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20. Riverview Bancorp, Inc. (Parent Company) | 12 Months Ended
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Mar. 31, 2013
Notes |
20. Riverview Bancorp, Inc. (Parent Company) | 20. RIVERVIEW BANCORP, INC. (PARENT COMPANY)
BALANCE SHEETS |  |  |  |  |
March 31, 2013 AND 2012 |  |  |  |  |
(In thousands) |  | 2013 |  |  | 2012
ASSETS |  |  |  |  |
Cash and cash equivalents (including interest earning accounts of $952 and $2,856) | $ | 1,020 |  | $ | 2,904
Investment in the Bank |  | 102,280 |  |  | 96,348
Other assets |  | 1,117 |  |  | 1,694
TOTAL ASSETS | $ | 104,417 |  | $ | 100,946
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Accrued expenses and other liabilities | $ | 3,294 |  | $ | 2,658
Borrowings |  | 22,681 |  |  | 22,681
Parent Company Shareholders' equity |  | 78,442 |  |  | 75,607
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 104,417 |  | $ | 100,946
STATEMENTS OF OPERATIONS |  |  |  |  |  |  |  |  |
years ended March 31, 2013, 2012 and 2011 |  |  |  |  |  |  |  |  |
(In thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
INCOME: |  |  |  |  |  |  |  |  |
Interest on investment securities and other short-term investments | $ | 20 |  | $ | 40 |  | $ | 44 |
Interest on loan receivable from the Bank |  | 50 |  |  | 59 |  |  | 68 |
Total income |  | 70 |  |  | 99 |  |  | 112 |
EXPENSE: |  |  |  |  |  |  |  |  |
Management service fees paid to the Bank |  | 143 |  |  | 142 |  |  | 143 |
Other expenses |  | 685 |  |  | 3,624 |  |  | 1,316 |
Total expense |  | 828 |  |  | 3,766 |  |  | 1,459 |
LOSS BEFORE INCOME TAXES AND EQUITY |  |  |  |  |  |  |  |  |
IN UNDISTRIBUTED LOSS OF THE BANK |  | (758) |  |  | (3,667) |  |  | (1,347) |
PROVISION (BENEFIT) FOR INCOME TAXES |  | (258) |  |  | 81 |  |  | (458) |
LOSS OF PARENT COMPANY |  | (500) |  |  | (3,748) |  |  | (889) |
EQUITY IN UNDISTRIBUTED INCOME (LOSS) OF THE BANK |  | 3,133 |  |  | (27,909) |  |  | 5,204 |
NET INCOME (LOSS) | $ | 2,633 |  | $ | (31,657) |  | $ | 4,315 |
There were no items of other comprehensive income for the parent Company.
RIVERVIEW BANCORP, INC. (PARENT COMPANY) |  |  |  |  |  |  |  |  |
STATEMENTS OF CASH FLOWS |  |  |  |  |  |  |  |  |
YEARS ENDED MARCH 31, 2013, 2012 AND 2011 |  |  |  |  |  |  |  |  |
(In thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 2,633 |  | $ | (31,657) |  | $ | 4,315 |
Adjustments to reconcile net income (loss) cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed (earnings) loss of the Bank |  | (3,133) |  |  | 27,909 |  |  | (5,204) |
Provision (benefit) for deferred income taxes |  | - |  |  | (15) |  |  | 10 |
Writedown of real estate owned |  | - |  |  | 1,997 |  |  | - |
Earned ESOP shares |  | 42 |  |  | 62 |  |  | 64 |
Stock based compensation |  | 2 |  |  | 12 |  |  | 77 |
Changes in assets and liabilities |  |  |  |  |  |  |  |  |
Other assets |  | 577 |  |  | 114 |  |  | (43) |
Accrued expenses and other liabilities |  | 695 |  |  | 1,382 |  |  | 1,209 |
Net cash provided by (used in) operating activities |  | 816 |  |  | (196) |  |  | 428 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Purchase of real estate held for investment |  | - |  |  | - |  |  | (8,328) |
Proceeds from sale of real estate owned |  | - |  |  | 1,041 |  |  | - |
Additional investment in subsidiary |  | (2,700) |  |  | (2,000) |  |  | (7,000) |
Net cash used in investing activities |  | (2,700) |  |  | (959) |  |  | (15,328) |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from issuance of common stock, net |  | - |  |  | - |  |  | 18,769 |
Net cash provided by financing activities |  | - |  |  | - |  |  | 18,769 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  | (1,884) |  |  | (1,155) |  |  | 3,869 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR |  | 2,904 |  |  | 4,059 |  |  | 190 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $ | 1,020 |  | $ | 2,904 |  | $ | 4,059 |
NONCASH INVESTING AND FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Transfer of real estate owned | $ | - |  | $ | 5,290 |  | $ | - |
Riverview Bancorp, Inc. |  |
Selected Quarterly Financial Data (Unaudited): |  |
(Dollars in thousands, except share data) | Three Months Ended |
|  | March 31 |  |  |  | December 31 |  |  |  | September 30 |  |  |  | June 30 |
Fiscal 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 6,905 |  |  | $ | 8,136 |  |  | $ | 8,648 |  |  | $ | 9,243 |
Interest expense |  | 700 |  |  |  | 752 |  |  |  | 861 |  |  |  | 1,172 |
Net interest income |  | 6,205 |  |  |  | 7,384 |  |  |  | 7,787 |  |  |  | 8,071 |
Provision for (recapture of) loan losses |  | (3,600) |  |  |  | - |  |  |  | 500 |  |  |  | 4,000 |
Non-interest income |  | 2,032 |  |  |  | 2,087 |  |  |  | 2,314 |  |  |  | 2,440 |
Non-interest expense |  | 10,236 |  |  |  | 8,434 |  |  |  | 7,812 |  |  |  | 8,276 |
Income (loss) before income taxes |  | 1,601 |  |  |  | 1,037 |  |  |  | 1,789 |  |  |  | (1,765) |
Provision for income taxes |  | 6 |  |  |  | 6 |  |  |  | 2 |  |  |  | 15 |
Net income (loss) | $ | 1,595 |  |  | $ | 1,031 |  |  | $ | 1,787 |  |  | $ | (1,780) |
Basic earnings (loss) per share (1) | $ | 0.07 |  |  | $ | 0.05 |  |  | $ | 0.08 |  |  | $ | (0.08) |
Diluted earnings (loss) per share (1) | $ | 0.07 |  |  | $ | 0.05 |  |  | $ | 0.08 |  |  | $ | (0.08) |
(Dollars in thousands, except share data) | Three Months Ended |
|  | March 31 |  |  |  | December 31 |  |  |  | September 30 |  |  |  | June 30 |
Fiscal 2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 9,310 |  |  | $ | 9,829 |  |  | $ | 9,965 |  |  | $ | 10,428 |
Interest expense |  | 1,295 |  |  |  | 1,442 |  |  |  | 1,530 |  |  |  | 1,598 |
Net interest income |  | 8,015 |  |  |  | 8,387 |  |  |  | 8,435 |  |  |  | 8,830 |
Provision for loan losses |  | 17,500 |  |  |  | 8,100 |  |  |  | 2,200 |  |  |  | 1,550 |
Non-interest income |  | 1,561 |  |  |  | 1,530 |  |  |  | 1,832 |  |  |  | 1,904 |
Non-interest expense |  | 8,229 |  |  |  | 10,192 |  |  |  | 7,845 |  |  |  | 8,157 |
Income (loss) before income taxes |  | (16,153) |  |  |  | (8,375) |  |  |  | 222 |  |  |  | 1,027 |
Provision (benefit) for income taxes |  | (196) |  |  |  | 8,220 |  |  |  | 41 |  |  |  | 313 |
Net income (loss) | $ | (15,957) |  |  | $ | (16,595) |  |  | $ | 181 |  |  | $ | 714 |
Basic earnings (loss) per share (1) | $ | (0.71) |  |  | $ | (0.74) |  |  | $ | 0.01 |  |  | $ | 0.03 |
Diluted earnings (loss) per share (1) | $ | (0.71) |  |  | $ | (0.74) |  |  | $ | 0.01 |  |  | $ | 0.03 |
(1) Quarterly earnings per share may vary from annual earnings per share due to rounding.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 + Details
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