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Condensed Financial Information of Parent Company Only Disclosure | 12 Months Ended
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Mar. 31, 2016
Notes |
Condensed Financial Information of Parent Company Only Disclosure | 18. RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY)
BALANCE SHEETS |  |  |  |  |
March 31, 2016 AND 2015 |  |  |  |  |
(In thousands) |  | 2016 |  |  | 2015
ASSETS |  |  |  |  |
Cash and cash equivalents (including interest earning accounts of $0 and $3,111) | $ | 1,467 |  | $ | 3,140
Investment in the Bank |  | 127,311 |  |  | 121,178
Other assets |  | 2,657 |  |  | 2,439
TOTAL ASSETS | $ | 131,435 |  | $ | 126,757
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Accrued expenses and other liabilities | $ | 29 |  | $ | 22
Dividend payable |  | 452 |  |  | 253
Borrowings |  | 22,681 |  |  | 22,681
Shareholders' equity |  | 108,273 |  |  | 103,801
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 131,435 |  | $ | 126,757
STATEMENTS OF INCOME |  |  |  |  |  |  |  |  |
years ended March 31, 2016, 2015 and 2014 |  |  |  |  |  |  |  |  |
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
INCOME: |  |  |  |  |  |  |  |  |
Dividend income from the Bank | $ | - |  | $ | 6,000 |  | $ | - |
Interest on investment securities and other short-term investments |  | 12 |  |  | 13 |  |  | 13 |
Interest on loan receivable from the Bank |  | 24 |  |  | 33 |  |  | 42 |
Total income |  | 36 |  |  | 6,046 |  |  | 55 |
EXPENSE: |  |  |  |  |  |  |  |  |
Management service fees paid to the Bank |  | 143 |  |  | 143 |  |  | 143 |
Other expenses |  | 443 |  |  | 457 |  |  | 459 |
Total expense |  | 586 |  |  | 600 |  |  | 602 |
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME (LOSS) OF THE BANK |  | (550 | ) |  | 5,446 |  |  | (547 | )
BENEFIT FOR INCOME TAXES |  | (187 | ) |  | (197 | ) |  | (1,365 | )
INCOME (LOSS) OF PARENT COMPANY |  | (363 | ) |  | 5,643 |  |  | 818 |
EQUITY IN UNDISTRIBUTED INCOME (LOSS) OF THE BANK |  | 6,721 |  |  | (1,152 | ) |  | 18,605 |
NET INCOME | $ | 6,358 |  | $ | 4,491 |  | $ | 19,423 |
There were no items of other comprehensive income that were solely attributable to the parent Company. RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) STATEMENTS OF CASH FLOWS YEARS ENDED MARCH 31, 2016, 2015 AND 2014
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net income | $ | 6,358 |  | $ | 4,491 |  | $ | 19,423 |
Adjustments to reconcile net income to cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed (income) loss of the Bank |  | (6,721 | ) |  | 1,152 |  |  | (18,605 | )
Provision (benefit) for deferred income taxes |  | 721 |  |  | (197 | ) |  | (1,364 | )
Earned ESOP shares |  | 110 |  |  | 102 |  |  | 68 |
Stock based compensation |  | - |  |  | 26 |  |  | 78 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |
Other assets |  | (941 | ) |  | 110 |  |  | 131 |
Accrued expenses and other liabilities |  | (1 | ) |  | (3,698 | ) |  | 355 |
Net cash provided by (used in) operating activities |  | (474 | ) |  | 1,986 |  |  | 86 |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Dividends paid |  | (1,261 | ) |  | - |  |  | - |
Proceeds from exercise of stock options |  | 62 |  |  | 48 |  |  | - |
Net cash provided by (used in) financing activities |  | (1,199 | ) |  | 48 |  |  | - |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  | (1,673 | ) |  | 2,034 |  |  | 86 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR |  | 3,140 |  |  | 1,106 |  |  | 1,020 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $ | 1,467 |  | $ | 3,140 |  | $ | 1,106 |
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 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income | $ | 7,864 |  |  | $ | 7,921 |  |  | $ | 7,602 |  |  | $ | 7,561 |
Interest expense |  | 432 |  |  |  | 434 |  |  |  | 439 |  |  |  | 437 |
Net interest income |  | 7,432 |  |  |  | 7,487 |  |  |  | 7,163 |  |  |  | 7,124 |
Recapture of loan losses |  | (350 | ) |  |  | - |  |  |  | (300 | ) |  |  | (500 | )
Non-interest income, net |  | 2,193 |  |  |  | 2,417 |  |  |  | 2,216 |  |  |  | 2,549 |
Non-interest expense |  | 7,569 |  |  |  | 7,349 |  |  |  | 7,284 |  |  |  | 7,745 |
Income before income taxes |  | 2,406 |  |  |  | 2,555 |  |  |  | 2,395 |  |  |  | 2,428 |
Provision for income taxes |  | 1,001 |  |  |  | 849 |  |  |  | 743 |  |  |  | 833 |
Net income | $ | 1,405 |  |  | $ | 1,706 |  |  | $ | 1,652 |  |  | $ | 1,595 |
Basic earnings per share (1) | $ | 0.06 |  |  | $ | 0.08 |  |  | $ | 0.07 |  |  | $ | 0.07 |
Diluted earnings per share (1) | $ | 0.06 |  |  | $ | 0.08 |  |  | $ | 0.07 |  |  | $ | 0.07 |
|  | March 31 |  |  |  | December 31 |  |  |  | September 30 |  |  |  | June 30 |
Fiscal 2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income | $ | 7,347 |  |  | $ | 7,203 |  |  | $ | 7,210 |  |  | $ | 6,866 |
Interest expense |  | 434 |  |  |  | 485 |  |  |  | 490 |  |  |  | 507 |
Net interest income |  | 6,913 |  |  |  | 6,718 |  |  |  | 6,720 |  |  |  | 6,359 |
Recapture of loan losses |  | (750 | ) |  |  | (400 | ) |  |  | (350 | ) |  |  | (300 | )
Non-interest income, net |  | 2,178 |  |  |  | 2,264 |  |  |  | 2,223 |  |  |  | 2,210 |
Non-interest expense |  | 7,689 |  |  |  | 7,646 |  |  |  | 7,674 |  |  |  | 7,735 |
Income before income taxes |  | 2,152 |  |  |  | 1,736 |  |  |  | 1,619 |  |  |  | 1,134 |
Provision for income taxes |  | 634 |  |  |  | 587 |  |  |  | 535 |  |  |  | 394 |
Net income | $ | 1,518 |  |  | $ | 1,149 |  |  | $ | 1,084 |  |  | $ | 740 |
Basic earnings per share (1) | $ | 0.07 |  |  | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.03 |
Diluted earnings per share (1) | $ | 0.07 |  |  | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.03 |

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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 FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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