Riverview Bancorp Inc Stock Price, News & Analysis

Riverview Bancorp, Inc. (RVSB) announced a quarterly cash dividend of $0.06 per share, consistent with the previous quarter. This dividend will be payable on April 20, 2023, to shareholders of record on April 10, 2023, resulting in an annualized dividend yield of 4.47%. With total assets of $1.60 billion as of December 31, 2022, Riverview Bancorp operates 17 branches and has been recognized as the Best Bank by readers of local publications for nine consecutive years. The company remains focused on community banking and delivering quality financial services.

Riverview Bancorp, Inc. (RVSB) reported third-quarter earnings of $5.2 million, or $0.24 per diluted share, unchanged from the prior quarter but down from $5.5 million a year ago, which included a $1.3 million recapture of loan loss provisions. Year-to-date fiscal 2023 net income reached $15.1 million, down from $17.7 million in the same period last year. Notably, Riverview's net interest income increased to $13.7 million, with a net interest margin of 3.48%. Operating expenses were controlled, although total deposits decreased by 8.3% to $1.37 billion. The bank maintained a strong capital ratio of 16.71% and paid a quarterly cash dividend of $0.06 per share.

Riverview Bancorp, Inc. (RVSB) announced a quarterly cash dividend of $0.06 per share, unchanged from the previous quarter. The dividend is payable on January 16, 2023, for shareholders of record by January 4, 2023, reflecting a 3.20% annualized yield based on the current share price. With assets totaling $1.68 billion as of September 30, 2022, Riverview specializes in community banking and boasts 17 branches in the Portland-Vancouver area.

Riverview Bancorp, Inc. has appointed Evan Sowers as the new president and CEO of Riverview Trust Company. With over 22 years of experience in finance and banking, Sowers aims to enhance services for high net worth clients while leveraging his expertise in financial planning and wealth management. The company, headquartered in Vancouver, Washington, reported $1.68 billion in assets as of September 30, 2022. Riverview Bank has consistently been recognized as a leading community bank, having won accolades for Best Bank for nine consecutive years.

Riverview Bancorp (RVSB) announced a stock repurchase program allowing the company to buy back up to $2.5 million of its shares from November 28, 2022, to May 28, 2023, depending on market conditions. This initiative aims to enhance shareholder value. The Board has authorized creating a Rule 10b5-1 plan with Keefe, Bruyette & Woods to facilitate these repurchases even during trading restrictions. As of September 30, 2022, Riverview had $1.68 billion in assets and operates 17 branches, focusing on high-quality community banking services.