Fiscal First Quarter Lifts Riverview Net Income to $1.7 Million
Key Facts
Riverview Bancorp reported net income of $1.7 million, or $0.08 per diluted share, in the first quarter of fiscal 2027 ended June 30, 2026, according to a filing with the U.S. Securities and Exchange Commission. That was up from net income of $1.2 million, or $0.06 per share, in the same quarter of fiscal 2026. The figures place the June result in the context of an annual improvement in profitability, but do not establish that the improvement continued in the following quarter. An earlier draft attributed a result of $2.0 million to the fiscal second quarter ended in September, but the official page for that announcement was unavailable to verify the figure. The figures for nonperforming loans attributed to September 30 also could not be officially verified, so the draft's figures are not a sound basis for describing asset quality in the second quarter.
The improvement in the first quarter extended to interest income and margin. Net interest income was $11.4 million, compared with $9.8 million in the first quarter of the previous fiscal year, according to the same filing. Net interest margin rose to 3.34% from 2.78% year over year. The margin measures net returns from lending and investment activities after funding costs, while net interest income reflects the dollar value of those activities during the period. The comparison points to improvement in both interest income and margin in the June quarter, without assessing their performance in the quarter ended in September.
Riverview had reshaped its securities portfolio in March. The company said in its filing that it reclassified its entire held-to-maturity securities portfolio as available for sale, then sold lower-yielding securities with a book value of $149.3 million on March 25, 2026. The company described the move as part of a strategic balance sheet optimization. The announcement of the move preceded the first quarter, when net interest income and margin rose year over year. But the available filing does not break out how much the sale or reclassification contributed to the quarter's result, and does not allow either to be linked on its own to the change in earnings.
Chief Executive Nicole Sherman linked first-quarter performance to progress on the company's strategic plan, saying results were "supported by strategic balance sheet optimization, disciplined growth, thoughtful investment in technology and talent, and strong risk oversight." The remarks appeared in the first-quarter filing, which also reported income and net interest margin figures. In a capital-management move, Riverview announced a $4.0 million share repurchase program on August 26, according to its investor news page. It also announced its 47th consecutive quarterly cash dividend on September 28. These decisions show aspects of the company's approach to capital and dividends, but do not by themselves provide evidence of second-quarter results.
The previous fiscal year's results provide important context for the company's return to quarterly profitability. Riverview ended the fiscal year ended March 31, 2026, with a net loss of $4.341 million, compared with net income of $4.903 million in fiscal 2025, according to its annual filing with the SEC. The annual comparison shows a sharp divergence between the two years, while the June quarter posted a profit higher than a year earlier. The parent company, Riverview Bancorp, is headquartered in Vancouver, Washington, and is the parent of Riverview Bank and Riverview Trust Company, according to its investor relations website. The bank operates 17 branches in Oregon and Washington and three loan production offices, defining the scope of its stated banking presence.