Stock Analysis Report

Crystal Valley Financial

Executive Summary

Crystal Valley Financial Corporation operates as the holding company for First State Bank that provides various personal and business banking products and services in Northern Indiana.

Snowflake Analysis

Good value with adequate balance sheet.

Share Price & News

How has Crystal Valley Financial's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: CYVF has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




US Banks


US Market

1 Year Return




US Banks


US Market

Return vs Industry: CYVF exceeded the US Banks industry which returned 10.3% over the past year.

Return vs Market: CYVF underperformed the US Market which returned 17.9% over the past year.

Shareholder returns

7 Day0%-1.2%-1.1%
30 Day0.9%-0.3%1.4%
90 Day2.7%-0.9%6.9%
1 Year15.7%13.0%13.5%10.3%20.3%17.9%
3 Year44.7%35.3%24.0%15.1%47.8%38.3%
5 Year140.6%117.3%73.8%54.1%71.9%53.0%

Price Volatility Vs. Market

How volatile is Crystal Valley Financial's share price compared to the market and industry in the last 5 years?

Simply Wall St News

No news available


Is Crystal Valley Financial undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: CYVF ($56.5) is trading below our estimate of fair value ($64.77)

Significantly Below Fair Value: CYVF is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: CYVF is good value based on its PE Ratio (9.5x) compared to the Banks industry average (12.6x).

PE vs Market: CYVF is good value based on its PE Ratio (9.5x) compared to the US market (18.2x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CYVF's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: CYVF is good value based on its PB Ratio (1.1x) compared to the US Banks industry average (1.2x).

Next Steps

Future Growth

How is Crystal Valley Financial forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Crystal Valley Financial has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

  • Examine whether Crystal Valley Financial is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Crystal Valley Financial's filings and announcements here.
  • Explore growth companies in the Banks industry.

Past Performance

How has Crystal Valley Financial performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CYVF has high quality earnings.

Growing Profit Margin: CYVF's current net profit margins (32.9%) are higher than last year (32.8%).

Past Earnings Growth Analysis

Earnings Trend: CYVF's earnings have grown by 16.4% per year over the past 5 years.

Accelerating Growth: CYVF's earnings growth over the past year (7%) is below its 5-year average (16.4% per year).

Earnings vs Industry: CYVF earnings growth over the past year (7%) underperformed the Banks industry 12.2%.

Return on Equity

High ROE: CYVF's Return on Equity (12.1%) is considered low.

Return on Assets

Return on Capital Employed

Next Steps

Financial Health

How is Crystal Valley Financial's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Inventory Level: CYVF has a low level of unsold assets or inventory.

Debt Coverage by Assets: CYVF's debt is not covered by short term assets (assets are 0.5x debt).

Financial Institutions Analysis

Asset Level: CYVF's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if CYVF has a sufficient allowance for bad loans.

Low Risk Liabilities: CYVF's liabilities are made up of primarily low risk sources of funding.

Loan Level: CYVF has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CYVF's loans are broadly funded by customer deposits.

Level of Bad Loans: Insufficient data to determine if CYVF has an appropriate level of bad loans.

Next Steps


What is Crystal Valley Financial's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market


Current dividend yield vs market & industry

Notable Dividend: CYVF's dividend (2.34%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CYVF's dividend (2.34%) is low compared to the top 25% of dividend payers in the US market (3.73%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CYVF has been paying a dividend for less than 10 years.

Growing Dividend: CYVF's dividend payments have increased, but the company has only paid a dividend for 5 years.

Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.9%), CYVF's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average board tenure


D. Caffee 0




Mr. D. Joe Caffee serves as President, Chief Executive Officer and Director at Crystal Valley Financial Corporation and First State Bank of Middlebury. Raised as a farm boy and trained to be an educator, D ...

Board Members

D. Caffee
President6.1yrsno data0.091% $78.9k
Sam Hoover
Executive VP23.1yrsno data16.62% $14.5m
Derald Bontrager
Director13.1yrsno data0.38% $333.2k
James Hiatt
Director0yrsno data0.31% $271.9k
R. Lord
Chairman of the Board17.1yrsno data0.53% $464.8k
Carl Eash
Secretary & Director0yrsno data2.1% $1.8m
Cynthia Gillard
Director13.1yrsno data0.091% $78.9k
Joe Smucker
Director17.1yrsno data0.10% $87.7k
John Gardner
Director10.1yrsno data0.25% $219.2k


Average Tenure

Experienced Board: CYVF's board of directors are seasoned and experienced ( 13.1 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Crystal Valley Financial Corporation's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Crystal Valley Financial Corporation
  • Ticker: CYVF
  • Exchange: OTCPK
  • Founded: 1910
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$87.201m
  • Shares outstanding: 1.54m
  • Website: https://www.bfirst.bank


  • Crystal Valley Financial Corporation
  • 111 South Main Street
  • Middlebury
  • Indiana
  • 46540
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CYVFOTCPK (Pink Sheets LLC)YesCommon StockUSUSDMar 2004


Crystal Valley Financial Corporation operates as the holding company for First State Bank that provides various personal and business banking products and services in Northern Indiana. Its deposits products include checking, savings, money market, health savings, and individual retirement accounts, as well as certificates of deposit. The company also provides auto, home, personal, mortgage, construction, and home equity loans; and commercial loans and lines, term loans, lines of credit, agricultural loans, commercial real estate, letters of credit, and small business administration loans. In addition, it offers trust, wealth management, and investment services; and various insurance services, including automobile, homeowners, renters/tenants, mobile home coverage, agriculture, general liability, property, workmen’s compensation, life, and health insurance. Further, the company offers credit cards, telephone banking, reorder checks, merchant card, cash management, remote deposit, online and mobile banking, and bill payment services. It serves customers through a network of six offices located in Elkhart and St. Joseph counties of Northern Indiana. Crystal Valley Financial Corporation was founded in 1910 and is based in Middlebury, Indiana. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 01:10
End of Day Share Price2020/02/21 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.