Riverview Bancorp Reports Net Income of $1.2 Million in First Fiscal Quarter 2026
Riverview Bancorp (NASDAQ:RVSB) reported net income of $1.2 million, or $0.06 per diluted share, for Q1 fiscal 2026, compared to $966,000 in the year-ago quarter. The company achieved significant milestones including its addition to the Russell 2000® Index.
Key financial metrics include net interest income of $9.8 million, up from $8.8 million year-over-year, and an improved net interest margin of 2.78%. Total loans increased to $1.07 billion, while deposits decreased to $1.21 billion. Asset quality remained strong with non-performing assets at just 0.01% of total assets.
The company maintains strong capital levels with a total risk-based capital ratio of 16.56% and has approximately $449.2 million in available liquidity. A quarterly cash dividend of $0.02 per share was paid on July 22, 2025.
Riverview Bancorp (NASDAQ:RVSB) ha registrato un utile netto di 1,2 milioni di dollari, pari a 0,06 dollari per azione diluita, nel primo trimestre dell'anno fiscale 2026, rispetto a 966.000 dollari nello stesso periodo dell'anno precedente. L'azienda ha raggiunto traguardi importanti, tra cui l'inserimento nel Russell 2000® Index.
I principali indicatori finanziari includono un reddito da interessi netto di 9,8 milioni di dollari, in aumento rispetto agli 8,8 milioni dell'anno precedente, e un miglioramento del margine di interesse netto al 2,78%. I prestiti totali sono saliti a 1,07 miliardi di dollari, mentre i depositi sono diminuiti a 1,21 miliardi. La qualità degli attivi è rimasta solida con attività non performanti pari a solo il 0,01% del totale degli attivi.
L'azienda mantiene livelli di capitale robusti con un rapporto totale di capitale basato sul rischio del 16,56% e dispone di circa 449,2 milioni di dollari di liquidità disponibile. Il 22 luglio 2025 è stato distribuito un dividendo trimestrale in contanti di 0,02 dollari per azione.
Riverview Bancorp (NASDAQ:RVSB) reportó un ingreso neto de 1.2 millones de dólares, o 0.06 dólares por acción diluida, en el primer trimestre fiscal de 2026, en comparación con 966,000 dólares en el mismo trimestre del año anterior. La compañía alcanzó hitos importantes, incluyendo su inclusión en el Russell 2000® Index.
Las métricas financieras clave incluyen un ingreso neto por intereses de 9.8 millones de dólares, un aumento respecto a los 8.8 millones del año anterior, y un margen neto de interés mejorado del 2.78%. Los préstamos totales aumentaron a 1.07 mil millones de dólares, mientras que los depósitos disminuyeron a 1.21 mil millones. La calidad de los activos se mantuvo sólida con activos no productivos en solo el 0.01% del total de activos.
La compañía mantiene niveles sólidos de capital con una relación total de capital basado en riesgo del 16.56% y cuenta con aproximadamente 449.2 millones de dólares en liquidez disponible. Se pagó un dividendo trimestral en efectivo de 0.02 dólares por acción el 22 de julio de 2025.
Riverview Bancorp (NASDAQ:RVSB)는 2026 회계연도 1분기에 120만 달러의 순이익을 기록했으며, 희석 주당순이익은 0.06달러로 전년 동기 96만 6천 달러에 비해 증가했습니다. 회사는 Russell 2000® 지수 편입 등 중요한 성과를 달성했습니다.
주요 재무 지표로는 순이자수익 980만 달러로 전년 대비 880만 달러에서 증가했으며, 순이자마진도 2.78%로 개선되었습니다. 총 대출금은 10억 7천만 달러로 증가했으나, 예금은 12억 1천만 달러로 감소했습니다. 자산 건전성은 총 자산의 단 0.01%에 불과한 부실 자산 비율로 견고하게 유지되었습니다.
회사는 16.56%의 총 위험기준 자본비율을 유지하며 약 4억 4,920만 달러의 가용 유동성을 보유하고 있습니다. 2025년 7월 22일에 주당 0.02달러의 분기 현금 배당금이 지급되었습니다.
Riverview Bancorp (NASDAQ:RVSB) a annoncé un bénéfice net de 1,2 million de dollars, soit 0,06 dollar par action diluée, pour le premier trimestre de l'exercice 2026, contre 966 000 dollars au même trimestre de l'année précédente. La société a franchi des étapes importantes, notamment son inclusion dans le Russell 2000® Index.
Les principaux indicateurs financiers comprennent un revenu net d'intérêts de 9,8 millions de dollars, en hausse par rapport à 8,8 millions l'année précédente, et une marge nette d'intérêt améliorée de 2,78%. Le total des prêts a augmenté pour atteindre 1,07 milliard de dollars, tandis que les dépôts ont diminué à 1,21 milliard. La qualité des actifs est restée solide avec des actifs non performants représentant seulement 0,01% du total des actifs.
La société maintient des niveaux de capital solides avec un ratio total de fonds propres pondéré en fonction des risques de 16,56% et dispose d'environ 449,2 millions de dollars de liquidités disponibles. Un dividende trimestriel en espèces de 0,02 dollar par action a été versé le 22 juillet 2025.
Riverview Bancorp (NASDAQ:RVSB) meldete für das erste Quartal des Geschäftsjahres 2026 einen Nettogewinn von 1,2 Millionen US-Dollar, bzw. 0,06 US-Dollar je verwässerter Aktie, im Vergleich zu 966.000 US-Dollar im Vorjahresquartal. Das Unternehmen erreichte wichtige Meilensteine, darunter die Aufnahme in den Russell 2000® Index.
Zu den wichtigsten Finanzkennzahlen gehören ein Nettozinsertrag von 9,8 Millionen US-Dollar, ein Anstieg gegenüber 8,8 Millionen US-Dollar im Vorjahreszeitraum, sowie eine verbesserte Nettozinsmarge von 2,78%. Die Gesamtkredite stiegen auf 1,07 Milliarden US-Dollar, während die Einlagen auf 1,21 Milliarden US-Dollar sanken. Die Vermögensqualität blieb mit notleidenden Vermögenswerten von nur 0,01% der Gesamtvermögenswerte stark.
Das Unternehmen hält solide Kapitalquoten mit einer Gesamtrisiko-Kapitalquote von 16,56% und verfügt über etwa 449,2 Millionen US-Dollar verfügbare Liquidität. Am 22. Juli 2025 wurde eine vierteljährliche Bardividende von 0,02 US-Dollar je Aktie ausgeschüttet.
- Net income increased to $1.2 million from $966,000 year-over-year
- Net interest margin improved to 2.78%, up 31 basis points year-over-year
- Loan pipeline strengthened to $72.0 million from $32.3 million year-over-year
- Addition to Russell 2000® Index enhancing institutional visibility
- Strong asset quality with NPAs at only 0.01% of total assets
- Robust liquidity position with $449.2 million available
- Deposits decreased $22.4 million during the quarter to $1.21 billion
- Non-interest expense increased to $11.7 million from $11.0 million year-over-year
- High efficiency ratio of 88.3% indicating elevated operating costs
- Classified assets increased significantly to $10.8 million from $2.9 million in previous quarter
- FHLB advances increased $26.1 million during the quarter due to deposit decrease
Insights
Riverview showed modest earnings growth with improved margins, though efficiency remains challenging amid strategic investments in growth initiatives.
Riverview Bancorp reported
The most encouraging aspect was the net interest margin (NIM) expansion to
Loan growth was modest at
Credit quality remains exceptionally strong with non-performing assets at just
The efficiency ratio remains problematic at
The inclusion in the Russell 2000® Index represents a validation of the bank's progress and could improve institutional visibility. Additionally, tangible book value increased to
Riverview maintains strong capital and liquidity positions, with a total risk-based capital ratio of
FISCAL Q1 2026 HIGHLIGHTS
| Net Income | Diluted Earnings per Common Share | Tangible Book Value per Share | NPAs to Total Assets |
Fiscal 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., July 29, 2025 (GLOBE NEWSWIRE) -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported earnings of
“Riverview’s inclusion in the Russell 2000® Index marks a significant achievement and underscores the meaningful progress we’ve made in strengthening our franchise and delivering long-term value to shareholders. This progress is also reflected in our financial results for the first fiscal quarter highlighted by net interest margin expansion driven by higher loan yields,” stated Nicole Sherman, President and Chief Executive Officer. “We remain focused on enhancing Riverview’s operational performance while continuing to be the financial partner of choice for our clients across Southwest Washington and Northwest Oregon—communities we’ve proudly served for more than a century. Our loan pipeline remains strong, and we anticipate continued loan demand in the growing markets that we serve. We continue to enhance our commercial and business banking teams which has also led to our increased loan pipeline.”
“During the first quarter we began implementation of our three-year strategic plan, which focuses on delivering sustainable growth, expanding our digital capabilities, and harnessing data to drive strategic business decisions,” Sherman continued. “A key priority throughout has been fostering a culture where employees, clients, and communities are genuinely valued. Looking ahead, we continue pursuing growth opportunities across our commercial & industrial, business banking, and treasury management platforms. While we make targeted investments in both talent and technology to support our initiatives, we remain focused on improving operating efficiency as well.”
On June 30, 2025, the Company was added to the Russell 3000 Index® and Russell 2000® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes. “We believe this recognition enhances our visibility within the institutional investment community and emphasizes our commitment to be the preferred place to bank and work in the communities we serve,” concluded Sherman.
Income Statement Review
Riverview’s net interest income increased to
Riverview’s NIM was
Investment securities decreased
Riverview’s yield on loans was
Non-interest income was
“We are proud of the operating contributions Riverview Trust Company contributes to the Company,” said Lam. Asset management fees were
Non-interest expense was
Riverview’s effective tax rate for the first fiscal quarter of 2026 was
Balance Sheet Review
Total loans increased
Undisbursed construction loans totaled
The office building loan portfolio totaled
Total deposits decreased
FHLB advances increased
Shareholders’ equity increased to
Credit Quality
“Asset quality remains a priority during uncertain economic conditions, and we continue to closely monitor our portfolio mix, loan growth, and local and national conditions to maintain an appropriate allowance,” said Robert Benke, EVP and Chief Credit Officer. 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 September 25, 2024, the Company’s Board of Directors adopted a stock repurchase program. Under this repurchase program, the Company may repurchase up to
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) | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| Shareholders' equity (GAAP) | $ | 162,001 | $ | 160,014 | $ | 155,908 | |||||
| Exclude: Goodwill | (27,076 | ) | (27,076 | ) | (27,076 | ) | |||||
| Exclude: Core deposit intangible, net | (147 | ) | (171 | ) | (246 | ) | |||||
| Tangible shareholders' equity (non-GAAP) | $ | 134,778 | $ | 132,767 | $ | 128,586 | |||||
| Total assets (GAAP) | $ | 1,516,643 | $ | 1,513,323 | $ | 1,538,260 | |||||
| Exclude: Goodwill | (27,076 | ) | (27,076 | ) | (27,076 | ) | |||||
| Exclude: Core deposit intangible, net | (147 | ) | (171 | ) | (246 | ) | |||||
| Tangible assets (non-GAAP) | $ | 1,489,420 | $ | 1,486,076 | $ | 1,510,938 | |||||
| Shareholders' equity to total assets (GAAP) | 10.68 | % | 10.57 | % | 10.14 | % | |||||
| Tangible common equity to tangible assets (non-GAAP) | 9.05 | % | 8.93 | % | 8.51 | % | |||||
| Shares outstanding | 20,976,200 | 20,976,200 | 21,111,043 | ||||||||
| Book value per share (GAAP) | $ | 7.72 | $ | 7.63 | $ | 7.39 | |||||
| Tangible book value per share (non-GAAP) | $ | 6.43 | $ | 6.33 | $ | 6.09 | |||||
| Pre-tax, pre-provision income | |||||||||||
| Three Months Ended | |||||||||||
| (Dollars in thousands) | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| Net income (loss) (GAAP) | $ | 1,225 | $ | 1,148 | $ | 966 | |||||
| Include: Provision (credit) for income taxes | 322 | 314 | 253 | ||||||||
| Include: Provision for credit losses | - | - | - | ||||||||
| Pre-tax, pre-provision income (loss) (non-GAAP) | $ | 1,547 | $ | 1,462 | $ | 1,219 | |||||
| Allowance for credit losses reconciliation, excluding Government Guaranteed loans | |||||||||||
| (Dollars in thousands) | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| Allowance for credit losses | $ | 15,426 | $ | 15,374 | $ | 15,364 | |||||
| Loans receivable (GAAP) | $ | 1,068,080 | $ | 1,062,460 | $ | 1,045,065 | |||||
| Exclude: Government Guaranteed loans | (46,965 | ) | (47,373 | ) | (50,438 | ) | |||||
| Loans receivable excluding Government Guaranteed loans (non-GAAP) | $ | 1,021,115 | $ | 1,015,087 | $ | 994,627 | |||||
| Allowance for credit losses to loans receivable (GAAP) | 1.44 | % | 1.45 | % | 1.47 | % | |||||
| Allowance for credit losses to loans receivable excluding Government Guaranteed loans (non-GAAP) | 1.51 | % | 1.51 | % | 1.54 | % | |||||
| Non-performing loans reconciliation, excluding Government Guaranteed Loans | |||||||||||
| Three Months Ended | |||||||||||
| (Dollars in thousands) | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| Non-performing loans (GAAP) | $ | 143 | $ | 155 | $ | 461 | |||||
| Less: Non-performing Government Guaranteed loans | - | - | (301 | ) | |||||||
| Adjusted non-performing loans excluding Government Guaranteed loans (non-GAAP) | $ | 143 | $ | 155 | $ | 160 | |||||
| Non-performing loans to total loans (GAAP) | 0.01 | % | 0.01 | % | 0.04 | % | |||||
| Non-performing loans, excluding Government Guaranteed loans to total loans (non-GAAP) | 0.01 | % | 0.01 | % | 0.02 | % | |||||
| Non-performing loans to total assets (GAAP) | 0.01 | % | 0.01 | % | 0.03 | % | |||||
| Non-performing loans, excluding Government Guaranteed loans to total assets (non-GAAP) | 0.01 | % | 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) | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| ASSETS | |||||||||||
| Cash and cash equivalents (including interest-earning accounts of | $ | 34,172 | $ | 29,414 | $ | 27,804 | |||||
| Investment securities: | |||||||||||
| Available for sale, at estimated fair value | 118,777 | 119,436 | 137,371 | ||||||||
| Held to maturity, at amortized cost | 197,478 | 203,079 | 225,817 | ||||||||
| Loans receivable (net of allowance for credit losses of | 1,052,654 | 1,047,086 | 1,029,701 | ||||||||
| Prepaid expenses and other assets | 12,455 | 12,523 | 14,170 | ||||||||
| Accrued interest receivable | 4,493 | 4,525 | 4,798 | ||||||||
| Federal Home Loan Bank ("FHLB") stock, at cost | 5,516 | 4,342 | 6,061 | ||||||||
| Premises and equipment, net | 21,867 | 22,304 | 21,290 | ||||||||
| Financing lease right-of-use asset | 1,106 | 1,125 | 1,182 | ||||||||
| Deferred income taxes, net | 8,286 | 8,625 | 9,857 | ||||||||
| Goodwill | 27,076 | 27,076 | 27,076 | ||||||||
| Core deposit intangible ("CDI"), net | 147 | 171 | 246 | ||||||||
| Bank owned life insurance ("BOLI") | 32,616 | 33,617 | 32,887 | ||||||||
| TOTAL ASSETS | $ | 1,516,643 | $ | 1,513,323 | $ | 1,538,260 | |||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||
| LIABILITIES: | |||||||||||
| Deposits | $ | 1,209,893 | $ | 1,232,328 | $ | 1,219,679 | |||||
| Accrued expenses and other liabilities | 12,498 | 14,777 | 19,441 | ||||||||
| Advance payments by borrowers for taxes and insurance | 558 | 614 | 551 | ||||||||
| FHLB advances | 102,500 | 76,400 | 113,504 | ||||||||
| Junior subordinated debentures | 27,113 | 27,091 | 27,026 | ||||||||
| Finance lease liability | 2,080 | 2,099 | 2,151 | ||||||||
| Total liabilities | 1,354,642 | 1,353,309 | 1,382,352 | ||||||||
| 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, 2025 – 20,976,200 issued and outstanding; | |||||||||||
| March 31, 2025 – 20,976,200 issued and outstanding; | 208 | 208 | 211 | ||||||||
| June 30, 2024 – 21,111,043 issued and outstanding; | |||||||||||
| Additional paid-in capital | 53,501 | 53,392 | 55,031 | ||||||||
| Retained earnings | 120,522 | 119,717 | 117,043 | ||||||||
| Accumulated other comprehensive loss | (12,230 | ) | (13,303 | ) | (16,377 | ) | |||||
| Total shareholders’ equity | 162,001 | 160,014 | 155,908 | ||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 1,516,643 | $ | 1,513,323 | $ | 1,538,260 | |||||
| RIVERVIEW BANCORP, INC. AND SUBSIDIARY | |||||||||||
| Consolidated Statements of Income | |||||||||||
| Three Months Ended | |||||||||||
| (In thousands, except share and per share data) (Unaudited) | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| INTEREST INCOME: | |||||||||||
| Interest and fees on loans receivable | $ | 13,352 | $ | 12,685 | $ | 12,052 | |||||
| Interest on investment securities - taxable | 1,667 | 1,484 | 1,972 | ||||||||
| Interest on investment securities - nontaxable | 65 | 64 | 65 | ||||||||
| Other interest and dividends | 291 | 261 | 310 | ||||||||
| Total interest and dividend income | 15,375 | 14,494 | 14,399 | ||||||||
| INTEREST EXPENSE: | |||||||||||
| Interest on deposits | 3,774 | 3,910 | 3,447 | ||||||||
| Interest on borrowings | 1,760 | 1,391 | 2,131 | ||||||||
| Total interest expense | 5,534 | 5,301 | 5,578 | ||||||||
| Net interest income | 9,841 | 9,193 | 8,821 | ||||||||
| Provision for credit losses | - | - | - | ||||||||
| Net interest income after provision for credit losses | 9,841 | 9,193 | 8,821 | ||||||||
| NON-INTEREST INCOME: | |||||||||||
| Fees and service charges | 1,572 | 1,446 | 1,540 | ||||||||
| Asset management fees | 1,552 | 1,472 | 1,558 | ||||||||
| Income from BOLI | 222 | 226 | 211 | ||||||||
| BOLI death benefit in excess of cash surrender value | - | 261 | - | ||||||||
| Other, net | 80 | 302 | 58 | ||||||||
| Total non-interest income, net | 3,426 | 3,707 | 3,367 | ||||||||
| NON-INTEREST EXPENSE: | |||||||||||
| Salaries and employee benefits | 7,247 | 6,763 | 6,388 | ||||||||
| Occupancy and depreciation | 1,868 | 1,873 | 1,895 | ||||||||
| Data processing | 742 | 746 | 764 | ||||||||
| Amortization of CDI | 24 | 25 | 25 | ||||||||
| Advertising and marketing | 237 | 284 | 310 | ||||||||
| FDIC insurance premium | 164 | 170 | 178 | ||||||||
| State and local taxes | 225 | 265 | 216 | ||||||||
| Telecommunications | 46 | 62 | 47 | ||||||||
| Professional fees | 416 | 577 | 490 | ||||||||
| Other | 751 | 673 | 656 | ||||||||
| Total non-interest expense | 11,720 | 11,438 | 10,969 | ||||||||
| INCOME BEFORE INCOME TAXES | 1,547 | 1,462 | 1,219 | ||||||||
| PROVISION FOR INCOME TAXES | 322 | 314 | 253 | ||||||||
| NET INCOME | $ | 1,225 | $ | 1,148 | $ | 966 | |||||
| Earnings per common share: | |||||||||||
| Basic | $ | 0.06 | $ | 0.05 | $ | 0.05 | |||||
| Diluted | $ | 0.06 | $ | 0.05 | $ | 0.05 | |||||
| Weighted average number of common shares outstanding: | |||||||||||
| Basic | 20,976,200 | 21,007,294 | 21,111,043 | ||||||||
| Diluted | 20,976,200 | 21,007,294 | 21,111,043 | ||||||||
| (Dollars in thousands) | At or for the three months ended | ||||||||||
| June 30, 2025 | March 31, 2025 | June 30, 2024 | |||||||||
| AVERAGE BALANCES | |||||||||||
| Average interest–earning assets | $ | 1,424,130 | $ | 1,412,406 | $ | 1,437,245 | |||||
| Average interest-bearing liabilities | 1,021,606 | 1,011,116 | 1,000,190 | ||||||||
| Net average earning assets | 402,524 | 401,290 | 437,055 | ||||||||
| Average loans | 1,066,712 | 1,047,718 | 1,027,777 | ||||||||
| Average deposits | 1,195,612 | 1,219,130 | 1,212,018 | ||||||||
| Average equity | 161,587 | 159,766 | 155,548 | ||||||||
| Average tangible equity (non-GAAP) | 134,351 | 132,506 | 128,212 | ||||||||
| ASSET QUALITY | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| Non-performing loans | $ | 143 | $ | 155 | $ | 461 | |||||
| Non-performing loans excluding SBA Government Guarantee (non-GAAP) | $ | 143 | $ | 155 | $ | 160 | |||||
| Non-performing loans to total loans | 0.01 | % | 0.01 | % | 0.04 | % | |||||
| Non-performing loans to total loans excluding SBA Government Guarantee (non-GAAP) | 0.01 | % | 0.01 | % | 0.02 | % | |||||
| Real estate/repossessed assets owned | $ | - | $ | - | $ | - | |||||
| Non-performing assets | $ | 143 | $ | 155 | $ | 461 | |||||
| Non-performing assets excluding SBA Government Guarantee (non-GAAP) | $ | 143 | $ | 155 | $ | 160 | |||||
| Non-performing assets to total assets | 0.01 | % | 0.01 | % | 0.03 | % | |||||
| Non-performing assets to total assets excluding SBA Government Guarantee (non-GAAP) | 0.01 | % | 0.01 | % | 0.01 | % | |||||
| Net loan charge-offs (recoveries) in the quarter | $ | (52 | ) | $ | (22 | ) | $ | - | |||
| Net charge-offs (recoveries) in the quarter/average net loans | (0.02 | )% | (0.01 | )% | 0.00 | % | |||||
| Allowance for credit losses | $ | 15,426 | $ | 15,374 | $ | 15,364 | |||||
| Average interest-earning assets to average interest-bearing liabilities | 139.40 | % | 139.69 | % | 143.70 | % | |||||
| Allowance for credit losses to non-performing loans | 10787.41 | % | 9918.71 | % | 3332.75 | % | |||||
| Allowance for credit losses to total loans | 1.44 | % | 1.45 | % | 1.47 | % | |||||
| Shareholders’ equity to assets | 10.68 | % | 10.57 | % | 10.14 | % | |||||
| CAPITAL RATIOS | |||||||||||
| Total capital (to risk weighted assets) | 16.56 | % | 16.48 | % | 16.18 | % | |||||
| Tier 1 capital (to risk weighted assets) | 15.31 | % | 15.23 | % | 14.93 | % | |||||
| Common equity tier 1 (to risk weighted assets) | 15.31 | % | 15.23 | % | 14.93 | % | |||||
| Tier 1 capital (to average tangible assets) | 11.16 | % | 11.10 | % | 10.67 | % | |||||
| Tangible common equity (to average tangible assets) (non-GAAP) | 9.05 | % | 8.93 | % | 8.51 | % | |||||
| DEPOSIT MIX | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| Interest checking | $ | 277,632 | $ | 285,035 | $ | 281,477 | |||||
| Regular savings | 159,747 | 168,287 | 179,634 | ||||||||
| Money market deposit accounts | 233,553 | 236,044 | 214,874 | ||||||||
| Non-interest checking | 306,768 | 315,503 | 339,271 | ||||||||
| Certificates of deposit | 232,193 | 227,459 | 204,423 | ||||||||
| Total deposits | $ | 1,209,893 | $ | 1,232,328 | $ | 1,219,679 | |||||
| COMPOSITION OF COMMERCIAL AND CONSTRUCTION LOANS | |||||||||||||||
| Other | Commercial | ||||||||||||||
| Commercial | Real Estate | Real Estate | & Construction | ||||||||||||
| Business | Mortgage | Construction | Total | ||||||||||||
| June 30, 2025 | (Dollars in thousands) | ||||||||||||||
| Commercial business | $ | 231,826 | $ | - | $ | - | $ | 231,826 | |||||||
| Commercial construction | - | - | 9,994 | 9,994 | |||||||||||
| Office buildings | - | 108,610 | - | 108,610 | |||||||||||
| Warehouse/industrial | - | 113,361 | - | 113,361 | |||||||||||
| Retail/shopping centers/strip malls | - | 87,742 | - | 87,742 | |||||||||||
| Assisted living facilities | - | 353 | - | 353 | |||||||||||
| Single purpose facilities | - | 289,551 | - | 289,551 | |||||||||||
| Land | - | 3,659 | - | 3,659 | |||||||||||
| Multi-family | - | 90,606 | - | 90,606 | |||||||||||
| One-to-four family construction | - | - | 10,139 | 10,139 | |||||||||||
| Total | $ | 231,826 | $ | 693,882 | $ | 20,133 | $ | 945,841 | |||||||
| 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 | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||||||
| Commercial and construction | (Dollars in thousands) | ||||||||||||||
| Commercial business | $ | 231,826 | $ | 232,935 | $ | 238,493 | |||||||||
| Other real estate mortgage | 693,882 | 688,246 | 663,715 | ||||||||||||
| Real estate construction | 20,133 | 29,182 | 39,958 | ||||||||||||
| Total commercial and construction | 945,841 | 950,363 | 942,166 | ||||||||||||
| Consumer | |||||||||||||||
| Real estate one-to-four family | 98,147 | 97,683 | 96,083 | ||||||||||||
| Other installment | 24,092 | 14,414 | 6,816 | ||||||||||||
| Total consumer | 122,239 | 112,097 | 102,899 | ||||||||||||
| Total loans | 1,068,080 | 1,062,460 | 1,045,065 | ||||||||||||
| Less: | |||||||||||||||
| Allowance for credit losses | 15,426 | 15,374 | 15,364 | ||||||||||||
| Loans receivable, net | $ | 1,052,654 | $ | 1,047,086 | $ | 1,029,701 | |||||||||
| DETAIL OF NON-PERFORMING ASSETS | |||||||||||||||
| Southwest | |||||||||||||||
| Washington | Total | ||||||||||||||
| June 30, 2025 | (Dollars in thousands) | ||||||||||||||
| Commercial business | $ | 32 | $ | 32 | |||||||||||
| Commercial real estate | 82 | 82 | |||||||||||||
| Consumer | 29 | 29 | |||||||||||||
| Total non-performing assets | $ | 143 | $ | 143 | |||||||||||
| At or for the three months ended | |||||||||||
| SELECTED OPERATING DATA | June 30, 2025 | March 31, 2025 | June 30, 2024 | ||||||||
| Efficiency ratio (4) | 88.34 | % | 88.67 | % | 90.00 | % | |||||
| Coverage ratio (6) | 83.97 | % | 80.37 | % | 80.42 | % | |||||
| Return on average assets (1) | 0.33 | % | 0.31 | % | 0.25 | % | |||||
| Return on average equity (1) | 3.04 | % | 2.91 | % | 2.49 | % | |||||
| Return on average tangible equity (1) (non-GAAP) | 3.66 | % | 3.51 | % | 3.02 | % | |||||
| NET INTEREST SPREAD | |||||||||||
| Yield on loans | 5.02 | % | 4.91 | % | 4.70 | % | |||||
| Yield on investment securities | 2.09 | % | 1.84 | % | 2.11 | % | |||||
| Total yield on interest-earning assets | 4.34 | % | 4.17 | % | 4.02 | % | |||||
| Cost of interest-bearing deposits | 1.72 | % | 1.76 | % | 1.61 | % | |||||
| Cost of FHLB advances and other borrowings | 5.06 | % | 5.21 | % | 6.07 | % | |||||
| Total cost of interest-bearing liabilities | 2.17 | % | 2.13 | % | 2.24 | % | |||||
| Spread (7) | 2.17 | % | 2.04 | % | 1.78 | % | |||||
| Net interest margin | 2.78 | % | 2.65 | % | 2.47 | % | |||||
| PER SHARE DATA | |||||||||||
| Basic earnings (loss) per share (2) | $ | 0.06 | $ | 0.05 | $ | 0.05 | |||||
| Diluted earnings (loss) per share (3) | 0.06 | 0.05 | 0.05 | ||||||||
| Book value per share (5) | 7.72 | 7.63 | 7.39 | ||||||||
| Tangible book value per share (5) (non-GAAP) | 6.43 | 6.33 | 6.09 | ||||||||
| Market price per share: | |||||||||||
| High for the period | $ | 6.40 | $ | 5.75 | $ | 4.69 | |||||
| Low for the period | 5.33 | 5.08 | 3.64 | ||||||||
| Close for period end | 5.50 | 5.65 | 3.99 | ||||||||
| Cash dividends declared per share | 0.0200 | 0.0200 | 0.0200 | ||||||||
| Average number of shares outstanding: | |||||||||||
| Basic (2) | 20,976,200 | 21,007,294 | 21,111,043 | ||||||||
| Diluted (3) | 20,976,200 | 21,007,294 | 21,111,043 | ||||||||
| (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 was Riverview Bancorp's (RVSB) earnings per share in Q1 2026?
How much did RVSB's net interest margin improve in Q1 2026?
What is Riverview's (RVSB) current loan portfolio size and quality?
How much dividend did RVSB pay in July 2025?
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How has Riverview's deposit base changed in Q1 2026?
