Riverview Bancorp Earns $341,000 In Second Fiscal Quarter Of 2014

The following excerpt is from the company's SEC filing.

Vancouver, WA – October 29, 2013 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported net income of $341,000, or $0.02 per diluted share, in its second fiscal quarter ended September 30, 2013. This compares to net income of $1.6 million, or $0.07 per diluted share, in the preceding quarter and $1.8 million, or $0.08 per diluted share, in the second quarter a year ago.

“Our second quarter profits are a result of our improved credit quality metrics and sound capital ratios, making Riverview profitable for the fifth consecutive quarter,” said Pat Sheaffer, Chairman and CEO. “Going forward we will continue to work on improving our asset quality and growing our loan portfolio, while looking for opportunities to grow our core customer deposits and build new client relationships in our existing footprint.”

·   Net charge-offs for the second quarter totaled just $1,000 compared to net recoveries of $554,000 in the preceding quarter and net charge-offs of $1.3 million in the second quarter a year ago

·   Capital levels continue to exceed the regulatory requirements to be categorized as “well capitalized” with a total risk-based capital ratio of 16.03% and a Tier 1 leverage ratio of 10.20%

Classified assets decreased $1.2 million during the quarter to $58.6 million at September 30, 2013 compared to $59.8 million at June 30, 2013 and $103.3 million at September 30, 2012. The classified assets to total capital ratio decreased to 64.4% at September 30, 2013.

“Our classified asset team has continued to make meaningful progress in reducing our level of problem assets, with nonperforming loans, real estate owned (“REO”) and net charge-offs improving during the quarter,” said Ron Wysaske, President and COO. “Our expectation is that classified assets will continue to decline in the fiscal year based on the significant amount of progress our team has made working on our existing problem assets.”

Nonperforming loans declined $5.2 million during the quarter to $16.2 million, or 3.09% of total loans, at September 30, 2013 compared to $21.4 million, or 4.07% of total loans at June 30, 2013. The improvement was primarily due to a $4.0 million commercial real estate (“CRE”) loan in Portland that was paid down and returned to accrual status during the quarter.

REO balances were $13.5 million at September 30, 2013 compared to $13.2 million at June 30, 2013 and $24.5 million at September 30, 2012.  During the quarter, REO sales totaled $1.4 million with write-downs of $377,000 and additions of $2.1 million. Several additional REO properties, totaling $5.5 million, that were scheduled to close in the second fiscal quarter were delayed and are expected to close in the December quarter.

“We continue to be aggressive in the marketing and pricing of our existing REO properties in an attempt to liquidate these properties quickly.  Based on sales activity during the last six months, as well as pending sales activity, the updated pricing strategy appears to be working,” Wysaske concluded.

As a result of significant improvement in credit quality, coupled with the decline in net loan charge-offs and substantial loan loss reserves already in place, Riverview recorded no provision during the second quarter.  This compares to a $2.5 million provision recapture in the preceding quarter and a $500,000 provision for loan losses in the second quarter a year ago.

The allowance for loan losses was $13.7 million at September 30, 2013, representing 2.62% of total loans and 84.67% of nonperforming loans. At June 30, 2013, the allowance for loan losses was $13.7 million, representing 2.61% of total loans and 64.03% of nonperforming loans. Riverview recorded $1,000 in net loan charge-offs during the second fiscal quarter, compared to a net recovery of $554,000 in the first fiscal quarter.  Total net charge-offs during the last twelve months totaled $344,000.

Riverview’s performing loan portfolio increased by $2.8 million during the quarter. However, due to Riverview’s continued focus on reducing nonperforming and classified loan balances, total loans declined during the quarter.  Net loans were $509.4 million at September 30, 2013 compared to $511.7 million at June 30, 2013 and $562.1 million at September 30, 2012.

“We continue to look for ways to improve our lending infrastructure and improve efficiencies,” said Wysaske.  “We recently reallocated internal staff to provide our lending teams with additional resources to improve our lending capacity. As classified loan balances continue to decline, we expect that our loan balance growth will continue to improve.” During the second fiscal quarter, new loan production totaled $27.5 million.

The CRE loan portfolio totaled $293.9 million at September 30, 2013, of which 32% was owner-occupied and 68% was investor-owned. The CRE portfolio contained eight loans totaling $8.2 million that were nonperforming, representing 2.8% of the total CRE portfolio and 50.8% of total nonperforming loans.

Total deposits increased $13.3 million to $672.8 million at September 30, 2013 compared to $659.5 million three months earlier. The Company’s focus remains on growing our low cost core customer deposits.

Shareholders’ equity improved to $81.0 million at quarter-end, compared to $80.1 million three months earlier and $75.6 million a year earlier. Tangible book value per share increased to $2.45 per diluted share compared to $2.41 per diluted share at June 30, 2013 and $2.20 a year ago.

In fiscal 2012, Riverview established a valuation allowance against its deferred tax asset. At September 30, 2013, the total valuation allowance was $15.7 million. The Company continues to review the deferred tax asset on a quarterly basis to determine the appropriate valuation allowance.  Any future reversals of the deferred tax asset valuation allowance could decrease our income tax expense, and increase both after tax earnings and shareholders’ equity.

Riverview’s second quarter net interest income was $6.1 million compared to $6.2 million in the preceding quarter and $7.8 million in the second quarter a year ago.  In the first six months of fiscal year 2014, the net interest income was $12.3 million compared to $15.9 million in the same period a year earlier.

“Our margin remained under pressure during the quarter due to an increase in cash balances compared to a year ago, as well as the re-pricing of loans in the loan portfolio to the current lower interest rates,” said Wysaske. “We deployed over $30 million of cash in the last six months into our investment portfolio in order to help offset some of the impact from the continued low interest rates.” Riverview’s net interest margin was 3.37% in the fiscal second quarter compared to 3.51% for the preceding quarter and 4.31% in the fiscal second quarter a year ago.

Non-interest income was $1.9 million in the second quarter compared to $2.2 million in the preceding quarter and $2.3 million in the second quarter a year ago. The decline from the year ago quarter was partly due to $232,000 in fees and service charges resulting from loan prepayment penalties in the second quarter a year ago.  Asset management fees

increased to $595,000 during the quarter compared to $504,000 in the same quarter a year ago as a result of an increase in assets under management at our Trust company.

Non-interest expense decreased to $7.6 million in the second quarter of fiscal 2014 compared to $9.2 million in the preceding quarter and $7.8 million in the second quarter of fiscal 2013. REO expenses decreased $1.1 million compared to the preceeding quarter due to our lower REO balances and fewer writedowns.

Riverview continues to maintain capital levels in excess of the regulatory requirements to be categorized as “well capitalized” with a total risk-based capital ratio of 16.03% and a Tier 1 leverage ratio of 10.20% at September 30, 2013.

As of September 30, 2013, the Bank had available total and contingent liquidity of more than $500 million, representing 64% of total assets. Included in the Bank’s total liquidity was more than $175 million of cash and short-term investments.

In addition to results presented in accordance with generally accepted accounting principles in the United States of America (GAAP), this press release contains certain non-GAAP financial measures. Riverview believes that certain non-GAAP financial measures provide investors with information useful in understanding the company’s financial performance; however, readers of this report are urged to review these non-GAAP financial measures in conjunction with GAAP results as reported.

Financial measures that exclude intangible assets are non-GAAP measures. To provide investors with a broader understanding of capital adequacy, Riverview provides non-GAAP financial measures for tangible common equity, along with the GAAP measure. Tangible common equity is calculated as shareholders’ equity less goodwill and other intangible assets. In addition, tangible assets are total assets less goodwill and other intangible assets.

The following table provides a reconciliation of ending shareholders’ equity (GAAP) to ending tangible shareholders’ equity (non-GAAP), and ending assets (GAAP) to ending tangible assets (non-GAAP).

(Dollars in thousands)   September 30, 2013     June 30, 2013     September 30, 2012     March 31, 2013                             Shareholders' equity   $ 80,968     $ 80,144     $ 75,607     $ 78,442   Goodwill     25,572       25,572       25,572       25,572   Other intangible assets, net     427       455       520       454                                     Tangible shareholders' equity   $ 54,969     $ 54,117     $ 49,515     $ 52,416                                     Total assets   $ 788,878     $ 774,578     $ 809,553     $ 777,003   Goodwill     25,572       25,572       25,572       25,572   Other intangible assets, net     427       455       520       454                                     Tangible assets   $ 762,879     $ 748,551     $ 783,461     $ 750,977  

Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington – just north of Portland, Oregon on the I-5 corridor. With assets of $789 million, it is the parent company of the 90 year-old Riverview Community Bank, as well as Riverview Asset Management Corp. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial and retail customers. There are 18 branches, including thirteen in the Portland-Vancouver area and three lending centers.

Such forward-looking statements may include projections. Any such projections were not prepared in accordance with published guidelines of the American Institute of Certified Public Accountants or the Securities Exchange Commission regarding projections and forecasts nor have such projections been audited, examined or otherwise reviewed by independent auditors of the Company. In addition, such projections are based upon many estimates and inherently subject to significant economic and competitive uncertainties and contingencies, many of which are beyond the control of management of the Company. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by the Company that the projections will prove to be correct.

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 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 2014 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 operating and stock price performance.

RIVERVIEW BANCORP, INC. AND SUBSIDIARY                         Consolidated Balance Sheets                         (In thousands, except share data)  (Unaudited)   September 30, 2013     June 30, 2013     September 30, 2012     March 31,  2013   ASSETS                                                   Cash (including interest-earning accounts of $99,955, $96,110, $83,642   $ 114,337     $ 111,878     $ 98,367     $ 115,415   and $100,093)                                 Certificate of deposits     37,920       42,652       41,797       44,635   Loans held for sale     1,571       1,258       1,289       831   Investment securities available for sale, at fair value     21,899       14,590       6,278       6,216   Mortgage-backed securities held to maturity, at amortized     108       122       164       125   Mortgage-backed securities available for sale, at fair value     17,706       6,068       679       431   Loans receivable (net of allowance for loan losses of $13,696, $13,697,                           $20,140, and $15,643)     509,447       511,692       562,058       520,369   Real estate and other pers. property owned     13,481       13,165       24,481       15,638   Prepaid expenses and other assets     3,141       2,800       3,894       3,063   Accrued interest receivable     1,659       1,751       1,958       1,747   Federal Home Loan Bank stock, at cost     7,023       7,089       7,285       7,154   Premises and equipment, net     16,895       17,708       17,745       17,693   Deferred income taxes, net     271       498       616       522   Mortgage servicing rights, net     388       406       420       388   Goodwill     25,572       25,572       25,572       25,572   Core deposit intangible, net     39       49       100       66   Bank owned life insurance     17,421       17,280       16,850       17,138                                     TOTAL ASSETS   $ 788,878     $ 774,578     $ 809,553     $ 777,003                                     LIABILITIES AND EQUITY                                                                   LIABILITIES:                                 Deposit accounts   $ 672,806     $ 659,495     $ 699,227     $ 663,806   Accrued expenses and other liabilities     8,887       8,966       7,926       8,006   Advance payments by borrowers for taxes and insurance     486       237       1,060       1,025   Junior subordinated debentures     22,681       22,681       22,681       22,681   Capital lease obligation     2,401       2,420       2,477       2,440   Total liabilities     707,261       693,799       733,371       697,958                                     EQUITY:                                 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, 2013 - 22,471,890 issued and outstanding;                                 June 30, 2013 – 22,471,890 issued and outstanding;     225       225       225       225       September 30, 2012 - 22,471,890 issued and outstanding;                                 March 31, 2013 – 22,471,890 issued and outstanding;                                 Additional paid-in capital     65,557       65,541       65,576       65,551   Retained earnings     16,150       15,809       11,543       14,169   Unearned shares issued to employee stock ownership trust     (438 )     (464 )     (541 )     (490 ) Accumulated other comprehensive loss     (526 )     (967 )     (1,196 )     (1,013 ) Total shareholders’ equity     80,968       80,144       75,607       78,442                                     Noncontrolling interest     649       635       575       603   Total equity     81,617       80,779       76,182       79,045                                     TOTAL LIABILITIES AND EQUITY   $ 788,878     $ 774,578     $ 809,553     $ 777,003  

RVSB Second Quarter Fiscal 2014 Results October 29, 2013 Page 6   RIVERVIEW BANCORP, INC. AND SUBSIDIARY                               Consolidated Statements of Income                                   Three Months Ended     Six Months Ended   (In thousands, except share data)   (Unaudited)   Sept. 30, 2013     June 30, 2013     Sept. 30, 2012     Sept. 30, 2013     Sept. 30, 2012   INTEREST INCOME:                               Interest and fees on loans receivable   $ 6,465     $ 6,605     $ 8,468     $ 13,070     $ 17,513   Interest on investment securities-taxable     77       39       38       116       91   Interest on investment securities-non taxable     -       -       7       -       15   Interest on mortgage-backed securities     52       16       7       68       15   Other interest and dividends     170       171       128       341       257   Total interest income     6,764       6,831       8,648       13,595       17,891                                             INTEREST EXPENSE:                                         Interest on deposits     514       527       699       1,041       1,522   Interest on borrowings     150       150       162       300       511   Total interest expense     664       677       861       1,341       2,033   Net interest income     6,100       6,154       7,787       12,254       15,858   Less provision for loan losses     -       (2,500 )     500       (2,500 )     4,500                                             Net interest income after provision for loan losses     6,100       8,654       7,287       14,754       11,358                                             NON-INTEREST INCOME:                                         Fees and service charges     1,094       1,030       1,331       2,124       2,388   Asset management fees     595       736       504       1,331       1,108   Gain on sale of loans held for sale     116       317       152       433       879   Bank owned life insurance income     141       142       148       283       297   Other     (59 )     21       179       (38 )     82   Total non-interest income     1,887       2,246       2,314       4,133       4,754                                             NON-INTEREST EXPENSE:                                         Salaries and employee benefits     3,867       3,870       3,609       7,737       7,402   Occupancy and depreciation     1,190       1,244       1,236       2,434       2,470   Data processing     430       688       292       1,118       606   Amortization of core deposit intangible     9       17       18       26       37   Advertising and marketing expense     204       204       269       408       488   FDIC insurance premium     417       411       394       828       681   State and local taxes     108       126       137       234       285   Telecommunications     81       68       116       149       237   Professional fees     315       338       281       653       702   Real estate owned expenses     492       1,612       891       2,104       1,830   Other     534       665       569       1,199       1,350   Total non-interest expense     7,647       9,243       7,812       16,890       16,088                                             INCOME BEFORE INCOME TAXES     340       1,657       1,789       1,997       24   PROVISION (BENEFIT) FOR INCOME TAXES     (1 )     17       2       16       17   NET INCOME   $ 341     $ 1,640     $ 1,787     $ 1,981     $ 7                                             Earnings (loss) per common share:                                         Basic   $ 0.02     $ 0.07     $ 0.08     $ 0.09     $ -   Diluted   $ 0.02     $ 0.07     $ 0.08     $ 0.09     $ -   Weighted average number of shares outstanding:                                         Basic     22,364,120       22,357,962       22,339,487       22,361,058       22,336,425   Diluted     22,365,460       22,358,633       22,339,487       22,361,941       22,336,425           RVSB Second Quarter Fiscal 2014 Results October 29, 2013 Page 7   (Dollars in thousands)   At or for the three months ended     At or for the six months ended       Sept. 30, 2013     June 30, 2013     Sept. 30, 2012     Sept. 30, 2013     Sept. 30, 2012   AVERAGE BALANCES                               Average interest–earning assets   $ 718,118     $ 702,926     $ 716,932     $ 710,559     $ 742,403   Average interest-bearing liabilities     574,990       568,246       591,460       571,631       613,674   Net average earning assets     143,128       134,680       125,472       138,928       128,729   Average loans     525,490       531,427       605,382       528,443       638,408   Average deposits     670,820       657,136       699,243       664,015       715,936   Average equity     81,906       79,997       76,008       80,957       76,244   Average tangible equity     55,884       53,974       49,886       54,935       50,194     ASSET QUALITY   Sept. 30, 2013   June 30, 2013   Sept. 30, 2012               Non-performing loans   16,175   21,390   28,031 Non-performing loans to total loans   3.09%   4.07%   4.81% Real estate/repossessed assets owned   13,481   13,165   24,481 Non-performing assets   29,656   34,555   52,512 Non-performing assets to total assets   3.76%   4.46%   6.49% Net loan charge-offs in the quarter   1   (554)   1,332 Net charge-offs in the quarter/average net loans   0.00%   (0.42)%   0.87%               Allowance for loan losses   13,696   13,697   20,140 Average interest-earning assets to average               interest-bearing liabilities   124.89%   123.70%   121.21% Allowance for loan losses to               non-performing loans   84.67%   64.03%   71.85% Allowance for loan losses to total loans   2.62%   2.61%   3.46% Shareholders’ equity to assets   10.26%   10.35%   9.34%                             CAPITAL RATIOS             Total capital (to risk weighted assets)   16.03%   15.81%   13.41% Tier 1 capital (to risk weighted assets)   14.76%   14.54%   12.13% Tier 1 capital (to leverage assets)   10.20%   10.27%   9.09% Tangible common equity (to tangible assets)   7.21%   7.23%   6.32%   DEPOSIT MIX   Sept. 30, 2013     June 30, 2013     Sept. 30, 2012     March 31, 2013                             Interest checking   $ 93,117     $ 93,058     $ 80,634     $ 91,754   Regular savings     60,862       55,716       49,813       54,316   Money market deposit accounts     225,921       213,239       228,236       217,091   Non-interest checking     118,101       117,498       136,661       112,527   Certificates of deposit     174,805       179,984       203,883       188,118   Total deposits   $ 672,806     $ 659,495     $ 699,227     $ 663,806           RVSB Second Quarter Fiscal 2014 Results October 29, 2013 Page 8                             COMPOSITION OF COMMERCIAL AND CONSTRUCTION LOANS                                                   Commercial           Commercial             Real Estate     Real Estate     & Construction       Commercial     Mortgage     Construction     Total   September 30, 2013   (Dollars in thousands)   Commercial   $ 70,510     $ -     $ -     $ 70,510   Commercial construction     -       -       7,537       7,537   Office buildings     -       83,560       -       83,560   Warehouse/industrial     -       43,501       -       43,501   Retail/shopping centers/strip malls     -       64,802       -       64,802   Assisted living facilities     -       7,657       -       7,657   Single purpose facilities     -       94,415       -       94,415   Land     -       17,522       -       17,522   Multi-family     -       36,800       -       36,800   One-to-four family     -       -       4,313       4,313     Total   $ 70,510     $ 348,257     $ 11,850     $ 430,617                                     March 31, 2013   (Dollars in thousands)   Commercial   $ 71,935     $ -     $ -     $ 71,935   Commercial construction     -       -       5,719       5,719   Office buildings     -       86,751       -       86,751   Warehouse/industrial     -       41,124       -       41,124   Retail/shopping centers/strip malls     -       67,472       -       67,472   Assisted living facilities     -       13,146       -       13,146   Single purpose facilities     -       89,198       -       89,198   Land     -       23,404       -       23,404   Multi-family     -       34,302       -       34,302   One-to-four family     -       -       3,956       3,956     Total   $ 71,935     $ 355,397     $ 9,675     $ 437,007     LOAN MIX   Sept. 30, 2013     June 30, 2013     Sept. 30, 2012     March 31, 2013   Commercial and construction                           Commercial   $ 70,510     $ 69,175     $ 74,953     $ 71,935     Other real estate mortgage     348,257       350,122       385,715       355,397     Real estate construction     11,850       10,792       16,920       9,675       Total commercial and construction     430,617       430,089       477,588       437,007   Consumer                                   Real estate one-to-four family     90,550       93,341       102,473       97,140     Other installment     1,976       1,959       2,137       1,865       Total consumer     92,526       95,300       104,610       99,005                                     Total loans     523,143       525,389       582,198       536,012                                     Less:                                   Allowance for loan losses     13,696       13,697       20,140       15,643     Loans receivable, net   $ 509,447     $ 511,692     $ 562,058     $ 520,369           RVSB Second Quarter Fiscal 2014 Results October 29, 2013 Page 9   DETAIL OF NON-PERFORMING ASSETS                                                                           Northwest     Other     Southwest     Other                   Oregon     Oregon     Washington     Washington     Other     Total   September 30, 2013   (dollars in thousands)   Non-performing assets                                                                           Commercial   $ -     $ 161     $ 519     $ -     $ -     $ 680   Commercial real estate     2,265       -       5,723       224       -       8,212   Land     418       800       668       -       -       1,886   Multi-family     2,532       -       -       -       -       2,532   Commercial construction     -       -       -       -       -       -   One-to-four family construction     -       -       -       -       -       -   Real estate one-to-four family     402       230       1,690       543       -       2,865   Consumer     -       -       -       -       -       -   Total non-performing loans     5,617       1,191       8,600       767       -       16,175                                                     REO     -       3,858       7,656       1,967       -       13,481                                                     Total non-performing assets   $ 5,617     $ 5,049     $ 16,256     $ 2,734     $ -     $ 29,656     DETAIL OF SPEC CONSTRUCTION AND LAND DEVELOPMENT LOANS                                                         Northwest     Other     Southwest     Other                   Oregon     Oregon     Washington     Washington     Other     Total   September 30, 2013   (dollars in thousands)   Land and Spec Construction Loans                                                                           Land Development Loans   $ 667     $ 4,046     $ 12,809     $ -     $ -     $ 17,522   Spec Construction Loans     -       -       3,986       -       -       3,986                                                     Total Land and Spec Construction   $ 667     $ 4,046     $ 16,795     $ -     $ -     $ 21,508             RVSB Second Quarter Fiscal 2014 Results October 29, 2013 Page 10                                     At or for the three months ended     At or for the six months ended   SELECTED OPERATING DATA   Sept. 30, 2013     June 30, 2013     Sept. 30, 2012     Sept. 30, 2013     Sept. 30, 2012                                   Efficiency ratio (4)     95.74 %     110.04 %     77.34 %     103.07 %     78.05 % Coverage ratio (6)     79.77 %     66.58 %     99.68 %     72.55 %     98.57 % Return on average assets (1)     0.17 %     0.85 %     0.88 %     0.51 %     0.00 % Return on average equity (1)     1.65 %     8.22 %     9.33 %     4.88 %     0.02 %                                           NET INTEREST SPREAD                                         Yield on loans     4.88 %     4.99 %     5.55 %     4.93 %     5.47 % Yield on investment securities     1.57 %     1.44 %     2.38 %     1.53 %     2.74 %     Total yield on interest earning assets     3.74 %     3.90 %     4.79 %     3.82 %     4.81 %                                           Cost of interest bearing deposits     0.37 %     0.39 %     0.49 %     0.38 %     0.52 % Cost of FHLB advances and other borrowings     2.37 %     2.40 %     2.57 %     2.38 %     4.05 %     Total cost of interest bearing liabilities     0.46 %     0.48 %     0.58 %     0.47 %     0.66 %                                           Spread (7)     3.28 %     3.42 %     4.21 %     3.35 %     4.15 % Net interest margin     3.37 %     3.51 %     4.31 %     3.44 %     4.26 %                                           PER SHARE DATA                                         Basic earnings per share (2)   $ 0.02     $ 0.07     $ 0.08     $ 0.09     $ -   Diluted earnings per share (3)   $ 0.02     $ 0.07     $ 0.08     $ 0.09     $ -   Book value per share (5)     3.60       3.57       3.36       3.60       3.36   Tangible book value per share (5)     2.45       2.41       2.20       2.45       2.20   Market price per share:                                           High for the period   $ 2.96     $ 2.67     $ 1.49     $ 2.96     $ 2.29     Low for the period     2.42       2.27       1.24       2.27       1.08     Close for period end     2.63       2.51       1.37       2.63       1.37   Cash dividends declared per share     -       -       -       -       -                                             Average number of shares outstanding:                                           Basic (2)     22,364,120       22,357,962       22,339,487       22,361,058       22,336,425     Diluted (3)     22,365,460       22,358,633       22,339,487       22,361,941       22,336,425                                            

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.

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Other recent filings from the company include the following:

Riverview Bancorp Earns $740,000 In First Fiscal Quarter Of 2015; - July 25, 2014
Riverview Bancorp: Submission Of Matters To A Vote Of Security Holders - July 24, 2014

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