Riverview Bancorp, Inc. reported its financial results for the second quarter of fiscal 2026, revealing a net income of $1.1 million, or $0.05 per diluted share, for the three months ended September 30, 2025. This marks a decrease from the $1.6 million, or $0.07 per diluted share, reported for the same period in the previous year. For the six months ended September 30, 2025, net income totaled $2.3 million, down from $2.5 million in the prior year. The decline in profitability is attributed to a rise in non-interest expenses, which increased by $1.5 million and $2.3 million for the three and six months, respectively, primarily due to higher salaries and employee benefits.
The company's net interest income for the quarter was $9.8 million, an increase of $839,000 compared to the same period last year, driven by higher interest and fees on loans receivable. The net interest margin improved to 2.76% for the quarter, up from 2.46% in the prior year, reflecting higher yields on loans. Total interest and dividend income rose to $15.4 million for the quarter, compared to $14.9 million in the previous year, while interest expense decreased to $5.6 million from $6.0 million, primarily due to lower costs associated with borrowings.
Riverview Bancorp's total assets stood at $1.51 billion as of September 30, 2025, a slight decrease from $1.51 billion at the end of the previous fiscal year. Loans receivable remained stable at $1.05 billion, with notable shifts in the portfolio composition. Commercial real estate loans increased by $10.8 million, while consumer loans rose by $8.8 million. The company also reported a $4.1 million increase in deposits, totaling $1.24 billion, attributed to customer outreach and relationship-building initiatives.
The company’s allowance for credit losses (ACL) for loans was $15.4 million, representing 1.44% of total loans, unchanged from the previous period. Nonperforming loans increased to $776,000, or 0.05% of total assets, compared to $155,000 at the end of the previous fiscal year. The ACL provided coverage of over 1,900% of nonperforming loans, reflecting strong asset quality. Riverview Bancorp continues to focus on maintaining strong asset quality while pursuing growth in its commercial and construction loan portfolios.
Looking ahead, Riverview Bancorp aims to enhance its market position through strategic growth initiatives, including expanding its loan portfolio, increasing non-interest income, and improving client experiences. The company remains committed to its strategic priorities, which include being an employer of choice, profitable growth, and leveraging technology to enhance its digital banking capabilities. The management believes these efforts will support long-term financial health and competitiveness in the market.
About RIVERVIEW BANCORP INC
Riverview Bancorp, Inc. is a community-focused bank holding company based in Washington. It operates Riverview Bank, offering commercial, real estate, and consumer loans, along with trust and asset management services. The company emphasizes local service, digital banking, and deposit growth, serving primarily the Pacific Northwest markets. Its core business model centers on deposit attraction, loan origination, and investment in high-quality securities.
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