Welcome to our dedicated page for Riverview Bancorp news (Ticker: RVSB), a resource for investors and traders seeking the latest updates and insights on Riverview Bancorp stock.
Riverview Bancorp Inc (NASDAQ: RVSB) maintains its position as a community-focused financial institution through strategic initiatives in commercial lending and trust services. This news hub provides investors and stakeholders with essential updates spanning corporate developments, financial disclosures, and community engagement efforts.
Access timely announcements including quarterly earnings reports, regulatory filings, leadership changes, and market expansion updates. Our curated collection serves as a reliable resource for understanding RVSB's operational decisions within the competitive Pacific Northwest banking landscape.
Key updates cover mortgage rate adjustments, small business lending programs, and trust service enhancements. Users will find official press releases alongside third-party analyses of RVSB's financial health and community impact initiatives.
Bookmark this page for streamlined access to critical information supporting informed decisions about this regional banking institution. Check regularly for updates reflecting RVSB's commitment to southwest Washington and Oregon communities through localized financial solutions.
Riverview Bancorp (Nasdaq: RVSB) announced its Q1 fiscal 2025 results, reporting earnings of $966,000 or $0.05 per diluted share. This is a significant decline compared to $2.8 million or $0.13 per share last year. Net interest income was $8.8 million, down from $10.4 million a year ago, while net interest margin (NIM) improved to 2.47% from the preceding quarter's 2.32%. Total loans increased by $21.1 million to $1.05 billion, but total deposits fell by $12.0 million to $1.22 billion.
Newly appointed CEO Nicole Sherman aims to focus on enhancing performance metrics and profitability. Asset quality remains robust with non-performing assets at $461,000 or 0.03% of total assets. The company recorded no provision for credit losses. Non-interest income rose to $3.4 million from $494,000 in the preceding quarter. However, non-interest expenses slightly increased due to higher salaries and occupancy costs.
Riverview Bancorp (Nasdaq: RVSB) announced a quarterly cash dividend of $0.02 per share, a $0.04 decrease from the previous quarter. The dividend will be paid on July 22, 2024, to shareholders on record as of July 10, 2024. Chairman Gerald L. Nies stated the decision, though difficult, aligns with the company's short-term and long-term objectives. Riverview Bancorp, headquartered in Vancouver, Washington, has assets totaling $1.52 billion as of March 31, 2024. The company offers community banking services through its 17 branches in the Portland-Vancouver area.
Riverview Bancorp announced Nicole Sherman as the new President and CEO, effective July 1, 2024. With over 25 years of experience, Sherman has a proven track record in community banking across the Pacific Northwest. Known for her financial innovation and leadership, she has held senior roles at Columbia Bank, Utah First, and others. Sherman's appointment follows an extensive national search led by Chartwell Partners. Dan Cox, the acting CEO, will return to his role as EVP and COO. Riverview Bancorp, headquartered in Vancouver, WA, has assets of $1.52 billion and operates 17 branches.
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