[SCHEDULE 13G/A] Riverview Bancorp Inc SEC Filing

Rhea-AI Filing Summary

FJ Capital Management LLC, Financial Opportunity Fund LLC and Martin Friedman report beneficial ownership of 606,634 shares of Riverview Bancorp common stock, representing 2.89% of the class. The shares are held by Financial Opportunity Fund LLC; FJ Capital is the fund's managing member and Martin Friedman is the managing member of FJ Capital. The filing records shared voting and shared dispositive power over the reported shares and includes a certification that the securities were not acquired to change or influence control of the issuer. The reporting persons disclaim beneficial ownership to the extent of the fund's holdings.

Positive

• Full disclosure of a 606,634-share (2.89%) position in Riverview Bancorp improves market transparency.
• Certification in the filing states the shares were not acquired to change or influence control, indicating no declared activist intent.

Negative

• None.

Insights

Financial Analyst

TL;DR: A disclosed 2.89% stake is modest and unlikely to affect Riverview Bancorp's control; the filing increases transparency about ownership.

The Schedule 13G/A shows a 606,634-share position representing 2.89% of RVSB common stock, held by Financial Opportunity Fund LLC. FJ Capital Management is identified as the fund's managing member and Martin Friedman as the managing member of FJ Capital. The reported position is described with shared voting and dispositive power, and the filing includes an explicit certification that the shares were not acquired to influence control. From an earnings and capital-structure perspective this is a small, non-controlling stake and therefore neutral in terms of immediate market impact.

Corporate Governance Expert

TL;DR: Filing indicates passive disclosure with explicit non-control intent; governance implications are minimal given the sub-5% stake.

The disclosure identifies the ownership chain and management relationships: Financial Opportunity Fund LLC holds the shares; FJ Capital Management LLC is the managing member; Martin Friedman is the managing member of FJ Capital. The reporting persons state shared voting and dispositive power and include a certification denying any intent to change or influence issuer control. Because the position is below 5% and accompanied by a non-control certification, this filing signals transparency rather than a governance change or activist intent.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Riverview Bancorp (RVSB)

(Name of Issuer)

Common Stock

(Title of Class of Securities)

769397100

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 769397100

1

Names of Reporting Persons

FJ Capital Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power
6	Shared Voting Power 606,634.00
7	Sole Dispositive Power
8	Shared Dispositive Power 606,634.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

606,634.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.89 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 606,634 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

SCHEDULE 13G

CUSIP No. 769397100

1

Names of Reporting Persons

Financial Opportunity Fund LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power
6	Shared Voting Power 606,634.00
7	Sole Dispositive Power
8	Shared Dispositive Power 606,634.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

606,634.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.89 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 606,634 shares of common stock of the Issuer held by Financial Opportunity Fund LLC.

SCHEDULE 13G

CUSIP No. 769397100

1

Names of Reporting Persons

Martin Friedman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power
6	Shared Voting Power 606,634.00
7	Sole Dispositive Power
8	Shared Dispositive Power 606,634.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

606,634.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.89 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 606,634 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Riverview Bancorp (RVSB)
(b)	Address of issuer's principal executive offices: 900 Washington Street, Suite 900, Vancouver, WA 98660
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed on behalf of the following Reporting Persons: FJ Capital Management LLC Financial Opportunity Fund LLC Martin Friedman
(b)	Address or principal business office or, if none, residence: FJ Capital Management, LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Martin Friedman 7901 Jones Branch Drive, Suite 210 McLean, VA 22102
(c)	Citizenship: Financial Opportunity Fund LLC, and FJ Capital Management LLC - Delaware limited liability companies Martin Friedman - United States citizen
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 769397100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: FJ Capital Management LLC - 606,634 shares Financial Opportunity Fund LLC - 606,634 shares Martin Friedman - 606,634 shares
(b)	Percent of class: FJ Capital Management LLC - 2.89% Financial Opportunity Fund LLC - 2.89% Martin Friedman - 2.89%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote:
	(ii) Shared power to vote or to direct the vote: FJ Capital Management LLC - 606,634 shares Financial Opportunity Fund LLC - 606,634 shares Martin Friedman - 606,634 shares
	(iii) Sole power to dispose or to direct the disposition of:
	(iv) Shared power to dispose or to direct the disposition of: FJ Capital Management LLC - 606,634 shares Financial Opportunity Fund LLC - 606,634 shares Martin Friedman - 606,634 shares
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FJ Capital Management LLC

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	07/17/2025

Financial Opportunity Fund LLC

Signature:	FJ Capital Management LLC
Name/Title:	its Managing Member
Date:	07/17/2025

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	07/17/2025

Martin Friedman

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	07/17/2025

FAQ

How many Riverview Bancorp (RVSB) shares are reported by FJ Capital and affiliates?

The filing reports 606,634 shares of RVSB common stock held by Financial Opportunity Fund LLC (reported by FJ Capital Management LLC and Martin Friedman).

What percentage of RVSB does the reported position represent?

The reported position represents 2.89% of Riverview Bancorp's common stock.

Who is the beneficial owner and who manages the fund in the filing?

The shares are held by Financial Opportunity Fund LLC; FJ Capital Management LLC is the fund's managing member and Martin Friedman is the managing member of FJ Capital.

Does the filing indicate an intent to influence control of RVSB?

No. The filing includes a certification that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer.

Does the reporting person claim sole voting or dispositive power over the shares?

The filing reports shared voting power and shared dispositive power for the 606,634 shares; no sole power is reported.