Riverview Bancorp Insider Adds $19K Stake in Open-Market Purchase

Rhea-AI Filing Summary

On 08/04/2025, Executive Vice President & Chief Credit Officer Robert Benke filed a Form 4 showing an open-market purchase of 4,000 Riverview Bancorp (RVSB) common shares at $4.85, an outlay of roughly $19.4 thousand. After the trade, Benke directly owns 41,287 shares; he also reports 4,291 indirect shares held through the company ESOP, and the footnote confirms 8,760 shares in the Riverview 401(k) Plan. No sales, option exercises or other derivative activity were disclosed.

The filing indicates a net increase in insider ownership and may signal management confidence at a time when RVSB shares trade below $5. Because the purchase represents cash committed rather than option conversion, it aligns executive and shareholder interests without diluting equity.

Positive

• Insider purchase: EVP/CCO acquired 4,000 shares at $4.85, signalling confidence.
• Increased direct ownership: Stake rises to 41,287 shares, enhancing alignment.
• No sales or derivative activity: Pure cash purchase without dilution or hedging.

Negative

• None.

Insights

Securities Analyst

TL;DR: EVP buys $19K in RVSB stock, boosting direct stake to 41K shares—modestly positive insider signal.

The open-market purchase is small in absolute terms but meaningful for a community bank with modest liquidity. Insider buying, especially by a credit-risk officer, often reflects a favorable view of asset quality or upcoming fundamentals. No offsetting sales were reported, preserving a clean positive inference. While the dollar amount will not materially affect float, it strengthens alignment and may support sentiment in a thinly followed name.

Corporate Governance Expert

TL;DR: Transaction enhances alignment; no red flags in filing—governance positive.

Form 4 is properly executed, dated two days after the trade, meeting Section 16 timeliness. Purchase under an open-market code “P” (not Rule 10b5-1) suggests discretionary conviction. The officer now holds a combined 45K+ shares across direct, ESOP and 401(k) accounts, indicating skin-in-the-game. Absence of derivatives removes complexity. Overall, the filing supports governance best practices with transparent disclosure.

Insider Trade Summary

Net Buyer: 4,000 shares ($19,400)

Net Buy 2 txns

Insider Benke Robert

Role EVP/CCO

Bought 4,000 shs ($19K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	4,000	$4.85	$19K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 41,287 shares (Direct); Common Stock — 4,291 shares (Indirect, Shares held by the ESOP)

Footnotes (1)

1. [object Object]

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Benke Robert

(Last) (First) (Middle)

900 WASHINGTON ST, SUITE 900

(Street)

VANCOUVER WA 98660

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RIVERVIEW BANCORP INC [ RVSB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP/CCO

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/04/2025		P		4,000	A	$4.85	41,287(1)	D
Common Stock								4,291	I	Shares held by the ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 8,760 shares owned in the Riverview 401(k) Plan.

	/s/ Robert Benke	08/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many RVSB shares did EVP Robert Benke buy?

He purchased 4,000 common shares on 08/04/2025.

What was the purchase price reported in the Form 4?

The shares were bought at $4.85 per share.

What is Benke's total direct ownership after the transaction?

His direct holdings increased to 41,287 RVSB shares.

Did the filing disclose any share sales or option exercises?

No; the filing reports only an open-market purchase and lists no derivative activity.

When was the Form 4 filed?

The Form 4 was signed and filed on 08/06/2025.