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RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
INTEREST AND DIVIDEND INCOME:        
Interest and fees on loans receivable $ 7,883 $ 7,109 $ 22,954 $ 20,758
Interest on investment securities - taxable 946 702 2,435 1,986
Interest on investment securities - nontaxable 11   11  
Other interest and dividends 112 110 344 340
Total interest and dividend income 8,952 7,921 25,744 23,084
INTEREST EXPENSE:        
Interest on deposits 277 290 837 893
Interest on borrowings 173 144 494 417
Total interest expense 450 434 1,331 1,310
Net interest income 8,502 7,487 24,413 21,774
Recapture of loan losses       (800)
Net interest income after recapture of loan losses 8,502 7,487 24,413 22,574
NON-INTEREST INCOME:        
Fees and service charges 1,304 1,312 3,815 3,740
Asset management fees 709 830 2,258 2,455
Net gains on sales of loans held for sale 191 125 493 425
Bank owned life insurance ("BOLI") 185 193 566 580
BOLI death benefit in excess of cash surrender value     407  
Other, net (56) (43) (111) (18)
Total non-interest income, net 2,333 2,417 7,428 7,182
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,850 4,452 14,021 13,102
Occupancy and depreciation 1,158 1,200 3,520 3,523
Data processing 562 424 1,533 1,345
Advertising and marketing 163 149 608 533
FDIC insurance premium 77 127 273 375
State and local taxes 170 102 455 362
Telecommunications 75 71 224 218
Professional fees 355 222 1,066 673
Litigation settlement     500 100
Real estate owned 2 65 52 511
Other 439 537 1,811 1,636
Total non-interest expense 7,851 7,349 24,063 22,378
INCOME BEFORE INCOME TAXES 2,984 2,555 7,778 7,378
PROVISION FOR INCOME TAXES 991 849 2,408 2,425
NET INCOME $ 1,993 $ 1,706 $ 5,370 $ 4,953
Earnings per common share:        
Basic (in dollars per share) $ 0.09 $ 0.08 $ 0.24 $ 0.22
Diluted (in dollars per share) $ 0.09 $ 0.08 $ 0.24 $ 0.22
Weighted average number of common shares outstanding:        
Basic (in shares) 22,490,433 22,455,543 22,477,473 22,446,463
Diluted (in shares) 22,563,712 22,506,341 22,537,663 22,491,546