Riverview Bancorp Reports Net Income of $1.7 Million in First Quarter 2027
Rhea-AI Summary
Riverview Bancorp (Nasdaq: RVSB) reported fiscal Q1 2027 net income of $1.7 million, or $0.08 per diluted share, for the quarter ended June 30, 2026, versus a net loss of $8.0 million in the prior quarter and net income of $1.2 million a year earlier.
Net interest income rose to $11.4 million with a net interest margin of 3.34%, up from 2.78% in fiscal Q1 2026, supported by higher loan yields and the March 2026 balance sheet optimization. Non-interest income was $3.6 million, while non-interest expense increased to $12.9 million.
Total loans were steady at $1.08 billion, deposits grew to $1.26 billion, and FHLB advances fell to $16.1 million. Credit metrics weakened, with non-performing loans rising to $8.7 million (0.80% of loans) and classified assets to $29.9 million. Tangible book value per share (non-GAAP) was $5.86; a quarterly dividend of $0.02 per share was paid.
Positive
- Net income $1.7M vs. $8.0M loss prior quarter
- Net interest margin 3.34%, up from 2.78% in fiscal Q1 2026
- Net interest income $11.4M, up from $9.8M a year earlier
- Non-interest income $3.6M vs. ($8.0M) prior quarter
- Total deposits $1.26B, up $51.7M year over year
- FHLB advances $16.1M, down $86.4M from a year earlier
Negative
- Non-interest expense $12.9M, up from $11.7M a year earlier
- Non-performing loans $8.7M vs. $143K a year earlier
- Classified assets $29.9M vs. $10.8M a year earlier
- Deposit costs 1.40%, up from 1.27% a year earlier
- Shareholders’ equity $145.3M, down from $162.0M a year earlier
News Explained
By June 30, Riverview had completed $2.4 million of a $4.0 million repurchase authorization, leaving $1.6 million unused.
Riverview Bancorp’s board-authorized common-share repurchase program was partly executed by
The disclosed
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 28 | Fiscal Q4 earnings | Negative | -2.7% | Reported quarterly and annual losses after strategic securities portfolio optimization |
| Jan 27 | Fiscal Q3 earnings | Positive | +1.8% | Reported net income, higher margin, loan growth, and improved quarterly operating metrics |
| Jul 29 | Fiscal Q1 earnings | Positive | -3.9% | Reported higher net income, margin expansion, loan growth, and strong capital levels |
| Apr 29 | Fiscal Q4 earnings | Positive | +0.0% | Reported quarterly and annual profitability, margin expansion, loan growth, and strong asset quality |
| Jan 30 | Fiscal Q3 earnings | Positive | -0.2% | Reported stable profitability, margin expansion, no credit-loss provision, and capital strength |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings events averaged a -1.01% reaction, with two aligned reactions and three divergences across the five selected events.
Key Terms
net interest margin financial
non-performing assets financial
held-to-maturity financial
available-for-sale financial
loan-to-value ratio financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
FISCAL Q1 2027 HIGHLIGHTS
Net Income | Diluted Earnings per Common Share | Tangible Book Value per Share (non-GAAP) | NPAs to Total Assets |
Fiscal First 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 28, 2026 (GLOBE NEWSWIRE) -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported net income of
“Riverview’s first fiscal quarter of 2027 reflects the meaningful progress we are making through the disciplined delivery of our strategic plan,” stated Nicole Sherman, President and Chief Executive Officer. “During the quarter, the Company generated its highest net income in the past 11 quarters, supported by our strategic balance sheet optimization, prudent growth, thoughtful investment in technology and talent, and strong risk oversight. This performance is a direct result of the experience, commitment, and focus of our teams across the Company, who deliver high-value solutions to our clients and build relationships grounded in trust, responsiveness, and local expertise. As a community bank, we know our clients value the difference that comes from banking local—local decision-making, personal service, and a partner who understands their business, their goals, and the communities we serve. We remain energized by the opportunities ahead and confident that our combination of disciplined financial management, strategic performance, experienced relationship banking, and deeply rooted community commitment positions Riverview to create sustainable value for our employees, clients, communities, and shareholders.”
Franchise Footprint
Riverview is the only bank headquartered in Vancouver, Washington, giving it a distinctive position in one of the Pacific Northwest’s most dynamic markets. Vancouver and Clark County have become growth centers supported by continued population gains, strong household formation, and major investments in downtown and waterfront redevelopment. Projects such as the Columbia River waterfront, Terminal 1, Waterfront Gateway, and broader downtown revitalization are strengthening Vancouver’s appeal as a place to live, work, visit, and build businesses. The local economy is broad and resilient, with strength across health care and social assistance, construction, manufacturing, logistics, professional services, and technology-related industries, anchored by major employers and regional assets such as PeaceHealth, HP, the Port of Vancouver, WaferTech/TSMC, and Sharp. These fundamentals create meaningful opportunities for Riverview to deepen community lending relationships, support small and mid-sized business growth, and continue building local deposits in its home market. Northwest Oregon remains an important complementary market, extending Riverview’s reach into a well-established economic corridor supported by technology, advanced manufacturing, apparel, outdoor products, and consumer goods companies such as Intel, Nike, and Columbia Sportswear. Oregon’s higher-income communities, strong housing values, transportation access, and innovation-oriented business base provide a stable platform for continued relationship growth. Together, Vancouver’s home-market momentum and Oregon’s established economic depth give Riverview a balanced and compelling foundation for growth across Southwest Washington and Northwest Oregon.
Income Statement Review
Riverview’s net interest income increased to
Riverview’s net interest margin (“NIM”) was
Investment securities increased
Riverview’s yield on loans was
Deposit costs increased slightly to
Non-interest income was
Asset management fees remained constant at
Non-interest expense increased to
Balance Sheet Review
Total loans remained steady at
Undisbursed construction loans totaled
Looking ahead, loan repricing and maturities for fiscal year 2027 total
The office building loan portfolio totaled
Total deposits increased
FHLB advances remained unchanged at
Shareholders’ equity was
Credit Quality
“Preserving the strength and quality of our loan portfolio continues to be a priority, especially given the ongoing uncertainty around interest rates,” said Robert Benke, EVP and Chief Credit Officer. “We experienced an increase in nonperforming loans during the quarter, driven by a commercial real estate loan in which we are actively monitoring to resolve. Overall credit quality metrics remain sound, and our relationship managers’ deep client relationships continue to give us early risk visibility to respond quickly to our clients’ needs.”
Non-performing loans 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 January 28, 2026, the Company’s Board of Directors adopted a stock repurchase program. Under this repurchase program, the Company may repurchase up to
Riverview is taking a strategic approach to the use of excess capital in the reinvestment of the proceeds from the investment securities sale. Riverview expects to continue to reinvest the proceeds through a combination of loan originations, purchases of higher-yielding bonds, repayment of Federal Home Loan Bank borrowings, or cash reserve. Deploying these funds into higher-yielding earning assets or paying down borrowings will inherently increase the net interest income of the Bank on a go-forward basis. Given Riverview’s strong capital levels, no additional capital was needed to support the balance sheet optimization.
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, 2026 | March 31, 2026 | June 30, 2025 | |||||||||
| Shareholders' equity (GAAP) | $ | 145,255 | $ | 145,636 | $ | 162,001 | ||||||
| Exclude: Goodwill | (27,076 | ) | (27,076 | ) | (27,076 | ) | ||||||
| Exclude: Core deposit intangible, net | (55 | ) | (77 | ) | (147 | ) | ||||||
| Tangible shareholders' equity (non-GAAP) | $ | 118,124 | $ | 118,483 | $ | 134,778 | ||||||
| Total assets (GAAP) | $ | 1,470,945 | $ | 1,463,809 | $ | 1,516,643 | ||||||
| Exclude: Goodwill | (27,076 | ) | (27,076 | ) | (27,076 | ) | ||||||
| Exclude: Core deposit intangible, net | (55 | ) | (77 | ) | (147 | ) | ||||||
| Tangible assets (non-GAAP) | $ | 1,443,814 | $ | 1,436,656 | $ | 1,489,420 | ||||||
| Shareholders' equity to total assets (GAAP) | 9.87 | % | 9.95 | % | 10.68 | % | ||||||
| Tangible common equity to tangible assets (non-GAAP) | 8.18 | % | 8.25 | % | 9.05 | % | ||||||
| Shares outstanding | 20,160,613 | 20,564,719 | 20,976,200 | |||||||||
| Book value per share (GAAP) | 7.20 | 7.08 | 7.72 | |||||||||
| Tangible book value per share (non-GAAP) | 5.86 | 5.76 | 6.43 | |||||||||
| Pre-tax, pre-provision income excluding balance sheet optimization | ||||||||||||
| Three Months Ended | ||||||||||||
| (Dollars in thousands) | June 30, 2026 | March 31, 2026 | June 30, 2025 | |||||||||
| Net income (loss) (GAAP) | $ | 1,694 | $ | (8,042 | ) | $ | 1,225 | |||||
| Include: Provision (credit) for income taxes | 435 | (2,474 | ) | 322 | ||||||||
| Include: Provision for credit losses | - | 1,155 | - | |||||||||
| Exclude: Balance sheet optimization | - | 11,350 | - | |||||||||
| Pre-tax, pre-provision income (loss) (non-GAAP) | $ | 2,129 | $ | 1,989 | $ | 1,547 | ||||||
| Net income (loss) and earnings (loss) per share including balance sheet optimization | ||||||||||||
| Three Months Ended | ||||||||||||
| (Dollars in thousands) | June 30, 2026 | March 31, 2026 | June 30, 2025 | |||||||||
| Net income (loss) (GAAP) | $ | 1,694 | $ | (8,042 | ) | $ | 1,225 | |||||
| Exclude impact of securities loss restructure, net of tax | - | 8,698 | - | |||||||||
| Net income excluding securities restructure (non-GAAP) | $ | 1,694 | $ | 656 | $ | 1,225 | ||||||
| Basic earnings (loss) per share (GAAP) | $ | 0.08 | $ | (0.39 | ) | $ | 0.06 | |||||
| Exclude impact of securities loss restructure, net of tax | - | 0.42 | - | |||||||||
| Basic earnings per share excluding securities restructure (non-GAAP) | $ | 0.08 | $ | 0.03 | $ | 0.06 | ||||||
| Diluted earnings (loss) per share (GAAP) | $ | 0.08 | $ | (0.39 | ) | $ | 0.06 | |||||
| Exclude impact of securities loss restructure, net of tax | - | 0.42 | - | |||||||||
| Diluted earnings per share excluding securities restructure (non-GAAP) | $ | 0.08 | $ | 0.03 | $ | 0.06 | ||||||
| Non-interest income, excluding balance sheet optimization | ||||||||||||
| Three Months Ended | ||||||||||||
| (Dollars in thousands) | June 30, 2026 | March 31, 2026 | June 30, 2025 | |||||||||
| Non-interest income (GAAP) | $ | 3,618 | $ | (8,034 | ) | $ | 3,426 | |||||
| Exclude impact of securities loss restructure, net of tax | - | 11,350 | - | |||||||||
| Non-interest income (non-GAAP) | $ | 3,618 | $ | 3,316 | $ | 3,426 | ||||||
| Return on average assets, return on average equity, return on average tangible equity excluding securities restructure | ||||||||||||
| Three Months Ended | ||||||||||||
| June 30, 2026 | March 31, 2026 | June 30, 2025 | ||||||||||
| Net income excluding securities restructure (non-GAAP) | $ | 1,694 | $ | 656 | $ | 1,225 | ||||||
| Average assets | $ | 1,453,226 | $ | 1,504,206 | $ | 1,509,074 | ||||||
| Return on average assets (non-GAAP) | 0.47 | % | 0.18 | % | 0.33 | % | ||||||
| Average equity | $ | 146,400 | $ | 164,918 | $ | 161,587 | ||||||
| Return on average equity (non-GAAP) | 4.64 | % | 1.61 | % | 3.04 | % | ||||||
| Average tangible equity (non-GAAP) | $ | 119,242 | $ | 137,750 | $ | 134,351 | ||||||
| Return on average tangible equity (non-GAAP) | 5.70 | % | 1.93 | % | 3.66 | % | ||||||
| Allowance for credit losses reconciliation, excluding Government Guaranteed loans | ||||||||||||
| (Dollars in thousands) | June 30, 2026 | March 31, 2026 | June 30, 2025 | |||||||||
| Allowance for credit losses | $ | 15,336 | $ | 15,248 | $ | 15,426 | ||||||
| Loans receivable (GAAP) | $ | 1,093,299 | $ | 1,092,484 | $ | 1,068,080 | ||||||
| Exclude: Government Guaranteed loans | (41,563 | ) | (42,670 | ) | (46,965 | ) | ||||||
| Loans receivable excluding Government Guaranteed loans (non-GAAP) | $ | 1,051,736 | $ | 1,049,814 | $ | 1,021,115 | ||||||
| Allowance for credit losses to loans receivable (GAAP) | 1.40 | % | 1.40 | % | 1.44 | % | ||||||
| Allowance for credit losses to loans receivable excluding Government Guaranteed loans (non-GAAP) | 1.46 | % | 1.45 | % | 1.51 | % | ||||||
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 2027 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 data) (Unaudited) | June 30, 2026 | March 31, 2026 | June 30, 2025 | ||||||||
| ASSETS | |||||||||||
| Cash and cash equivalents (including interest-earning accounts of | $ | 102,214 | $ | 116,866 | $ | 34,172 | |||||
| Investment securities: | |||||||||||
| Available for sale, at estimated fair value | 175,890 | 154,768 | 118,777 | ||||||||
| Held to maturity, at amortized cost | - | - | 197,478 | ||||||||
| Loans receivable (net of allowance for credit losses of | |||||||||||
| 1,077,963 | 1,077,236 | 1,052,654 | |||||||||
| Prepaid expenses and other assets | 12,824 | 13,153 | 12,455 | ||||||||
| Accrued interest receivable | 4,513 | 4,133 | 4,493 | ||||||||
| Federal Home Loan Bank ("FHLB") stock, at cost | 1,631 | 1,631 | 5,516 | ||||||||
| Premises and equipment, net | 20,586 | 20,918 | 21,867 | ||||||||
| Financing lease right-of-use asset | 1,029 | 1,048 | 1,106 | ||||||||
| Deferred income taxes, net | 12,138 | 12,124 | 8,286 | ||||||||
| Goodwill | 27,076 | 27,076 | 27,076 | ||||||||
| Core deposit intangible ("CDI"), net | 55 | 77 | 147 | ||||||||
| Bank owned life insurance ("BOLI") | 35,026 | 34,779 | 32,616 | ||||||||
| TOTAL ASSETS | $ | 1,470,945 | $ | 1,463,809 | $ | 1,516,643 | |||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||
| LIABILITIES: | |||||||||||
| Deposits | $ | 1,261,602 | $ | 1,254,185 | $ | 1,209,893 | |||||
| Accrued expenses and other liabilities | 18,221 | 18,082 | 12,498 | ||||||||
| Advance payments by borrowers for taxes and insurance | 567 | 607 | 558 | ||||||||
| FHLB advances | 16,100 | 16,100 | 102,500 | ||||||||
| Junior subordinated debentures | 27,201 | 27,179 | 27,113 | ||||||||
| Finance lease liability | 1,999 | 2,020 | 2,080 | ||||||||
| Total liabilities | 1,325,690 | 1,318,173 | 1,354,642 | ||||||||
| 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, 2026 – 20,160,613 issued and outstanding; | |||||||||||
| March 31, 2026 – 20,564,719 issued and outstanding; | 200 | 203 | 208 | ||||||||
| June 30, 2025 – 20,976,200 issued and outstanding; | |||||||||||
| Additional paid-in capital | 49,483 | 51,112 | 53,501 | ||||||||
| Retained earnings | 115,006 | 113,713 | 120,522 | ||||||||
| Accumulated other comprehensive loss | (19,434 | ) | (19,392 | ) | (12,230 | ) | |||||
| Total shareholders’ equity | 145,255 | 145,636 | 162,001 | ||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 1,470,945 | $ | 1,463,809 | $ | 1,516,643 | |||||
| RIVERVIEW BANCORP, INC. AND SUBSIDIARY | |||||||||||
| Consolidated Statements of Income | |||||||||||
| Three Months Ended | |||||||||||
| (In thousands, except share data) (Unaudited) | June 30, 2026 | March 31, 2026 | June 30, 2025 | ||||||||
| INTEREST INCOME: | |||||||||||
| Interest and fees on loans receivable | $ | 14,241 | $ | 13,673 | $ | 13,352 | |||||
| Interest on investment securities - taxable | 1,253 | 1,288 | 1,667 | ||||||||
| Interest on investment securities - nontaxable | 42 | 64 | 65 | ||||||||
| Other interest and dividends | 832 | 268 | 291 | ||||||||
| Total interest and dividend income | 16,368 | 15,293 | 15,375 | ||||||||
| INTEREST EXPENSE: | |||||||||||
| Interest on deposits | 4,361 | 4,247 | 3,774 | ||||||||
| Interest on borrowings | 611 | 865 | 1,760 | ||||||||
| Total interest expense | 4,972 | 5,112 | 5,534 | ||||||||
| Net interest income | 11,396 | 10,181 | 9,841 | ||||||||
| Provision for credit losses | - | 1,155 | - | ||||||||
| Net interest income after provision for credit losses | 11,396 | 9,026 | 9,841 | ||||||||
| NON-INTEREST INCOME: | |||||||||||
| Fees and service charges | 1,641 | 1,465 | 1,572 | ||||||||
| Asset management fees | 1,634 | 1,571 | 1,552 | ||||||||
| Income from BOLI | 247 | 243 | 222 | ||||||||
| Loss on sale of investment securities | - | (11,350 | ) | - | |||||||
| Other, net | 96 | 37 | 80 | ||||||||
| Total non-interest income (loss), net | 3,618 | (8,034 | ) | 3,426 | |||||||
| NON-INTEREST EXPENSE: | |||||||||||
| Salaries and employee benefits | 8,028 | 6,874 | 7,247 | ||||||||
| Occupancy and depreciation | 1,840 | 1,927 | 1,868 | ||||||||
| Data processing | 912 | 852 | 742 | ||||||||
| Amortization of CDI | 22 | 23 | 24 | ||||||||
| Advertising and marketing | 330 | 235 | 237 | ||||||||
| FDIC insurance premium | 187 | 170 | 164 | ||||||||
| State and local taxes | 343 | 324 | 225 | ||||||||
| Telecommunications | 55 | 53 | 46 | ||||||||
| Professional fees | 480 | 400 | 416 | ||||||||
| Other | 688 | 650 | 751 | ||||||||
| Total non-interest expense | 12,885 | 11,508 | 11,720 | ||||||||
| INCOME (LOSS) BEFORE INCOME TAXES | 2,129 | (10,516 | ) | 1,547 | |||||||
| PROVISION FOR (BENEFIT OF) INCOME TAXES | 435 | (2,474 | ) | 322 | |||||||
| NET INCOME (LOSS) | $ | 1,694 | $ | (8,042 | ) | $ | 1,225 | ||||
| Earnings (loss) per common share: | |||||||||||
| Basic | $ | 0.08 | $ | (0.39 | ) | $ | 0.06 | ||||
| Diluted | $ | 0.08 | $ | (0.39 | ) | $ | 0.06 | ||||
| Weighted average number of common shares outstanding: | |||||||||||
| Basic | 20,373,277 | 20,670,199 | 20,976,200 | ||||||||
| Diluted | 20,373,277 | 20,670,199 | 20,976,200 | ||||||||
| (Dollars in thousands) | At or for the three months ended | ||||||||||
| June 30, 2026 | March 31, 2026 | June 30, 2025 | |||||||||
| AVERAGE BALANCES | |||||||||||
| Average interest–earning assets | $ | 1,369,719 | $ | 1,412,633 | $ | 1,424,130 | |||||
| Average interest-bearing liabilities | 999,332 | 1,030,844 | 1,021,606 | ||||||||
| Net average earning assets | 370,387 | 381,789 | 402,524 | ||||||||
| Average loans | 1,090,371 | 1,083,614 | 1,066,712 | ||||||||
| Average deposits | 1,249,477 | 1,254,645 | 1,195,612 | ||||||||
| Average equity | 146,400 | 164,918 | 161,587 | ||||||||
| Average tangible equity (non-GAAP) | 119,242 | 137,750 | 134,351 | ||||||||
| ASSET QUALITY | June 30, 2026 | March 31, 2026 | June 30, 2025 | ||||||||
| Non-performing loans | $ | 8,739 | $ | 7,764 | $ | 143 | |||||
| Non-performing loans to total loans | 0.80 | % | 0.71 | % | 0.01 | % | |||||
| Non-performing assets | $ | 8,739 | $ | 7,764 | $ | 143 | |||||
| Non-performing assets to total assets | 0.59 | % | 0.53 | % | 0.01 | % | |||||
| Net loan charge-offs (recoveries) in the quarter | $ | (88 | ) | $ | 1,105 | $ | (52 | ) | |||
| Net charge-offs (recoveries) in the quarter/average net loans | -0.03 | % | 0.41 | % | (0.02 | )% | |||||
| Real estate/repossessed assets owned | $ | - | $ | - | $ | - | |||||
| Allowance for credit losses | $ | 15,336 | $ | 15,248 | $ | 15,426 | |||||
| Average interest-earning assets to average | |||||||||||
| interest-bearing liabilities | 137.06 | % | 137.04 | % | 139.40 | % | |||||
| Allowance for credit losses to | |||||||||||
| non-performing loans | 175.49 | % | 196.39 | % | 10787.41 | % | |||||
| Allowance for credit losses to total loans | 1.40 | % | 1.40 | % | 1.44 | % | |||||
| Shareholders’ equity to assets | 9.87 | % | 9.95 | % | 10.68 | % | |||||
| CAPITAL RATIOS | |||||||||||
| Total capital (to risk weighted assets) | 15.64 | % | 15.62 | % | 16.56 | % | |||||
| Tier 1 capital (to risk weighted assets) | 14.39 | % | 14.37 | % | 15.31 | % | |||||
| Common equity tier 1 (to risk weighted assets) | 14.39 | % | 14.37 | % | 15.31 | % | |||||
| Tier 1 capital (to average tangible assets) | 10.95 | % | 10.60 | % | 11.16 | % | |||||
| Tangible common equity (to average tangible assets) (non-GAAP) | 8.18 | % | 8.25 | % | 9.05 | % | |||||
| DEPOSIT MIX | June 30, 2026 | March 31, 2026 | June 30, 2025 | ||||||||
| Interest checking | $ | 348,433 | $ | 316,449 | $ | 277,632 | |||||
| Regular savings | 149,972 | 153,490 | 159,747 | ||||||||
| Money market deposit accounts | 223,351 | 242,169 | 233,553 | ||||||||
| Non-interest checking | 292,672 | 293,458 | 306,768 | ||||||||
| Certificates of deposit | 247,174 | 248,619 | 232,193 | ||||||||
| Total deposits | $ | 1,261,602 | $ | 1,254,185 | $ | 1,209,893 | |||||
| COMPOSITION OF COMMERCIAL AND CONSTRUCTION LOANS | ||||||||||||||||
| Other | Commercial | |||||||||||||||
| Commercial | Real Estate | Real Estate | & Construction | |||||||||||||
| Business | Mortgage | Construction | Total | |||||||||||||
| June 30, 2026 | (Dollars in thousands) | |||||||||||||||
| Commercial business | $ | 222,902 | $ | - | $ | - | $ | 222,902 | ||||||||
| Commercial construction | - | - | 7,493 | 7,493 | ||||||||||||
| Office buildings | - | 114,894 | - | 114,894 | ||||||||||||
| Warehouse/industrial | - | 116,568 | - | 116,568 | ||||||||||||
| Retail/shopping centers/strip malls | - | 89,698 | - | 89,698 | ||||||||||||
| Assisted living facilities | - | 340 | - | 340 | ||||||||||||
| Single purpose facilities | - | 290,210 | - | 290,210 | ||||||||||||
| Land | - | 13,168 | - | 13,168 | ||||||||||||
| Multi-family | - | 102,956 | - | 102,956 | ||||||||||||
| One-to-four family construction | - | - | 14,167 | 14,167 | ||||||||||||
| Total | $ | 222,902 | $ | 727,834 | $ | 21,660 | $ | 972,396 | ||||||||
| March 31, 2026 | (Dollars in thousands) | |||||||||||||||
| Commercial business | $ | 219,846 | $ | - | $ | - | $ | 219,846 | ||||||||
| Commercial construction | - | - | 13,619 | 13,619 | ||||||||||||
| Office buildings | - | 115,462 | - | 115,462 | ||||||||||||
| Warehouse/industrial | - | 118,292 | - | 118,292 | ||||||||||||
| Retail/shopping centers/strip malls | - | 90,388 | - | 90,388 | ||||||||||||
| Assisted living facilities | - | 343 | - | 343 | ||||||||||||
| Single purpose facilities | - | 287,149 | - | 287,149 | ||||||||||||
| Land | - | 9,143 | - | 9,143 | ||||||||||||
| Multi-family | - | 103,614 | - | 103,614 | ||||||||||||
| One-to-four family construction | - | - | 10,421 | 10,421 | ||||||||||||
| Total | $ | 219,846 | $ | 724,391 | $ | 24,040 | $ | 968,277 | ||||||||
| LOAN MIX | June 30, 2026 | March 31, 2026 | June 30, 2025 | |||||||||||||
| Commercial and construction | (Dollars in thousands) | |||||||||||||||
| Commercial business | $ | 222,902 | $ | 219,846 | $ | 231,826 | ||||||||||
| Other real estate mortgage | 727,834 | 724,391 | 693,882 | |||||||||||||
| Real estate construction | 21,660 | 24,040 | 20,133 | |||||||||||||
| Total commercial and construction | 972,396 | 968,277 | 945,841 | |||||||||||||
| Consumer | ||||||||||||||||
| Real estate one-to-four family | 95,056 | 96,698 | 98,147 | |||||||||||||
| Other installment | 25,847 | 27,509 | 24,092 | |||||||||||||
| Total consumer | 120,903 | 124,207 | 122,239 | |||||||||||||
| Total loans | 1,093,299 | 1,092,484 | 1,068,080 | |||||||||||||
| Less: | ||||||||||||||||
| Allowance for credit losses | 15,336 | 15,248 | 15,426 | |||||||||||||
| Loans receivable, net | $ | 1,077,963 | $ | 1,077,236 | $ | 1,052,654 | ||||||||||
| DETAIL OF NON-PERFORMING ASSETS | ||||||||||||||||
| Northwest | Southwest | |||||||||||||||
| Oregon | Washington | Total | ||||||||||||||
| June 30, 2026 | (Dollars in thousands) | |||||||||||||||
| Commercial business | $ | 120 | $ | 487 | $ | 607 | ||||||||||
| Commercial real estate | 8,102 | 30 | 8,132 | |||||||||||||
| Total non-performing assets | $ | 8,222 | $ | 517 | $ | 8,739 | ||||||||||
| At or for the three months ended | |||||||||||
| SELECTED OPERATING DATA | June 30, 2026 | March 31, 2026 | June 30, 2025 | ||||||||
| Efficiency ratio (4) | 85.82 | % | 536.00 | % | 88.34 | % | |||||
| Coverage ratio (6) | 88.44 | % | 88.47 | % | 83.97 | % | |||||
| Return on average assets (1) | 0.47 | % | -2.17 | % | 0.33 | % | |||||
| Return on average equity (1) | 4.64 | % | -19.77 | % | 3.04 | % | |||||
| Return on average tangible equity (1) (non-GAAP) | 5.70 | % | -23.67 | % | 3.66 | % | |||||
| NET INTEREST SPREAD | |||||||||||
| Yield on loans | 5.24 | % | 5.12 | % | 5.02 | % | |||||
| Yield on investment securities | 2.75 | % | 1.82 | % | 2.09 | % | |||||
| Total yield on interest-earning assets | 4.80 | % | 4.39 | % | 4.34 | % | |||||
| Cost of interest-bearing deposits | 1.83 | % | 1.80 | % | 1.72 | % | |||||
| Cost of FHLB advances and other borrowings | 5.41 | % | 4.88 | % | 5.06 | % | |||||
| Total cost of interest-bearing liabilities | 2.00 | % | 2.01 | % | 2.17 | % | |||||
| Spread (7) | 2.80 | % | 2.38 | % | 2.17 | % | |||||
| Net interest margin | 3.34 | % | 2.92 | % | 2.78 | % | |||||
| PER SHARE DATA | |||||||||||
| Basic earnings (loss) per share (2) | $ | 0.08 | $ | (0.39 | ) | $ | 0.06 | ||||
| Diluted earnings (loss) per share (3) | 0.08 | (0.39 | ) | 0.06 | |||||||
| Book value per share (5) | 7.20 | 7.08 | 7.72 | ||||||||
| Tangible book value per share (5) (non-GAAP) | 5.86 | 5.76 | 6.43 | ||||||||
| Market price per share: | |||||||||||
| High for the period | $ | 6.08 | $ | 5.66 | $ | 6.40 | |||||
| Low for the period | 5.14 | 5.01 | 5.33 | ||||||||
| Close for period end | 5.43 | 5.50 | 5.50 | ||||||||
| Cash dividends declared per share | 0.0200 | 0.0200 | 0.0200 | ||||||||
| Average number of shares outstanding: | |||||||||||
| Basic (2) | 20,373,277 | 20,670,199 | 20,976,200 | ||||||||
| Diluted (3) | 20,373,277 | 20,670,199 | 20,976,200 | ||||||||
(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