specific proposals for vote. This development marks a critical juncture for CMUV Bancorp, as it seeks to navigate its future path through strategic partnerships and transactions.
