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Principles of Consolidation
3 Months Ended
Jun. 30, 2016
Notes  
Principles of Consolidation

2.      PRINCIPLES OF CONSOLIDATION

 

The accompanying unaudited consolidated financial statements include the accounts of: Riverview Bancorp, Inc.; its wholly-owned subsidiary, Riverview Community Bank (the “Bank”); and the Bank’s wholly-owned subsidiaries, Riverview Services, Inc. and Riverview Trust Company (the “Trust Company”) (collectively referred to as the “Company”). On May 24, 2016, Riverview Asset Management Corp. changed its name to Riverview Trust Company. All inter-company transactions and balances have been eliminated in consolidation. During December 2015, the Trust Company repurchased all the remaining shares held by its noncontrolling interest owner. Upon repurchase these shares were retired. This transaction resulted in the Bank’s ownership increasing from 90% to 100%.