Contact:

Nicole Sherman David Lam Riverview Bancorp, Inc. 360-693-6650

       

Riverview Bancorp Reports Net Income of $1.2 Million in First Fiscal Quarter 2026

FISCAL Q1 2026 HIGHLIGHTS

 

---

 

---

 

Vancouver, Washington – July 29, 2025 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported earnings of $1.2 million, or $0.06 per diluted share, in the first fiscal quarter ended June 30, 2025, compared to $1.1 million, or $0.05 per diluted share, in the fourth fiscal quarter ended March 31, 2025, and $966,000, or $0.05 per diluted share, in the first fiscal quarter ended June 30, 2024.

“Riverview’s inclusion in the Russell 2000® Index marks a significant achievement and underscores the meaningful progress we’ve made in strengthening our franchise and delivering long-term value to shareholders. This progress is also reflected in our financial results for the first fiscal quarter highlighted by net interest margin expansion driven by higher loan yields,” stated Nicole Sherman, President and Chief Executive Officer. “We remain focused on enhancing Riverview’s operational performance while continuing to be the financial partner of choice for our clients across Southwest Washington and Northwest Oregon—communities we’ve proudly served for more than a century. Our loan pipeline

RVSB First Fiscal Quarter 2026 Results

Page 2

remains strong, and we anticipate continued loan demand in the growing markets that we serve. We continue to enhance our commercial and business banking teams which has also led to our increased loan pipeline.”

“During the first quarter we began implementation of our three-year strategic plan, which focuses on delivering sustainable growth, expanding our digital capabilities, and harnessing data to drive strategic business decisions,” Sherman continued. “A key priority throughout has been fostering a culture where employees, clients, and communities are genuinely valued. Looking ahead, we continue pursuing growth opportunities across our commercial & industrial, business banking, and treasury management platforms. While we make targeted investments in both talent and technology to support our initiatives, we remain focused on improving operating efficiency as well.”

On June 30, 2025, the Company was added to the Russell 3000 Index® and Russell 2000® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes. “We believe this recognition enhances our visibility within the institutional investment community and emphasizes our commitment to be the preferred place to bank and work in the communities we serve,” concluded Sherman.

Riverview’s net interest income increased to $9.8 million in the current quarter, compared to $9.2 million in the preceding quarter, and $8.8 million in the first fiscal quarter a year ago. The increase compared to the preceding quarter was primarily due to higher interest earning asset yields as well as the recognition of $248,000 in Visa B income during the current quarter. There was no Visa B income in the preceding quarter and $193,000 in the first fiscal quarter a year ago. The increase compared to the year ago quarter was driven by higher interest earning asset yields due to higher origination rates on new loan growth as well as loan repricing.

Riverview’s NIM was 2.78% for the first quarter of fiscal 2026, a 13 basis point increase compared to 2.65% in the preceding quarter and a 31 basis-point increase compared to 2.47% in the first quarter of fiscal 2025. “Our NIM improved quarter-over-quarter, reflecting higher asset yields outpacing the slight increase in our interest bearing liabilities,” said David Lam, EVP and Chief Financial Officer.

Investment securities decreased $6.3 million during the quarter to $316.3 million at June 30, 2025, compared to $322.5 million at March 31, 2025, and decreased $46.9 million compared to $363.2 million at June 30, 2024. The average securities balances for the quarters ended June 30, 2025, March 31, 2025, and June 30, 2024, were $337.2 million, $346.0 million, and $391.3 million, respectively. The weighted average yields on securities balances for those same periods were 2.09%, 1.84%, and 2.11%, respectively. The duration of the investment portfolio at June 30, 2025, was approximately 5.1 years. The anticipated investment cashflows over the next twelve months is approximately $34.7 million. There were no investment purchases during the first fiscal quarter of 2026.

Riverview’s yield on loans was 5.02% during the first fiscal quarter, compared to 4.91% in the preceding quarter, and 4.70% in the first fiscal quarter a year ago. “Loan yields have improved year-over-year, driven by the current yield curve, which has led to more favorable pricing on new loan originations relative to our existing portfolio. To further strengthen loan yields, we are actively broadening our commercial lending strategy to include a greater mix of variable-rate loan products,” said Mike Sventek, EVP and Chief Lending Officer. Deposit costs decreased to 1.72% during the first fiscal quarter compared to 1.76% in the preceding quarter, however, they have increased from 1.61% compared to the first fiscal quarter a year ago, as clients continue to seek higher deposit yielding accounts.

Non-interest income was $3.4 million during the first fiscal quarter of 2026 compared to $3.7 million in the preceding quarter and $3.4 million in the first fiscal quarter of 2025. Non-interest income during the preceding quarter included a $261,000 BOLI death benefit as well as a $244,000 insurance cost reimbursement.

“We are proud of the operating contributions Riverview Trust Company contributes to the Company,” said Lam. Asset management fees were $1.6 million during the first fiscal quarter, compared to $1.5 million in the preceding quarter and $1.6 million in the first fiscal quarter a year ago. Riverview Trust Company’s assets under management were $900.1 million at June 30, 2025, compared to $877.9 million at March 31, 2025, and $897.9 million at June 30, 2024.

Non-interest expense was $11.7 million during the first fiscal quarter, compared to $11.4 million in the preceding quarter and $11.0 million in the first fiscal quarter a year ago. “Non-interest expense increased compared to the prior quarter, primarily due to higher salaries and benefits as we continue to invest in strategic growth initiatives, including the buildout of our Business Banking team and other key hires aligned with our business plan. Professional fees decreased as a result in the reduction in consulting expenses as we transitioned away from the utilization of external consultants to permanent in-house positions,” said Lam. The efficiency ratio was 88.3% for the first fiscal quarter, compared to 88.7% for the preceding quarter and 90.0% in the first fiscal quarter a year ago.

Riverview’s effective tax rate for the first fiscal quarter of 2026 was 20.8%, compared to 21.5% for the preceding quarter and 20.8% for the year ago quarter.

Total loans increased $5.6 million during the quarter to $1.07 billion at June 30, 2025, compared to $1.06 billion three months earlier and increased $23.0 million compared to $1.05 billion a year earlier. Riverview’s loan pipeline was $72.0 million at June 30, 2025, compared to $41.1 million at the end of the preceding quarter and $32.3 million at June 30, 2024. New loan originations during the quarter totaled $28.3 million, compared to $49.4 million in the preceding quarter and $23.2 million in the first fiscal quarter a year ago.

Undisbursed construction loans totaled $13.3 million at June 30, 2025, compared to $18.2 million at March 31, 2025, with the majority of the undisbursed construction loans expected to be funded over the next several quarters. Undisbursed homeowner association loans for the purpose of common area maintenance and repairs totaled $14.4 million at June 30, 2025, compared to $18.3 million at March 31, 2025. Revolving commercial business loan commitments totaled $47.2 million at June 30, 2025, compared to $48.9 million at March 31, 2025. Utilization on these loans totaled 31.78% at June 30, 2025, compared to 28.90% at March 31, 2025. The weighted average rate on loan originations during the quarter was 7.51% compared to 7.16% in the preceding quarter. Loan repricing and maturities for fiscal year 2026 totaled $55.1 million with a weighted average rate of 4.27%. Looking ahead, loan repricing and maturities for fiscal year 2027 total $76.2 million with a weighted average rate of 4.03%, for fiscal year 2028 total $95.7 million with a weighted average rate of 5.42% and in aggregate for fiscal years after 2028 total $124.0 million with a weighted average rate of 6.09%.

The office building loan portfolio totaled $108.6 million at June 30, 2025, compared to $110.9 million at March 31, 2025. The average loan balance of the office building loan portfolio was $1.6 million with an average loan-to-value ratio of 52.77% and an average debt service coverage ratio of 1.73x at June 30, 2025. Office building loans within the Portland core consist of two loans totaling $20.4 million, which is approximately 18.8% of the total office building loan portfolio, or 1.90% of total loans.

Total deposits decreased $22.4 million during the quarter to $1.21 billion at June 30, 2025, compared to $1.23 billion at March 31, 2025, and decreased $9.8 million compared to a year ago. The decrease in deposits during the current quarter was in part due to seasonality in the portfolio and the impact of tax payments. Non-interest checking and interest checking accounts, as a percentage of total deposits, totaled 48.3% at June 30, 2025, compared to 48.7% at March 31, 2025, and 50.9% at June 30, 2024. Similar to the prior quarter, Riverview Bank reciprocated $20 million of balances from Riverview Trust during the current quarter. Riverview Bank had moved customer deposits to Riverview Trust as a higher yielding deposit alternative and those assets were all retained within the Company during the period of increasing interest rates. CD balances increased during the quarter, driven by continued customer demand in response to higher available yields.

FHLB advances increased $26.1 million during the quarter to $102.5 million at June 30, 2025, compared to $76.4 million at March 31, 2025 as a result of the decrease in deposits.

Shareholders’ equity increased to $162.0 million at June 30, 2025, compared to $160.0 million three months earlier and $155.9 million one year earlier. Tangible book value per share (non-GAAP) increased to $6.43 at June 30, 2025, compared to $6.33 at March 31, 2025, and $6.09 at June 30, 2024. Riverview paid a quarterly cash dividend of $0.02 per share on July 22, 2025, to shareholders of record on July 10, 2025.

“Asset quality remains a priority during uncertain economic conditions, and we continue to closely monitor our portfolio mix, loan growth, and local and national conditions to maintain an appropriate allowance,” said Robert Benke, EVP and Chief Credit Officer. Non-performing loans, excluding SBA and USDA government guaranteed loans (“government guaranteed loans”) (non-GAAP) totaled $143,000 or 0.01% of total loans as of June 30, 2025, compared to $155,000, or 0.01% of total loans at March 31, 2025, and $160,000, or 0.04% of total loans at June 30, 2024. There were no non-performing government guaranteed loans at June 30, 2025, or at March 31, 2025. At June 30, 2025, non-performing assets were $143,000, or 0.01% of total assets.

Riverview recorded $52,000 in net loan recoveries for the current quarter. This compared to $22,000 in net loan recoveries for the preceding quarter. Riverview recorded no provision for credit losses for the current quarter, or for the preceding quarter.

Classified assets were $10.8 million at June 30, 2025, compared to $2.9 million at March 31, 2025, and $228,000 at June 30, 2024. The classified assets to total capital ratio was 5.9% at June 30, 2025, compared to 1.6% at March 31, 2025, and 0.1% a year earlier. The increase in classified assets during the quarter was primarily due to one lending relationship for which a plan is in place to either return to performing status or payoff. Criticized assets were $45.7 million at June 30, 2025, compared to $48.5 million at March 31, 2025, and $37.7 million at June 30, 2024. Criticized assets decreased during the current quarter compared to the prior quarter as a result of net movement of some loans into classified assets. The increase compared to a year ago was primarily due to one relationship that was moved to the criticized asset category as the loans go through probate. The Company does not anticipate any loss from this relationship.

The allowance for credit losses was $15.4 million at June 30, 2025, March 31, 2025, and June 30, 2024. The allowance for credit losses represented 1.44% of total loans at June 30, 2025, compared to 1.45% at March 31, 2025, and 1.47% a year earlier. The allowance for credit losses to loans, net of government guaranteed loans (non-GAAP), was 1.51% at June 30, 2025, compared to 1.51% at March 31, 2025, and 1.54% a year earlier.

Riverview continues to maintain strong capital levels in excess of the regulatory requirements to be categorized as “well capitalized” with a total risk-based capital ratio of 16.56% and a Tier 1 leverage ratio of 11.16% at June 30, 2025. Tangible common equity to average tangible assets ratio (non-GAAP) was 9.05% at June 30, 2025.

Riverview has approximately $449.2 million in available liquidity at June 30, 2025, including $155.9 million of borrowing capacity from the FHLB and $293.3 million from the Federal Reserve Bank of San Francisco (“FRB”). At June 30, 2025, the Bank had $102.5 million in outstanding FHLB borrowings.

The uninsured deposit ratio was 23.2% at June 30, 2025. Available liquidity under the FRB borrowing line would cover 100% of the estimated uninsured deposits and available liquidity under both the FHLB and FRB borrowing lines would cover 160.2% of the estimated uninsured deposits.

On September 25, 2024, the Company’s Board of Directors adopted a stock repurchase program. Under this repurchase program, the Company may repurchase up to $2.0 million of the Company’s outstanding shares of common stock, in the open market, based on prevailing market prices, or in privately negotiated transactions. As of February 2, 2025, the Company had completed the full $2.0 million stock repurchase plan, repurchasing 358,631 shares at an average price of $5.58 per share.

On April 24, 2025, the Company’s Board of Directors adopted a stock repurchase program. Under this repurchase program, the Company may repurchase up to $2.0 million of the Company’s outstanding shares of common stock, in the open market, based on prevailing market prices, or in privately negotiated transactions. As of June 30, 2025, there have been no repurchases under this stock repurchase plan.

In addition to results presented in accordance with generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures. Management has presented these non-GAAP financial measures in this earnings release because it believes that they provide useful and comparative information to assess trends in Riverview's core operations reflected in the current quarter's results and facilitate the comparison of our performance with the performance of our peers. However, these non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP. Where applicable, comparable earnings information using GAAP financial measures is also presented. Because not all companies use the same calculations, our presentation may not be comparable to other similarly titled measures as calculated by other companies. For a reconciliation of these non-GAAP financial measures, see the tables below.

Tangible shareholders' equity to tangible assets and tangible book value per share:
(Dollars in thousands)		June 30, 2025				March 31, 2025				June 30, 2024
Shareholders' equity (GAAP)		$	162,001			$	160,014			$	155,908
Exclude: Goodwill			(27,076	)			(27,076	)			(27,076	)
Exclude: Core deposit intangible, net			(147	)			(171	)			(246	)
Tangible shareholders' equity (non-GAAP)		$	134,778			$	132,767			$	128,586
Total assets (GAAP)		$	1,516,643			$	1,513,323			$	1,538,260
Exclude: Goodwill			(27,076	)			(27,076	)			(27,076	)
Exclude: Core deposit intangible, net			(147	)			(171	)			(246	)
Tangible assets (non-GAAP)		$	1,489,420			$	1,486,076			$	1,510,938
Shareholders' equity to total assets (GAAP)			10.68	%			10.57	%			10.14	%
Tangible common equity to tangible assets (non-GAAP)			9.05	%			8.93	%			8.51	%
Shares outstanding			20,976,200				20,976,200				21,111,043
Book value per share (GAAP)		$	7.72			$	7.63			$	7.39
Tangible book value per share (non-GAAP)		$	6.43			$	6.33			$	6.09

Non-performing loans reconciliation, excluding Government Guaranteed Loans
		Three Months Ended
(Dollars in thousands)		June 30, 2025				March 31, 2025				June 30, 2024
Non-performing loans (GAAP)		$	143			$	155			$	461
Less: Non-performing Government Guaranteed loans			-				-				(301	)
Adjusted non-performing loans excluding Government Guaranteed loans (non-GAAP)		$	143			$	155			$	160
Non-performing loans to total loans (GAAP)			0.01	%			0.01	%			0.04	%
Non-performing loans, excluding Government Guaranteed loans to total loans (non-GAAP)			0.01	%			0.01	%			0.02	%
Non-performing loans to total assets (GAAP)			0.01	%			0.01	%			0.03	%
Non-performing loans, excluding Government Guaranteed loans to total assets (non-GAAP)			0.01	%			0.01	%			0.01	%

About Riverview

Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington – just north of Portland, Oregon, on the I-5 corridor. With assets of $1.52 billion at June 30, 2025, it is the parent company of Riverview Bank, as well as Riverview Trust Company. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial, business and retail clients through 17 branches, including 13 in the Metro Portland-Vancouver area, and 3 lending centers. For the past 11 years, Riverview has been named Best Bank by the readers of The Vancouver Business Journal and The Columbian.

“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements which include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions, future economic performance and projections of financial items. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by our forward-looking statements, including, but not limited to: potential adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company's business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession, the failure of the U.S. Congress to increase the debt ceiling, or slowed economic growth caused by increasing political instability from acts of war including Russia’s invasion of Ukraine, as well as supply chain disruptions, recent bank failures and any governmental or societal responses thereto; the credit risks of lending activities, including changes in the level and trend of loan delinquencies and write-offs and changes in the Company’s allowance for credit losses and provision for credit losses that may be impacted by deterioration in the housing and commercial real estate markets; changes in the levels of general interest rates, and the relative differences between short and long-term interest rates, deposit interest rates, the Company’s net interest margin and funding sources; the transition away from London Interbank Offered Rate toward new interest rate benchmarks; fluctuations in the demand for loans, the number of unsold homes, land and other properties and fluctuations in real estate values in the Company’s market areas; secondary market conditions for loans and the Company’s ability to originate loans for sale and sell loans in the secondary market; results of examinations of the Bank by the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions, Division of Banks, and of the Company by the Board of Governors of the Federal Reserve System, or other regulatory authorities, including the possibility that any such regulatory authority may, among other things, require the Company to increase its allowance for credit losses, write-down assets, reclassify its assets, change the Bank’s regulatory capital position or affect the Company’s ability to borrow funds or maintain or increase deposits, which could adversely affect its liquidity and earnings; legislative or regulatory changes that adversely affect the Company’s business including changes in banking, securities and tax law, and in regulatory policies and principles, or the interpretation of regulatory capital or other rules; the Company’s ability to attract and retain deposits; the unexpected outflow of uninsured deposits that may require us to sell investment securities at a loss; the Company’s ability to control operating costs and expenses; the use of estimates in determining fair value of certain of the Company’s assets, which estimates may prove to be incorrect and result in significant declines in valuation; difficulties in reducing risks associated with the loans on the Company’s consolidated balance sheet; staffing fluctuations in response to product demand or the implementation of corporate strategies that affect the Company’s workforce and potential associated charges; disruptions, security breaches or other adverse events, failures or interruptions in or attacks on our information technology systems or on the third-party vendors who perform several of our critical processing functions; the Company’s ability to retain key members of its senior management team; costs and effects of litigation, including settlements and judgments; the Company’s ability to implement its business strategies; the Company's ability to successfully integrate any assets, liabilities, customers, systems, and management personnel it may acquire into its operations and the Company's ability to realize related revenue synergies and cost savings within expected time frames; future goodwill impairment due to changes in Riverview’s business, changes in market conditions, or other factors; increased competitive pressures among financial services companies; changes in consumer spending, borrowing and savings habits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; the Company’s ability to pay dividends on its common stock; the quality and composition of our securities portfolio and the impact of and adverse changes in the securities markets, including market liquidity; inability of key third-party providers to perform their obligations to us; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board, including additional guidance and interpretation on accounting issues and details of the implementation of new accounting standards; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; and other economic, competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products and services, and the other risks described from time to time in our reports filed with and furnished to the U.S. Securities and Exchange Commission.

The Company cautions readers not to place undue reliance on any forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company. The Company does not undertake and specifically disclaims any obligation to revise any forward-looking statements included in this report or the reasons why actual results could differ from those contained in such statements, whether as a result of new information or to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for fiscal 2026 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s consolidated financial condition and consolidated results of operations as well as its stock price performance.

RIVERVIEW BANCORP, INC. AND SUBSIDIARY
Consolidated Balance Sheets
(In thousands, except share and per share data)  (Unaudited)		June 30, 2025				March 31, 2025				June 30, 2024
ASSETS
Cash and cash equivalents (including interest-earning accounts of		$	34,172			$	29,414			$	27,804
$15,192, $14,375 and $13,526)
Investment securities:
Available for sale, at estimated fair value			118,777				119,436				137,371
Held to maturity, at amortized cost			197,478				203,079				225,817
Loans receivable (net of allowance for credit losses of $15,426,
$15,374 and $15,364)			1,052,654				1,047,086				1,029,701
Prepaid expenses and other assets			12,455				12,523				14,170
Accrued interest receivable			4,493				4,525				4,798
Federal Home Loan Bank ("FHLB") stock, at cost			5,516				4,342				6,061
Premises and equipment, net			21,867				22,304				21,290
Financing lease right-of-use asset			1,106				1,125				1,182
Deferred income taxes, net			8,286				8,625				9,857
Goodwill			27,076				27,076				27,076
Core deposit intangible ("CDI"), net			147				171				246
Bank owned life insurance ("BOLI")			32,616				33,617				32,887
TOTAL ASSETS		$	1,516,643			$	1,513,323			$	1,538,260
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
Deposits		$	1,209,893			$	1,232,328			$	1,219,679
Accrued expenses and other liabilities			12,498				14,777				19,441
Advance payments by borrowers for taxes and insurance			558				614				551
FHLB advances			102,500				76,400				113,504
Junior subordinated debentures			27,113				27,091				27,026
Finance lease liability			2,080				2,099				2,151
Total liabilities			1,354,642				1,353,309				1,382,352
SHAREHOLDERS' EQUITY:
Serial preferred stock, $.01 par value; 250,000 authorized,
issued and outstanding, none			-				-				-
Common stock, $.01 par value; 50,000,000 authorized,
June 30, 2025 – 20,976,200 issued and outstanding;
March 31, 2025 – 20,976,200 issued and outstanding;			208				208				211
June 30, 2024 – 21,111,043 issued and outstanding;
Additional paid-in capital			53,501				53,392				55,031
Retained earnings			120,522				119,717				117,043
Accumulated other comprehensive loss			(12,230	)			(13,303	)			(16,377	)
Total shareholders’ equity			162,001				160,014				155,908
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$	1,516,643			$	1,513,323			$	1,538,260

DEPOSIT MIX		June 30, 2025				March 31, 2025				June 30, 2024
Interest checking		$	277,632			$	285,035			$	281,477
Regular savings			159,747				168,287				179,634
Money market deposit accounts			233,553				236,044				214,874
Non-interest checking			306,768				315,503				339,271
Certificates of deposit			232,193				227,459				204,423
Total deposits		$	1,209,893			$	1,232,328			$	1,219,679

LOAN MIX		June 30, 2025				March 31, 2025				June 30, 2024
Commercial and construction		(Dollars in thousands)
Commercial business		$	231,826			$	232,935			$	238,493
Other real estate mortgage			693,882				688,246				663,715
Real estate construction			20,133				29,182				39,958
Total commercial and construction			945,841				950,363				942,166
Consumer
Real estate one-to-four family			98,147				97,683				96,083
Other installment			24,092				14,414				6,816
Total consumer			122,239				112,097				102,899
Total loans			1,068,080				1,062,460				1,045,065
Less:
Allowance for credit losses			15,426				15,374				15,364
Loans receivable, net		$	1,052,654			$	1,047,086			$	1,029,701

DETAIL OF NON-PERFORMING ASSETS
		Southwest
		Washington				Total
June 30, 2025		(Dollars in thousands)
Commercial business		$	32			$	32
Commercial real estate			82				82
Consumer			29				29
Total non-performing assets		$	143			$	143

(1)	Amounts for the periods shown are annualized.

(2)	Amounts exclude ESOP shares not committed to be released.

(3)	Amounts exclude ESOP shares not committed to be released and include common stock equivalents.

(4)	Non-interest expense divided by net interest income and non-interest income.

(5)	Amounts calculated based on shareholders’ equity and include ESOP shares not committed to be released.

(6)	Net interest income divided by non-interest expense.

(7)	Yield on interest-earning assets less cost of funds on interest-bearing liabilities.

---