Riverview Bancorp reported earnings of $4.1 million, or $0.18 per diluted share for the third fiscal quarter ended Dec. 31, 2019, compared to $4.5 million, or $0.20 per diluted share, in the preceding quarter, and $4.4 million, or $0.19 per diluted share, in the third fiscal quarter a year ago. For the first nine months of fiscal 2020, earnings were $12.9 million, or $0.57 per diluted share, compared to $13.1 million, or $0.58 per diluted share, in the first nine months of fiscal 2019.
Third Quarter Highlights:
- Net income was $4.1 million, or $0.18 per diluted share.
- Net interest margin (NIM) remained healthy at 4.23% for the quarter.
- Return on average assets was 1.40% and return on average equity was 11.24% for the third quarter.
- Total deposits increased $8.2 million during the quarter to $990.5 million.
- Total loans increased $5.2 million during the quarter to $886.5 million.
- Asset quality remains strong, with non-performing assets at 0.13% of total assets.
- Total risk-based capital ratio was 17.66% and Tier 1 leverage ratio was 12.05%.
- Increased its quarterly cash dividend to $0.05 per share, generating a current dividend yield of 2.66% based on the share price at close of market on January 14, 2020.
