Press Releases

Latest Headlines

Riverview Hires Eric Landon as Information Technology Director
11/13/2018 – Riverview Bancorp, Inc. (NASDAQ GSM: RVSB), the holding company for Riverview Community Bank (the “Bank”), today announced the hiring of Eric Landon as senior vice president and IT Director. Landon will oversee the information technology operations of the Bank.

Riverview Promotes Robert Sang and Cody Ritter to Commercial Team Leaders
06/05/2018 – Riverview Bancorp, Inc. (NASDAQ GSM: RVSB)
Riverview Community Bank, a wholly owned subsidiary of Riverview Bancorp, Inc. is pleased to announce the promotions of Robert Sang and Cody Ritter to senior vice presidents and commercial team leaders for the Oregon and Washington markets, respectively. Together, Sang and Ritter will direct the activities of one of the largest local lending teams in the Portland Metro Area.

Riverview Bancorp Reports Fourth Quarter EarningsFiscal Year 2018 Earnings Increase 38% Year-Over-Year
04/26/2018 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported net income increased to $3.0 million, or $0.13 per diluted share, in its fourth fiscal quarter ended March 31, 2018, compared to $2.0 million, or $0.09 per diluted share, in the fourth fiscal quarter a year ago. In the preceding quarter net income was $1.5 million, or $0.07 per diluted share. The preceding quarter’s net income was impacted due to a valuation adjustment of the Company’s net deferred tax asset along with the use of a lower blended tax rate, which resulted in an additional tax expense of $1.8 million, or $0.08 per diluted share.

Riverview Bancorp Declares Quarterly Cash Dividend
04/02/2018 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today announced its Board of Directors declared a quarterly cash dividend of $0.03 per share. The dividend will be payable April 24, 2018, to shareholders of record April 13, 2018. Based on the current share price, the annualized dividend yield is 1.29%.

Riverview Promotes Steven Plambeck to Chief Lending Officer
03/07/2018 – Riverview Bancorp, Inc. (NASDAQ GSM: RVSB), the holding company for Riverview Community Bank (the “Bank”), today announced the promotion of Steven Plambeck to executive vice president and chief lending officer. In his new capacity, Plambeck will oversee the management and development of the commercial banking teams and all related lending products. Plambeck succeeds Richard Michalek who retired in January.

Riverview Bancorp Reports Earnings for Third Fiscal Quarter 2018 Pre-Tax Income increases 72% Year-Over-Year
01/25/2018 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported net income of $1.5 million, or $0.07 per diluted share, in its third fiscal quarter ended December 31, 2017. This compares to net income of $3.1 million, or $0.14 per diluted share, in the preceding quarter and net income of $2.0 million, or $0.09 per diluted share, in the third fiscal quarter a year ago. Net income was impacted during the current quarter due to a valuation adjustment of the Company’s net deferred tax asset along with the use of a lower blended tax rate, which resulted in an additional net income tax expense of $1.8 million, or $0.08 per diluted share. Pre-tax income for the third fiscal quarter of 2018 was $5.1 million, which was a $449,000, or 9.6%, increase compared to the preceding quarter and a $2.1 million, or 71.8%, increase from the year ago quarter.

Riverview Bancorp Announces CEO Succession Plan
01/12/2018 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (the “Company”), the holding company for Riverview Community Bank (the “Bank” and collectively “Riverview”), today announced that, effective April 2, 2018, Patrick Sheaffer will be retiring as President and Chief Executive Officer of the Company and the Bank. Mr. Sheaffer will continue to serve as Chairman of the Board of both the Company and the Bank. Kevin Lycklama, currently Executive Vice President and Chief Operating Officer, will succeed him as President and Chief Executive Officer of the Company and the Bank. With the transition, Mr. Lycklama will join the Board of Directors.

Riverview Bancorp Declares Quarterly Cash Dividend
12/21/2017 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today announced its Board of Directors has declared a quarterly cash dividend of $0.03 per share. The dividend will bepayable January 23, 2018, to shareholders of record January 8, 2018. The cash dividend represents a payout of 22% for our second fiscal quarter and a dividend yield of 1.30%.

Riverview Bancorp Declares Quarterly Cash Dividend
10/26/2017 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported net income increased to $3.1 million, or $0.14 per diluted share, in the second fiscal quarter ended September 30, 2017, compared to $2.7 million, or $0.12 per diluted share, in the preceding quarter and $1.7 million, or $0.07 per diluted share, in the second fiscal quarter ended September 30, 2016.

Riverview Bancorp Declares Quarterly Cash Dividend
10/02/2017 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today announced its Board of Directors has declared a quarterly cash dividend of $0.0225 per share.

Riverview Bancorp Announces Senior Management Promotions
07/27/2017 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”), the holding company for Riverview Community Bank (the “Bank”), today announced that, as part of its multi-step leadership succession planning process, has promoted a number of senior managers at both the Company and the Bank.

Riverview Bancorp Announces Retirement of Ron Wysaske
07/26/2017 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (the “Company”), the holding company for Riverview Community Bank (“Bank” and collectively “Riverview”), today announced that Ron Wysaske will be retiring. He will be retiring as President, Chief Operating Officer and Director of the Company and the Bank on July 26, 2017 and will continue as an employee, to assist in the transition, through September 30, 2017.

Riverview Bancorp Earnings Increase to $2.7 Million in First Fiscal Quarter 2018; Highlighted by Strong Loan Growth and Net Interest Margin Expansion
07/25/2017 - Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported net income increased to $2.7 million, or $0.12 per diluted share, in the first fiscal quarter ended June 30, 2017, compared to $1.7 million, or $0.08 per diluted share, in the first fiscal quarter one year ago.

Riverview Bancorp Announces Director Retirement and Appointment of New Director
04/28/2017 - Riverview Bancorp, Inc. (NASDAQ:RVSB) (the “Company”), and its wholly owned subsidiary, Riverview Community Bank (the “Bank”), today announced the retirement of Michael D. Allen as a director of the Company and the Bank.

Riverview Bancorp Earns $2.0 Million in Fourth Fiscal Quarter and $7.4 Million for Fiscal 2017; Completes Transaction with MBank, Total Assets Surpass $1 Billion
04/27/2017 - Riverview Bancorp, Inc. (Nasdaq:RVSB) (“Riverview” or the “Company”) today reported earnings increased to $2.0 million, or $0.09 per diluted share, in the fourth fiscal quarter ended March 31, 2017, compared to $1.4 million, or $0.06 per diluted share, in the fourth fiscal quarter one year ago. In fiscal 2017, net income increased to $7.4 million, or $0.33 per diluted share, compared to $6.4 million, or $0.28 per diluted share, in fiscal 2016.

Riverview Bancorp Declares Quarterly Cash Dividend
03/27/2017 - Riverview Bancorp, Inc. (Nasdaq:RVSB) (“Riverview” or the “Company”) today announced its Board of Directors has declared a quarterly cash dividend of $0.02 per share. The dividend will be payable April 25, 2017, to shareholders of record April 11, 2017. The cash dividend represents a payout of 23% for our third fiscal quarter and a dividend yield of 1.10%.

Riverview Community Bank Completes Transaction with MBank
02/17/2017 - Riverview Bancorp, Inc. (NASDAQ: RVSB) (“Riverview Bancorp”), and its wholly owned subsidiary, Riverview Community Bank (“Riverview”), today announced that it completed the previously announced purchase and assumption transaction with Merchants Bancorp and its wholly owned subsidiary, MBank. In connection with the transaction, Riverview acquired approximately $116 million in net loans and assumed certain liabilities, including approximately $132 million of MBank’s customer deposits. Riverview Bancorp also assumed the obligations of Merchants Bancorp’s trust preferred securities.

Riverview Bancorp Earns $2.0 Million in Third Fiscal Quarter; Highlighted by Strong Revenue Growth and Improved Net Interest Margin
01/26/2017 - Riverview Bancorp, Inc. (Nasdaq:RVSB) (“Riverview” or the “Company”) today reported that earnings increased to $2.0 million, or $0.09 per diluted share, in the third fiscal quarter ended December 31, 2016, compared to $1.7 million, or $0.08 per diluted share, in the third fiscal quarter one year ago. In the preceding quarter, Riverview earned $1.7 million, or $0.07 per diluted share. In the first nine months of fiscal 2017, net income increased to $5.4 million, or $0.24 per diluted share, compared to $5.0 million, or $0.22 per diluted share, in the first nine months of fiscal 2016.

Riverview Bancorp Declares Quarterly Cash Dividend
12/22/2016 - Riverview Bancorp, Inc. (Nasdaq:RVSB) (“Riverview” or the “Company”) today announced its Board of Directors has declared a quarterly cash dividend of $0.02 per share. The dividend will be payable January 24, 2017, to shareholders of record January 10, 2017. The cash dividend represents a payout of 27% for our second fiscal quarter and a dividend yield of 1.10%.

Riverview Bancorp Earns $1.7 Million in Second Quarter; Highlighted by Announced Deal with MBank
10/27/2016 - Riverview Bancorp, Inc. (Nasdaq:RVSB) (“Riverview” or the “Company”) today reported net income of $1.7 million, or $0.07 per diluted share, in the second fiscal quarter ended September 30, 2016, the same as in the second quarter one year ago. In the preceding quarter, Riverview earned $1.7 million, or $0.08 per diluted share. In the first six months of fiscal 2017, net income increased to $3.4 million, or $0.15 per diluted share, compared to $3.2 million, or $0.14 per diluted share, in the first six months of fiscal 2016.

Riverview Bancorp Declares Quarterly Cash Dividend
10/03/2016 - Riverview Bancorp, Inc. (Nasdaq:RVSB) (“Riverview” or the “Company”) today announced its Board of Directors has declared a quarterly cash dividend of $0.02 per share. The dividend will be payable October 25, 2016, to shareholders of record October 14, 2016. The cash dividend represents a payout of 27% for our first fiscal quarter and a dividend yield of 1.49%.

Riverview Community Bank and MBank Announce Signing of A Purchase and Assumption Agreement
9/29/2016 - Riverview Bancorp, Inc. (NASDAQ: RVSB) (“Riverview Bancorp”), and its wholly owned subsidiary, Riverview Community Bank (“Riverview”), and Merchants Bancorp and its wholly owned subsidiary MBank, announced that they have entered into a Purchase and Assumption Agreement (the “Agreement”). Pursuant to the Agreement, Riverview will acquire certain assets and assume certain liabilities of MBank in a cash transaction. The Agreement also provides that Riverview Bancorp will assume the obligations of Merchants Bancorp’s trust preferred securities.

Riverview Bancorp, Inc. Appoints David Nierenberg to Board of Directors
05/03/2016 - The holding company for Riverview Community Bank (the “Bank”), announced today that David Nierenberg, Founder and President of Nierenberg Investment Management Company (NIMCO), has been appointed to the Boards of Directors of the Company and the Bank. NIMCO manages The D3 Family Funds; investment partnerships which focus on micro-cap stocks.

Riverview Bancorp Earns $1.4 Million in Fourth Quarter and $6.4 Million in Fiscal 2016; Highlighted by Solid Loan Growth and Improved Asset Quality
04/28/2016 -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported net income of $1.4 million, or $0.06 per diluted share, in the fourth fiscal quarter ended March 31, 2016. This compares to $1.7 million, or $0.08 per diluted share, in the preceding quarter and $1.5 million, or $0.07 per diluted share, in the fourth fiscal quarter a year ago.

Riverview Trust Company Names Chris Cline as President
04/27/2016 -- Riverview Trust Company, a wholly owned subsidiary of Riverview Community Bank announced today that its Board of Directors has named Christopher Cline to be president and chief operating officer, reporting to Chairman and Chief Executive Officer John Karas.

Riverview Promotes Steven Plambeck to Commercial Team Leader for Oregon Market
04/07/2016 -- Riverview Community Bank, a wholly owned subsidiary of Riverview Bancorp, Inc. is pleased to announce the promotion of senior vice president Steven Plambeck to commercial team leader for the Oregon market. Plambeck will direct the activities of the six commercial lenders operating out of Riverview’s Gateway facility. Additionally, Plambeck will continue his emphasis on medical banking, attaining relationships with clinics, private practices, physicians and hospital administrators.

03/28/2016 -- Riverview Bancorp, Inc. today announced its Board of Directors has declared a quarterly cash dividend of $0.02 per share. The dividend will be payable April 25, 2016, to shareholders of record April 11, 2016. The cash dividend represents a payout of 26% for our third fiscal quarter and a dividend yield of 1.87%.

02/01/2016 -- Riverview Community Bank, a wholly owned subsidiary of Riverview Bancorp, Inc. (NASDAQ: RVSB), welcomes Michael Ellensohn as a Mortgage Specialist. In his new capacity, Ellensohn will help the local community with their mortgage needs in Battle Ground, Salmon Creek, Hazel Dell, Orchards, and Longview.

01/20/2016 -- Riverview Community Bank, a wholly owned subsidiary of Riverview Bancorp, Inc. (Nasdaq GSM: RVSB), is pleased to announce the promotions of six employee-owners, as voted by its Board of Directors: MacArthur Branch Manager Collette Tynan, with 30 years experience in the banking industry, has been promoted to Vice President; Longview Branch Manager Connie Hladek, a Riverview employee for 10 years, has been named Vice President; with 18 years banking experience, Goldendale Branch Manager Cynthia Furlong has been elevated to Vice President; 15 year Riverview employee, Aumsville Branch Manager Julie Wisser has been named Vice President; Tech Center Branch Manager Jamie Birkeland, 10 year banking professional, has been promoted to Vice President; Credit Analyst Melissa Pearce, a 5 year Riverview employee, has been elevated to Assistant Vice President.

01/15/2016 -- Riverview Community Bank, a wholly owned subsidiary of Riverview Bancorp, Inc. (NASDAQ GSM: RVSB), announced the promotion of senior vice president Richard High to retail lending manager by the board of directors. In this newly created role, he will be responsible for consumer and mortgage loan production, application processing and credit quality.

10/29/2015 -- Riverview Bancorp, Inc. (Nasdaq:RVSB) ("Riverview" or the "Company") today reported net income of $1.7 million, or $0.07 per diluted share, in the second fiscal quarter ended September 30, 2015. This compares to net income of $1.6 million, or $0.07 per diluted share, in the preceding quarter and $1.1 million, or $0.05 per diluted share, in the second fiscal quarter a year ago. In the first six months of fiscal 2016 net income increased to $3.2 million, or $0.14 per diluted share, compared to $1.8 million, or $0.08 per diluted share, in the first six months of fiscal 2015.

10/01/2015 -- Riverview Bancorp, Inc. (Nasdaq:RVSB) ("Riverview" or the "Company") today announced its Board of Directors has declared a quarterly cash dividend of $0.015 per share. The dividend will be payable October 27, 2015, to shareholders of record October 12, 2015.

08/28/2015 -- Riverview Bancorp, Inc. (the "Company") (NASDAQ:RVSB), the holding company for Riverview Community Bank (the "Bank"), announced today its appointment of James M. Chadwick to the Boards of Directors of the Company and the Bank. Mr. Chadwick is a portfolio manager and Director of Research for Ancora Advisors LLC.

07/21/2015 -- Riverview Bancorp, Inc. (Nasdaq:RVSB) ("Riverview" or the "Company") today reported net income of $1.6 million, or $0.07 per diluted share, in the first fiscal quarter ended June 30, 2015 compared to $1.5 million, or $0.07 per diluted share, in the preceding quarter and $740,000, or $0.03 per diluted share, in the first fiscal quarter a year ago.

01/29/2015 -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported that it earned $1.1 million, or $0.05 per diluted share, in the third fiscal quarter ended December 31, 2014,compared to $1.1 million, or $0.05 per diluted share, in the preceding quarter and $801,000, or $0.04 per diluted share,in its third fiscal quarter a year ago.

12/22/2014 -- Riverview Bancorp, Inc. (NASDAQ GSM: RVSB) today announced the appointment of Bradley Carlson, President and General Manager of Evergreen Memorial Gardens Cemetery, Funeral Chapel and Crematory to the Board of Directors for Riverview Community Bank and Riverview Bancorp, Inc.

07/22/2014 -- Riverview Bancorp, Inc (Nasdaq: RVSB) ("Riverview" or the "Company") today reported that it earned $740,000, or $0.03 per diluted share, in the first fiscal quarter ended June 30, 2014 compared to $1.6 million, or $0.07 per diluted share, in the first fiscal quarter a year ago.

05/01/2014 -- Riverview Bancorp, Inc (Nasdaq GSM: RVSB) ("Riverview" or the "Company") today reported that it earned $16.6 million, or $0.74 per diluted share, in the fourth fiscal quarter ended March 31, 2014. This compared to net income of $801,000, or $0.04 per diluted share, in the preceding quarter and $1.6 million, or $0.07 per diluted share, in the fourth fiscal quarter a year ago. The fourth quarter results include a $15.1 million recapture of its deferred tax asset valuation allowance.

04/08/2014 -- Riverview Bancorp, Inc. (Nasdaq:RVSB) ("Riverview" or the "Company") today reported that the Office of the Comptroller of the Currency ("OCC") has lifted the formal agreement ("Agreement") with Riverview Community Bank ("Bank"). This action immediately ends the regulatory restrictions that were contained in the Agreement and no further reporting under the Agreement is necessary.

03/05/2014 -- Riverview Community Bank, a wholly owned subsidiary of Riverview Bancorp, Inc. (Nasdaq:RVSB), today announced the promotion of Daniel Cox to executive vice president and chief credit officer by the board of directors.

01/30/2014 -- Riverview Bancorp, Inc. (Nasdaq:RVSB) ("Riverview" or the "Company") today reported net income of $801,000, or $0.04 per diluted share, in the third fiscal quarter ended December 31, 2013, compared to $341,000, or $0.02 per diluted share, in the preceding quarter and $1.0 million, or $0.05 per diluted share, in the third fiscal quarter a year ago. In the first nine months of fiscal year 2014, net income increased 168% to $2.8 million, or $0.12 per diluted share, compared to $1.0 million, or $0.05 per diluted share, in the first nine months of fiscal year 2013.

01/02/2014 -- The employee-owners of Riverview Community Bank marked 32 years of tradition by donating hundreds of gifts to foster children through the Bank's "Shirley DuPaul - Gifts for Kids in Care" program. Every year, the Department of Social and Health Services coordinates this program for foster children in the cities of Vancouver and Portland, and also Klickitat and Skamania Counties.

10/29/2013 -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported net income of $341,000, or $0.02 per diluted share, in its second fiscal quarter ended September 30, 2013. This compares to net income of $1.6 million, or $0.07 per diluted share, in the preceding quarter, and $1.8 million, or $0.08 per diluted share, in the second quarter a year ago.

10/22/2013 -- Riverview Community Bank’s Gresham branch recently achieved certification as a “GREAT” business from the City of Gresham’s Department of Environmental Services. The certification recognizes Riverview’s completion of the Gresham Resource Efficiency Assistance to (GREAT) Businesses program, in which Riverview worked with program staff over a ten-month period to integrate sustainability into daily operations.

10/08/2013 -- Riverview Community Bank President and Chief Operating Officer Ron Wysaske was re-elected to the Community Bankers of Washington (CBW) Board of Directors during the group’s recent annual meeting. As the only trade association in Washington that advocates exclusively for independent community banks, CBW serves as a distinct voice for community banks throughout Washington state.

09/30/2013 -- Riverview Community Bank, a wholly owned subsidiary of Riverview Bancorp, Inc. (Nasdaq GSM: RVSB), is pleased to announce the promotions of five employee-owners, as voted by its Board of Directors.

08/12/2013 -- Riverview Community Bank is proud to announce that it has exceeded its 12-month, $100 million lending commitment to individuals and local businesses in the region. By the end of the pledged 12-month period, Riverview originated over $134 million in new loans, helping local housing and business markets. Renewing its commitment to local lending, Riverview has doubled the pledge to $200 million over the next 12 months.

07/23/2013 -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today reported income of $1.6 million, or $0.07 per diluted share, in its fiscal first quarter ended June 30, 2013. This compares to net income of $1.6 million, or $0.07 per diluted share, in the preceding quarter and a net loss of $1.8 million, or $0.08 per diluted share, in the first quarter a year ago.

07/16/2013 -- Riverview Community Bank has been named one of the Top 50 Community Bank Leaders in Social Media by the Independent Community Bankers of America® (ICBA). The list, released by ICBA earlier this month, recognizes 50 community banks nationwide as social media trailblazers in the financial industry. Riverview Community Bank is the only bank based in Southwest Washington, and one of two banks headquartered in Washington state, to make the list.

05/15/2013 -- Riverview Community Bank will celebrate 90 years of local service on Tuesday, May 21, 2013. Customers are invited to visit any Riverview branch on that day for cake and refreshments commemorating the bank’s 90th anniversary.

05/02/2013 -- Riverview Bancorp, Inc. today reported it earned $1.6 million, or $0.07 per diluted share, in its fourth fiscal quarter that ended March 31, 2013. This compares to net income of $1.0 million, or $0.05 per diluted share, in the preceding quarter and a net loss of $16.0 million, or $0.71 per diluted share, in the fourth quarter a year ago. For all of fiscal 2013, Riverview earned $2.6 million, or $0.12 per diluted share, compared to a net loss of $31.7 million, or $1.42 per diluted share, for all of fiscal 2012.

04/12/2013 -- Riverview Community Bank will host a free Community Shred Day on Saturday, April 20, from 9 a.m. to 1 p.m. at Riverview Center, located at 17205 SE Mill Plain Blvd in Vancouver. Riverview invites the public to bring up to three boxes of unwanted, paper documents and materials to the shredding event. An industrial shredding truck will be on site for secure destruction by Cintas Document Management®.

03/15/2013 -- Riverview Community Bank is pleased to announce that its customers have raised $4,000 for Crestline Elementary School, which was destroyed by fire in February. Riverview’s Kim Capeloto, Executive Vice President – Marketing and Operations, and Jennifer Konopasek, Vice President – Retail Service Coordinator, presented the $4,000 check to Evergreen School District Foundation Vice President Park Llafet and Secretary Ginny Gronwoldt last week.

03/05/2013 -- Riverview Community Bank recently announced the hiring of Larry Schwartz as new vice president, business development officer for Riverview’s Gresham branch. In his new capacity, Schwartz will continue to build professional and strategic business banking relationships throughout the greater East County.

03/05/2013 -- Riverview Community Bank welcomes Robert Johnson as vice president, commercial loan officer. In his new capacity, Johnson will help local businesses with their banking needs at Riverview’s Gateway branch in Portland.

03/04/2013 -- Riverview Community Bank is pleased to announce its annual Walk-and-Knock and Riverview Fill-A-Bag food drive efforts brought in the equivalent of 955,000 pounds of food in 2012. Riverview and its community partners donated the food and money collected to local food banks. The total, which includes a $7,500 contribution from the Bank, outweighs last winter’s collection by 115 tons.

02/13/2013 -- Riverview Community Bank employee, Melissa Lucore, has been elected treasurer of the Fort Vancouver Community Television (FVTV) board of directors. The volunteer-run, public access station made the announcement in January 2013.

01/30/2013 -- Riverview Bancorp, Inc. today reported it earned $1.0 million, or $0.05 per diluted share, in its third fiscal quarter ended December 31, 2012 compared to a net loss of $16.6 million, or $0.74 per diluted share, in the third quarter a year ago.