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Riverview Bancorp Inc (NASDAQ: RVSB) is a prominent American savings and loan holding company headquartered in Vancouver, Washington. It is the parent company of Riverview Community Bank, a community-oriented financial institution that emphasizes personal and local service. Riverview Bancorp operates 17 branches, primarily located in Southwest Washington and the Portland metropolitan area.
The company offers a wide array of personal and commercial financial solutions through its network. Their services include various deposit accounts such as checking and savings accounts, money market accounts, and certificates of deposit. Additionally, Riverview Bancorp provides robust online banking services, 24-hour customer information lines, ATMs, and courier services to meet the diverse needs of its clientele.
Riverview Bancorp also excels in lending services, offering commercial real estate loans, construction and land development loans, commercial and industrial loans, as well as consumer home equity loans and lines of credit. The company is committed to supporting local businesses and community development through its comprehensive suite of lending products.
In addition to traditional banking services, Riverview Bancorp operates Riverview Asset Management Corp, providing trust and investment services. This division offers professional mortgage brokerage and financial advisory services, catering to both individual and business clients.
The bank's strategic focus on community-oriented service and local market expertise has enabled it to build strong relationships with its customers. Riverview Bancorp's commitment to innovation is reflected in its adoption of advanced banking technologies, ensuring convenient and secure banking experiences for its customers.
In terms of recent achievements, Riverview Bancorp has consistently demonstrated solid financial performance, driven by its prudent management and strategic growth initiatives. The company's robust capital position, along with its diversified income streams, positions it well to navigate various economic cycles.
Riverview Bancorp’s dedication to customer service, coupled with its strong financial foundation, makes it a key player in the regional banking sector. As of the latest update, the company continues to expand its services and adapt to the evolving financial landscape, ensuring sustained growth and success.
Riverview Bancorp, Inc. (RVSB) announced a quarterly cash dividend of $0.06 per share, consistent with the previous quarter. This dividend will be payable on April 20, 2023, to shareholders of record on April 10, 2023, resulting in an annualized dividend yield of 4.47%. With total assets of $1.60 billion as of December 31, 2022, Riverview Bancorp operates 17 branches and has been recognized as the Best Bank by readers of local publications for nine consecutive years. The company remains focused on community banking and delivering quality financial services.
Riverview Bancorp, Inc. (RVSB) reported third-quarter earnings of $5.2 million, or $0.24 per diluted share, unchanged from the prior quarter but down from $5.5 million a year ago, which included a $1.3 million recapture of loan loss provisions. Year-to-date fiscal 2023 net income reached $15.1 million, down from $17.7 million in the same period last year. Notably, Riverview's net interest income increased to $13.7 million, with a net interest margin of 3.48%. Operating expenses were controlled, although total deposits decreased by 8.3% to $1.37 billion. The bank maintained a strong capital ratio of 16.71% and paid a quarterly cash dividend of $0.06 per share.
Riverview Bancorp, Inc. (RVSB) announced a quarterly cash dividend of $0.06 per share, unchanged from the previous quarter. The dividend is payable on January 16, 2023, for shareholders of record by January 4, 2023, reflecting a 3.20% annualized yield based on the current share price. With assets totaling $1.68 billion as of September 30, 2022, Riverview specializes in community banking and boasts 17 branches in the Portland-Vancouver area.
Riverview Bancorp, Inc. has appointed Evan Sowers as the new president and CEO of Riverview Trust Company. With over 22 years of experience in finance and banking, Sowers aims to enhance services for high net worth clients while leveraging his expertise in financial planning and wealth management. The company, headquartered in Vancouver, Washington, reported $1.68 billion in assets as of September 30, 2022. Riverview Bank has consistently been recognized as a leading community bank, having won accolades for Best Bank for nine consecutive years.
Riverview Bancorp (RVSB) announced a stock repurchase program allowing the company to buy back up to $2.5 million of its shares from November 28, 2022, to May 28, 2023, depending on market conditions. This initiative aims to enhance shareholder value. The Board has authorized creating a Rule 10b5-1 plan with Keefe, Bruyette & Woods to facilitate these repurchases even during trading restrictions. As of September 30, 2022, Riverview had $1.68 billion in assets and operates 17 branches, focusing on high-quality community banking services.
Riverview Bancorp reported $5.2 million in net income, or $0.24 per diluted share, for the second fiscal quarter ending September 30, 2022. This marks an increase from $4.7 million in the prior quarter but a decrease from $6.4 million year-over-year. Year-to-date, net income stands at $9.8 million, down from $12.2 million last year. Net interest income rose to $13.4 million with an expanded net interest margin of 3.30%. Total deposits decreased by $6.3 million to $1.49 billion. Riverview maintains a robust capital position with a total risk-based capital ratio of 16.48%.
Riverview Bancorp, Inc. (NASDAQ: RVSB) has appointed Larry Hoff, a state representative from Southwest Washington, to its Board of Directors. Hoff's background in the financial services industry and community involvement is expected to enhance the board's expertise. He expressed his honor in joining a community-focused bank that has been operational for nearly a century. Riverview Bancorp, with assets of $1.70 billion as of June 30, 2022, serves clients through 17 branches and has earned recognition as the Best Bank for the past nine years.
Riverview Bancorp, Inc. (Nasdaq: RVSB) has declared a quarterly cash dividend of $0.06 per share, scheduled for payment on October 24, 2022, to shareholders on record by October 13, 2022. This dividend represents no change from the previous quarter, maintaining an annualized yield of 3.78%. The company, with assets totaling $1.70 billion as of June 30, 2022, operates with a strong community banking focus through its 17 branches in the Portland-Vancouver area.
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