Riverview Bancorp(RVSB) - 2026 Q3 - Quarterly Results

Financial Performance - Riverview Bancorp reported net income of $1.4 million, or $0.07 per diluted share, for the third fiscal quarter of 2026, an increase from $1.1 million, or $0.05 per diluted share, in the previous quarter[3]. - Net income for the three months ended December 31, 2025, was $1,377 million, compared to $1,099 million for the previous quarter, representing a 25.3% increase[41]. - Basic earnings per share rose to $0.07 for the three months ended December 31, 2025, compared to $0.05 for the previous quarter[45]. Income and Expenses - Net interest income for the quarter was $10.5 million, up from $9.4 million in the same quarter last year, with a net interest margin of 2.96%, compared to 2.60% in the third quarter of fiscal 2025[3][11]. - Non-interest income was $3.5 million for the quarter, slightly up from $3.3 million in the same quarter last year[14]. - Non-interest expense remained flat at $12.2 million compared to the previous quarter but increased from $11.2 million a year ago[16]. Asset and Loan Growth - Total loans increased by $15.1 million to $1.07 billion compared to the previous quarter, with new loan originations totaling $36.7 million[18]. - Total commercial and construction loans reached $956,594 as of December 31, 2025, compared to $949,251 in the previous quarter[43]. - Average loans for the three months ended December 31, 2025, were $1,080,560, an increase from $1,060,643 in the previous quarter[42]. Credit Quality - Non-performing assets were $1.1 million, or 0.07% of total assets, reflecting stable credit quality metrics[25]. - Non-performing loans were $1.129 million at December 31, 2025, representing 0.10% of total loans[36]. - The allowance for credit losses was $15.3 million at December 31, 2025, representing 1.41% of total loans, down from 1.44% at September 30, 2025, and 1.47% a year earlier[28]. Capital and Liquidity - Shareholders' equity increased to $164.2 million, with tangible book value per share rising to $6.62[24]. - Riverview maintained a total risk-based capital ratio of 16.35% and a Tier 1 leverage ratio of 11.24% at December 31, 2025, indicating strong capital levels[29]. - Available liquidity was approximately $515.5 million at December 31, 2025, including $227.2 million from FHLB and $288.3 million from the Federal Reserve Bank[30]. Operational Efficiency - The efficiency ratio improved to 86.9% from 89.8% in the previous quarter, indicating better operational efficiency[16]. - Return on average assets increased to 0.36% for the nine months ended December 31, 2025, up from 0.29% for the three months ended September 30, 2025[45]. Market and Shareholder Information - Market price per share closed at $5.02 at the end of the period, down from $5.37 at the end of the previous quarter[45]. - Cash dividends declared per share remained steady at $0.0200 for the three months ended December 31, 2025, consistent with the previous quarter[45].