Riverview Bancorp Reports Net Income of $1.1 Million in Second Fiscal Quarter 2026
Rhea-AI Summary
Riverview Bancorp (NASDAQ: RVSB) reported Q2 FY2026 net income of $1.1M or $0.05 diluted EPS for quarter ended Sept 30, 2025, down from $1.6M a year ago and $1.2M in prior quarter. Net interest income was $9.8M and NIM expanded to 2.76% (+30 bps vs Q2 2024). Non-interest expense rose to $12.2M; efficiency ratio 89.8%. Loans totaled $1.07B with $56.4M originations and a $78.5M loan pipeline. Deposits were $1.24B. Company paid a $0.02 quarterly dividend and has a $2.0M share repurchase plan.
Positive
- Net interest income of $9.8M
- Net interest margin expanded +30 bps YoY to 2.76%
- New loan originations of $56.4M (nearly double prior quarter)
- Loan pipeline of $78.5M at Sept 30, 2025
- Deposits increased by $26.5M to $1.24B
- Paid quarterly dividend of $0.02 and $2.0M buyback plan
Negative
- Q2 net income declined to $1.1M from $1.6M year-ago
- Non-interest expense rose to $12.2M (efficiency ratio 89.8%)
- Non-performing loans increased to 0.07% of total loans
News Market Reaction 1 Alert
On the day this news was published, RVSB gained 1.18%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
FISCAL Q2 2026 HIGHLIGHTS
| Net Income | Diluted Earnings per Common Share | Tangible Book Value per Share | NPAs to Total Assets |
Fiscal Second Quarter Comparison Highlights
| Net Interest Income and Net Interest Margin |
| Credit Quality |
| |
| Non-Interest Income and Non-Interest Expense |
| Shareholder Returns and Stock Activity |
|
VANCOUVER, Wash., Oct. 28, 2025 (GLOBE NEWSWIRE) -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported earnings of
In the first six months of fiscal 2026, net income was
“We remain focused on what matters most to our shareholders: driving return on assets, unlocking revenue opportunities, and improving operational efficiency,” stated Nicole Sherman, President and Chief Executive Officer. “While short-term expenses have increased due to targeted investments in talent and technology, we are already seeing meaningful results, particularly within our commercial and business banking segments. We remain focused on providing exceptional services to our clients while building strong banking relationships in our communities. Our loan pipeline is the strongest it has ever been, supported by the strategic expansion of our lending teams, enhanced treasury management capabilities, and continued investment in digital platforms. Loan demand remains strong across the markets we serve, and we are well positioned to meet that demand with quality, profitable growth. As a result, loan production is rising, our net interest margin has increased from a year ago, and we are making steady progress in profitability. Deposit balances have remained stable year over year, capital levels are strong, and our sound credit quality continues to be reflected in low delinquencies and nonperforming loans.
Earlier this year, we began executing our three-year strategic plan focused on sustainable growth, digital innovation, and data empowerment to deliver tailored client experiences and operational efficiencies,” Sherman continued. “Looking ahead, we remain committed to pursuing growth across our commercial and industrial, business banking, and treasury management platforms, while maintaining a clear focus on efficiency and long-term value creation.”
Franchise Footprint
As the only bank headquartered in Vancouver, Washington, our footprint includes one of the fastest growing regions of the state of Washington. Clark County, located in southwest Washington, has a robust and changing job market. Its largest city, Vancouver, has shifted from being a bedroom community of neighboring Portland, Oregon and in recent years has developed into a major center of population and employment in southwest Washington. Clark County’s major industries include health care and social assistance, construction, manufacturing, and professional and business services. The employment rate and median household income continue to rise and are on par with the Washington statewide median. Given the attractiveness to live and work in Clark County, the housing market continues to thrive. The median home sale price in Clark County continues to increase year over year. Clark County’s economy continues to show solid underlying strength, which supports ongoing opportunities for community-focused lending and deposit growth.
Our footprint includes Northwest Oregon that presents strong economic fundamentals and provides a stable foundation for growth in the state. The region features a diversified economy anchored by technology, advanced manufacturing, and consumer goods sectors, with major employers like Intel, Nike, and Columbia Sportswear driving substantial economic activity alongside a thriving small business ecosystem. Strong median household incomes and median home prices indicate robust consumer spending power and wealth accumulation. Employment rates in the greater Portland market have remained relatively stable, hovering near national averages despite recent economic headwinds including pandemic-related disruptions and cost pressures. The local business environment continues to support innovation and sustainability-focused enterprises, while its infrastructure, transportation networks, and quality of life attributes continue to support business expansion.
Income Statement Review
Riverview’s net interest income was
Riverview’s NIM was
Investment securities decreased
Riverview’s yield on loans was
Non-interest income was
Asset management fees were
Non-interest expense was
Riverview’s effective tax rate for the second fiscal quarter of 2026 was
Balance Sheet Review
Total loans increased
Undisbursed construction loans totaled
Loan repricing and maturities for fiscal year 2026 totaled
The office building loan portfolio totaled
Total deposits increased
FHLB advances decreased
Shareholders’ equity increased to
Credit Quality
“Maintaining asset quality is a key focus amid ongoing economic uncertainty,” said Robert Benke, EVP and Chief Credit Officer. “We are proactively managing our portfolio by carefully tracking loan growth, portfolio composition, and both regional and national economic indicators to ensure our allowance levels remain prudent and well-aligned with evolving conditions while working with relationship managers to deepening client relationships.” Non-performing loans, excluding SBA and USDA government guaranteed loans (“government guaranteed loans”) (non-GAAP) totaled
Riverview recorded
Classified assets were
The allowance for credit losses was
Capital/Liquidity
Riverview continues to maintain strong capital levels in excess of the regulatory requirements to be categorized as “well capitalized” with a total risk-based capital ratio of
Riverview has approximately
The uninsured deposit ratio was
On April 24, 2025, the Company’s Board of Directors adopted a stock repurchase program. Under this repurchase program, the Company may repurchase up to
Non-GAAP Financial Measures
In addition to results presented in accordance with generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures. Management has presented these non-GAAP financial measures in this earnings release because it believes that they provide useful and comparative information to assess trends in Riverview's core operations reflected in the current quarter's results and facilitate the comparison of our performance with the performance of our peers. However, these non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP. Where applicable, comparable earnings information using GAAP financial measures is also presented. Because not all companies use the same calculations, our presentation may not be comparable to other similarly titled measures as calculated by other companies. For a reconciliation of these non-GAAP financial measures, see the tables below.
| Tangible shareholders' equity to tangible assets and tangible book value per share: | ||||||||||||||||
| (Dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | March 31, 2025 | ||||||||||||
| Shareholders' equity (GAAP) | $ | 163,537 | $ | 162,001 | $ | 160,774 | $ | 160,014 | ||||||||
| Exclude: Goodwill | (27,076 | ) | (27,076 | ) | (27,076 | ) | (27,076 | ) | ||||||||
| Exclude: Core deposit intangible, net | (124 | ) | (147 | ) | (221 | ) | (171 | ) | ||||||||
| Tangible shareholders' equity (non-GAAP) | $ | 136,337 | $ | 134,778 | $ | 133,477 | $ | 132,767 | ||||||||
| Total assets (GAAP) | $ | 1,509,544 | $ | 1,516,643 | $ | 1,548,397 | $ | 1,513,323 | ||||||||
| Exclude: Goodwill | (27,076 | ) | (27,076 | ) | (27,076 | ) | (27,076 | ) | ||||||||
| Exclude: Core deposit intangible, net | (124 | ) | (147 | ) | (221 | ) | (171 | ) | ||||||||
| Tangible assets (non-GAAP) | $ | 1,482,344 | $ | 1,489,420 | $ | 1,521,100 | $ | 1,486,076 | ||||||||
| Shareholders' equity to total assets (GAAP) | 10.83 | % | 10.68 | % | 10.38 | % | 10.57 | % | ||||||||
| Tangible common equity to tangible assets (non-GAAP) | 9.20 | % | 9.05 | % | 8.78 | % | 8.93 | % | ||||||||
| Shares outstanding | 20,927,503 | 20,976,200 | 21,096,968 | 20,976,200 | ||||||||||||
| Book value per share (GAAP) | $ | 7.81 | $ | 7.72 | $ | 7.62 | $ | 7.63 | ||||||||
| Tangible book value per share (non-GAAP) | $ | 6.51 | $ | 6.43 | $ | 6.33 | $ | 6.33 | ||||||||
| Pre-tax, pre-provision income | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||
| (Dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | ||||||||||||||
| Net income (loss) (GAAP) | $ | 1,099 | $ | 1,225 | $ | 1,557 | $ | 2,324 | $ | 2,523 | |||||||||
| Include: Provision (credit) for income taxes | 296 | 322 | 425 | 618 | 678 | ||||||||||||||
| Include: Provision for credit losses | - | - | 100 | - | 100 | ||||||||||||||
| Pre-tax, pre-provision income (loss) (non-GAAP) | $ | 1,395 | $ | 1,547 | $ | 2,082 | $ | 2,942 | $ | 3,301 | |||||||||
| Allowance for credit losses reconciliation, excluding Government Guaranteed loans | |||||||||||||||||||
| (Dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | March 31, 2025 | |||||||||||||||
| Allowance for credit losses | $ | 15,427 | $ | 15,426 | $ | 15,466 | $ | 15,374 | |||||||||||
| Loans receivable (GAAP) | $ | 1,070,191 | $ | 1,068,080 | $ | 1,060,977 | $ | 1,062,460 | |||||||||||
| Exclude: Government Guaranteed loans | (44,575 | ) | (46,965 | ) | (49,983 | ) | (47,373 | ) | |||||||||||
| Loans receivable excluding Government Guaranteed loans (non-GAAP) | $ | 1,025,616 | $ | 1,021,115 | $ | 1,010,994 | $ | 1,015,087 | |||||||||||
| Allowance for credit losses to loans receivable (GAAP) | 1.44 | % | 1.44 | % | 1.46 | % | 1.45 | % | |||||||||||
| Allowance for credit losses to loans receivable excluding Government Guaranteed loans (non-GAAP) | 1.50 | % | 1.51 | % | 1.53 | % | 1.51 | % | |||||||||||
| Non-performing loans reconciliation, excluding Government Guaranteed Loans | |||||||||||||||||||
| Three Months Ended | |||||||||||||||||||
| (Dollars in thousands) | September 30, 2025 | June 30, 2025 | September 30, 2024 | ||||||||||||||||
| Non-performing loans (GAAP) | $ | 776 | $ | 143 | $ | 450 | |||||||||||||
| Less: Non-performing Government Guaranteed loans | - | - | (301 | ) | |||||||||||||||
| Adjusted non-performing loans excluding Government Guaranteed loans (non-GAAP) | $ | 776 | $ | 143 | $ | 149 | |||||||||||||
| Non-performing loans to total loans (GAAP) | 0.07 | % | 0.01 | % | 0.04 | % | |||||||||||||
| Non-performing loans, excluding Government Guaranteed loans to total loans (non-GAAP) | 0.07 | % | 0.01 | % | 0.01 | % | |||||||||||||
| Non-performing loans to total assets (GAAP) | 0.05 | % | 0.01 | % | 0.03 | % | |||||||||||||
| Non-performing loans, excluding Government Guaranteed loans to total assets (non-GAAP) | 0.05 | % | 0.01 | % | 0.01 | % | |||||||||||||
About Riverview
Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington – just north of Portland, Oregon, on the I-5 corridor. With assets of
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements which include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions, future economic performance and projections of financial items. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by our forward-looking statements, including, but not limited to: potential adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company's business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession, the failure of the U.S. Congress to increase the debt ceiling, or slowed economic growth caused by increasing political instability from acts of war including Russia’s invasion of Ukraine, as well as supply chain disruptions, recent bank failures and any governmental or societal responses thereto; the credit risks of lending activities, including changes in the level and trend of loan delinquencies and write-offs and changes in the Company’s allowance for credit losses and provision for credit losses that may be impacted by deterioration in the housing and commercial real estate markets; changes in the levels of general interest rates, and the relative differences between short and long-term interest rates, deposit interest rates, the Company’s net interest margin and funding sources; the transition away from London Interbank Offered Rate toward new interest rate benchmarks; fluctuations in the demand for loans, the number of unsold homes, land and other properties and fluctuations in real estate values in the Company’s market areas; secondary market conditions for loans and the Company’s ability to originate loans for sale and sell loans in the secondary market; results of examinations of the Bank by the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions, Division of Banks, and of the Company by the Board of Governors of the Federal Reserve System, or other regulatory authorities, including the possibility that any such regulatory authority may, among other things, require the Company to increase its allowance for credit losses, write-down assets, reclassify its assets, change the Bank’s regulatory capital position or affect the Company’s ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; legislative or regulatory changes that adversely affect the Company’s business including changes in banking, securities and tax law, and in regulatory policies and principles, or the interpretation of regulatory capital or other rules; the Company’s ability to attract and retain deposits; the unexpected outflow of uninsured deposits that may require us to sell investment securities at a loss; the Company’s ability to control operating costs and expenses; the use of estimates in determining fair value of certain of the Company’s assets, which estimates may prove to be incorrect and result in significant declines in valuation; difficulties in reducing risks associated with the loans on the Company’s consolidated balance sheet; staffing fluctuations in response to product demand or the implementation of corporate strategies that affect the Company’s workforce and potential associated charges; disruptions, security breaches or other adverse events, failures or interruptions in or attacks on our information technology systems or on the third-party vendors who perform several of our critical processing functions; the Company’s ability to retain key members of its senior management team; costs and effects of litigation, including settlements and judgments; the Company’s ability to implement its business strategies; the Company's ability to successfully integrate any assets, liabilities, customers, systems, and management personnel it may acquire into its operations and the Company's ability to realize related revenue synergies and cost savings within expected time frames; future goodwill impairment due to changes in Riverview’s business, changes in market conditions, or other factors; increased competitive pressures among financial services companies; changes in consumer spending, borrowing and savings habits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; the Company’s ability to pay dividends on its common stock; the quality and composition of our securities portfolio and the impact of and adverse changes in the securities markets, including market liquidity; inability of key third-party providers to perform their obligations to us; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board, including additional guidance and interpretation on accounting issues and details of the implementation of new accounting standards; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; and other economic, competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products and services, and the other risks described from time to time in our reports filed with and furnished to the U.S. Securities and Exchange Commission.
The Company cautions readers not to place undue reliance on any forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company. The Company does not undertake and specifically disclaims any obligation to revise any forward-looking statements included in this report or the reasons why actual results could differ from those contained in such statements, whether as a result of new information or to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for fiscal 2026 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s consolidated financial condition and consolidated results of operations as well as its stock price performance.
| RIVERVIEW BANCORP, INC. AND SUBSIDIARY | |||||||||||||||
| Consolidated Balance Sheets | |||||||||||||||
| (In thousands, except share and per share data) (Unaudited) | September 30, 2025 | June 30, 2025 | September 30, 2024 | March 31, 2025 | |||||||||||
| ASSETS | |||||||||||||||
| Cash and cash equivalents (including interest-earning accounts of | $ | 32,809 | $ | 34,172 | $ | 30,960 | $ | 29,414 | |||||||
| Investment securities: | |||||||||||||||
| Available for sale, at estimated fair value | 118,447 | 118,777 | 132,953 | 119,436 | |||||||||||
| Held to maturity, at amortized cost | 192,759 | 197,478 | 221,991 | 203,079 | |||||||||||
| Loans receivable (net of allowance for credit losses of | |||||||||||||||
| 1,054,764 | 1,052,654 | 1,045,511 | 1,047,086 | ||||||||||||
| Prepaid expenses and other assets | 12,349 | 12,455 | 13,585 | 12,523 | |||||||||||
| Accrued interest receivable | 4,473 | 4,493 | 4,570 | 4,525 | |||||||||||
| Federal Home Loan Bank ("FHLB") stock, at cost | 3,257 | 5,516 | 5,557 | 4,342 | |||||||||||
| Premises and equipment, net | 21,667 | 21,867 | 22,956 | 22,304 | |||||||||||
| Financing lease right-of-use asset | 1,087 | 1,106 | 1,163 | 1,125 | |||||||||||
| Deferred income taxes, net | 7,826 | 8,286 | 8,688 | 8,625 | |||||||||||
| Goodwill | 27,076 | 27,076 | 27,076 | 27,076 | |||||||||||
| Core deposit intangible ("CDI"), net | 124 | 147 | 221 | 171 | |||||||||||
| Bank owned life insurance ("BOLI") | 32,906 | 32,616 | 33,166 | 33,617 | |||||||||||
| TOTAL ASSETS | $ | 1,509,544 | $ | 1,516,643 | $ | 1,548,397 | $ | 1,513,323 | |||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||
| LIABILITIES: | |||||||||||||||
| Deposits | $ | 1,236,424 | $ | 1,209,893 | $ | 1,237,499 | $ | 1,232,328 | |||||||
| Accrued expenses and other liabilities | 27,229 | 12,498 | 17,789 | 14,777 | |||||||||||
| Advance payments by borrowers for taxes and insurance | 858 | 558 | 848 | 614 | |||||||||||
| FHLB advances | 52,300 | 102,500 | 102,304 | 76,400 | |||||||||||
| Junior subordinated debentures | 27,135 | 27,113 | 27,048 | 27,091 | |||||||||||
| Finance lease liability | 2,061 | 2,080 | 2,135 | 2,099 | |||||||||||
| Total liabilities | 1,346,007 | 1,354,642 | 1,387,623 | 1,353,309 | |||||||||||
| SHAREHOLDERS' EQUITY: | |||||||||||||||
| Serial preferred stock, $.01 par value; 250,000 authorized, | |||||||||||||||
| issued and outstanding, none | - | - | - | - | |||||||||||
| Common stock, $.01 par value; 50,000,000 authorized, | |||||||||||||||
| September 30, 2025 – 20,927,503 issued and outstanding; | |||||||||||||||
| June 30, 2025 – 20,976,200 issued and outstanding; | 207 | 208 | 211 | 208 | |||||||||||
| September 30, 2024 – 21,096,968 issued and outstanding; | |||||||||||||||
| March 31, 2025 – 20,976,200 issued and outstanding; | |||||||||||||||
| Additional paid-in capital | 52,900 | 53,501 | 55,057 | 53,392 | |||||||||||
| Retained earnings | 121,203 | 120,522 | 118,179 | 119,717 | |||||||||||
| Accumulated other comprehensive loss | (10,773 | ) | (12,230 | ) | (12,673 | ) | (13,303 | ) | |||||||
| Total shareholders’ equity | 163,537 | 162,001 | 160,774 | 160,014 | |||||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 1,509,544 | $ | 1,516,643 | $ | 1,548,397 | $ | 1,513,323 | |||||||
| RIVERVIEW BANCORP, INC. AND SUBSIDIARY | ||||||||||||
| Consolidated Statements of Income | ||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||
| (In thousands, except share and per share data) (Unaudited) | Sept. 30, 2025 | June 30, 2025 | Sept. 30, 2024 | Sept. 30, 2025 | Sept. 30, 2024 | |||||||
| INTEREST INCOME: | ||||||||||||
| Interest and fees on loans receivable | $ | 13,667 | $ | 13,352 | $ | 12,683 | $ | 27,019 | $ | 24,735 | ||
| Interest on investment securities - taxable | 1,395 | 1,667 | 1,874 | 3,062 | 3,846 | |||||||
| Interest on investment securities - nontaxable | 65 | 65 | 65 | 130 | 130 | |||||||
| Other interest and dividends | 245 | 291 | 320 | 536 | 630 | |||||||
| Total interest and dividend income | 15,372 | 15,375 | 14,942 | 30,747 | 29,341 | |||||||
| INTEREST EXPENSE: | ||||||||||||
| Interest on deposits | 4,360 | 3,774 | 3,855 | 8,134 | 7,302 | |||||||
| Interest on borrowings | 1,231 | 1,760 | 2,145 | 2,991 | 4,276 | |||||||
| Total interest expense | 5,591 | 5,534 | 6,000 | 11,125 | 11,578 | |||||||
| Net interest income | 9,781 | 9,841 | 8,942 | 19,622 | 17,763 | |||||||
| Provision for credit losses | - | - | 100 | - | 100 | |||||||
| Net interest income after provision for credit losses | 9,781 | 9,841 | 8,842 | 19,622 | 17,663 | |||||||
| NON-INTEREST INCOME: | ||||||||||||
| Fees and service charges | 1,637 | 1,572 | 1,524 | 3,209 | 3,064 | |||||||
| Asset management fees | 1,527 | 1,552 | 1,433 | 3,079 | 2,991 | |||||||
| Income from BOLI | 290 | 222 | 279 | 512 | 490 | |||||||
| Other, net | 386 | 80 | 605 | 466 | 663 | |||||||
| Total non-interest income, net | 3,840 | 3,426 | 3,841 | 7,266 | 7,208 | |||||||
| NON-INTEREST EXPENSE: | ||||||||||||
| Salaries and employee benefits | 7,304 | 7,247 | 6,477 | 14,551 | 12,865 | |||||||
| Occupancy and depreciation | 1,859 | 1,868 | 1,921 | 3,727 | 3,816 | |||||||
| Data processing | 778 | 742 | 695 | 1,520 | 1,459 | |||||||
| Amortization of CDI | 23 | 24 | 25 | 47 | 50 | |||||||
| Advertising and marketing | 333 | 237 | 367 | 570 | 677 | |||||||
| FDIC insurance premium | 171 | 164 | 166 | 335 | 344 | |||||||
| State and local taxes | 260 | 225 | 234 | 485 | 450 | |||||||
| Telecommunications | 50 | 46 | 52 | 96 | 99 | |||||||
| Professional fees | 354 | 416 | 304 | 770 | 794 | |||||||
| Other | 1,094 | 751 | 460 | 1,845 | 1,116 | |||||||
| Total non-interest expense | 12,226 | 11,720 | 10,701 | 23,946 | 21,670 | |||||||
| INCOME BEFORE INCOME TAXES | 1,395 | 1,547 | 1,982 | 2,942 | 3,201 | |||||||
| PROVISION FOR INCOME TAXES | 296 | 322 | 425 | 618 | 678 | |||||||
| NET INCOME | $ | 1,099 | $ | 1,225 | $ | 1,557 | $ | 2,324 | $ | 2,523 | ||
| Earnings per common share: | ||||||||||||
| Basic | $ | 0.05 | $ | 0.06 | $ | 0.07 | $ | 0.11 | $ | 0.12 | ||
| Diluted | $ | 0.05 | $ | 0.06 | $ | 0.07 | $ | 0.11 | $ | 0.12 | ||
| Weighted average number of common shares outstanding: | ||||||||||||
| Basic | 20,948,208 | 20,976,200 | 21,097,580 | 20,962,127 | 21,104,275 | |||||||
| Diluted | 20,948,208 | 20,976,200 | 21,097,580 | 20,962,127 | 21,104,275 | |||||||
| (Dollars in thousands) | At or for the three months ended | At or for the six months ended | |||||||||||||||||
| Sept. 30, 2025 | June 30, 2025 | Sept. 30, 2024 | Sept. 30, 2025 | Sept. 30, 2024 | |||||||||||||||
| AVERAGE BALANCES | |||||||||||||||||||
| Average interest–earning assets | $ | 1,408,602 | $ | 1,424,130 | $ | 1,446,098 | $ | 1,414,451 | $ | 1,441,697 | |||||||||
| Average interest-bearing liabilities | 1,007,901 | 1,021,606 | 1,011,688 | 1,014,716 | 1,005,972 | ||||||||||||||
| Net average earning assets | 400,701 | 402,524 | 434,410 | 399,735 | 435,725 | ||||||||||||||
| Average loans | 1,060,643 | 1,066,712 | 1,048,536 | 1,061,788 | 1,038,213 | ||||||||||||||
| Average deposits | 1,227,577 | 1,195,612 | 1,216,769 | 1,211,682 | 1,214,407 | ||||||||||||||
| Average equity | 163,412 | 161,587 | 158,428 | 162,504 | 156,996 | ||||||||||||||
| Average tangible equity (non-GAAP) | 136,197 | 134,351 | 131,116 | 135,279 | 129,672 | ||||||||||||||
| ASSET QUALITY | Sept. 30, 2025 | June 30, 2025 | Sept. 30, 2024 | ||||||||||||||||
| Non-performing loans | $ | 776 | $ | 143 | $ | 450 | |||||||||||||
| Non-performing loans excluding SBA Government Guarantee (non-GAAP) | 776 | 143 | 149 | ||||||||||||||||
| Non-performing loans to total loans | 0.07 | % | 0.01 | % | 0.04 | % | |||||||||||||
| Non-performing loans to total loans excluding SBA Government Guarantee (non-GAAP) | 0.07 | % | 0.01 | % | 0.01 | % | |||||||||||||
| Real estate/repossessed assets owned | $ | - | $ | - | $ | - | |||||||||||||
| Non-performing assets | $ | 776 | $ | 143 | $ | 450 | |||||||||||||
| Non-performing assets excluding SBA Government Guarantee (non-GAAP) | 776 | 143 | 149 | ||||||||||||||||
| Non-performing assets to total assets | 0.05 | % | 0.01 | % | 0.03 | % | |||||||||||||
| Non-performing assets to total assets excluding SBA Government Guarantee (non-GAAP) | 0.05 | % | 0.01 | % | 0.01 | % | |||||||||||||
| Net loan charge-offs (recoveries) in the quarter | $ | (1 | ) | $ | (52 | ) | $ | (2 | ) | ||||||||||
| Net charge-offs (recoveries) in the quarter/average net loans | 0.00 | % | (0.02 | )% | 0.00 | % | |||||||||||||
| Allowance for credit losses | $ | 15,427 | $ | 15,426 | $ | 15,466 | |||||||||||||
| Average interest-earning assets to average | |||||||||||||||||||
| interest-bearing liabilities | 139.76 | % | 139.40 | % | 142.94 | % | |||||||||||||
| Allowance for credit losses to | |||||||||||||||||||
| non-performing loans | 1988.02 | % | 10787.41 | % | 3436.89 | % | |||||||||||||
| Allowance for credit losses to total loans | 1.44 | % | 1.44 | % | 1.46 | % | |||||||||||||
| Shareholders’ equity to assets | 10.83 | % | 10.68 | % | 10.38 | % | |||||||||||||
| CAPITAL RATIOS | |||||||||||||||||||
| Total capital (to risk weighted assets) | 16.51 | % | 16.56 | % | 16.14 | % | |||||||||||||
| Tier 1 capital (to risk weighted assets) | 15.26 | % | 15.31 | % | 14.88 | % | |||||||||||||
| Common equity tier 1 (to risk weighted assets) | 15.26 | % | 15.31 | % | 14.88 | % | |||||||||||||
| Tier 1 capital (to average tangible assets) | 11.26 | % | 11.16 | % | 10.72 | % | |||||||||||||
| Tangible common equity (to average tangible assets) (non-GAAP) | 9.20 | % | 9.05 | % | 8.78 | % | |||||||||||||
| DEPOSIT MIX | Sept. 30, 2025 | June 30, 2025 | Sept. 30, 2024 | March 31, 2025 | |||||||||||||||
| Interest checking | $ | 286,916 | $ | 277,632 | $ | 267,254 | $ | 285,035 | |||||||||||
| Regular savings | 156,621 | 159,747 | 172,454 | 168,287 | |||||||||||||||
| Money market deposit accounts | 222,402 | 233,553 | 227,505 | 236,044 | |||||||||||||||
| Non-interest checking | 315,973 | 306,768 | 341,116 | 315,503 | |||||||||||||||
| Certificates of deposit | 254,512 | 232,193 | 229,170 | 227,459 | |||||||||||||||
| Total deposits | $ | 1,236,424 | $ | 1,209,893 | $ | 1,237,499 | $ | 1,232,328 | |||||||||||
| COMPOSITION OF COMMERCIAL AND CONSTRUCTION LOANS | |||||||||||||
| Other | Commercial | ||||||||||||
| Commercial | Real Estate | Real Estate | & Construction | ||||||||||
| Business | Mortgage | Construction | Total | ||||||||||
| September 30, 2025 | (Dollars in thousands) | ||||||||||||
| Commercial business | $ | 227,594 | $ | - | $ | - | $ | 227,594 | |||||
| Commercial construction | - | - | 14,134 | 14,134 | |||||||||
| Office buildings | - | 109,339 | - | 109,339 | |||||||||
| Warehouse/industrial | - | 112,417 | - | 112,417 | |||||||||
| Retail/shopping centers/strip malls | - | 87,785 | - | 87,785 | |||||||||
| Assisted living facilities | - | 347 | - | 347 | |||||||||
| Single purpose facilities | - | 293,073 | - | 293,073 | |||||||||
| Land | - | 3,930 | - | 3,930 | |||||||||
| Multi-family | - | 88,991 | - | 88,991 | |||||||||
| One-to-four family construction | - | - | 11,641 | 11,641 | |||||||||
| Total | $ | 227,594 | $ | 695,882 | $ | 25,775 | $ | 949,251 | |||||
| March 31, 2025 | |||||||||||||
| Commercial business | $ | 232,935 | $ | - | $ | - | $ | 232,935 | |||||
| Commercial construction | - | - | 18,368 | 18,368 | |||||||||
| Office buildings | - | 110,949 | - | 110,949 | |||||||||
| Warehouse/industrial | - | 114,926 | - | 114,926 | |||||||||
| Retail/shopping centers/strip malls | - | 88,815 | - | 88,815 | |||||||||
| Assisted living facilities | - | 358 | - | 358 | |||||||||
| Single purpose facilities | - | 277,137 | - | 277,137 | |||||||||
| Land | - | 4,610 | - | 4,610 | |||||||||
| Multi-family | - | 91,451 | - | 91,451 | |||||||||
| One-to-four family construction | - | - | 10,814 | 10,814 | |||||||||
| Total | $ | 232,935 | $ | 688,246 | $ | 29,182 | $ | 950,363 | |||||
| LOAN MIX | Sept. 30, 2025 | June 30, 2025 | Sept. 30, 2024 | March 31, 2025 | |||||||||
| Commercial and construction | (Dollars in thousands) | ||||||||||||
| Commercial business | $ | 227,594 | $ | 231,826 | $ | 236,895 | $ | 232,935 | |||||
| Other real estate mortgage | 695,882 | 693,882 | 659,439 | 688,246 | |||||||||
| Real estate construction | 25,775 | 20,133 | 51,498 | 29,182 | |||||||||
| Total commercial and construction | 949,251 | 945,841 | 947,832 | 950,363 | |||||||||
| Consumer | |||||||||||||
| Real estate one-to-four family | 99,042 | 98,147 | 96,911 | 97,683 | |||||||||
| Other installment | 21,898 | 24,092 | 16,234 | 14,414 | |||||||||
| Total consumer | 120,940 | 122,239 | 113,145 | 112,097 | |||||||||
| Total loans | 1,070,191 | 1,068,080 | 1,060,977 | 1,062,460 | |||||||||
| Less: | |||||||||||||
| Allowance for credit losses | 15,427 | 15,426 | 15,466 | 15,374 | |||||||||
| Loans receivable, net | $ | 1,054,764 | $ | 1,052,654 | $ | 1,045,511 | $ | 1,047,086 | |||||
| DETAIL OF NON-PERFORMING ASSETS | |||||||||||||
| Southwest | |||||||||||||
| Washington | Total | ||||||||||||
| September 30, 2025 | (Dollars in thousands) | ||||||||||||
| Commercial business | $ | 670 | $ | 670 | |||||||||
| Commercial real estate | 77 | 77 | |||||||||||
| Consumer | 29 | 29 | |||||||||||
| Total non-performing assets | $ | 776 | $ | 776 | |||||||||
| At or for the three months ended | At or for the six months ended | |||||||||||||||||||
| SELECTED OPERATING DATA | Sept. 30, 2025 | June 30, 2025 | Sept. 30, 2024 | Sept. 30, 2025 | Sept. 30, 2024 | |||||||||||||||
| Efficiency ratio (4) | 89.76 | % | 88.34 | % | 83.71 | % | 89.06 | % | 86.78 | % | ||||||||||
| Coverage ratio (6) | 80.00 | % | 83.97 | % | 83.56 | % | 81.94 | % | 81.97 | % | ||||||||||
| Return on average assets (1) | 0.29 | % | 0.33 | % | 0.40 | % | 0.31 | % | 0.33 | % | ||||||||||
| Return on average equity (1) | 2.67 | % | 3.04 | % | 3.90 | % | 2.85 | % | 3.21 | % | ||||||||||
| Return on average tangible equity (1) (non-GAAP) | 3.20 | % | 3.66 | % | 4.71 | % | 3.43 | % | 3.88 | % | ||||||||||
| NET INTEREST SPREAD | ||||||||||||||||||||
| Yield on loans | 5.11 | % | 5.02 | % | 4.80 | % | 5.08 | % | 4.75 | % | ||||||||||
| Yield on investment securities | 1.78 | % | 2.09 | % | 2.05 | % | 1.94 | % | 2.08 | % | ||||||||||
| Total yield on interest-earning assets | 4.34 | % | 4.34 | % | 4.11 | % | 4.34 | % | 4.07 | % | ||||||||||
| Cost of interest-bearing deposits | 1.89 | % | 1.72 | % | 1.76 | % | 1.80 | % | 1.69 | % | ||||||||||
| Cost of FHLB advances and other borrowings | 5.28 | % | 5.06 | % | 5.92 | % | 5.15 | % | 5.99 | % | ||||||||||
| Total cost of interest-bearing liabilities | 2.20 | % | 2.17 | % | 2.35 | % | 2.19 | % | 2.30 | % | ||||||||||
| Spread (7) | 2.14 | % | 2.17 | % | 1.76 | % | 2.15 | % | 1.77 | % | ||||||||||
| Net interest margin | 2.76 | % | 2.78 | % | 2.46 | % | 2.77 | % | 2.46 | % | ||||||||||
| PER SHARE DATA | ||||||||||||||||||||
| Basic earnings per share (2) | $ | 0.05 | $ | 0.06 | $ | 0.07 | $ | 0.11 | $ | 0.12 | ||||||||||
| Diluted earnings per share (3) | 0.05 | 0.06 | 0.07 | 0.11 | 0.12 | |||||||||||||||
| Book value per share (5) | 7.81 | 7.72 | 7.62 | 7.81 | 7.62 | |||||||||||||||
| Tangible book value per share (5) (non-GAAP) | 6.51 | 6.43 | 6.33 | 6.51 | 6.33 | |||||||||||||||
| Market price per share: | ||||||||||||||||||||
| High for the period | $ | 5.75 | $ | 6.40 | $ | 4.72 | $ | 6.40 | $ | 4.72 | ||||||||||
| Low for the period | 4.82 | 5.33 | 3.79 | 4.82 | 3.64 | |||||||||||||||
| Close for period end | 5.37 | 5.50 | 4.71 | 5.37 | 4.71 | |||||||||||||||
| Cash dividends declared per share | 0.0200 | 0.0200 | 0.0200 | 0.0400 | 0.0400 | |||||||||||||||
| Average number of shares outstanding: | ||||||||||||||||||||
| Basic (2) | 20,948,208 | 20,976,200 | 21,097,580 | 20,962,127 | 21,104,275 | |||||||||||||||
| Diluted (3) | 20,948,208 | 20,976,200 | 21,097,580 | 20,962,127 | 21,104,275 | |||||||||||||||
(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.
| Contact: | Nicole Sherman |
| David Lam | |
| Riverview Bancorp, Inc. 360-693-6650 |
FAQ
What were Riverview Bancorp (RVSB) Q2 FY2026 earnings per share and net income?
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