Riverview Bancorp recently announced earnings for the first fiscal quarter ended June 30, 2019. For the first quarter, net income was $4.2 million, or $0.18 per diluted share, which was in line with the operating results reported for the preceding quarter. Net income was $4.4 million, or $0.20 per diluted share, in the first fiscal quarter a year ago.
First quarter highlights include:
- Net income of $4.2 million, or $0.18 per diluted share.
- Net interest margin (NIM) was 4.32% for the quarter.
- Return on average assets of 1.46% for the first quarter.
- Return on average equity of 12.34% for the first quarter.
- Total loans were $888.0 million at June 30, 2019, a 7.4% increase over $826.6 million a year ago.
- Cost of deposits remained low at 0.15% for the quarter compared to 0.10% for the preceding quarter.
- Non-performing assets were 0.13% of total assets.
- Total risk-based capital ratio was 17.18% and Tier 1 leverage ratio was 11.94%.
- Increased quarterly cash dividend by 12.5% to $0.045 per share, generating a current dividend yield of 2.16% based on the share price at close of market on July 12, 2019.