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Riverview Bancorp, Inc. reports developments for a Vancouver, Washington savings and loan holding company that owns Riverview Bank and Riverview Trust Company. Its news centers on community banking results in the Portland-Vancouver and Southwest Washington markets, including commercial and business lending, deposits, credit quality, net interest income and net interest margin.
Announcements also cover treasury management and digital banking capabilities, securities portfolio repositioning, cash dividends, common-stock repurchase authorization and board composition changes. The company serves commercial, business and retail clients through bank branches and lending centers, while Riverview Trust Company anchors its trust and investment services activity.
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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.