Vancouver-based Riverview Bancorp Inc. reported this week an income of $1.1 million, or $0.05 per diluted share, in the third fiscal quarter ended December 31, 2014. This compares to an income of $801,000, or $0.04 per diluted share, in the third quarter of 2013.
“Strong, smart growth in our loan portfolio is a key driver to our profitability,” said Ron Wysaske, Riverview president and COO, in a press release. “Our market contains one of the fastest recovering economies in the country and our lending teams are taking advantage of those opportunities. As a result we saw growth in nearly every loan category while strengthening our overall asset quality.”
Olympia-based Heritage Bank also reported quarterly earnings this week. Brian L. Vance, president and CEO of Heritage Financial Corp., reported that his company had net income of $7.3 million for the quarter ended December 31, 2014. This compares to net income of $710,000 for the quarter ended December 31, 2013.