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RIVERVIEW BANCORP, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
INTEREST INCOME:        
Interest and fees on loans receivable $ 9,669 $ 10,593 $ 29,764 $ 32,458
Interest on investment securities-taxable 28 28 109 115
Interest on investment securities-non taxable 11 14 35 43
Interest on mortgage-backed securities 12 21 41 70
Other interest and dividends 109 77 273 140
Total interest and dividend income 9,829 10,733 30,222 32,826
INTEREST EXPENSE:        
Interest on deposits 1,061 1,567 3,449 5,232
Interest on borrowings 381 359 1,121 1,119
Total interest expense 1,442 1,926 4,570 6,351
Net interest income 8,387 8,807 25,652 26,475
Less provision for loan losses 8,100 1,600 11,850 4,575
Net interest income after provision for loan losses 287 7,207 13,802 21,900
NON-INTEREST INCOME:        
Fees and service charges 962 955 3,082 3,131
Asset management fees 568 520 1,763 1,533
Gain on sale of loans held for sale, net 29 96 73 339
Bank owned life insurance income 151 151 455 451
Other (180) 142 (107) 696
Total non-interest income 1,530 1,864 5,266 6,150
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,014 4,090 12,039 12,115
Occupancy and depreciation 1,211 1,208 3,540 3,497
Data processing 306 274 1,136 774
Amortization of core deposit intangible 20 23 62 72
Advertising and marketing expense 286 187 814 577
FDIC insurance premium 289 402 848 1,240
State and local taxes 150 184 410 502
Telecommunications 109 105 324 317
Professional fees 334 311 971 958
Real estate owned expenses 2,781 897 3,967 1,183
Other expense 692 572 2,083 1,695
Total non-interest expense 10,192 8,253 26,194 22,930
Income (loss) before income tax (8,375) 818 (7,126) 5,120
Provision for income tax 8,220 239 8,574 1,659
Net income (loss) $ (16,595) $ 579 $ (15,700) $ 3,461
Earnings Per Share        
Basic earnings $ (0.74) $ 0.03 $ (0.70) $ 0.20
Diluted earnings $ (0.74) $ 0.03 $ (0.70) $ 0.20
Weighted average number of shares outstanding:        
Basic 22,321,011 22,296,378 22,314,876 17,044,751
Diluted 22,321,011 22,297,043 22,314,876 17,044,751