Globenewswireยท2025-10-28 20:00Core Insights - Riverview Bancorp reported a net income of $1.1 million, or $0.05 per diluted share, for the second fiscal quarter of 2026, a decrease from $1.2 million in the previous quarter and $1.6 million in the same quarter last year [2][3][4] Financial Performance - Net interest income for the quarter was $9.8 million, up from $8.9 million in the same quarter last year, with a net interest margin of 2.76%, an increase from 2.46% year-over-year [2][8][9] - Non-interest income remained stable at $3.8 million, similar to the previous year, while non-interest expenses increased to $12.2 million from $10.7 million a year ago [2][15][13] - The efficiency ratio was reported at 89.8%, indicating a rise from 83.7% in the same quarter last year [15] Credit Quality - Non-performing loans were $776,000, or 0.07% of total loans, reflecting an increase from $143,000, or 0.01%, in the previous quarter [25][26] - The allowance for credit losses was $15.4 million, representing 1.44% of total loans [28] Balance Sheet Highlights - Total loans increased by $2.1 million to $1.07 billion, with new loan originations totaling $56.4 million, nearly double the previous quarter [17][18] - Total deposits rose by $26.5 million to $1.24 billion, driven by higher customer demand for CDs and interest checking accounts [22] Capital and Liquidity - Shareholders' equity increased to $163.5 million, with a tangible book value per share of $6.51 [24][35] - The company maintains strong capital levels with a total risk-based capital ratio of 16.51% and a Tier 1 leverage ratio of 11.26% [29][30] Strategic Focus - The company is executing a three-year strategic plan aimed at sustainable growth, digital innovation, and operational efficiency [5][6] - The loan pipeline reached $78.5 million, indicating strong demand for loans across various markets [17]