We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Riverview Bancorp Inc | NASDAQ:RVSB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.38 | 9.97% | 4.19 | 4.00 | 4.30 | 4.90 | 3.80 | 3.85 | 76,419 | 21:56:04 |
|
|
|
|||
(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
|
(I.R.S. Employer
Identification No.)
|
|
|
||
(Address of principal executive offices)
|
(Zip Code)
|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions.
|
|
|
|
|
Title of each class
|
Trading Symbol(s) | Name of each exchange on which registered | ||
|
RVSB
|
|
|
RIVERVIEW BANCORP, INC.
|
|
|
|
|
Date: July 27, 2023
|
/S/ David Lam
|
|
David Lam
Chief Financial Officer
(Principal Financial Officer)
|
|
Contact:
|
Kevin Lycklama or David Lam
Riverview Bancorp, Inc. 360-693-6650
|
|
•
|
Net income was $2.8 million, or $0.13 per diluted share.
|
•
|
Pre-tax, pre-provision for credit losses income (non-GAAP) was $3.7 million for the quarter, compared to $4.8 million for
the preceding quarter, and $6.0 million for the year ago quarter.
|
•
|
Net interest income was $10.4 million for the quarter, compared to $11.8 million in the preceding quarter and $12.7 million
in the first fiscal quarter a year ago.
|
•
|
Net interest margin (“NIM”) was 2.79% for the quarter, compared to 3.16% in the preceding quarter and 3.11% for the year ago
quarter.
|
•
|
Return on average assets was 0.72% and return on average equity was 7.31%.
|
•
|
Asset quality remained strong, with non-performing assets excluding SBA and USDA government guaranteed loans (non-GAAP) at
$210,000, or 0.01% of total assets at June 30, 2023.
|
•
|
Riverview recorded no provision for credit losses during the current quarter, compared to a $750,000 provision for credit
losses during the preceding quarter, and no provision for credit losses in the first fiscal quarter a year ago.
|
•
|
The allowance for credit losses was $15.3 million, or 1.53% of total loans.
|
•
|
Total loans were $1.00 billion at June 30, 2023, compared to $1.01 billion three months earlier and one year earlier.
|
•
|
Total deposits were $1.24 billion compared to $1.27 billion three months earlier.
|
•
|
Riverview has approximately $231.1 million in available liquidity at June 30, 2023, including $175.7 million of borrowing
capacity from Federal Home Loan Bank of Des Moines (“FHLB”) and $55.4 million from the Federal Reserve Bank of San Francisco (“FRB”). Riverview has access but has yet to utilize the Federal Reserve Bank’s Bank Term Funding Program ("BTFP").
At June 30, 2023, the Bank had $136.1 million in outstanding FHLB borrowings.
|
•
|
The uninsured deposit ratio was 15.9% at June 30, 2023.
|
•
|
Total risk-based capital ratio was 16.82% and Tier 1 leverage ratio was 10.54%.
|
•
|
Paid a quarterly cash dividend during the quarter of $0.06 per share.
|
Tangible shareholders' equity to tangible assets and tangible book value per share:
|
||||||||||||
(Dollars in thousands)
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
Shareholders' equity (GAAP)
|
$
|
154,066
|
$
|
155,239
|
$
|
154,433
|
||||||
Exclude: Goodwill
|
(27,076
|
)
|
(27,076
|
)
|
(27,076
|
)
|
||||||
Exclude: Core deposit intangible, net
|
(352
|
)
|
(379
|
)
|
(466
|
)
|
||||||
Tangible shareholders' equity (non-GAAP)
|
$
|
126,638
|
$
|
127,784
|
$
|
126,891
|
||||||
Total assets (GAAP)
|
$
|
1,582,817
|
$
|
1,589,712
|
$
|
1,697,711
|
||||||
Exclude: Goodwill
|
(27,076
|
)
|
(27,076
|
)
|
(27,076
|
)
|
||||||
Exclude: Core deposit intangible, net
|
(352
|
)
|
(379
|
)
|
(466
|
)
|
||||||
Tangible assets (non-GAAP)
|
$
|
1,555,389
|
$
|
1,562,257
|
$
|
1,670,169
|
||||||
Shareholders' equity to total assets (GAAP)
|
9.73
|
%
|
9.77
|
%
|
9.10
|
%
|
||||||
Tangible common equity to tangible assets (non-GAAP)
|
8.14
|
%
|
8.18
|
%
|
7.60
|
%
|
||||||
Shares outstanding
|
21,115,919
|
22,221,960
|
21,943,160
|
|||||||||
Book value per share (GAAP)
|
$
|
7.30
|
$
|
7.32
|
$
|
7.04
|
||||||
Tangible book value per share (non-GAAP)
|
$
|
6.00
|
$
|
6.02
|
$
|
5.78
|
||||||
Pre-tax, pre-provision income
|
||||||||||||
Three Months Ended
|
||||||||||||
(Dollars in thousands)
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
Net income (GAAP)
|
$
|
2,843
|
$
|
2,983
|
$
|
4,652
|
||||||
Include: Provision for income taxes
|
823
|
1,102
|
1,366
|
|||||||||
Include: Provision for credit losses
|
-
|
750
|
-
|
|||||||||
Pre-tax, pre-provision income (non-GAAP)
|
$
|
3,666
|
$
|
4,835
|
$
|
6,018
|
Allowance for credit losses reconciliation, excluding SBA purchased and PPP loans
|
||||||||||||
(Dollars in thousands)
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
Allowance for credit losses
|
$
|
15,343
|
$
|
15,309
|
$
|
14,559
|
||||||
Loans receivable (GAAP)
|
$
|
1,004,407
|
$
|
1,008,856
|
$
|
1,012,465
|
||||||
Exclude: SBA purchased loans
|
(54,963
|
)
|
(55,488
|
)
|
(59,943
|
)
|
||||||
Loans receivable excluding SBA purchased loans (non-
GAAP)
|
$
|
949,444
|
$
|
953,368
|
$
|
952,522
|
||||||
Allowance for credit losses to loans receivable (GAAP)
|
1.53
|
%
|
1.52
|
%
|
1.44
|
%
|
||||||
Allowance for credit losses to loans receivable excluding
SBA purchased and PPP loans (non-GAAP)
|
1.62
|
%
|
1.61
|
%
|
1.53
|
%
|
Non-performing loans reconciliation, excluding SBA Government Guaranteed Loans
|
||||||||||||
Three Months Ended
|
||||||||||||
(Dollars in thousands)
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
Non-performing loans (GAAP)
|
$
|
1,025
|
$
|
1,852
|
$
|
27,534
|
||||||
Less: Non-performing SBA Government Guaranteed loans
|
(815
|
)
|
(1,587
|
)
|
(27,272
|
)
|
||||||
Adjusted non-performing loans excluding SBA
Government Guaranteed loans (non-GAAP)
|
$
|
210
|
$
|
265
|
$
|
262
|
||||||
Non-performing loans to total loans (GAAP)
|
0.10
|
%
|
0.18
|
%
|
2.72
|
%
|
||||||
Non-performing loans, excluding SBA Government
Guaranteed loans to total loans (non-GAAP)
|
0.02
|
%
|
0.03
|
%
|
0.03
|
%
|
||||||
Non-performing loans to total assets (GAAP)
|
0.06
|
%
|
0.12
|
%
|
1.62
|
%
|
||||||
Non-performing loans, excluding SBA Government
Guaranteed loans to total assets (non-GAAP)
|
0.01
|
%
|
0.02
|
%
|
0.02
|
%
|
RIVERVIEW BANCORP, INC. AND SUBSIDIARY
|
||||||||||||
Consolidated Balance Sheets
|
||||||||||||
(In thousands, except share data) (Unaudited)
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
ASSETS
|
||||||||||||
Cash (including interest-earning accounts of $15,771, $10,397,
|
$
|
29,947
|
$
|
22,044
|
$
|
141,836
|
||||||
and $127,859)
|
||||||||||||
Certificate of deposits held for investment
|
-
|
249
|
249
|
|||||||||
Investment securities:
|
||||||||||||
Available for sale, at estimated fair value
|
204,319
|
211,499
|
181,697
|
|||||||||
Held to maturity, at amortized cost
|
239,853
|
243,843
|
256,002
|
|||||||||
Loans receivable (net of allowance for credit losses of $15,343,
|
||||||||||||
$15,309 and $14,559)
|
989,064
|
993,547
|
997,906
|
|||||||||
Prepaid expenses and other assets
|
14,147
|
15,950
|
26,925
|
|||||||||
Accrued interest receivable
|
4,765
|
4,790
|
5,012
|
|||||||||
Federal Home Loan Bank stock, at cost
|
7,360
|
6,867
|
2,019
|
|||||||||
Premises and equipment, net
|
21,692
|
20,119
|
16,973
|
|||||||||
Financing lease right-of-use assets
|
1,259
|
1,278
|
1,336
|
|||||||||
Deferred income taxes, net
|
10,998
|
10,286
|
9,060
|
|||||||||
Goodwill
|
27,076
|
27,076
|
27,076
|
|||||||||
Core deposit intangible, net
|
352
|
379
|
466
|
|||||||||
Bank owned life insurance
|
31,985
|
31,785
|
31,154
|
|||||||||
TOTAL ASSETS
|
$
|
1,582,817
|
$
|
1,589,712
|
$
|
1,697,711
|
||||||
LIABILITIES AND SHAREHOLDERS' EQUITY
|
||||||||||||
LIABILITIES:
|
||||||||||||
Deposits
|
$
|
1,243,322
|
$
|
1,265,217
|
$
|
1,495,605
|
||||||
Accrued expenses and other liabilities
|
19,631
|
15,730
|
18,026
|
|||||||||
Advance payments by borrowers for taxes and insurance
|
574
|
625
|
523
|
|||||||||
Junior subordinated debentures
|
26,940
|
26,918
|
26,854
|
|||||||||
Federal Home Loan Bank advances
|
136,069
|
123,754
|
-
|
|||||||||
Finance lease liability
|
2,215
|
2,229
|
2,270
|
|||||||||
Total liabilities
|
1,428,751
|
1,434,473
|
1,543,278
|
|||||||||
SHAREHOLDERS' EQUITY:
|
||||||||||||
Serial preferred stock, $.01 par value; 250,000 authorized,
|
||||||||||||
issued and outstanding, none
|
-
|
-
|
-
|
|||||||||
Common stock, $.01 par value; 50,000,000 authorized,
|
||||||||||||
June 30, 2023 – 21,115,919 issued and outstanding;
|
||||||||||||
March 31, 2023 – 21,221,960 issued and outstanding;
|
211
|
212
|
219
|
|||||||||
June 30, 2022 – 22,154,170 issued and 21,943,160 outstanding;
|
||||||||||||
Additional paid-in capital
|
55,016
|
55,511
|
60,838
|
|||||||||
Retained earnings
|
119,351
|
117,826
|
108,266
|
|||||||||
Accumulated other comprehensive loss
|
(20,512
|
)
|
(18,310
|
)
|
(14,890
|
)
|
||||||
Total shareholders’ equity
|
154,066
|
155,239
|
154,433
|
|||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
|
$
|
1,582,817
|
$
|
1,589,712
|
$
|
1,697,711
|
RIVERVIEW BANCORP, INC. AND SUBSIDIARY
|
||||||||||||
Consolidated Statements of Income
|
||||||||||||
Three Months Ended
|
||||||||||||
(In thousands, except share data) (Unaudited)
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
INTEREST INCOME:
|
||||||||||||
Interest and fees on loans receivable
|
$
|
11,210
|
$
|
11,248
|
$
|
10,897
|
||||||
Interest on investment securities - taxable
|
2,334
|
2,381
|
1,834
|
|||||||||
Interest on investment securities - nontaxable
|
66
|
65
|
66
|
|||||||||
Other interest and dividends
|
347
|
247
|
397
|
|||||||||
Total interest and dividend income
|
13,957
|
13,941
|
13,194
|
|||||||||
INTEREST EXPENSE:
|
||||||||||||
Interest on deposits
|
1,373
|
605
|
281
|
|||||||||
Interest on borrowings
|
2,225
|
1,522
|
252
|
|||||||||
Total interest expense
|
3,598
|
2,127
|
533
|
|||||||||
Net interest income
|
10,359
|
11,814
|
12,661
|
|||||||||
Provision for credit losses
|
-
|
750
|
-
|
|||||||||
Net interest income after provision for credit losses
|
10,359
|
11,064
|
12,661
|
|||||||||
NON-INTEREST INCOME:
|
||||||||||||
Fees and service charges
|
1,600
|
1,459
|
1,721
|
|||||||||
Asset management fees
|
1,381
|
1,275
|
1,160
|
|||||||||
Bank owned life insurance ("BOLI")
|
200
|
195
|
190
|
|||||||||
Other, net
|
104
|
42
|
55
|
|||||||||
Total non-interest income, net
|
3,285
|
2,971
|
3,126
|
|||||||||
NON-INTEREST EXPENSE:
|
||||||||||||
Salaries and employee benefits
|
6,043
|
6,163
|
5,952
|
|||||||||
Occupancy and depreciation
|
1,583
|
1,571
|
1,514
|
|||||||||
Data processing
|
674
|
538
|
778
|
|||||||||
Amortization of core deposit intangible
|
27
|
29
|
29
|
|||||||||
Advertising and marketing
|
313
|
229
|
197
|
|||||||||
FDIC insurance premium
|
177
|
183
|
116
|
|||||||||
State and local taxes
|
226
|
263
|
191
|
|||||||||
Telecommunications
|
53
|
51
|
50
|
|||||||||
Professional fees
|
343
|
277
|
301
|
|||||||||
Other
|
539
|
646
|
641
|
|||||||||
Total non-interest expense
|
9,978
|
9,950
|
9,769
|
|||||||||
INCOME BEFORE INCOME TAXES
|
3,666
|
4,085
|
6,018
|
|||||||||
PROVISION FOR INCOME TAXES
|
823
|
1,102
|
1,366
|
|||||||||
NET INCOME
|
$
|
2,843
|
$
|
2,983
|
$
|
4,652
|
||||||
Earnings per common share:
|
||||||||||||
Basic
|
$
|
0.13
|
$
|
0.14
|
$
|
0.21
|
||||||
Diluted
|
$
|
0.13
|
$
|
0.14
|
$
|
0.21
|
||||||
Weighted average number of common shares outstanding:
|
||||||||||||
Basic
|
21,136,097
|
21,391,759
|
22,027,874
|
|||||||||
Diluted
|
21,141,184
|
21,400,278
|
22,037,320
|
(Dollars in thousands)
|
At or for the three months ended
|
|||||||||||
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
||||||||||
AVERAGE BALANCES
|
||||||||||||
Average interest–earning assets
|
$
|
1,496,201
|
$
|
1,518,641
|
$
|
1,635,048
|
||||||
Average interest-bearing liabilities
|
1,013,649
|
991,470
|
1,056,807
|
|||||||||
Net average earning assets
|
482,552
|
527,171
|
578,241
|
|||||||||
Average loans
|
1,001,103
|
1,012,975
|
995,066
|
|||||||||
Average deposits
|
1,250,358
|
1,315,519
|
1,518,961
|
|||||||||
Average equity
|
156,460
|
155,146
|
156,636
|
|||||||||
Average tangible equity (non-GAAP)
|
129,015
|
127,673
|
129,080
|
ASSET QUALITY
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
Non-performing loans
|
$
|
1,025
|
$
|
1,852
|
$
|
27,534
|
||||||
Non-performing loans excluding SBA Government Guarantee (non-GAAP)
|
$
|
210
|
$
|
265
|
$
|
262
|
||||||
Non-performing loans to total loans
|
0.10
|
%
|
0.18
|
%
|
2.72
|
%
|
||||||
Non-performing loans to total loans excluding SBA Government Guarantee (non-GAAP)
|
0.02
|
%
|
0.03
|
%
|
0.03
|
%
|
||||||
Real estate/repossessed assets owned
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
Non-performing assets
|
$
|
1,025
|
$
|
1,852
|
$
|
27,534
|
||||||
Non-performing assets excluding SBA Government Guarantee (non-GAAP)
|
$
|
210
|
$
|
265
|
$
|
262
|
||||||
Non-performing assets to total assets
|
0.06
|
%
|
0.12
|
%
|
1.62
|
%
|
||||||
Non-performing assets to total assets excluding SBA Government Guarantee (non-GAAP)
|
0.01
|
%
|
0.02
|
%
|
0.02
|
%
|
||||||
Net loan charge-offs (recoveries) in the quarter
|
$
|
8
|
$
|
(1
|
)
|
$
|
(36
|
)
|
||||
Net charge-offs (recoveries) in the quarter/average net loans
|
0.00
|
%
|
0.00
|
%
|
(0.01
|
)%
|
||||||
Allowance for credit losses
|
$
|
15,343
|
$
|
15,309
|
$
|
14,559
|
||||||
Average interest-earning assets to average
|
||||||||||||
interest-bearing liabilities
|
147.61
|
%
|
153.17
|
%
|
154.72
|
%
|
||||||
Allowance for credit losses to
|
||||||||||||
non-performing loans
|
1496.88
|
%
|
826.62
|
%
|
52.88
|
%
|
||||||
Allowance for credit losses to total loans
|
1.53
|
%
|
1.52
|
%
|
1.44
|
%
|
||||||
Shareholders’ equity to assets
|
9.73
|
%
|
9.77
|
%
|
9.10
|
%
|
||||||
CAPITAL RATIOS
|
||||||||||||
Total capital (to risk weighted assets)
|
16.82
|
%
|
16.94
|
%
|
16.31
|
%
|
||||||
Tier 1 capital (to risk weighted assets)
|
15.56
|
%
|
15.69
|
%
|
15.06
|
%
|
||||||
Common equity tier 1 (to risk weighted assets)
|
15.56
|
%
|
15.69
|
%
|
15.06
|
%
|
||||||
Tier 1 capital (to average tangible assets)
|
10.54
|
%
|
10.47
|
%
|
9.29
|
%
|
||||||
Tangible common equity (to average tangible assets) (non-GAAP)
|
8.14
|
%
|
8.18
|
%
|
7.60
|
%
|
DEPOSIT MIX
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
Interest checking
|
$
|
240,942
|
$
|
254,522
|
$
|
301,047
|
||||||
Regular savings
|
231,838
|
255,147
|
326,337
|
|||||||||
Money market deposit accounts
|
242,558
|
221,778
|
281,300
|
|||||||||
Non-interest checking
|
381,834
|
404,937
|
476,618
|
|||||||||
Certificates of deposit
|
146,150
|
128,833
|
110,303
|
|||||||||
Total deposits
|
$
|
1,243,322
|
$
|
1,265,217
|
$
|
1,495,605
|
COMPOSITION OF COMMERCIAL AND CONSTRUCTION LOANS
|
||||||||||||||||
Other
|
Commercial
|
|||||||||||||||
Commercial
|
Real Estate
|
Real Estate
|
& Construction
|
|||||||||||||
Business
|
Mortgage
|
Construction
|
Total
|
|||||||||||||
June 30, 2023
|
(Dollars in thousands)
|
|||||||||||||||
Commercial business
|
$
|
244,725
|
$
|
-
|
$
|
-
|
$
|
244,725
|
||||||||
Commercial construction
|
-
|
-
|
32,159
|
32,159
|
||||||||||||
Office buildings
|
-
|
116,156
|
-
|
116,156
|
||||||||||||
Warehouse/industrial
|
-
|
108,936
|
-
|
108,936
|
||||||||||||
Retail/shopping centers/strip malls
|
-
|
81,986
|
-
|
81,986
|
||||||||||||
Assisted living facilities
|
-
|
392
|
-
|
392
|
||||||||||||
Single purpose facilities
|
-
|
249,169
|
-
|
249,169
|
||||||||||||
Land
|
-
|
6,367
|
-
|
6,367
|
||||||||||||
Multi-family
|
-
|
54,340
|
-
|
54,340
|
||||||||||||
One-to-four family construction
|
-
|
-
|
11,781
|
11,781
|
||||||||||||
Total
|
$
|
244,725
|
$
|
617,346
|
$
|
43,940
|
$
|
906,011
|
||||||||
March 31, 2023
|
||||||||||||||||
Commercial business
|
$
|
232,868
|
$
|
-
|
$
|
-
|
$
|
232,868
|
||||||||
Commercial construction
|
-
|
-
|
29,565
|
29,565
|
||||||||||||
Office buildings
|
-
|
117,045
|
-
|
117,045
|
||||||||||||
Warehouse/industrial
|
-
|
106,693
|
-
|
106,693
|
||||||||||||
Retail/shopping centers/strip malls
|
-
|
82,700
|
-
|
82,700
|
||||||||||||
Assisted living facilities
|
-
|
396
|
-
|
396
|
||||||||||||
Single purpose facilities
|
-
|
257,662
|
-
|
257,662
|
||||||||||||
Land
|
-
|
6,437
|
-
|
6,437
|
||||||||||||
Multi-family
|
-
|
55,836
|
-
|
55,836
|
||||||||||||
One-to-four family construction
|
-
|
-
|
18,197
|
18,197
|
||||||||||||
Total
|
$
|
232,868
|
$
|
626,769
|
$
|
47,762
|
$
|
907,399
|
LOAN MIX
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
Commercial and construction
|
(Dollars in thousands)
|
|||||||||||
Commercial business
|
$
|
244,725
|
$
|
232,868
|
$
|
227,023
|
||||||
Other real estate mortgage
|
617,346
|
626,769
|
647,363
|
|||||||||
Real estate construction
|
43,940
|
47,762
|
30,754
|
|||||||||
Total commercial and construction
|
906,011
|
907,399
|
905,140
|
|||||||||
Consumer
|
||||||||||||
Real estate one-to-four family
|
96,607
|
99,673
|
105,775
|
|||||||||
Other installment
|
1,789
|
1,784
|
1,550
|
|||||||||
Total consumer
|
98,396
|
101,457
|
107,325
|
|||||||||
Total loans
|
1,004,407
|
1,008,856
|
1,012,465
|
|||||||||
Less:
|
||||||||||||
Allowance for credit losses
|
15,343
|
15,309
|
14,559
|
|||||||||
Loans receivable, net
|
$
|
989,064
|
$
|
993,547
|
$
|
997,906
|
DETAIL OF NON-PERFORMING ASSETS
|
||||||||||||
Southwest
|
||||||||||||
Washington
|
Other
|
Total
|
||||||||||
June 30, 2023
|
(Dollars in thousands)
|
|||||||||||
Commercial business
|
$
|
74
|
$
|
-
|
$
|
74
|
||||||
Commercial real estate
|
95
|
-
|
95
|
|||||||||
Consumer
|
41
|
-
|
41
|
|||||||||
Subtotal
|
210
|
-
|
210
|
|||||||||
SBA Government Guaranteed
|
-
|
815
|
815
|
|||||||||
Total non-performing assets
|
$
|
210
|
$
|
815
|
$
|
1,025
|
At or for the three months ended
|
||||||||||||
SELECTED OPERATING DATA
|
June 30, 2023
|
March 31, 2023
|
June 30, 2022
|
|||||||||
Efficiency ratio (4)
|
73.13
|
%
|
67.30
|
%
|
61.88
|
%
|
||||||
Coverage ratio (6)
|
103.82
|
%
|
118.73
|
%
|
129.60
|
%
|
||||||
Return on average assets (1)
|
0.72
|
%
|
0.76
|
%
|
1.08
|
%
|
||||||
Return on average equity (1)
|
7.31
|
%
|
7.80
|
%
|
11.91
|
%
|
||||||
Return on average tangible equity (1) (non-GAAP)
|
8.86
|
%
|
9.48
|
%
|
14.46
|
%
|
||||||
NET INTEREST SPREAD
|
||||||||||||
Yield on loans
|
4.50
|
%
|
4.50
|
%
|
4.39
|
%
|
||||||
Yield on investment securities
|
2.05
|
%
|
2.07
|
%
|
1.74
|
%
|
||||||
Total yield on interest-earning assets
|
3.76
|
%
|
3.73
|
%
|
3.24
|
%
|
||||||
Cost of interest-bearing deposits
|
0.65
|
%
|
0.28
|
%
|
0.11
|
%
|
||||||
Cost of FHLB advances and other borrowings
|
5.61
|
%
|
5.46
|
%
|
3.47
|
%
|
||||||
Total cost of interest-bearing liabilities
|
1.43
|
%
|
0.87
|
%
|
0.20
|
%
|
||||||
Spread (7)
|
2.33
|
%
|
2.86
|
%
|
3.04
|
%
|
||||||
Net interest margin
|
2.79
|
%
|
3.16
|
%
|
3.11
|
%
|
||||||
PER SHARE DATA
|
||||||||||||
Basic earnings per share (2)
|
$
|
0.13
|
$
|
0.14
|
$
|
0.21
|
||||||
Diluted earnings per share (3)
|
0.13
|
0.14
|
0.21
|
|||||||||
Book value per share (5)
|
7.30
|
7.32
|
7.04
|
|||||||||
Tangible book value per share (5) (non-GAAP)
|
6.00
|
6.02
|
5.78
|
|||||||||
Market price per share:
|
||||||||||||
High for the period
|
$
|
5.55
|
$
|
7.90
|
$
|
7.56
|
||||||
Low for the period
|
4.17
|
5.25
|
6.09
|
|||||||||
Close for period end
|
5.04
|
5.34
|
6.58
|
|||||||||
Cash dividends declared per share
|
0.0600
|
0.0600
|
0.0600
|
|||||||||
Average number of shares outstanding:
|
||||||||||||
Basic (2)
|
21,136,097
|
21,391,759
|
22,027,874
|
|||||||||
Diluted (3)
|
21,141,184
|
21,400,278
|
22,037,320
|
(1)
|
Amounts for the periods shown are annualized.
|
(2)
|
Amounts exclude ESOP shares not committed to be released.
|
(3)
|
Amounts exclude ESOP shares not committed to be released and include common stock equivalents.
|
(4)
|
Non-interest expense divided by net interest income and non-interest income.
|
(5)
|
Amounts calculated based on shareholders’ equity and include ESOP shares not committed to be released.
|
(6)
|
Net interest income divided by non-interest expense.
|
(7)
|
Yield on interest-earning assets less cost of funds on interest-bearing liabilities.
|
Document and Entity Information |
Jul. 27, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jul. 27, 2023 |
Entity File Number | 000-22957 |
Entity Registrant Name | RIVERVIEW BANCORP, INC. |
Entity Central Index Key | 0001041368 |
Entity Incorporation, State or Country Code | WA |
Entity Tax Identification Number | 91-1838969 |
Entity Address, Address Line One | 900 Washington Street |
Entity Address, Address Line Two | Suite 900 |
Entity Address, City or Town | Vancouver |
Entity Address, State or Province | WA |
Entity Address, Postal Zip Code | 98660 |
City Area Code | 360 |
Local Phone Number | 693-6650 |
Entity Emerging Growth Company | false |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(g) Security | Common Stock, Par Value $0.01 per share |
No Trading Symbol Flag | true |
Security Exchange Name | NASDAQ |
1 Year Riverview Bancorp Chart |
1 Month Riverview Bancorp Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions