$RVSB

RIVERVIEW BANCORP INC

CIK:0001041368|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
INTEREST AND DIVIDEND INCOME:
Interest and fees on loans receivable	$ 14,241	$ 13,352
Interest on investment securities - taxable	1,253	1,667
Interest on investment securities - nontaxable	42	65
Other interest and dividends	832	291
Total interest and dividend income	16,368	15,375
INTEREST EXPENSE:
Interest on deposits	4,361	3,774
Interest on borrowings	611	1,760
Total interest expense	4,972	5,534
Net interest income	11,396	9,841
Net interest income after provision for credit losses	11,396	9,841
NON-INTEREST INCOME:
Income from BOLI	247	222
Other, net	96	80
Total non-interest income, net	3,618	3,426
NON-INTEREST EXPENSE:
Salaries and employee benefits	8,028	7,247
Occupancy and depreciation	1,840	1,868
Data processing	912	742
Amortization of CDI	22	24
Advertising and marketing	330	237
FDIC insurance premium	187	164
State and local taxes	343	225
Telecommunications	55	46
Professional fees	480	416
Other	688	751
Total non-interest expense	12,885	11,720
INCOME BEFORE INCOME TAXES	2,129	1,547
INCOME TAX PROVISION	435	322
NET INCOME	$ 1,694	$ 1,225
Earnings per common share:
Basic	$ 0.08	$ 0.06
Diluted	$ 0.08	$ 0.06
Weighted average number of common shares outstanding:
Basic	20,373,277	20,976,200
Denominator-weighted average common shares outstanding	20,373,277	20,976,200
Fees and service charges
NON-INTEREST INCOME:
Non-interest income	$ 1,641	$ 1,572
Asset management fees
NON-INTEREST INCOME:
Non-interest income	$ 1,634	$ 1,552

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,694	$ 1,225
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization	710	873
Purchased loans (accretion) amortization, net	36	(46)
Stock-based compensation expense	89	109
Decrease in deferred loan origination fees, net of amortization	(146)	(125)
Income from BOLI	(247)	(222)
Changes in certain other assets and liabilities:
Prepaid expenses and other assets	126	195
Accrued interest receivable	(380)	32
Accrued expenses and other liabilities	148	(2,738)
Net cash provided (used) by operating activities	2,030	(697)
CASH FLOWS FROM INVESTING ACTIVITIES:
Loan originations, net	137	5,172
Purchases of loans receivable	(754)	(10,570)
Principal repayments on investment securities available for sale	3,566	1,965
Purchases of investment securities available for sale	(24,814)
Principal repayments on investment securities held to maturity		5,497
Proceeds from sale of shares in trading asset - VISA stock	114	248
Purchases of premises and equipment and capitalized software	(156)	(76)
Purchase of FHLB stock, net		(1,174)
Proceeds from death benefit on BOLI		1,223
Net cash (used in) provided by investing activities	(21,907)	2,285
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	7,417	(22,435)
Dividends paid	(410)	(420)
Proceeds from borrowings		237,400
Repayment of borrowings		(211,300)
Net decrease in advance payments by borrowers for taxes and insurance	(40)	(56)
Principal payments on finance lease liability	(21)	(19)
Repurchase of common stock	(1,721)
Net cash provided by financing activities	5,225	3,170
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(14,652)	4,758
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	116,866	29,414
CASH AND CASH EQUIVALENTS, END OF PERIOD	102,214	34,172
Cash paid during the period for:
Interest paid	5,003	5,624
Income taxes paid, net of refunds	28	24
NONCASH INVESTING AND FINANCING ACTIVITIES:
Dividends declared and accrued in other liabilities	403	420
Net unrealized holding (losses) gains from available for sale investment securities	(56)	1,412
Income tax effect related to other comprehensive (loss) income	14	(339)
Operating lease ROU assets obtained in exchange for operating lease liabilities		459
Conversion of shares in trading asset - VISA Stock	$ 114	$ 248

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
ASSETS
Cash and cash equivalents (including interest earning deposits in other banks of $85,772 and $104,131)	$ 102,214	$ 116,866
Investment securities:
Available for sale, at estimated fair value	175,890	154,768
Loans receivable (net of allowance for credit losses of $15,336 and $15,248)	1,077,963	1,077,236
Prepaid expenses and other assets	12,824	13,153
Accrued interest receivable	4,513	4,133
Federal Home Loan Bank ("FHLB") stock, at cost	1,631	1,631
Premises and equipment, net	20,586	20,918
Financing lease right-of-use ("ROU") asset	1,029	1,048
Deferred income taxes, net	12,138	12,124
Goodwill	27,076	27,076
Core deposit intangible ("CDI"), net	55	77
Bank owned life insurance ("BOLI")	35,026	34,779
TOTAL ASSETS	1,470,945	1,463,809
LIABILITIES:
Deposits	1,261,602	1,254,185
Accrued expenses and other liabilities	18,221	18,082
Advance payments by borrowers for taxes and insurance	567	607
FHLB advances	16,100	16,100
Junior subordinated debentures	27,201	27,179
Finance lease liability	1,999	2,020
Total liabilities	1,325,690	1,318,173
COMMITMENTS AND CONTINGENCIES (See Note 13)
SHAREHOLDERS' EQUITY:
Serial preferred stock, $.01 par value; 250,000 shares authorized; issued and outstanding: none
Common stock, $.01 par value; 50,000,000 shares authorized June 30, 2026 - 20,160,613 shares issued and outstanding March 31, 2026 - 20,564,719 shares issued and outstanding	200	203
Additional paid-in capital	49,483	51,112
Retained earnings	115,006	113,713
Accumulated other comprehensive loss	(19,434)	(19,392)
Total shareholders' equity	145,255	145,636
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,470,945	$ 1,463,809