MADISON, Ind.--(EON: Enhanced Online News)--River Valley Bancorp (NASDAQ:RIVR), an Indiana corporation (the “Corporation”) and holding company for River Valley Financial Bank (the “Bank”), based in Madison, Indiana announced today that it has declared a cash dividend of $0.21 per share of its Common Stock for the quarter ending September 30, 2013. The annualized rate of the dividend reflects $0.84 per share.
The dividend record date will be as of September 27, 2013 and will be payable on October 11, 2013. This dividend represents the sixty-fifth consecutive dividend paid by the Corporation.
As announced on Wednesday, September 4, 2013, the Bank has entered into a definitive agreement to acquire a branch location in Osgood, Indiana from Old National Bank. That particular transaction is anticipated to close in the fourth quarter of 2013. The Bank has also applied for and received regulatory approval to open another branch location in Jeffersonville, IN with an anticipated opening in the first quarter of 2014.
River Valley Bancorp/River Valley Financial Bank is based in Madison, Indiana and has twelve bank locations. With the acquisition/merger with Dupont State Bank on November 9, 2012 the Bank has locations in Madison, Hanover, Charlestown, Sellersburg, Floyds Knobs, New Albany, Dupont, North Vernon, and Seymour Indiana area. Another office is located in Carrollton, KY.