Riverview Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024
April 25, 2024 at 04:25 pm EDT
Share
Riverview Bancorp, Inc. reported earnings results for the fourth quarter and full year ended March 31, 2024. For the fourth quarter, the company reported net interest income was USD 8.55 million compared to USD 11.81 million a year ago. Net loss was USD 2.97 million compared to net income of USD 2.98 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.14 a year ago.
For the full year, net interest income was USD 38.09 million compared to USD 51.61 million a year ago. Net income was USD 3.8 million compared to USD 18.07 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.84 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to USD 0.83 a year ago.
Riverview Bancorp, Inc. is the bank holding company of Riverview Bank (the Bank). The Bank has two subsidiaries: Riverview Trust Company (the Trust Company) and Riverview Services, Inc. (Riverview Services). The Trust Company is a trust and financial services company located in downtown Vancouver, Washington, and provides full-service brokerage activities, trust and asset management services. Riverview Services acts as a trustee for deeds of trust on mortgage loans granted by the Bank. The Company operates through two segments, which consist of banking operations performed by the Bank and trust and investment services performed by the Trust Company. The Company is engaged predominantly in the business of attracting deposits from the public and using such funds in its primary market area to originate commercial business, commercial real estate, multifamily real estate, land, real estate construction, residential real estate and other consumer loans.