“Credit quality improved for the second consecutive quarter as we continue to focus on identifying and resolving problem credits,” said Pat Sheaffer, Riverview chairman and CEO, in a press release. “Our team’s success in executing this plan has resulted in a profitable quarter and reduction in nonperforming asset balances. While we will continue to pull from every resource to reduce problem assets, we can also now focus on responsible profitable growth that supports lending in the communities we serve.”
Last quarter, the Vancouver-based bank reported a net loss of $1.8 million, or $0.08 per share.
