RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) |
|
| Schedule of condensed balance sheet |
BALANCE SHEETS AS OF MARCH 31, 2026 AND 2025 | | | | | | | (In thousands) | | 2026 | | 2025 | ASSETS | | | | | | | Cash and cash equivalents | | $ | 3,698 | | $ | 5,726 | Investment in the Bank | | | 166,417 | | | 178,808 | Other assets | | | 3,442 | | | 3,108 | TOTAL ASSETS | | $ | 173,557 | | $ | 187,642 | LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | Accrued expenses and other liabilities | | $ | 330 | | $ | 118 | Dividend payable | | | 412 | | | 419 | Borrowings | | | 27,179 | | | 27,091 | Shareholders' equity | | | 145,636 | | | 160,014 | TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | | $ | 173,557 | | $ | 187,642 |
|
| Schedule of condensed income statement |
STATEMENTS OF INCOME (LOSS) FOR THE YEARS ENDED MARCH 31, 2026, 2025 AND 2024 | | | | | | | | | | (In thousands) | | 2026 | | 2025 | | 2024 | | | | | | | | | | | INCOME: | | | | | | | | | | Interest on investment securities and other short-term investments | | $ | 182 | | $ | 129 | | $ | 262 | Total income | | | 182 | | | 129 | | | 262 | | | | | | | | | | | EXPENSE: | | | | | | | | | | Management service fees paid to the Bank | | | 143 | | | 143 | | | 143 | Other expenses | | | 1,859 | | | 2,095 | | | 2,180 | Total expense | | | 2,002 | | | 2,238 | | | 2,323 | LOSS BEFORE INCOME TAXES AND EQUITY | | | | | | | | | | IN UNDISTRIBUTED INCOME OF THE BANK | | | (1,820) | | | (2,109) | | | (2,062) | BENEFIT FOR INCOME TAXES | | | (382) | | | (443) | | | (433) | LOSS OF PARENT COMPANY | | | (1,438) | | | (1,666) | | | (1,629) | EQUITY IN UNDISTRIBUTED (LOSS) INCOME OF THE BANK | | | (2,903) | | | 6,569 | | | 5,428 | NET (LOSS) INCOME | | $ | (4,341) | | $ | 4,903 | | $ | 3,799 |
|
| Schedule of condensed cash flow statement |
STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2026, 2025 AND 2024 | | | | | | | | | | (In thousands) | | 2026 | | 2025 | | 2024 | | | | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | Net (loss) income | | $ | (4,341) | | $ | 4,903 | | $ | 3,799 | Adjustments to reconcile net (loss) income to net cash used in operating activities: | | | | | | | | | | Equity in undistributed loss (income) of the Bank | | | 2,903 | | | (6,569) | | | (5,428) | Amortization expense | | | 88 | | | 87 | | | 86 | Provision for deferred income taxes | | | 1 | | | — | | | 2 | Stock-based compensation expense | | | 431 | | | 384 | | | 34 | Changes in assets and liabilities: | | | | | | | | | | Other assets | | | (336) | | | (4) | | | (764) | Accrued expenses and other liabilities | | | 212 | | | — | | | (105) | Net cash used in operating activities | | | (1,042) | | | (1,199) | | | (2,376) | | | | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | Dividend from the Bank | | | 3,400 | | | 1,975 | | | 12,000 | Net cash provided by investing activities | | | 3,400 | | | 1,975 | | | 12,000 | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | Dividends paid | | | (1,670) | | | (2,533) | | | (5,080) | Proceeds from exercise of stock options | | | — | | | — | | | 36 | Repurchase of common stock | | | (2,716) | | | (2,000) | | | (577) | Net cash used in financing activities | | | (4,386) | | | (4,533) | | | (5,621) | NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | | | (2,028) | | | (3,757) | | | 4,003 | | | | | | | | | | | CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | | | 5,726 | | | 9,483 | | | 5,480 | | | | | | | | | | | CASH AND CASH EQUIVALENTS, END OF YEAR | | $ | 3,698 | | $ | 5,726 | | $ | 9,483 |
|
| Schedule of quarterly financial information |
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED): | | | | | | | | | | | | | (Dollars in thousands, except per share data) | | Three Months Ended | Fiscal 2026: | | March 31 | | December 31 | | September 30 | | June 30 | | | | | | | | | | | | | | Interest and dividend income | | $ | 15,293 | | $ | 15,968 | | $ | 15,372 | | $ | 15,375 | Interest expense | | | 5,112 | | | 5,423 | | | 5,591 | | | 5,534 | Net interest income | | | 10,181 | | | 10,545 | | | 9,781 | | | 9,841 | Provision for credit losses | | | 1,155 | | | 100 | | | — | | | — | Non-interest income (loss), net | | | (8,034) | | | 3,504 | | | 3,840 | | | 3,426 | Non-interest expense | | | 11,508 | | | 12,209 | | | 12,226 | | | 11,720 | Income (loss) before income taxes | | | (10,516) | | | 1,740 | | | 1,395 | | | 1,547 | Provision (benefit) for income taxes | | | (2,474) | | | 363 | | | 296 | | | 322 | | | | | | | | | | | | | | Net income (loss) | | $ | (8,042) | | $ | 1,377 | | $ | 1,099 | | $ | 1,225 | | | | | | | | | | | | | | Basic earnings (loss) per common share (1) | | $ | (0.39) | | $ | 0.07 | | $ | 0.05 | | $ | 0.06 | | | | | | | | | | | | | | Diluted earnings (loss) per common share (1) | | $ | (0.39) | | $ | 0.07 | | $ | 0.05 | | $ | 0.06 | | | | | | | | | | | | | | Fiscal 2025: | | | | | | | | | | | | | Interest and dividend income | | $ | 14,494 | | $ | 15,127 | | $ | 14,942 | | $ | 14,399 | Interest expense | | | 5,301 | | | 5,739 | | | 6,000 | | | 5,578 | Net interest income | | | 9,193 | | | 9,388 | | | 8,942 | | | 8,821 | Provision for credit losses | | | — | | | — | | | 100 | | | — | Non-interest income, net | | | 3,707 | | | 3,341 | | | 3,841 | | | 3,367 | Non-interest expense | | | 11,438 | | | 11,154 | | | 10,701 | | | 10,969 | Income before income taxes | | | 1,462 | | | 1,575 | | | 1,982 | | | 1,219 | Provision for income taxes | | | 314 | | | 343 | | | 425 | | | 253 | | | | | | | | | | | | | | Net income | | $ | 1,148 | | $ | 1,232 | | $ | 1,557 | | $ | 966 | | | | | | | | | | | | | | Basic earnings per common share (1) | | $ | 0.05 | | $ | 0.06 | | $ | 0.07 | | $ | 0.05 | | | | | | | | | | | | | | Diluted earnings per common share (1) | | $ | 0.05 | | $ | 0.06 | | $ | 0.07 | | $ | 0.05 |
| (1) | Quarterly earnings per common share may vary from annual earnings per common share due to rounding. |
|