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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 the adoption of a stock repurchase program allowing the company to buy back up to $5 million of its shares over the next six months. This program can be executed in open market transactions or privately negotiated deals. Additionally, the company will implement a trading plan with Keefe, Bruyette & Woods, Inc. under Rule 10b5-1 to facilitate these repurchases during blackout periods. The initiative is expected to enhance shareholder value by reducing the number of outstanding shares.
Riverview Bancorp, Inc. (NASDAQ GSM: RVSB) has appointed Denise Barr as Vice President, Marketing Strategist. With over 30 years in marketing, Barr's experience includes directing marketing at the Humane Society for SW Washington and consulting for clients like the City of Vancouver. The company, headquartered in Vancouver, Washington, boasts assets of $1.55 billion as of March 31, 2021, and operates 17 branches. Riverview has been recognized as Best Bank for seven consecutive years by local publications.
Riverview Bancorp (RVSB) reported Q4 earnings of $3.4 million ($0.15 per diluted share), down from $4.0 million ($0.18 per share) in the previous quarter, yet higher than $2.9 million ($0.13) year-over-year. For fiscal 2021, net income totaled $10.5 million ($0.47 per share), compared to $15.7 million ($0.69) in fiscal 2020. Total loans rose by $11.8 million to $943.2 million, supported by PPP loans of $93.4 million. Deposits increased by 8.8% to $1.35 billion. Asset quality remains strong, with non-performing assets at 0.04% of total assets. Riverview paid a $0.05 quarterly dividend on April 21, 2021.
Riverview Bancorp (RVSB) announced a quarterly cash dividend of $0.05 per share, unchanged from the previous quarter. This dividend will be paid on April 21, 2021, to shareholders of record on April 8, 2021, resulting in an annualized dividend yield of 2.86%. As of December 31, 2020, the company reported assets of $1.44 billion and continues to focus on community banking with 17 branches in the Portland-Vancouver area.
Riverview Bancorp reported earnings of $4.0 million or $0.18 per diluted share for Q3 FY21, compared to $2.5 million or $0.11 in the preceding quarter. Net income for the first nine months of FY21 was $7.1 million compared to $12.9 million in the same period last year. Total deposits increased by $37.0 million to $1.24 billion, with a 12% annualized deposit growth rate. The net interest margin improved to 3.40%, and Riverview paid a quarterly dividend of $0.05 per share while maintaining strong capital position with a 17.58% total risk-based capital ratio.
Riverview Bancorp (RVSB) announced a quarterly cash dividend of $0.05 per share on December 16, 2020, remaining unchanged from the previous quarter. The dividend will be paid on January 18, 2021, to shareholders on record by January 5, 2021. The annualized dividend yield is approximately 3.97% based on the current share price. Riverview Bancorp, headquartered in Vancouver, Washington, manages assets of $1.43 billion and operates 18 branches in the Portland-Vancouver area, providing a variety of banking services.
Riverview Bancorp, Inc. (NASDAQ: RVSB) announced the appointment of Stacey Graham to its Board of Directors. As the Chief Strategist at What’s Next? Strategies, Graham brings extensive experience in business management and banking. This addition aims to enhance the company's marketing and strategic planning efforts, crucial for expanding community awareness of their services. Riverview Bancorp, based in Vancouver, Washington, has assets of $1.43 billion and operates 18 branches, emphasizing quality community banking services.
Riverview Bancorp reported a net income of $2.5 million or $0.11 per diluted share for Q2 FY2021. This marks an increase from $480,000 in the prior quarter but a decline from $4.5 million year-over-year. For the first half of FY2021, net income was $3.0 million, down from $8.7 million in the same period of FY2020. The bank's net interest margin was 3.33%, and total loans decreased to $975.2 million. Despite challenges from the pandemic, Riverview noted strong deposit growth and maintained a solid capital position with a risk-based capital ratio of 17.53%.
Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) announced on September 23, 2020, a quarterly cash dividend of $0.05 per share, unchanged from the prior quarter. The dividend is payable on October 20, 2020, to shareholders of record as of October 8, 2020. With a current share price, the annualized dividend yield stands at 4.99%. As of June 30, 2020, Riverview has assets totaling $1.38 billion and operates 18 branches in the Portland-Vancouver area, focusing on community banking.
Riverview Bancorp, Inc. (NASDAQ: RVSB) announced new leadership at its Annual Reorganizational Meeting, electing Gerald L. Nies as Chairman, succeeding Patrick Sheaffer, who has been with the company since 1963. The Board comprises newly elected members, including Bradley Carlson and Patricia Eby. Under Sheaffer's leadership, Riverview grew to a $1.3 billion asset bank and contributed over $5 million to local organizations. Nies aims to continue this legacy as the company focuses on community banking and enhancing customer service.
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