Riverview Bancorp Inc. reported this week that it earned $1.1 million, or $0.05 per diluted share, in the second fiscal quarter ended September 30, 2014. The second quarter results also included a $3.5 million reduction in nonperforming assets, an 18.6 percent decline.
“In the first half of fiscal 2015, we have generated solid results on virtually every metric with improving profitability, strengthening asset quality, growth in loans and deposits, and better operating efficiencies,” said Pat Sheaffer, Riverview chairman and CEO, in a press release. “As the regional economic recovery continues to build, we are seeing increasing demand for loans and financial services from business owners and retail customers throughout the greater Vancouver and Portland markets that we serve. We believe that our franchise is starting to generate forward momentum and we are encouraged by the outlook for our business in the next few years.”
Other second quarter highlights included a 6.2 percent increase in net loans (to $540.8 million), and a 22.9 percent increase in non-interest bearing checking account balances (to $145.1 million).
